SUNDAY 22TH NOVEMBER 2020

Nigerian Doctor, Onyema Ogbuagbu in COVID-19 Vaccine Breakthrough Kunle Aderinokun A Nigerian doctor, Dr. Onyema Ogbuagbu, is at the centre of the Pfizer-led research, development and trials that have culminated in a breakthrough for COVID-19 vaccines.

Pfizer, after the conclusion of its trials, recently announced that its COVID-19 vaccine was more than 90 per cent effective.

A few days after, Moderna also reported that its own version of the COVID-19 vaccine was 94 per cent effective.

The announcement by Pfizer, followed by Moderna, remains a game changer in the quest for COVID-19 vaccine.

Ogbuagbu, however, said he had been involved in the trials of the vaccines by Pfizer An Associate Professor of Medicine and infectious

disease specialist at Yale School of Medicine, Ogbuagbu, in an interview with ABC News, said he was super excited by the results, because having a very effective vaccine would help in achieving the so-called herd immunity.

A 2003 graduate of medicine

from the University of Calabar, he noted that currently, there were insufficient doses of the vaccine for everyone at the moment, but contended that enough doses should be available by the first quarter Continued on page 8

Ogbuagbu

Patience to Jonathan: I’ll Marry You Again and Again… Page 5 Sunday 22 November, 2020 Vol 25. No 9358

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Again, Economy Slides into Recession, Second in Five Years Experts list measures for recovery Rewane calls for stimulus, increased investment Utomi: Bring your sharpest brains into a war cabinet to get the best Prof. Uche Uwaleke: I see quick V-shaped recovery as effect of COVID-19 recedes GDP contracted for second consecutive quarter by 3.62% in Q3

Obinna Chima in Lagos and James Emejo in Abuja Analysts yesterday reacted to the news that Nigeria had officially entered another recession by urging the federal government to increase spending and encourage private sector investment.

They said this was in order

to stimulate economic activities, as Nigeria’s real Gross Domestic Product (GDP) for the third quarter of 2020 showed the country had entered its second economic recession in five years.

The analysts spoke in separate interviews with Continued on page 5

NNPC: Poor Liquidity in Oil Industry Hampering New Projects Says Buhari has never interfered in corporation's operations Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) has said commencing and continuing new oil and gas projects have been seriously slowed down by the liquidity challenges in the sector. NNPC, however, noted that despite

the crisis brought about by the COVID-19 pandemic and the effect on its activities, it was working diligently to ensure that for the first time in decades, its shareholders would be paid dividends by the end of 2020.

Continued on page 8

EL-RUFAI'S SON'S WEDDING FATIHA...

Senate President, Ahmad Lawan (left), and Kaduna State Governor, Nasir El-Rufai at the wedding Fatiha of the latter's son, Bashir and his bride, Halima Ibrahim Kazaure in Abuja... yesterday

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Patience to Jonathan: I’ll Marry You Again and Again Ex-president excited at the show of love from everyone Former First Lady, Dame Patience Jonathan on Friday said to her husband, former president Goodluck Jonathan, on his 63rd birthday, that if given the opportunity, she would marry him again and again, because he has been a good man.

This is as the celebrant, Goodluck Jonathan, was excited at the show of love to him by governors, some of his former aides, family members and friends, who paid him a visit and stayed back till late in the day.

Presenting her husband a customised birthday card, from where she read, the former First Lady said, "My husband, my hero, my king, the father of my children, I thank almighty God for choosing you to be my life partner.

"Not only are you the most loving husband a woman could ever wish for, but you are also my best friend. On this special birthday, I want to tell you how much I appreciate you in my life. It has been a blessing making this life journey with you.

"If I have to do it again my love, I would choose you to be my husband over and over. You are the best. To me, you mean the whole world and I love you more than words could ever express. May God bless you always. Happy Birthday."

However, while responding to the goodwill messages, Jonathan thanked the visitors for honouring him and commended his wife and other family members for organising the private get-together and most especially for their prayers.

"This (Friday) morning, I came down at about 6: 00 am and saw people already seated and waiting to pray for me to mark the day. That means that those people must have woken up from their houses before 5:30 am to be able to get to my house that early.

"And since that time up until this (Friday) evening, we have been receiving visitors.

I want to sincerely thank my

wife, who has put this together and thank all for coming here without any announcement in the newspapers or any form of text messages to invite guests," President Jonathan said.

The guests which included his former aides as well as serving and former governors from both the Peoples Democratic Party (PDP) and the ruling All Progressives Congress (APC) prayed for

him and thanked him for the good things he has continued to do to promote peace and the image of the country since leaving office.

A former Governor of Gombe State, Ibrahim Dankwambo, who spoke at the gathering, described Jonathan as a boss of inestimable value and a huge asset to Nigeria.

The other guests included Bauchi State Governor, Bala

Mohammed; Yobe State Governor, Mai Mala Buni; Kebbi State Governor, Atiku Bagudu; Jigawa State Governor, Abubakar Badaru and Ebonyi State Governor, Dave Umahi.

The event was also graced by a former Senate President; former Minister of State for Culture and Tourism, Dr. Idi Hong; former Minister for Health, who supervised the fight against Ebola in Nigeria,

Prof. Onyebuchi Chukwu; former Minister of State for Solid Minerals and the former Attorney General and Minister for Justice, Mohammed Bello Adoke.

Others were his former chief of staff, Chief Mike Ogiadhome; former Executive Secretary of the Christian Pilgrims Welfare Board, Mr. John Kennedy Opara and his former political adviser, Alhaji Ahmed Gulak.

CELEBRATING WITH JONATHAN...

L-R: Kebbi State Governor, Abubakar Bagudu; former Presidential Liaison OďŹƒcer, Kashim Ibrahim-Imam; Jigawa State Governor, Abubakar Badaru; Ebonyi State Governor, Dave Umahi; former President Goodluck Jonathan and Yobe State Governor, Mai Mala Buni, during their visit to celebrate with the former president on his 63rd birthday anniversary... Friday

AGAIN, ECONOMY SLIDES INTO RECESSION, SECOND IN FIVE YEARS THISDAY, yesterday, following figures published by the National Bureau of Statistics (NBS), which showed two consecutive contractions in second and third quarters, and the depth of the contractions said to be the worst in decades. They called for quick action to reflate the economy.

Those who spoke with THISDAY included Managing Director of the Financial Derivatives Company Limited and a member of President Muhammadu Buhari's Economic Advisory Council, Mr. Bismarck Rewane; an economist, Dr. Muhammad Rislanudeen; Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng; Associate Professor of Agricultural Economics at the University of Port Harcourt, Dr. Anthony Onoja; Senior Lecturer, Nasarawa State University, Professor Uche Uwaleke; and an economist and Associate Professor at the Lagos Business School, Dr. Bongo Adi. The experts also advised the federal government to increase support to the agricultural sector and small businesses to stimulate economic recovery and growth. They called for support for the manufacturing sector in order to boost employment generation and output, as Nigeria's real GDP contracted for the second consecutive quarter by 3.62 per cent in the third quarter of the year, compared to a growth of -6.10 per cent.

To them, the government should make interventions in key areas of the economy and lower interest rates to allow the real sector rebound following the crippling effect of the COVID-19 pandemic on businesses.

According to the Nigerian Gross Domestic Product Report (Q3 2020), cumulative GDP for

the first nine months of the year (January- September) indicate a growth of -2.48 per cent.

With the latest performance, the country has officially gone into a second economic recession, after the first in 2016, though it expects a quick recovery by the first quarter of 2021.

NBS said the performance reflected residual effects of the restrictions to movement and economic activity implemented across the country early in the second quarter of 2020 in response to the COVID-19 pandemic.

During the review quarter, aggregate GDP stood at N39.09 trillion in nominal terms, compared to N34.34 trillion in the second quarter, while real GDP stood N17.82 trillion, compared to N15.89 trillion in the preceding quarter.

Growth in the third quarter of 2020 was boosted by the non-oil sector, which contributed 91.27 per cent to growth in real terms, higher than the 91.07 per cent in the second quarter, and 90.23 per cent in the third quarter of 2019.

On the other hand, the oil sector contributed 8.73 per cent to total real GDP in the third quarter of 2020, down from 8.93 per cent in the second quarter. Real growth of the oil sector contracted to 13.89 per cent (year-on-year) in the third quarter, indicating a sharp contraction of 20.38 per cent relative to the rate recorded in the third quarter of 2019.

The average daily oil production stood at 1.67 million barrels per day (mbpd), or 0.14mbpd lower than the production volume in the second quarter, and 0.37mbpd lower than the third quarter of 2019.

In real terms, agriculture contributed 30.77 per cent to overall GDP, higher than the 24.65 per cent in the preceding quarter and 29.25 per cent in the third quarter of 2019.

The manufacturing sector’s contribution to growth stood at 8.93 per cent, compared to 8.82 per cent in second quarter and 8.74 per cent in the third quarter of 2019.

Trade also contributed 13.88 per cent to GDP, lower than the 14.28 per cent posted in the preceding quarter.

The NBS, however, noted that as the COVID-19 restrictions were lifted, “businesses reopened and international travel and trading activities resumed, some economic activities have returned to positive growth.�

It added that a total of 18 economic activities recorded positive growth in the third quarter, compared to 13 activities in the preceding quarter.

Analysts’ Reactions Rewane Commenting on the GDP performance, Rewane advised policymakers in the country to “accept the truth that we are in a recession.� He said, “During a recession you need a stimulus and you need investment, and if you are to get investment, you need policies that are consistent with your action.�

Rewane added, “This recession is going to be longer than we thought, even though not as deep as originally feared.

The recovery is going to be slow and painful, so policy actions and policy pronouncements have to be consistent.�

According to him, “Yes, we are in a recession, the numbers

show that the depth and the impact of COVID-19 were not as debilitating as originally feared.

But don’t forget that the impact of the #ENDSARS destruction will be shown in the Q4 GDP. “So, we are going to have a prolonged recovery. But the Q3 numbers reflect the partial reopening of the economy in August. You know, the airport and inter-state travels were opened that period. In our projection, initially, we thought that oil price will stay around $30 per barrel in Q3, but average oil price was $42 per barrel. So, oil price was at least 30 per cent above original projection. “If I may add, the reason why the economy did not decline to the depth we thought was also because of the oil price.�

Pat Utomi Also reacting was Prof. Pat Utomi, a political economist, who said, "The first thing any leadership that finds itself in the present economic situation needs to do is to, “bring everybody into the house so that they can be going in same direction. Right now, majority of Nigerians are outside the house, presuming there country to be in a tyranny. “Also, you must bring together your sharpest generals and bring them into a war cabinet in which everybody give their best to achieve a common goal.�

Rislanudeen In his submission, Rislanudeen stressed the need for continued support to agriculture, as well as Small and Medium Enterprises (SMEs) to improve business activity, especially agribusiness, agriculture value chain, and

manufacturing. He said this would in turn support increased employment generation and output growth.

According to him, “Two consecutive quarters of negative GDP growth implies Nigeria is officially in recession. This is coming just after emerging from another recession in second quarter of 2017. Since then, the economy has been growing, albeit, slow and epileptic, not at the same pace with population growth, at least. “Slide into recession was expected, as the impact of COVID-19 and lockdowns drastically reduced the price of oil in the international market and affected the revenue and foreign exchange earnings. This has, in part, led to spike in foreign exchange rate, increased unemployment, and elevated inflation rate, especially cost push inflation.�

Shelleng Speaking on the growth outcome, Shelleng said, “The government would need to spend in key areas and also lower interest rates to allow the real sector to pick up again.

"There have been a number of economic interventions so far, including payroll support, survival fund, youth funds, etc.

This is expected as a result of COVID-19 lockdowns and general slowdown of global economic activity. “There are some businesses that would literally die as a result of the lockdowns. Unlike developed countries, we did not have the buffers to cope with the shock to the economy.�

Onoja Onoja said the way out of the

present economic quagmire was for the Central Bank of Nigeria (CBN) to use “expansionary monetary policy to increase the money supply, increase the quantity of loans, reduce interest rates, and improve aggregate demand in the economy.� He said the fight against corruption must be taken to a higher level to block leakages in all aspects of the economy.

Onoja stated, “In economics parlance, any occurrence of GDP shrinkage in two consecutive quarters is adjudged technically as a recession. The recent contraction of the Nigerian GDP in the last two quarters affirms that Nigeria has entered another recession, the second in about five years. “This situation is expected, with the onslaught of the COVID-19 pandemic and fall in global oil prices this year.�

Uwaleke Uwaleke expressed optimism that the early passage of the 2021 appropriation bill will go a long way in supporting economic recovery. He said, though the economy had officially entered a recession, “I see a quick V-shaped recovery, as the effect of COVID-19 recedes and the impact of the interventions by the government and CBN begin to manifest, including the implementation of the Economic Sustainability Plan.�

Similarly, Adi advised the federal government to implement the various recommendations that the president’s Economic Advisory Council had made to the government. He called for increased collaboration between the fiscal and monetary policy authorities.

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COVID-19: Rising Cases, No Plans for Another Lockdown, Says SGF Stricter measures to strengthen system likely ahead of yuletide Links rise in new cases to protests Olawale Olaleye With the economy now back in recession, the nation is definitely not contemplating a second lockdown even though the Covid-19 cases are increasing by the day, the Secretary to the Government of the Federation and Chairman, Presidential Task Force (PTF) on coronavirus, Boss Mustapha, has said.

Mustapha, who hinted that the PTF is billed to meet tomorrow, Monday, November 23, and perfect strategies on how to contain the new wave of Covid-19 infection, however, said the nation might introduce new but stricter measures, going forward.

Although he claimed more facts did not support the idea of a second lockdown, Mustapha insisted that such a position would be the way to go if only Nigerians were willing to cooperate and stop acting as though the virus was a hoax.

Mustapha, who sounded very concerned with the increase in numbers while speaking exclusively to THISDAY, noted that the reality was that a second lockdown appeared more unlikely especially, because of the economy, which he stated was still recovering before sliding into another recession, alleged to be the worst since 1987.

The SGF, who quoted the National Bureau of Statistics as announcing the slide into recession, said her recent

“report showed that we have slid, albeit slightly, into recession, so we can’t allow another lockdown, in fact, we shouldn’t allow it, however, only if Nigerians cooperate.

It’s a collective responsibility and we all must play our parts. “If we continue to be reckless and act irresponsibly especially, during the yuletide period, which is our greatest fear, public health might demand certain measures are taken and we just might be left with no option. But, honestly, a second lockdown is not on the card and I pray we don’t go that route.�

He, however, linked the rise in new cases of coronavirus to the recent #EndSARS protests, which saw thousands of Nigerians, throng the streets in objection to alleged police brutalities in different parts of the country.

Also, addressing the issue of vaccine, which he noted had recorded some huge success from reports, Mustapha expressed concern about the politics of its distribution, which according to him, meant it was not automatic that the country would get it immediately it is approved and pushed into circulation. “The politics of the distribution of the vaccine is also there and that would be controlled by who is in need of it the most. So, it’s not just for the taking,� he observed.

That notwithstanding, Mustapha, who maintained

that Nigeria’s testing regime for travellers remained one of the best around the world, stated that the country would continue to maintain a rigid testing regime, which stipulates 72 hours before arriving Nigeria as well as invoke stricter protocols as a way of strengthening the system against further spread of the virus.

Insisting that the new measures had become necessary ahead of the yuletide festivities

since people would be going in and out of the country, he also identified one of the problems with the testing regime as travellers not turning up for testing even after paying for the service. “I must say we are worried about the yuletide season, because of those going and coming into the country, and the problem has been that travellers hardly turn up for testing even after paying, when

they arrive the country. But we are monitoring the laboratories and their activities at the airport and following them up religiously,� he explained.

Against this backdrop, Mustapha said there is going to be a meeting of the PTF committee tomorrow, where all the issues concerning the increase in cases of Covid-19 would be discussed.

He said the meeting would consider among others, the

possibility of another lockdown, which is though not supported by the present realities as well as the introduction of other measures that would help check a further spread of the virus.

The Monday meeting, he noted, would finalise the choices before them and the details before they are communicated to the public, adding that the implementations would be strict and decisive.

DUTY TOUR ON LAGOS-IBADAN EXPRESSWAY...

L-R: Special Adviser on Works and Infrastructure to Ogun State Governor, Engr. Akeem Adesina; Ogun State Governor, Dapo Abiodun; and Minister of Works, Babatunde Raji Fashola, during the town hall meeting and inspection of the on-going reconstruction of Lagos-Ibadan express road at Ogere, Ogun State... yesterday

NIGERIAN DOCTOR, ONYEMA OGBUAGBU IN COVID-19 VACCINE BREAKTHROUGH of 2021.

He was of the belief that if a lot of people received the vaccine and were protected against the virus, it would go a long way in containing its spread, which has been ravaging the world since the outbreak of the virus in Wuhan, China.

Pfizer has said it would launch a pilot in four states in the United States, but there have been concerns as the vaccine needed to be stored at -94 degrees Fahrenheit (-70 degree Celsius).

But Ogbuagbu has said preparations were being made already to surmount those challenges.

Ogbuagbu is in the clinician-educator track and Director of the HIV Clinical Trials programme of the Yale

AIDS Programme, Section of Infectious Diseases of the Yale School of Medicine.

His profile obtained from the website of Yale School of Medicine revealed that in response to the COVID pandemic, he was the Yale principal investigator on multiple investigational therapeutic and preventative clinical trials for COVID-19, including remdesivir (now FDA approved), leronlimab and remdesivir and tocilizumab combination therapy as well as the Pfizer/ BioNTech Vaccine trial.

He is one of the twin sons of Prof. Chibuzo Ogbuagbu (former VC of ABSU and Abia SSG), whose parents had in New Haven CT, when they went for their doctoral programmes at Yale.

The Ogbuagbus were reported to have returned to Nigeria, where Onyeama studied medicine and then returned to Yale.

Ogbuagbu’s responsibilities at Yale include educating and training medical students, residents and infectious diseases fellows in various capacities in inpatient and outpatient settings; and through structured course work and other teaching sessions.

As a faculty of the HIV training track of the YaleInternal Medicine primary care programme and for over six years as a faculty of the Human Resources for Health program in Rwanda, he has extensive experience with curriculum development, structuring of residency

training programmes, and mentoring residents and faculty.

In Rwanda, specifically, he mentored medical residents and junior faculty in quality improvement and clinical research projects that were locally relevant and addressing important infectious diseasesrelated problems (particularly HIV/AIDS and antimicrobial resistance).

In addition, Ogbuagbu has facilitated meaningful educational and research collaborations between faculty and trainees across institutions.

As the programme director of World Bank and HRSAfunded efforts supporting the Liberia College of Physicians and surgeons (LCPS)-run Internal medicine residency training programme, he

oversaw the selection and deployment of faculty to Liberia, and was responsible for educational programmes and activities aimed at strengthening the residency training programme.

Overall, his expertise and collective experiences to date had seen him to design and run successful projects around capacity building in low-resource settings, including developing and implementing innovative and robust medical training and research programmes for faculty, fellows, residents and students.

For five years running, he has been the director of the Yale AIDS Programme, HIV clinical trials programme, and a principal investigator on numerous pharmacokinetic,

phase 2 and 3 safety and efficacy trials of novel antiviral compounds (HIV).

More recently, given the alarming rate of new infections among men who have sex with men (MSM), he had focused on HIV prevention trials including being a co-principal investigator on a Yale CIRA funded project, which has supported the formation of a cohort of men, who have sex with men and are at high risk for HIV and are engaged in HIV PrEP services in order to study the impact of substance use on retention in care and adherence to PrEP. Ogbuagbu is also a lead investigator on the international DISCOVER trial evaluating TAF/FTC vs TDF/ FTC for HIV prevention among MSM and transgender women.

of excellence and declare dividends to Nigerians and shareholders. We are optimistic that at the end of 2020, NNPC should be able to declare dividends to Nigerians, in spite of the impact of the COVID-19 pandemic.�

Kyari reiterated that the COVID-19 pandemic resulted in a net industry loss of about $1 trillion this year.

He said, “According to industry analysis carried out in quarter one, 2020, E&P companies are at risk of losing about $1 trillion in revenue by

the end of 2020.

"With new lockdown orders due to resurgence of COVID-19 in Europe and other industrial nations, the estimated revenue shrinkage may likely grow above Rystad Energy estimates by the close of 2020. “This financial impact and the resultant poor liquidity position is making funding of both existing and new projects more difficult as companies cut spending and defer projects.�

On the issue of political

NNPC: POOR LIQUIDITY IN OIL INDUSTRY HAMPERING NEW PROJECTS Speaking during a media parley in Abuja, Group Managing Director of NNPC, Mallam Mele Kyari, stated that the organisation was now more open to public scrutiny with its decision to publish its audited financial report for the first time in 43 years. Kyari noted that other transparency initiatives taken by the corporation included its monthly financial reports and joining as a supporting organisation of the Extractive Industries Transparency Initiative (EITI). He added

that although the pandemic had prevented the corporation and its partners from attaining the three million barrels per day crude oil production target, NNPC was determined to cut its losses and become a profit making concern.

The NNPC boss said the national oil corporation had been able cut its losses by over N800 billion between 2018 and 2019, stressing that based on its projections, it would declare dividends in 2020.

Kyari stated that the crisis in the global oil market had

forced companies, including NNPC to further cut down losses, rework project costs, as well as review the production cost per unit of crude oil to remain competitive.

The GMD declared that in the recent past, only the current administration of President Muhammadu Buhari had not interfered in the operations of NNPC. He said this had given the corporation the free hand to take decisions based on facts and figures.

According to him, “There is no company in the country

which has cut its losses within one financial year by N800 billion. We have improved efficiency by cutting 97 per cent in our losses. “NNPC has never published its audited financial statement in 43 years. We came and started doing that and released the 2018 financial statement.

We were not afraid of doing that and there were a lot of criticisms that we lost money in refinery operations and pipeline business. “Our vision is that NNPC will become a company

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Ngige: ASUU’s Exemption from IPPIS Temporary Onyebuchi Ezigbo in Abuja The Minister of Labour and Employment, Senator Chris Ngige, has said the federal government's proposal to exempt some members of the Academic Staff Union of Universities (ASUU) from the Integrated Payroll and Personnel Information System was only a temporary measure pending the conclusion of the integrity test on the University Transparency and Accountability Solution.

Ngige, who clarified the position of the government team during Friday's negotiation with ASUU, said it was not true that government had abandoned IPPIS and that ASUU should not be on IPPIS. "I think it is better, because a lot of people are quoting us out of context, saying that we abandoned the IPPIS and that we said they should not be on IPPIS. It is not true.

"What we said in the meeting and what we agreed was that in the interim for the transition period that UTAS is being tested

by NITDA and the Office of National Security Adviser for cyber security. “For those transition periods, ASUU members that are not yet on IPPIS will be paid through the platform with which they were paid the President compassionate COVID-19 payment done to them between the months of February and June.

"That platform is a hybrid platform between IPPIS and

MINPSI platform for the transition period. That is what was used. It's a hybrid," he explained.

According to him, the reason for reaching that position was because no government payment would be done without IPPIS knowing.

"So, there is a handshake between IPPIS and MINSI platform and that was what was used in paying them for that period and so, we are going to continue with that until UTAS undergoes all the

integrity test and cyber security test and it is confirmed for use," he added.

On new offer made to ASUU, the minister said prior to the meeting of Friday, government had brought an aggregate offer of N50 billion to ASUU. "The offer made is clear.

You can understand it this way. Prior to meeting of yesterday, Government brought an aggregate offer of N50 billion to ASUU. N20 billion for revitalisation to show good faith that government is still

with them on the issue of funding for revitalisation and pending the affirmation of the new sources of funding public education. “There is a committee on that and the committee is working on sourcing new education funds. It is a NEEDS committee.

So, pending that NEEDS committee effecting a new funding source and strategy, government offered them N20 billion for revitalisation apart from the funds that are coming from TETFUNDS that is also

used for revitalization. “They refused the N20 billion and said that they wanted N110 billion and that N110 billion is 50 per cent of a tranche of N220 billion. Government said they don't have that kind of money and then increased that N20 billion by N5 billion to become N25 billion and if it becomes N25 billion, the Earned Allowances will be raised to N40 billion immediate payment, making for a total of N65 billion for revitalisation and Earned Allowances in the

universities.

"Government then said alternatively, ASUU could opt for the revitalisation to move up to N30 billion, while the Earned Allowances for all the unions in the universities would drop from N40 billion to N35 billion. That is the second basket offered them – either of the two. Either you choose N25 billion revitalisation plus N40 billion Earned Allowances or revitalisation of N30 billion and N35 billion Earned Allowances," he stated.

NSUKKA UNITY RALLY...

Governor Ifeanyi Ugwuanyi of Enugu State (middle) with Senator Ayogu Eze (2nd right); member representing Nsukka/Igbo-Eze South Federal Constituency, Rt. Hon. Pat Asadu (right), former State Chairman of the Peoples Democratic Party (PDP) and Chairman, Odinma Nsukka, Engr. Vita Abba (2nd left) and the Chairman of the Nsukka Unity Rally Planning Committee, Dr. Fide Odoh, when the people of Enugu North (Nsukka) Senatorial District, organised a rally in support of the governor in Nsukka... yesterday

Transcorp Hilton Abuja Wins Four Awards at 2020 World Travel Awards Named Africa’s 'Leading Business Hotel' for the sixth consecutive year Transcorp Hilton Abuja has been honoured with four (4) awards including Africa’s Leading Business Hotel for the sixth consecutive year at the 27th annual World Travel Awards.

The hotel, which is owned

by Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc, also won the awards for Nigeria’s

Leading Hotel, Nigeria’s Leading Business Hotel and Nigeria’s Leading Hotel Suite (the Presidential Suite).

Commenting on the award, the General Manager of Transcorp Hilton Abuja, Kevin Brett, said, “We are delighted once again to receive the World Travel Awards in various categories. It is a testament to the fact that the hard work and commitment our team put

in daily is recognised and appreciated�. Speaking further, he said “I thank our guests who through their continuous patronage and feedback have helped us retain the number one position in the Nigerian hospitality industry�

The Managing Director, Transcorp Hotels Plc, Dupe Olusola, in her remarks, highlighted the significance of receiving such an award during

the COVID-19 Pandemic. She said, “It is such a pleasure to receive the ultimate seal of excellence in the global tourism and hospitality industry from the World Travel Awards.

At a time were travellers are exploring only the best hospitality products, the significance of this recognition is truly important�

According to the organiser of the award, this year’s

World Travel Awards nomination programme reported record and never before seen visitor traffic and engagement from the public voter (the all-important tourism consumer) despite the incredible challenges faced by our industry over the course of 2020. This shows that as the global recovery begins, the appetite for tourism has never been as keen and

offers hope and much-needed encouragement to us all.

World Travel Awards was established in 1993 to acknowledge, reward and celebrate excellence across all key sectors of the travel, tourism and hospitality industries. Today, the World Travel Awards brand is recognised globally as the ultimate hallmark of industry excellence.

Army Confirms Carrying Live Ammunition to Lekki Tollgate Insists it was for protection of its force The Nigerian Army yesterday admitted that soldiers were given both live and blank bullets when they were deployed to disperse #ENDSARS protesters at Lekki toll gate on October 20, 2020.

Brigadier General Ibrahim Taiwo, commander of the 81 division of the Nigerian Army, broke the news while testifying before the judicial panel the Lagos state government set up to probe the incident.

This is the first time the Nigerian Army has admitted carrying live rounds to the

Lekki toll gate.

The army statement also contradicts previous statements about the incident including from Taiwo himself who told the judicial panel previously that the soldiers were firing in the air and firing blank ammunition.

Answering questions on the incident while being cross examined by Olumide Fusika, a Senior Advocate of Nigeria (SAN), Taiwo said the live rounds were not used on protesters.

He said they were meant

for the protection of the army team that was deployed to restore order in the state.

The army commander said while the soldiers who opened fire used blank bullets, their colleagues with live rounds were on ground to protect them from suspected hoodlums who fomented trouble. Taiwo said the military responded to stone attacks with gunshots.

He said soldiers came under attack immediately when they arrived at the scene.

He said the soldiers did not have the intention to disperse

the protesters but were on patrol to clear up the Lekki, Eti-Osa corridor.

Taiwo said the soldiers were, however, attacked by hoodlums around the Oriental Hotel, Lekki, and one of them sustained injuries.

He said: “We had men and materials – vehicles and rifles for shooting. A portion of the force were carrying live bullets in case they were attacked.

Another portion will carry magazines charged with blank ammunition,� he said. “The soldiers will be using

both live and blank bullets and in this particular case, we saw that this protest had been infiltrated by hoodlums. “We had peaceful protesters no doubt, but there were hoodlums who sought to take advantage of the protest. “They were pelted just before Oriental Hotel, their response was to fire blank ammunition. They (soldiers) were stoned just as they dismounted. “By the time they fired a few shots in the air, the hoodlums hightailed it. Our

mission was not to clear the protest, we were just on our way to ensure normalcy on the Eti-Osa corridor. “One officer was wounded, he was stoned on the lips. If we are attacked with stones, the only option is gunshots.�

In the aftermath of the shooting, the army denied any involvement, describing reports of the incident as "fake news," before backtracking and saying that soldiers were present but fired their weapons in the air and used blanks, not live rounds.

challenge of electricity. The biggest challenge we have here is to take electricity to homes and industries and to use the resources we have to create that energy this country needs. “Today, the two reasons we are not getting electricity are because the production is low and we are not able to transmit

it to those who need it. That means there is a bottleneck in transmission and distribution system.�

Kyari said despite the difficult times in the industry, NNPC was able to maintain its obligations to the Federation Account for seven months without fail.

NNPC: POOR LIQUIDITY IN OIL INDUSTRY HAMPERING NEW PROJECTS meddling in the operations of NNPC, Kyari explained that having worked for the corporation for almost three decades, it was under the Buhari administration that all forms of interferences stopped.

He stated, “I can confirm that the privilege we have today in NNPC of having unfettered

control without any distraction or interference to make decisions and be accountable and responsible for our decisions has never happened until this government. “I can tell you this because I have been around for 29 years and have worked closely with top management of the NNPC

for about 15 years. This is the only president who has never asked NNPC to do something. “The president only wants to know and be sure that what we are doing is in the best interest of the country.�

The GMD stated that Nigeria remained more of a gas country than oil, disclosing that the

corporation’s new focus is on gas development, as it is the most resilient source of energy in the energy transition process.

He explained, “The only hydrocarbons that survived during the COVID-19 with minimal negative change was gas. Gas will help the country out of its major

SUNDAY NOVEMBER 22, 2020 • T H I S D AY

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NOVEMBER 22, 2020 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

EDITORIAL

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

UNMASKING BOKO HARAM SPONSORS The conviction of six Nigerians in UAE offers a clue to unearthing some sponsors of the terror group

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or the past 11 years, a variety of ideas and thoughts have been presented on how Boko Haram raises funds. Many local and international security experts wager that the insurgents make their money with which they carry out their nefarious activities through membership fees, extortion, bank robberies, kidnappings for ransom, drug trafficking, etc. But the recent arrest and conviction of six Nigerians by the federal appeal court in the United Arab Emirates (UAE) has opened a new vista in understanding how the terror network operates.

In sentencing two Nigerians to life imprisonment and four others to ten-year each, the Abu Dhabi court has revealed that funding the group may well rest with local sympathisers, including public officials. Court records indicate that between 2015 and 2016, the convicts transferred the sum of $782,000 from Dubai to Nigeria in aid of Boko Haram with their enablers exposed. And with the report from the UAE, we can now understand why Boko Haram continues to launch deadly attacks, not only in several communities in Nigeria but also in some countries sharing the Lake Chad Basin.

What reports from the UAE indicate clearly is that the insurgency has lasted this long due to financial and logistical supports offered by Nigerian sponsors.

This is why the federal government should deploy diplomatic channels to seek details of the case. The Attorney General and Justice Minister, Abubakar Malami, said the federal government has reached out to the UAE but that the country was yet to respond.

"Nigerian government has written firstly for copies

of the proceedings, which will give the opportunity to see whether justice was done or not. And on whether they have committed the crime, we requested to know who and who are involved so that the Nigerian government will know what to do next,” Malami reportedly said.

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The real value of the UAE convictions is that it offers the federal government a window to uncover the enablers of Boko Haram both here at home and in the diaspora

Letters to the Editor

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S U N DAY N E W S PA P E R EDITOR SHAKA MOMODU DEPUTY EDITORS OLAWALE OLALEYE, TOBI SONIYI MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

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 BOLAJI ADEBIYI , PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTORS ERIC OJEH, PATRICK EIMIUHI ASSOCIATE DIRECTOR SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA TO SEND EMAIL: first name.surname@thisdaylive.com

uch a feeble approach to a serious problem that has become the hallmark of the administration will not do in this instance. This is a critical national security challenge that should be taken up at the presidential level. Never has there been such a veritable clue to unearth the sponsors of the terror group. There are two key findings in the report from the UAE that are now in the public domain. One, Boko Haram enjoys the support of some key government agencies in Nigeria and two, the insurgents launder money with the aid of some Bureau de Change operators.

These are good leads on the Boko Haram insurgency which started in 2009, and has claimed some 30,000 lives, displaced more than two million people and has cost the nation hundreds of billions of Naira.

Even as we await the long-expected delivery of Super Tucano turbo-prop warplanes from the United States to boost the fight against the insurgents, the federal government needs to reappraise its strategies. The hype on the expected aircraft as a one cure all solution raises serious operational questions. At an elementary level, it seems unwise to broadcast such details. Besides, it is not clear what the manual on fighting terrorists stipulates about the use of communication. Both the army and the air force continue to gleefully announce the arms and ammunitions they expect. Perhaps this is meant to secure the confidence of the public while spreading fear and eroding morale in enemy ranks. But it is unhelpful because Boko Haram and its allies win the high ground by following each of these claims with one spectacular hit or another. This earns for them an image of invincibility.

Meanwhile, the real value of the UAE convictions is that it offers the federal government a window to uncover the enablers of Boko Haram both here at home and in the diaspora. The Central Bank of Nigeria (CBN) and the intelligence services now have a useful lead through the money trail of the convicts.

Many have since suspected that the insurgency is being sustained by some communal endorsement of its creed. Sadly, that is what the recent judgement from the UAE has just confirmed.

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 (950- 1000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

ASUU STRIKE AND THE COMMON MAN

uring my pupillage in primary school, I could remember a song which we often sang while in assembly. Even though as at that time, I could not sing the song well, I was able to grasp the core message that ‘children are the leaders of tomorrow’.

My thought was the future was for all, unbeknown to me, the future is not for the child of the common man. With this current democratic dispensation, the saying is incongruent with reality.

If at all the child of the common man has future to lead tomorrow, today, the future is seized by the federal government and

the ASUU. Considering the lackadaisical approach of our leaders when it comes to tertiary institutions, it is obvious they care little; this is because their children don’t attend public schools and tertiary institutions at home. They send their children abroad, to expensive, luxurious and crème de la crème universities where schools dare not go on strike.

They acquire quality knowledge from renowned teachers and professors so that when back home, they would be deemed fit for big governmental positions.

The incessant ASUU strikes has prompted those from the middle class to

look for alternative by sending their children to Cotonou, Benin Republic, Ghana, Uganda, among others, where within two years or less, one would graduate and be issued a certificate equivalent to that of Nigeria. Those who cannot afford this are at the mercy of ASUU and the federal government.

This is not the first time ASUU is embarking on strike to air its grievances. But it is one of the longest strikes embarked by the union. This one is about eight months and academic activities in public universities have been suspended ever since.

Students have been left to watch their future being

suffocated at the hands of these two elephants.

I thought the federal government would be proactive when approaching problems, looking at how the nation found itself in a catastrophe as a result of the ENDSARS protests. I am very sure government wouldn’t want to see ENDASUU Strike.

The students are fed up staying at home. I am sure if our elitist politicians’ children are in public universities, the ASUU strike would have been resolved since.

ASUU is no saint, but the federal government should take the lion share of the blame. This is because, had the government honoured the memorandum of understandings and other agreements reached, the strike would have

been unnecessary. ASUU and the federal government should come to a compromise and stop playing football with students’ future.

ASUU should not know that its notoriety when it comes to strike is giving it a bad name in the eye of the world.

ASUU should restrategise and adopt other means of airing their grievances if truly their struggle is for the improvement of public universities in Nigeria. More often, students are at the receiving end of their recurrent strikes.

End the strike now and give us back our future! So that the labour of our heroes past shall never be in vain.

––Mahmud Yahaya, Faculty of Law, Bauchi State University, Gadau

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ NOVEMBER 22, 2020

OPINION

NUHU R IBADU AT 60

Abdulaziz Abdulaziz pays tribute to Ribadu, pioneer Chairman of the Economic and Financial Crimes Commission, at age 60

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hen the quintet of us met early in September to moot the idea of commemorating his 60th birthday there was thick apprehension. How would the man receive this? This question went round. Do we inform him, carry him along, or—as usual with things like this involving him, just pull a surprise? We know the subject all too well and could, with exactitude, predict his reaction. It was agreed, at the end of that meeting, that two of us mention it to him separately, to gauge his reaction. I went first and tried to understate what it was on the cards, so as not to alarm him. “It was something small we’re thinking of doing,” I said. Before I took in a breath, he replied curtly: “What for? No! There is no need”. The plan was to go on no matter his initial reaction. I know the man will be thanking his stars now that our plan has failed.

Mallam Nuhu Ribadu, who turns 60 yesterday, November 21, is the most modest public figure I have known. He lives a simple life and completely loathes ostentation; from the grandiose—like throwing a birthday party—to the mundane, like riding exotic cars or wearing glamorous clothing. He is warm around people and wears his heart on his sleeve—passionate and blunt even if sometimes impulsive and politically incorrect. His stoicism and forbearance are atypical of typical politician. His patriotism is legendary, with complete blindness to ethnoreligious or any sectional schisms.

I think the first time I saw him was one evening in April, 2010, at Mambayya House, in Kano. He was a guest at that year’s annual Aminu Kano Memorial Lecture. I was there to report the event for my then employer, the LEADERSHIP Newspapers. When we eventually met one-on-one at the beginning of 2013, we struck an instant chord. I got the opportunity of having one of those his few and far-between media interviews. I went along with my senior colleague, Amos Dunia, who was well prepared for the encounter.

We got a very good interview, which spread, unusually, into four pages.

By the second or third time we met, some three months after the interview, Mallam Ribadu made a rather surprising request.

He wanted me to get him ‘a smart young person’ who could help him on a project he was working on; someone who is good with research and can help speech writing, among others. He was still trying to settle down to a normal life after the series storms and bubbles—his ouster from office as the pioneer chairman

of the Economic and Financial Crimes Commission (EFCC), and subsequent two-year exile-cum-work in the UK and US; his failed presidential bid; his United Nations assignment in Afghanistan, and the phenomenal petroleum revenue inquest.

My almost off- the-cuff recommendation was my friend, Gimba Kakanda. He was then a rising writing star with idealistic socialist ideas. I talked Kakanda into pausing his impending study trip to India, for this. When I took him to see Mallam one day in early May 2013, something happened which appeared like orchestrated conspiracy: the two of them convinced me to leave my job as Assistant Editor at Blueprint to join Gimba in what would become my most exciting working sojourn.

Working with Mallam Nuhu Ribadu for three years (2013 to 2016) and associating with him ever since has shaped my life in more ways than I can count. Over the years, he grew from being an admired icon and boss, to a model that is revered, into a school that you learn from daily and a father-figure with exceptional demonstration of care.

Ultimately he shaped my worldview into a less and less materialistic one; strengthened my sense of justice and equity; emboldened me into a more courageous person, and, on a lighter note, changed my sense of dressing and somehow unsuspectingly enrolled me into the ‘Monogamous Men Club’, of which he’s a strong adherent.

I have travelled with Mallam all over the world; from America to Zambia, and from Aba to Zaria. As the saying that travel exposes a person’s real character, from my trips with him I have learned a lot.

Two things stand out: One is his discipline. Unlike many a person of his standing, he possesses an amazing sense of self-control. Once in a room, he would just ask for two things: wi-fi and coffee, and that would be it, till the next day. He likes exploring the countryside and indigenous cultures, but never shopping or anything banal.

Second is his fearlessness. I have heard stories, including the

Two things stand out: One is his discipline. Unlike many a person of his standing, he possesses an amazing sense of self-control. Once in a room, he would just ask for two things: wifi and coffee, and that would be it, till the next day

famous encounter in which he slapped an armed robber while a student at the Ahmadu Bello University, Zaria, in the early 1980s.

I first witnessed this part of him in November 2013. His bosom friend, former Katsina governor, Ibrahim Shema had lost his dad.

We left Abuja around 8pm, with him saying we would spend the night in Kaduna and proceed to Katsina the next morning.

Moments after we hit the road he lifted his head from his iPad; “Are we not following that road?” he asked when he noticed that the driver had passed the detour that would lead us to the ‘faster’ Bwari-Jere road. The driver explained that he didn’t follow the road because it was dangerous—kidnapping was then picking up on that route. He hissed. “Why should we abandon a road because of anybody?” Silence. By the time we arrived on the outskirts of Kaduna he asked for the time. It was 10pm. “It will just be a waste of time to sleep here and again travel in the morning.

We can just complete the journey.” We arrived in Katsina at 1am.

The fearlessness is not only in relation to dangerous humans.

He seems not to bother about dangerous animals, too. At the end of a meeting we attended in some resort hotel close to the Victoria Falls, in Zambia, we took a stroll to see the famed site. We walked past the busy areas, passed the inquisitive tourists. We passed all the adventurous white folks. It was now only the two of us in the thick of the groove, and by this time, my heart was in my mouth.

When I cautioned him that “there are no more humans here”, he shot back: “Are we not humans?”

Mallam Ribadu is the most self-effacing person I have known.

In words and in action, he tries hard to evade the centre-stage, except, of course, where it is absolutely necessary. Many a ‘big man’ announce entry at events by sauntering through the front door oblivious of disrupting proceedings, but this is one spotlight he avoids. Mallam would always enter through the back door and find an inconspicuous chair to hide. He would also rebuff attempts to take him to the front except when he encounters an adamant host, or has a pre-defined role to play at the occasion.

He is a lawyer, with a graduate degree in the field; a retired Assistant Inspector General of Police (AIG); a graduate of the National Institute for Policy and Strategic Studies; the founding Executive Chairman of the EFCC and holder of an honorary doctorate degree from Babcock University, Ogun State.

––Abdulaziz works as a journalist in Abuja.

(See concluding part of the article on www.thisdaylive.com)

Why Nigeria Is Not Making Rapid Progress The challenge confronting Nigeria is acquiring scientific knowledge, skills and capabilities, argues Francis E. Ogbimi

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o one solves a problem s/he does not understand.

Putting this statement in another perspective, we say, once our conception of a problem is wrong, we cannot find solution to it. Nigeria is not making rapid progress because those who are managing Nigeria’s development do not understand the human development process. Let us consider the two main aspects of the development of human societies – economic and political development.

History shows that nations achieve economic development as a platform for political development. Britain achieved the modern industrial revolution (IR) in the period 1770-1850. The Febians Society and other socialists and labour unions in England formed the Labour Representation Committee in 1900 which metamorphosed into the Labour Party in 1906 as part of the strategy to fight the oppression of workers by business owners. The United States of America achieved the modern IR in the period 1850-1900. By 1900, the many Americans including women in all states, black men in the southern states, Indians and some naturalized immigrants still could not vote. Women could not vote in the United States till 1920.

Because history shows that the political route is the longer one, the younger nations of Africa ought to emphasize economic development more and adopt committee-type governments in which politicians are given very limited powers rather than executive presidential system in which inexperienced, incompetent and illiterate politicians are given executive powers to mismanage nations based on the fallacious claim that political development precedes economic development in a nation.

Nigeria is an agricultural nation. Again, history tells us that all the technologically advanced nations of today were also agricultural nations in the past. While Nigeria produces solely agricultural goods, the technologically advanced nations apply science in solving their problems and produce many scientific goods. The challenge confronting Nigeria and other African nations therefore, is acquiring scientific knowledge, skills and capabilities (KSCs), apply them in solving problems and transforming the agricultural economies into industrialised ones. Sadly, those who manage the Nigerian economy never talk of acquiring and applying scientific-KSCs; they always talk of primitive agriculture.

The process of transforming an agricultural economy into an

industrialised one is a scientific one which non-scientists do not understand. That is, economists and other social scientists, accountants, bankers, lawyers, etc., who have been managing the economy do not understand the development challenge confronting Nigeria. How could they solve a problem they do not understand? This explains why Nigeria cannot make rapid economic progress.

Let us discuss four grave errors non-scientists managing the Nigerian economy have been making for decades.

First, economists and co., measure growth as change in GDP. Mere increase in GDP does not necessarily translate into real growth and increase in employment. For example, Nigeria’s increase in GDP can come from increase in the international price of oil. Nigerians make very little contribution to the exploration and production of the Nigeria’s oil. That was why the GDP growth of up to 7 per cent measured during President Jonathan’s administration meant nothing to Nigerians – it was growth without development, no increase in employment.

Economists and co, do not know what to measure to promote the industrialisation of an agricultural economy. This is the reason economists cannot promote industrialization.

Second, economists and co., cannot measure growth in scientific-KSCs because whereas growth in scientific-KSCs is achieved through learning, economists and co., claim that it is through capital investment that a nation achieves sustainable economic growth and industrialization (SEGI).

That is why virtually everyone in government in Nigeria campaigns embarrassingly for foreign investments and opening up the economy. Mere capital investments do not promote SEGI. Capital investment merely acquires structures. All structures experience depreciation; they are therefore Depreciating Assets(DAs). All structures immediately begin to depreciate and cause economic stress, once they are acquired or erected.

Economists and co., have always been urging governments to invest in infrastructure. They have been offering bad advice.

An agricultural nation emphasizing capital investment may be likened to one attempting to fill a profusely leaking water-tank with water. This is the reason Nigeria’s infrastructure is always in bad shape. Nigeria sees every problem in terms of lack of money. Nigeria would rather build a bank to solve each

problem but solves no problem. To economists and co., Nigeria has low Megawatt of electricity installed because it has not invested enough capital. They are wrong. The performance of the GENCOs and DISCOs can only improve with Nigeria acquiring more scientific-KSCs, otherwise worsen because of the depreciation of the generator and the distribution systems.

The learning-people on the other hand appreciate in intrinsic value with time and learning intensity; they are therefore, Appreciating Assets(AAs). Hence, a nation emphasizing learning (education, training, employment and research) may measure scientific-KSCs in terms of some or all of: one) N – the number of people involved in productive work or employment in a nation; two) M - the level of education/training of those involved in productive activities in the economy and of the people of the nation; three) L – the linkages among the knowledge, skills, competences and sectors of an economy; four) r – the learning rates or intensity in the economy and especially among the workforce; and five) n – the experience of the workforce and the learning history of the society.

All the variables are related to the learning-people. The higher the values of the variables, the better is the economy. It is because industrialisation is a learning and capability-building process that any society that learns and builds-up knowledge, skills and competences to critical levels achieves Industrial Revolution (IR) and builds necessary infrastructure as fruits of IR. Third, economists and co., erroneously encourage agricultural Nigeria to borrow money and erect complex infrastructure (DAs) to promote growth and attract foreign investments.

History shows that after nations have achieved Industrialisation, they build relevant and adequate infrastructure as fruits or aftermath of industrialization. Economists and co., have therefore been encouraging young Nigeria to build the roof of the house before laying the foundation. A nation doing that cannot make progress. This is the reason Nigeria is always indebted through obtaining long-term loans to erect short-term structures.

––fogbimi@yahoo.com (See concluding part of the article on www.thisdaylive.com)

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ NOVEMBER 22, 2020

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LETTERS

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GOV WIKE AND THE IGBO ISSUE

s at the time of writing this, the military is still occupying a part of Rivers State territory that borders Abia State. This part of the state is called Oyigbo.

Few days before writing this, the traditional ruler of the community cried out calling on the governor to call the soldiers to order.

He said that individuals are now unleashing soldiers on other persons to settle personal scores.

There have been barrage of unpalatable stories of the human rights abuses perpetrated by the military in this occupied territory and the gory tales of extra judicial killings of civilians often categorized as IPOB members. In all of this, there is no doubt that the innocent has paid the ultimate price. The Ohaneze Ndigbo and some Igbo leaders visited Rivers State some weeks back to ascertain, according to them, whether the news they read on social media about what may be described as ethnic cleans-

Wike ing against the Igbo in Rivers State is true. They left with assurances that the government of Rivers State is a responsible government that would not engage in such acts of ethnic balkanization.

Only few days ago after the Port Harcourt visit, the same Ohaneze

Ndigbo has raised the alarm that Oyigbo is not an occupied territory and called for a stop of the targeted killings. Wike severally has denied any ethnic cleansing going on in Oyigbo. But his actions recently lead credence to the fact that the army may be in Oyigbo to

wipe out the remnants of the IPOB members. And in doing this it does not matter the method that is used. The NBA set up a panel to visit Oyigbo and hold a public hearing on the atrocities alleged to have been perpetrated by the soldiers. This public hearing was called off at the last minute. I personally got disappointment and so were the victims and other individuals who were ready to testify before the panel.

At the ceremony marking the beginning of a new legal year, governor Wike let he cat out of the bag when he said in his usual boisterous manner that anybody who has any complaint should channel it to the judicial panel of inquiry set up by the state government, even when he knows that the term of reference of the panel does not include the activities of the army in Oyigbo after the #endsars protest. Funny enough, the same governor was in a programme where he accused the Buhari

A CUE FROM SANWO-OLU’S CONTINUITY STANCE

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major symbol of good governance is steadiness in policy formulation and implementation.

One of the banes of development in the country is lack of continuity in government’s policies, programmes and projects. In our clime, the abandoned project syndrome has been a serious albatross to infrastructure development, as every new government wants to embark on new projects, without paying attention to those on the ground before.

This, no doubt, is inimical to growth and development, as political ideologies that are favorable to the prosperity of the people are built and established on the structures of continuity to ensure effective management of public resources.

Continuity is not just about a particular political party being in power over a long period. Rather, it is about the ability of a government to have unity of purpose, focus and clear-cut direction.

It is about subsequent governments ensuring that projects embarked upon by preceding ones are not abandoned.

Presently, Governor Babajide Sanwo-Olu of Lagos State represents a shining example of this model of continuity. One of the major promises he made, upon inauguration on May 29th, 2019, was to complete outstanding projects in the state. Till date, he has kept faith with the promise.

A few examples will suffice. In the health sector, the Sanwo-Olu administration

completed and commissioned the Eti-Osa Mother and Child Centre (MCC) in its first 100 days in office.

The project was initiated in 2013 as part of efforts to tackle maternal death in the state.

Governor Sanwo-Olu mobilised men and resources to ensure the project saw the light of the day.

Today, as they say, the rest is history, as residents along the axis have continued to enjoy the dividends of that singular effort. Currently, work has equally reached an advanced stage on the Badagry MCC, which baring all odds, is slated for commissioning this year. It needs to be stressed that the project commenced about eight years ago.

In the housing sector, a similar trend is equally noticeable. A foremost part of the Sanwo-Olu administration’s strategy in the sector is to complete all inherited housing projects within the first year of the administration’s life span.

It is important to note that many of the projects had been neglected for over four years. Some had exceeded the project life span, thereby requiring extensive modifications and variations.

Suffice to say that, this plan was also to curtail the unwarranted wastage which would have resulted from continued abandonment of such housing projects.

In this category, there were 15 housing schemes comprising over 4000 home units at various locations in the state at different levels of completion. Some of the scheme sites are Igando, Igbogbo, Sangotedo, Ajara,

Egan-Igando, LASU main Campus, Iba, Sangotedo, Epe, to mention a few.

It needs to be stressed that a total of 1,576 of the inherited homes have been completed which include 120 units at Courtland Luxury Villa Igbokushu and 132 units in Lekki Apartments (through the Lagos State Development and Property Corporation), 492 units in Alhaji Lateef Jakande Estate in Igando, 360 units at LagosHoms Igbogbo llB, 252units at Lagos State Affordable Public Housing Scheme in Idale, Badagry; 132 units at Iponri Housing Scheme and 92 units at Lekki Phase 2 scheme in Eti- Osa Local Government. Many others are slated for commissioning before the end of the year.

Same strategy is being deployed in addressing the state’s unique public transportation challenge.

This inspired the construction and commissioning ofthe 31 networks of roads in Ojokoro Local Council Development Area (LCDA).

Recall that a contract for the construction of the roads, which adds up to a total of 20.216km in length, was awarded in 2017 in two phases, but construction work was stalled shortly after, leaving the roads in deplorable condition.

In 2019, a few weeks after coming on board, the Sanwo-Olu administration moved promptly to complete the roads in order to relieve residents of the agony brought about by perennial traffic gridlock in the area.

Same goes for the 3.68-ki-

lometer Oshodi-Abule-Egba BRT corridor, Lagos-Badagry Expressway, Pen Cinema Bridge, Agege and the Lagos Light Rail project among others. The Pen Cinema Bridge, especially, is slated for commissioning by the end of the year.

In the area of food security, the Imota Rice Mill, which has passed through the life span of two previous administrations, is also being given utmost attention. Governor Sanwo-Olu made a solemn pledge to complete the all-important project, located in the Ikorodu division of the state, in record time.

With the level of work done so far, the 22-hectare facility consisting a complete set of new mills, two warehouses, 16 silos with a storage capacity of 40 metric tons each, water treatment plant, effluent processing plant, staff quarters, administrative block, car park and firefighting facility amongst others, is due for commissioning.

There should be continuity in government in order to make appreciable progress. If succeeding governments had continued with the plans and programmes of their predecessors, Nigeria would have been a better place.

Governance achieves better and faster results when it is anchored on continuity. It is only then that it would be able to function as a system and not a personality driven project.

––Tayo Ogunbiyi, Deputy Director, Public Affairs, Ministry of Information & Strategy, Alausa, Lagos.

administration of abuse of the criminal justice system.

He also berated the federal government for acts of unconstitutionality which he says will erode the independence of the judiciary.

Talk of political chivying!

This is the same governor who would not allow an independent inquiry over the alleged killings by the army in his state. Talk of it, what is independent judiciary?

It is nothing but independent panel of judges. Yet, Wike did not allow an independent panel of professionals to hold a public hearing on the alleged extra-judicial killings by the army in his state. Yet, at every opportunity, he calls out the federal government for one misconduct or the other.

In my personal judgement, there is no sincerity of purpose in anything Wike does. When you project yourself as holy in order to paint the other person black, that is not the hallmark of sincere leadership. You are ready to talk ill of the other person, but are not ready to submit yourself for scrutiny. Leadership should be transparent.

The NBA inquiry stopped by Wike would have been an opportunity for him to clear his name and show leadership of purpose. But he behaved as if he has skeleton in his cupboard. The governor says that anyone who has suffered any injustice or brutalization in the hands of the army in Oyigbo should take advantage of the Rivers State panel of enquiry on police brutality. This is a panel whose legality is shaky. Can the state government sanction the police or army that is under the federal government? I am one of those who believe that nothing worthwhile will come out the panel.

As of today, Oyigbo is a captured territory. Normal life is yet to return to the place. Several shops and businesses are still closed.

People are afraid to open their businesses for fear of the military presence.

Livelihoods are being affected. It is agreed that criminals should not oper-

ate anywhere in Nigeria including Rivers State.

Rivers State government by its action simply fueled the crisis that followed the endSars protest. How? Immediately the crisis developed, the Rivers State government like any responsible government, imposed a 24 hours curfew in Oyigbo and other areas of the state.

At this point, the military took over and these places were relatively peaceful. But when the government relaxed the curfew in other areas and refused to relax the one imposed on Oyigbo, this gave the impression that the government was out to deal with the people living in this area. It was at this point that the military turned brutal and the cries of anguish started. So what should be the solution now? The government should lift the curfew imposed on Oyigbo and let normal life return to the place.

The military should be asked to leave the place since their stay is overdue.

Igbo lives also matter.

The governor should treat all peoples equally since we are equal by creation.

Every life matters. The governor does not believe in playing politics with human life and he should not be seen as doing that himself. Oyigbo is part of Rivers State.

The indigenes say that they are Igbos and this should not be a reason to maltreat them in Rivers State. Governor Wike says that he is not Igbo. But the whole of Rivers State is not Ikwerre.

After all, our government preaches unity in diversity. Igbos are not trouble shooters. IPOB is not Igbo. Their membership cut across ethnic groups.

Governor Wike has paid the bereaved families of the security agents that lost their lives in this unfortunate imbroglio N22 million compensation. This shows that the governor cares about lives. He should act properly as not to be seen as hating the Igbos who are part of his state.

––Chimezie Elemuo, Aba Road, Port Harcourt

Unicorn Prices Are Up

T

here has been so much fake news in the political world that it has led to fake news in the financial world. Bitcoin, the imaginary money, has returned to the papers and has shot up in value, dropped back, started to rise again, all within a few days.

What the world needs is real news and hopefully positive news. I know that many consider Bitcoin as

real money but it's too volatile for most, I want money that I can safely hide under my mattress and don't bother looking, there's none there.

Bitcoin however belongs under the bed with the monsters from our childhood. By the way, prices for Unicorns as pets are also on the rise and who knew that they are not on the protected species list.

––Dennis Fitzgerald, Melbourne, Australia

16

SUNDAY NOVEMBER 22, 2020 •T H I S D AY

THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

17

BUSINESS What HoldCo Model Means to GTBank, Shareholders

Editor: Kunle Aderinokun

08033204315, 08111813084 Email:kunle.aderinoku@thisdaylive.com

Following the approval-in-principle Guaranty Trust Bank secured recently from the Central Bank of Nigeria to run its operation using the holding company model, the bank appeared set to exploit the opportunities derivable from the arrangement and deliver better returns to its shareholders. Kunle Aderinokun reports

R

ecently, a number of banks approached the Central Bank of Nigeria (CBN), requesting approval to model their operations in line with the holding company (HoldCo) structure.

This has been the trend in the Nigerian banking sector, lately. Are the banks just following the dictate of the economy in pursuing the HoldCo model or is it a design to increase their shareholders’ value?

Actually, the HoldCo model is not alien to the Nigerian banking sector; it dates back to 2010, when the CBN under the leadership of the former Governor, Sanusi Lamido Sanusi, in its wisdom, initiated a reform to put the banking system on a sustainable path, following the world financial crisis. Before the advent of the HoldCo structure, the banking industry operates within the universal banking model, which guidelines, the apex bank repealed.

Under the HoldCo model, banks or banking groups are allowed to retain their non-core banking businesses, accommodating them and they evolve into a non-operating HoldCo structure. In the new structure, a non-operating HoldCo is expected to hold equity investment in banks and non-core banking businesses in a subsidiary arrangement.

Following introduction of the HoldCo model, the CBN gave banks the option of either bringing all their non-core banking businesses under a parent company in the new arrangement or divesting from such businesses and face their core banking businesses.

While some of the banks took the first option, a few others decided to sell off their non-core banking businesses. One of such banks that settled for the second option was GTBank. But recently, it decided to have a recourse to the model because it believes the competitive landscape is now ripe.

Following its application, the CBN gave the bank an approval-in-principle to commence the formal process of reorganising its bank into a HoldCo structure. It conveyed the cheery news to its shareholders in a notice to the Nigerian Stock Exchange, which was signed by its Company Secretary, Erhi Obebeduo.

The reorganisation is expected to be implemented by means of a scheme of arrangement between the bank and its shareholders pursuant to the companies and Allied Matters Act, adding that it has also obtained the ‘no-objection� from the Securities and Exchange Commission with respect to the proposed scheme.

Speaking recently on the HoldCo structure, GTBank’s Managing Director, Mr. Segun Agbaje, noted that the competitive landscape as it were for the non-core banking businesses didn’t warrant the bank retaining the subsidiaries and pushing it into adopting the HoldCo model. “We got our universal banking license in 2001. For many of you, if you are an SLS fan, or you’re not an SLS fan, you will remember that when the financial crisis happened, universal banking license was cancelled and the central bank decided

Agbaje

that you either stay as a bank, or you went into a holding company structure. “At the time, because the competitive landscape was very different from what it is today, we decided that we were going to focus on our banking business, and it was the right decision for us then.

Because we went from number seven in profit to number one; some years, we’ve been number two, but basically, we’ve been number one most of the years,� he explained.

Pointing out that while it was the right decision to take at that time, Agbaje, however, added that, the competitive landscape today has necessitated diversifying the banking earnings, hence, the decision to go the HoldCo way. “When you look at what is happening to banking, or you look at what I’ve been describing to you, and the people who are basically looking to take banking income, it is time to diversify our earnings. The only way you can legally

diversify your earnings in Nigeria today is going into a holding company structure, because as a pure bank, you cannot do more than banking.�

According to CBN, the HoldCo arrangement seeks to ring-fence depositors’ funds from risks inherent in non-core banking businesses.

The apex bank noted in the HoldCo guideline that, financial holding company shall be a source of financial strength to the subsidiaries. In serving as a source of financial strength to its subsidiaries, a financial holding company shall maintain financial flexibility and capital raising capabilities for supporting its subsidiaries.

It shall also stand ready to use available resources to augment capital funds of its subsidiaries in periods of financial stress or adversity. This GTBank now says it is prepared to leverage, having been adjudged the most profitable bank as well as the most capitalised bank in the country.

Poised to take advantage of opportuni-

ties inherent in the HoldCo arrangement, GTBank has therefore looked at some sectors that “create great synergies for it to create great opportunities.�

According to Agbaje, in new scheme of things, the bank proposes to diversify into payment service banking (PSB), asset management business and pension fund administration (PFA). This, he says, is without any distraction to its core banking business. It envisages to go greenfield with the PSB while seeking to acquire an asset management company and a PFA. Nevertheless, if acquiring these companies are expensive, the bank has the option of going Greenfield with them. And for now, is not looking the way of insurance business, even though it is not foreclosing the idea of operating the business in the future. “We looked at some sectors, which we think today create great synergies for us and create great opportunities.

The first one is payments. We love the payment landscape, you can see what is happening with FinTechs, we think we should compete with the FinTechs, we think we should grow the business, and that it is definitely a business for the future.

And so it’s a place we would like to play to diversify the earnings base of the bank. “We like asset management. The reason we like asset management is that it complements our business, we’ve grown a very good retail business today. Sometimes when people want a higher yield, then we lose that money to institutions like StanbicIBTC Asset Managers. But, we will create our own asset management company so that when the retail money looking for yield leaves us, it goes to someone that is in our ecosystem, and we consolidated P and L. A system where you can do payments, you can do asset management, once you come into your bank ecosystem is what we’re beginning to build. “We like PFA business, the PFA business is continuing to grow. And essentially what we’re trying to do is do as much as we can for the customer base that we have. And we think that this is a good place to start, and that this will diversify our earnings base and create value. The go to market plan for this is very simple. I’ve started to tell you about the first one, which is the diversifying to what we think of complementary businesses and services, payments, asset management, and PFA for today, there might be other businesses, the people like the one I always hear about is insurance. But I think that if we’re going to be dominant in the businesses that we’ve picked, it’s better we focus and we stop with those.

And then maybe one day down the road if we’re very successful with everything else, we can look at insurance. We’re also going to face our core banking business we’re never going to let that drop because Guaranty Trust Bank Nigeria continues to be the mother ship for us, and apart from our corporate business which is very strong, which will continue to hold, we will make sure that we continue to deepen our retail and SME business,� the chief executive explained.

Looking forward, GTBank’s expectation is to add significant values to shareholders of the holding company within the next five years.

THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

18

BUSINESS/ ECONOMY

:LOO ,QĂ DWLRQ (YHU /RVH 6WHDP" The economy may continue to grapple with the adverse effects of rising prices of goods and services for a little longer, limiting recovery efforts and prospects for improved well-being of Nigerians, writes James Emejo

I

nflation is an important macroeconomic parameter employed to gauge the health of an economy. While low inflation may also be unpleasant for an economy as this could impinge on investor confidence among others, an upward trajectory in the headline index erodes the value of money and financial assets, increases the cost of borrowing and distorts price stability among other consequences.

Nigerian’s inflationary pressures have continued unabated for over 20 consecutive months, defying the monetary and fiscal policy measures to curtail its rise.

According to the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), which measures inflation increased by 14.23 per cent (year on year) in October compared to 13.71 per cent in the preceding month.

Core inflation which excludes the prices of volatile agricultural produce stood at 11.14 per cent, up by 0.56 per cent when compared with 10.58 percent in the preceding month.

On a month-on-month basis, the headline index increased by 1.54 per cent or 0.06 per cent rate higher than the 1.48 per cent recorded in September as the composite food index also rose by 17.38 per cent from 16.66 per cent.

The NBS observed that the rise in food inflation was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, vegetable, alcoholic and food beverages and oils and fats.

On the other hand, core inflation was fueled by highest increases in prices of passenger transport by air, hospital and medical services, passenger transport by road, pharmaceutical products, motor cars, vehicle spare parts, maintenance and repair of personal transport equipment, hairdressing salons and personal grooming establishments, miscellaneous services relating to the dwelling, paramedical services and shoes and other footwear.

The report noted that increases were recorded in all the thresholds that yielded the headline index.

The NBS added that the urban inflation rate increased by 14.81 per cent (year-on-year) in October from 14.31 per cent in the preceding month while the rural index increased by 13.68 per cent from 13.14 per cent.

Stakeholders have continued to express concern over the real and potential threats which inflation posed for the economy.

In his personal statements during the recent Monetary Policy Committee (MPC) meeting of September, CBN Governor, Mr. Godwin Emefiele, noted that the “concurrence of rising inflation and economic contraction does not only pose a dilemma for policymaking, it forebodes the need to strengthen the productive base of the economy. “Again, current realities underscore the need for sustained support of the real sector through growth enhancing policies.�

According to him; “While the energy and exchange rate shocks are transient, the impact of the food shortages (which accounted for most of headline inflation) may persist if not tackled. With these adverse impulses, inflation inertia is

EmeďŹ ele

expected to continue in the near-term and begin an asymptotic decline by mid-2021.�

The CBN governor also pointed out that the uptick during the August was particularly due to energy price shocks, flood-induced food shortages, and exchange rate vagaries.

Also commenting on the threat of the headline index, a member of the MPC, Mr. Isa-Dotes Mahmoud, in his opinion said inflationary pressure is expected to worsen in the near term following the recent upward adjustments in the prices of premium motor spirit and electricity.

He added that exchange rate adjustments, persisting supply shocks arising from security challenges and structural problems in the domestic economy are likely to further aggravate inflationary pressures.

The apex bank, which has a primary mandate to stabilise prices- had set an inflation target of about six per cent to nine per cent in its current five-year roadmap.

Of particular concern is the monetary policy rate (MPR), which is which is the rate at which the apex bank lends to commercial banks- currently at 12.5 per cent, above inflation rate, a situation which economic analysts are not comfortable with.

Analysts however believed inflationary pressure could persist in the short term.

According to the MPC, with the recent removal of subsidy on fuel price, the increase in energy prices, and the adjustment of the exchange rate, inflationary pressure will no doubt persist unless MPC consider options that will deal with the pressure aggressively.

It, however, noted that, “to abate the pressure, it had no choice but to pursue an expansionary monetary policy using development finance policy tools, targeted at raising output and aggregate supply to moderate the rate of inflation.

Speaking with THISDAY, Professor of Capital Market and President, Capital Market Academics of Nigeria, Prof.

Uche Uwaleke, pointed out that the headline index is further influenced by the continuous border closure, the increase in Value Added Tax (VAT) and implementation of stamp duty as well as the high exchange rate especially in the parallel market.

He said, “The increase in the pump price of fuel also contributed because according to the NBS, a major cause of core inflation came from increase in transport cost.�

But he said inflation was unlikely to weaken in the near term.

He said: “The following factors will

combine to sustain the upward inflationary trend: lingering effect of VAT increase, border closure, insecurity, forex pressure, high transport costs from increase in pump price of fuel. Also, possible hike in electricity tariffs and the approaching festive period present another downside risk.�

Also, in a chat with THISDAY, Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, the continued border closures meant that the country had been unable to import items to subsidies the shortages domestically, leading to hike in food prices.

He said: “Indeed we have continued to see an uptick in inflation driven by high food prices coupled with general increases in input costs, increase in electricity and petroleum prices.

However, he expressed optimism that the current inflationary pressures may recede in the near term.

He said: “The increase was due to cost push pressures and the effect of other things such as flooding in parts of the country that produce food. “Also, December is typically a period of food inflation. We would expect that the inflation figures would level out as production improves and imports of food items to subsidies the shortfall is done. “The increase in PMS prices would also add to food costs but this will also level out. In reality, with low interest rates for the real sector, it will alleviate the pressures of inflation. We need MSMEs to get access to cheap funding that will drive growth and production.

Increased production and supply will eventually bring down food prices.�

Also, former Director General, Abuja Chamber of Commerce and Industry (ACCI), Dr. Chijioke Ekechukwu, also linked the rising inflation to the impact of the pandemic, insecurity as well as the recent civil unrest.

He said: “There are various factors affecting the prices of goods and services.

Firstly, the effect of COVID-19 lockdown is only having its ripple effect impact in the supply chain. “Food scarcity is gradually impacting supply negatively and affecting prices.

The seasonal stockpile of goods for the yuletide has already started and so, demand has increased without corresponding increase in supply.�

The former banker added: “The high exchange rate of naira to other currencies continues to be a bane in the prices of goods.

The End SARS protest also created both panic and scarcity of goods arising from the temporary lockdown and curfew imposed by various states.

Ekechukwu however asserted that, “In the short run, and with the current monetary policy measures, I do not see an end to the upward trajectory in inflation rate.�

He said: “The reason is that all the fundamentals responsible for the upward movement have not been addressed or have not been reversed. Popular among them is the high exchange rate of the Naira to other currencies and indeed scarcity of the foreign currencies. “The revenue base of Nigeria has not improved or is not likely to improve soon. Our debt burden continues to rise as the budget deficit rises. And many more.�

19

THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

BUSINESS/ MONEY

The Socio-economic Potentials of CBN’s Youth Investment Fund If well-implemented and devoid of political manipulation, the Nigeria Youth Investment Fund (N-YIF) should boost job creation and produce a ripple effect that will culminate in the economic well-being of Nigerian youths, writes James Emejo

I

t is said that an idle mind is the devil’s workshop. This is particularly true considering the growing population of unemployed youths and the associated increase in social unrests and criminality currently witnessed across Nigeria.

In August, the National Bureau of Statistics (NBS) stated that the number of unemployed Nigerians rose to 21.77 million in the second quarter of the year (Q2 2020) compared to 20.93 million in Q3 2018.

Consequently, this raised the country’s unemployment rate to 27.1 per cent in the review period compared to 23.1 per cent recorded in Q3 2018.

According to the Labour Force Statistics: Abridged Labour Force Survey Under COVID-19 report, the working age population is estimated at 112.39 million with an active labour force of 80.29 million while 32.10 million people are not currently in the labour force.

The statistical agency further pointed out that unemployment rate among young people (15-34 years) was 34.9 per cent, up from 29.7 per cent, while the rate of underemployment for the same age group rose to 28.2 per cent from 25.7 per cent in Q3, 2018.

No doubt, years of failure to diversify the economy from oil, corruption and policy somersaults by past administrations including questionable academic curriculum among others- had all played a role in the dismal unemployment statistics on the country.

Yet, young Nigerians with entrepreneurial ideas and concepts that could generate jobs are often left stranded because of lack of access to credit facilities-mainly for lack of immovable collateral and other requirements.

Even where credit is made available, the cost of funds and lack of infrastructure remained inhibiting variables for the growth of young entrepreneurs.

However, in a bid to reverse the trend and boost employment generation for Nigerian youths with business ideas, as well as redirect their energy into positive development objectives, the federal government through a collaborative initiative by the Central Bank of Nigeria (CBN) and the Federal Ministry of Youth and Sports Development (FMYSD), developed the Nigerian Youth Employment Action Plan as a built-in strategy to respond effectively to the youth employment challenge in the country.

The major objectives of the plan are to address fragmentation of youth initiatives that prevent assessment of impact and to provide the youth with investment inputs required to build successful businesses that can become sustainable employers of labour and contributors to national development.

The initiative targets young people between the ages of 18-35 years and details the needed actions required to support business establishment, expansion and consequent employment creation for youth in critical economic and social sectors.

Also, to realise its objectives, the Federal Executive Council (FEC) had on July 22, approved the sum of N75 billion for the establishment of the Nigeria Youth Investment Fund for the period of 2020 – 2023 dedicated to investing in the innovative ideas, skills and talents of Nigerian youths, and to institutionally provide youth with a special window for accessing much needed funds, finances, business management skills and other inputs critical for sustainable enterprise development.

Only last month, the apex bank released the implementation guidelines for N-YIF,

CBN Headquarters, Abuja

with a takeoff seed capital of N12.5 billion and appointed the NIRSAL Microfinance Bank (NMFB) as the eligible participating financial institution for the scheme.

The CBN explained that the aim of the intervention was to financially empower Nigerian youths to generate at least 500,000 jobs between 2020 and 2023- and will seek to improve access to finance for youth and youth-owned enterprises for national development; generate much-needed employment opportunities to curb youth restiveness and boost the managerial capacity of the youth and develop their potentials to become the future large corporate organisations.

The guidelines contained in the “Framework for the Operation of the NIRSAL Microfinance Bank Window of the Nigeria Youth Investment Fund (N-YIF)� explained that individual (unregistered business) shall be determined based on activity/nature of project subject to the maximum of N250,000 credit.

On the other hand, registered businesses (Business name, Limited Liability, Cooperative, Commodity Association shall be determined by activity/nature of project subject to the maximum of N3.0 million (including working capital).

The apex bank, however, added that immovable assets acquired with the loan must be registered with the National Collateral Registry (NCR).

Essentially, tenor for loans shall be maximum of five years depending on the nature of the business and the assets acquired adding that moratorium of up to one year may be allowed depending on the nature of the business and the assets acquired while interest rate under the intervention shall be at not more than 5 per cent per annum

(all inclusive).

In a bid to further aid the recovery of the credit facilities, the apex financial regulatory body also said the NMFB will leverage on the General Standing Instruction (GSI) as collateral while corporate guarantees will be acceptable where applicable.

The framework pointed out that upon satisfactory appraisal of application, NMFB shall apply for release of funds in respect of approved individuals/enterprises from the NYIF and CBN, adding that NMFB shall conduct credit checks on applicants and those with unsatisfactory credit reports will be rejected.

However, while analysts commended the initiative to unlock the potentials of youths, they cautioned that the lofty objectives of the programme could be compromised if allowed to be hijacked by politicians to satisfy their selfish interests.

Analysts who spoke to THISDAY in separate interviews, further warned that unless effective recovery mechanisms are fully implemented, default on loan repayment plan could increased the level of non performing loans in the banking industry.

Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelling, described the initiative as a welcome idea.

He said:�At least it will provide some access to cheap finance for youths, whom were probably unable to get funding from banks and other institutions to fund their business ideas. Hopefully, it will lead to a number of small businesses springing up to help spur growth in the country. “However, like with other intervention funds, those that critically need the funds will most likely not be able to access it for a

number of reasons i.e. lack of knowledge of the opportunity, lack of confidence to apply, inability to meet conditions etc. “Also, there is a likelihood that there will be high non-performing loans (NPLs) in the future as a result of huge number of defaulters. “Even though the funds are supposed to be to start businesses, a number of youths may likely consume these funds to meet lifestyle expenses.�

On his part, former Director General, Abuja Chamber of Commerce and Industry (ACCI), Dr. Chijioke Ekechukwu, while hailing the intervention, called for safeguards to limit abuse, particularly by politicians in the administration of credit to beneficiary.

He said:�The N75 billion Youth Investment Fund is a welcome development for the Youth of of our country. “The question is, what age bracket do we call youth?

How do you determine the age of a business owner when he can swear an affidavit with less than N1,000 and reduce or increase his age for the purpose of accessing the loan? “Are there target sectors targeted for the loan or is it for all comers? How do you forestall the hijack of this facility by top government officials and members of the National Assembly? How will the funds be allocated to ensure geographical spread of the country benefit from it?� “These are relevant questions that need answers before we can ascertain how successful and impactful it will be to our youth and economy,� he added.

Analysts also believed the scheme has the potential to stem the increasing rate of social unrest and other forms of despicable activities perpetrated by jobless youths going forward.

20

THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

BUSINESS/AGRIC

Reducing Poverty through Agriculture An innitiative by an agric firm, known as Home Garden will enhance food production and food security and boost employment in Nigeria, writes Eromosele Abiodun

W

ith the unemployment rate in Nigeria getting out of control, the federal government is focusing attention on agriculture to reverse the trend and also ensure food security. Agriculture was neglected in the past despite its ability to contribute to Nigeria’s gross domestic products (GDP). As a result of lack of investment in agriculture and insecurity in most parts of the north, many families have had to rely on aid from donors to survive.

Recently, a report by the World Poverty Clock showed that Nigeria has overtaken India as the country with the most extreme poor people in the world. According to the report, 50 per cent of Nigerians are now living in extreme poverty which means living on less than $1.25 per day.

At this rate, experts believe the 2030 target for achieving the Sustainable Development Goals (SDG) set by the United Nations General Assembly and adopted by Nigeria will remain unachieved.

This, they warn, has an implication for all of us as it is hard to feel safe in the midst of overwhelming poverty. “Chances are that, if the level of poverty in Nigeria continues to rise, it is bound to implode one day,� submits an expert, who do not want his name in print.

Speaking recently on the need for conserted effort to achieve the UN goals, the UN Secretary General, Ban Ki-Moon, said, “We do not have a plan B because there is no planet B!�. Basically we must find a way to solve the problems plaguing the world. One of such problem is Goal 1 of the SDGs which is to end poverty in all its forms and another is Goal No. 2 Zero Hunger. “ Finding Solution Meanwhile, experts believe multiple strategies are required to address the issue of food production and food security.

The choice of feasible approaches, they said, hinges on the existing social, political, and economic conditions and resources available to design and implement the intervention.

Taking the lead in this regard is a company who has devoted considerable effort to devise strategies to drive food production and food security.

Known as SENCE Agric, the organisation has developed a novel idea that will ensure that every family in Nigeria participates in the agriculture revolution by owing a garden. “We are particularly passionate about these 2 goals as it resonates deeply with us and we see it in the people we meet on a regular basis. Our problem solving attitude was what gave birth to the ‘Home Garden’ idea. We believe that one way to positively impact the goals sustainably is through the development of home gardens. With a home garden, families can grow their own food providing them with nutritious meals and reducing the amounts spent on food and where possible, sell the excess to generate additional income.

With time, home gardeners can venture into proper farming, if they wish, using the skills they have developed over the years, thereby creating employment for themselves. “Home gardens are also a time-tested local strategy that is widely adopted and practiced in various circumstances by local communities with limited resources

One of SENCE’s representatives teaching members of the community on how to grow vegetables

and institutional support, “the company said in a statement.

It added that the SENCE Agric home garden initiative seeks to: “Make it ‘cool’ to own a home garden, so that more people will embrace the idea, encourage people and communities to start a home garden and teach farming techniques that can enable them maximise space and grow food in what little space they have. “We provide training and support for persons who already own a home garden, assist successful home gardeners with access to markets, organise community outreach programmes, where the opportunities and benefits will be discussed, provide technical support for people who wish to embrace the concept of a home garden and ensure sustainability through training on various aspects of running a home garden, including financial management and Food Safety.�

Home Garden Journey “To begin our home garden journey, we started by organising a home garden competition which is about promoting the habit of “Growing What You Eat� .

The competition is meant to showcase the people who through their home gardens are feeding themselves or the community. We emphasised that, it isn’t

about how big or small their garden is but what they have been able to do with the space they have. The winners get cash and other consolation prizes “We’ve had the competition three times, the first in April 2019 and the fourth edition will run by December 2020.

The competition is bi-annual, but can increase when we get more sponsors to donate cash, inputs, tools,etc. From the competitions so far, we have gotten several requests and enquiries about home garden. After much deliberations and discussions,we came up with the idea of creating a home garden club where people of different status irrespective of social class or education can discuss, share ideas and knowledge. The SENCE Agric home garden kicked off in July 2020,� it explained.

They added that the SENCE Agric Garden club aim to; promote eating healthy on a budget, saving money, the easy way and help people know what is in the food that they eat. “We also collaborating with other enthusiasts to improve their skills, learning about plants and growing techniques and sharing resources. Everyone, who had interest or questions as regards home gardening formed members of the club. The club through its activities will promote home gardens provide tips and support to members, promote

sustainable gardening practices. “Share healthy recipes, as members you have access to the following benefits, access to garden inputs, garden set-up at discounted rates, once a year get –togethers, competitions, access to markets for excess products, garden support and advisory services and home garden events,� the company said.

They added that following the successful set-up of the home garden club, an outreach programme was initiated and a pioneer community was chosen which was the ILAJE FISH SELLER COMMUNITY in Bariga area of Lagos state.

They added, “The community was chosen based on proximity, their lack of land space for growing and the fact that there is high poverty rate there,which might account to lack of proper or balanced nutrition. “The outreach took place on the 17th of October,2020. The community was thought on how to grow in plastics bowls and buckets. We made them understand the relevance of growing their own food and what they stand to gain by doing so. Gifts were presented to the children. They expressed their joy and were thankful we chose their community to kick start the project. They asked us to visit more often,which we promised to.�

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THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

BUSINESS INTERVIEW AHMED MUHAMMAD States with Autonomous Revenue Services Generate More IGR

Ahmed Yakubu Muhammad is the Executive Chairman of Nasarawa State Internal Revenue Service (NSIRS). In this interview with Igbawase Ukumba, he speaks on efforts by the NSIRS to have a harmonised revenue law for the state, and other matters. Excerpts:

R

ecently, Nasarawa State was ranked 9th among the 12 ICT states in the country. How was that achieved?

Just like you asked how have we been able to achieve thisfeat,wehaveputinsome many things in place and the most important thing first is the process automation. We have automated almost all our processes whereby we decided to stop cash payments. We don’t allow our staff to collect cash. We use payment systems through the central billing system. These payment systems are several, you can do bank payment, you can do online payment, you can do web payment through POS machines and other electronic payment. That is one!

Secondly, what we also did was that we sought approval from His Excellency to stop the usage of cash receipts. That is one other way whereby people can do some funny things and we got approval from his Excellency and we said, we are going to start that with the board of internal revenue before we can go to other MDAs. So what we did was to withdraw those manual receipts and since we have a platform where we can make payments through online medium or you can go to the bank and make payments and print an online receipt so there was no need for us to use receipt because in manual receipt, someone can just write any figure and collect anything they want.

So those are the areas whereby Government is losing quite huge amount of revenue. So we said we will do these things and block those leakages. These are some of the things we did and quite alright we are seeing improvement.

Some of your targets for revenue may not be used to the electronic payment of your board, therefore how do you engage people who are not ICT compliant?

That is why we say there is a bank payment. If they cannot use any of the payments, the banks are already there. They generate invoice even in the banks. So if the go to the bank as an illiterate and they say they want to make payments for the board of internal revenue, the bank will generate invoice for you and if they generate this invoice, we monitor it online. Any payment you make on the CVS, I can open it on the platform. So any payment made anywhere in the world, we can monitor that payment here. It will tell you that this particular person made this payment at this bank with this reference number whether it’s bank payment or through the POS or any means of payment.

Last year, you projected to generate N1 billion monthly. Have you reached that target?

We have reached that target of N1 billion and we are now targeting N3 billion. We have set another target of N3 billion and it’s achievable because Nasarawa has limitless opportunities and so, if we harness all our resources it is achievable and even above that. Just like I told you, the magic is automate your processes, block leakages and you will see improvement.

There are allegations that some states are not contributing signiďŹ cantly to the value added tax (VAT) of the country. What is the position of Nasarawa State on these allegations?

VAT is the exclusivity of the Federal Inland Revenue Service. It collects VAT on behalf of the federal government. VAT is generated in all the 36 states, including the FCT. So every transaction that is done, VAT is deducted 7.5 per cent now.

literacy. So you have to be tactical and diplomatic.

But we have made a lot of discoveries in that area.

We have discovered a lot of fake number plates, fake vehicles. In fact we had to send police from Lafia up to Jigawa because we found out someone was producing number plate from Jigawa for Nasarawa State. So we had to go there and he was apprehended in Jigawa and brought here.

The case is ongoing. So these are some of the things we saw. We made a lot of discoveries.

We have a platform here on why it is important for people to register because once you register and we capture the chassis number, once your details are captured, your name, phone number and all your details in case, if stolen and you report to police and police inform us, we will just red flag that this vehicle with the chassis number is stolen.

And because our platform is linked with Road Safety and other states in the federation, if that vehicle is taken to go and be registered and they put that chassis number, it will red flag there and it will inform them that it was stolen. So you can see the importance of this. We have apprehended so many stolen vehicles here. People don’t want to register their vehicles and this is something you register once. Some are adamant to do, but it is important because it is for the safety of your property.

If you look at the 12 top IGR generation states, Nasarawa is 9th on the list. How are you looking at Nasarawa State in the next ďŹ ve years regarding the ranking?

You see, there are two things. That ranking which you talked about is for improvement in revenue generation from the preceding year in 2019, which there is a rise of 43.5 per cent or so. Now what we are trying to concentrate is the volume of revenue we generate. From the next five years from what we have put in place, Nasarawa will be among the first five states.

That I promise you.

Yakubu Muhammad

So there is no state that is not generating VAT. As long as you do a transaction even if you go to a hotel and pay your hotel bills, you pay VAT. So anybody saying that some states don’t pay is not true, maybe some states are higher than others.

Then the VAT is forwarded into the federation account whereby it is shared among the three triers of government which is the federal, state and local government.

What are the challenges of the board?

Well, we have a lot of challenges. First of all when it comes to the issue of payment of taxes, peopledon’tliketocomplyandyouknowthekind of environment we are and the people we have here. Secondly is the challenge of personnel. We don’t have enough personnel to cover the state.

You can see a body like this with only about 145 staff. So we have to do with auxiliary or casual staff to complement what we have. Take about a 100 casual staff, even if you put over 200 of them in Karu alone, they can’t cover it. So that is one other area we are having issues.

Then, lack of autonomy. Most of the states in the federation that you see doing well are autonomous. It is one of the conditions they give to states because if you are collecting revenue, you are supposed to have what is called cost of collection to run your office because in terms of revenue you don’t sit in the office, you have to go out.

It is a field work and if you don’t go out, nobody will want to pay tax. If you sit in the office and expect people to come and pay, they won’t come, but if you have autonomy, it involves a lot of things. You say you are autonomous whatever you generate, 10 per cent goes back to you and it encourages you to generate more. It is from what you generate that becomes your running cost. The level whereby you only wait at the end of the month to get overhead, you are limited to certain thing. Even at that, it is what we are limited to that we are able to achieve what we have been doing. There are states that are even autonomous.

Let’s take for instance, the North-central, it is only Nasarawa State that is not autonomous.

So you can see that we would have gone far.

Apartfromthat,youcanseethekindofbuilding we are in. Since it was built, nothing has been done about infrastructure, mobility and so on.

Even with the COVID-19, we have already surpassed the year 2020 target of N1 billion. There is a target from the 2020 that was set for us and we have surpassed that.

Recently your board embarked on licensing vehicles on the roads of the state. Was it able to achieve its target?

License is road taxes. This is one area that is very difficult to run. These are the group of people such as Keke, Okada and so on. And the level of compliance, it is very low due to their level of

Do you see any other IGR Source or sources that are untapped in the state?

Yes, absolutely! Apart from the board of internal revenue, there are 41 other agencies that generate revenue in Nasarawa State. We have MDAs that do. What we have realised and we are trying to curtail is that every MDA has a revenue head, which the state generates revenue and sometimes, you find out that they just pick out of five heads, which they are supposed to be generating revenue, they only pick two and leave three. So, you can see that there is also a source of revenue loss in the state. So what we have done now is to ensure that revenues are being completely collected from all these MDAs. Secondly, we also realised that some MDAs still have some obsolete rates and fees which we inherited from Plateau State. They are still using now. We have done a draft copy of the harmonised law. We have reviewed the rates. It is in the Ministry of Justice and they are reviewing it. We want to have a harmonised Nasarawa State revenue law and from there, it will go back to the State House of Assembly to be passed into law. So you can see it’s an improvement in revenue generation.

Then, one other thing is the impediment of the law. Some of the revenue heads we have, we don’t have laws backing us to collect those revenue, so it is an impediment. That is why we decided to get inputs in all those MDAs that are collecting revenue. If you have any of these revenue heads that you don’t have laws backing you to collect, bring it to us, we will input it in the harmonised law, so that once the assembly passes it into law, we will be able to improve on our revenue collection.

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THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

THE EXECUTIVE UCHE ORJI Nigerian Economy Remains Attractive for Investors 2020 is, no doubt, a tough year for Nigeria and most economies globally. However, amidst the turmoil and downturns, there are rays of hope. Managing Director/Chief Executive Officer, Nigeria Sovereign Investment Authority(NSIA),Mr. Uche Orji, confirms this in an interview with Kunle Aderinokun and Obinna Chima as he gives the recipe for mitigating effects of the looming economic recession in the country. Orji, who gives the details of operations of NSIA, the managers of the Nigeria’s Sovereign Wealth Fund, speaks extensively on how important and beneficial its programmes have been to the economy

T

he NSIA’s Future Generations Fund is targeted at the next generations of Nigerians. What is the NSIA doing to prepare the next generation to beneďŹ t from the fund?

Before I answer the question, let me provide you a background. The NSIA was set up with a three-fold mandate: provide a savings base for the Nigerian people; provide stabilisation support during times of economic stress; and invest to enhance Nigeria’s infrastructure.

It fulfills this mandate through the Stabilisation Fund,theFutureGenerationsFund,andtheNigeria Infrastructure Fund; these funds originally held the assets of NSIAin the following ratio: 20:40:40, respectively. These allocations are ring-fenced; meaning we cannot move the funds around once made.

Recently, we have reordered the allocation with future allocations weighted more to infrastructure with the ratio changed to 20:30:50. The NSIAAct specifies that each of the three funds must hold a minimum of 20per cent of the capital, and the rest is at the discretion of the board.

The NSIA started with an initial fund allocation of US$1billion, and from the start we recognised the need to balance the needs of the current generation (infrastructure) and the need of the future generations (savings) so we equally weighted the fund allocations 40:40, leaving the minimum 20% to stabilisation fund. However, as the daunting nature of the infrastructure needs became obvious to us, we tweaked the allocation for future contributions to increase the allocation to infrastructure.

The future generations fund invests in a diversified pool of assets ranging from private equity, globalpublicequity,hedgefundsandotheralternatives. These are mostly internationally invested, and we aim to earn stable steady returns. This fund has also invested in almost every private equity and venture capital fund in Nigeria as we believe that developing this asset class is essential for the future of capital formation in Nigeria, as well as earning good returns for the NSIA. The investment horizon is 10years and the minimum expected return is US Inflation (CPI)+5 per cent.

The future generations fund is allocated 25% in private equity; 25% in public equities, 25% in hedge funds and 25% in other diversifiers. Within private equity, NSIAis invested in over 30 different private equity funds in Europe, USA, otherAfrican countries, and Nigeria. Recently, this allocation also includes venture capital with investments made in Nigeria VC funds and USA VC funds.

Withinhedgefunds,NSIAalsoinvestsinsecondary interests in private equity firms. NSIAis invested in public equity markets globally with 2/3 in emerging market funds and 1/3 in developed market funds. In hedge funds, the strategies we invested include global macro funds, long-short equity funds, global credit funds etc. and finally within other diversifiers, we invest in a lot of interesting funds that create other non-correlated returns such as healthcare royalty companies, aircraft leasing funds, commodity funds and real asset funds.

The infrastructure fund invests in the following areas of focus: agriculture, healthcare, gas industrialisation, power, toll roads and financial markets infrastructure. In addition, it has also invested

Orji

in education (mainly primary education for the underprivileged through its ownership of 10 per cent of Bridge Academies Nigeria, a technologydriven school system – a prime example of the adoption of this system is the Edo best primary school system which adopted this strategy).

The investment horizon is 20 years, and it aims to earning a minimum of US CPI +6 per cent. The investments in financial markets infrastructure includeInfrastructureCreditGuaranteeCompany Limited (InfraCredit), which provides credit guarantee for infrastructure bonds; Nigeria Mortgage Refinance Corporation (NMRC); Development Bank of Nigeria (DBN); NG Clearing, a derivative clearing house sponsored by Nigeria Stock Exchange. We believe these institutions are essential toarobustfinancialmarket. Inhealthcare,theNSIA developed PPP projects with Lagos University Teaching Hospital Oncology Centre;Aminu Kano Teaching Hospital in Radiology and Diagnostics as well as Federal Medical Centre Umuahia in Radiology and Diagnostics.

Within the Infrastructure Fund, it also manages third-party funds such as the Presidential Infrastructure Fund which is funding via a PPP, the Lagos-Ibadan expressway, Second Niger bridge and Abuja-Kano road; and co-investment funds

such as its 50:50 Agriculture co-investment fund, with a Dutch/SouthAfrican specialist agriculture investor partner, UFF/Old Mutual. NSIA also manages the Presidential Fertiliser Initiative (PFI) which revived the domestic fertilizer blending industry. These third-party funds are not included in NSIA balance sheet, but held for the account of the third party such as the FGN. The Stabilisation Fund invests in investment grade fixed income such as Treasury Bills and investment grade bonds. It is short term in nature and can be drawn at short notice to meet the demand of the government. For example, recently in May 2020, we received a notification from the Minister of Finance (following due approval process as stipulated by NSIAAct) to provide US$150million from this fund for budget support; it was made available within two week, (although it took a further few months before the government actually drew down the cash).

This is the only fund that the government can withdraw at short notice. The other funds are not accessible except through dividend payments.

So here is how are we preparing the future generation of Nigerians. First by preserving the funds and earning a return. The funds have been profitable for seven straight years. We aim to keep

it that way and use the power of compounding to grow the fund.

Secondly, we encourage the government to contribute more into the fund. This has not been as successful we had hoped and as the country would have needed. The NSIAreceived US$1billion in 2013, US$250million in 2016, US$250million in 2017 and US$250million in 2020.

Whilst US$150million was also withdrawn in 2020. Compared for example to Norway, which started with ~US$10billion in the early 1990s.

Today through aggressive contributions they are now over US$1.1trilion. If I recall clearly, for most of 2012/2013, the country was contributing US$1billion weekly into the fund.

Thirdly,bymakinginvestmentsthatareessential forthefuturegeneration:agricultureandhealthcare are essential - we must eat and be healthy. Toll roads must be financed differently through PPPs. The current budgetary process is structurally unfit for purpose. In the budget, rarely will any project receive more than 5% of its budgeted cost in a year. This means all things being equal – meaning no inflation, no deterioration, no standstill costs, and interests- it will take 20 years to finish any project. That is just wrong! So, we are taking some major projects in a PPP structure with an aim of raising the necessary capital and finishing them.

Our target for Second Niger bridge and Lagos Ibadan expressway is 2022. Abuja-Kano road will see some sections completed in 2022 and the rest we are targeting 2023. Note that NSIA did not award these contracts, it was done by FEC prior to NSIA’s involvement. NSIA’s role is to finance and operationalise through tolling and other revenue earning structures and where possible, conduct value engineering.

Fourthly, by attracting co-investment fundssuch as with the Agric Fund, we have set up with UFF - a US$200million Agric Fund with initial commitment of US$25million from the NSIA and the rest from our partners with our anchor partner, UFF committing US$25million as well.

We also worked with KfW and Ministry of Agric to sponsor the Fund for Agriculture Finance in Nigeria (FAFIN) in 2013, this is managed by Sahel Capital and makes private equity investments in agriculture across Nigeria. We are developing other similar funds for areas such as “Innovation Fund� and an “Industrialisation Fund�, which if approvedbytheboardareaimedforearlynextyear.

Fifthly, by bringing good governance to our enterprise and aiming to be an example of how government entities can be managed to world class standards.At least, that is what our goals are, and we strive daily to achieve that. Our healthcare PPP projects are an example. I am very pleased with our investment in BridgeAcademies which is making first class academic curriculum accessible to children of the under privileged. That is what has underpinned school systems such as Edo best and making progress in other states.

How is NSIA investing in programmes to engage the youth, considering issues around the recent protests and the country’s high youth unemployment?

There are a number of investments that have created jobs and we are commencing a monitoring and evaluation to effectively track the impact, but let me mention a few: Some have created low-end jobs and some have created high-end jobs (if you

THISDAY, THE SUNDAY NEWSPAPER Ëž ÍşÍşËœ 2020

23

NSIA is Focused on Channeling Pension Funds, Others into Markets will please permit me to use this distinction). Let me start with the “low-end�

The Presidential fertiliser initiative is reckoned by theFertiliserProducersandSuppliersAssociationas having created about 50,000 jobs. This programme was designed to domesticate fertiliser production, reduce prices, and create jobs. When we started in 2017, only five blending plants were operating with less than 500,000MT capacity. Today, we have 32 blending plants with more than 4 million MT capacity. This past year, we have blended and delivered 12 million bags of fertilizer. The price of a bag of NPK fertiliser at the inception of the programme was N11,000 - N13,000 a bag and the programmebroughtpricesdowntoN5,000perbag in its first year. How did we do it? By implementing a contract manufacturing process that we designed along with the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN). The NSIA imported the key raw materials and negotiated discounted prices for the local raw materials and the blenders produced for the PFI and sold at the recommended price. The programme has run a four-year course and is now being restructured with the NSIA support being sharply reduced so that the revived blenders can begin to stand on their own.

The UFF/Old Mutual-NSIA Agric JV has invested in a farm in Nasarawa State which is a major demonstration maize/soya farm and feed mill processing farm rising from ~1300HA to >3000HA. The maize yields at this farm are currently 7tonnes/HA compared to 2tonnes/ HA for the average Nigerian farm. We will be at 13tonnes/HA after our irrigation equipment are installed this year end. UFF and NSIA are commencing a similar farm in Gurara in January 2021. We have six other projects in our pipeline in other parts of Nigeria.

The programmes create jobs across the agriculture value chain. NSIAinvested in Babban Gona, a social enterprise part-owned by the networks of smallholder farmers it serves through a model created specifically to attract youth. The members receive development and training, credit, agricultural inputs, marketing support, and other key services. The Babban Gona agriculture franchise overcomesakeyunderlyingstructuralproblemthat keeps Nigerian smallholder farmers poor. Utilising a sustainable private sector model, it provides cost effective end-to-end services to a network of franchise farmer groups. The programme has helped thousands of farmers.

NSIA worked with the Ministry of Finance to set up Family Homes Funds which develops low cost housing. NSIA is a catalytic investor, but now in the process of divesting its investment as FHF is now fully established and running on its own. It aims to develop more than 200,000 units of housing including student housing which is going to be of keen interest to Nigerian youth.

The various housing projects to be undertaken is and will continue to provide jobs for thousands of Nigerian youths.

On the higher end: the healthcare investments, particularly in cancer treatment, radiology/diagnostics and soon in pharmaceutical manufacturing have created and will continue to create high-end jobs. The oncology equipment we have installed there are some of the first in Africa and we hope to improve the tools available to Nigerian doctors. By the way, I believe medicine is an area of competitive advantage for Nigeria, we just need to invest and provide equipment to aid the effort of our highly trained doctors.

We have made investments in venture capital funds and almost every private equity fund in Nigeria who have gone to create companies that have created jobs.

There are many other areas in the works that will see us investing in innovative ideas. We are exploring ways to address Fintech, digital infrastructure, social infrastructure, and biotech. These are sectors that will open new opportunities, which will prove attractive to the younger generation.

How is NSIA prepared for a period of Nigeria without oil revenue? Is there any plan to grow the fund despite the thinning margins from oil revenue for the future?

The NSIAis working on several options to grow the fund. We cannot predict when oil revenue will cease to be impactful, but there are a few things we are working on to grow the fund: NSIA is working with the FGN and National Assembly to increase the contribution of funds through other means outside the excess crude account into the NSIA. Co-investment funds: The NSIA is creating co-investment funds with other investors as a way to increase the impact of its investments and also leverage specialist investment skillset.

Asset management for government. An option that has been used successfully by other funds

What is NSIA doing to address the issue of affordability at those healthcare institutions where it had invested?

NSIAcancer treatment center is much cheaper than the alternatives. Our rates for radio and chemotherapy for 30 days treatment is roughly one fifth of the cost of the same treatment in Ghana.

Certainly, much more expensive in Europe, Dubai, and India; because you must add the additional travel cost and expenses associated with traveling with a care giver. We believe our equipment is superior to Ghana and our centre is more modern. We have also appealed to foundations and endowments to help create a support system to help Nigerians offset the cost of care.

Is the NSIA not considering going into a partnership with NHIS to broaden the net for the uncovered?

We have had discussions with NHIS in the past and at this stage still studying the health insurance sector. Presently, I cannot see a possible role for NSIA in this sector just yet.

Orji

such as Singapore is a transfer of government assets to their sovereign wealth funds. We are exploring this option to grow the fund.

Gas Industrialisation: whilst clean energy may reduce the demand for oil, I personally believe that gas industrialisation will remain a viable industry for a long time. Gas to Urea fertiliser, gas to methanol, petrochemicals, ammonia etc. will continue to grow. I believe demand for compressed natural gas and LNG is unlikely to fall as quickly or as sharply as oil is predicted to fall and will remain a growth sector. Hence, why it is an area of investment focus for the NSIA.

How do you think the outcome of the US Election will affect NSIA’s return prospects for 2020, especially in the medium term?

I do not think there will be a material impact frankly; however, on balance, I am positive. The NSIAportfolio is diversified and the world is more multifacetednow.WhilsttheUSAremainsthemost powerful driver of global financial markets, other countries are proving to carve their own direction lately, for example China. On the subject of the USA elections there are three factors to pay attention to: one, tax policies of the incoming government; two, the role/stance of the Federal Reserve- hawkish or dovish, and three, foreign policy especially their commitment to co-investing in Africa.

Other policies to pay attention to include: Biden’s clean energy policy may prove a double-edge sword - it may cause short-term production slowdown in the USA as they stop drilling in reserved areas and possibly stop fracking, and on the other hand may accelerate adoption of electric cars, hence depressing demand. We shall find out soon enough.

There is a fear that President-elect Joe Biden’s tax policies may be negative for capital and lead to a decline in the value of financial market assets.

I disagree. Under former President Obama, the markets were strong, and Biden’s tax policies is unlikely to be different from the position under Obama.

The transformation NSIA is promoting through investment in Healthcare Centres of Excellence is encouraging. However, what are the plans for national coverage of those programmes?

As you would note the healthcare facilities so far built are sited strategically across the country with one each in the North, East and West. So, we had designed the location strategy from the onset to afford to accessibility to people wherever they may be within Nigeria. In terms of further expansion, there are 14 projects in the NSIA pipeline, and we plan to execute about 3 or 4 next year in other parts of Nigeria. We are looking to build a center for advanced medicine in partnership with another agency of government, and preliminary work has commenced on this already. We are also looking at pharmaceuticals manufacturing.

One of the major challenges of COVID -19 was the depletion of our pharma supplies as India stopped selling to other countries. COVID-19 showed us the limitations of trading as solution to all problems.

The need to build manufacturing and pharmaceuticals is critical in my view.

We have had three projects as proof of concept, and we have learnt from our mistakes. We will now aggressively drive implementation in other places. Oncology is high on our list. We will be working in partnership with teaching hospitals to build more of such centres as we built at LUTH.

What is the state of the second Niger Bridge and has COVID-19 in anyway affected your anticipated delivery timeline?

It’s ongoing. Yes, COVID-19 affected the pace, but not by more than a few months. We are hoping to complete the phase of the bridge that the NSIAis handling in 2022. Today, you will see the decking is almost completed on one side of the bridge and the second decking will commence soon. The River Niger is a strange river where water level rises to a height of up to 12 meters between dry season and peak of rainy season, with a lot of flooding in the nearby areas. So, it is a tricky piece of engineering.

InfraCredit, DBN, NMRC, FHFL are all interested sub-segments and necessary component for a well-rounded ďŹ nancial market. What is NSIA planning to address next?

There are couple of other areas that are in the horizon. The most immediate area of focus is the Commodities Exchange for which we expressed interest as far back as 2016, but have been unable to make headway with that investment so we are exploring other ways to participate, including setting up a Greenfield exchange. We are under NDA on the other areas as well, so we’ll let you know as soon as we are able to disclose, because we are working with third parties here.

When will the Infraco, which was announced by the CBN Governor and approved by the federal government take off?

The Central Bank of Nigeria is leading this effort, whilst NSIA and AFC are investors and co-sponsors. I will allow the CBN to guide the market on the timing.

As we move closer to 2021, what should Nigerians expect from the NSIA next year?

Hopefully, 2021 will not be as disrupted as 2020, we expect to deliver 3-4 projects in healthcare, capital raise efforts for the toll roads (Second Niger bridge,Abuja Kano road and Lagos-Ibadan expressway) with significant progress in construction and full corporatisation of the PPP structure.

Final Investment decision on our US$1.2billion Ammonia plant in partnership with OCP of Morocco and possible commencement of work; two more projects in Agriculture and active fund raise for the co-investment fund; conclusion of our 10MW power plant in Kano and an effort to raise co-investment funds to roll out these projects across other parts of Nigeria.

What’s the total assets under NSIA’s management?

Our reporting currency by our Act is Naira, so I will share as is reported in the accounts in Naira.

In 2019, it was N649.84billion (using then exchange rate of N325/US$). So far in 2020 as atAugust, we have earned about N45billion, plus a further over N60billion in devaluation gain as exchange rate (this is unaudited) moved to N380/ US$ for NSIAbooks. I will wait until year end to give you a firm set of numbers.

What’s NSIA’s current operational capital?

GovernmentcontributionisaboutUS$1.6billion.

NSIAhas made cumulatively over US$350million in earnings.

Have the 36 states of federation been cooperative with NSIA and what’s their level of ďŹ nancial commitment?

So far, they have been very cooperative. But in the era of scarce resources they have their priorities tooandtheircontributionhasnotbeenasconsistent as one may hope.

Could you let us into NSIA investments in and around the world and the rates of returns?

Sure, we can! At the end of 2019 the returns range from 5.7 per cent for Stabilisation Fund, 6.11 per cent for Future Generations Fund and 6.8 per cent for Nigeria Infrastructure fund What qualiďŹ es a project for execution or what are the criteria used to select a project?

A project must pass the following four-point test: 1. Is it of national importance? 2. Can we earn a balance of commercial returns and social impact? 3. Can we attract co-investors? 4. Is there a supportive legal and regulatory investment?

Once it passes these four-point test, we have to decide, if it is an area of focus – i:e we can sponsor, or co-develop and invest; or an area of interest, in which case we can only invest and not play the other two roles of sponsorship or co-development.

Formostthird-partyinvestments,weonlyinvest convertible or straight debt instruments. We no longer consider investing equity in third-party sponsored projects (because we have struggled with valuation and share agreements tend to be tricky if the project is already on the way) unless we are joining from the point of inception. And even then, our preferred option is debt as a way to protect NSIA’s funds With the current state of the economy, can you say Nigeria is attractive to foreign investors?

These are challenging times for Nigeria as FDI has declined relative to our peers. But the Nigerian economy presents a lot of opportunities and in my opinion remains attractive. With the population and demographics, there are opportunities for investors.

I make haste to add that we should not discountenance domestic investors. The quantum of cash that pension funds and other funds can invest is quite substantial and is being channeled now to the stock exchange and real estate markets as money market yields have declined sharply. So, we are also focused on channeling these into the markets. This was the primary reason for which the NSIAcreated InfraCredit to help pension funds invest in infrastructure bonds.

As an international ďŹ nance expert and banker,how can Nigeria mitigate the looming economic recession?

There are a few tools that can help us in this recessionary period. One, a focus on construction that relies on locally available materials should be encouraged. More housing starts, more projects like the cement road built by Dangote and Hi-tech have the potential to create jobs without causing inflation associated with construction projects that use imported materials.

Two, Nigeria is asset rich, with a lot of its assets either undervalued or not even reflected on the balance sheet adequately. Revaluing these assets, makingthemassessabletoinvestorsareallpossible options – privatisation, commercialisation etc. If we can create a geographic information system for all land across the country (not just Lagos, Abuja and the big cities and build infrastructure, it will attract investments).

Three, we need to clear debilitating regulatory and legal hurdles for investors. The relative decline in investments in the oil sector is a case in point, due to the lingering PIB which thankfully is being cleared up now.

Fourthly, reviving stalled state assets are important. Whilst we are looking at building new rail lines perhaps, we should put the narrow-gauge rail line to work as a lot of money has been spent on fixing it.

Finally, unlock the stalled privatisation programmes- Ajaokuta, ALSCON represent some of the most valuable assets that are being allowed to waste because of protracted legal challenge to the privatisation.

PWC reckons that the value of ‘dead capital’ in Nigeria~ is up to US$900billion. This should be an area of focus as it can attract foreign investments Has the NSIA been assessed by international ratings agency, in recent times? If so, can you share the ratings with us?

The NSIA has not been assessed by an international rating agency because from our early engagements with them, we were informed our rating cannot exceed that of the Nigeran Sovereign State rating. So, Nigeria is currently BBB internationally by Moody’s. The NSIA, being owned by Nigeria is unlikely to exceed that. Domestically, however, it is expected to be AAA given that InfraCredit, which was wholly owned by NSIA at one point was AAA rated, and that was before it invited other shareholders such as AFC.

24

˜ ˞ NOVEMBER 22, 2020

MARKET NEWS

AXAMansard Insurance to Consolidate Shares Goddy Egene The

Board

of

Directors

of

AXAMansard Insurance Plc resolved that the management of the company carries out the

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

share consolidation and issuance of bonus shares exercise required to take the company’s share capital

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 19Nov-2020, unless otherwise stated.

to N18 billion.

Based on this resolution, the company will hold an extra-

ordinary general meeting where shareholders would approve the proposal. AXAMansard Insurance

Plc disclosed this in a notification to the Nigerian Stock Exchange (NSE) at the weekend.

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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A 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 1.05 1.07 16.92% ACAP Income Funds 0.85 0.85 11.27% 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 3.26% AIICO Balanced Fund 3.75 3.88 53.26% 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 100.00 100.00 1.03% Anchoria Equity Fund 131.89 132.35 22.72% Anchoria Fixed Income Fund 1.46 1.46 21.92% 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 N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 125.55 126.43 30.67% AXA Mansard Money Market Fund 1.00 1.00 1.93% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.31 2.31 22.49% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.34 2.38 56.48% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.25% Paramount Equity Fund 16.11 15.81 26.37% Women's Investment Fund 134.35 132.89 20.49% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.77% Cordros Milestone Fund 2023 127.90 128.53 Cordros Milestone Fund 2028 155.34 156.92 Cordros Dollar Fund ($) 107.22 107.22 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 1.63% Coronation Balanced Fund 1.12 1.13 20.46% Coronation Fixed Income Fund 1.75 1.75 31.51% 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 1.27% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.68% EDC Nigeria Fixed Income Fund 1,190.97 1,207.92 7.52% 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 1,482.87 1,484.44 24.84% FBN Balanced Fund 183.32 185.01 24.86% FBN Halal Fund 110.69 110.72 10.69% FBN Money Market Fund 100.00 100.00 1.79% FBN Nigeria Eurobond (USD) Fund - Institutional 118.89 119.25 5.41% FBN Nigeria Eurobond (USD) Fund - Retail 119.07 119.44 5.04% FBN Smart Beta Equity Fund 149.21 151.54 14.66% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A 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 100.00 100.00 2.03% Nigeria Entertainment Fund 127.26 127.79 18.65%

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 1.94% Vantage Balanced Fund 2.83 2.89 29.41% Vantage Guaranteed Income Fund 1.00 1.00 7.50% Kedari Investment Fund (KIF) 156.01 156.94 8.90% LOTUS CAPITAL LTD ďŹ ncon@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 1.34 1.44 22.38% Lotus Halal Fixed Income Fund 1,143.84 1,143.84 9.97% 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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 1.59 1.62 28.65% PACAM Fixed Income Fund 12.06 12.16 7.09% PACAM Money Market Fund 10.00 10.00 2.42% PACAM Equity Fund 1.51 1.53 PACAM EuroBond Fund 109.10 111.46 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 141.01 144.36 10.64% 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 8.42% 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 2,521.35 2,532.80 27.34% Stanbic IBTC Bond Fund 210.33 210.33 6.09% Stanbic IBTC Ethical Fund 0.88 0.89 26.67% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 7.25% Stanbic IBTC Iman Fund 154.92 156.64 30.61% Stanbic IBTC Money Market Fund 100.00 100.00 1.35% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 24.06% Stanbic IBTC Dollar Fund (USD) 1.22 1.22 4.99% Stanbic IBTC Shariah Fixed Income Fund 110.53 110.53 6.06% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.40 1.43 17.38% United Capital Bond Fund 1.88 1.88 8.41% United Capital Equity Fund 0.87 0.90 24.05% United Capital Money Market Fund 1.00 1.00 2.00% United Capital Eurobond Fund 116.07 116.07 6.19% United Capital Wealth for Women Fund 1.07 1.08 2.03% 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 N/A N/A N/A Zenith Ethical Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

119.62

6.57%

53.51

2.80%

Bid Price

Offer Price

Yield / T-Rtn

11.63 120.09 89.32

11.73 120.09 90.99

37.94% 25.78% 18.91%

Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.42

4.46

28.25%

Vetiva Consumer Goods Exchange Traded Fund

5.83

5.91

-1.40%

Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund

16.17 1.00 16.11

16.27 1.00 16.31

34.31% 2.21% 54.54%

230.82

232.82

22.62%

NAV Per Share

Yield / T-Rtn

107.71

13.11%

Fund Name Vetiva Banking Exchange Traded Fund

Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

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.

A

WEEKLY PULL-OUT

22.11.2020

H

ECLECTIC NIGERIAN WHO HAD OVER 1,000 BOTTLES OF PERFUME A genius is often portrayed as a person with one percent inspiration and 99 percent perspiration. This assumption would then further make a lot of sense when mirrored alongside the life of Olufemi Olaseinde Olusola, the Chief Office Boy (COB, as he usually addresses himself) of Seinde_ Signatures Experience Studio, who shares with Funke Olaode and Sunday Ehigiator, his life’s episodes and passion for perfumes

e has the swag of a youth, the physique of an athlete and an intellect associated with ‘old’. These attributes combined together to form the personality of Olufemi Olaseinde Olusola. If you digress a bit, you can conclude that he loves life and he loves fun. This may, of course, have shed many years away from his age. He is 58 years old. He is a grandfather of one but he could be mistaken for a man in his 40s.

Welcome to the world of ‘Seinde Olusola, the new perfume man in town and the brains behind Seinde Signatures Experience Studio.

The newly built studion, perfume museum, is a Mecca to perfume enthusiasts, who love original fragrance straight from the stable of manufacturers scattered all over the world. Olusola has the collection and connection to make perfume lovers keep coming to his store. Donning designer wears from head to toe as he takes his clients and well-wishers round his new perfume facility, there is no argument, Olusola is big a man with taste for good life.

Olusola’s love for perfumes stemmed from admiration of his father’s perfume collections. Like many others, he started building his personal collection of perfumes via ‘blind buying,’ and gifts from friends. However, he has since grown to become a globally recognised authority in the craft of fragrance dichotomization, recommendations, and value.

The ‘frag-head’ (fragrance lover), speaking about his upbringing and career growth, said, “I was born on May 8, 1962, that makes me 58 years. I am a grandfather with a two-year-old granddaughter, Lolade Olusola.”

Explaining why he’s referred to as ‘Chief Office Boy,’ he explained: “I call myself the Chief Office Boy because all the problems stop at my desk. I have been around for a while, and I have worked in several places, in management positions and the likes. But now I’m here, settling down on my passion. I had a normal upbringing. My upbringing was below average actually. I was born to Mr. Olusola who was the Water Superintendent of the then Western Region. We were in Ife, now in Osun State, for a couple of years, mainly in the 60s.

“In 1974, we moved to Ibadan.

So my primary school was in Ife, and my secondary school was at Osogbo, St. Charles Grammar School, Osogbo.

My mum is from Osogbo. My mum is the only sibling to the popular artiste, Oyin Adejobi.”

After his sojourn in Osogbo, he came to Lagos and enrolled at Yaba College of Technology (YabaTech) where he acquired a Higher National Diploma in 1985. He did his youth service at Eminent Advertising, and since then he has been on his own eking out a living.

Olusola established himself as a serial ‘hustler’ from a very tender age against all odds. This earned

ASSISTANT EDITOR OLUFUNKE OLAODE/funkola2000@gmail.com

50

NOVEMBER ͰͰ˜ ͰͮͰͮ ˾ THISDAY, THE SUNDAY NEWSPAPER

COVER

An Afternoon with The Lord of Fragrance him enough to be able to afford to buy his first car, a brand new Mazda 203, even when he had not graduated.

“I got my first car while I was in YabaTech. I got it myself out of my own hustle. I bought it for N7,500 at Western Avenue. So I have always been on my own trying to make ends meet. I have actually been successful. I have lost money; lost everything I had ever worked hard for and started all over again. I have experienced the high and low of life but it’s only when you remain on the floor that it’s a problem. So you just have to get up,” he recalled.

As a young man, Olusola once looked for greener pastures abroad.

But his dream was shortlived and had to return home.

“At some point I went to America. I was in America for about a year. I think it was between 1999 and 2000, which I felt that I should have another opportunity and see if I can make something out of it.

In America, I was driving a forklift.

They were paying me $400 a week.

Each time I saw the struggle I was going through, I’d calculate the money in naira and how soon I’d get the things I need. So I’d always stay.”

But something happened along the line.

He recounted: “My supervisor was having a party. We were asked to contribute a dollar each to support it. However, based on the fact that I love giving and I’m compassionate towards charity, I just gave them $20. So one of them came to me and asked me embarrassing questions because $20 to him was huge. I was shocked, and asked him what he meant.

“He referred to my expensive wristwatch, and the clothes I always put on. That was how I found myself trying to explain to him and others alike that I had a business I was doing in Nigeria.

“I logged onto my website and showed them my businesses and made them understand the job I was doing in Nigeria. This was just to prove to them that I was not at their level despite the fact that I was there.

“But then, they just simply asked me one question, ‘So, what are you doing here?’ That question never left my head ringing. I got home that night, picked up my car, drove from Atlanta to DC. That’s a 10-hour journey. I got to DC, got the next flight, and returned to Nigeria. It was a major turning point for me. Because when I got back, it obviously started to reflect in everything I do. Because now I realized how they were over there.”

Upon returning to Nigeria, Olusola said the lessons learnt from the question he was asked while in the US affected his business in a very positive way.

“When I came back, my business ‘exploded,’” he enthused.

“I first went into telecommunications when I came back. I became the owner of the biggest telecommunication company in the country at that time. The name was S and S wirelesses. It was so big to the point that we were the case study at Lagos Business School. We were making so much money even when there was no N1,000 note.

However, the breakthrough took a slide and went from bad to worse following a business deal he invested heavily in.

“We got a franchise from a telecomunication company which came to Nigeria at that time. Then another bigger telecommunication came in and disrupted our activities. Meanwhile, we had

Olusola’ with wife, Temitope and grand-daughter, Lolade

Olusola

invested heavily in the project. We invested close to N200 million. But at the end of the day it was a failed business because we lost a lot of money. Of course, it led to litigation but my innocence saw me through.”

Did he think he’d rise again? That question triggered a flashback in Olusola’s memory. He picked his words carefully, noting: “It was one of the darkest moments of my life. But the immense efforts and encouragement from my wife, Temitope Olusola, and other family

members helped.

“From the very beginning, my wife has been amazing. She stood by me through thick and thin. My family also stood by me I really appreciate what everybody did at one point or the other.”

After the ordeal, Olusola began to pick up his life again gradually. His undying love for fragrance soon became a source of comfort and a means to an end.

“It started when I first left school. I used to have a friend, he is still my friend and we still communicate, he left for America immediately after we left school. His first summer when he came back home, he brought perfumes for me. So that was how it started. But at some point, after the crises that I had, the first thing I did after thanking God and becoming born-again was to become superstitious.

“I started thinking all these perfumes I was wearing perhaps were fetish. So I gave everything away. I think this was in 2005. As of that time, I already had over 1,000 perfumes.

But between 2007 and 2008, the number of perfumes in my possession were increasing again.”

However, upon visiting Caroline Cole and Mr. Colones page, he became more liberal with his addiction and embraced several opportunities it presented him with. Also as the pandemic sets in, it presents him more time to spend with his perfumes and understand them more, especially as he couldn’t meet with other frag-heads as he used to before the lockdown. From the lockdown experience, personal meetings with other frag-heads, interest of people in his collections, amongst other factors, there was no better option for him but to commercialize his addiction for the benefits of all fragrance lovers.

This informed the decision to open the ‘Seinde_Signatures Experience Studio’ located on the premises of Oriental Hotel in Victoria Island

Lagos.

“Seinde_Signatures Experience Studio is like a fragrance museum for fragrance lovers, people like me. A lot of perfume you might have seen or the people selling perfumes are just bringing in anyone they think people will buy and just dump it on everybody,” he revealed.

Explaining his experience through perfume over the years, he stated, “In my fragrance journey I realised that there are categories of perfumes. The mainstream perfumes, which are the designers and the multinationals, most of their products are mass produced and they use a lot of synthetics. The niche perfumes are classier.”

And on his new passion for his perfume museum and how perfume works, he said, “The studio is for fragrance lovers technically. You can come and have the experience of a lifetime, feel the perfume before you even decide to go and buy. Your skin chemistry, PH level, temperature and the rest, affects the way perfume performs on your body, hence you can’t just decide to go and buy any perfume, it may not feel good on you.

“So these are all you can come and experience here and be sure of what suits you before you eventually go ahead to make your buying decision. This ultimately saves you money, because here we have over a thousand brands of different perfumes.

“If you try our perfume, the fragrance envelopes you, and all these perfumes also cost money. So we have to charge for it, and at the same time we have to make sure that we give you the comfort and the experience that you want. Basically, the decision to open this studio came from feedback from our page, @Seinde_Signatures.

Manufacturer comes to me on the DM to ask how they can penetrate into the Nigerian market etc., which gave birth to the consulting aspect of the studio experience.”

Speaking further, Olusola said, “Then the partnership part of it came from the fact that we don’t want to sell perfumes, because if I do, I will use it all myself. But I can help the people that sell perfumes by aggregating them and making people buy from them.

So if people come here and they like a particular perfume and need to buy, we link them to one of our partners that sell that type of perfume.

“The partners are not necessarily the established shops and co; they could be online retail shops as well.

So they can easily just buy from any of them and they will be delivered to them.

“But before we take you as a partner we would have verified you, checked you and ensured you meet up with some certain standards that we follow.

We even certify them. We give you a certificate to show that you have experienced the fragrance with us. So they can also put it up on their page and have in-depth knowledge of what they sell.”

Speaking on the categories of visitation, Olusola explained that there are two types of visitation; basic and premium’ costing N15,000 and N50,000, respectively.

“We will decant like 3ml of two different perfumes for you to go home with to use before you decide to buy, and you can feel all the level of perfumes therein,” he said And on perfume etiquettes, Olusola said it was better to wear perfumes on the skin instead of the cloth. Specifically, he said fragrance should be worn on parts of the body that generates heat such as inside of the elbow and knee, back of the ear, and neck.

No doubt, his new venture comes with a lot of fun but how does he unwind? Olusola described himself as one with a relaxed life, whose family members are his best friends.

Nevertheless, he still spends most of his time experiencing and learning more about his fragrance, and hardly can he be caught unsatisfied or unhappy.

THISDAY, THE SUNDAY NEWSPAPER ˞ ͰͰ˜ Ͱ͎Ͱ͎

51

FEATURES

MARCEL BREKELMANS

Geared to Exceed Expectations As hospitality outlets reopen their doors after the COVID-19 lockdown restrictions, Vanessa Obioha writes that Marcel Brekelmans, the General Manager of Lagos Continental Hotel, is taking grand steps to promote African excellence in the hospitality industry

T

wo days to the reopening of Lagos Continental Hotel, its vicinity bustled with activities. New and old staff and expatriates converged at one of the conference halls on the 23-floor luxury hotel for a retreat. Experts like the Ghanaian chef,

Selassie Atadika, who was listed among the top 100 chefs in the world was part of the speakers at the retreat. The speakers emphasized the need for the staff to improve their service delivery to exceed the expectations of their guests.

The General Manager of the hotel, the lively Marcel Brekelmans was on the ground to ensure that the

activities were running smoothly.

Having been shut down for seven months due to the global pandemic, Brekelmans is keen on repositioning the hotel as a top hospitality offering on the continent.

His ambitions are necessary. In the past few years, the relatively new hotel, formerly known as Intercontinental Hotel, has experienced some challenges affecting patronage.

However, in all of this, Brekelmans only sees a silver lining. “I always like to see in whatever situation I end up in a silver lining. And the silver lining for this particular project was that it allowed us to rectify what was no longer acceptable in the current day hospitality world,� he explains. “The hotel had lacked tender loving care for quite a few years.

Whatever the reason they are for being I think lies behind us. I do not really want to look to the past, I would like to look to the future.�

What excites the Dutch hotelier most is the commitment of the new owners of the hotel, 11 Plc. “Some owners invest and then step back and see what’s happening, our owner is extremely engaged and looking to open a high-quality product, and they are not only willing but actually investing a lot of money into the property. And this is going to be continuous until we have what we are looking for,� he enthuses.

The commitment is reflected in the treatment of staff of the hotel. Despite the economic constraints caused by the mysterious coronavirus, for five months during the shutdown, no member of staff was retrenched or furloughed. Notwithstanding, there have been several apportionments both domestic and expatriates to support the next phase of growth for the hotel.

Brekelmans also points out that the hotel went through some refurbishment. “We took the opportunity of the lockdown to work on the outstanding maintenance issues,� he says. “Some of them are very visible, like painting, the new concepts of the restaurant, but some of them are not so visible, but no less important. We have dealt with the past challenges of continuity of power, air conditioning, hot water and cold water supply. These were four points that were really challenging our operation and therefore we did not get the guest satisfaction that we were looking for in the past few years but by rectifying these four pillars of any hotel, we hope to gain back trust from our new and past clients.�

Guests visiting the hotel which officially opened on October 15, will easily notice the facelift. From the rooms to the restaurants.

Each of the rooms has been soft touched. Painting, furniture, bathrooms, tilings, all have been redone in anticipation of a largescale refurbishment within the next year or two.

In ensuring in-house guests safety regarding the ravaging COVID-19, the hotel rooms are rigorously cleaned and disinfected. After departure,

rooms are left for a minimum of 24 hours and decontaminated before another guest’s arrival. Also, the hotel’s in-room directory now comes in a newspaper form. This enables the hotel to change it on daily basis to avoid paper contamination.

Two major projects that are at the heart of Brekelmans are the partnership with Atadika and the launch of the female executives’ floor.

The new floor dedicated to the corporate female travellers is redesigned by a female architect, artwork done by female artists, the security provided by females, and housekeeping and room services provided by female attendees.

In recent times, the number of female corporate travellers has spiked.

Brekelmans sees that increase as an emerging market to tap into. “More and more top executives in various companies are females. So it’s a definite market for our hotel to invest in and we have to diversify.�

But female travellers have also faced security risks while travelling. In a 2018 report by Global Business Travel Association (GBTA) in partnership with AIG Travel, 83 percentage of women say they have experienced one or more safety-related concerns or incidents while travelling for business.

Brekelmans intends to address that concern by providing safety measures. “The rooms will be comfortable but foremost safe. Safe in every sense that when a female guest is in our hotel, she can open the door without hesitation, knowing that it’s good people on the other side.�

To enhance the femininity touch of the new floor, Atadika will be packaging different chocolate boxes with female names that will be available in each room on the floor.

Brekelmans who has an enviable reputation as a result-driven hotelier sees the partnership with the chef as a way of promoting African excellence.

The chef according to him embodies the kind of passion he envisaged in his staff, having been the only African chef in the list of highly ranked chefs in the world.

Atadika’s promotion of African cuisine, and intersecting it with the environment, sustainability and economy are intriguing to Brekelmans. He is weighing other future partnerships with the chef.

Her understanding of the agricultural sector makes him query the future of agriculture in Nigeria. “Nigeria is one of the most educated farming community in Africa but the discovery of oil led to the abandonment of the agricultural sector. At one point, the country was the largest exporter of pineapple but all of that came to an end with the discovery of black gold.

But oil will come to an end; in the next 25 years or thereabouts. New ways of energy are coming up and we will have to diversify. Feeding the nation is a top priority and with incredible growth, you will need to get back into agriculture, you cannot afford to import it. It’s not sustainable. It’s not the way forward.�

But the way forward for the hotel according to him is to retrain the staff to fetch the maximum satisfaction from guests. “If you want to create a successful business, development and support must be continuous. Our business model going forward with our staff should be very simple. Do what you say and say what you do. So our guests know exactly what to expect when to expect it and how to expect it,� he notes.

52

NOVEMBER ͰͰ˜ ͰͮͰͮ ˾ THISDAY, THE SUNDAY NEWSPAPER

High Life Lagos Big Boy, Jide Coker, Loses Mom

T

here is a limit to what death can harvest, a clear limit to what this impersonal reaper can take. It could uproot the tree, but there’s nothing it can do against the fruits and seeds that have fallen to the ground.

This is the consolation for folks like Babajide Coker whose mom recently passed away.

Mrs. Virginia Obafunke Coker passed on to glory on November 1, 2020. Amidst the flood of condolence messages, Jide Coker found strength in the understanding that his mother had lived a brilliant life, and should be celebrated for raising the radiance of her family and generation. After all, much of Jide Coker’s prestigious station as a businessman and lawyer extraordinaire, powerbroker and Lagos Big Boy, derived from the solid foundations that Madam Virginia—together with Jide Coker’s father, Chief Henry Theodore Okeade Coker—had set up.

Madam Virginia Obafunke Coker died at a ripe old age, but she did not live like that.

Her debut to the Nigerian social scene came as a result of a happy romance with the late Chief Henry Coker. They married in 1960, solidified the precedent of holy matrimony, and accomplished more together than they could have done alone.

Chief Henry Coker passed away in 2015, a Senior Advocate of Nigeria (SAN) and former chairman of both Citi Trust Merchant Bank and HOESCH Pipe Mills Nigeria. His beloved Virginia Coker has only now joined him, leaving behind their four children: Mrs. Olatokunbo Adewole, Babajide Coker, Mrs. Tolulope Desalu, and Ms Ibijoke Coker—all accomplished hands within their respective domains.

According to reports, Madam Virginia will be laid to rest with a Christian wake to be held at the Shell Hall, Mason Center, Onikan, Lagos, on Wednesday, November 25; the Funeral Mass follows on Friday November 27.

For one who has lived and lived well, the farewell ceremony cannot be too much, and this is reportedly what Jide Coker intends to do. Even his friends in high places will be on ground to give the Coker matriarch a respectful send-off. Ultimately, hers was a life well lived.

Coker

with KAYODE ALFRED 08116759807, E-mail: kayflex2@yahoo.com

...Amazing lifestyles of Nigeria’s rich and famous

Finally, Bukola And Gbemi Saraki Sheathe The Sword Sibling rivalry has existed for as long as humanity has existed. Some are over in a moment; some take decades: some never end. It is a welcome development that the Saraki sibling rivalry has come to an end, after years of snubbing and the occasional snide remark.

The Saraki family is in a much better place at the close of 2020 than it was last year, all thanks to the 8th-year remembrance ceremony of their late father, Oloye Dr. Abubakar Olusola Saraki, and the intervention of Lagos-based cleric, Sheikh Sulaiman Farooq Onikijipa. Held at the late Senate Leader’s Iloffa GRA residence, the ceremony saw the reunion of former Senate President, Bukola Abubakar Saraki, and his sister, Gbemisola Rukayyat Saraki.

Sheikh Onikijipa led the prayers and demonstrated the renewal of ties between Bukola and Gbemi Saraki by having them hold hands. Thus, all hatchets born from political differences and personal beliefs are to be set aside and buried. Truly, this is a welcome development, and something their father, ‘Oloye’ Saraki would applaud if he were still around.

The number of Nigerian siblings who are as accomplished on the political

Gbemi Saraki

Bukola Saraki

landscape as Bukola and Gbemi Saraki can be counted on one hand. Both of them walk the path their father walked, becoming political pillars and Senators.

Unfortunately, they rode under different canopies. It is stated in some quarters that Senator Gbemi Saraki would have (in 2011) become Nigeria’s first female Governor, if her brother hadn’t directly opposed her.

But all that is water under the bridge now.

In an age where political parties and ideologies are traded with battling eyes, the Saraki siblings appeared to be different, very loyal—according to onlookers—to withstanding themselves. This rarity is why certain folks refused to believe that difference in political opinions was the bone of contention. No matter now, the past is past and Bukola and Gbemi Saraki can move on together.

Made in Heaven... Bond Between Billionaires Julius Rone and Scott Tommey It was British writer, critic, and anthologist, Hugh Kingsmill, who said that “Friends are God’s apology for relations.” Leaving aside the humorous implication of the observation, Kingsmill is spot-on! For thriving oil merchants and patrons of Niger-Delta youths, the bond of friendship is tougher than steel.

During his 50th Birthday soirée, Scott Tommey played host to quite a number of well-wishers, all of whom were on ground to honour the brain behind Osmoserve Global Limited. While most of the party attendees were captivated by awesome wine glasses holding awesomer wine, a few could see the special attention that Tommey paid to Julius Rone.

Nothing is new about the bond of friendship between Tommey and Rone. From being family friends (including their respective wives, Seiyefa and Utibe), to being Chairmen of their respective companies, Osmoserve Global and UTM Group, to being champions of the Niger-Delta, Tommey and Rone have been

friends for a long time.

There was a time when it was rumoured that Tommey and Rone were not on good terms. According to the speculations then, the alleged tiff did not stay long between the billionaires before spreading to their wives.

The gist started circulating around 2016, but died sometime in 2018, unconfirmed and uncorroborated by anybody. If there are remaining leaves from those rumours, Tommey’s attitude at his 50th party is enough to turn them to flames.

These are great times for the billionaire oil men. While Rone is yet to be 50, both of them have lived through more episodes of ups and downs than most people can count. But only continue to surmount the challenges to stand on the peak: still family men, still billionaire oil moguls, still philanthropists, still friends. In wealth and work, two hands are better than one—and that is Scott Tommey and Julius Rone.

Rone

Tommey

Temi Otedola Becomes Most Talked About Actress 2020 is the year that a number of things took place on the global front, in Nigeria, and in several industries of the Nigerian economy. As the year runs towards completion, the most distinguished of these experiences takes centre stage. Temi Otedola’s renown as the newest—and yet most talked-about—Nollywood actress is foremost on this list.

Social media is aflame with heartto-hearts running around the person of Temi Otedola and her role in Kunle Afolayan’s latest brain burster, Citation. The lovely 24-year-old daughter of billionaire and renowned philanthropist, Femi Otedola, has begun to star in the dreams of younger and older ladies. Why? Because she raised a ruckus playing the Moremi Oluwa, the lead character in Citation.

Written around the experiences of a young and intelligent young lady, Moremi, the film exposes the public to the unbridled miasma of moral decadence in tertiary institutions.

What happens when a young lady under pressure decides to speak up?

Otedola

Who gets the short end of the stick?

These are the main themes artfully rendered by Temi and her fellow film stars.

It is remarkable that Temi Otedola is not the only camery-regular person in Citation’s cast. With folks

like Joke Silva, Ibukun Awosika (Chairman of First Bank of Nigeria), Ini Edo, Gabriel Afolayan, Wole Olowomojuore, Seun Kuti, Toyin Ogundeji, Temi Otedola couldn’t be the cynosure of attention if she didn’t masterfully ‘burn the script’—which she did, beautifully!

Why folks are surprised at Temi’s performance in Citation is a surprise in and of itself. Perhaps folks are forgetting that this is the daughter of one of Nigeria’s most charming personalities, Femi Otedola, who commands the attention of all and sundry wherever he goes. Perhaps there is a lapse in memories with reference to Temi’s older sister, the gregarious and affable DJ Cuppy who has proved time and time again that even the children of the rich and wealthy can be talented too.

Temi Otedola, by all accounts, is the daughter of her father, a true chip off the old block. If she has amassed so great a following from her first film, one wonders what is to come. For rising Nollywood star, Temi Otedola, this really is only the beginning.

52

NOVEMBER Ͱͯ˜ ͰͮͰͮ ˾ THISDAY, THE SUNDAY NEWSPAPER

High Life Lagos Big Boy, Jide Coker, Loses Mom

T

here is a limit to what death can harvest, a clear limit to what this impersonal reaper can take. It could uproot the tree, but there’s nothing it can do against the fruits and seeds that have fallen to the ground.

This is the consolation for folks like Babajide Coker whose mom recently passed away.

Mrs. Virginia Obafunke Coker passed on to glory on November 1, 2020. Amidst the flood of condolence messages, Jide Coker found strength in the understanding that his mother had lived a brilliant life, and should be celebrated for raising the radiance of her family and generation. After all, much of Jide Coker’s prestigious station as a businessman and lawyer extraordinaire, powerbroker and Lagos Big Boy, derived from the solid foundations that Madam Virginia—together with Jide Coker’s father, Chief Henry Theodore Okeade Coker—had set up.

Madam Virginia Obafunke Coker died at a ripe old age, but she did not live like that.

Her debut to the Nigerian social scene came as a result of a happy romance with the late Chief Henry Coker. They married in 1960, solidified the precedent of holy matrimony, and accomplished more together than they could have done alone.

Chief Henry Coker passed away in 2015, a Senior Advocate of Nigeria (SAN) and former chairman of both Citi Trust Merchant Bank and HOESCH Pipe Mills Nigeria. His beloved Virginia Coker has only now joined him, leaving behind their four children: Mrs. Olatokunbo Adewole, Babajide Coker, Mrs. Tolulope Desalu, and Ms Ibijoke Coker—all accomplished hands within their respective domains.

According to reports, Madam Virginia will be laid to rest with a Christian wake to be held at the Shell Hall, Mason Center, Onikan, Lagos, on Wednesday, November 25; the Funeral Mass follows on Friday November 27.

For one who has lived and lived well, the farewell ceremony cannot be too much, and this is reportedly what Jide Coker intends to do. Even his friends in high places will be on ground to give the Coker matriarch a respectful send-off. Ultimately, hers was a life well lived.

Coker

with KAYODE ALFRED 08116759807, E-mail: kayflex2@yahoo.com

...Amazing lifestyles of Nigeria’s rich and famous

Finally, Bukola And Gbemi Saraki Sheathe The Sword Sibling rivalry has existed for as long as humanity has existed. Some are over in a moment; some take decades: some never end. It is a welcome development that the Saraki sibling rivalry has come to an end, after years of snubbing and the occasional snide remark.

The Saraki family is in a much better place at the close of 2020 than it was last year, all thanks to the 8th-year remembrance ceremony of their late father, Oloye Dr. Abubakar Olusola Saraki, and the intervention of Lagos-based cleric, Sheikh Sulaiman Farooq Onikijipa. Held at the late Senate Leader’s Iloffa GRA residence, the ceremony saw the reunion of former Senate President, Bukola Abubakar Saraki, and his sister, Gbemisola Rukayyat Saraki.

Sheikh Onikijipa led the prayers and demonstrated the renewal of ties between Bukola and Gbemi Saraki by having them hold hands. Thus, all hatchets born from political differences and personal beliefs are to be set aside and buried. Truly, this is a welcome development, and something their father, ‘Oloye’ Saraki would applaud if he were still around.

The number of Nigerian siblings who are as accomplished on the political

Gbemi Saraki

Bukola Saraki

landscape as Bukola and Gbemi Saraki can be counted on one hand. Both of them walk the path their father walked, becoming political pillars and Senators.

Unfortunately, they rode under different canopies. It is stated in some quarters that Senator Gbemi Saraki would have (in 2011) become Nigeria’s first female Governor, if her brother hadn’t directly opposed her.

But all that is water under the bridge now.

In an age where political parties and ideologies are traded with battling eyes, the Saraki siblings appeared to be different, very loyal—according to onlookers—to withstanding themselves. This rarity is why certain folks refused to believe that difference in political opinions was the bone of contention. No matter now, the past is past and Bukola and Gbemi Saraki can move on together.

Made in Heaven... Bond Between Billionaires Julius Rone and Scott Tommey It was British writer, critic, and anthologist, Hugh Kingsmill, who said that “Friends are God’s apology for relations.” Leaving aside the humorous implication of the observation, Kingsmill is spot-on! For thriving oil merchants and patrons of Niger-Delta youths, the bond of friendship is tougher than steel.

During his 50th Birthday soirée, Scott Tommey played host to quite a number of well-wishers, all of whom were on ground to honour the brain behind Osmoserve Global Limited. While most of the party attendees were captivated by awesome wine glasses holding awesomer wine, a few could see the special attention that Tommey paid to Julius Rone.

Nothing is new about the bond of friendship between Tommey and Rone. From being family friends (including their respective wives, Seiyefa and Utibe), to being Chairmen of their respective companies, Osmoserve Global and UTM Group, to being champions of the Niger-Delta, Tommey and Rone have been

friends for a long time.

There was a time when it was rumoured that Tommey and Rone were not on good terms. According to the speculations then, the alleged tiff did not stay long between the billionaires before spreading to their wives.

The gist started circulating around 2016, but died sometime in 2018, unconfirmed and uncorroborated by anybody. If there are remaining leaves from those rumours, Tommey’s attitude at his 50th party is enough to turn them to flames.

These are great times for the billionaire oil men. While Rone is yet to be 50, both of them have lived through more episodes of ups and downs than most people can count. But only continue to surmount the challenges to stand on the peak: still family men, still billionaire oil moguls, still philanthropists, still friends. In wealth and work, two hands are better than one—and that is Scott Tommey and Julius Rone.

Rone

Tommey

Temi Otedola Becomes Most Talked About Actress 2020 is the year that a number of things took place on the global front, in Nigeria, and in several industries of the Nigerian economy. As the year runs towards completion, the most distinguished of these experiences takes centre stage. Temi Otedola’s renown as the newest—and yet most talked-about—Nollywood actress is foremost on this list.

Social media is aflame with heartto-hearts running around the person of Temi Otedola and her role in Kunle Afolayan’s latest brain burster, Citation. The lovely 24-year-old daughter of billionaire and renowned philanthropist, Femi Otedola, has begun to star in the dreams of younger and older ladies. Why? Because she raised a ruckus playing the Moremi Oluwa, the lead character in Citation.

Written around the experiences of a young and intelligent young lady, Moremi, the film exposes the public to the unbridled miasma of moral decadence in tertiary institutions.

What happens when a young lady under pressure decides to speak up?

Otedola

Who gets the short end of the stick?

These are the main themes artfully rendered by Temi and her fellow film stars.

It is remarkable that Temi Otedola is not the only camery-regular person in Citation’s cast. With folks

like Joke Silva, Ibukun Awosika (Chairman of First Bank of Nigeria), Ini Edo, Gabriel Afolayan, Wole Olowomojuore, Seun Kuti, Toyin Ogundeji, Temi Otedola couldn’t be the cynosure of attention if she didn’t masterfully ‘burn the script’—which she did, beautifully!

Why folks are surprised at Temi’s performance in Citation is a surprise in and of itself. Perhaps folks are forgetting that this is the daughter of one of Nigeria’s most charming personalities, Femi Otedola, who commands the attention of all and sundry wherever he goes. Perhaps there is a lapse in memories with reference to Temi’s older sister, the gregarious and affable DJ Cuppy who has proved time and time again that even the children of the rich and wealthy can be talented too.

Temi Otedola, by all accounts, is the daughter of her father, a true chip off the old block. If she has amassed so great a following from her first film, one wonders what is to come. For rising Nollywood star, Temi Otedola, this really is only the beginning.

NOVEMBER ͰͰ˜ ͰͮͰͮ ˾ THISDAY, THE SUNDAY NEWSPAPER

53

Adebayo Adeoye bayoolunla@gmail.com; 08054680651

SOCIETY WATCH

Jimoh Ibrahim’s Assets: Going, Going, Gone?

Labo

Labo Properties Boss Olabisi Akande’ New Passion He is one of the few whose success stories belie their ages. Olabisi Akanbi, founder of LABO Group, is a consummate business magnate and real estate investor today. A man with an infectious geniality, he has risen above the challenges posed by his humble background.

Thirty-six-year-old Akanbi, whose interests revolve around entertainment, automobiles, media and real estate, is also getting more recognition as a philanthropist via his LABO Foundation, a platform he floated in 2019.

But beyond this, Akanbi is set to cause a stir in the nation’s music industry.To underscore his seriousness, the Ondo State-born businessman is said to have invested several millions of Naira in the business. A few days ago, the real estate merchant unveiled a number of artistes, including the ‘Enu gbe’ crooner, Dotman, under his Labo Entertainment label, an indigenous A-rated music label.

Speaking on Dotman, his biggest catch yet, Akanbi said: “I had followed his style since he was an undergraduate at the University of Lagos. When he left UNILAG, I invited him for business and we both worked on the business proposal. On the label are Konga, Sideone, Ecoman, Smapee and DJ Tough. It was gathered that the music video of Dotman would be shot in three countries, including US, Canada and South Africa.”

Labo Entertainment Limited is an organization set up to celebrate and promote entertainment in Nigeria, while also promoting budding artistes and giving Nigerian youths a place to showcase their talents.

Akanbi, a graduate of International Business Management from the St Patrick College, London delved into the property business, after understudying several multinational and indigenous civil construction companies including Cappa D’Alberto.

In 2012, he floated LaFAITH Property Company, which has handled a number of projects on Banana Island and Parkview Estate, both in Ikoyi; Alimosho, OPIC Isheri, Magodo GRA and Lekki/Ajah axis, among others.

With every new venture being more innovative than the last, Akanbi has gained a real-life experience through the implementation and execution of his risk-taking and thrill-seeking ideas as evidently seen with the latest commercial activity his real estate firm engaged in terms of sheer size: the ongoing multibillion-naira LAFAITH Resorts in the Lagoon front of Ibeju-Lekki, Lagos.

Are you looking for an ‘undertaker’? Are you gunning for a maverick businessman with the ‘Maddening Touch’? Or a struggling company into a carcass? First, you may need to learn about an uncommon dealer in dying companies.

Jimoh Ibrahim (OFR), a Nigeria lawyer, politician, and businessman may no doubt be considered a colourful example of how not to be a successful entrepreneur. The facts, his critics say, litter the map of Nigeria. Lest you should forget, Ibrahim is the chairman and chief executive officer of Global Fleet Group. He’s an uncommon serial entrepreneur with uncanny penchant for acquiring ailing businesses.

But why has the 50-something-year-old Nigerian come to mind after a lull? It was the recent announcement by the Asset Management Corporation of Nigeria (AMCON) that jolted the country’s consciousness that Ibrahim is still out there doing his things. Bad news though is that he’s indebted to the tune of N69.4bn.

Well, Ibrahim wasn’t honoured for nothing with ‘OFR’ by the Nigerian government. It took little time or no time for him to debunk AMCON’s claim.

In a statement by its spokesman, Jude Nwauzor, AMCON had announced the takeover of Ibrahim’s assets, located in Lagos and Abuja following the order of Justice R.M. Aikawa of the Federal High Court, Lagos Division.

According to Nwauzor, in compliance with the enforcement order of the court, AMCON took possession of “all 12 properties” including the following the building of NICON Investment Limited at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON

Hotels Limited building at Plot 557, Port Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited also at No. 5 Customs Street, Lagos.

Others are the building of Abuja International Hotels Limited located at No. 3, Hospital Road, Lagos; another property at Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a residential apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels Building at Plot 3, Road 3, Victoria Garden City, Lagos as well as the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.

To add salt to the injury, the court also ordered the freezing of all accounts belonging to “Barrister Jimoh Ibrahim” and his companies, including Global Fleet Oil & Gas Limited and NICON Investment Limited.

Well, all that was verbosity, said Ibrahim, who countered the order, saying: “The order is discharged already as Union Bank is owing us £220m. That is over N150 billion; four times over what AMCON is claiming. So, AMCON is pursuing nothing. An interim order lasts 14 days and tomorrow (Friday) is 14 days. It is of no effect.”

So why is he not paying up his hue debt?

Ibrahim has been variously described by his admirers and otherwise as ‘undertaker,’ pointing to the many seemingly dead or dying firms he had taken over with grandiose pledge to not only revive them but to make them some of the best-run

Billionaire Monarch, Oba Fredrick Akinruntan, in Celebratory Mood For the Olugbo of Ugboland, Oba Fredrick Akinruntan, nothing compares to his love for his people. Since his ascension to the throne 11 years ago, the foremost international businessman turned traditional ruler has made service to his people his top priority.

There is no gainsaying the fact that the sleepy town has benefited hugely from his continuous intervention programmes aimed at changing the face of the community.

Interestingly, the highly connected monarch is not resting yet, as he is poised to do more this year to commemorate his 11th year on the throne.

In the next one week, the sleepy but rich community will be bustling with various activities commemorating the 11th coronation anniversary of the monarch.

According to the organisers, the week-

The African Union Commission (AUC) and the International Committee of the All Africa Music Awards (AFRIMA) hereby announce the deferment of the 2020 edition of the All Africa Music Awards, AFRIMA, to 2021 in the light of the ongoing Coronavirus (COVID-19) pandemic.

The decision to suspend the 7th Annual Edition of the main awards ceremony which had been scheduled to hold over five days in Nigeria between December 2 and December 6, 2020, was revealed on Tuesday, November 10, 2020 and it was reached after several months of monitoring the prevailing COVID-19 pandemic and careful consultations with AFRIMA Stakeholders on the continent and around the globe.

The African Union Commission and AFRIMA further state that the cancellation brings with it great opportunities for future awards planning and preparation by utilizing the digital platforms and gains the new normal has thrust upon the world of concerts, conferences and

Oba Akinruntan

long event, which will be attended by eminent personalities from across the country, will also boost the economy of the oil-producing

Ibrahim

organizations in Nigeria. Nobody is deceived anymore.

No doubt, Ibrahim’s CV is very rich with unwieldy ‘job experiences’ that include the acquisition of EAS Airline, VGC Communications Ltd, NICON, Nigeria Re, NICON Luxury Hotel, Meridian Hotel, Air Nigeria, National Mirror, Newswatch, and of course his Global Fleet Industries. Throw into that mix his uninspired foray into politics, wanting to be the governor of Ondo State, causing the party he dubiously wanted represent to suffer a loss in the poll.

It would be nice to hear what Success Digest Enterprise Awards (SDEA), who honoured Ibrahim and inducted him into the SDEA’s Entrepreneurs Hall of Fame, think of him at the moment. community.

During the celebrations, the well-travelled king, also plans to formally unveil his various achievements to the world, showcasing his various intervention programmes meant for the good of his people.

Since he became the Olugbo of Ugboland, he has put the name of the riverine community on the world map with a number of projects such as the eye-popping palace.

In 2014, the flamboyant and colourful traditional ruler was ranked by Forbes magazine as the second richest king in Africa and the richest in Nigeria.

Aside from oil and gas business, Oba Akinruntan is also into real estate, having choice buildings in London and across Nigeria. The stylish monarch, who also sits atop a business conglomerate with interests in petroleum, shipping, construction, fishery, tourism and hospitality, consultancy services and water purification and production, owns one of the most expensive yachts in the country.

In addition, he has a custom-built 2012 Rolls Royce similar to that of Queen Elizabeth II.

Africa Union, Afrima Reschedule 2020 Awards over Public Safety festivals, some of the activities which make up the annual AFRIMA event calendar.

The health and safety of the community of AFRIMA Stakeholders is of utmost importance to us. Many of our awards nominees and delegates travel from different parts of the continent and from other parts of the globe to Africa each edition and fully understanding the risks involved with such movements, the suspension of the 2020 edition of AFRIMA is the only prudent course for us. We work day and night each year to ensure we provide a world-class and safe awards event.

Now, we are focusing all of our efforts on making our future events even better. We hope that the world will be able to take adequate action, and that the spread of the virus will soon be contained.

We would like to thank all our stakeholders

and partners for their support, open discussions and encouragement. We will continue to work with every one of you and share more information about our plans for the coming year which has been declared by the Policy Organs of the African Union as the year of Arts, Culture and Heritage and will be celebrated under the theme ‘Arts, Culture and Heritage: Levers for Building the Africa We Want’.

TheAllAfrica MusicAwards being a music property that recognises and rewards the work and talent of a myriad ofAfrican artistes from the old to the new generation of musicians will without doubt fully contribute to the AU year of arts, culture and heritage, through te promotion of the creative industries of music and audiovisual.

Segun, Bola Awolowo’s Unending Love In November 1990, Segun Awolowo Jnr., grandson of the late political sage, Obafemi Awolowo, was joined in holy matrimony with his beautiful wife, Bola.

While young Awolowo on that occasion had vowed before man and God to love his wife till eternity, beautiful Bola, in return, had given her heart to him for keeps. Thirty years after, this couple has not stopped fanning the embers of their love and they have also remained an item of sorts.

Their love life has been an inspiration to many, particularly in our society where it is almost difficult for marriages between two celebrities to survive. Last week, the

handsome dude showcased his poetic skill, on social media, when he celebrated his wife of 30 years, saying, “Happy Pearl Anniversary to you too my darling wife.

What a joyous ride it’s been! I did promise you a lifetime, always have and always will. I did, I do and I will always do.

“Let’s sing one of our favorite Hillsong Worship songs: “And I know I don’t deserve this kind of love. Somehow this kind of love is who you are. It’s a grace I could never add up. To be somebody you still want. But somehow you love me as you find me.Thank you, Bola, for loving me as you found me.”

Segun and Bola Awolowo.

54

NOVEMBER 22, 2020 ˾ THISDAY, THE SUNDAY NEWSPAPER

LOUD WHISPERS

with JOSEPH EDGAR (09095325791)

Era of Zombies with Megaphone Still on this matter, I keep cruising social media in an attempt to better understand the musings and agitations of the people at this time. But still coming up with a deep sense of frustration and fear. The level of discussion is appalling. In fact, there is no discussion. Most times all you get is abuse, absurdity and a clear lack of understanding of issues, processes and all. In response to a policy position or a statement, you will get – see him head, God punish him mama. Na idiot. How do we even begin to rebuild or hope for effective change when the people are just plain dummies and mumus? The social media terrain is now a keg of gunpowder that recently exploded and is brimming to explode again. Fear is really catching me cos this threat is real. What we get there are roaming digital mobs who are

driven and fuelled by fake news and a lack of understanding, who in seconds and a touch of the button spread vile and vitriol to all the nooks and crannies of the country and the world, poisoning minds and discolouring facts. You cannot even attempt a sane discussion especially if it is contrary to popular opinion which in most cases is jaundiced. Any attempt, you will get your mother’s private parts as a veritable response from millions of denizens. I can safely say that Twitter is now gutter. I have blocked it, never kuku understood it, so I don’t miss it. How can we hope for salvation when over 60 million people without the necessary tool that is education and public enlightenment now have access to such power, what do you get if not anarchy? Solution is not regulation but education. A robust

and concise public education that should increase understanding.

The government should learn to better engage social media. Also get strong positive influencers and engage in a war of ideas and vision. The gra gra of regulation and the ‘stupidity’ that is the proposed Social Media Bill will not work. All right-thinking Nigerians should join in the battle to salvage our national soul. The war is now in that space and not the streets. What we saw with the recent carnage was just a fallout of the idiocy that is on social media. Kai. Sad, shameful and appalling. It is truly the dawn of the zombies and don’t miss it, the zombification of Nigerians is on all sides of the divide. Dem plenty more for the government side sef. I don run.

Oshodi

Makinde

Abudu

IGP AND ARMCHAIR CRITICS They say one major general went on air to accuse the IGP of not being in control and that he was just sitting down there enjoying the perks of office. Well no be me talk am.

But in a swift response, the IGP has retorted that the person was speaking from a point of ignorance and a jackboot mentality not understanding democratic policing. I sha love this response. Me, I like this present IGP, he looks quiet and honest. Handsome in his own way with a slight resemblance to my favourite uncle Effiong Etim who died on Ikorodu road after Okada jam him some 10 years ago.

You see, me I find it very difficult to fight the IGP because it is really easy to stand far and be running mouth not knowing the huge challenges the man will be facing in office. We expect the IGP to perform miracles with little or nothing. Have you seen the police budget; can you imagine the red tape that even goes on to effect decisions? The IGP I hear reports to one Police Service Commission, then one Ministry like that – not sure of this one sha and then National Assembly and the President.

By the time they are chasing his people at Onipanu and the man send memo for more guns and it goes through all that red tape he has lost men. I hear over 22 policemen lost their lives in the last carnage. It is not to be carrying big head and go and be sitting down on TV and be talking crap. Go and use your influence to push reforms. Strong and effective reforms that will strengthen the IGP. Me, I think this IGP job is thankless, I even pity the man. Any time I see am for TV, I will feel like crying. It cannot be easy.

Our Police Force is endangered. They need help, understanding. Me in my small place anytime I see police, I use to stop, greet them, buy them coke and just say well done. I even gave a team a carton of noodles the other day at Sabo and the man started crying . I swear real tears. The second time o. The first time was in Ikeja, I saw the policeman and just moved to give him N10,000 just to say keep body and soul together. He fell down on my shoulders and started crying. He no wear mask, I come fear make he no give me covid.

I hug am say it is ok. Thank you for being a policeman. Nigerians should stand up and embrace our policemen and just say thank

you to them despite all. They are humans. As for the IGP whenever you are in Lagos, let me know so I send afang to you. I no go invite you o, you know say you fit come now come hold my neck, na una way. Just send address, I will send the afang to you. Well done. It cannot be easy where every fool is a critic but will not stand up and contribute. Well done, bro.

these things? It’s crazy. I have been a victim.

Yes I use the word victim. So one famed actor sat with me as I was discussing my play, Isale Eko. He had brought up an idea for an epic that was as watery as I could imagine. I thrashed the idea and stupidly sat in front of him discussing my play with the great William Benson. The mumu actor ask one question, make one comment, drink my Coke and chop my Indomie, stand up go him mud hut. I start to struggle looking for finance, putting together the whole production with over 200 Nigerians employed. Then four days to the opening night, I see letter from lawyer asking for N2m, say I infringe him copyright. I die.

I shout, I wanted to beat the hell out of him mumu head - copyright? A man that could not even speak English? Copyright? People advise me to calm down o, that he had my balls and if I was not careful, he would squeeze. Kai, I swallow my pride and went into negotiations with the brown teeth washed up actor. He was just smiling. Na beg, beg, beg before he take N400,000. So you see why I dey stand with Mo. For my Aremu, I never even appoint scriptwriter, I don get lawyer letter asking for N20m because I ask the person the meaning of Aremu and the person show me book wey he write. That one, I just laugh say make he go meet Prof Yerima and OBJ wey dey write script. I am happy that Mo is fighting back.

She must. I saw a documentary on the making of the movie. It was a massive project with a whole city almost built, huge paraphernalia criss-crossing countries and all the wahalaa that comes with it. All these while journalist siddon there o, she no ask for script, she no start negotiations. They offer her 5%, na when movie don finish we come see letter. Na 100% dem for give am. I am watching and waiting to see how this one will end. Mo please I dey behind you. Make we dey see.

GOV. SEYI MAKINDE IN MOBUTU COSTUME I was going through a rough day. I was in an emotional turmoil. I cannot talk wetin dey disturb me before Duchess come knock my head, make I just keep quiet. Anyways that is how I see picture of this handsome governor dressed like Mobuto Sese Seko complete with leopard cap o. Laugh one kill me. The man look like an underpaid hunter. I just roll for ground dey laugh like a fool. Mbok, what is all this faux militarization for this Amotekun? So you don get community policing na to ‘ape’ the military and come and be looking like Langbodo or local hunters? The need to shore up security, support existing structure cannot be discounted but somehow, I cannot seem to get over the costumes. The costumes be like something wey my Director William Benson will come up with when I never pay am him money complete. The things look very funny, please make una no vex, I just can’t help it.

Even as I write the laughter keeps coming and tears are just falling out of my eyes. Please who dey sew all these things? He needs a serious award.

MO ABUDU – I STAND WITH YOU The rave reviews this movie, Oloture, has thrown up made me to seek the movie out. I watched the thing for like five minutes and it did not catch me. In my current state, I no get time for slow-moving movie that will now catch fire in the middle. The thing must catch me instantly. So this one no catch me as I was watching the brothel scene where the so-called undercover journalist was being propositioned as a prostitute, I just move on to other things. But the people that sent me there insisted that I should go back that the movie was electric. Just as I was about going back, I saw the news report that the lady was threatening to sue Mo and her Ebony crew for something. I vex. I turn red. Why do people do

DEMOLA OSHODI – A BRIGHT STAR ON THE HORIZON Demola is a wonder to converse with. Slow talker but imbued with the depth of a Nobelwinning scholar. I sha, just used to enjoy listening to him. You know I am a sucker for logic, facts and deductive reasoning and na that street Demola build house. It is no wonder that he was discovered by the source and has

Mohammed

Keyamo

been pulled very close to power. He, I am sure is one of those people who are in various think tanks that have been saddled with throwing up the intellectual chassis of the political movement that has held the polity for a while. He is my friend, and husband to my sister Titi who is also holding her own, working very closely with the Lagos State Government. Demola in my own estimation is a man to watch out for. As we push for generational change in leadership and hopefully, a redefinition of processes with structure and institutionalization, hopefully arrowheading a renaissance in our polity, people like Demola will begin to emerge.

There is still hope. Well done bro.

MUDI AND KEYAMO – GROWING UP REMINISCENCES That was how Mudi carry me, RMD and Okey Bakassi to Abuja to relaunch his new outlet. I had just jabbed Okey on this page and did not know how he will react. So, at the airport, I quickly show the paddy the thing for my phone before he come give me neck lock. We laugh over the thing. Well that is how at the relaunch, Keyamo and Mamora show. One na minister of Labour or something, the other na juniour minister of Health. Yes na, I get am. Fashola when he hear say the Duke was in attendance, he dodge cos he know say, I go ask am make he help me find where Duchess hide my passport since pre-covid.

Anyway, that is not the gist. When it was time for the great Keyamo to speak, he come dey tell us how he and Mudi dey play for ‘gutter’ for Ughelli. No wonder when he was appointed, Mudi paint him picture for him wall. So the relationship was sealed in the playgrounds and streets of Ughelli before dem come Lagos come make am. It was a great show as it pulled a lot of dignitaries including me.

If I no mention my own name for my own write-up, who go mention am abeg? Mudi continues to blaze the trail and as he spoke on Kiss FM where he was interviewed by the wonderful Sam Adeyemi – the passion to excel is innate. He even maintains the passion in the toilet sef. I tell you. Well done and congratulations bro.

ARTS & REVIEW A

PUBLICATION

22.11.2020

IBE ANANABA’S VISUAL SONGS OF COURAGE

Cover continued on Page 56

Ananaba (with JOY COMES IN THE MORNING)

EDITOR OKECHUKWU UWAEZUOKE/ okechukwu.uwaezuoke@thisdaylive.com

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ NOVEMBER 22, 2020

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ARTS & REVIEW\\LEGENDS

IBE ANANABA’S VISUAL SONGS OF COURAGE With hislatestbodyofworks, featuring at an ongoing exhibition in Lagos,Ibe Ananaba takes the viewers’gaze beyond the gloominess of the present times as he offers hopes for a brighter future. Okechukwu Uwaezuoke reports

I

f ever a situation qualified as custom-made for introspection, it would be the government-imposed lockdown in response to the coronavirus pandemic. This was even when nothing forewarned anyone about its imminence. For Lagos-based artist, Ibeabuchi Ananaba, for whom there was always one reason or another to be found outdoors, adapting to this new normal was quite challenging. He could simply have been running errands for his family or visiting his main studio space in a duplex building somewhere in the neighbourhood, among other things. “This was my first time staying indoors for two to three days at a stretch,” reminisces the 44-year-old father of two. “Now, you’re thinking of how to get those things sorted out without leaving your home.”

Having moved his art materials from his main studio space to his one-room studio at home, he had to devise ways to engage his restive eight-year-old daughter and six-year-old son. Talking about his children, they never wanted to be left out whenever they saw him at work. “They wanted to make art too, and we got to the point where we were [struggling] over materials. My daughter and son would wake up and tell me: ‘I need acrylics, I need glue’, ‘Daddy, look at what I’ve created, do you like it?’. In the middle of when you’re thinking about something else, they’d want to get your assurance on the SpongeBob, Squidward, Mr Krabs or Pearl Krabs they painted.”

This scenario, the 1999 Institute of Management and Technology, Enugu painting graduate explains, was “a huge blessing” because it offered him a glimpse into the sanguine world of his children. It was also a time that he got the inspiration for the works in a new series he called All Will Be Well.

Then, there were the social media platforms, which offered outlets through which he could feel the pulse of his audience.“To keep myself busy, I started sketching and at times I’d post a drawing to see how people reacted, and their reactions would feed what I created next. It’s like non-verbal communication.”

But beneath the dark clouds, which looms over a harassed humanity, the artist scours for a glimmer of light. His efforts ended up crystallising into the works that make up his new solo exhibition, titled Towards the Light.

The exhibition, which is being organised by the SMO Gallery, is supported by The Wheatbaker and Louis Guntrum.

About the exhibition, which is currently holding at The Wheatbaker Hotel in the upmarket Ikoyi neighbourhood of Lagos, he writes in his Artist’s Statement: “It is a personal search for the glimpse of the anticipated sunny side of life and holding on to faith, with the hope that all will be well regardless of the heavy tides... we collectively swim against.”

The body of works, through which he strains to light up the gloomy horizon with his message of optimism, offers a visual repast of paintings deftly rendered mainly in acrylics, albeit sometimes

End of Tunnel complemented with charcoal or permanent markers. First, there is the 95 x 44 inches monochromatic charcoal and acrylics on archival paper painting, titled “Joy Comes in the Morning”, whose blur of moving figures hint at an optimistic end.

Another painting, “Amidst the Noise 2” (a 50 x 88 inches, acrylic and permanent marker on canvas painting) depicts a sartoriallyelegant man reclining in an armchair with a drink on a stool beside him, who seems at peace with himself despite the chaos around him. The painting’s yellow-themed doodly-motif-laden backdrop captures the artist’s vision of the fabric of the larger society as well as “the cacophony of deafening uproar within our ecosystem”.

“Conversation with the Future”, a 52 x 88 inches, acrylic on canvas painting, is a visual reenactment of the experience of being stuck at home with his immediate family members. This experience, which he describes as “incredibly humbling” deepened his daily understanding of the concept of parenthood and/or fatherhood. “The painting articulates my attempt to beam some light in my daughter’s mind that we will get through all this and

come out stronger,” the artist further explains. “It is a heart-to-heart message of hope, as I like to view life from an optimistic angle. The animated progression of the poses ultimately leads to the assurance that by strongly holding on to faith, WE SHALL OVERCOME!” “End of Tunnel”, a 51 x 88-inch painting, done in acrylic on canvas, furthers this message of optimism with its figures with outstretched arms. It is the artist’s visual allusion to the future when humanity would emerge victorious over the current depressing circumstances. Ditto “Towards the Light”, a series from which the exhibition derives its title.

Not even the exhibition’s strident message of hope can restrain a rare moment of sobriety – captured in the 30 x 30-inch acrylic on canvas work, titled “Evergreen Memories” – from asserting itself. “This special piece, devoid of any human element pays huge homage to those who are no more here with us for one reason or the other,” Ananaba explains. “It’s more like a celebration with fond memories of amazing souls in our hearts.”

Read full article online - www.thisdaylive.com

EXHIBITION

Leading Nigerian Sculptors make Metallic Statements with A ‘ JORIN’ Yinka Olatunbosun

F

ive leading welded metal artists in Lagos are gearing up for a group show that could change the public image of metal artists, turn their metals into compelling bank statements and inspire a younger generation of artists to make an enviable career in metal sculptures. This collective – consisting of Adeola Balogun, Fidelis Odogwu, Steve Ekpenisi, Collins Abinoro Akporode and Dotun Popoola – will be exhibiting a body of contemporary welded metal works, the first of its kind, at the Thought Pyramid Art Centre, Ikoyi from Monday, December 7 to Sunday, December 20.

The news of this unprecedented show was unravelled at a press briefing last weekend with a few of the artists recounting how the history-making show was created. Titled, Ajorin: Dancemetalphor, this show is first aimed at reorientating the public about metal sculpting which has been confused with roadside welding. Unlike the regular artisans, metal artists are professionals who intentionally tell stories, send messages or change perspectives with their metal works.

For this exhibition, 20 works that articulate the thoughts of individual artists will be show-

cased in an ambience that is Covid-19 compliant.

The gallery has an electric hand sanitiser alongside its strict “no mask, no entry" rule.

The curator, Ovie Omatsola expressed his optimism for this maiden edition of the exhibition sponsored by Elegance Gallery, Nigeria Machine Tools and VBANK. “Ajorin; Dancemetalphor should be seen as a proactive response to purify the reputation and future of this remarkable sub-genre,” he said. “The theme, Ajorin aims at spurring you to not just look but see the metal sculptures as rhythmic melodies rather than outcomes of a loud disturbing and unpleasant welding process.”

Balogun, who combines his academic career at his alma mater, Yaba College of Technology with consistent studio work and international exhibitions recounted how the sound of his metal welding almost caused a rift between him and his landlord. Eventually, the landlord came to appreciate the beauty of the finished artwork and subsequently gave him a better space to work. Inspired by the drum culture, Balogun appropriates naira coins, electronic panel in his series of life-size pieces.

His famous works in public spaces include the Obafemi Awolowo (19ft) statue, at Allen roundabout, Ikeja, Funso Williams bronze statue (18ft), at Western Avenue round-about, Sir John Glover and Madam Tinubu’s bronze busts, at the foyer of Union Bank building in Marina, Lagos.

Resilience was what Ekpenisi learnt a long time ago before the pandemic struck. After graduating with distinction from the Federal Polytechnic, Auchi, he proceeded to showcase his metal works at

One of the metal works eight solo exhibitions but never sold a piece.

That could have plunged him into depression or total discouragement. But, he remain dogged until he made his first break. “I don’t sell small art,” he once told a customer who was oblivious of the life-size nature of his works. Beating metal makes melody to his ears and he wouldn’t trade his career for anything. His works are often influenced by socio-economic realities, political challenges,

rich traditions and diverse beauty.

For Popoola who turns scrap metals into sculptures, his works had turned heads at big shows such as Art X Lagos and other international spots. Having groomed his turf at Auchi Polytechnic and Obafemi Awolowo University, Ile-Ife , his sculptures usually in animal forms have become his signature pieces. His horizon was further broadened as resident artist at John Lopez Studios Lemmon, South Dakota where he completed a residency-training in hybrid sculptures.

One of the best-selling metal artists from Nigeria is yet another alumnus of Auchi Polytechnic, Fidelis Odogwu Eze. Fondly called “The King of Metals”, he is regarded as one of Nigeria’s leading post-civil war and contemporary sculptors. A teacher and renowned consultant, his works are top picks in world-famous auction houses.

With stainless steel cutlery, fiber-glass and bronze, Collins has defined his style and knack for creative freedom. With birds as recurring motifs in his metallic pieces, this high-flying graduate of Auchi Polytechnic has delved into the subject matters of love, nature and social issues. His preoccupation with found objects is also a way of recycling objects to preserve the earth.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ NOVEMBER 22, 2020

CICERO

Editor:Olawale Olaleye Email:wale.olaleye@thisdaylive.com, SMS: 08116759819

IN THE ARENA

Fate of a Southern President In 2023, only the South can stop the South, writes Olawale Olaleye

T

he battle for 2023 took off long before the 2019 general election. That’s a matter of public knowledge by the way. Yes, it did, and it’s neither strange nor curious.

Suffice it to say it’s the nature of politics not peculiar to this clime. Indeed, it was the foundation for how the 2019 elections ultimately panned out.

Reasons for this are, however, not far-fetched.

President Muhammadu Buhari’s first four years in office gave the green light. With postings largely considered colourless in many of the key performance indicators, the presidency became where everyone thought they could do better.

But in spite of what many of the political actors had deemed Buhari’s inadequacies, they still wanted him to return to office in 2019 so the North/South power equation would prove less difficult by the time the 2023 discussion takes the centre stage. And that’s fast walking its way up the ladder.

Not unexpectedly, the Southern Nigeria is getting ready to take over from Buhari in 2023. After the president’s eight years in office – a Fulani from Katsina State – the southern leaders think power should naturally shift to their part of the country in the spirit of fairness, equity and justice.

Much as that rings true and seemingly plausible, there’s yet a problem: which part of the South should power shift to? But that’s not as easy as it sounds. If anything, that’s the one element that could deny the South the presidency if it fails to put its acts together.

Although some of its leaders have begun the search for a suitable candidate, they are still going to return to the same station: candidate from which part of the south?

When the nation returned to civil rule in 1999, power landed on the laps of the Southwest almost a la carte.

The arrangement that produced former president Olusegun Obasanjo was easy to comprehend.

The annulment of the June 12 1993 presidential election had thrown the country into turmoil, which lasted many years. Compounding this was the passing of the presumed winner of the election, Chief MKO Abiola, shortly after the demise of the maximum ruler, Sani Abacha.

Thus, when power was to move back from the military to the civilian, the choice of an Obasanjo from the Southwest and the same Ogun State as Abiola was not a rocket science. And for eight years, Obasanjo served Nigeria, representing the south, albeit from the Southwest in the power equation.

After Obasanjo’s eight years, power – still in the habit of the North/South arrangement – returned to the North with the late Umaru Musa Yar’Adua from Katsina in North West. However, in 2010, there was an interruption in the power equation, following the death of Yar’Adua and that threw up his unassuming deputy, Goodluck Jonathan, a South-southerner from Bayelsa State and minority Ijaw.

But Jonathan, who completed Yar’Adua’s first term, contested in 2011 and won, could not repeat the feat in 2015, thus throwing up yet another northerner in the person of Buhari, whose constitutional eight years would end in 2023.

President Muhammadu Buhari However, from the Southern tripod, only the Southeast has not had a ‘taste’ of the presidency. The best they have had since 1999 was either as Senate President, which mostly ended in chaos or Secretary to the Government of the Federation.

Therefore, the search for a southern president has this one dilemma to deal with. While the Southwest plays up its role and investment in the Buhari presidency as the reason it should produce the president in 2023, often alluding to a pre-2015 understanding, which others do not consider binding, the South-south thinks the job should come its way so it could complete the second term opportunity that eluded Jonathan.

Perhaps, the Southeast has a more valid and genuine case. It has never produced the president and for whatever reasons, the others are unwilling to yield power to it. These scenarios leave the South in a precarious situation, as none is willing to let go, at least, for now.

While these considerations subsist, there’s the party angle. Power rotation is not constitutional in Nigeria.

It’s an arrangement within political parties, depending on the ideological leaning of the parties especially since the idea suits Nigeria’s heterogeneous nature. The PDP expressly has that understanding or arrangement as it were but the APC tactically avoids playing it up.

Therefore, while the APC could choose to leave it open and encourage the best candidate to emerge from any part of the country based on merit as being lately canvassed by those who currently wield huge influence

in the corridor of power, the PDP cannot morally mull the idea of zoning the presidency to the South for as long as its national chairman is still from the same zone.

Invariably, what this means is that while the south, in its desperation and somewhat lack of unity of purpose fights to the finish over which zone in the region should produce the next president, it could inadvertently leave the space open and vulnerable for the often united North (whenever it is power play) to take its chances.

This is why the north may not contend with the understanding that power should shift to the south, but it would also not support any suggestion that would compel it to support any concrete arrangement to that effect, just in case the south messes itself up, which is most likely.

The north would rather the space was left open for the taking but would share the sentiments – just sentiment – that power should return to south, leaving the fate of the south in its hands. Besides, the North is largely at advantage in many of the considerations for power. Therefore, as the South continues its search for a suitable presidential candidate, it should be mindful of these nuances, and the fact that ‘only the south can stop the south’ in 2023.

If the south fails to align its thoughts and embrace that which addresses justice, equity and fairness without disrupting the balance of power, it might as well kiss the ambition goodbye. But, it goes without saying it’s difficult, however, doable political choices to make in larger interest.

P O L I T I CA L N OT E S

Lekki Shootings: Between CNN and BBC Reports

T

Sanwo-Olu

he CNN, last week, came out with what was termed a new report on the Lekki shooting of October 20, which again re-inflamed passion and dominated discussions for the better part of the week. CNN confirmed that soldiers shot at the protesters in Lekki as though it was there.

But CNN was not on the ground, when the shooting took place. It only pieced together its information from the internet and the social media and literally told the same story with the same facts already in circulation but with a different presentation. It concluded one died and another still missing in what had been majorly described a massacre.

This is different from its earlier 38 dead.

Curiously, before the CNN report was one by the BBC, whose reporter was on the ground on the night of the incident. The BBC reporter, with every iota of authority

said soldiers did not shoot at the protesters but in the air.

The atmosphere was charged, she confirmed and the only casualty she saw was one she reckoned was down as a result of the stampede, not from gunshots.

Interestingly, there appears a certain general public disposition to the Lekki episode, which is averse to alternative viewpoints and always wants the story told in a certain slant. This also explains why this particular public would embrace and celebrate the otherwise ‘lazy CNN report’ and discountenance the one by BBC, even though it was an eyewitness account.

In the final analysis, all sides must be mindful of the fact that there’s a judicial panel of inquiry, which is already looking into the matter and whose membership cuts across all interests. Perhaps, it’s only sensible to allow the panel to finish its assignment and stop haranguing everyone to buy into a particular version of the Lekki episode. After all, the jury is still out.

THISDAY, THE SUNDAY NEWSPAPER ˾ NOVEMBER 22, 2020

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BRIEFINGNOTES

Bandits Ahoy!

Unencumbered by meaningful deterrence, rewarded for raping, robbing and murdering both the rich and the poor while governance slumbers, several Northern governors are still bent on negotiation - cuddling the bandits - reinforcing perceptions of a failed state. Louis Achi writes

S

aint Augustine, the Algerian-Roman philosophertheologian, who lighted the candle of Christianity in pagan Roman Empire, moved the poser:“What are kingdoms without justice? They’re just gangs of bandits.”But the American writer and futurist Robert Anton Wilson took this further, when he cynically observed that, “Every national border in Europe marks the place, where two gangs of bandits got too exhausted to kill each other anymore and signed a treaty...”

Sociologically and historically, these are surprisingly valid postulations. But the genre of banditry that has evolved in the Nigerian space probably represents a novel addition to this peculiar criminal entrepreneurship.

Some four years ago, Governor Nasir el-Rufai of Kaduna State, revealed that his government traced some violent, aggrieved Fulani to their countries and paid them to stop the killings of Southern Kaduna natives and the destruction of their communities. El-Rufai spoke while Governor Masari of Katsina State with bandits fielding questions from journalists in his office in Kaduna. insurgency. In the North Central geo-political zone, In the Kaduna State governor’s words:“Fulani herdsherders’ impunity has become a key security concern. men from across Africa bring their cattle down towards Brutal rural banditry in the North West zone has taken Middle Belt and Southern Nigeria.The moment the centre stage. rains start around March, April, they start moving According to Chukwuma Okoli, Lecturer/Resident them up to go back to their various communities and Researcher Department of Political Science, Federal countries. Unfortunately, it was when they were moving University Lafia,“Rural banditry refers to armed vioup with their cattle across Southern Kaduna that the lence driven principally by the criminal intent to steal elections of 2011 took place and the crisis trapped some and plunder. It is motivated by the quest for economic of them. accumulation.The victims are individuals and com“Some of them were from Niger, Cameroon, Chad, munities with material valuables.The most common Mali and Senegal. Fulanis are in 14 African countries examples of rural banditry in Nigeria are armed roband they traverse this country with the cattle. So many bery, kidnapping, cattle rustling and village raids.” of these people were killed, cattle lost.They organised Today, rural banditry in the North Western states themselves and came back to revenge. So, a lot of what of Zamfara, Kaduna and Katsina has reached alarmwas happening in Southern Kaduna was actually from ing heights. Bandits terrorise villages with impunity. outside Nigeria.”

They have actually cozily settled in the Zamfara State, Four years later, under his watch, the carnage in setting up fortified enclaves in the hinterland and on Sothern Kaduna has not changed. In March, this year, the frontiers, from where they plot and carry out their El-Rufai declared that his administration would not operations. negotiate with bandits or grant them amnesty. While Many incidents of extreme banditry have been revisiting Karewa and four other villages in Igabi and corded within the past two weeks. A BBC Hausa Service Giwa LGAs, where bandits in an early morning attack report revealed that bandits have imposed ‘harvest fees’ massacred 51 villagers, he apologised for his adminof between N300,000 to N900,000 on farmers in some istration’s inability to protect the people of Southern communities of Zamfara State.

Kaduna.

Folks unable to pay should simply forget harvesting “If not for the security agencies prompt intervention their crops, which would rot in the bush while they they would have wiped out the entire villages,”he agonise over feeding their families. Bandits in Katsina, observed.

Kaduna and Niger states also reportedly impose these It cannot be denied that audacious banditry has scaled almost unbelievable charges. up in Northern Nigeria, adding to the region’s many Rural farmers here were forced to pay at the onset of security challenges especially, the bloody Boko Haram the season to access and cultivate their farms. Now, their

crops are ripe and they’re starving, but they can’t harvest until they incur more debts to settle the same gangs.

Just last week, the story of 26 kidnapped women and girls made the headlines. While Governor Bello Matawalle of Zamfara State claimed they were “rescued”after only one week in captivity without ransom payment, the victim relatives contradicted the governor and declared they paid N6.6 million to get them released – revealing they sold everything they had including their unharvested crops and incurred debts to raise the money.

More, last Tuesday another BBC Hausa reported that 12 Assistant Superintendents of police on deployment from Borno to Zamfara, were kidnapped by bandits in the North West zone Curiously, when the Northern Governors’ Forum (NGF) hosted northern political and traditional leaders recently, including the Senate President, ministers and the chairmen of Northern State Traditional Rulers led by the Sultan of Sokoto, they largely focused on condemning the #EndSARS protests and expressing support for censorship of social media.

It was Matawalle, who declared that dialogue with bandits was still relevant and would not abandon it, because firepower alone could not solve the problem of banditry in the state. Bandits in Zamfara and neighbouring states have kidnapped hundreds of people mainly for ransom in the past few years.

During a visit to his counterpart in Zamfara, Governor Aminu Tambuwal of Sokoto State suggested that governors in the North West region should consider reconciliation with bandits to end the security challenges facing the region.These come amid reports that Al Qaeda and ISIS elements were operating in the region.

Governor Aminu Masari of Katsina State had also tried a policy of rapprochement with the bandits and kidnapper, but the results have been mixed. Killings and kidnapping have continued in the state.

It could be recalled that in June, the House of Representatives had kicked against negotiations with bandits by some governors in the north after it summoned the nation’s service chiefs over the rising insecurity across the country.

It certainly cannot be denied that the security agencies with their various challenges have been recording some successes against the bandits. But this clearly does not seem enough especially, against the background of the country’s current North-centric security architecture.

But is“treaty”with bandits a viable option? Big question!

NOTES FOR FILE

FG, ASUU Can’t Remain Disagreeable

Chris Ngige, Minister of Labour

Failure by the federal government and the Academic Staff Union of Universities (ASUU) to find a middle ground in the eight-months long strike of the union over their refusal to adopt the Integrated Payroll and Personnel Information System (IPPIS), proposed by the government, is fast becoming a devastating pain in the overall education system.

Since March 23 that the Union embarked on the strike, the two parties have remained disagreeable over the payment system, which the government said was intended to weed out ghost workers and other forms of corruption.

In the alternative, while ASUU has

proposed University Transparency and Accountability Solution, because IPPIS was full of irregularities and would localize the university system, other academic unions have also proposed University General and Peculiar Personnel and Payroll System. Sadly, there is no consensus on any yet.

However, in collective interest, there’s a need for all the parties involved to embrace sound reasoning for the sake of the students, who have been home for eight months. It belies logic that the parties would remain disagreeable, even when this is dragging down the public education system.

The time to shift grounds is now so the students can get back on their campuses. A further stretch of the strike is going to be both shameful and devastating, and even more so, it would speak to self-serving motives of the two parties at the expense of the students, whose mates in private universities are far ahead.

Thankfully, the federal government made what it described as a temporary move yesterday by excluding ASUU from the IPPIS so it could be granted some funds to pay off some of the outstanding, what is however required is a permanent solution to the periodic ASUU strike over matters as simple as conditions of service.

THISDAY, THE SUNDAY NEWSPAPER ˾ NOVEMBER 22, 2020

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CICERO/ISSUE

Sanwo-Olu addressing protesters at the Lekki tollgate

Lekki Shooting and the Search for Truth Despite the differing foreign media accounts, the truth about Lekki tollgate shooting is still largely untold, writes Segun James

T

he alleged shooting of unarmed protesters at the Lekki Toll Plaza in Lagos has attracted reactions both locally and internationally. A month after the incident, the story is now changing. The massacre is indeed the alleged death of one person and another missing with several injured.

This was what the CNN said in its report that came several weeks after the incident, to which the federal government has taken exception, claiming that the international media organisation’s narratives contained several inaccuracies, innuendos, misinformation, disinformation and manipulated social media reports designed to ridicule the government and put it in bad light among the comity of nations.

The government said it might consider sanctions as punishment for alleged false news. CNN has since replied the government saying it stood by its story.

Perhaps, a recap of the facts already in the public domain would do. It was about 6.45pm on that faithful day. The Lekki Toll Plaza served as the meeting point for the #EndSARS protest, since it was where the promoters converged to vent their anger against a police unit that has turned itself into terror.

With music blaring and surplus to eat and drink, the protesters, mostly young men and women, were in the thick of massive fun, when men of the Nigerian Army arrived. And no sooner had the situation degenerated into a stampede than gunshots rent the air. The immediate account from that incident was that the soldiers opened fire on the defenceless protesters, allegedly killing over 78 of them.

In the end, reports of a massacre circulated, a situation, which led to the attacks on both public and

private properties. The alleged “massacre” sent a shockwave throughout the civilised world, triggering reactions from both the political and the business world. The rating of Nigeria in the world’s political index plummeted. Nigeria suddenly became a joke.

Nearly a month after, the CNN came up with its alleged investigative report now generating controversy. The CNN amplified what is largely unverifiable or at best, what’s being contested in the public, after piecing together pictures and videos from the social media. It concluded by saying one person died and another missing, which of course diminished reports of a massacre. In all of this, CNN was not at the scene of the incident.

The CNN report, however, contradicted the report

by BBC, whose reporter that was at the scene of the event and handed with authority. While the BBC reporter maintained repeatedly that the soldiers shot into the air, she also noted that the only casualty she saw was not as a result of the gunshots but the stampede. She even narrated her experience the day after at different parts of the state, giving credence to her report.

The world is daily reminder of the pervasive and potentially devastating effects of the social media, which is deliberately manipulative with misinformation and disinformation. Their space has also enabled hackers to commit a dizzying array of crimes.

One unintended consequence of the CNN report is that it gives falsehood advantage over the truth.

Although the cable network organisation stood by its story, the truth, however, remains that, despite all its faults, the Nigerian government has been consistent on the alleged killing at the Lekki plaza as it challenges anyone to bring out the contrary fact.

The person allegedly quoted in the CNN report, DJ Switch, has reportedly fled the country and her stories have not been collaborated by any other person let alone add up. The other person at the scene of the event at the same time as DJ Switch, by name Onesoul, had a different version, which corroborates the BBC report. This has made the allegation that a massacre took place a joke, even at the most serious moment.

Speaking to THISDAY, a spokesman for the Lagos State government, who pleaded anonymity because of the sensitive nature of the story, admitted that Governor Babajide Sanwo-Olu did indeed request the presence of the military at the toll plaza as the security situation in the state had degenerated given the hijacking of the protest by hoodlums, but the intention was never to kill.

He insisted that this could be attested to by the fact that the protesters at the State Government Secretariat at Alausa, Ikeja acceded to the government’s plea to leave, while those in Lekki refused. He regretted that the Lekki degenerated to what it has become, but maintained that there is no cover up on the part of the government except that the protesters and promoters wanted to impose their account on everyone else.

While this is in no way condoning the alleged crackdown on peaceful protesters, it must not be lost on everyone that the protest had been hijacked at the time and there was a need for government to restore law and order hence the intervention of the soldiers.

The peaceful protesters at the time had lost control.

However, with the judicial panel of inquiry frantically looking into the matter, it is imperative to grant the panel a benefit of the doubt and let them do their job, peacefully.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ NOVEMBER 22, 2020

CICERO/REPORT

Saraki and sister with Imams at the prayer session for their late Dad

With Brazen Shouts of ‘Idera De’, Kwara Welcomes Back Saraki Beyond the eight years remembrance prayers for his father, Dr. Olusola Saraki, a recent visit to Ilorin, the Kwara State capital by a former President of the Senate, Dr. Bukola Saraki was a clear message to the opposition in the state, writes Hammed Shittu

T

he ancient town of Ilorin, Kwara State, was last weekend agog as the strongman of Kwara politics and former Senate President, Dr. Bukola Saraki, was received with pomp and celebration, right from the Ilorin International airport.

Saraki, who had been out of town for almost 18 months after he vacated office as the president of the eighth Senate in June 2019, was in town for the eight years remembrance prayers for his late father.

A mammoth crowd of supporters and well-wishers had besieged the Ilorin International Airport to welcome back home the Waziri of Ilorin.

Shouts of “idera de” (comfort has returned) rent the air as his supporters repeatedly chorused it along the Ilorin International Airport road and adjoining roads in the metropolis.

Meandering through the popular Garin Alimi area, Sawmill road and other communities leading to the Emir’s palace became a herculean task as supporters of the former Senate President crowded everywhere.

The adjoining streets of Ilofa GRA residence of the Saraki family were a beehive of activities, as crowd of supporters milled around to welcome their political leader back into town, dressed in customised T-shirts and caps, with such inscriptions as “Saraki we love”, “o su wa”, “ABS-Saraki”.

The rousing reception accorded Saraki, whose party, the Peoples Democratic Party (PDP) lost out in the 2019 general election in the state, according to THISDAY checks, might not be unconnected with alleged complaints of neglect by some people in the state since the current government assumed leadership.

But Saraki’s return to the town brought a sort of relieve to the residents, who see him as their messiah. This belief prompted many residents to join him from the airport to the Emir’s palace and finally to his country home at Ilofa road, GRA, Ilorin, where they also gave him support during the prayers for his late father.

Saraki and his supporters also visited the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari at his palace in Oja Oba to feciliate with him on the occasion of his 25th year anniversary on the throne.

Saraki and his entourage later moved in a motorcade to his residence, where his political associates and other well meaning Nigerians had waited for him to be part of the special prayers in memory of his late father. Some of the dignitaries present at the event included Saraki’s younger sister and Minister of State for Transportation, Senator Gbemisola Saraki; Senator Rafiu Ibrahim, the state chairman of the Peoples Democratic Party (PDP), Kola Shittu, former Acting national chairman of the PDP, Alhaji Abubakar Kawu Baraje and former speaker of the state House of Assembly, Dr. Ali Ahmad among others.

The Chief Imam of Ilorin, Sheikh Mohammed Bashir Solihu led the prayer session, supported by the Grand Mukadam of Ilorin, Sheikh Sulaiman Dan-Borno, Sheikh Saanu Sheu as well as Imam AbdulRazaq Aduagba.

The clerics, in their separate sermons, admonished parents to bequeath love, good moral and religious teachings to their children for them to benefit remembrance prayers from such

responsible children.

Sheikh Bashir, said that late Saraki touched lives in all parts of the state and beyond through his philanthropic gestures, adding that the late politician lived an exemplary life now being emulated by his children.

The clerics said the Fidau prayer should be part of obligations of every responsible children to their late parents, because it attracts reward from God since it is what God loves and commanded.

Chief Mukadam of Ilorin, Sheikh Suleiman Dan-Borno, particularly, expressed gladness over the presence of both Senators Bukola and Gbemisola Saraki, at the event.

“We hold it that with your togetherness, love and unity, people will not see the secret of Ilorin. The late Olusola Saraki planted goodness, peace, prosperity, in all parts of the state. And people benefitted therefrom. We are assured that Saraki is happy in his grave with what is happening among the children and the people he left behind”, he said.

Imam AbdulRazaq Aduagba noted that the people of Kwara were happy with the children of the late political icon, because “Saraki is a symbol of love. “ The cleric urged people to discourage bad publicity against Dr. Bukola Saraki, saying that Allah has His ways of controlling affairs of life.

“We can all see the difference in what happened before and what’s happening now in the political situation of Kwara. Our people should, therefore, change their ways to love one another.

Let’s forgive ourselves and accept God’s ways”, he admonished.

An attempt by some hoodlums to foment trouble along Ilofa road on the day the special prayer was immediately repelled by security operatives keeping watch over the area. This development, however, led to a blame game between the PDP and ruling All Progressives Congress (APC) in the state.

The PDP, in a statement issued in Ilorin and signed by the state Publicity Secretary, Hon.Tunde Ashaolu, alleged that, “It was the APC-led government in the state that sponsored some suspected hoodlums to disrupt and attack the invited guests that attended the remembrance special prayers organised for the late politician, Dr. Olusola Saraki at his Ilofa country home, Ilorin over the weekend by the immediate past Senate President, Dr. Bukola Saraki”.

The party noted that if not for the quick intervention of security operatives, the armed thugs would have succeeded with their evil mission and that more casualties would have been recorded.

“We wish to place it on record that the APC is responsible for the ugly and unfortunate incident that played today out at venue of the prayer session held in honour of the late political icon of Kwara, Dr Abubakar Olusola Saraki.

“Before today’s event, we saw on social media platforms leaked screenshots of a WhatsApp conversation, where an appointee of Governor Abdulrahman Abdulrazaq instructed some thugs to unleash attack and cause chaos at the venue of the programme.

“Acting on the instruction of the Governor’s aide, the armed

hoodlums stormed the venue of the fidau prayer and attempted to disrupt the programme and attack innocent people.

“If not for the quick intervention of the security operatives, who were on ground, the armed thugs would have succeeded with their evil mission and more casualties would have been recorded. The APC was also rattled by the visit of the former Senate President, Dr. Abubakar Bukola Saraki and the rousing welcome he received on his arrival to Ilorin,” Ashaolu said.

But the APC in its statement signed by the state Publicity Secretary of the party, Alhaji Tajudeen Aro, accused the PDP and their leaders for the attack on security agencies and innocent residents of Ilorin during the event.

The party however warned the PDP against reintroduction of thuggery to the state politics.

“For the first time since Senator Bukola Saraki and his party were defeated during the last general election in the state, our state again on last Saturday recorded a sad reign of hoodlums at an event organised by the senator. This is sad and unacceptable.

“We have since 2019 put those ugly days of official patronage of hoodlums behind us as a state and it is of great concern that many people were injured as a result of the lawless conduct that happened during the event.

“For example, many innocent persons have been rushed to General Hospital after sustaining serious injuries from the reckless behaviour of his followers. We do not want such ugly development again in Kwara,” he said.

As the two parties traded tackles over the incident, the picture of a different circumstance, which almost coloured what really happened, broke out and it was a supremacy battle between two rival cults in the state.

THISDAY checks revealed that the violence coincidentally occurred at a spacious mechanic shop around Commissioner Way, GRA, Ilorin, where a suspected cultist, apparently tipsy, who came to drink at one of the pubs in the area was said to be shooting a pump rifle into the air, causing panic in the area.

The onlookers reportedly cautioned him but he was unperturbed, saying he was testing his newly bought rifle, which he described as one in town. It was, however, learnt that the fear that the cultist might wreak havoc on people in the area prompted security operatives, who were watching the incident some meters away to contain the situation.

The suspected cultist was later found to be on the wanted list of the police for allegedly committing many atrocities in the state capital. He reportedly fired some gunshots at the approaching team of police officers in a vehicle but he was shot dead in an exchange of gunshots with them. When Contacted, the spokesperson of Kwara State police Command, Ajayi Okasanmi, confirmed the incident but said he had not been officially briefed.

“I heard about the incident, but I have not been officially briefed,” he said.

However, Saraki’s press officer on local matters, Hon. Abdulganiyu Abdulquadir, was quick to distant the incident from the programme of 8th year memorial prayer for the late Saraki, which successfully took place some meters away.

THISDAY, THE SATURDAY NEWSPAPER ˾ NOVEMBER 22, 2020

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TRIBUTE

Nuhu Ribadu at 60: A School and a Model Abdulaziz Abdulaziz

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hen the quintet of us met early in September to moot the idea of commemorating his 60th birthday there was thick apprehension. How would the man receive this? This question went round. Do we inform him, carry him along, or—as usual with things like this involving him, just pull a surprise? We know the subject all too well and could, with exactitude, predict his reaction. It was agreed, at the end of that meeting, that two of us mention it to him separately, to gauge his reaction. I went first and tried to understate what it was on the cards, so as not to alarm him. “It was something small we’re thinking of doing,” I said. Before I took in a breath, he replied curtly: “What for? No! There is no need”. The plan was to go on no matter his initial reaction. I know the man will be thanking his stars now that our plan has failed.

Mallam Nuhu Ribadu, who turns 60 today, November 21, is the most modest public figure I have known. He lives a simple life and completely loathes ostentation; from the grandiose—like throwing a birthday party—to the mundane, like riding exotic cars or wearing glamorous clothing. He is warm around people and wears his heart on his sleeve—passionate and blunt even if sometimes impulsive and politically incorrect. His stoicism and forbearance are atypical of typical politician. His patriotism is legendary, with complete blindness to ethnoreligious or any sectional schisms.

I think the first time I saw him was one evening in April, 2010, at Mambayya House, in Kano. He was a guest at that year’s annual Aminu Kano Memorial Lecture. I was there to report the event for my then employer, the LEADERSHIP Newspapers. When we eventually met one-on-one at the beginning of 2013, we struck an instant chord. I got the opportunity of having one of those his few and far-between media interviews. I went along with my senior colleague, Amos Dunia, who was well prepared for the encounter. We got a very good interview, which spread, unusually, into four pages.

By the second or third time we met, some three months after the interview, Mallam Ribadu made a rather surprising request. He wanted me to get him ‘a smart young person’ who could help him on a project he was working on; someone who is good with research and can help speech writing, among others. He was still trying to settle down to a normal life after the series storms and bubbles—his ouster from office as the pioneer chairman of the Economic and Financial Crimes Commission (EFCC), and subsequent two-year exile-cum-work in the UK and US; his failed presidential bid; his United Nations assignment in Afghanistan, and the phenomenal petroleum revenue inquest.

My almost off the cuff recommendation was my friend, Gimba Kakanda. He was then a rising writing star with idealistic socialist ideas. I talked Kakanda into pausing his impending study trip to India, for this. When I took him to see Mallam one day in early May 2013, something happened which appeared like orchestrated conspiracy: the two of them convinced me to leave my job as Assistant Editor at Blueprint to join Gimba in what would become my most exciting working sojourn.

Working with Mallam Nuhu Ribadu for three years (2013 to 2016) and associating with him ever since has shaped my life in more ways than I can count. Over the years, he grew from being an admired icon and boss, to a model that is revered, into a school that you learn from daily and a father-figure with exceptional demonstration of care.

Ultimately he shaped my worldview into a less and less materialistic one; strengthened my sense of justice and equity; emboldened me into a more courageous person, and, on a lighter note, changed my sense of dressing and somehow unsuspectingly enrolled me into the ‘Monogamous Men Club’, of which he’s a strong adherent.

I have travelled with Mallam all over the world; from America to Zambia, and from Aba to Zaria. As the saying that travel exposes a person’s real character, from my trips with him I have learned a lot. Two things stand out: One is his discipline. Unlike many a person of his standing, he possesses an amazing sense of self-control.

Once in a room, he would just ask for two things: wi-fi and coffee, and that would be it, till the next day. He likes exploring the countryside and indigenous cultures, but never shopping or anything banal.

Second is his fearlessness. I have heard stories, including the famous encounter in which he slapped an armed robber while a student at the Ahmadu Bello University, Zaria, in the early 1980s. I first witnessed this part of him in November 2013. His bosom friend, former Katsina governor, Ibrahim Shema had lost his dad. We left Abuja around 8pm, with him saying we would spend the night in Kaduna and proceed to Katsina the next morning.

Moments after we hit the road he lifted his head from his iPad; “Are we not following that road?” he asked

Ribadu when he noticed that the driver had passed the detour that would lead us to the ‘faster’ Bwari-Jere road. The driver explained that he didn’t follow the road because it was dangerous—kidnapping was then picking up on that route. He hissed. “Why should we abandon a road because of anybody?” Silence. By the time we arrived at the outskirts of Kaduna he asked for the time. It was 10pm. “It will just be a waste of time to sleep here and again travel in the morning. We can just complete the journey.” We arrived in Katsina at 1am.

The fearlessness is not only in relation to dangerous humans. He seems not to bother about dangerous animals, too. At the end of a meeting we attended in some resort hotel close to the Victoria Falls, in Zambia, we took a stroll to see the famed site. We walked past the busy areas, passed the inquisitive tourists. We passed all the adventurous white folks. It was now only the two of us in the thick of the groove, and by this time, my heart was in my mouth. When I cautioned him that “there are no more humans here”, he shot back: “Are we not humans?”

Mallam Ribadu is the most self-effacing person I have known. In words and in action, he tries hard to evade the centre-stage, except, of course, where it is absolutely necessary. Many a ‘big man’ announce entry at events by sauntering through the front door oblivious of disrupting proceedings, but this is one spotlight he avoids.

Mallam would always enter through the back door and find an inconspicuous chair to hide. He would also rebuff attempts to take him to the front except when he encounters an adamant host, or has a pre-defined role to play at the occasion.

He is a lawyer, with a graduate degree in the field; a retired Assistant Inspector General of Police (AIG); a graduate of the National Institute for Policy and Strategic Studies; the founding Executive Chairman of the EFCC and holder of an honorary doctorate degree from Babcock University, Ogun State. Yet, as a mark of his greatness, he always addresses himself, formally or otherwise, as simply “Nuhu Ribadu”. Many friends and associates refer to him fondly by his initials, NR. Mallam Ribadu is someone who can stand for friends through thick and thin. He is also so well meaning that it takes him a long time to lose trust in anybody. I was there one day when a top banker, in the course of conversation, narrated how they had allegedly bribed one of his then top lieutenants at the EFCC to secure the release of a bank executive. Mallam was jolted. He sturdily

defended the ex-colleague, vowing that the man’s allegation was impossible. When he was told, in the heat of the campaign for the Adamawa Government House in 2015, that the same man was working hard to undermine him by actively supporting his opponent, he again hotly rebuffed the suggestion, despite the credibility of the information.

A friend asked me, after the wedding Fatiha of his daughter in October, and recalling the mammoth crowd when his two sons got married in January, “What is the secret?” For me his major secret for attracting this respect across the board, despite leaving office 12 years ago, is his decision to ‘find his level’, as the Nigerian lingo goes. He hardly goes to anybody knocking at doors. This legendary sense of contentment earns him respect and admiration. His watchword, he once told me, was his father’s admonition: “If you are on a journey for fortune and you meet honour on the way, stay there.”

Yes, this man is no saint. One major criticism against him, lately, was his sojourn to the People’s Democratic Party (PDP) and back to All Progressives Congress (APC). In my years with him, this was the most discomforting period I have noticed for him. Joining the PDP was a bitter decision personally and was largely at the instance of close friends who genuinely meant well.

“This is not me!” he kept telling some of us close enough.

Expectedly that decision brought dent to his otherwise distinguished image. But contrary to perceptions in some quarters, the cross-carpeting was no miscalculation, politically. It was a good political decision which however went awry with rapid changes in the polity.

His self-effacing conduct often offends people. He chooses, for example, to maintain dignified distance from friends in high places or get involved into just anything happening to remain relevant, as is the practice among the political elite. This is not funny for many. He is almost always difficult to get on the phone—he distastes the device. Usually anyone who calls to ask me for his number gets this response: ‘Go to his house in the afternoon. He’s there’.

One can go on and on about this patriot and selfless gentleman.

As you celebrate your diamond jubilee, we pray that Nigeria, the birth year mate you intensely love, is blessed with many more of such disciplined, dedicated, passionate and patriotic citizens like you. Happy birthday, Sir. ––Abdulaziz works as a journalist in Abuja. Twitter: @AbdulFagge.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ NOVEMBER 22, 2020

CICERO/TRIBUTE

The Many Sides of Jerry Rawlings Former Ghanaian President, the late Jerry Rawlings, will be remembered for always speaking his mind on issues, writes Paul Ejime

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ot even his harshest critics would begrudge Flt. Lt. John Jerry Rawlings - the late Ghanaian President his place in history as an influential, courageous, tough-talking, bold, impactful leader and charismatic Statesman who left deep impressions on the political landscapes of his country and, indeed, Africa.

J.J. or ‘Junior Jesus” as his admirers fondly called him, exuded great energy and revolutionary ideas. He and his colleagues were unhappy with the inequalities, corruption, and mismanagement that characterised the government of post-independent Ghana and decided to ‘remedy’ the situation in their own way.

The Pan-Africanist fervour ignited by the great Kwame Nkrumah, Ghana’s independent President, and his peers was beginning to wane with military dictatorships gaining currency in much of Africa then.

Scholars of “Contagion Theory” would better explain the plethora of attempted and successful military coups from the 1960s through the 1990s before the wave of multi-party democracy eventually caught up with the continent.

By May 1979 when Flt.Lt. Rawlings and his fellow young officer-travellers were arrested and sentenced to death for an attempted coup, Ghanaian neighbours – Togo, Cote d’Ivoire, Burkina Faso, Benin, were under one form of military Rawlings...the father of modern Ghana dictatorship or another. and positive international image, J.J. won re-election in Nigeria, the regional power, was no exemption. It was 1996 as Ghana’s longest-serving leader before handing over undergoing one of several transitions from military to power peacefully in 2001. He remained active in retirement civilian rule in October 1979, which was again disrupted with occasional public forays, such as turning up to direct three years later by the December 1983 army takeover. road traffic to ease gridlocks.

Indeed, military adventure into politics was like a In 2002, a year after leaving office, Rawlings called for pandemic on the continent. Uganda’s notorious dictator “positive defiance” against his successor President John Field Marshal Idi Amin Dada was only ousted in April Kufuor’s government, apparently out of frustration of the 1979 after eight brutal years in power. In Burkina Faso, a fiery Captain Thomas Sankara seized power in 1983, but his government’s performance. But he did nothing untoward to undermine that administration and, if anything, contributed revolutionary government was cut short in a putsch led by to the consolidation of democracy in Ghana. his comrade Blaise Compaore in 1987. Sankara was killed In subsequent years, Rawlings went ahead to campaign in that coup, but like Rawlings, the effects of his reforms still reverberate to date. Guinea Conakry and Guinea Bissau for debt forgiveness for African countries and, in 2010, served as African Union’s envoy to crisis-torn Somalia. had and continued to have their fair share of military Until his death on 12 November 2020, at the age of 73, interventions.

J.J. was never a fan of Western capitalism, saying in one of After the May 1979 failed coup, Rawlings was again in his famous quotes: “You can Christianise me, but you can the limelight on 4 June 1979, when junior officers broke jail never westernise me.” to set him free. But he never allowed the government of his In September, Rawlings’ video celebrating the 101st Armed Forces Revolutionary Council (AFRC) to overstay its birthday anniversary of his mother Victoria Agbotui went welcome. By September 1979, Rawlings had handed over power to the elected government of President Hilla Limann. viral. Unfortunately, the centenarian passed on a few weeks later, and Rawlings himself took ill shortly after his mother’s However, not before the AFRC’s controversial antiburial. The next the World heard was that the once-ebullient corruption “cleaning exercise,” that saw the public execuair force officer had succumbed to the cold hands of death. tion of some Supreme Court Judges, who handled J.J.’s trial Rawlings will be remembered for speaking his mind on and eight senior military officers including three former issues, especially on governance in Africa.

Heads of State.

Recently, when the debate was raging on how France When Rawlings seized power in June 1979, the headline and some of its Francophone allies tried to hijack the ECO of one British newspaper was “Half-Scottish polo player currency from ECOWAS, a video emerged with images of takes over in Ghana,” a reference to the fact that J.J. was J.J. chastising Paris on the issue. Even when it was reported born to a Scottish father and a Ghanaian mother. that Rawlings had disowned the video and its content, Notorious for his very short fuse, J.J. quickly lost patience many recipients were not persuaded otherwise. with Limann’s government, sacking it in another military According to them, the views expressed in the video were coup in December 1981 military, thus, returning to power as consistent with those of the vocal Ghanaian leader on such head of the Provisional National Defence Council (PNDC). matters.

The Council tried to transform Ghana into a Marxist J.J. often brought both undiluted seriousness and wise State and so turned to the Soviet Union for support. But the cracks to public speaking punctuated by anecdotes. There Communist system was abandoned two years later, with was a story about his unscheduled visit to the venue of a J.J. reluctantly embracing the Western free-market system military exercise outside Accra, the Ghanaian capital. The followed by the devaluation of Cedi - the local currency. exercise was on “Camouflage against the Enemy.” But J.J. gained popularity with the free-market reforms, during the visit, Rawlings conveniently ignored the comturning economic austerity into a stable economy in the manders and instead decided to interact with junior officers. early 1990s, which coincided with the advent of pluralistic When he asked a fidgety Corporal Kofi the name of the democracy in Africa. Moving with the global tide, he military exercise, Kofi replied that it was “how to camouwon the first democratic presidential election in 1992 and flage the enemy.” Jokingly but sternly, Rawlings directed the boosted Ghana’s international profile by contributing troops Commander to bring the troops back to base since it was to the regional ECOWAS Ceasefire Monitoring Group apparent they did not understand what the exercise was (ECOMOG) and the U.N. peacekeeping operations in about! But that was not the end of the story! Kofi’s mates Liberia, Sierra Leone, Lebanon, and Iraq, among others. made fun of him for lacking the courage to explain the Still riding on the crest of a robust domestic economy

exercise to the Commander-in-Chief. To which the Corporal retorted that: “Talking to the President is not easy.”

In another recent video, Rawlings as guest speaker at a University function snatched the hand-held microphone from a gentleman and handed it back to a young lady, adding cheekily: ‘I prefer the young lady,’ to a raucous applause by the audience.

Tributes have continued to pour in from world leaders eulogising the late Ghanaian Flt.Lt., who, unlike some African dictators, had the opportunity to promote himself to the highest rank in the Air Force while in power but resisted the temptation to do so. Rawlings led by example and from the front, heading one of the shortest military regimes that organised a democratic election. He also stepped down after two terms resisting the sit-tight or third-term craze on the continent.

In J.J.’s honour, Ghana’s President Nana Akufuo-Addo, who is seeking re-election on 7 December, has suspended his campaigns and announced a-seven-day national mourning and a State burial for the former leader. But like every human or any coin, there are at least two sides to Rawlings’ legacy. After all, one man’s terrorist, they say, is another’s freedom fighter!

Doubtless, the orphaned families of the Judges and senior military officers executed by firing squad under Rawlings’ watch would have uncomplimentary words for the late Flt-Lt. who on occasions said regretted his actions, but never apologised. Indeed, critics often accused his government of human rights violations and being intolerant of dissent.

Capital punishment is going into extinction as the World continues to lose appetite for the taking of human life as a deterrent against crime. As mortals, we are frail imperfect creatures. Yet, among us also are those who have the opportunity to apologise or atone for misdeeds but fail to grab the opportunities when presented with such. Unfortunately, for many, there is no luxury of a second chance.

The ultimate and inescapable truth is that while some might escape accounting for their deeds or misdeeds here on Earth, Divine judgement is inevitable! The consolation, however, is that, unlike humans, God is an impartial Judge.

Therefore, our task on Earth is simple - to spread love and do good to others at all times, and expect a favourable judgment.

May God guide us aright and grant J.J.’s soul a peaceful repose. Amen!

––Paul Ejime, an author and former war Correspondent, is an International Affairs Expert and Consultant to International Organisations

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NO ÍşÍşËœ ͺ͸ͺ͸ Ëž THISDAY, THE SUNDAY NEWSPAPER

PERSPECTIVE Dissecting Senator Bukola Saraki’s Homecoming in Kwara Alabi Olayemi Abdulrazak

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ormer Senate President Bukola Saraki breezed into Ilorin, the capital city of Kwara State, on Saturday November 14. The day coincided with the eightyear anniversary of the death of his father, Senator Olusola Saraki. Senator Bukola Saraki’s arrival came a day after his sister, Senator Gbemisola Saraki, arrived the state. She was in town apparently for two things: to hold a town hall meeting, as recently directed by the President, and of course for the eight-year memorials for her father.

That family was once synonymous with political power in the north central state. Everything and anything revolved around them. That changed in 2019 when they lost hold of the state’s political structure in what may be called an electoral shellacking. Not a single candidate supported by the scion of the family, Bukola, won any seat. His PDP lost the election 100%! He himself lost his re-election bid. Since then, Bukola Saraki had been away from the state. He secretly proceeded on a political exile.

On Saturday, he returned to the state apparently to join the prayers for his late father. But close watchers of the political environment would know that it was more than that. Saraki apparently came to test the water and send a signal to political players, especially those outside Kwara State. The level of mobilisation by his foot soldiers, the style he adopted in entering the town (mounting a long motorcade with him waving from the rooftop of his vehicle), and the media promotion of the visit showed he was driving a narrative: I am still a force to reckon with.

If a crowd determines anything, then it is safe to say Bukola Saraki remains a great force to reckon with. But crowd means a little in politics for those who know the game very well. Anyone can pull the crowd in politics. All that is required is enough money to go round and the vehicles to convey the crowd. For Bukola Saraki, or indeed any politician, a crowd at a campaign ground is no evidence of acceptance or political influence. To drive this point home, a video of Senator Bukola Saraki’s tumultuous crowd before the 2019 ballot surfaced. In it, he boasted about teaching the opposition a bitter lesson on the Election Day. The rest is history.

But there are issues in his coming, still. One, it does not show that much has changed about him.

He feels too entitled to the idea of his godfather status. The manner of his entry showed that side to the public all over again. It was all about him.

He has not seen anything wrong about this messianic approach and his helicopter politics. Rather, he still believes that propaganda unseated him as the sole kingmaker of Kwara politics. This means he does not appreciate the nature of human being.

Man, by nature, cannot remain subservient forever. For too long, Bukola Saraki called the shot in Kwara. His stranglehold became suffocating. At a point, he started playing God. He determined who got what in Kwara. His most glaring failure, but certainly not the first or the last, came when the Jonathan presidency shunned him and made Prof Abdulraheem Oba the chairman of the Federal

Saraki Character Commission (FCC). He tried to block senate confirmation of Oba but it never worked.

He humiliated the Professor by sharing a video of persons begging him to let the professor have the seat. That incident revved up public sentiments against him. But he did not stop. He became even more ruthless in his ways, thinking he cannot be challenged. The rest, again, is history.

The 2019 election and the pattern of developments since then show that Kwara has moved on.

Nobody wants another godfather. If he had studied the situation, he would note that the schisms within the ruling All Progressives Congress partly revolved around a vehement rejection of anything that may look like a Kwara under Bukola Saraki.

People want to determine their own destiny without the say-so of any godfather.

Today, no single politician in Kwara can lay outright claim to all the federal appointments to the state. Yet the state has got far more than it ever got under Bukola Saraki. There are two ministers from Kwara today. The Chief of Staff to the President Prof Ibrahim Gambari is from Kwara.

The Chief Economic Adviser to the President Dr Sarah Alade is from Kwara. Chairman of the Federal Character Commission Dr Fareedah Dankaka is from Kwara. Several chairmen and members of federal boards and parastatals are from Kwara. All of these happened without the say-so of any particular godfather. The political

On Saturday, he returned to the state apparently to join the prayers for his late father. But close watchers of the political environment would know that it was more than that.

Saraki apparently came to test the water and send a signal to political players, especially those outside Kwara State.

The level of mobilisation by his foot soldiers, the style he adopted in entering the town (mounting a long motorcade with him waving from the rooftop of his vehicle), and the media promotion of the visit showed he was driving a narrative: I am still a force to reckon with

atmosphere is without the fear of ‘the leader must not hear or the leader must approve of my saying or doing so.’ Traditional institutions no longer live in fear of being summoned to Government House, handed instructions, and be given a choice between carrying them out and losing their stools or be demoted. This is the situation in Kwara today. That freedom even reflects in the tone of engagement between the incumbent Governor and the citizens.

Of course, the ruling APC needs to get its act right. The internal schisms should be managed in a more mature way. However, it is a gross miscalculation if Saraki or his handlers think the schisms in the APC offer him a re-entry into the emerging political environment. To clear this doubt, a leading gladiator in Kwara politics Akogun Iyiola Oyedepo captured the political mood of the state in these few words following Saraki’s arrival: “The true meaning of enough is enough (Otoge) in Kwara politics is for yesterday and today. Let nobody tell us that yesterday is better than today.� It was a message directed at everyone, but most pungently at Saraki, his followers, and anyone interested in the state’s politics. The message seems to say that whatever the current challenges at the moment, they are no excuse for Saraki returning as a godfather. That era seems gone forever!

That is only a side to the story. Outside of political disagreements in the APC, Saraki also has a Herculean task to convince Kwarans he is needed ever again. For seven years under his tight grip, the state was under UBEC blacklist while basic amenities had all collapsed. Today, the state is out of the blacklist and has accessed matching grants of seven years to reposition the basic education sector. All the basic schools collapsed under his political leadership of the state. It was same for the basic health sector. Until 2020, Kwara had no isolation centre, much less modern facilities to manage infectious diseases like the COVID-19.

Children were no longer being vaccinated against diseases because Kwara was not playing its role.

No single public water work was functioning anywhere in the state, with the capital city surviving on water tanker. Workers were owed months in arrears of salaries/allowances. In 2016 when he confessed building his retirement home from the pension packages he awarded to himself, retired civil servants were dying of frustration and cheap diseases as they were not getting paid. Until 2016 when there was a public outcry, he was getting paid jumbo pension as a former Governor and he was also receiving humongous salaries from the Nigerian senate. Yet, civil servants were not getting paid their salaries in Kwara State especially at the local government level. As of May 29, 2019 when the new administration took charge, workers across colleges of education were owed 30 months of salary. Whatever mess the state is battling with today was created under his vice grip on the state.

Back to politics: Saraki has himself declared the (2023) game open when he told reporters that his homecoming is akin to the commencement of the Premier League. The question many would ask is, what role does Bukola Saraki want to play in 2023 in the state’s politics? A godfather? He wants to return to the Senate? He wants to contest for president? No option looks good for him. Who wants another godfather to design their future?

Not in today’s Kwara. People have moved on. If he wants to return to the Senate, it is his legitimate right. But he would be asked if there are no one else outside his family that is qualified for the office. It is said that the purported reconciliation between him and his sister, Gbemi, is premised on him going to the Senate and his sister becoming the deputy Governor. Again, anyone may ask, are they the only family in Kwara? The optics is bad for him whether on the moral plain or on the political chessboard. For these reasons and much more, it is pretty hard to see a brighter future for Bukola Saraki’s triumphant re-entry into Kwara politics, not minding the photo-ops that his homecoming offered him. Perhaps nothing makes his re-entry scarier than the god-like traits he again displayed when he came calling. Whether south or north of the country, people are simply tired of godfathers. ––Alabi is a political researcher based in Ilorin.

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NOVEMBER 22, 202ͮ ˾ THISDAY, THE SUNDAY NEWSPAPER

with RenoOmokri THE ALTERNATIVE C N N E x p o s e s B u h a r i ’s R e g i m e a s G o ve r n m e n t W i t h o u t C r e d i b i l i t y

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hree weeks ago, I released a video in which I vowed to provide irrefutable proof to the media that the Lekki Massacre of peaceful, unarmed #EndSARS protesters happened. And with the CNN Independent Investigation, which was aired on Tuesday the 17th of November, 2020, I am pleased to say I fulfilled my promise.

The Lekki Massacre happened. And anyone who is still denying it should be treated like a holocaust denier. And one such person is Lai Mohammed, Buhari’s unshameable minister of information. Even in his house, Lai Mohammed is known as a liar, because his son, Folajimi Mohammed, admitted into writing that the massacre occurred, while his father is still claiming it did not happen!

The CNN Independent Investigation is so detailed and should put the issue to rest. The only thing we should now be discussing is not whether the Lekki Massacre occurred, but when and how the International Criminal Court should charge and try President Buhari and General Buratai for their crimes against humanity.

Not only is Lai Mohammed doing a disservice to his boss by continuing to labour under his delusion that in the year 2020, he can use propaganda to deny a scientifically proven historical event like Lekki Massacre, he is also making a fool of himself by sparring with DJ Switch, a lady that is young enough to be his granddaughter.

Lai is 68 for goodness’ sake. Why is he still behaving like an 18-year-old jambite? Look at him talking of sanctioning CNN. His government is on life support. They borrow to pay salaries. They have no clout in the international community. Their weapons are imported. They are independent in name only. And they want to sanction CNN? It is just as former Reagan White House official and Johns Hopkins Professor, Steve Hanke said, “Ever since Sleepy Buhari took office in 2015, #Nigeria’s government has been among the least effective in the world. Sleepy remains asleep at the wheel.”

In fact, after CNN’s independent investigation, Nigeria stations fined by the politicised NBC for reporting the truth should head to court. Buhari’s administration has lost all legitimacy. By ordering and actively covering up the Lekki Massacre, Buhari has violated his oath of office and should

be impeached or otherwise legally removed!

If people like me and others had not gathered evidence and provided such to the international media, this government would have audaciously continued to kill Nigerians that resist its dictatorial tendencies and pretend that such killings did not take place.

They did it with the Shiites in Zaria in 2015. They did it in the Southeast, with Operation Crocodile Smile. The only people they do not do it with are Boko Haram and killer herdsmen. I wonder why.

Just two people died in Peru. Their President acknowledged it and resigned. In Nigeria, several unarmed, peaceful #EndSARS protesters (at least 15 according to eyewitnesses) were killed by Buhari, yet he still can’t acknowledge their deaths? Nigerians are just too docile!

But if every Nigerian is docile, I will not be. My friends and I will continue to insist that all those responsible for the Lekki Massacre of peaceful, unarmed EndSARS protesters must be brought to justice. The same way Charles Taylor was tried in the Netherlands and jailed in The UK is the same way Buhari must be made to pay for his crimes against humanity!

Another sad thing about the CNN investigation is that Nigeria still buys bullets from Serbia. Fifty years ago, Biafrans made their bullets during the civil war. In 2020, Nigeria still can’t make bullets. We have to depend on a small poverty stricken nation like Serbia. So shameful. So shameful indeed.

Under Buhari, we look like a nation that is just big for nothing. We hardly produce anything. Other countries produce even the food we eat. We are little more than an eater up of other men’s efforts. We consume, and consume.

Look at our debt situation. President Obasanjo paid off Nigeria’s entire foreign debt of $32 billion when oil was $22 per barrel. Buhari has borrowed an unprecedented $28 billion when oil is above $50. No matter how much money you give a man, it will never be enough if he does not know how to use it.

Happy Birthday President Jonathan

The best President in Nigeria’s history, in my opinion, is Goodluck Jonathan. He identified the single biggest problem in Nigeria, illiteracy and addressed it by building 165 Almajiri schools, and 14 new universities (13 built from the scratch and one, the Police College, Wudil, Kano, upgraded

THE PUBLIC SPHERE with Chido Nwakanma

to a full university.)

He was and is entirely detribalised. That is why he did not focus on development in his state or region. Some people mock him for this. But that is a father’s heart. You spread your love equally. You have no favourite child.

I remember once when we were at London’s Heathrow, and the Nigerian High Commission sent a car to pick President Jonathan up. I was waiting to pick a taxi to join him at his destination, when he said ‘don’t be silly’, and shifted from what we call the owner’s corner in Nigeria, for me to sit, he sat on the other side. Which other Nigerian leader can be that humble?

The single largest infrastructure project ever built in Nigeria is the 187KM Abuja-Kaduna railway. President Jonathan built it. And today, that is what is saving the North from kidnappers along Abuja-Kaduna road.

Humility is often seen as weakness. But in hindsight, Nigerians can now see that what they thought was weakness, was actually strength under control. Herdsmen were afraid under Jonathan. Bandits were unknown. Yes, we had Boko Haram, but they knew they would be devastated when caught, rather than be rehabilitated.

And after the Presidency, Dr Jonathan has been going around Africa to inject his peace serum in many an African nation, as the Face of Democracy in Africa.

This man gave Nigeria her highest ever increase in life expectancy since records were kept. From 49.7 years in 2010 to 54 years in 2015.

God used President Jonathan to better Nigeria when our nation was bitter. I am so proud of you sir. Happy 63rd birthday, my friend and mentor. God bless you sir!

Reno’s Nuggets

The only thing that has been on Earth longer than anything and anybody else is land. That means, the only purchase that you can make that will outlive you forever is land. Your car will grow old. Your clothes will age. Even companies die. But land is forever. Food comes from land.

Accommodation comes from land. Water is sourced from land. The three basic human needs, food, water, and shelter, are tied to land. That is why you must own land. It may not make you a billionaire. But it will save you from poverty! #RenosNuggets #EndSARS

@ChidoNigeria https://www.facebook.com/chido.nwakanma

Onitsha Christians for Trump and Matters Arising

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he intrepidity of Onitsha came to the fore on 25 October as the city inserted itself forcefully into the 3 November general elections a world away in the United States of America.

Most Reverend Professor Daddy Hezekiah led his flock in a rally and march around Onitsha city, hailing and praying for a Donald Trump victory. It reverberated globally.

Their lack of what lawyers call locus standi was not a barrier to the Onitsha Trump supporters: they had no direct stake, no membership of the Republican party nor registration to vote. For their efforts, they got the acknowledgment of the Donald, a notable narcissist. He tweeted: A parade for me in Nigeria, a great honor! pic.twitter.com/EHiSQMFvSZ — Donald J. Trump (@realDonaldTrump) November 3, 2020 The parade by the Living Christ Mission Inc was against the backdrop of anti-Nigeria words and actions by Donald Trump. He called Nigeria a shithole, reduced opportunities for immigration for settlement or study, and has fought against Nigerians seeking high profile jobs at AfDB and WTO. Many have made memes and jokes out of the Onitsha Christians and their escapade.

However, it is not a laughing matter nor for ridicule. We deal here with a context of two issues with a high toxicity quotient: religion and politics. Handle with discretion. Yet, we must break eggs to make this omelette.

The religious element has inflamed the discourse for and against. Christians of a certain persuasion have brought various narratives to bear on the matter. Touchy. Friends, family, colleagues, and classmates are falling apart over differences on the issues. Caution: please do not tear each other over Donald Trump.

The Trumpian Christians shared all manner of narratives.

One was very loud and forceful in its claims and many falsehoods.

“IN CASE YOU DONT UNDERSTAND THE REASON FOR THE BATTLES AND THE UNENDING CONFRONTATIONS: Trump vs New world order; Trump vs The Abortion Law; Trump vs The Anti-Christ Agenda; Trump

vs Vaccine producers; Trump vs Homosexual/ Lesbian/ Gay; Trump vs Terrorists Beneficiaries; Trump vs Pope? (You won’t understand); Trump vs Mainstream media (MSN); Trump vs Social Media Owners; Trump vs Bad leadership promoters in Africa; Trump vs killers of Christians in Africa; Trump vs Injustice; Trump vs The Illuminating (Illuminati) Members); Trump vs One World Government; Trump vs The Cancellation Of Prayers; Trump vs The Haters Of Humanity; Trump vs Anti God’s Laws; Trump vs Election Riggers; Trump vs vs vs....Victory Is Sure in God Name”.

A school mate shared this on social. He took umbrage at my calling him out publicly. “We all have our perspectives at looking at things. You have yours with your reasons; I have mine. The least you can do is respect that.”

I responded: “The Christian community seeks so much drama. Even in the days of our Lord Jesus Christ. For that reason, He warned them against a fixation on signs. He said that of the hour and time no man knows. Only the Creator can tell. As an 11-year old, I was a victim of the Christian end-time hoax when Jehovah’s Witnesses frightened my young soul with their false claim that the world was ending in 1975. It was a massive deception. Many End-Time followers see all manner of spiritual significance in everything, ascribing to poor Donald Trump matters of which he has absolutely no ken”.

My friend came around, we shared the Word, and I apologised for calling him out in public. Childhood friends.

There is no surprise in Onitsha boldly stepping out on the trending topic of certain Christians for Donald Trump. My interest, however, is with the phenom called Onitsha.

Onitsha intrigues. Onitsha confounds. Onitsha excites.

Onitsha is the birth city of Christianity in Eastern Nigeria and is responsible for the growth of the faith and literacy in the land. Who can forget the images of the throngs that witnessed the visit of the Pope to Onitsha? Or the mini-wars between the Anglicans and Catholics?

It is the Onitsha Spirit. Audacious. Onitsha represents the best and worst of the Igbo. So much energy. Drive.

Innovation. Onitsha is the city that gave the world a genre of literature with its name: Onitsha Market Literature. It is the

main distribution point that ensured Nollywood became a global phenomenon.

Onitsha is the city of enterprise writ large. Indigenous manufacturing speaks boldly in this city by the bank of the great river. Its market draws people from all over Africa.

Onitsha has its distinctive brand of gospel music. It is high decibel, vociferous and calls down angels while lifting the spirits of men up to dance. Increasingly, women lead the most successful bands, Chinyere Udoma with Adim Well Loaded and Njideka Okeke’s Akanchawa waving the flag.

I love Onitsha. It also irritates. I love it for what it represents and for my people who live in it.

A beloved cousin has lived in Onitsha 40 years. He trained the old-fashioned way in mechanical engineering and how to fix crankshafts and engines. It was for an era when industrialisation was top priority in Nigeria and Sir Joe Nwankwu held sway with his Olympic Group.

Over the years, the economic changes have buffeted Cousin Chinedu but not his spirit. My cousin is not the tallest of men. Many years ago, when it was time, he showed the Onitsha and Igbo spirit. He went for the tallest girl in the hood, all 6.3” of her, and brought her home as wife. She had the same pluck, serving as apprentice trader in selling wrappers and stuff and graduating to an importer who regularly travelled to China to “tu ahia container”. Covid19 has only slowed but cannot stop them.

Scholars of religion in Igboland and Nigeria need to step up. I call on Chukwu Ogbajie, C.O. Okeke, F. Anyika, J.C. Nwaka, F.K. Ekechi, P.E. Nmah and T. Adamolekun.

The features of Trumpian Christianity include uncritical adulation of a leader, ascription of values to the man, and the conflation of Biblical passages to current affairs in the name of prophecy. Remember Paula White or Pat Robertson?

Is the phenomenon of Trump Christians an inflection point for Christianity in Africa and the world? Or does it just replicate what has happened over the years at times of crisis when men seek answers in end-time messaging and decode the signs for themselves with varied meanings? This story is unfolding.

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THISDAY, THE SUNDAY NEWSPAPER Ëž OVEMBER 22, 2020

INTERNATIONAL Government and #EndSARS Protesters as Terrorists: Foreign Policy and Waking Up Trouble When it Sleeps

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he political governance of Nigeria under President Muhammadu Buhari (PMB) is fraught with deepening crisis of legitimacy, not because he has not been duly elected, but because, Nigeria, over which he is presiding, is ridden with problems with a recidivist, if not permanent, character. The permanent problems are not only essentially a resultant from conscious policies of neglect or don’t care attitude, but are also raising different questions as to whether PMB is really in charge of the governance of the country.

Many questions are often raised because professional politicians frequently behave as other sovereigns. They behave recklessly with impunity. Lawmakers also make laws above which they often place themselves.

And true enough, societal indiscipline is galloping. In the specific case of Lagos State, for example, many, if not most of the privately owned commercial vehicles by law enforcement agents, especially by the policemen and soldiers, never respect traffic rules. Why are traffic rules disobeyed?

Besides, there are always media reports on how government officials loot public funds recklessly and on how politico-economic chicanery has become the new way of life in Nigeria. Even just last week, on Channels Television’s Seun Okinbaloye’s Politics Today, Mr.Abdullahi Sule, anAPC stalwart and Governor of Nassarawa State, revealed how over N600m was embezzled by public officials, prompting the suspension from office of 62 Directors and Local Government autonomy. Corruption is not only institutional and syndicated, but has also fantastically become endemic.

National cohesion was by force under military dictatorships and by manu militari under democratic dispensations. Governance by manu militari has been particularly on the increase since 2015 with the sharpened insurgency of the Boko Haramists, PMB’s policy of nepotism, increasing demands for self-determination, calls for national restructuring, public allegations of President Buhari having a Fulanisation and Islamisation agenda, Fulani herdsmen-farmers dispute, armed banditry, kidnapping, etc.

More important, the recidivist character of these problems also partly explains the unending demands for political restructuring.

The general belief as at today is such that there is no way Nigeria can be kept united in the foreseeable future without first restructuring.

The country appears to be on the path of another civil war because PMB is vehemently opposed to restructuring, while the many apparent contradictions, unfairness, and injustice in the system have been deepening. These issues are largely the main dynamics of the #EndSARS protests, which not only began with calls for an end to police brutality, but also had popular support.

Anti-SARS Protest as People’s Protest

The #EndSARS protest, in light of the public support it enjoys, can be rightly considered as a people’s protest. The protest is manifestly the culmination of public complaints to which the Government has paid very little or no attention. What appears to be most unfortunate is that Government wrongly gives the impression that the law of Nigeria only applies to one section of the country and not holistically to the country. Besides, protests meant to bring about good governance are unnecessarily and subjectively politicised.

Northern governors, as well as northern legislators in the National Assembly present the #EndSARS protesters as an attempt to unseat PMB. National questions are generally given a northern regional connotation. In fact, political governance of Nigeria appears to be conducted on the basis of a North versus South dichotomy. One illustration of this observation is the double standard approach to the control of mineral resources in the country.

Media reports have it that the Zamfara State Government was about to sell N2 billion Naira worth of gold to the Central Bank of Nigeria (CBN) in conformity with the PresidentialArtisanal Gold Mining Development Initiative (PAGMI), but this right and freedom to commercialise gold that normally belongs to the Federal Government of Nigeria is vehemently refused to the people of South-South who have been asking, for a long time now, for control over resources in their region. The demand for resource control in their areas is largely because of the devastating effect of oil exploration and exploitation which have polluted the environment and made it very inclement to live in. There is no meaningful development there.

Obadiah Mailafia, former Deputy Governor of the CBN and columnist with The Punch newspapers, has rightly reminded that,

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Bola A. Akinterinwa Telephone : 0807-688-2846

e-mail: bolyttag@yahoo.com

Buhari while, on the basis of the 1999 Constitution and the MineralsAct, 2007, Solid Minerals remain in the Exclusive Legislative List, the land necessarily belongs to the local communities on the basis of the 1978 Land UseAct. Put differently, the content or what is within the land belongs to the Federal Government, while the land as container, belongs to the people. Consequently, mining gold by private individuals in a constitutive State of Nigeria,like Zamfara, cannot but be illegal.

As further explained byAlhajiAttahiruAhmad, the Emir of Anka and Chairman of Zamfara Council of Chiefs, the illegal miners of gold in Zamfara are Fulani. In his words, ‘here in Zamfara, the bandits are predominantly Fulani... (who) come from outside the State or even other countries.’ They join the people of Zamfara to ‘...operate freely with little or no challenges from anywhere’ (vide The Punch of May 19, 2019).

What creates a double standard and warranting protests is at the level of another national resource, crude oil.At the level of the people of the South-South, crude oil similarly belongs to the Federal Government of Nigeria and the land also belongs to the people.

Thus, crude oil similarly remains a noisome issue: the people of the South-South want to be able to exploit ‘’their’’ oil resources, but are not allowed any right over the petroleum resources in their area.

Why is this so? Why is the Federal Government keeping mute on the people’s and state exploitation of gold in Zamfara State? This publicly perceived double standard is currently fuelling national controversy and seriously threatening national cohesion as well.

Second, there is the controversy over the Constitution of Nigeria.

In this regard, the Constitution provides for religious secularity which forbids national or any constitutive State religion. But contrary to this constitutional provision, the Northern States are referred to as Sharia States or Muslim States. This is an open contradiction that gives impression of double standard in the governance of Nigeria. True, while state religion can be accommodated under a true federal system, such an accommodation cannot be superior to the Constitution of Nigeria.

Third, is again, the 1999 Constitution of Nigeria, even as

PMB does not understand that he is the temporal father of all Nigerians.By implication,his lack of understanding affects national unity. He does not know that, as the father of modern-day Nigeria, he must never provoke his children to anger as provided in Colossians 3: 21. He has unnecessarily been myopic about the criticality of the consequences of provoking the children into anger by portraying them as terrorists, who they are not really.Considering peaceful protesters and people reportedly funding peaceful protesters as terrorists cannot but generate an encounter from orders and counter-orders both of which can only amount to disorder with likely debilitating effects. Describing non-terrorists as terrorists only pushes them to become one. If serious learned academics,sophisticated technicians, technologists,and seasoned engineers complain and are treated as terrorists, government will only be pushing them to the wall to ďŹ ght back. In this case, no Commanderin-chief of any country will be able to contain a guerrilla terrorism that it may lead to.Terrorists do not have battle ďŹ elds. Consequently, PMB must learn how not to destroy Nigeria unwillingly. Describing peaceful protesters as terrorists is unnecessarily killing Nigeria softly. Fela Anikulapo Kuti metaphorically put it thus:‘when trouble sleeps, yanga (braggadocio) go wake am up, weting he dey ďŹ nd, na palaver he dey ďŹ nd’

amended, which is not believed to have been made by the people of Nigeria. The opening statement in the Constitution, ‘’We the People of the Federal Republic of Nigeria,’’ is considered very fraudulent as it is not a resultant from the political will of the people of Nigeria. It is, indeed a military-couched constitution, designed to protect more of military interests than of the people’s interests. This is why there has been a general clamour for a people’s constitution.

Chief Wole Olanipekun, SeniorAdvocate of Nigeria and a legal luminary, has argued in favour of a completely new constitution and not simply for an amendment to it.As he put it, on Saturday, November 14, 2020 in Ikere Ekiti, Ekiti State during the 2020 edition of the yearly Wole Olanipekun Scholarship ceremony, what the Constitution needs is ‘’a total overhaul, a re-drafting, a re-crafting and a total replacement, starting from the preamble to the definition of schedule’ (vide The Punch, November 16, 2020, p.41).

More significantly, he believes that restructuring the polity has become a desideratum. In light of the #EndSARS protests, he believes that there is the urgent need ‘to drastically restructure this country, starting from the architectural layout of government and governance as wantonly displayed in the Constitution foisted on us by the outgoing (sic) military government without any input by Nigerians.’ And perhaps most importantly, he said ‘all arms of government have to be completely redefined, resituated and re-strategised for a new Nigeria, which will bring about unity, and faith, peace and progress.’ In his eyes, this can be made possible by applying the doctrine of necessity and this cannot imply the suspension or termination of government at the levels of Federal, State or Local Government.

Most unfortunately, however, all efforts to address the Constitutional problems, particularly the need to restructure, have been to no avail. There was the 2005 Constitutional Conference, the purpose of which was to seek a possible replacement to the 1999 Constitution, as well as the 2014 National Conference, which recommended political restructuring, but the report of which was simply kept in the drawer to gather dust. PMB himself told the general public that he never had time to look at the report and that the reports were in his drawers.

What is noteworthy about this point is that the call for political restructuring is a popular demand, particularly in the southern part of Nigeria. However, this demand is mostly opposed to in the North.

The visible impression often given by Government is that political governance is predicated on North-South interest dichotomy.

Fourth, and related to the issue of political restructuring, is also the controversy over the choice of appropriate system of government for Nigeria: parliamentary or presidential system? Many learned opinions have it that the presidential system as practised in Nigeria is over centralised and does not allow for true federalism to exist. It is also believed to be too costly in terms of costs of governance.

Air Commodore (rtd.) Luke Ochulor, the first Military Governor of Delta State and one-timeActing Military Governor of Rivers State, noted in an interview with George Onyejiuwa of the Sunday Sun, on November 15, 2020 that from 1970 until the early 1980s, Nigeria’s resources were well managed. However, ‘what destroyed Nigeria is the presidential system of government, which was adopted in 1979,’ he said.

In his eyes, the parliamentary system is more appropriate for Nigeria because it is easier and cheaper. Presidential system has a dictatorial nature.As commodore Ucholr further put it, ‘those who want to come and fleece Nigeria from outside would egg on the people to adopt presidential system so that they would find it easy to consider a few leaders and collect what belongs to all of us.

You can see that the presidential system of government that we are operating has made it a winner-takes-all kind of system. This is why he believes in restructuring as a solution to Nigeria’s problems.

PMB, Rule of Law and Nigeria’s Future

And perhaps most notably, the situational reality in the country, as at today, is that PMB is standing like another Rock of Gibraltar against any demand for restructuring of the country, while the generality of the people, especially in the southern part of Nigeria are saying, in the mania of theAmerican people’s reaction to the intransigence of President Donald Trump to accept election defeat, that if PMB does not accept the idea of restructuring, Nigeria will restructure itself. The implication of Nigeria having to restructure itself cannot be far-fetched: imminence of war. But can Nigeria survive a second civil war? Most unlikely! This is why there is the need to thread softly in considering peaceful protesters as terrorists.

The foreign policy implications can be devastating in the immediate and long run.

Above all, and most disturbingly too, PMB has many cases of blatant disregard for rule of law.At times he subjects the rule of law to the primacy of national security, which under normal circumstances, is to be ensured within the framework of law.At times, he simply consciously refuses to respect the Constitution of the land.

It was just last week Thursday, 19th November that a very revered constitutional lawyer, Professor Ben Nwabueze, drew public attention to PMB’s ‘subversion’ of the EFCCAct and the 1999 Constitution. He reminded that Section 2(3) of the EFCCAct requires that ‘the Chairman and members of the Commission, other than ex-officio members, shall be subject to confirmation of the Senate’ (vide The Nation of Thursday, November 19, 2020, p.22) Read full article online - www.thisdaylive.com

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NEWS

Acting News Editor ĂŒĂ™ĂŁĂ?Ă‘Ă‹ Ă•Ă“Ă˜Ă?Ă‹Ă˜Ă—Ă“ E-mail: Ă‘ĂŒĂ™ĂŁĂ?Ă‘Ă‹Ë›Ă‹Ă•Ă“Ă˜Ă?Ă‹Ă˜Ă—Ă“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—ËœÍ¸Î€ÍšÍ˝ÍşÍťÍ˝Î ÍşÍ˝Íť Ě™Ă?Ă—Ă? Ă™Ă˜Ă–ĂŁĚš

Fayose: I Won’t Join Political Enemies to Shoot Down Tinubu ‡ Says crisis with Makinde, Olujimi not personal Victor Ogunje in Ado Ekiti A former Ekiti State Governor, Mr Ayodele Fayose has said he would not join political enemies of the former Lagos State Governor, Senator Bola Tinubu to shoot him down politically, describing him as one of the greatest builders of men in Yoruba land and Nigeria at large.

Fayose said this in Afao Ekiti yesterday while speaking with journalists as part of events commemorating his 60th birthday.

He said though he was not holding brief for Tinubu, who is the National Leader of the All Progressives Congress, but added that people should learn how to appreciate those who had done creditably well despite political differences.

On his seeming frosty relationship with the Oyo State Governor, Seyi Makinde and Senator representing Ekiti South Senatorial District, Biodun Olujimi, Fayose said there was no leadership tussle among them.

He added that there was nothing personal and that the issues would be resolved in the interest of the People’s Democratic Party (PDP).

Fayose spoke on the recent defection of the Ebonyi State Governor, David Umahi to the APC, saying he would never jump ship like those politicians that were bereft of political ideology, describing those indulging in such acts as political robbers.

Fayose said: “I am not championing the course of Tinubu,

am not in the position to do that, but there is no denying the fact that Tinubu is a prominent Yoruba leader, whether in APC or in PDP. “There is no gainsaying that fact. Fayose is a prominent son of Yoruba nation. Governors Nyesom Wike, Ifeanyi Okowa, Okezie Ikpeazu, are prominent sons of southern Nigeria. “What am I trying to say is that, we can’t hid their identities and goodwill for political reasons.

We can’t deny their contributions.

UNVEILING PROJECT ZERO...

Lagos State Deputy Governor, Dr. Kadri Obafemi Hamzat presenting a plaque to Management of Wema Bank PLC during the flag-off of the Project Zero at Maryland, Lagos. Left is the Chairman, Lagos State House of Assembly Committee on Education, Hon. Oluyinka Ogundimu.

Other leaders from the North like Ahmadu Bello Sardauna, they made different impacts not necessarily like Awolowo.

So, Tinubu has paid his dues. I have paid my dues, Okowa has paid his dues, Wike has paid his dues, we need to acknowledge them. “The late Balarabe Musa, who was a leader of note and repute, cannot be forgotten in history.

For me, Tinubu has paid his dues.

I stand by that. I have not seen Tinubu after the Ekiti election by any means; we have not even met at a function or saw him passed. “President Muhammadu Buhari condoled with me on the death of my sister, does it mean we are on the same page politically? No. I will not sit down in any corner to shoot down Tinubu. I am not a member of APC and I will never be. But I supported Governor Fayemi to be governor by Tinubu’s influence at a time�.

He said that in spite of the crises in the PDP, He would not jump ship like some leaders of the party had done, saying: “if we are fighting in PDP, let us fight it inside PDP. People who have been jumping ship are armed robbers. They are being driven by greed and inordinate ambition. “These are indications of the type of leaders we have in our country who are without ideology.

They go for only what they feel would benefit them. “Our politics is sick. Everything in Nigeria is currently sick and is a function of the leadership

that we have. Governor Umahi’s joining APC after benefiting several positions in PDP was unprincipled. We do not accept the excuses given by the governor. “I am not satisfied with some things in PDP, but leaving the party does not equally solve the problems.�

He said that the entire raging crisis between him and other leaders of the party in Ekiti and the region would be resolved in the interest of the PDP. “There is nothing to worry about. If Governor Makinde and I have issues, Nigerians should not worry themselves about that, it is not personal and more so, there is no power in the region. There is no regional government. Every power lies in the state. Structures in Ekiti are different from structures in Oyo, structures in Oyo are different from structures in Lagos. “I was the one who went to flag off Governor Makinde’s campaign in Ogbomoso. Whether he is backing Senator Olujimi or not, the fact remains that the struggle for the control of party’s structures in Ekiti has come and gone, so why do we have to fight over spilled milk? “We won the congresses, but they are in court, if the court says it’s Olujimi that is right, we would follow her and if the court says she has no case, they should join us so that we can move the party forward. Let us pursue our interest legitimately in the manner that will create peace in the region�.

Lagos Tracks 21,000 Students Who Failed to Return to Schools after Lockdown Gboyega Akinsanmi The Lagos State Government has said no fewer than 21,000 pupils have not returned to their various schools after lockdown was lifted.

As a result, the state government has unveiled Project Zero, an initiative designed to track out-of-school pupils and return them to the school system.

This was revealed in a statement THISDAY received from the Office of the Deputy Governor, Dr. Obafemi Hamzat on Friday, admitting that the issue of out of school children has become a serious challenge.

The project, a collaboration between the state government and organised private sector (OPS), will see each child being kitted out with school uniform, school sandals, school bags, two pairs of socks, writing materials and exercise books.

Quoted in the statement, the state governor, Mr. Babajide Sanwo-Olu observed that the issue should be given the attention it deserves to build a society where every child of school-going age is found in the classroom and not on the streets as child hawkers or maids.

The governor explained that

those being tracked should also include those whose parents have relocated to Lagos in the aftermath of COVID-19.

He said: “With the assured support of our partners, Project Zero will bring pupils on the brink of dropout back to school.

Our activities shall commence with the tracking and identification of children who have dropped out or with high risk of dropping out of school.�

Sanwo-Olu said although the challenge predated the current pandemic, many evidence-based projections suggest that the aftermath

of the coronavirus might see more children out-of-school with its implication on social stability and cohesion.

He said the best time “to act is now, as government and private organisations acting, as partners in social development will intensify efforts at ensuring that all children are in school, irrespective of their socio-economic background. “I also appreciate you for the confidence you have reposed in us as government, to achieving our dream of an all-inclusive quality basic education. “I must admit that your farreaching donations and services will

in no little way bring excitement and fulfilment to the lives of many children who otherwise might have been deprived of basic education owing to varying reasons and circumstances beyond their control.�

He explained that the state “is not resting on its oars as it aspires to be a 21st century economy. This government has trained over 9,000 public primary school teachers and school managers to achieve better learning outcomes in the classroom through the introduction of the EKOEXCEL Programme.�

He also disclosed that in demonstration of his administration’s

commitment to improving the standard of education, N140 billion proposed budget for education in 2021 implies that Lagos is spending the highest per capita per child on education.

The Commissioner for Education, Mrs. Folashade Adefisayo berated the failure of the social system, which led to the menace of hoodlum in our society.

She called on all to join hands with the government to tackle the out-of-school children menace in the state adding that every child deserves access to quality and qualitative education.

Abiodun Asks FG to Grant Special Status to Ogun State

Why Magu Failed to Appear Before Code of Conduct Bureau

Kayode Fasua in Abeokuta

Tobi Soniyi

Ogun State Governor, Mr. Dapo Abiodun yesterday argued that his state, being the country’s largest industrial hub, deserved a special status in terms of consideration for road construction and reconstruction.

Abiodun hinged his argument on the deplorable state of federal roads across the state and called on the federal government to come to the state’s assistance.

He made this request at a stakeholders’ meeting held at Ogere along the Lagos-Ibadan Expressway, noting that roads in Ogun State had become deplorable owing to the activities of heavy-duty trucks.

Among others, the Minister of Works and Housing, Mr. Babatunde

Fashola (SAN) attended the stakeholders’ meeting convened on the reconstruction of the Lagos-Ibadan expressway.

At the meeting, Abiodun said: “It is just right to say that Ogun State deserves a special status in terms of consideration for road constructions. I believe this is doable. “It is not just for Ogun State; it is for the common good of all Nigerians and continued development of our great nation,� the governor justified his call for special status.

Abiodun observed that the longest part of the Lagos-Ibadan expressway, the longest road that leads to busiest air and sea ports in the country, “is in the state and has over time deteriorated and

become a nightmare to motorists and other road users. “We are particularly delighted that the Lagos-Ibadan expressway is receiving federal government’s attention. Indeed, in the last two or three weeks, this road has been a nightmare. At certain points, I have had to personally intervene by directing traffic. “Experience on this road diminishes the fact that this road leads to the busiest sea and air ports in Nigeria. We bear the most of the hardship on this road because the longest stretch of the road is in Ogun State. “Whether the stretch from Lagos to Ibadan or the stretch that leads to the East-West Road of Sagamu-Benin expressway, the longest stretch lies in Ogun State�, he noted.

The suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, could not appear before the Code of Conduct Bureau (CCB) because he did not have access to the documents the bureau asked him to produce before it.

A source at the bureau told THISDAY that the bureau received from Magu, explaining that the documents he was asked to produce were in the custody of the Presidential Investigation Committee on the Alleged Mismanagement of EFCC Federal Government Recovered Assets and Finances, from May 2015 – May 2020 headed by a retired

president of the Court of Appeal, Justice Ayo Salami.

Magu told the bureau that since his suspension from office as Acting Chairman of EFCC, he had been denied access to his office and that some of the documents the bureau demanded from him were in the office.

The source said that Magu asked the bureau for an extension of time to appear before it.

According to the source, Magu also attached a letter he wrote to the Justice Salami’s panel to direct the EFCC to allow him access to his office to take the documents requested from him by the bureau.

Magu, it was learnt HD earlier requested the Acting EFCC chairman to allow him access to the

office but was told that such access would only be granted upon instruction from the Salami panel.

The CCB had summoned Magu to appear before a panel on November 17, at its headquarters in Abuja, on an alleged breach of conduct in public office.

The anti-graft agency’s invite was contained via a letter dated November 2 signed by the CCB director for intelligence, investigation and monitoring.

The commission asked Magu to come along with acknowledgement slips of all asset declaration forms since joining the public service.

Magu was also asked to present copies of his appointment letter, acceptance, a record of service and payslips of landed documents.

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NEWSXTRA Destiny: How Gbajabiamila’s Security Detail Killed My Brother ‡ Insists family seeks justice for deceased vendor Tobi Soniyi Destiny Cbukwu-Okereke, the younger brother of a newspaper vendor, Ifeanyichukwu Okereke, killed by one of the security details of the Speaker of the House of Representatives, Femi Gbajabiamila has given the police 48 hours to begin the prosecution of his killer.

In a letter to the Commissioner of Police for the Federal Capital Territory, through the Inspector General of Police, Destiny said he was there when the incident happened, faulting the account

gave by Gbajabiamila of how the vendor was killed.

He said that the claim by Gbajabiamila that his convoy was obstructed was not true.

Destiny and other members of the deceased family threatened to explore all legal remedies if the killer of Ifeanyichukwu was not brought to justice within 48 working hours.

A copy of the letter written

by Chidiebere Nwachukwu, the counsel to Destiny and the entire family of Chukwu-Okereke, was

obtained by THISDAY. He said that his brother was shot thrice, two shots in the head and one on his arm at close range.

He stated as follows: “That the deceased who is a fan and supporter of the Speaker of the Nigerian House of Representative on November 19, upon sighting

the motorcade of the Hon. Speaker, together with other newspaper vendors around the said traffic light waved cheerfully in their usual manner in solidarity to the motorcade as the said motorcade was passing. “That the speaker upon sighting

their enthusiasm and support, stopped his vehicle and gifted monies totaling about N9,00.00 to the said supporters led by the deceased. “That the deceased was about to continue his business when one of the security guards attached to the Hon. Speaker opened fire on

him and shot him publicly, thrice, two shots in the head and one on his arm at close range and left him to bleed to death on the road. “That the said motorcade drove off from the scene immediately after the incident without any remorse or offer for medical help to the victim.

Magu: N’Delta Group Demands Proper Vetting for Next EFCC Chair Emmanuel Addeh in Abuja A non-partisan group, the Global Forum for Accountability and Transparency, yesterday said that following the unpalatable exit of the suspended Economic and Financial Crimes Commission (EFCC) Chairman, Mr Ibrahim Magu, the next head of the body must be properly vetted by the authorities.

Convener of the Niger Delta group, Mr Joseph Ambakederimo, in a statement in Abuja, however insisted that the plan to remove the police as the head of the commission was suspicious, adding that rather, what the EFCC needs is a patriotic and fine officer with unimpeachable record of service.

The body alleged that there was an attempt to hijack the activities of the anti-graft institution, arguing that making a police officer head the organisation wasn’t the problem, but the process of selection which it said is riddled with irregularities. “Looking back at the appointment process and the shenanigans that greeted the nomination of Ibrahim Magu to the headship of the anti graft agency, would leave no one in doubt that certain forces were at play.

“They worked surreptitiously to undermine the foremost anti graft agency in the country. Ibrahim Magu was the reason the commission floundered rudderlessly for the past five years. “ Some have even alleged that Magu did not have the requisite capability to steer that agency partly because he had never held a position or even headed a unit in the police force talk more of a gigantic establishment that is saddled with the responsibility to tackle the high and mighty in the society. “This is further strengthened when viewed side by side with the report that emanated from the Department of State Services (DSS) then which many believed touched on the competency of Ibrahim Magu,� the group argued.

It stated that if the DSS report describing Magu’s confirmation as a “liability� was implemented , the shameful occurrence of the last few months would not have arisen.

The Niger Delta group argued that the recommendation by the Justice Ayo Salami panel that only a non police personnel should henceforth preside over the activities of the EFCC must be rejected by the president.

Parliamentary Staff Threaten to Cripple 36 State Assemblies Adedayo Akinwale in Abuja The Parliamentary Staff Association of Nigeria (PASAN) has threatened to shut down activities in 36 States Houses of Assembly to ensure the full implementation of financial autonomy for state legislatures.

This was contained in a communiquĂŠ issued after the 18th National Executive Council (NEC) of the association in Abuja recently.

The communique was signed by its National President, Muhammed Usman and its Secretary General, Mr. D. Y. Suleiman.

The communique noted that the full implementation of the content of the Executive Order 10 would not only enhance industrial harmony in the state legislatures across Nigeria, but would also enhance the growth of democracy in Nigeria.

It, however, lamented that the speakers of State Houses of Assembly were foot-dragging on the joint suit instituted against the implementation of the Executive Order 10 by the Nigeria Governors’ Forum.

It added that the lukewarm attitude of the ‘Speakers Forum’ over the governor’s suit was worrisome.

The communique stated: “That National Executive Council (NEC) also expressed her disappointment over the lukewarm attitudes of the Speakers’ Forum over the joint suit at the court challenging the financial autonomy of the state legislature. “That NEC is displeased with the delay in the implementation of financial autonomy of the state legislatures therefore shall commence the process of industrial action immediately to ensure its implementation.� “That NEC condemned in its entirety the attempt by the Management of National Institute of Legislative and Democratic Studies (NILDS) to proscribe the PASAN in the institute, and the subsequent suspension of her members from service, therefore, request the immediate reversal of these anti-labour actions or face industrial action from the association.

IN ALAKE’S HONOUR . .

L-R: Iyalode of Egbaland, Chief Alaba Lawson; Osi-Bobaguwa of Egbaland, Otunba Yemi Lawal; Deputy Governor of Ogun State, Mrs. Noimot Salako-Oyedele; Agura of Gbagura, Oba Saburee Babajide Bakre and Erelu Osi-Bobaguwa of Egbaland, Yeye Ayotunde Lawal, at the 15th coronation anniversary of Alake of Egbaland in Abeokuta, Ogun State........yesterday

Deltans in Diaspora Pledge to Boost Local Economy Omon-Julius Onabu in Asaba Nigerian Citizens from Delta State living abroad have vowed to mobilize financial resources in form of foreign direct investment (FDI) to the state to complement the developmental efforts of the state government.

Chairman and Chief Executive Officer of Delta Business Platform and Covener, Delta State Diaspora Business Conference, Dr Jude Osakwe, stated this while briefing newsmen yesterday in Asaba.

Osakwe, who was represented by a director in the Delta Diaspora Platform, Mr Norbert Osakwe, said that Delta State Diaspora Business Conference was an annual event and a collaborative initiative with the Delta State Government aimed at complementing efforts of Governor Ifeanyi Okowa in line

with his ‘Greater Delta’ agenda towards improving livelihoods across the state.

He said that the objective of Diaspora business forum was “to create better organized channels for Deltans abroad to invest in the economy of Delta State�, in terms of capital, intellectual resources, capacity and networks.

He said that they were committed to repositioning the Delta State Innovation Hub as a vehicle to tap into the funds that global tech venture capital (VC) firms were investing in Nigeria annually.

Osakwe lamented the fact that “of the 38 Nigerian start-ups that received this external funding of $747 million in 2019, none was based in Delta State�.

He said: “In 2018, Nigerians in the Diaspora remitted US$25 billion home, representing 6.1%

of the country’s GDP. This figure translates to 83% of the Federal Government budget in 2018, and 11 times the foreign direct investment (FDI) flows into the country in the same period. “Nigeria’s Diaspora remittance inflows amounted to seven times the US$3.4 billion foreign aid received in 2017.

We want to bring as much of this extensive capital as possible for investment into the economy of Delta State. “On average, we estimate very conservatively that, out of this US$25 billion that comes into the entire country, about US$1billion (about N472 billion) accrues to Delta State annually. “This figure compares very favourably with the internally generated revenue (IGR) of Delta State over the past five years: 2015

(N40.80 billion), 2016 (N44.06), 2017 (51.88 billion), 2018 (58.44 billion) and 2019 (N64.68 billion).�

The group said that Diaspora Deltans “promote key sectors of Delta State economy� in several areas including agriculture and agribusiness, upstream and downstream of oil and gas industry, light manufacturing, electricity and power generation, maritime and aviation as well as education and real estate.

At the briefing was the Delta State Commissioner for Information, Mr Charles Aniagwu, who enumerated the benefits of the state government’s overseas economic and industrial outreaches to the state job creation programmes, saying it was time the quiet economic contribution of Deltans abroad was put in public domain.

We’ll Fix Civil Service Meet Peoples’ Expectations, Says Obaseki Edo State Governor, Mr. Godwin Obaseki yesterday said his administration would work assiduously to fix the state’s civil service in order to meet the expectations of Edo people for quality and efficient service delivery.

The governor made the submission during the Thanksgiving Service held in honour of the state’s Head of Service, Mr. Anthony Okungbowa, at the Divine Sisters Brothers Prayer Ministry, in Benin City, the state capital.

The governor said his administration had been unequivocal in its mandate to reform the civil service.

He said: “The people expect us to tar more roads, improve the school system from basic education through to the Senior Secondary School level. They expect better healthcare. All these can only be possible when the civil service is efficient. “The appointment of the Head of Service, Anthony Okungbowa, was a deliberate choice. We knew that we had to renew the civil service. That was why we made that choice to have him as the Head of Service. “When we were making the decision on his appointment, I knew in my mind that it

was a historic decision. Today, Okungbowa happens to be the youngest Head of Service ever appointed in Edo State.

The governor expressed appreciation to the General Overseer of Divine Sisters Brothers Prayer Ministry, Mrs. Christy Izekor, for being the spiritual guide to the head of service. “You have to pray for him. The church should continue to pray for him. I have gone through my own issues and battles and God has seen me through. He is going to go through major issues and challenges. This is because we are asking a young man to come and

transform a very old system. “There will be a lot of resistance.

There will be a lot of anger. People will ask ‘why are things different in your time?’ They will not realize that the world has changed,�

Obaseki said.

In his remarks, Okungbowa commended the governor for his support, noting that he would make sure to surpass the governor’s expectations. “Mr. Governor has always given us his support. That is the most important thing. With the support of your boss, there is no limit to what you can do,� he said.

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NEWSXTRA

#EndSARS Protest: UK Parliament Deliberates Sanction Request against Nigeria Monday

‡ Laments rights violations during #EndSARS protest Gboyega Akinsanmi The United Kingdom Parliament has said it will deliberate on a petition by some groups and individuals, requesting the parliament to implement sanctions against the Nigerian Government and officials for alleged human rights violations during the #EndSARS protest and Lekki shootings.

The parliament has, also, lamented violence that erupted as the aftermath of the Lekki incidents, noting that it is awaiting the outcome of investigations by the federal and state governments into reports of police brutality.

It made this disclosure in a response to a petition signed by over 220,118 individuals in the United Kingdom, requesting the UK Government to sanction Nigeria for alleged violations of human rights.

The reply, which was signed

by Foreign, Commonwealth & Development Office, was obtained from the official website of the parliament – https://petition. parliament.uk/petitions/554150.

In its reply to the petition, the parliament said the UK Government “is deeply concerned by violence during recent protests in Nigeria, which tragically claimed lives. Our thoughts are with the families of all those affected.�

Specifically, the reply read in part: “Parliament will debate this petition. Parliament will debate this petition on November 23 2020.

You will be able to watch online on the UK Parliament YouTube channel. “On July 6, the British Government established the Global Human Rights sanctions regime by laying regulations in Parliament under the Sanctions and Anti-Money Laundering Act 2018. “The Foreign Secretary set out in full the scope of the UK’s new Global Human Rights sanctions regime. He announced the first tranche of designations, as well as the Government’s approach to future designations. “This sanctions regime will give the UK a powerful new tool to hold to account those involved in serious human rights violations or abuses. The sanctions regime is not intended to target individual countries. “It will allow for sanctions to be imposed on individuals and entities involved in serious human rights violations or abuses around the world. “We will continue to consider potential designations under the Global Human Rights sanctions regime. It is longstanding practice not to speculate on future sanctions designations as to do so could reduce the impact of the designations. The UK Government will keep all evidence and potential listings under close review,� the parliament said in its reply.

Consequently, it noted that the government should explore using the new sanctions regime that

Electoral Reforms: PDP Sets Up C’ttee, to Partner CSOs Chuks Okocha in Abuja As an aftermath of its National Executive Committee (NEC) meeting, the Peoples Democratic Party (PDP) has set up a committee of elders to work towards ensuring effective and efficient electoral reforms before the next general election.

To that extent, the party said it would partner civil society groups to work with it and its members at the National Assembly to reform the electoral act.

This was disclosed to newsmen by the National Publicity Secretary of the PDP, Kola Ologbondiyan, who claimed that electoral reforms were one of the high points of the PDP NEC meeting. “For us in the PDP, we believe that until there are improvements in our electoral laws, our elections are not going to be credible and this is going to endanger our democracy. “So, the PDP has resolved to constitute a committee that will work in tandem with National Assembly members elected on the platform of our party and other interested parties as well to form a broad-based committee that will work with our parliamentarians. “We need to engage the civil societies on electoral reforms, because as a party, we have seen that the issue of electoral frauds, abuses

and hijack of electoral process by the APC can only be redeemed if every Nigerian agree in unison that we must amend the rules. “This was why the PDP has agreed to work in concert with CSOs, faith-based organisations and community leaders to entrench a law in the system in which the people can truly elect their representatives,� Ologbondiyan said.

On the membership of the reforms committee, he said, “We haven’t decided that yet. The NWC will work on the modalities and present it. We will act on behalf of NEC, work on the modalities of membership and work on the areas of interest concerning the party and the nation. As soon as we constitute the committee, we will make it known�.

He also announced that the PDP would from the first quarter of next year embark on electronic membership drive.

His words: “We are also going on electronic membership drive as you know even INEC is contemplating going for electronic election. If you look at the election that was held in Edo State, where results were transferred from the units, the base of the election to the collation centre, that negated and ruled out the tendency of hoodlums to hijack results and change them.

allows individuals and entities that violate human rights around the world to be targeted, to impose sanctions on members of the Nigerian government and police force involved in any human rights abuses.

The reply detailed different interventions that the UK Government had initiated to direct the attention of the federal government to cases of human rights violations during the EndSARS protest

It said the Foreign Secretary issued a statement on October 21 calling for an end to the violence and for the Nigerian Government to urgently investigate reports of brutality by its security forces and hold those responsible to account.

It added that the Minister for Africa tweeted on October 16, noting people’s democratic and peaceful calls for reforms, and again on October 21, encouraging the Nigerian authorities to restore peace and address concerns over

brutality towards civilians.

It observed that the minister “reiterated these messages when he spoke to Foreign Minister Onyeama on October 23. The British High Commissioner in Abuja has also raised the protests with representatives of the Nigerian Government and will continue to do so. “We welcome President Buhari’s decision to disband the Federal Special Anti-Robbery Squad (FSARS) and the establish-

ment of judicial panels of inquiry to investigate alleged incidents of brutality by the security services. “They must investigate all incidents, including in Lagos, fully. The Minister for Africa tweeted on October 29 stressing the importance of the police and military cooperation with the panels. He raised this, and the need for the panels to urgently start investigations, when he spoke to the Governor of Lagos state on November 11.

SECURING LIVES...

L-R:. Coordinator of Defence Media Operations, Maj.-Gen. John Eneche and G.O.C 1 Div. Nigerian Army, Maj.-Gen. Usman Muhammed, during media tour of Abuja-Kaduna High Way to ascertain the security situation of the road ...yesterday

Niger Delta Seeks Ownership, Control of Trust Funds Host communities of the Niger Delta have demanded ownership and control of the trust funds proposed in the Petroleum Industry Bill (PIB) for the development of oil-bearing areas.

The communities also demanded an increase in the contribution of 2.5 percent of the Operating Expenditure (OPEX) of companies to 5 percent even though they expressed concerns that the proposed funding was subject to manipulation and discretion by the entities.

These demands were revealed in a communiquĂŠ issued at the end of a host community (HostCom) colloquium organised by

Order Paper Advocacy Initiative in Owerri, the Imo State capital during the week.

Representatives of the Pan Niger Delta Forum (PANDEF), Federation of Ethnic Nationalities of Niger Delta (FENND), and Stakeholder Democracy Network (SDN), among others, endorsed the communiquĂŠ.

In the main, the communique noted that the PIB failed to address the fate of impacted communities, especially those that suffer the consequences of gas flares and other environmental damages and demanded that this lacuna be provided for in the passage of the bill.

While stating that the PIB “should be designed as a tool for

resolving development challenges rather than as palliatives to host communities,� the stakeholders said the PIB “must clearly define what constitutes “host� and “impacted� communities, rather than leave that to the discretion of the companies.�

On the question of ownership, the stakeholders said the Bill “should make it compulsory for members of the Board of Trustees of the Trust to come from host communities and give communities a stronger role in the selection process, financial management and administrative procedures of operating the Trusts.�

They also said “Needs assess-

ment, monitoring and evaluation for projects and programmes should be jointly conducted by both the communities and companies,� and that the PIB “should clearly set out timelines for implementation of projects and penalties for defaulting companies.�

They further said the PIB should “adopt clearly defined incentive-based measures for protection of oil and gas assets rather than current punitive measures that leave wide room for abuse,� and that “the contribution of companies to the trust fund should be increased from 2.5% to 5% of OPEX.�

Akeredolu’s Deputy Visits Fayose, Mulls Return to PDP Victor Ogunje in Ado Ekiti Ondo State Deputy Governor, Mr. Agboola Ajayi yesterday visited a former Ekiti State Governor, Mr. Ayodele Fayose in his Afao Ekiti country home.

Ajayi’s visit fuelled speculation that the deputy governor had perfected a plan to return to the Peoples Democratic Party (APC) after he defected to the Zenith Labour Party to pursue his governorship aspiration.

This was contained in a statement

by Fayose’s Media Aide, Lere Olayinka in which he quoted Ajayi as commending Fayose for his credible leadership in the Southwest and the country as a whole.

Ajayi had been moving in and out of different political parties in the last six months. On June 21, the deputy governor defected to the PDP due to irreconcilable differences with his principal, Mr. Rotimi Akeredolu.

After failing to clinch the PDP governorship ticket in the state, the deputy governor again abandoned the PDP for the Zenith Labour Party on August 14 in his bid to actualise his governorship aspiration.

In the October 10 governorship election, Ajayi came far behind Akeredolu, the candidate of All Progressives Congress and Mr. Eyitayo Jegede, the PDP candidate in the contest.

But in his statement yesterday, the deputy governor described Fayose

as a clear minded personality, who would say his mind not minding whose ox is gored.

Ajayi, as contained in Olayinka’s statement, said: “I have come to Afao Ekiti at this hour of the day to wish a friend, brother and leader a happy birthday at 60. “Fayose is one person I have great respect for and I will continue to relate with him because he is not someone who will not tell you A when he means B. His yes is yes and when he says no, he means no,�

Ajayi said.

Responding to Ajayi’s goodwill message, Fayose observed that it was important for the deputy governor “to put the past behind; return to PDP and

join hands with other leaders in the state to rebuild the party.�

Fayose said there was no denying the fact that Ajayi is a force to be reckoned with in the politics of Ondo State, adding that the deputy governor would thrive better politically in a mainstream and liberal political party like the PDP. The former governor said: “What I can tell you like a brother is that the past should be put behind you and the future should be focused on realistically. “The best option before you now is to return to the PDP and I am encouraging you to give it a consideration because you need the party and the party too needs a strong political character like you,�

Fayose said.

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž VEMBER 22, 2020

69

Still on the Leadership Problem with Nigeria Reuben Abati

T

he challenge of leadership in Nigeria has been a subject of repeated fascination for scholars, observers and the Nigerian citizenry. How can a country so blessed with human and natural resources fail so woefully in translating its assets into great achievement for the benefit of its own people? Why is Nigeria the way it is: a country that is now associated with poverty, insecurity, corruption and a despondent and frustrated citizenry? What happened to this same country that was once described as “the giant of Africa? How did the giant become a cripple? What should our leaders have done that they failed to do? There is a consensus in this regard that the “problem with Nigeria is leadership� as Professor Chinua Achebe put it. In Nigeria As I see It: Reflections on the Challenge of Leadership - an impressive 400-page book written by Dr. Uma O. Eleazu, now made available to the public on the occasion of his 90th birthday, the dynamics of this problem is further analysed and interrogated.

Dr Eleazu’s thesis can be simply summarized in two words: “Leadership matters�. He argues that “..without leaders with integrity and understanding of human nature, Nigeria cannot make it as a nation�. He echoes the same view once expressed by Professor Wole Soyinka that his generation belongs to a “wasted generation�. Dr. Eleazu should know.

He has been actively involved in Nigeria’s development process for more than six decades.

He was a polling officer in the 1954 general elections. In 1955, he joined the Federal Civil Service.

In 1976, he was appointed the head of the National Policy Development Centre – a Federal Government Think Tank which focussed on policy research, policy analysis, and policy review and offered ideas to enrich public administration and service delivery.

The NPDC would later transform into the National Institute for Policy and Strategic Studies, where Dr. Eleazu served as pioneer Director of Research.

He has also been involved in the private sector as Spokesman for the Manufacturers Association of Nigeria (MAN). He was also a member of the Constitution Drafting Committee that produced the 1979 Constitution, and later the Constitutional Debate Co-ordinating Committee set up by the Abdusalami Abubakar administration which led to the 1999 Constitution. From 1990-1992, Dr Eleazu served as Chairman, Board of Directors, Pipelines and Products Marketing Company (PPMC). Essentially a scholar and a teacher, Dr. Eleazu has written over the years on the Nigerian experience and issues in public administration. But perhaps his latest book, Nigeria As I See It: Reflections on the Challenge of Leadership may well be considered his most authoritative contribution so far. He writes with scholarly rigour, but also as a practical man of experience, a direct participant in many areas of national life, who looks back at 90 and asks: what went wrong?

The book is dedicated to his children and “and to all Nigerians born after 1960.� In a total of 15 Chapters, and accompanying commentaries and appendices, he takes us on a historical journey from the pre-colonial period to the present. He combines scholarly analysis, with personal narratives and brings the book to a close with reflections about the future of Nigeria. It is a gripping account of the failure of Nigeria.

The British who created an artificial union in 1900, that would later become Nigeria in 1914 were interested in their own economic agenda, not necessarily to provide leadership for the conquered colonies.

They introduced a separatist development policy which affected the country’s future development and the politics of integration. I am often uncomfortable with the tendency to blame the British for Nigeria’s problems: the tendency to blame “the outsider� usually comes across as an excuse for the failure of the postcolonial leaders to provide good leadership. But in this book, Dr. Eleazu provides more than enough evidence to establish Britain’s contribution to the underdevelopment of Nigeria, from the problematic 1952/53 census, to the opportunistic romance between the British and Northern leaders, and the role of the British during the Nigerian civil war, driven by their selfish interest in Nigeria’s crude oil resources. In addition to his own analysis, the author provides in Appendix I, an eye-opening piece titled “Who Killed Biafra? by Stanley Diamond (pp. 335 -358).

But of course, Dr. Eleazu does not blame the British for all that is wrong with Nigerian leadership. Even before independence, beginning with thee 1951 Ibadan Conference, it was already clear that the leaders of a future independent Nigeria had different ideas about the kind of country they wanted either with regard to the nature of the Federation, or national integration. Nigerians have always talked about democracy, but it is a different kind of democracy that we run: a democracy that is driven by selfish interests, ethnicity, religion, personality clashes, corruption and the worship of money. Leaders transform societies, but Nigeria’s problem has been the emergence over the years of transactional leaders, who would manipulate any situation for their own purposes. In the process, they fail to do the right thing at the right time, and with

such laissez faire attitude to governance, they create crisis and chaos. They violate the social contract. They prioritise nepotism, mediocrity and opportunism. The people are short-changed and over the years, from one administration after another, the people have learnt not to trust their leaders. After experiencing failure and the greed of the leadership, the average Nigerian has been socialized to have low expectations. The real tragedy is that Nigerians have learnt to accept the “abnormal� as normal.

Dr. Eleazu focusses on specific and instructive moments in Nigerian history to trace the roots of the problem. These include constitutional changes and the emergence of political parties in the First Republic, the performance of the political elite during the Action Group Crisis 1961/62; the Census Crisis of 1962/63, the 1964 Federal elections, the demonization of Igbos, the 1965 Western Regional Elections, the role played by Chief Obafemi Awolowo, the Sardauna - Ahmadu Bello, Dr Nnamdi Azikiwe, Tafawa Balewa and other political actors of the period, and the eventual blow-out that resulted in the January 15 coup and the counter-coup of July 1966. Was the January 15, 1966 coup an Igbo coup?

Was it a coup of five Majors? What happened at Aburi?

Throughout the book, Dr. Eleazu takes on many assumptions about certain episodes in Nigerian history and provides hard evidence to debunk certain misconceptions. He is convinced that the course of Nigerian history could have been different if the new political elite that took over power from the colonialists had been more nationalistic, and committed to the goal of creating a united nation. Many readers will find his account of military incursion into Nigerian politics and the emergence of “a class of politicians in army uniform� particularly engaging, but even more so, his analysis of the civil war, and how a military/bureaucratic complex conspired to impose a regime of kleptocracy that underdeveloped Nigeria. There are many high points in the book, but perhaps most memorable would be the author’s careful profiling and assessment of every Nigerian leader, from 1960 to 2020. Chapter 10 is specially devoted to President Buhari under the title: “Buhari’s Second Coming: A Political Retrogression?�

He thinks it is. In Chapter 12, he assesses how every

leader since 1960 has performed in terms of what should be a social contract with the Nigerian people, but which sadly is non-existent.

Dr. Eleazu is blunt, fearless and attentive to details. He says it as he sees it. I guess it is perfectly safe for a 90-year old author to characterize Nigerian leaders, in very strong language, as corrupt, mediocre and incompetent. A former leader is said to be a benevolent despot.

Another is accused of being an Islamic Jihadist. Others are described as looters of the treasury, election riggers and promoters of institutionalized criminality. In Africa, it is part of the prerogative of old age to tell the younger generation blunt truths. Dr. Eleazu does precisely that. He may attract not a little controversy though.

The author pays particular attention to how corruption has ruined the moral fabric of the Nigerian society at all levels. He also examines elite conspiracy and the amorality of Nigerian politics.

He provides amusing personal narratives in this regard. As a member of a Federal Government delegation to Europe in 1975, he was given an ESTACODE that was the equivalent of his salary for six months as an Assistant Professor in the United States. The trip to Europe was for two weeks only!

When he returned to the country, he thought it was best to give proper account and return the balance to the government. The government official to whom he reported told him to go and put the money in his bank account and “wait for the next instruction which never came�! (p. 184). As Chairman of the Board of the PPMC, some members of the Board approached him to discuss how they could use their position to make some money for themselves. He refused. They went ahead anyway, and accused him of not being “a good team player�. The graft and inefficiency in Nigeria’s oil and gas sector started long ago. But the author’s most shocking reference was when he decided to go into politics and run as a Presidential candidate on the platform of the Social Democratic Party in 1991. His manifesto: “Why I want to serve Nigeria as President� is included in the book as Appendix 3 (pp. 381 – 389).

He discovered to his chagrin that nobody was interested in his lofty ideas about how to move Nigeria forward. Nigerian politics is driven by money and rituals, godfathers and money bags, and oligarchs. He resolved he would only play by the rules.

He was not ready to genuflect to any Godfather. He was not prepared to bribe any voter; instead he sold his credentials to the people. Well one day, someone in the crowd asked him: “is it your credential that my wife will take to market?� That was in 1991. Twenty-nine years later, the situation remains the same in Nigerian politics. In fact, it is worse.

Nonetheless, the author may have begun the book on a note of frustration, he ends it on an optimistic note. He believes that a Nigerian rebirth is possible.

His dream is that someday Nigeria will produce leaders who have a sense of direction, and get Nigeria “out of the present quagmire.� He says he knows a number of young Nigerians: “they are better educated, more versatile in experience, blessed with youthful energy, and most importantly, they have the privilege of drawing invaluable lessons from where my generation stumbled. They can make Project Nigeria a success; and it is on them that I now anchor my dreams.� (p. 334).

What do we say to that? That new generation Dr. Eleazu dreams about can only emerge if Nigeria addresses the many limitations that make it impossible for institutions to work, and for good men to thrive. He offers a number of suggestions in Chapter 11, but will anyone listen? In any case, Nigerian leaders do not read books.

Dr. Eleazu’s Nigeria As I see It: Reflections on the Challenge of Leadership should be read by everyone who is interested in the Nigerian story, and the need for change and progress. The book is judgemental but it is detailed, well-written, and educative, as the author teaches theory, history, and practice. And whereas the book may appear short on recommendations, the author provides much food for thought that should further enrich the conversation about how to save Nigeria.

This book should be compulsory reading for scholars, students, and the general public and particularly young Nigerians who have been denied the opportunity to know the history of their country by policy makers who treat history and ideas as irrelevant.

70

THISDAY, THE SATURDAY NEWSPAPER ˾ NOVEMBER 22, 2020

with ChidiAmuta e-mail:chidi.amuta@gmail.com

ENGAGEMENTS

Africa Failing Again

I

n the decade leading up to 2010- 2015, global discourse on Africa’s development prospects adopted a new mantra: Africa Rising. Major influential media echoed it and the message went to major investors, increasing the interest and appetite of Africa’s traditional partners while luring new ones to discover what used to be the ‘dark continent’ in every sense.

The dominant narrative in Western investment and economic development circles then was a positive prognosis to the effect that the ‘dark continent’ was at last on the march to rapid growth and development. The prospects looked unusually bright. Investors and bankers were ready to bet on new and bolder risks on Africa. In 2010, the Mckinsey Global Institute (MGI) described Africa’s economic outlook as “lions on the move”. Airline passenger traffic to African hubs increased as investors, businessmen and leisure seekers trooped to African destinations.

Commodity prices were on the rise as the new economies in China, Vietnam and India were aggressively demanding raw materials to feed industries that would later ship finished goods back to Africa. Oil and other mineral prices were on the increase. With oil topping the $100 mark, countries like Angola, Gabon, Sudan and Nigeria were on an earning and spending blitz.

Both statistics and major economic indices were all in favour of renascent Africa. The note of optimism defied the pessimism of centuries of muted racist undertones. By 2008, most African economies were projected to grow at an average of 7% in the subsequent decade. Some economies like Uganda, Ethiopia and Ghana achieved even above those projections. In some cases, economic growth defied political miscarriages especially the bad state of democracy in some countries. Average GDP was 5.4% from 2000-2010. This added $78bn annually to Africa’s GDP. There was an argument then that one way to accelerate and maximize Africa’s rise and development was to help in the creation, empowerment and sustenance of an African middle class. Increasing urbanization, large scale infrastructure projects and the increasing digitization through widespread mobile telephony and internet access would increase the tempo of this process.

Part of the optimistic note was the result of diversification in Africa’s economic profile. Between 2010 and 2015, the service sector contributed an average of 49% of Africa’s GDP, up from 43% in the preceding decade. The manufacturing sector has however remained low at an average of 4.0% while utilities and construction generated 23% of Africa’s growth.

The emergence of infrastructure development as a major sector of economic development in Africa has contributed to the optimism about Africa’s economic prospects. Massive infrastructure projects have been embarked upon by many African countries. Growth in this sector bhas been fired mostly by the arrival of credits from China to finance major infrastructure projects such as railroads and rolling stock, roads, ridges, dams, power plants and housing projects.

Countries like Angola, Ethiopia, Nigeria, Kenya, Sudan and Zambia have witnessed an upsurge of this China powered infrastructure blitz with the attendant controversies around the transparency of Chinese credit in relation to a new debt surge among African countries. But construction as a sector of the economies of these countries has witnessed an upsurge with the collateral benefit of youth employment and growth in wage based employment and living standards.

The prevalence of a young population helped to propel optimism about Africa’s future. Ayoung population correlates with a growing active labour force in a world where most national populations are ageing. Africa has the world’s largest working age population of 1.1 billion. Getting this youth population to convert from demographic statistics to an economic force is of course a function of level of investment and the momentum of development initiatives that can translate into jobs for the youth. Despite some modest success in job creation initiatives in some countries, youth unemployment has recently emerged as a major challenge of most African countries.

The emergence of new technologies increased the optimism about Africa’s prospects. Cell phone use and internet penetration helped in the empowerment of hitherto powerless and excluded segments of most African populations. It has hastened the democratization pace and in some cases facilitated financial inclusion and empowerment of hitherto excluded urban poor and rural farming communities.

Most importantly, there was significant progress in the political sphere in the number of African countries that were holding relatively free and fair elections. Similarly, an increasing number of countries were witnessing smooth transitions from one elected government to another. Ghana, Nigeria, Ethiopia, Rwanda, Kenya and South Africa had fairly credible working democracies. The degree of accountability of these governments remained doubtful but by and large, Africa could hold up some of these democracies as its contributions to a world that had largely embraced elective democracy.

Suddenly, however, the last five years have witnessed a deceleration of Africa’s economic growth. Growth has generally slowed down to an average of 3.3% in the decade of 2010-2015. The deceleration is the result of some major recent factors in two sets of countries.

First, there has been a slowdown in oil producing economies as a result of the downturn in the global fortunes of oil as new energy sources replace hydrocarbons as a source of energy. This has been aggravated by increased energy independence by the United States whose shale technology has propelled into a net producer, thereby reducing its dependence on imported oil.

Secondly, the difficulties in North African countries still struggling with the aftermath of the Arab Spring and its attendant dislocations.

For instance, Egypt, Libya and Tunisia did not grow at all between

Abiy Ahmed, Prime Minister of Ethopia 2010 and 2015, a drastic reversal and debilitating slump from the record of 4.8% growth in the preceding decade. The growth rate in the oil economies of Angola, Algeria, Nigeria and Sudan fell to 4% from 7.1%. Productivity in both sets of economies declined from 1.7% to 0.6% in the Arab Spring economies and from 2.6% to 0.4% in the oil economies. Apart from these two sets of economies, the rest of Africa maintained a modest rate of growth at 4.4% annually thereby generally dousing the wild optimism of the previous one and half decades.

In the very recent period, the Covid-19 pandemic has inflicted a new wave of economic difficulty in the path of major African economies. Earlier projections on the impact of the pandemic on Africa was more dire than the outcome we currently face. It was estimated that African countries would be decimated by the pandemic owing to their deplorable healthcare facilities, general poverty and the environmental challenges in the overcrowded urban slums of Lagos, Nairobi, Johannesburg and Cairo.

Although Covid-19 has not quite decimated African populations to the degree of the United States, Latin America and even Europe to the extent anticipated by the WHO and other models, the initial lockdown of African economies negatively impacted these economies on a massive scale. Small and medium businesses either ceased to exist or were so stressed that they literally have to restart with maximum difficulty. Family incomes disappeared in most places while job losses assumed an epidemic dimension. The resulting shrinkage in GDP growth has further reversed the slight optimism of the pre-pandemic period. The two leading economies of Nigeria and South Africa are projected to grow at no more than 2.5% apiece for the next two years.

At best, South Africa could regain traction to a maximum of 4.0% by 2021-2022.

In a bid to bridge the revenue gaps created by the covid-19 crisis, the more vulnerable African economies have resorted to draconian taxes and increased borrowing, thereby plunging back into the era of the debt burden. Increased debt service as a percentage of most African budgets has once again reopened the debate on foreign loans and their negative impact on whatever positive growth prospects Africa held two decades ago.

Over and above the purely unavoidable economic emergencies of recent times, there is an increasing and frightening plunge back into the political uncertainty and mismanagement that once drowned Africa’s growth and development prospects in negative deluge. Political instability, resurgent military coups, avoidable civil wars, extreme internal insecurity, corruption, terrorism and the return of politics of bad manners have begun to threaten the economic potentials of Africa once again. We can showcase the emerging threats to Africa’s growth and development with the recent developments in Ethiopia, Zambia, Nigeria, Mali and Cote d’Ivoire.

Up to a few months back, Ethiopia was touted as one of the bright spots on the continent. From a famine ravaged country in the 1980s and an impoverished ill- fated socialist laboratory, Ethiopia emerged in the last two decades as an example of enlightened liberal democracy with sound economic policies. The country’s GDP grew at an average of 5.87% from 1981 to 2019. By 1986, it reached an all time high of 13.9% from a record low of -11.10% in 1984. Just prior to the covid-19 pandemic, Ethiopia had slowed down to a modest 6.1% in 2019/2020.

At the time of this writing, Ethiopia is embroiled in an avoidable insurrectional fight in its Tigray region. Allegations of ethnic cleansing in the region has pushed the country to the brinks of an avoidable civil war that is likely to wipe off the gains of the past decades. Suddenly, Prime Minister, Abiy Ahmed, who just earned a Nobel Prize for Peace is about to squander his reputation and drag his country into a bloody war that is likely to frighten away investors and the goodwill of the last few decades.

By 2008 when the developed world was reeling under the burden of the global economic meltdown, Zambia was in the forefront of

African economies that fueled the optimism about the continent.

Today, a combination of corruption, mismanagement and the specter of autocracy have joined forces to cast doubts on Zambia’s future.

Zambia ditched one party rule and experimentation with African socialism in the 1990s. By 2012, it had witnessed a decade of spectacular economic growth which placed it in the front row of African countries on which the world predicated its optimism about Africa’s development and growth prospects. International lenders scrambled to buy Zambia’s debts or lend to the country, leading to a huge debt stack which could only be sustained on a continuation of responsible and accountable governance. Today, Zambia has hit the record of being one of the first African countries to default on its debts. Agood deal of Zambia’s problem is the result of the political rascality of its current president, Edgar Lungu. For this president, the enthronement of a virtual autocracy has taken precedence over matters of economic management and public accountability. He has casually clamped his opponents into jail after shabby trials. This rough politics has scared off prospective investors because Lungu has been known to take over mines belonging to foreign investors. Zambia’s debt has shot up to 120% while growth is a humble 1.4% in 2019. The president has fired a Central Bank governor who challenged his arbitrary decision to print more money to meet the needs of a tanking economy.

Nigeria which is Africa’s largest economy and easily one of its most resilient has in recent times come under intense economic pressure.

Nigeria’s ailment is a concoction of crass incompetence, economic mismanagement, endemic corruption and a form of democracy that is too costly to run, leaving little resources for development.

Worse still, the covid-19 pandemic and the accompanying slump in international oil prices has put immense pressure on an economy that many Nigerians fear is over burdened by external debts.

Arecent youth spring of protests has stressed an already stretched system to the limit. Nigeria has also had the unenviable lot of hosting the Boko Haram insurgency, a vicious Islamist jihadist terrorist revolt that has levied war on the North Eastern region of the country for the better part of a decade. This virtual war situation has been worsened by a spate of internal security challenges that has adversely affected economic activities especially farming in the agriculture dependent Northern half of the country.

Anger against a rogue police outfit (SARS) recently sparked a spontaneous nationwide youth spring with unfamiliar unanimity and a clear message. Pent up anger and desperation has in turn overwhelmed the apparatus of law and order with waves of arson, looting and vandalism that swept through major urban centres. The wrong of police brutality felt by the youth has reignited a dying sense of community and common outrage across the nation.

On its part, President Buhari’s government has been caught somewhat shocked and nearly clueless. Saddled with low oil prices and an economy that is suffocating under massive corruption and miserable economic management, Mr. Buhari has resorted to a slew of taxes and tariff increases on petroleum, value added tax and power. Inflation has climbed to 14.2%. Latest figures indicate that the Nigerian economy shrank by -3.62% in the third quarter of 2020, thus entering recession territory for the second time in the last five years.

The unease that followed the recent youth protests remain as increased poverty and hardship has injected tension into the psychology of a population that now boasts an estimated 100 million plus abhectly poor people, easily the largest single national concentration of poor people in the world.

In the partial desert country of Mali, on the 18th of August, 2020. widespread protests and civil unrest over worsening economic conditions and bad governance produced widespread discontent.

The spectre of growing insecurity from continuing threats from the Tuareg Islamists in the north in the country worsened a bad political situation.

Another set of mutineers from a wing of the Malian army from a base in the small town of Kati invaded the capital city of Bamako and stormed the presidential palace. They arrested and detained the President Ibrahim Boubacar Keita and the Prime Minister Boubou Cisse with key government officials. The government was forced to resign.

The protesting mobs jubilated in the streets.Acoup was completed with Col.Assimi Goita emerging as head of the new junta. Both the political opposition and the leaders of the civil unrest have welcomed the coup.

International condemnation and sanctions followed. Mali was suspended from theAfrican Union while ECOWAS imposed a land and air blockade of the country. The United States suspended military training and assistance. ECOWAS sent in a negotiating team headed by former Nigerian President, Goodluck Jonathan.

The new coup in Mali is a replay of a familiarAfrican script. Insecurity has bred bad politics. Political instability has in turn opened the door for ambitious soldiers to topple democracy at a bad time and in a dangerous place. The sad truth is that fragile democracies cannot in and of themselves protect themselves from the forces that bad politics and atrocious governance unleash.

Not far from Mali, recent contentious elections in Cote d’Ivoire have generated violence and unease in that hitherto stable country. In typical African political tradition, incumbent president Quatarra extended his tenure to an illegal third terms and pushed in an election that only he could win. Oppostion anger and mass unrest have followed.

Bad habits die hard.As economic distress increases in the world, the likelihood thatAfrica’s descent into age old dysfunctions will increase. It will be a tragedy if the upsurge in bad news aroundAfrica spreads around the continent. That possibility can only turn the hope of economic growth and development into a nightmare for millions of Africans most of them young people.

SUNDAY NOVEMBER 22, 2020 • T H I S D AY

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Sunday November 22, 2020

TR

UT H

& RE A S O

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Price: N400

MISSILE

Aisha Yesufu on #ENDSARS “The dead will not die again. They have already died. The next to be killed are those of us that are alive.

WHO’S NEXT? #EndSars #FreeNorth” – Human Rights Activist, Aisha Yesufu on why Nigeria must stop extra judicial killings by the police.

SIMONKOLAWOLE SIMONKOLAWOLELIVE!

simon.kolawole@thisdaylive.com, sms: 0805 500 1961

Help! Crude Oil is Dying!

D

o you remember when your mechanic advised you not to buy a car with automatic transmission? If you recall, he said manual cars were the best — easier and cheaper to maintain. What he didn’t tell you was that technology had injured him and left him behind. He had thought the world was going to run on manual transmission forever and did not sharpen his skills to adapt to the new reality. The world had become more sophisticated. His fear was that if you bought an automatic car and everybody else started doing so, he would soon be out of job. If he was wise, he would have started improving and adapting his skills to the new reality. He wanted the world to wait for him.

On that note, I want us to discuss, today, the situation Nigeria is about to find itself. Last week, the UK government announced that it would ban petrol and diesel cars from 2030.

Several countries are taking action against the use of fossil fuels and opting for green energy.

In place of engines powered by petrol and diesel, they are opting for electric cars and reusable fuels. France, Germany, Ireland and the Netherlands have set their own deadlines at 2040. Norway, ironically an oil-producing country, is targeting 2025 — just five years away.

China, Japan, South Korea, Iceland, Denmark, Sweden, Spain, Portugal and Canada are all targeting zero-emission in the next dozen years.

While we are at, the National Bureau of Statistics (NBS) on Saturday released Nigeria’s GDP figures for the third quarter of 2020. We are now officially in a recession. You know the biggest contributor to our misfortune? You guessed right: the oil sector. With oil production reduced as a result of quota cuts by OPEC+, and further worsened by the COVID-19 pandemic that shrank global crude consumption, the sector contracted by 13.98 percent. That, in summary, shows how desperately our fortune as a nation is tied to crude oil. It is not as if things are about to get better as the advanced world starts adopting measures to reduce reliance on crude oil for their energy needs.

But in my dear Nigeria, we are still stuck in the crude age. Like the mechanic, we are telling ourselves that there are no viable alternatives to crude oil. We are telling ourselves that even if the advanced world cuts down on fossil fuels, the developing nations would be late to the party and a market would still be there for us — forgetting that more countries are discovering oil and producing for local consumption, thereby reducing the volume of their imports. Even if the world continues to guzzle oil endlessly, another danger is the glut. With more countries producing oil, the market will be flooded and oversupply is not good for the price. More countries will become self-sufficient.

What does this mean for Nigeria? It is so very simple. We don’t need any economist to explain this to us. We know the technical details: if consumption of petrol and diesel drops, then the need for crude oil is highly likely to drop.

We also know the economic implications: if the demand for crude oil drops, oil prices will inevitably dip and Nigeria’s FX revenue will fall since crude oil export is the main thing that brings in the dollars. In which case, as our FX earnings fall, naira will fall: devaluation is the natural consequence. Government will

NNPC GMD, Mele Kyari habitually struggle to meet its expenditure needs.

We will be in danger of stockpiling unpaid salaries, abandoned projects and debts. That is a high possibility.

This is alarmist, you say. But I am not saying anything new. In fact, 2030 is already here.

Look at the state of things since COVID-19 infected global economy and hit the demand for oil, crashing the prices. That is a foretaste of what global demand will look like when cars powered by fossil fuels are gone and/ or there is an oil glut. Oil that once sold for $147/barrel (I’m not lying — it happened in July 2008) and went for an average of $100 from 2010 to 2014 is now being peddled at $40 or so by Nigeria. And this does not tell the full story. With Nigeria practically hawking the oil and begging for buyers, we are selling at a discount. Remember, also, that it costs us up to $20 to produce a barrel!

Unfortunately, we are not behaving as if we are aware of the dangers ahead. We carry on as if we have trillions of dollars stashed somewhere and we can keep spending recklessly, especially on wasteful expenditure. We think all the talk about the bleak future of oil is some extended exaggeration, meant to intimidate the faint-hearted. There is nothing in our collective behaviour to suggest that we are aware that this oil thing may reach a plateau. We also do not appear to be aware that oil companies are cutting back on new investments and this has grave implications for the future. We just keep going on and on and on and on, unbothered by any care in the world.

Do we sincerely think crude oil will sell for $100 again? Maybe, but we shouldn’t be too sure.

Do we sincerely think that in the next 10 years, crude oil consumption will keep soaring and global demand will remain high? Maybe, but we shouldn’t be too sure. Do we sincerely think that the bans on petrol-powered vehicles will not impact oil prices? Maybe, but we shouldn’t be too sure. Do we sincerely think Nigeria can survive — economically and without social unrest — the falling revenue? Do we sincerely think Nigeria is a rich country that should be able to subsidise petrol and electricity, double minimum wage and still have plenty to spare for infrastructure? Then we are dreaming.

The good news is that we can live and prosper without oil revenue, contrary to all the things we have been telling ourselves for decades. Some

of the richest countries in the world are not into oil — they use their brains, their intellectual property, to rake in the billions from exports.

This may be a long shot for Nigeria given the state of our education sector and the lack of infrastructure that can inspire innovation and industry, but there is still good news: we can begin to think seriously, plan intelligently and devotedly implement policies that will help us develop export products to earn the needed FX to keep us alive in international trade so that 2030 does not meet us stark naked.

In blessing, Nigeria is blessed. But decades of oil booms, usually mildly punctuated by busts, turned us into a bunch of lazy, rentseeking community. We are paying the price finally. Sustained low oil prices have exposed us badly and we are just managing to hang in there. For decades, we abandoned, or toyed with, all the things we should have done to transform the economy, to hone our skills, to develop the human capital, to build the necessary infrastructure, to add value to our agriculture, to industrialise, to become a major exporter of manufactured goods, etc. We told ourselves oil is all the oxygen we need. Oil is the solution to all problems. Now we are where we are.

I am not unaware of the fact that various governments, over the years, have been emphasising the need to diversify the sources of public revenues. There have been policies and plans and programmes. However, we cannot, in all conscience, give ourselves a pass mark. Each time we appear to be serious with developing productive sectors, we end up shooting ourselves in foot with reversals, summersaults and poor thinking. We can say we have made progress in cement and rice but we have not even scratched the surface of what we have and what we can do to free Nigeria from the slavery of crude oil. We are ever planning but prayerfully waiting for the next oil boom.

As a reminder, we made roughly $12 billion from exporting our almighty oil in 2019. That accounted for over 90 percent of our FX earnings and 50 percent of government revenue for the whole year. By contrast, Indonesia earned $10 billion from exporting palm oil alone in 2019 — and that was just about 6 percent of its export earnings. The country earned over $183 billion from exporting animal/vegetable fats, oils, waxes, machinery, footwear, iron, steel, vehicles, gems, precious metals as well as mineral fuels.

We are here worshipping crude oil. We have no idea of how we are going to finance our budgets if oil prices remain low. Well, we will borrow. But how do we pay back?

Ultimately, we need to come to the realisation that crude oil is dying. It may never die; in fact, it will never die; but what value are we going to be getting from it in another 10-20 years?

The crude oil glory is fading. We need help to stop living in denial. We have to stop behaving like the manual mechanic who wants to adjust reality to suit his fossilised skills. Let’s accept the fact that the world is moving on. Let’s begin to have reasonable discussions around how every tier of government can see the bigger picture. A country that is spending 97 percent of its revenue to service debts is in intensive care unit. A country that is fervently praying for a spike in the price of just one commodity in order to break even is living on borrowed time. It’s time to start taking ourselves more seriously.

And Four Other Things…

YOUTH ARISE On Saturday, I gave the keynote speech at the Citizens Conference organised by the Millennials Active Citizenship Advocacy Africa (MACAA), a youth-led CSO working assiduously to build the Nigerian youth for today and tomorrow. It was quite gratifying sharing platform with great minds such as Hon Bolaji Abdullahi, Hon Shina Peller, Mr Seyi Awolowo and Mr Deyemi Okanlawon. My key word was that despite the tough situation the youth have found themselves, they have to make lemonade from the lemon if they are to turn their ideas into opportunities. We generally agreed that we cannot “entrepreneur our way out of underdevelopment” (as Mr Seun Awogbenle, the convener, put it).

Government, at all levels, MUST provide the right environment for enterprise. Fact.

FGN VS CNN The Federal Government of Nigeria is locking horns with CNN over the report on the Lekki shootings of October 20, with Alhaji Lai Mohammed, the minister of information, threatening sanctions against the American cable TV network. I find this embarrassing but, well, it is Lai Mohammed. Although CNN did not allege or prove massacre of #EndSARS protesters in the report, it said that the troops used live bullets and also shot into the crowd.

The Nigerian army insists its soldiers used blank bullets and only shot into the air. On Saturday, the army added a twist by saying it went to Lekki with live bullets as well. We must get to the root of this matter by all means.

Definitely.

UMAHI AND 2023 The defection of Governor David Umahi of Ebonyi state to the All Progressives Congress (APC) is generating ripples. The Peoples Democratic Party (PDP), his former home, is furious. I have a different opinion. If the southeast politicians are keen on having a realistic shot at the presidency in 2023, they need to broaden their strategy — and that means not putting all their eggs in one basket. Having said that, I think APC remains a disliked party in the south-east and I doubt Umahi’s defection would change the situation significantly.

Nevertheless, south-east leaders who really desire that the zone should produce the next president need to think outside the box.

Strategic.

BANDITS AND RAPISTS North-western Nigeria has been in the firm grip of bandits and kidnappers (otherwise known as “Fulani herdsmen” or “jihadists” when they strike in southern Nigeria) for the past few weeks. Abuja-Kaduna road has been under siege. Young girls were kidnapped and molested in Katsina; their parents only secured their release after paying a ransom.

University students were kidnapped. Even police officers were kidnapped. It is even reported that farmers now pay a “fee” to bandits before they can harvest their produce.

I have no way of knowing what the federal government is doing to secure Nigerians, but whatever it is, my conclusion is that it is not working. Terrifying.

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