WEDNESDAY 5TH JANUARY 2022

Emefiele: Extensive Structural Reform Needed to Accelerate Economic Growth Petrol subsidy unsustainable, MPC member tells FG

Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has reiterated the need for extensive structural reform this year to fast-track the country’s economic

growth. Emefiele stated this in his personal comment at the last Monetary Policy Committee (MPC) meeting, a copy of which was posted yesterday on CBN’s website.

Driven by base-year effect, the National Bureau of Statistics

(NBS) had revealed that Nigeria’s Gross Domestic Product (GDP) grew by 4.03 per cent in the third quarter (Q3) of 2021, compared with 5. 01 per cent recorded in the preceding quarter. And the federal government had listed the

removal of fuel subsidy, which had been described as a major drag on the economy, as one of the reforms it expected to carry out this year.

However, in the MPC communiqué, Emefiele stressed, “Extensive

structural reforms are also needed to ensure that long-run paths of growth surpass potential.”

The CBN governor noted that as business sentiments brightened, following the various supply-side supports by the apex bank and

orderly implementation of macroeconomic policies, he expected domestic fragility to diminish with benign knock-on effects on welfare and livelihood.

Continued on page 10

80 Months After Taking Office, Buhari Appoints Salami Chief Economic Adviser... Page 5 Wednesday 5 January, 2022 Vol 26. No 9765. Price: N250

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Nigeria to Lose over $1bn to Under-production as OPEC Raises Oil Quota Producers’ cartel agrees to pump 400,000 additional barrels in February Oil Prices Hit $80 per barrel Emmanuel Addeh in Abuja At a conservative price of $70 per barrel, Nigeria might lose as much as $1.085 billion in February as a result of its likely inability to meet its production

oil quota which was increased to 1.701 million barrels per day by the Organisation of Petroleum Exporting Countries (OPEC) yesterday.

On the average, Nigeria has managed to pump just over

1.2 million per day in the last few months, thereby losing the desperately needed foreign exchange (forex) by the country.

With the aforementioned production volume, the country was projected to lose about

500,000 barrels per day next month, which would amount to about 15.5 million barrels for the month.

When multiplied with a pessimistic oil price of $70, it would give about $1.085 billion.

Latest figures from the Nigerian Upstream Regulatory Commission (NURPC), for instance, indicated that the country was only able to pump 1.23 million barrels per day in August, 1.24 million barrels per

day in September, 1.22 million barrels per day in October and 1.27 million barrels per day in November.

But with the increase of Continued on page 10

In Major Test of Govs’Powers as Chief Security Officers, Police Defy Orders from Sanwo-Olu Claim they were acting on instructions from higher authorities Lagos governor stands his ground, prevails; invites parties to a meeting today Chiemelie Ezeobi and Segun James in Lagos In yet another cruel stab to the heart of Nigeria’s federalism, the power and position of the Lagos State governor, Mr. Babajide Sanwo-Olu, and by implication, all state governors in the country as chief security officers of their states, were challenged yesterday by some very junior police officers at the Magodo Phase II Estate in Lagos. The officers, led by one Chief Superintendent of Police (CSP) Bimbola Oyewole, bluntly refused the governor's directive to vacate the estate, where they had purportedly gone to effect a court order.

Sanwo-Olu had requested the policemen to vacate the area in order to de-escalate a potentially volatile situation following a Supreme Court judgement on the ownership of some of the lands on which the estate was Continued on page 10

DE-ESCALATING TENSION IN MAGODO...

Lagos State Governor, Mr. Babajide Sanwo-Olu (middle) addressing residents of Magodo Phase II protesting against possession of their properties, With him: Commissioner for Information & Strategy, Mr. Gbenga Omotoso, the Attorney General/Commissioner for Justice, Mr. Moyosore Onigbanjo (SAN) and Commissioner for Physical Planning & Urban Development, Dr. Idris Salako (right),... yesterday

Ibadan High Chiefs Fault Ex-Oyo AG on Appointment of New Olubadan... Page 8

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

IMO STAKEHOLDERS/LUNCHEON MEETING...

L-R: Speaker, Imo State House of Assembly, Rt. Hon. Kennedy Ibe; Imo State Deputy Governor, Prof. Placid Njoku; Governor Hope Uzodinma; Founder, Zinox Computers and Chairman of occasion, Chief Leo-Stan Eke, and Imo State APC Chairman, MacDonald Ebere, during the Imo Stakeholders/Luncheon meeting held at Government House Owerri...yesterday

80 Months After Taking Office, Buhari Appoints Salami Chief Economic Adviser Deji Elumoye in Abuja President Muhammadu Buhari has appointed Dr. Doyin Salami as his Chief Economic Adviser exactly 80 months after he was first elected in May 2015.

The appointment comes less than 16 months to the end of the president’s second term and also marks the first time a Chief Economic Adviser would be appointed since Buhari assumed office in 2015. The president had for long resisted calls to appoint a Chief Economic Adviser who would be charged with formulating, coordinating and monitoring the implementing of his economic policies.

According to a statement yesterday by the Media Adviser to the President, Mr. Femi Adesina, Salami was until his latest appointment the Chairman of the Presidential Economic Advisory Council (PEAC).

A 1989 doctorate degree graduate in Economics of Queen Mary College, University of London, Salami, 59, is Managing Director and Head Markets Practice at KAINOS Edge Consulting Limited, and member of the Adjunct Faculty at the Lagos Business School (LBS), Pan-Atlantic University, where he recently at-

tained the rank of Senior Fellow/ Associate Professor.

The Chief Economic Adviser to the President is expected to address all issues on the domestic economy and present views on them to the president; closely monitor national and international developments, trends and develop appropriate policy responses.

He is also to develop and recommend to the president, national economic policies to foster macro-economic stability, promote growth, create jobs, and eradicate poverty, among others.

Salami had few months ago warned that Nigeria’s current public debt stock was unsustainable and had also lamented that with debt service-to-revenue ratio at 97.7 per cent (January to May 2021), the country’s public debt profile was unmaintainable.

He had also estimated that the country’s debt stock was to hit about N54 trillion when Ways and Means as well as the Asset Management Corporation of Nigeria (AMCON) liabilities and projected fiscal deficit for 2021 were considered.

To improve revenue, therefore, the economist had said the government must block leakages, unlock opportunities at state level, improve tax efficiency

and coverage, and sell-off dead assets, which are estimated at $900 billion.

Salami had stated, “While overall expenditure has grown by 102 per cent, from N5 trillion to N10.1 trillion between 2015 and 2020, revenue increased by just 15 per cent.

“This subdued government

The management of Ossiomo Power in Benin City said it has commissioned a 40MW Independent Power Plant (IPP) dedicated to providing power to the Benin Industrial and Enterprise Park and local communities in Ologbo, Ikpoba Okha Local Government Area of Edo State.

Managing Director, Ossiomo Power, Dr. Uwa Igiehon, who stated this in Benin City, capital of the state, noted that in conjunction with the Edo State Government, the power plant would provide 24/7 power to Ologbo and Obayantor communities in the area.

He said the development

was a testament to Governor Godwin Obaseki’s pledge to light up Edo State.

The Benin Enterprise Park (BEP) is a 997-hectare, mixeduse, development designed to accommodate light industries and residential zones.

The BEP would be equipped with a state-of-the-art civil infrastructure comprising graded plots, roads, power, water, communications, drainage, sewage treatment plant, effluent treatment plant, stormwater drains, rainwater harvesting, and firefighting facilities, among others.

It would also include specialised infrastructure, such as quality control labs, quality certification centres, raw material storage, and

Salami had also said FDI inflow into Nigeria had revolved around $1 billion in the last five years, adding that FDI inflow in the second quarter of 2021 was $78 million, even lower than Q2 2020.

He had said the country’s investment climate was being constrained by macroeconomic instability, policy inconsistency,

inadequate infrastructure, insecurity, as well as tough business climate.

With about 12 months to the next general elections and 2022 being an electioneering year, some analysts have argued that the new Chief Economic Adviser might not have the opportunity to make the desired impact.

Air Force Announces Appointment of New Branch Chiefs, Air Officers’ Commanding Kingsley Nwezeh in Abuja

The Nigerian Air Force yesterday announced the appointment of New Branch Chiefs and Air Officers Commanding (AOCs) and other senior officers.

A statement issued by NAF headquarters stated that the Chief of Air Staff, Air Marshal Oladayo Amao, approved the appointment.

The statement signed by NAF Spokesman, Air Commodore Edward Gabkwet, said the appointment was a routine exercise intended to reinvigorate the service for greater performance, enhanced productivity, operational efficiency, and effective service

Ossiom Power Inaugurates 40M IPP for Edo Industrial Park Adibe Emenyonu in Benin City

revenue is as a result of constraints around domestic production/ investment; low tax base, as tax revenue to GDP still revolves around seven per cent; limited effort to explore and unlock opportunities for revenue generation at state level; over-centralisation and issues relating to efficiency in revenue collection.”

other warehousing and logistics services.

According to Igiehon, “The 40MW plant was tested on 29th of December and is fully operational. At the moment, the plant is providing electricity to Ologbo and Obayantor communities in the area.”

It would be recalled that Ologbo community had been severed from the Benin Electricity Distribution Company (BEDC) for the past four years, which had thrown the community into darkness.

Igiehon said the initiative had brought succour to members of Ologbo community who now benefit from the power supply from the new power plant.

delivery.

The newly appointed branch chiefs were Air Vice Marshal (AVM) Ayoola Jolasinmi, erstwhile Air Officer Commanding (AOC); Air Training Command (ATC), Kaduna, who is now the Chief of Defence Policy and Plans (CDPP) at Defence Headquarters (DHQ), former Chief of Aircraft Engineering at Headquarters NAF (HQ NAF); AVM Musa Muktar moves to DHQ as Chief of Defence Transformation and Innovation, (CDTI); former AOC Logistics Command (LC), Ikeja, AVM Charles Ohwo, is now the Chief of Policy and Plans (COPP), HQ NAF, Abuja.

Others were AVM Jackson Yusuf, former AOC Special Operations Command (SOC), Bauchi, who is now appointed Chief of Training and Operations (CTOP), HQ NAF, while AVM Abubakar Liman heads the Air Intelligence Branch as the Chief of Air Intelligence, HQ NAF. Also appointed were AVM Emmanuel Wonah, former Managing Director NAF Investments Limited (NAFIL) as Chief of Aircraft Engineering (CAcE), HQ NAF, AVM Raimi Salami is now redeployed as the Chief of Communications Information Systems (CCIS) HQ NAF, while AVM Olatokunbo Adesanya has been appointed as Chief of Logistics (CLOG), HQ NAF. Furthermore, AVM Aliyu Bello, erstwhile AOC Mobility Command (MC), Yenagoa is now the Chief of Standards and Evaluation (COSE), HQ NAF, AVM Nelson Calmday is to take over as the Chief of Administration (COA), HQ NAF

and AVM Paul Jemitola is now the Air Secretary, HQ NAF. In the same vein, former Commander 081 Pay and Accounting Group, Ikeja, AVM John Ochomma is now the Chief of Accounts and Budget (CAB), HQ NAF, AVM Idi Lubo, erstwhile AOC Tactical Air Command (TAC) proceeds to Lagos as Commandant Armed Forces Resettlement Centre (AFRC), AVM Anthony Tuwase takes over as the Commandant, Armed Forces Command and Staff College (AFCSC), Jaji while former AOC Ground Training Command (GTC), Enugu, AVM Mohammed Yakubu is the new Commandant of Air Force Institute of Technology (AFIT), Kaduna just as AVM Sayo Olatunde is now the Commandant Air Force War College (AFWC), Makurdi.

The newly appointed AOCs were AVM Abraham Adole, AOC TAC, Makurdi, AVM Tajudeen Yusuf, AOC SOC, Bauchi, AVM Iboro Etukudo, AOC MC, Yenagoa, AVM Nanjul Kumzhi, AOC ATC, Kaduna, while the former Director of Public Relations and Information, NAF, AVM Ibikunle Daramola is now the AOC, GTC, Enugu and AVM Hassan Abubakar who is now the AOC LC, Ikeja.

Also appointed were AVM Emmanuel Eze as the Group Managing Director NAF Holding Company, Air Commodore Esen Efanga now the Commander Air Task Force Operation Hadin Kai while Group Captain Dogari Apyeyak is now the Air Component Commander, Operation Thunder Strike.

Lawan Mourns Tofa, Says He Was an Astute Politician Deji Elumoye in Abuja

President of the Senate, Dr Ahmad Lawan, has sent his condolences to the family of late candidate of the defunct National Republican Convention (NRC) in the 1993 presidential election, Alhaji Bashir Othman Tofa, who died on Monday.

Lawan, in a condolence message yesterday, commiserated with the government and people of Kano State over the demise of the late politician.

He also condoled with Tofa's friends and political associates.

The Senate President said the death of Tofa, who he described as an astute politician, was a great loss to the country.

"My condolences to the family of Alhaji Bashir Tofa and to the Government and people of Kano State.

"Alhaji Tofa left his imprints as an astute politician, businessman and industrialist.

"His death is a great loss not just to the people of Kano State but to the entire country" Lawan prayed Allah to forgive his sins, accept his soul in Aljannah firdausi and console those that he left behind.

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APPOINTED...

L-R: Minister of State, Federal Ministry of Health, Dr. Olorunnimbe Mamora; Medical Director, Federal Medical Center, Birnin-Kudu, Jigawa State, Dr Adamu Atterwahmie and Permanent Secretary, Federal Ministry of Health, Mahmuda Mamman, during the presentation of letter of appointment to Atterwahmie in Abuja...recently

Leveraging Judicial Pronouncement, FG Set to Deploy Tucano Fighter Jets against Terrorists Bandits now qualified to be called terrorists, says Malami Kingsley Nwezeh and Alex Enumah in Abuja By judicial declaration, the federal government, yesterday, said it was ready to deploy the 12 Super Tucano fighter jets against armed bandits wreaking havoc in the North-western part of the country.

By international convention and best practices captured in the purchase agreements reached with the United States govern-

ment, the fighter jets could only be deployed, when there is evidence that a group to which they were to deployed against were declared terrorists and constituted threat to national security.

A legal backing by way of judicial pronouncement and a government gazette were also part of the requirements.

Following conditions attached to the acquisition of the fighter jet, the Nigeria military had been reluctant to deploy the

aircraft outside the North-East, the epicenter of the Boko Haram terrorists activities.

Specifically, the United States from where the aircrafts were purchased, had warned that the aircrafts should not be used outside tackling the Boko Haram terrorists group.

However, Justice Taiwo Taiwo of the Federal High Court in Abuja, had on November 26, 2021, granted an ex parte application by the federal government for Yan

Bindiga (Hausa word for gunmen) and Yan Ta’adda (Hausa word for terrorists) to be declared as terrorists.

The court had asked the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, to publish the order in two national dailies and to publish the order in the official gazette.

Thus, speaking on the NTA Good Morning Nigeria Show, Malami, said the armed bandits,

Dangote Cement, MTN, Airtel, BUA Cement, Nestle, Zenith, Others Contributed 90% to N22.3trn Market Cap in 2021 Kayode Tokede Dangote Cement Plc and 14 other highly capitalised stocks on the Nigerian Exchange Limited (NGX) contributed 90.2 per cent or N20.10 trillion to overall N22.3 trillion market capitalisation in 2021.

The other highly capitalised stocks were MTN Nigeria Plc, Airtel Africa Plc, BUA cement, Nestle Nigeria Plc, Zenith Bank Plc, Guaranty Trust Holdings Plc, Stanbic IBTC Holdings Plc and FBN Holdings Plc. It also included Nigerian Breweries Plc, Lafarge Africa Plc, Seplat, Access Bank Plc, United Bank for Africa Plc, Ecobank Transitional Incorporated (ETI) and Dangote Sugar Plc. On the other hand, other listed companies on the NGX contributed 9.84 per cent or N2.19trillion to overall market capitalisation in the year under review.

Dangote cement and MTN Nigeria were the only companies with over N4 trilllion in market capitalisation, while Airtel Africa crossed N3.5trillion in market capitalisation threshold in 2021.

The breakdown by THISDAY revealed that, Dangote Cement’s market capitalisation gained N4.37 trillion in 2021 when it stock price gained nearly five per cent to close at N257 from N244.90 it opened for trading.

MTN Nigeria’s market capitalisation closed 2021 at N4.01trillion in 2021 following a 16 per cent gain in stock to

N197 per share. Airtel Africa also gained 12 per cent in stock price to drive market capitalisation to N3.59trillion in 2021.

Also, while Zenith Bank’s market capitalisation stood at N789.622 billion as at December 31, 2021, that of GT Holdco was N765,211; Stanbic – N466.452 billion and FBN Holdings – N409.206 billion.

Capital market analyst, Mr. Rotimi Fakeyejo, explained that that a one per cent gain or decline in Dangote Cement and MTN Nigeria stock price affects the capital market movement in a day.

He added that the fundamentals of both companies attracted foreign investors in taking position.

Also, the Chief economist/ head, Investment Research of PanAfrican Capital Holdings, Mr. Moses Ojo noted that foreign investors’ participation in the trading of Dangote Cement, MTN Nigeria and Airtel Africa stocks drive price appreciation.

He was quick to add that impressive corporate earnings and dividend pay-out to shareholders contributed to these companies' price appreciation in 2021.

Dangote cement in nine months of 2021 recorded 49.10 per cent increase in profit before tax to N405.49billion, while MTN recorded N220.31billion profit, an increase of 52.74per cent.

According to Ojo: “The three companies are the largest companies by market capitalisation on the NGX. If these companies record one per cent gain, it will

affect the direction of the stock market.

“The financial results of these companies have been impressive despite foreign and domestic challenges. Despite reporting high operating cost, the likes of MTN and Airtel Africa have maintained robust fundamentals.”

However, BUA Cement market capitalisation dropped to N2.27 trillion, while Nestle Nigeria closed 2021 with a market capitalisation of N1.23 trillion.

Zenith bank leads the bank-

ing sector in terms of market capitalisation, followed by GTCO. The stock price of Zenith bank gained one per cent to close 2021 at N25.15, while GTCO dropped by 20 per cent from N32.35 to N 26.00.

Others are Nigerian Breweries - N399.85billion; Lafarge Africa, N385.78billion - Seplat, N382.49billion; Access Bank - N330.57 billion; UBA - N275.32 billion; ETI - N215.15billion and Dangote sugar, N211.36billion in market capitalisation.

had by their activities, become a threat to the nation and, therefore, satisfied the requirements to be declared terrorists.

"Our assessment took into consideration that they are causing a major threat to the territorial peaceful co-existence and causing a major threat to lives with weapons, the idea then came about that indeed they (bandits) have satisfied the criteria of being declared terrorists within the context of the law so that whatever military hardware at the disposal of the federal government can best be used against them within the context of the international convention and within the context of the law.

"The gazetting of a court order or judgement is a process but what matters fundamentally within the context of the international convention is the judicial declaration and that has been obtained, the court has declared bandits, kidnappers, cattle rustlers as terrorists.

"So, with or without the gazette, what gives effect to such declaration is a judicial pronouncement but the gazette is a mere formality and it has been on and I believe within a matter of days, it will

be concluded," he said.

The AGF affirmed that the declaration of bandits as terrorists had cleared the way for the “deployment and usage” of Super Tucano fighter jets against them.

His words: “One thing I can tell you is any international conventional demands associated with the usage of the Super Tucano has been obtained, which is a judicial pronouncement and declaration of bandits, cattle rustlers and kidnappers as terrorists.

“Government has a responsibility to act but within the context of acting, you are equally expected to operate within the confines of international best practices associated with engagement and one of such best practices is that you can only use maximum force on groups, individuals that are declared terrorists and that is where the application of the Terrorism Act comes in place.

"Whatever military hardware you acquire, there are limits within the context of the international convention as to how it can be used, when it can be used, and against who it can be used and that is how the idea of looking at the activities of the bandits, cattle rustlers, kidnappers come into being," he stated.

NAFDAC Approves ABUAD COVID-19 Herbal Drug The National Agency for Food and Drug Administration and Control (NAFDAC) has approved a herbal drug that was produced by Afe Babalola University, Ado-Ekiti (ABUAD) for the treatment of COVID-19.

The founder of the University, Chief Afe Babalola disclosed this yesterday, in Ado-Ekiti, Ekiti State, at a ceremony commemorating the 12th anniversary of the establishment of ABUAD. According to him, the drug had been tested on 19 COVID-19 patients and all recovered.

He said the number of those cured by the drug had been on the increase since the drug was approved.

He said the research department of the university over the years had made meaningful discoveries aimed at solving

the socio-economic problems of the country.

Babalola, a Senior Advocate of Nigeria (SAN) and Educationist, spoke on Tuesday in Ado-Ekiti, the Ekiti state capital, at a ceremony commemorating the 12th anniversary of the establishment of ABUAD. The Senior Advocate of Nigeria explained: “I am happy that I conceived this university 12 years ago and since then, we have been going from strength to strength, making exploits in all our endeavors. Our vision is to make this place a great institution in the university education in the country in teaching, research and community service.

“I can confirm to you today that our herbal drug produced through extensive research by our team of researchers has

healed about 19 patients who contracted covid-19 pandemic.

They were healed perfectly less than five days of usage, which tells you the level of our research in ABUAD.” Commenting on the 2023 general elections, he said conducting the election with the present 1999 constitution could lead to the collapse of the nation.

“We must avoid recycling the old failed leaders in the governance of this country. Any mistake in electing a new set of leaders under the present constitution will ruin Nigeria completely.

“The simple way out is for the National Assembly to pass a resolution adopting the 1960/1963 constitution with necessary amendments such as having in place six regions and one-house parliament,” he added.

He expressed concern about the increasing proliferation of universities in Nigeria, saying the situation if not stopped by National University Commission (NUC) and the ministry of education, would have adverse effect on the nation’s education sector.

“The ministry of education and NUC should exercise their powers to checkmate this in the interest of quality education in the country because what these ambitious members of the national assembly have done amounts to usurpation and abuse of power.

“Every attempt must be made by all stakeholders to put a lid on the establishment of political universities that hardly survive those who put them in place after they are out of power otherwise, there will be a crash in the quality of private universities,” he added.

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REMEMBERING FALLEN SOLDIERS...

L-R: Commander, 9 Brigade, Nigerian Army Ikeja Cantonment, Brigadier-General Lander Saraso; Lagos Deputy Governor, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu; Chairman, Nigerian Legion, Lagos State Chapter, Rtd. Col. Samuel Akande; Assistant Inspector General of Police, Mr. Hakeem Odumosu and Air Vice Marshal, Nigerian Air Force, AVM Adeniran Ademuwagun, during the launch of the Y2022 Armed Forces Remembrance Day Emblem, at the Lagos House, Alausa, Ikeja,... yesterday

Ibadan High Chiefs Fault Ex-Oyo AG on Appointment of New Olubadan Say letter self-serving Makinde: New Olubadan’ll sustain predecessor’s legacy of peace Kemi Olaitan in Ibadan The last may not have been heard on the crisis over the appointment of new Olubadan of Ibadanland, as the Otun Olubadan of Ibadanland, High Chief Lekan Balogun, and other members of the Olubadanin-Council, yesterday faulted the letter written by a former Attorney General (AG) and Commissioner of Justice in Oyo State, Mr. Michael Lana, in which he highlighted impediments to the ascension to the Olubadan stool.

This is just as Oyo State Governor, 'Seyi Makinde, yesterday, commended the peaceful reign of the late Olubadan of Ibadanland, His Imperial Majesty, Oba Saliu Adetunji, Aje Oguguniso 1, adding that he was confident his successor would sustain his legacy of peace.

Makinde, who was represented by the Deputy Chief of Staff, Abdulmojeed Mogbonjubola, at the third Day Special Interfaith and Prayer Service, held at the Popoyemoja Palace of the late Olubadan, assured the people that the incoming Olubadan would continue in the same peaceful fashion.

But the High Chiefs in the letter addressed to Governor Seyi Makinde, by their solicitors, K. Eleja, Prof. Wahab Egbewole and Adekunle Sobaloju, argued that the letter by Lana, was not a true representation of the law and facts.

They stated that he goofed by saying that the governor should not be in a haste to appoint Balogun as the next Olubadan.

According to them, the law regarding the ascension to the Olubadan stool was the 1957 Olubadan Chieftaincy Declaration and the subsequent government decisions thereon, noting that the rights of the High Chiefs in line to the ascension to the vacant stool of the Olubadan of Ibadan was guaranteed and cannot be eroded by a conferment of rights to wear beaded crown as High Chiefs of Ibadanland.

They maintained that it was on record that none of the High Chiefs was at any point in time appointed or installed as Olubadan of Ibadanland or vested with the rights to wear beaded crown as Olubadan of Ibadanland.

The High Chiefs in the letter dated January 4, copied the state Attorney General and Commissioner of Justice and Commissioner for Local Government and Chieftaincy Affairs, said the conclusion of Lana in his letter was self-serving, un-

founded and a gross misconception of the purport of the restructuring of the Ibadan chieftaincy order administration of former governor, late Senator Abiola Ajimobi.

The letter read, "Re: Installation of New Olubadan Of Ibadanland.”

"We are Solicitors to the Olubadan in Council who are the Kingmakers for the Olubadan of Ibadan hereinafter referred to as our clients and on their resolute instruction we write this letter.

"Our clients just brought to our notice a letter dated January 3, 2022 written by Michael F. Lana Esq. wherein he urged your excellency not to approve the appointment of any High Chief as Olubadan on the ground that the Ibadan High Chiefs are Obas and that there is a pending suit 1/22/2020 before the court.

“We wish to state that the content of the said letter is not a true representation of the law and the facts on the ascension to the Olubadan stool and we have our client’s instruction to debunk the misconception and controversy being whipped up by the content of the said letter.

"First, the law as regards ascension to the Olubadan stool is the 1957 Olubadan Chieftaincy Declaration and the subsequent Government decisions thereon and the rights of the High Chiefs in line to the ascension to the vacant stool of the Olubadan of Ibadan is guaranteed therein as it was not and cannot be eroded by a conferment of rights to wear beaded crown as High Chiefs of Ibadanland as it is on record that none of the High Chiefs was at any point in time appointed or installed as Olubadan of Ibadanland or vested with the rights to wear beaded crown as Olubadan of Ibadanland,” they stated.

According to them, the position, ranking and status of the high chiefs of Ibadanland and their rights of ascendancy to the Olubadan stool was never at any time altered by the Oyo State Government.

“All that was done was to confer on the high chiefs the right to wear beaded crown pursuant to the enabling statute in this regard. The conferment of the right to wear beaded crowns on the High Chiefs did not elevate any of the Chiefs to the status of the Olubadan of Ibadanland as the Olubadan at all times remained the paramount king and ruler of Ibadanland with the position of an emperor and addressed as “His imperial Majesty” while each of the

high chiefs who are lesser to the Olubadan are referred to as “His Royal Majesty” and they remained in their respective lines and ranks on the Olubadan ascendancy chain and have always retained their respective positions as Otun Olubadan of Ibadanland, Osi Olubadan of Ibadanland, Balogun of Ibadan, etc.

"The conclusion of Mr. Michael Lana is therefore self-serving, unfounded and a gross misconception of the purport of the restructuring of the Ibadan chieftaincy order by the previous administration in Oyo State.

"The pending suit. i.e Suit No. 1/22/2020 which has been adjourned for judgment has nothing to do with the right of succession to the stool of Olubadan, the suit was filed by the High Chiefs and Traditional Rulers of Towns and Villages in Ibadanland to set aside the consent judgment which nullified the Gazette vesting on each of them the right to wear beaded crowns and coronets.

“The suit therefore dwells mainly on whether it was proper

to divest the claimants of vested rights through a consent judgment entered into by their adversaries without any consultation with them or their consent.

"We unequivocally state that we are not aware of any suit or any order of a competent court of law as at today which restrains the Oyo State Government from kick starting the process of filling the vacant stool of the Olubadan of Ibadanland or from approving the appointment of any person next in line of succession to the throne as the Olubadan of Ibadanland.

“An unsolicited, jaundiced, misconceived and warped opinion of a counsel who did not disclose his quo warranto cannot metamorphose to an order of court capable of stopping His Excellency from exercising his statutory power of approving the candidate selected by the Olubadan in Council to fill the vacant stool of the Olubadan of Ibadanland.

"It is also on record that the High Chiefs were conferred with the right to wear beaded crowns

on the 27 of August, 2017, und immediately thereafter during the subsistence of suits filed by Chief Rasheed Ladoja and others challenging the action that there was a vacancy in the Balogun line and HRM Oba Gbadamosi Adebimpe was elevated from Ashipa Balogun to Osi Balogun and HRM Dr. Kolawole Adegbola was also elevated from Ekarun Balogun to Ashipa Balogun by the Late Olubadan and the elevations were approved by Your Excellency inspite of the subsistence of the suits in court and their status as beaded crown wearing Obas and heaven did not fall.

"We equally reiterate that there is no controversy whatsoever within the Olubadan in Council and the entire Ibadanland as to the candidate next in line to fill the vacant stool of the Olubadan of Ibadanland other than the unnecessary dust raised in the letter of M.F Lana Esq as we do not see how the judgment of the court in suit 1/22/2020, whichever way it goes, can in any way affect the

right of the Kingmakers to select the candidate next in line to fill the vacant stool of the Olubadan of Ibadanland.”

Meanwhile, a statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, quoted the governor to have said the late Olubadan was a peace-loving father for all, adding that his six years reign was wonderful to the people of Ibadan and Oyo State at large.

“So, the state government is promising that the coming of the new Olubadan will also be peaceful,” he added.

Earlier before the Fidau prayers

by Muslim clerics, Bishop Samuel Olawode of Maranatha Cathedral, at a Christian funeral service, compared the late monarch to King Hezekiah in the Bible and recounted his disposition to religious tolerance.

Also in his sermon, Prof. Khamil Olosho, emphasised the need for righteous living, bearing in mind that death, judgment, reward and after life would be the finality of mankind.

No Edo Community Sacked by Bandits, Say Police APC jobless, out to cause panic in the state, PDP alleges The Edo State Commissioner of Police, Philip Ogbadu, has described as fake the news making the rounds alleging that a community in Ovia North East Local Government of the state had been invaded and seized by marauding bandits.

Ogbadu disclosed this when he led a joint security team including the Police, Army, Nigeria Security and Civil Defence Corps (NSCDC) and local vigilante, among others, to the community.

In a statement, the Police Commissioner who was represented by the Command Public Relations Officer, SP Kantonge Bello, reassured on the commitment of the security agencies to the protection of lives and property of residents.

According to him, “The news making the rounds on social media that a community in Edo State was sacked over the weekend by herdsmen is not true. A joint security force made up of the Army and Police have visited the area to get first-hand information on the issue.

"We have been directed following the report of the sack of the community, which is why we came here with journalists to visit the community. It was an issue of

farmer and herders clash.”

Describing the story as false, Ogbadu noted nobody was killed nor houses burnt as alleged in the fake news.

He stated, “People are agitated by the story; we are here to ensure the tension is reduced. The community has not been sacked as reported by some aspects of the media. No house was burnt and nobody killed.

We have visited the village in the company of the Area Commander, DPO Ekiadolor and the Army.

“We want to assure the people that are residing here that they are safe. We assure you of the safety of lives and property. This delegation is here to show that the government and security agencies are committed to ensuring that there is no breakdown of law and order in the state.”

In a related development, the Edo State Chapter of the Peoples Democratic Party (PDP) said its attention had been drawn to a vile, malicious, fictitious and ill-fated report purporting that a community in Ovia North East Local Government of the state had been invaded and seized by marauding bandits with the intention of terrorising the community and its neighbours.

According to a statement from the party yesterday, checks by Edo PDP at the said community and engagement with the Nigeria Police Force and local sources revealed that the story was fabricated by the opposition and detractors of the state government with the intention to cause panic among Edo citizens.

“It must be put on record that the opposition in Edo State, the All Progressives Congress (APC) and their minions have resorted to their familiar antic of stage-managing the orchestration of chaos where there is none in order to drive alternative facts, propaganda and falsehoods, so as to put the people of the state on the edge.

“There is no denying that the latest attempt is as a result of the accolades heaped by citizens and visitors to the state on the Edo State Governor, Mr. Godwin Obaseki, his administration and security agencies in the state for a peaceful yuletide celebration, during which no violent crime was recorded, even as the state witnessed unprecedented activity in the entertainment, hospitality and creative sectors.

“The opposition is uncomfort-

able that despite their false alarm and a dimwitted call for a state of emergency, the state is manifestly peaceful and Edo people have come out to acknowledge this obvious fact as a part of their lived reality,” it added.

It said the APC and their agents should be made aware that it was a crime to stir up a crisis with false alarms and fake news as is contained in the extant laws of the land.

“The public is advised to ignore their false alarms and ill-fated propaganda as it is only aimed to drive selfish interest in stirring up a crisis where there is none.

Security agencies in the state have been put on the alert and will not fail to bring those found to be fermenting crises in the state to justice.

“We hereby urge Edo people to go about their businesses with the assurance that the Governor Obaseki-led government will continue to provide the needed support for the state vigilante network, security agencies and other institutions to deliver their statutory role of ensuring the safety of lives and property in the state,” it added.

WEDNESDAY JANUARY 5, 2022 • T H I S D AY

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TEN IN MAJOR TEST OF GOVS’ POWERS AS CHIEF SECURITY OFFICERS, POLICE DEFY ORDERS FROM SANWO-OLU built. Many believed he was trying to avoid a breakdown of law and order as the parties awaited the resolution of the matter.

In a viral online video watched

by THISDAY, the governor was seen at the estate trying to mediate in the faceoff between the estate residents and the policemen, said to have been deployed from Force Headquarters in Abuja. The policemen in company with suspected land grabbers and members of a family had besieged the estate for days in a bid to demolish some properties in execution of a Supreme Court judgement.

Amid the ensuing hullabaloo and the rising tension occasioned by the action of the police, the residents had called on the governor to intervene, which he did by visiting the suburb to see things for himself. Having seen the tension firsthand, he directed the policemen to withdraw, given that it was a case between private individuals and the state government.

But according to Oyewole, the police team were allegedly sent at the behest of the Inspector-General of Police, Usman Baba, and the Attorney General of the Federation and Minister of Justice, Abubakar Malami, and, thus, could only be asked to withdraw by them.

In the video, the governor was heard telling the officers at the estate, “Can you call your superiors in Abuja and tell them that the governor is here and as the chief security officer, you don’t have any business being in my state right now and that I want you to disengage right now?”

The CSP was also heard replying, “I am here on the instruction of the Inspector General of Police through the AGF. I am too small or too low to call them. Your Excellency, Sir, you can call them, Sir.” The governor further asked the number of policemen at the estate, but the CSP replied, “My men are here; they are all over the place, I cannot precisely tell you how many we are. For security purpose, I cannot tell you the number.”

Further attempts by the governor to get Oyewole to disclose the number of the policemen proved abortive. At this time, the governor declared that the presence of the policemen was illegal, adding that he would make calls to the IG and the AGF to ensure the officers left the estate to allow for a peaceful resolution.

He said, “The policemen are not from the Lagos State Police Command. They said they are from Abuja. I don’t know what other interest they have beyond keeping the peace of the country.

This is not an expectation that I expect from them because they don’t have any business here.”

Over 549 properties were marked with red, brown, and blue inks, with the inscription: “ID/795/88 Possession Taken Today 21/12/21 by Court Order.”

Since the planned demolition and siege on Magodo Phase II Estate, the police had been harassing the community with members of a family said to be executing the Supreme Court judgement on the ownership of the land on which the properties were built.

But when Sanwo-Olu and members of the state executive council, accompanied by the Commissioner of Police, Hakeem Odumosu, visited the estate, the governor went to the police station within the estate, where he was addressed by Oyewole. The CSP told the governor that the police team had been sent from Abuja to execute the Supreme Court judgement on Magodo Phase II properties.

But the police team leader could not provide the copy of the said judgement, when demanded by the governor, prompting Sanwo-Olu to order the armed policemen to deactivate their operation and leave Lagos in the interest of peace. The officer declined, claiming to be acting on the orders of the AGF and IGP. After several phone calls to the authorities in Abuja, on whose command the heavily armed policemen were said to be acting,

Sanwo-Olu briefed the residents and appealed to the concerned parties to stand down until the matter was resolved.

He, thereafter, invited all the stakeholders to a meeting in his office at 11am this morning, saying the issues called for proper deliberation in the interest of peace.

The governor said, "I’ve spoken extensively with the Inspector General of Police, the Hon. Attorney General, and we’ve resolved all of the issues. So, what we would see is that there’s going to be a total stand down. Tomorrow (today), we’ll be inviting the representatives of the judgement creditors.

“We have actually started a committee meeting, but I want to invite them again officially to my office tomorrow by 11am to come over with two, three of their representatives. The state government will be there, the residents' association will be there, and the police will also be there, so whatever it is that must have brought about all these troubles and heartaches will need to be brought there.

"We will all go through every line of it and we’ll come to an amicable resolution.”

Sanwo-Olu pleaded with all concerned to help ensure peace in the estate, saying, “I want all of our citizens to go about their lawful businesses knowing full well that nobody will be harassed, or any property trampled upon pending all of these conversations.”

He added, "We will have an extended conversation tomorrow so that we can bring this to a final closure. So, I want to ask the residents, the executives, don’t take the laws into your hands.

Just go back home peacefully. The policemen have been recalled.”

Residents claimed that over 20 people were arrested in what they described as an unlawful invasion of their properties. They said most of the property owners were locked up in the name of Supreme Court verdict enforcement.

A resident, Mrs Sabina Adeniyi, said, her son was arrested and locked up at the police station

until the governor and the Lagos State Commissioner of Police came to their rescue.

Another resident, Mr Mojeed Jamiu, described the invasion by the police as illegal, and likened the potential outcome to the way the #EndSARS protests escalated. He wondered why the police would take laws into their hands through unlawful invasion of private residences.

The Residents’ Association has, however, petitioned the Lagos State House of Assembly to investigate the invasion of the Magodo GRA Phase II by the police on the directive of the Inspector General of Police and the Attorney General of the Federation. The residents, in the petition by Ademorin Kuye and Rotimi Agunsoye, stated that the “residents of Magodo GRA Phase II, Shangisha, Lagos woke up on the morning of December 5, 2021, to the sight of hundreds of arm wedging thugs, stern-looking and fully armed policemen and members of the Shangisha Landlords Association purportedly to execute a judgement.

“Aware also that the judgement that was supposedly being enforced was delivered in 2012 by the Supreme Court in Military Governors of Lagos State & Ors Vs Adebayo Adeyiga & Ors in Appeal No SC/112/2002, wherein the Apex Court Affirmed the judgement of the Court of Appeal and the High Court delivered on the 31st of December 1993 in suit No ID/795/88.

“Further aware that the declara-

persisted, despite external reserves accretion, while capital market metrics recorded positive performances.

Deputy Governor, Economic Policy Directorate, CBN, Dr. Kingsley Obiora, called for the deployment of more growthinduced policies in order to stimulate economic activities. He said this was why he supported the current “100 for 100” policy on Production and Productivity (PPP) introduced by the CBN. Obiora said, “The policy will boost production in the manufacturing sector; reduce imports and expand the non-oil exports; improve accretion to external reserves; and ensure exchange rate stability.

“Also, the launching of the Tertiary Institutions Entrepreneurship Scheme (TIES) in November 2021 would enhance entrepreneurship and promote economic growth in strategic sectors of the economy as well as address the challenges of youth unemployment in the country.

“However, given Nigeria’s huge investment needs and limited fiscal space, we must continue to attract the private sector to the critical sectors of the economy through PublicPrivate Partnership (PPP). This arrangement will enhance efficient development and productivity of infrastructure, human capital and other critical sectors of the economy on a sustainable basis.”

In his contribution, CBN Deputy Governor, Corporate Services Directorate, Mr. Edward Adamu, noted that notwithstanding the positive outcomes so far on inflation and growth, the economy was yet to attain the pre-pandemic levels on several fronts.

Employment, for instance, continued to be a major policy

concern, he said, adding, “The surest bet to alleviating poverty is growth in employment, which is tied to economic (output) expansion.

“In effect, the economy needs to expand at a faster rate than has happened up to third quarter 2021, to generate more jobs. Even at the 4.03 per cent overall real growth rate in Q3, some sectors (activities) were still struggling.

“Among those, oil and gas, fishing, and oil refining stood out. These activities and some others that barely crossed the line would continue to require policy support in the short- to medium-term.

“The need to sustain liquidity support to key economic activities is buttressed by the vulnerabilities in the horizon, including new variants of the coronavirus driving infection resurgence.

“The moderation in inflation is occurring at a fast pace, attributable mainly to the consistent effort towards boosting supply, rather than a decline in demand.

“Barring any major shock, the current trajectory is expected to be sustained through the first quarter of 2022. Contrary to what is happening in most other climes, the recovery in domestic demand has not translated to new price shocks.

“Not only has output rapidly increased, the liquidity management strategy has kept banking system liquidity close to its optimal level.”

On his part, an MPC member, Professor Adeola Adenikinju, expressed concern about “the uncertainty around 2022, being a pre-election year,” noting, “usually, foreign investors are less likely to commit to new investment in the country, affecting foreign exchange reserves.”

connivance of the IGP is illegal as only the Lagos State Deputy Sheriff can execute same and not thugs aided by policemen.

“More worried that the highhandedness and reckless show of force on the 5th of December 2021 and the 4th day of January 2022 in Magodo by Chief Adeyiga and his cohorts in blatant disregard to Order 8 Rule 17 of the Supreme Court Rules 2014 and Section 37 of the Enforcement of Judgement and Order Part III of the Sherriff and Civil Process Act, LFN 2004 can lead to loss of lives and properties and ultimately breakdown of law and order.

“Most Worried the Attorney General of the Federation is destabilising Lagos State by using his office to back this illegality as a meddlesome interloper and the instrumentality of state – the Nigerian Police Force and their illegal Court Bailiffs, to scuttle ongoing settlement between the Lagos State Government, Magodo GRA 2 Residents and the Judgement Creditors.”

The people, therefore, urged the Lagos Assembly Committees on Justice, Public Petition and Police “to investigate the involvement of the Attorney General of the Federation and the Inspector General of Police in the attempt to destabilise the peace of Lagos State, scuttle the ongoing settlement process and enforce an illegality.”

They also urged the legislature to “recommend appropriate sanction for any officer found culpable in the illegal enforcement and breakdown of law and order.”

NIGERIA TO LOSE OVER $1BN TO UNDER-PRODUCTION AS OPEC RAISES OIL QUOTA Nigeria’s hitherto 1.683 million bpd in January 2022 to 1.701 million bpd by OPEC, meeting the target next month would be an uphill task, if not impossible.

Nigeria’s three tiers of government that depend largely on oil revenues for survival are also forecast to continue to feel the impact of the severely hampered production.

EMEFIELE: EXTENSIVE STRUCTURAL REFORM NEEDED TO ACCELERATE ECONOMIC GROWTH He said, “Our medium-term goal is to fast-track growth above historic average. Economic activities may reach pre-pandemic levels if the resilience of non-oil activities (especially agriculture and manufacturing sectors) are given continued impetus.”

Nigeria recorded eight consecutive months of deceleration in headline inflation rate to 15.4 per cent in November 2021.

According to Emefiele, this reflected the disinflation in both the food and core components.

He stated, “Regardless, inflation remained at unacceptable levels, propped by structural inadequacies. Short-term projections indicate further moderations in expected inflation, especially as development financing continue to resolve supply rigidities.

“Analysis of monetary condition indicated a tepid outcome during the review period with mixed interest rate developments. While weighted average inter-bank call rate fell 3.21 percentage points to 10.00 per cent in October 2021, open-buy-back rate gained 1.07 percentage points to 12.18 per cent.

“Monetary aggregates expanded in October, although, below provisional targets. Broad money growth at 7.10 per cent, was 2.54 per cent points below benchmark.

“The observed growth was, however, attributable to the 9.12 per cent expansion of net domestic assets underpinned by credits to the private sector.”

Emefiele pointed out that the banking system remained stable and resilient with capital adequacy ratio (CAR) at 15.2 per cent; liquidity ratio, 41.2 per cent; and non-performing loans’ (NPLs) ratio at 5.3 per cent.

He, however, acknowledged that in the forex market, the exchange rate pressure had

tory judgement of the Supreme Court only recognised the Judgement Creditors as being entitled to the allocation and reallocation of 549 plots of land in Shangisha Village, not possession of any land.

“Cognizant that several attempts have been made by the Lagos State Government from 2012-2015, to settle the matter amicably making different engagements, with the Judgement Creditors presenting a proposal for reallocation in the Magodo Residential Scheme within the Badagry area of the state, which some of them accepted.

“Informed that the Lagos State Government again in 2016, initiated a settlement to reallocate Ibeju Lekki Coastal Scheme located in the Ibeju Lekki Area, but this was rejected by the lead plaintiff, Chief Adebayo Adeyiga, as government continues to dialogue with majority of the Judgement Creditors to reach a concession towards implementing the judgement “Worried that despite the ongoing settlement efforts and the pendency of an interlocutory injunction dated December 1st, 2020, before the Court of Appeal, seeking an order restraining him and his agents, Chief Adeyiga purportedly encouraged by the Attorney General of the Federation and the Inspector General of Police, stormed the estate with unknown bailiffs and armed security operatives to execute a judgement that was purportedly delivered by Lagos High Court.

“Worried that the execution being presently executed through the office of the AGF with the

Adenikinju, however, advised, “Going forward, there is a need to harmonise monetary policy with the monetary and development targets in the newly approved Medium-Term National Development Plan.

“There is also a need to decompose the intervention fund to those that went to boost aggregate demand and those that went into expanding the supply base of the economy. Careful examination of the contributions of these interventions should guide the decision on the pace of winding down the interventions in 2022.

“The CBN must continue to explore ways of further de-risking the critical sectors of the economy to enable the deposit money banks to lend to them.

“As CBN interventions cannot continue in the long term, domestic banks must take on the responsibility of supporting households’ credit and the MSMEs. The unsustainability of petrol subsidy is an issue that the government should address urgently.”

Another MPC member, Professor Mike Obadan, said with rising debt service-to-revenue ratio, currently put at over 90 per cent, heavy debt servicing was taking a toll on lean fiscal resources and could hinder availability of funds to finance critical government programmes and projects.

Obadan stated, “Against the backdrop of limited domestic revenue mobilisation and little or no foreign exchange inflow from oil and gas exports, the government’s fiscal capacity remains weak.

“It requires continued monetary support to drive economic activities towards the desired sustainable growth trajectory.”

For instance, the Nigerian National Petroleum Company (NNPC) Limited was only able to remit N10.5 billion, which was 8.5 per cent of its projected N122.7 billion to the federation account last month.

But the national oil company had blamed the inability to restart oil wells shut down in 2020, when OPEC compelled member countries to cut production for the declining production.

Added to that, it had listed issues with host communities, vandalism, incessant force majeure on major assets as well as technical issues leading to shutdowns as some of the challenges bedevilling the industry.

However, the major culprit remains Nigeria’s ageing upstream infrastructure, following years of under-investment in expanding and modernising the assets.

Although the Minister of State, Petroleum, Mr Timipre Sylva and the Group Managing Director of the NNPC, Mallam Mele Kyari, had set the end of 2021 to improve Nigeria’s production and meet the quota and that has not materialised significantly.

In a statement after the 24th OPEC and non-OPEC ministerial meeting where the decision to allocate an additional 400,000 barrels per day to its members was arrived at on Monday, the producers’ group stated that it was sticking to the gradual plan to unwind in view of the current oil market fundamentals and the consensus on its outlook. “(We) reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC ministerial meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of February 2022,” it announced.

Furthermore, OPEC asked its members such as Nigeria, to meet up their production quota and urged those who had exceeded their allocation to agree on a compensation plan by June this year.

“We reiterate the critical importance of adhering to full conformity and to the compensation mechanism taking advantage of the extension of the compensation period until the end of June 2022.

“Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC ministerial meeting,” it added.

Meanwhile, in view of the development, oil prices rose about two per cent on yesterday, even as the cartel said there were indications that the Omicron coronavirus variant would have only a mild impact on demand.

Brent crude, Nigeria’s benchmark was up at $80.48 a barrel, highest since November, while the United States West Texas Intermediate (WTI) crude rose by $1.48, or 2 per cent, to $77.56.

Also, global manufacturing activity remained strong in December, suggesting that Omicron's impact on output had been subdued.

The supply crunch caused by members' inability to meet production may even be worse as Libyan output is likely to be about 500-600,000 bpd lower in the coming weeks, more than offsetting the planned monthly increase in OPEC+ production.

The country’s oil firm said on Saturday oil output would be reduced by 200,000 bpd for a week due to maintenance on a main pipeline, adding to disruptions two weeks ago after militia blocked operations at the Sharara and Wafa oilfields.

Speaking before the OPEC meeting, its Secretary General, Sanusi Barkindo, stated that in 2022, the outlook correlates with a generally positive trajectory with regard to market fundamentals.

He added that while there were some uncertainties, particularly related to mutations of the coronavirus, there are signs that the global economic recovery, supported by the contribution of the ‘Declaration of Cooperation’ participating countries to oil market stability, can continue in the year ahead.

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NEWS

A POLITICAL STRATEGIST AND HIS SUCCESSOR...

L-R: Speaker, Bayelsa State House of Assembly, Abraham Ingobere; immediate past Governor and Senator representing Bayelsa West Senatorial District, Chief Seriake Dickson; Governor Douye Diri and his wife, Dr. Gloria, during Dickson's New Year visit to the governor's country home at Sampou in Kolokuma/Opokuma Local Government Area, Bayelsa...yesterday

Igbo Clerics, Traditional Rulers Demand End to Insecurity in Imo Igbo clerics, monarchs and elders under the aegis of the South-east Council of Traditional Rulers and Representatives of Igbo Archbishops and Bishops on Peace and Conflict Resolution have called for an end to criminality and other forms of insecurity in Imo State.

The group particularly condemned the recent invasion of the place of worship by policemen on December 26, 2021, adding that it exposed the long-running troubling state of affairs in the State, which according to them had led to the loss of many lives, hundreds of millions of naira of property, a deterioration of the environment for business and a

debilitating poisoning of public culture and trust.

In a statement jointly signed by the Obi Of Onitsha, Igwe Nnaemeka Achebe and Archbishop Chibuzo Opoko, Methodist Archbishop of Umuahia, the group declared that the tensions, violence and failing law and order were being situation fuelled by selfish politicians in the state was unacceptable and must be brought to an end.

The group therefore called on all the political leaders in contestations and their followers to cease and desist from all actions that will escalate or compound the situation on the ground in the state.

They also proposed urgent meetings with the governor, past governors, the former governorship candidates, and elders of the state in order to proffer a solution.

"The dramatic and condemnable invasion of a place of worship by officers of the Nigeria Police Force on 26 December, 2021 ostensibly to effect the arrest of a former Governorship candidate in Imo State has brought to the public consciousness the long-running troubling state of affairs in the state, which has led to the loss of many lives, hundreds of millions of naira of property, a deterioration of the environment for business and a debilitating poisoning of

public culture and trust.

"The tensions, violence and failing law and order situation have resulted in a significant number of deaths, including those of traditional rulers, a considerable number of missing persons, and the abduction of scores of youth presumably by law enforcement and non-state actors.

“Many attribute this to the prevailing political differences in the State. These arrested and kidnapped young men are said to be held in concentration camp conditions.

"This state of affairs in Imo State, blamed largely on a few

Dickson, a Political Strategist, Says Diri Olusegun Samuel in Yenagoa Bayelsa State Governor, Senator Douye Diri, yesterday, went down memory lane on his political journey with his predecessor, Senator Seriake Dickson, and described him as a political strategist.

Diri stated this, when he received the senator representing Bayelsa West Senatorial District in his hometown, Sampou, in Kolokuma/Opokuma Local Government Area of the state.

The governor recalled how both of them began their political journey serving in past civilian administrations in the state except one.

Diri, in a statement, by his Chief Press Secretary, Danirl Alabrah, said their long-standing relationship was of a mutual brotherly bond, and emphasised that his predecessor had always been instrumental in his political successes, recalling also that his first elected position as member of the National Assembly was achieved under the leadership of Dickson.

He also narrated how his smooth transition from the House of Representatives to the Senate and now governor of the state became possible, because Dickson believed in his capacity to consolidate on the legacies laid for the state.

According to him, “Dickson and I have known each other long before the creation of Bayelsa State

(in 1996). We had been involved in Ijaw activism in Port Harcourt (Rivers State) and later served in other administrations in the state.

“Like he (Dickson) rightly mentioned, it is only in one administration both of us did not serve in this state. And we never knew he would become governor but because that was his destiny, it came to pass.

“The kind of relationship we share is cherished by both of us.

I recall when we were looking for who to contest the House of Reps seat for our party; while I was busy looking for the right person outside, he was in his office doing same thing.

“Finally, he decided and told me that those around him have pointed to my direction to represent Yenagoa/Kolokuma/ Opokuma Federal Constituency.

That was how I started the journey to the National Assembly.

"Initially, our intention was for me to go to the Senate. But being the political strategist that he is, he told me that the powers that be then would be an obstacle. So, the House of Reps was the best option at that time.

“I decided to go down this memory lane, because a lot of things are happening just to underscore the relationship that I have enjoyed with my brother, friend, compatriot and leader till now that I'm governor.”

Expressing gratitude on behalf of his Prosperity Administration

to Dickson, the governor called on those in his government and his party (Peoples Democratic Party) to continue to give glory to God for still maintaining and controlling political power in the state.

Diri further advised his supporters and political associates to ensure that their structure remained intact ahead of the next elections.

Earlier, Dickson said as part of the yuletide festivities, he came to pay homage and solidarity to the number one citizen of the state as a mark of respect as well as reciprocate the earlier gesture of the governor, when he visited him at his country home in Toru-Orua

community.

He confirmed too that Diri was his friend, brother, colleague and ally, whose relationship was treasured beyond party affiliation.

While calling on people of the state to support the present administration, Dickson stressed that those in government must work with unity of purpose.

Present during the visit were the Speaker of the Bayelsa House of Assembly, Abraham Ingobere, other legislators, Secretary to the State Government, Dr. Konbowei Benson, commissioners, and other top government functionaries, traditional rulers as well as party stalwarts and political associates.

politicians of the State and their cohorts, constitute an assault on the dignity and well-being of Ndi Imo and the Igbo nation.

It is unacceptable and must be brought to a speedy resolution,” the statement added.

It added: "To pursue one’s political interest to the detriment of the interest of the people that one seeks to serve violates the essence of the Igbo way and good leadership.

“As such we call on all the gladiators, requesting that they note that the ethos of Ndi Igbo is steeped in ‘egbe belu ugo ebelu’.

We know what fate is cast on the one that does not allow the other to perch.

“We propose to immediately commence meetings with the Governor, the past Governors, the former Governorship candidates, and elders of the State to scope the problem and proffer a solution.”

Hero Beer Unveils Initiative to Celebrate Consumers David-Chyddy Eleke in Awka

International Breweries, makers of Hero beer has unveiled an electronics LED board tagged - Board of Heroes - to celebrate its consumers in the south-east.

The company said the electronics board with the hashtag ‘Ibu Odogwu’ was situated at its Onitsha plant in celebration and acknowledgement of its consumers’ exploits and achievements during the year.

Speaking at the unveiling ceremony, Marketing Director, International Breweries Plc, Tolulope Adedeji expressed the brand’s happiness at celebrating its consumers through the ‘Board of Heroes’.

Speaking during an event for the unveiling of the board in Onitsha, she explained: “This

is the first of its kind where the brand will exclusively launch a high impact LED billboard to celebrate and showcase its consumers.”

She added: “Today, Hero Lager is unveiling this unique board right at our plant here in Onitsha to celebrate our loyal consumers, most of whom are south-easterners who are either based here in the East or in other parts of the country from where they arrive to see their families during the festive season.

“Hero recognises their hard work and staying power despite their collective and individual challenges and has chosen to unveil this LED Board to honour and show them that we see them and appreciate their heroism in the year 2021.”

IYC Queries Amaechi's Silence on NDDC Saga Blessing Ibunge in Port Harcourt

The Ijaw Youths Council (IYC) Worldwide, yesterday, queried the Minister of Transportation, Mr. Chibuike Amaechi's silence on the agitation of stakeholders for a substantive board of the Niger Delta Development Commission (NDDC).

President of IYC, Peter Igbifa, in his new year massage, wondered why Amaechi known for his boldness in speaking out, had remained unusually quiet since the agitations for justice and fairness started in NDDC.

"The silence of leaders like the Transport Minister, Chibuike Rotimi Amaechi, on the illegality at the NDDC is no longer golden. Why has Amaechi, who is known for his boldness and for withstanding all opposition to support President Muhammadu Buhari, suddenly lost his voice concerning the NDDC? Amaechi and other leaders must explain to us the reason for their silence," he said.

Igbifa, who reflected on some of the achievements of the council since he took over its leadership, also condemned President Buhari's silence on the NDDC

board during his recent speech to inaugurate the hostel project completed by the commission in Uyo, Akwa Ibom State.

He said though the extension of Effiong Akwa's tenure as the Sole Administrator of NDDC expired on December 31, 2021, the Presidency was doing nothing to inaugurate the NDDC Board.

His words: "We condemn the silence of Mr. President on this board matter. President Muhammadu Buhari portrayed himself as an insensitive leader, when he failed to speak on the matter during his recent speech to inaugurate the hostel project

built by NDDC at the University of Uyo, Akwa Ibom State.

"It is obvious that persons surrounding the President and who wrote that speech for him are misrepresenting him, because the real Buhari that we know would have inaugurated the NDDC board, at least, as a new year gift to the Niger Delta people, who gave him the goodwill of regional peace like no other".

The IYC boss said the council would continue to demand transparency and accountability in NDDC and called on the President to make the forensic audit report of the commission public.

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COMMENT

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

APC AND THE POLITICS OF ZONING There is need to stick to the earlier agreement, argues Salihu Tanko Yakasai

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s the 2023 presidential election draws closer, a lot of permutations and scenarios are being conceived by both the ruling APC and the main opposition party, PDP. These scenarios are not limited to only the two biggest parties, as other political lightweights are equally plotting their own schemes with the oversized ambition of winning the presidential election. However, I will focus my analysis on the politics of zoning in the ruling APC, which is the favourite contender, barring any last -minute pre-election surprises. Zoning has to a certain degree been in the political DNA of Nigeria since the First Republic, and to a large extent, even in the formation of governments whether military or civilian. In 2015, following the formation of APC, the party focused its attention on unseating the then ruling PDP with the issue of zoning taking a backseat. Prominent politicians rallied behind the most popular candidate, the incumbent President, Muhammadu Buhari, who won the presidential election with over 12 million votes coming chiefly from the country’s northern region where he hails.

Former Lagos State Governor, Bola Ahmed Tinubu led the campaign, working tirelessly and deploying all resources at his disposal to ensure Buhari emerged as the candidate. Following a successful outing at the primary elections, Buhari rewarded Tinubu’s efforts by giving him the singular honour of nominating a running mate. Had Tinubu so desired, he could have submitted himself for consideration and it is unlikely Buhari would have declined. However, Tinubu was magnanimous enough to shelve his ambition at that time and presented Prof. Yemi Osinbajo as his nominee to be Buhari’s running mate, a decision that Buhari accepted wholeheartedly.

Immediately after the primary elections, the famed South West media began the process of “repackaging” Buhari, presenting him mainly to the Southern electorate as the best choice for Nigeria in 2015 and the long-awaited saviour of the motherland. Social media campaigns began on a level never seen before and portraits of Buhari donned in suits and other colourful Nigerian attire began making rounds. Indeed, he was “well-packaged” and as the Almighty God had decreed, he emerged victorious at the polls, defeating the sitting president; an unprecedented feat in the country’s political history.

By and large, the South West led by Tinubu contributed immensely to the political success of APC in 2015, especially at the national level, consequent upon which a gentleman’s agreement was reached that upon the expiration of President Buhari’s two-term tenure, power will shift to the South West. As the popular Yoruba saying goes: Bu fun mi ni Bu fun e, ni akere n ke lodo, which basically means one good turn, deserves another. Or so we thought!

Since Buhari’s reelection in 2019, however, the body language of the ‘powers that be’ within the party and indeed the government, is beginning to suggest that they are not going to honour that ‘gentleman’s agreement’. The two major contenders from the region are facing uphill battles for their survival, scaling one hurdle after another, and having to tiptoe in a political minefield. There are two possible scenarios being plotted by these ‘powers that be’ in their quest to ensure nobody from the South West emerges as the presidential candidate of the party.

The first scenario involves presenting a candidate from the South South or even the South East. In this regard, even APC’s former public enemy number one, the immediate past President, Dr. Goodluck Ebele Jonathan is being touted by some APC stalwarts as a potential candidate

THE FIRST SCENARIO INVOLVES PRESENTING A CANDIDATE FROM THE SOUTH SOUTH OR EVEN THE SOUTH EAST. IN THIS REGARD, EVEN APC’S FORMER PUBLIC ENEMY NUMBER ONE, THE IMMEDIATE PAST PRESIDENT, DR. GOODLUCK EBELE JONATHAN IS BEING TOUTED BY SOME APC STALWARTS AS A POTENTIAL CANDIDATE FOR THEIR PARTY

for their party. The rumour spreading in certain corridors is that these political schemers plan to present him as their consensus candidate in the hope that upon the expiration of his tenure in 2027, his vice president, a northerner will then take over. As the Hausa man will say, Turkashi! What a scenario! However, if that was too ambitious a scheme, these political gladiators have a contingency plan, which involves one of Buhari’s serving ministers from the South East being backed for the number one seat.

My primary concern with these two scenarios is that the South East and South South did not contribute convincingly to the victory of APC in 2015 and indeed in 2019. In the combined 11 states of the two regions, only two states are being controlled by APC governors while the South West has five APC governors and one PDP governor.

If one examines the votes cast in the South East in the 2015 and 2019 presidential elections, compared to that of the South West, the huge difference in terms of the number of votes that these regions gave the APC is very apparent. Then why, in God’s name, will APC abandon its stronghold in the South, for other geopolitical zones where the party lacks a strong political foothold?

As mind-boggling as the above scenario is, the second scenario is even more catastrophic for the APC politically, and that is presenting a northerner as the presidential candidate of APC in 2023. Those who advocate for this scenario do so simply because of the expectations that PDP will likely present a northerner as its presidential standard-bearer as well, thus, splitting the massive votes of the north and giving APC a chance of winning the presidential polls. How naïve is this political calculation?!

The political instability or rancor this scenario may likely bring to the polity of the country will be of monumental proportions. This will certainly be chaotic and unacceptable to many. My ardent hope is that the ‘powers that be’ currently scheming and taking vantage positions in respect of the general elections will quickly nip this scenario in the bud before it plunges the country deeper into a national crisis that is already at an alarming state.

My candid advice for our dear party, APC, is to stick to its ‘gentleman’s agreement’ and ensure that its presidential candidate in the 2023 election comes from the South West. A marriage between the North and the South West will surely yield a positive outcome for the party, simply because the numbers will add up and victory is guaranteed. If the ‘powers that be’ are against the two major contenders from the South West, then I suggest they start shopping for alternatives. I can save them the trouble of letting them know that no other politician in the South West has the political clout, structure and national spread to do better than the two major contenders at the polls. But whatever we do as a party, our best bet is putting our strong foot down and rallying behind that foot to take us to Eldorado. This is clearly our winning strategy.

Politics is about give-and-take, reconciliation, honouring of agreements, astute permutations and other conciliatory moves, which altogether set apart democracy from dictatorship. Any attempt to misappropriate juicy political office by a particular section to the disadvantage of the other(s) will spell doom for the party. We are living witnesses to how intra-party scuffles, crises and disagreements have brought the roof crashing on political gladiators at both state and national levels during the previous elections, and this is not an experience APC members will like to go through again. A stitch in time saves nine, they say!

BOLAJI AKINYEMI AT 80

Akpandem James pays tribute to Akinyemi, public intellectual and former minister of external affairs

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ome weeks before the 2014 National Conference rose to bid farewell to officials and delegates, the Lamido Adamawa, Alhaji Muhammadu Barkindo Aliyu Mustapha sent a letter to him. It was dated June 27.

The Lamido indicated that the Adamawa Emirate Council would like to honour the officer with a chieftaincy title. Six qualities endeared him to the Emirate, according to its custodian: patience, expertise, fairness, fearlessness, justness and firmness.

In the letter, Alhaji Mustapha noted: “I have observed your patience, expertise in handling of the National Conference, fairness, fearlessness, justness and firmness during the three months I have been participating in the plenary of the Conference. These are things which informed my decision to honour you with the traditional title of Hasken Adamawa, which means the ‘Light of Adamawa’”.

With expressed humility and profound sense of appreciation the man received the Lamido’s letter; and accepted the emirate’s honour with pride.

Few weeks after delegates must have all settled in their homes, and some completed their Ramadan obligations, the Adamawa Emirate went agog. And Akinwande Bolaji Akinyemi, professor of political science, a man from Osun State, South West Nigeria, became the “Light of Adamawa”. He was born on January 4, 1942. January 4, 2022, makes him 80 years old. He is now an octogenarian.

Conferment of titles in Nigeria often comes with exaggerated platitudes. Usually done to confer status and justify the action. The conferrer usually paints the conferee in glowing colours, even if not real.

Not this one! Those associated with Prof Akinyemi

or have encountered him, no matter how brief, would corroborate the Lamido’s observation about the erudite scholar and celebrated diplomat. He is not enamoured of titles. He is used to them; and so would not be unnecessarily excited about an addition. Titles rain on him. It would be a wonder if he is able to reel off-hand all the academic, professional social and cultural titles he has garnered in his 80 years of sojourn on earth.

The fact remains explicitly that the man has traversed the global space and has left imprints that easily recommend him for acknowledgement, appreciation and recognition. The 2014 National Conference was one of such stops where he pulled off a brilliant performance which almost everyone acknowledged and commended. When that offer by the Lamido was announced at plenary, it received a standing ovation. That was a clear endorsement.

Diligence has become his signature. He stamps it everywhere he goes. That is why he comes highly recommended for tasking assignments, even in retirement. If Prof Akinyemi was not at the 2014 National Conference, the story would certainly not have been that exciting. He acted the bridge-builder at every contentious intersection and worked with the few real patriots among the delegates to see that situations never tipped over. As would be expected at convocations where tribesmen jostle for relevance, an intermediary often gets a black eye. He did get; a number of times. That notwithstanding, his eyes remained on the ball.

Even at the level of the Conference leadership, his role was obvious; but much more than that, his mien was soothing. Whenever there was a disagreement,

misunderstanding or jostling for power, he would step in to interpret the mandate and offer a leeway.

He is a man of monumental sagacity. He would acknowledge the chairman, the Hon Justice Idris Legbo Kutigi as a man of integrity, a man with an open mind. He gives credit to the leader and tells anyone who cares to know that “we all owe the success of the Conference to Justice Kutigi.”

True, Justice Kutigi who died on October 21, 2018 was also an intellectual giant in his field – Law. He retired after serving as the Chief Justice of Nigeria (CJN). He was very jovial and patient, but could not stand those who wear arrogance as a virtue.

Whenever he was tempted to feel feverish, Professor Akinyemi would step in with a balm. And the situation would be arrested.

Notwithstanding, and where necessary, Professor Akinyemi could be very insistent on those things he is passionate about; even if standing alone. Rather than accede just for the sake of it, he tries to convince and buy over. He is neither interested in popular narratives nor dispositions; he interrogates issues and makes his decisions based on reality, fact and commonsense. He disagrees with his friends, colleagues and compatriots on some very critical subject matters. They sometimes assume it is betrayal or that he has sold out. But you need to convince him to the contrary. That is what he does also. Convince and convict. So the Lamido’s observations on him were real. No exaggerations. Not patronising!

He sits conveniently on any seat and delivers with intellect and panache. He is calm, cerebral, sociable; but very firm. In his consciousness, frowns jump in between smiles. He often begins with a welcoming

smile; but when taken for granted, he frowns; and then returns with a reassuring smile. I learnt it is the nature of diplomats, but this one is a diplomat extraordinaire. He wears trust like his trade-mark bow-tie. He makes friends easily. Although he is very jovial, patient and tactical, he does not welcome betrayal with hugs.

In the common parlance, it could be said that the name Professor Bolaji Akinyemi rings a bell.

That bell started ringing since when he graduated with a Bachelor of Arts (cum laude) from Temple University, Philadelphia, Pennsylvania, U.S.A. in 1964. He moved over to the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, U.S.A. where he obtained a Master of Arts degree in International Affairs (1965) and then to Trinity College, Oxford where he bagged the D. Phil. (Oxon) in 1969. Ever since, the bell has been ringing. Now he is 80; and the bell is still ringing. Lest I forget, he is an Igbobi College old boy.

It is an indisputable fact that Akinyemi is one of Nigeria’s most celebrated intellectuals. His foray traverses spheres, platforms and subject matters. His imprints are on the sands of the major continents of the world; and in some of the most prestigious institutions across the globe. Back home, he is a familiar name in institutions – academic, corporate, community and governance. He has served in both the military and civilian political dispensations. He has led several diplomatic shuttles to countries and world bodies on behalf of his country and global institutions.

James (fnge) was in charge of Media and Communication at the 2014 National Conference.

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EDITORIAL AGAIN, THE POPULATION QUESTION It’s time to put the population under lid

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or many countries, a huge population symbolises strength. China, for instance, has a population far bigger than that of the entire African continent and is the world’s second largest economy. But this development did not come without planning. China until recently kept its population at bay with its one-child per couple policy while India, which also boasts of a huge population, encourages some form of family planning. Today, India is coming up strong as a leading manufacturing country, a technologicalsavvy nation, and a destination for medical tourism while Nigeria, the seventh most populous country in the world, has a fertility rate that far outstrips its economic growth.

All factors considered, Nigeria’s problem is not necessarily its growing population. Indeed, Nigeria’s young population could be of great demographic advantage if the policymakers can design appropriate policies. Rather, the main challenge is a JOBLESSNESS AND failure to plan for the FRUSTRATIONS ARE FUELLING THE FREQUENT population that is fast becoming a huge CASES OF UNREST burden. The average ACROSS THE COUNTRY number of births per woman in Nigeria, going by the United Nations Population Fund (UNFPA) statistics, is five.

This doubles the global average of 2.5. Meanwhile, millions of Nigerian women have no access to effective family planning methods for reasons ranging from lack of contraceptives to ignorance and religious beliefs. The contraceptive prevalence rate among Nigerian women aged between 15 and 49 is put at only 19 per cent.

At the present rate of growth, Nigeria’s population is expected to double by 2050, thus becoming the third most populous country in the world after China and India. Yet, a combination of sustained negative economic growth and an uncontrolled demographic bulge has put the country in a very difficult and

Letters to the Editor

potentially explosive situation. And as the population continues to rise amid decaying infrastructure and social services, there are no policy measures to address the demographic danger beyond going on a borrowing binge without repayment plan. It is a simple economic fact that population growth that is not matched with commensurate development in the socio-economic sector and education for the citizenry can only breed chaos.

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

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

he Central Bank of Nigeria (CBN) director of Monetary Policy, Dr. Moses Tule said recently that Nigeria’s population had become a liability and would remain so unless it expands its economic base by stimulating the economy and producing the needed goods and services to sustain it. Figures available paint a dire situation of millions of Nigerian youths roaming the streets looking for work but finding none. More than a dozen million children are also not in school. The situation is compounded by the prevailing economic condition that has necessitated a situation in which rather than hire, many private enterprises now fire their staff in the name of rationalisation.

The danger of such a high level of idleness among millions of young persons is already manifesting in the high level of crimes in virtually every corner of the country. Whereas the multitude of violent outbursts might have religious and ethnic colorations and undertones, it is a notorious fact that most of the people in the fields and trenches are youths who if otherwise meaningfully engaged would have been unavailable for those anti-social endeavours. Joblessness and frustrations are evidently fuelling the frequent cases of unrest across the country.

Nigeria must thus sit up to address the growing population problem. First, we must do a credible head count, stripped of politics to stop the dependence on international agencies for “estimated” figures.

Accurate head count will aid planning. Nigerians also need to be reminded that a sustainable society is the one with moderate population growth that enables its members to achieve a high quality of life.

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

NIGERIA’S HOPE SPRINGS ETERNAL

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ortitude is a fulcrum forged in the furnace of adversity.

And wherever one looks in Nigeria, fortitude shines forth, holding in its glimmer the indestructible strand of resilience and defiance that hope is.

It does not take much or long to be introduced to Nigeria`s treacherous trenches. The six-year-old boy who should be sat in school but is instead hawking awara, that crunchy northern delicacy, under the baking heat of the sun, in no less a place than the Federal Capital Territory, knows only too well that life in Nigeria is war.

The seven-year-old girl who peddles alewa, another sweet northern delicacy, her face coated in thick make-up, walks with her wares under the scorching sun, blissfully oblivious of the fact that she may never wear any school uniform or walk into any classroom. Ever.

And as with every war, all is fair. For many Nigerians, survival is the word they want to hear and no more with the expediency of survival of the fittest music to their ears. The pain that Nigeria has felt as a collective is the pain that confronts children which is compounded by a childish lack of understanding.

But should they know? How much should children know, see or feel? How much should the innocence of childhood be speared by a Nigerian reality that is brutal, bloody and bitter? In the giant of Africa, children are being spared nothing. Yet, they are the future. Whether those most complicit in feeding children to the wolves like it or not, children will outlive and outlast them.

Nigerians are a people of great fortitude. The resilience, the defiance, begins from childhood when many remember their first day in school

for the windows and chairs their classes lacked and the long faces of their poorly remunerated teachers. Many did not even have the dignity of being born in the hospitals as their illiterate, impoverished mothers pushed them out at home under the watchful eyes of midwives or no one at all.

So, from an early age, Nigerians learn to fight tooth and nail. They learn to tempt fate and wrestle with destiny. They learn to scratch and scramble and get by. Many here live from hand to mouth but one will hardly know.

It`s been another difficult year, perhaps, the most difficult of this decade. Insecurity has been rampant while poverty has only deepened.

The frustrations of young people have mounted while those in power have looked increasingly overwhelmed by the sheer depth of Nigeria`s difficulties. It is a year the Nigerian Army will remember for the plane crash that took the life of the former Chief of Army Staff and other senior military officers. The Nigerian Army will also remember the year for the many painful casualties sustained in the many killing fields spread across Nigerians.

There is something especially heartbreaking when young Nigerian soldiers pay the supreme sacrifice in service of a country that is proving to be an impossible task master by the day. Many Nigerian communities will remember this year of bombs and bullets and burning bushes. With many communities sacked and razed by terrorism in its many forms, many communities will remember the year they lost everything.

Nigerian children will remember a year of difficulties and difficult choices. With many falling by the wayside of Nigeria`s troubled

education system. As another year winds down for Nigeria, perhaps, it is time to reflect on what the year brought with a keen eye on the year to come and what to do to sculpt a better future for Nigeria especially for millions of children who are currently out of school or displaced by the now familiar pangs of insecurity.

No country exists without challenges but it is inexcusable that too many challenges rattled Nigerians this year. Millions of naira were raked in by bandits as ransom while thousands who were unable to pay lost their lives as a result. If it was just insecurity, Nigerians would have managed somehow but insecurity has been compounded by poverty.

Now that the year has ended, what can Nigerians look forward to in this year? But as it is, this year may even be more challenging, dominated by the politics of 2023.Politicians are expected to down tools while engaging the Nigerian gods of distraction and misplacement of priorities.

The enemies of the country are expected to go to great lengths to destabilize the country and scuttle the 2023 general elections as much as they can. But whatever happens, Nigerians must keep hope alive safe in the knowledge that a much beloved country will never be overrun by savage criminals. It is not just abroad that the Nigerian spirit has proven to be defiantly unbreakable. Here at home, it has not just proven unbreakable. It has proven that it can break whatever seeks to break it.

In 2022, even as the enemies of the country spin furiously at the wheels of death, Nigerians must go again. It is as simple as that.

Kene Obiezu, keneobiezu@gmail.com

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MIDWEEKPOLITICS

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

From Marginal Aspirant, Hope Rises for Yahaya Bello From being considered a marginal aspirant for the presidential ticket of the All Progressives Congress, Governor Yahaya Adoza Bello is increasingly engaging critical segments that may decide the party’s presidential ticket in his favour, writes Nseobong Okon-Ekong

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teadily the resoluteness with which Governor Yahaya Adoza Bello of Kogi State is approaching his interest to become President of Nigeria is becoming apparent to stakeholders in the All Progressives Congress (APC). From being considered a marginal aspirant for the country’s highest public office, he is increasingly engaging critical segments that can decide the party’s presidential ticket in his favour. His single-minded campaign for membership for the APC, which should be rewarded, was glaring during the window for registration of new members opened by the party’s Caretaker and Extraordinary Convention Planning Committee.

It is true that Bello initially struggled with a lot of issues at the beginning of his administration. Mainly due to the circumstances of his emergence as governor, a couple of vested interests who could not have their way, as Providence clearly charted his path, resorted to make governance of the state difficult for him. But that was before he learnt the ropes. Like an artful pugilist, the Kogi Governor has since mastered the ring and began to inflict telling blows on his political opponents, while making visible advancement in development.

Under Bello’s watch, Kogi State has gone up the ladder of States that comply with the United Nations Millenium Development Goals in Nigeria. One of the areas that Kogi has improved vastly is in the area of gender inclusiveness.

Sharing borders with nine states comes with daunting security challenges. It is still a marvel how Bello has managed to significantly reverse the trend created a lot of ungovernable spaces in Kogi.

Apparently, he is alive to the fact the primary responsibility of government is the protection of lives and property.

Aware that he was carrying the hopes of many younger people, Bello, the youngest governor in Nigeria, has approached governance with the deliberate intention to change the long held notion that youths cannot handle that magnitude of enormous responsibility. Today, he is the toast of many leading youth groups who point to his exemplary leadership style and achievements in the governance of Kogi State. His record of youth participation in leadership is impressive, as many young men and women have been given a chance to prove their mettle, having been saddled with various positions of responsibility.

As intriguing as the religious, cultural and ethnic composition of Kogi State is, Bello has been able to strike the delicate balance in that multi-ethnic, multireligious and multi-lingual setting. How he is able to ensure peaceful coexistence of the people is a miracle. The difference in ethnicities has provided the Kogi governor an opportunity to practice inclusiveness in governance.

It is on record that the first three appoint- ments of the governor immediately after his inauguration on January 27, 2016, were spread across the three Senatorial Districts. Hon. Edward Onoja from Kogi East became the first Chief of Staff in Kogi State to emerge from a zone different from that of the Governor. His SA Media was appointed from Kogi Central and his CPS from Kogi West.

“Bello is the man we have been waiting for. He is like a nucleus and he is a man who understands the dynamics of governance,” said an influential member of the APC in Kogi.

He said: “Kogi State has never had it so good and for Governor Yahaya Bello to achieve so much with the resources

Bello

available in the state; he will do more if given the op- portunity to rule Nigeria as President after the end of the tenure of President Muhammadu Buhari in 2023.”

Kogi State was previously divided along ethnic lines, corroded by disunity as politicians planted division in the minds of our people for their sel sh political gains.

Among all the serving and former governors who are known to be interested in the presidency, Bello, arguably, is the only one who has managed to advance his case with the active support National Assembly members from his state.

In Bello’s corner are Senator Smart Adeyemi, Chairman, Senate Committee on Aviation, who was the Director General of his second term governorship campaign, as well as, two other members of the Senate from Kogi State: Senators Yakubu Oseni, representing Kogi Sentral and Isah Jubrin, representing Kogi East.

These Senators have been harping on the need to elect a young and energetic president in 2023 to lead the nation. According to them the governor has programmes

and policies that are exclusive to him with which he will grow and develop the nation and thrusting Nigeria up among the leading countries of the world, adding that the economy of Kogi state since the inception of the governor in office experienced a tremendous leap for better.

This experience in successfully serving a complex society like Kogi State may prove very useful in his quest for the Nigerian presidency.

Therefore, it is not totally surprising that more Nigerians from all walks of life are signing up for the Yahaya Bello Movement. He is now the beautiful bride, courted by professionals and discerning influential individuals. But the Kogi is also careful about his associates. For instance, he chooses to collaborate with journalists. A recent public engagement with the Fourth Estate of the Realm was the maiden GYB Seminar for Political and Crime Correspondents in Abuja.

Many critics were surprised that Bello could be so open; listening to and expressing his own opinion.

He urged journalists to work in

As intriguing as the religious, cultural and ethnic composition of Kogi State is, Bello has been able to strike the delicate balance in that multi-ethnic, multi-religious and multi-lingual setting. How he is able to ensure peaceful coexistence of the people is a miracle. The difference in ethnicities has provided the Kogi governor an opportunity to practice inclusiveness in governance

line with their mandates as they play a key role in setting the agenda for good governance. He said that having a more united and secured Nigeria from 2023 and beyond lies in the hands of journalists through responsible reportage. Bello added that any politician seeking any position is there to serve the citizens.

“How prepared we are for a better Nigeria depends on how we have to set the agenda for those in governance,” he said.

“Politicians seek to serve you which means you are hiring a servant, and so, you should be able to set the criteria and tone because those who hire dictate the terms.”

One of pressure groups that has canvassing Bello’s interest in the presidency is the Global Alliance of Public and Private Professionals, GAP3, for PYB. National Co-ordinator of GAP3, Hon Ahmed Chikaj, said the group is a movement peopled by professionals and citizens across the country and it is aimed at bridging the divides in the Nigerian political space to also rally support for Governor Bello, who he stated has surpassed his campaign promises to the people of Kogi state, a feat, he said Nigerians are yearning for at the centre in 2023.

Chikaji said the group desires to kick-start the process of birthing a new Nigeria led by a young and visionary leader to take the country out of the woods of unhealthy ethnic relationship that he said has characterised the country in the past.

He called on Nigerians to support the governor for the presidency in 2023, Adeyemi averred that a leader like Governor Bello is rare, noting that he is a definition of humility.

Bello was sworn-in on January 27, 2016 as the fourth democratically elected Governor of Kogi State without a deputy having won the re-run election.

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POLITICS

What Soludo’s Emergence as Governor-elect Means to South East

GOVERNANCE IN PHOTOS

Ike Chioke believes that the election of Professor Chukwuma Soludo as Governor-elect of Anambra State is the trigger that will ignite a revolution in South-east politics

Soludo

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n November 6, 2021, the people of Anambra State set high standards for their neighbours in the South-east region and beyond when they voted Chukwuma Soludo, a Professor of Economics, former Central Bank of Nigeria governor and one of Africa’s leading critical thinkers, into office as their governor. The whole country had waited with baited breath during the campaign. The question on everyone’s mind was, would merit finally overwhelm mediocrity in Nigeria’s politics?

Soludo’s landslide victory has raised hopes of a better day for Nigeria, but more so for the South-east region which has been afflicted by a crippling vacuum in political leadership for decades. Indeed, since the demise of the great Owelle of Onitsha, Dr Nnamdi Azikiwe, and Chukwuemeka Odimegwu-Ojukwu, Southeast Nigeria has grappled with the weight of uninspiring political leadership, which lacks the strength of character to awaken the people. The cost of this prolonged leadership vacuum has been high in economics and blood. It is understandable that Soludo’s victory should raise hopes; hope that tenacity would always pay off; hope that the Nigerian society has a capacity to redeem itself and hope that given the right conditions, the best amongst us may get a chance to lead us.

A sense of justice pervades Soludo’s emergence. In 2010, he had lost his first stab at becoming a governor to Peter Obi. Unfazed by that experience, Soludo had relaunched his bid for the office of governor in 2013 but was disqualified by the All Progressives Grand Alliance (APGA) Screening Committee. He did not allow the experience to shake his loyalty to the party. And on March 31, 2021, he survived the greatest obstacle to his dream of becoming governor when he escaped unhurt from a violent attack by gunmen who disrupted his engagement with the youth of his Isuofia hometown. A faint-hearted candidate would have ended the journey that day, but Soludo trudged on. The underlying lesson here is that if the force of our dream is not strong enough to survive the fire of adversity, we fall by the wayside.

Soludo is not alone. Igboland has a long line of bright minds who had shown a great deal of interest in providing political leadership to the people. Before Soludo’s success, Prof Barth Nnaji had made a silent bid to lead Enugu State but was discouraged by the blood and gore that marked the politics of the state at the time. Nnaji is extraordinary.

He is cited as the first black man in American history to become a distinguished Professor of Engineering; the first African to become director of the United States National Science Foundation; and the first Nigerian to win the Baker Distinguished Research Award, which is widely considered as the Nobel Prize for Industrial Engineering. Beyond

all these, Nnaji is renowned for his expertise in Artificial Intelligence and Robotics.

Nnaji shied away from Enugu politics and never looked back. What a loss! Yet, it is one loss that has worsened the pathetic state of political leadership in the region. In the absence of candidates with outstanding profiles, the South-east has suffered in the hands of career politicians and professional power mongers who have no imagination to engage the future. At a time when the region needs first class thinkers to wipe out the consequences of the indifference of the Federal Government to its plight, successive governors in the South-east have shown a regrettably poor grasp of nuance and utter lack of imagination to chart a new path.

They have largely resorted to playing the victim where they should have played the revolutionary, and opted for self-serving stratagems where conscionable populism would have served a greater purpose. Since everyone is aware of a deliberate attempt by the federal government to deny the South-east of its fair share of investments, the challenge is for the leadership to wend its way around the neglect to negotiate new frontiers of excellence.

At the moment, only Willie Obiano of Anambra State and Dave Umahi of Ebonyi State have demonstrated that with a wise and competent management of resources, the South-east can erase her infrastructural deficits. Unfortunately, Obiano and Umahi are oases in a desert of crippling incompetence.

Regrettably, the lack of inspirational leaders has laid the region bare for hotheads and anarchists to rob our people of peaceful sleep.

The growing insecurity in the South-east has crippled economies and wrenched food off dining tables. The results were telling this Christmas. Igboland was a shadow of itself.

The footprints into South-east had decreased.

Most village squares were empty. The streets lacked vigour. The unknown gunmen have driven the final nail in the economic coffin of the South-east under the watch of our political leaders! Soludo’s emergence is therefore the proverbial trumpet call. Igboland has lived in denial enough. Our destiny is in our own hands. We are the change we seek. The time of pointing fingers at imaginary enemies is over. We must accept responsibility for our current situation and think our way out of it. We must roll up our sleeves to enthrone a new order of reality. Again, the All Progressives Grand Alliance (APGA) offers us a creative window to change the game. APGA’s Manifesto insists that the party must “attract the best and brightest into our politics and public service by aggressive recruitment of private sector people, academics and professionals within Nigeria and in the diaspora through internships, fellowships, executive appointments and special nominations to contest elective offices.” Here is a party that has resolved to give a chance to Nigeria’s best and brightest. Here is a party that has chosen to cast its net beyond the career politicians. Governor Obiano came to office as a technocrat. Prof Soludo will take over as an academic and highflying public intellectual with an impressive record of service. That is inspiring! Word on the street is that Soludo is the trigger that will ignite a revolution in South-east politics and the search for regenerated leadership. It is hoped that the former CBN governor is fully aware that as the next leader of APGA, he has a historic obligation to finally build the party into a formidable political movement. The current political temperature of the region is amenable to change. A reinvigorated and refocused APGA is a major component of that change.

-Chioke, Managing Director of Afrinvest, writes from Lagos.

L-R: Speaker, House of Representatives, Rt. Hon. Femi Gbajabiamila; Surulere APC Chieftain, Ade Koiki and Surulere APC Chieftain, Kunle Ogunkoya at the official commissioning of Mabo-Fashoro- Bishop Link Road, Surulere - Mushin Boundary Road, Lagos by the Speaker

L-R: Minister Niger Delta Affairs, Senator Godswill Akpabio, Interim Administrator, NDDC, Dr Effiong Akwa and the Vice Chancellor University of Uyo, Professor Nyaudoh Ndaeyoh, during the commissioning of the 1050 Bed Space Hostel, donated by the NDDC to the University of Uyo

L-R: First Lady, Ekiti State, Erelu Bisi Fayemi; with Baby Odeh; Father, of the Baby, Mr Christian Odeh; and Mother, Mrs Oluwatosin Odeh; during the presentation of cash and gift items to the First Baby of the year at the Comprehensive Health Centre, Aisegba Ekiti

L-R: Wife of the Speaker of the House of Representatives, Salamatu Gbajabiamila, her husband, Rt. Hon. Femi Gbajabiamila; Head of Nurse, Gbaja Maternal and Child Care Centre, Surulere, Lagos, Mrs. Elizabeth Omoyeni at the unveiling of first babies of the Year 2022, a set of triplets of Okotie family in Surulere, Lagos

T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430

Building a Legacy of Empowering the Youths The federal lawmaker representing Abia Central Senatorial District at the National Assembly, Senator Theodore Orji, recently held the sixth edition of his annual scholarship programme in Umuahia targeted at building capacity of youths to prepare them as future leaders. Charles Ajunwa, Chiemelie Ezeobi and Emmanuel Ugwu-Nwogo, who witnessed the disbursement of cheques to 241 beneficiaries, write that the sustenance and expansion of the scheme, was based on the legacy of giving and goodwill impacted on his children over the years

Orji and wife, Mercy, flanked by beneficiaries of the 6th annual scholarship scheme

Orji presenting laptop and cheque to the overall best student at the 6th annual scholarship scheme held in Umuahia...recently

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rain up a child in the way he should grow and when he is old, he will not depart from it', so says the popular Bible scripture. For the family of Senator Theodore Ahamefula Orji, this scripture rings true. Over the years, his nature and passion for giving have been passed down to his children, who have picked the gauntlet and are running with it.

This much was evident at the recently held Senator T.A. Orji Annual Scholarship Awards, which incidentally was its sixth edition. His son Ugonna Orji, who was visibly present, as well as his other siblings- Speaker Abia State House of Assembly, Rt. Hon. Chinedum Orji, Mr. Chiemeka Orji, Mr. Chika Orji, and Mrs. Nneoma Ararume (Nee Orji), had made sure the scheme did not die, rather it increased exponentially.

Over 600 students have so far benefitted from the scheme, which has been running over the past six years with the number of beneficiaries increasing annually.

Sixth Edition Scholarship At the International Conference Centre in Umuahia, venue of the scholarship bequeathing, guests and beneficiaries thronged the massive hall. Coincidentally, the centre was built by Senator Orji when he was the governor of the state.

According to the federal lawmaker, the sustenance and expansion of his annual scholarship programme was aimed at building capacity of youths to prepare them as future leaders.

At the event , 241 students from Abia Central studying in various universities across the country were given scholarships worth N24.1 million and according to the former Abia governor, it was not enough to keep saying that youths are leaders of tomorrow without giving them quality education to prepare them for the future leadership role.

“We have to encourage those growing up by giving them good education. I want them to be responsible people in the society by graduating in various professional fields, including Medicine, Engineering, Law, among others. This is a legacy I want to leave behind,” he said.

The two term senator, who was accompanied by his wife, Mrs. Mercy Odochi Orji, urged the beneficiaries “to make us proud by coming out in flying colours” thereby carving out enviable identity as products of Ochendo scholarship scheme. Orji also thanked his wife and children for rallying round him through their individual supports to ensure that annual scholarship scheme sees light of the day In his remarks, the state Governor, Dr. Okezie Ikpeazu, commended his predecessor

ovation. Afterwards, the beneficiaries were awarded their respective grants.

Orji receiving an art work produced by one of the beneficiaries of the annual scholarship scheme for the “great sacrifices” he has been making to give Abia youths bright future by sustaining his scholarship programme.

The governor, who was represented by his Deputy, Sir Ude Oko Chukwu, noted that the most striking aspect of the scholarship scheme is that no political motive is attached to it. This is because Senator Orji has already stated unequivocally that he would not be contesting for any elective position after completing his second term in the red chamber in 2023.

He urged the students to reciprocate the gesture of their senator by being serious with their studies by shunning anti-social behaviours like drug abusive, “so that you don’t destroy yourself and destroy the society.”

Earlier in his address the Chairman

of the occasion, Professor Uche Ikonne, described the former Abia governor as a lover of people which is the reason he has been engaged in doing things that give happiness to the people.

He said that Senator Orji has “already planted a culture of giving in his family and it is generational”, adding that the former governor has recognised education as the biggest legacy one can give hence his involvement in scholarships.

Ikonne, who is the immediate past ViceChancellor of the Abia State University Uturu (ABSU), urged the recipients of the scholarship to recognise the fact that Senator Orji “is building your future” and maximise the opportunity.

Also, to thrill the teeming guests, Kcee the Limpopo crooner mounted the stage while singing his popular songs. He soon veered to his recent releases on cultural praise, which got the hall dancing. However, it was Veteran Nollywood actor, Chinwetalu Agu, that got the hall into a frenzy. He sent the crowd cracking with his popular slogans, eliciting a thunderous

It is my passion to impact people, especially the youth, that brought about the scholarship scheme. I’ve grown to know that innovation is the best empowerment you can give to any person. If I wasn’t empowered educationally I don’t think I’d reach this height now in this world. Therefore, I want people, especially youth, to ascend to the apex of their ambition

Beneficiaries Although 240 beneficiaries were picked initially, at the end of the day, 241 persons benefitted. THISDAY checks revealed that the extra person that was added was a widow who had come with her daughter with hopes even though they did not make the list. Her hope paid off as her daughter joined others to receive the educational grant.

The breakdown of the beneficiaries were 141 males and 100 females. While 91 students were from Abia State University, 48 were from Michael Okpara University of Agriculture, Umudike, 28 from Abia State Polytechnic, 11 from Imo State University, 13 from Ebonyi State University, seven from University of Nigeria, Nsukka; 14 from Federal University of Technology, Owerri; eight from University of Lagos, two from Kwame Nkrumah University of Science and Technology, five from University of Abuja and 12 from Alex Ekwueme Federal University, Ebonyi.

In an interview with THISDAY, Amarachi Grace Nwankwo, a 300-Level Computer Science student of Michael Okpara University of Agriculture Umudike (MOUAU), was overjoyed.

In addition to the scholarship award, she also won a brand new laptop for being the first applicant to register online for the sixth edition of the scholarship.

Sharing her journey she said: "It has not been easy for me at school. My mother has been managing to train me. This scholarship will help me a lot. The laptop they gave me is a big surprise. I shed tears on the stage. I never expected to win a laptop.

"After I was invited to the office of the Ochendo Scholarship programme at Ogurube Layout, Umuahia, I thought it was a scam.

I didn't even know the location of Ogurube Layout in the capital city. In fact, my sister even asked me not to go fearing I might fall into the hands of scammers, but a friend encouraged me to go and give it a try since I had already applied. On getting to the scholarship office, I saw other students who came for the interview and it was then that my doubts and fears disappeared."

Inclusivity for Special Needs Students Another highpoint about the selection of beneficiaries was that this year, three special needs students were added.

Speaking to THISDAY, Chioma Precious Ekoro, a 400-Level, Guidance and Counselling, University of Nigeria, Nsukka, who is visually impaired said: "I got to know about the scholarship programme through a friend who was a beneficiary. Although I'm already

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T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

FEATURES

Wife of the Senator, Mrs. Mercy Orji presenting cheques to three visually impaired stu- Senator Theodore Orji and wife, Mercy, at the 6th edition of the Senator's annual scholardents from University of Nigeria, Nsukka ship scheme held at International Conference Centre, Umuahia....recently in the final year of my university programme, the scholarship award will help me a lot. I have some debts to settle which I incurred along the way and I still have a semester to run before I graduate.

"Things have not been easy for me all along.

Apart from financial problems we also face problem of discrimination among fellow students because of our condition. Ochendo has made us proud. The money will help us a lot. We are really happy."

Another special needs student, Joy Ogbonna, a 200-Level, Psychology student of UNN said: "I heard about the scholarship on radio. I believed it was for real, that was why I applied and luckily for me I came out among the successful applicants.

"As visually impaired persons, we spend more than other students. Apart from buying books, we buy other materials and gadgets that we need in our studies. This scholarship money will help me a lot to take care of the things I need. God has been faithful to me all these years. This scholarship is one of such ways God has been helping me."

For Ukiro Chizaram, a 300-level student studying Special Education, her sojourn to further her education against all odds and selection for the scholarship have just been by the grace of God. She said: "I applied for it. It’s just by God’s grace I got it." On how she has been coping financially before she got the scholarship, she said, "It has been so difficult for me. But all is just on God and the help of other people."

For the orphan, she has been coping with the help of other people, which explained her joy over the scholarship. "This scholarship will go a long for me more, especially the writing of my project and other things.

"I am studying Special Education and what I have in mind is teaching. When I am done with school, I will go into teaching. I hope to pass my knowledge to the world and in any inclusive school."

On how her journey into the special needs world started she said: "When I was growing up, I noticed I had short sightedness. All of a sudden when I woke up from sleep, I found out that I couldn’t see again. I was 14 years old at that time. So from then till now, I have been managing It." Passion to Empower Afterwards in an exclusive interview with THISDAY, the senator divulged what gave birth to this initiative, which is in its sixth year.

He said: "It is my passion to impact people, especially the youth, that brought about the scholarship scheme. I’ve grown to know that innovation is the best empowerment you can give to any person. If I wasn’t empowered educationally I don’t think I’d reach this height now in this world. Therefore, I want people, especially youth, to ascend to the apex of their ambition.

"And the easiest and surest way for them to do it is through education. That’s why I embarked on this project so we can help to uplift those who don’t have the resources to train themselves or to be trained to become something in life. When somebody is trained or educated, he is disciplined and he knows how to handle affairs in the world, in his family, and everywhere. From history, you also know that education is the greatest empowerment you can give to any human being. That's why I like it and I’m doing it."

On how he intends to sustain the venture he noted that "I said it before that even when I

retire - I'll retire in 2023 - my children are already taking up the legacy. They will sustain it for me. I have children who are also passionate about what I’m doing. This last one that we did now which I know what it costs us, all my children were involved. The speaker was involved. My daughter, who is not here, was involved.

Chinedum, Ugonna, Chiemeka and Chika, then Nneoma and my wife were part of it. They all contributed and then my friends and relatives put in to make sure this became a success. And today you see it was a very big success and we hope that next year will be better. As the year is progressing it will be better.

That’s what I believe."

Given that he has vowed to step down from active politics in 2023, one would wonder why he is still carrying on with the scholarship scheme despite not having any future political ambition.

On this he said: "That’s my passion to continue touching lives. 2023, I’ve said I'll make way for the younger generation to ascend. I can’t be a senator for life. So I’ll make way now so somebody else will fit into my shoes and represent Abia Central.

I’ll support the person very well. Life is like a stage; when you come, you play your part and go, then another person will come and play. You can’t be a permanent actor or else people will get tired of you.

I decided long ago that by 2023 I’ll retire from active politics."

Tackling Drug Abuse in the East One of the menace bedeviling the South-east is drug abuse. Speaking on this, the senator said the (National Drug Law and Enforcement Agency (NDLEA) boss, Buba Marwa must be encouraged so that drugs won’t flow into Nigeria.

"It’s difficult to stop it outright but you’ll make sure it doesn’t come in. If it comes in, it’ll be very minimal. When the drugs don’t come in, our youth won’t see drugs to take. But we advise these boys and girls on scholarship, they won’t involve themselves in that kind of thing and start behaving like lunatics. Who would like to be a mad man? Nobody. You’ve gone to the university to face education. Get the education first, get the certificate even if you don’t get job immediately, the job will come one day. You don’t go there and start involving yourself in other drugs that’ll be injurious and harmful to your health. You may take it and not notice the effects, but the after effects is what you’ll suffer.

"So I follow in advising these children, these young ones to try to avoid anything drug, cult. Let them be on their own.

You can do that in the university without anything happening to you. Some of these people taking drugs are people who are perpetual students. They don’t pass exams.

Every year they repeat because they’re

involved in drugs and cultism. So, every reasonable person, I believe those I gave scholarships today and those I’ve given are reasonable people because I’ve not heard any of them get involved in this kind of thing. And they’ll keep it up."

Second Chance One beautiful thing about the scholarship is that brilliant beneficiaries get a second chance to apply for another grant.

Confirming this, the senator said those that have been given scholarships already that are bright ones, have unfettered access to apply again once they are qualified.

"Of course, it’s open for name at any time. Once you’re qualified, we give you once you meet the criteria for our scholarship. We have set down rules. Once you follow the rules and get it, we’ll give you. So we don’t discriminate. We don’t say you’ve gotten before. It’s for every person, every year. So if you’ve gotten this year and the money isn’t enough for you, apply next year. If you qualify, we will give you," he added.

Selection Guideline Going down memory lane, Chief Liaison Officer to Senator Orji, Ifeanyi Umere, said: "We started in 2015 with 60 students per year, 10 per local government. The next year was 100 and on the sixth edition we made it 241- unprecedented. It’s amazing.

It’s a character of the senator- that’s what he represents. He said he was challenged when he was a kid going to school and he vowed that if God blesses him, he will devote his resources to support education."

Giving further insight to the selection guideline, he said: "Simple, you must be a constituent of Abia Central Senatorial District and its local government areas and you must be an undergraduate of the university.

You must not know anybody who knows anybody who knows anybody. You just apply on the website and we look at your performance and results. We have brilliant and indigent students, so we combine them.

"It is not about Abia school. As far as you’re from Abia Central, you can be in University of Maiduguri or Damaturu, it doesn’t matter. What matters is that you must be an Abia constituent and you must apply for the process. It is transparent.

We must verify that you’re from Abia Central by your LGA and then check your origin and that’s it.

On post evaluation, he said they follow up on past recipients. "At this programme, we saw those former recipients coming to appreciate the senator. We have a record so we follow them. We follow them up."

Commendations In his vote of thanks, Chairman, Selection Committee, Chief Emma Nwabuko

Senator T. A. Orji is directly fighting the surge of drugs abuse mainly mkpuru mmiri (illicit drugs) among our youths by sending and encouraging our youths to go school and study in order to become better persons and great leaders of tomorrow

commended the senator, adding that what he has done was to give the beneficiaries a life line.

He said: "He has shown you how to fish.

We thank him for this goodwill. This runs in the family so we are not surprised at what he has done. This investment is one of the best because he invested in the future. Look at the crowd, it because of the goodwill everybody in the family has.

"241 beneficiaries are not a joke. People are smiling home because those who would have ordinarily fallen by the way side will now have means to continue with their education. God will bless you and Osinulo (the senator's wife) and your family for this gesture."

Also commending the senator for the laudable gesture, the Coalition of South East Youth Leaders (COSEYL), the umbrella body of all the youth groups in the South-east geopolitical zone, said the scholarship scheme is a clear testament to the fact that the senator is a man of many parts who loves his people so dearly.

In a statement signed by its President General, Hon. Goodluck Egwu Ibem, they said: "Education is the best gift a father can bequeath his children. It is the key to a successful future and generational advancement and development of any nation. Ochendo Global has developed an academic set-up that will make our society a better place.

"We have seen how so many people who were elected by the electorate to serve them failed woefully on the mandate given to them by the people. But Distinguished Senator T. A. Orji has proved beyond every reasonable doubt that political office is about sacrifice and service to the people who elected them into office.

"So many political office holders who initiated good programmes like what Ochendo Global has done find it difficult to sustain the programme for a reasonable period of time.

Ochendo Global when he was elected the a Senator to represent Abia Central Senatorial zone initiated the scholarship scheme, empowerment programmes and other people-oriented programmes without reneging still date.

"Senator Theodore Ahamefula Orji is indeed an institution who other political leaders and future inspiring leaders should emulate and learn from. What Ochendo is doing in Igboland is what Chief Obafemi Awolowo and Dr. Michael Okpara did so many years ago for the people.

Senator T. A. Orji has shown that he believes in the vision and mission of our founding fathers.

"History will indeed remember Senator T. A. Orji as a man who did so much to advance the course of his people. He is a man who came saw and conquered.

"Senator T. A. Orji is directly fighting the surge of drugs abuse mainly mkpuru mmiri (illicit drugs) among our youths by sending and encouraging our youths to go school and study in order to become better persons and great leaders of tomorrow.

"A society without educated youths have no future leaders. The youths can only be leaders of tomorrow if they are educated. Ochendo Global has performed beyond human expectations in building the future leaders of tomorrow.

"Senator Orji said that he will retire from active politics in 2023 and instead of reducing the number of his scholarship beneficiaries as most politicians would have done, he increased the number of students to a total number of 240 students for the scholarship scheme. Ochendo has shown that he is a selfless leader.

"We urge other people who are in political office to emulate this great man who has done so much to better the lives of our youths, men and women in our society."

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T H I S D AY ˾ WEDNESDAY, JANUARY 5, 2022

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BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

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

08056356325

J A N U A R Y

S & P INDEX

4 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

14.00%

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6%

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10%

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ASeM, Industrial Goods Lead NGX Worst Performing Indices in 2021

Kayode Tokede Despite the Nigerian Exchange Limited (NGX) All-Share Index or ASI closing positive, two sectors, the Alternative Securities Market (ASeM) and Industrial Goods indices have emerged as worst performing on the bourse in 2021.

Analysis of market performance for 2021 revealed that while the NGX ASI closed 2021 with a gain of 6.07 per cent to 42,716.44 basis points, the ASeM and Industrial goods indices depreciated by 8.11per cent and 2.15per cent respectively.

THISDAY checks revealed that

investors’ profit-taking in the two indices heavy-weight affected overall performances in the year under review.

Specifically, investors’ profit-taking in Juli Plc weakened the ASeM index, while downward in stock price of BUA Cement Plc depreciated the industrial good index in 2021.

The stock price of BUA cement dropped by 13.32 per cent to N67.05 in 2021 from N77.35 it opened for trading.

BUA cement’s 13.3 per cent decline in stock price was related to its Basic Earnings Per Share.

The company closed nine months

ended September 30, 2021 with N0.66 Basic Earnings Per Share as against N0.55 recorded in prior nine months of 2020.

“For BUA cement, the stock price in 2021 was not commensurate with the company’s Basic Earnings Per Share and investors decided to selloff, ””said Capital market analyst, Mr. Rotimi Fakeyejo.

Other stocks in the industrial goods recorded decline in the year on the heels of poor corporate earnings.

For einstance, stock price of CAP Plc dropped by 2.75 per cent to close at N19.45 from N20.00 it opened in 2021, while Beta Glass Plc.

Dropped by 4.4 per cent to N52.95 from N55.40.

Four companies are listed on the AseM board of the Exchange such as; Smart Products Nigeria Plc, Capital Oil Plc and Rak Unity Pet. Company Plc that closed flat last year.

The stock price of Juli dropped by nearly 40 per cent to N0.91 in 2021 from N1.51, while Smart Products Nigeria traded flat at N0.20 for the second consecutive year.

Both Capital Oil and Rak Unity Pet. Company also traded flat N0.2 and N0.30 in 2021 respectively.

Reacting on the AseM index poor performance, analyst at

PAC Holdings, Mr. Wole Adeyeye attributed the decline to investors profit-taking in Juli.

According to him: “The share price of Juli declined by 39.74 per cent to N0.91 kobo in 2021. The prices of other stocks under ASeM Index (such as Smart Products Nigeria Plc, Capital Oil Plc, Rak Unity Pet. Comp.

Plc) remained flat in 2021.

“Of course, investors are expected to react over the company’s poor corporate earnings due to economy challenges. Juli in 2020 financial year reported N56.5million loss as against N1.57million loss reported in 2019.”

The Chief Executive Officer,

Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf said the manufacturing sector in Nigeria is too dependent on import, which is a major shortcoming of the Nigerian manufacturing sector.

According to him: “The sector accounts for about three per cent of foreign exchange earnings andover 30% of import bill. This demonstrates that the sector is not properly aligned with the vision of self-reliance being promoted by the current government.

“Local value addition is still very weak. The most sustainable segment Continued on page 26

Banking Industry Credit Rises to N23.5trn as MFBs, OFIs Disbursed N2.8trn Loans in 2021 Nume Ekeghe The Central Bank of Nigeria has stated that banking industry credit in 2021 reached N 23.5 trillion with Other Financial Institutions (OFIs); comprising of Microfinance Banks, Development Banks, Merchant banks and mortgage banks contributing N2.79 trillion, representing 10.62 per cent of banking industry credit.

This was revealed in the personal statements of Monetary Policy Committee (MPC) members at their last meeting held in November last year released recently.

A member of the MPC, Adenikinju Festus, in his statement at the end of the meeting noted that as at October last year, banking industry credit had been on the rise.

He noted that the CBN intervention

funds have been a major factor in the rise in the banking industry credit, stating, “All measures of industry size, bank credit, assets and deposits were higher than the corresponding values in October 2020. Of particular interest is the growth in bank industry credit, which rose from N19.39 trillion in October 2020 to N23.49 trillion in October 2021.

“The Development Financing

Report showed the aggregate and sectoral decomposition of central bank interventions in the economy. The sectoral breakdown as well as geopolitical breakdown of the intervention showed that core sectors of the economy and Nigerians from different geopolitical zones have benefitted from the intervention funds.

“Nigerians, who otherwise would not have been able to access credit

from the formal market have been able to benefit from the intervention funds. The CBN interventions have boosted both the demand and real sides of the economy. Boosting the demand side is extremely critical given the size of consumption in the aggregate GDP as well as the huge compression on real income caused by COVID-19. The increase in aggregate supply also has the capacity

to increase GDP as well as lower general price level.”

Meanwhile, he noted that despite improvement in the non-oil revenue of the country, its ratio to the Gross Domestic Product (GDP), “is still too low and there is space for both non-oil and oil revenues to expand to boost the capacity of the governments at all levels to deliver on their promises to the Nigerian people.”

M A R K E T D ATA A S AT T U E S D AY, J A N U A R Y 4 , 2 0 2 2 FGN BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

BILLS Change (%)

106.48

7.45

-0.04

109.84

9.12

-0.02

107.93

10.54 -0.01

103.89

11.27 0.00

115.05

12.27 -0.01

MATURITY NTB 13-Jan2022 NTB 10-Feb2022 NTB 10-Mar2022 NTB 28-Apr2022 NTB 12-May2022

OTC FX F U T U R E S

Discount Yield Change (%)

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

C Ps MATURITY

Discount Yield

Change (%)

9.18

9.27

0.00

9.49

9.79

0.00

16.69

17.83 0.00

9.42

9.77

0.00

.

.

.

3.69

3.69 0.00

4.00

4.02 0.00

2

NGUS JAN 26 2022 422.61

2.98

3.00 0.00

3

NGUS FEB 23 2022 424.04

4.50

4.56 0.00

4

NGUS MAR 30 2022 425.46

MREP CP XXXVI 11-FEB-22 UNCP CP VI 2-MAY-22 NEVE CP I 24MAY-22 DANC CP II 25MAY-22

4.00

4.06 0.00

5

NGUS APR 27 2022 426.89

.

NGUS DEC 29 2021 421.18

26

WEDNESDAY, JANUARY 5, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

NIGERIAN TOURISM DELEGATION TO TURKEY…

L-R: President, Boder the Hotel Association of Bodrum, Omer F. Dengiz; Ozge Gunay Cetinkaya of Kartaca Turizm Ambassador of Tourism for Africa Ikechi Uko; Mayor of Bodrum, Turkey, Ahmet Aras; Cecile Mambo Doumbe of CMD Tours; Secretary General, Boder Hotel Association of Bdrum, Gitig Girgin; Gizem Olgun of Kartaca Turizm; and Adebayo Ajayi of Travel Sultan of A’Bay Tours , during the visit of Nigerian Delegation to the office of Mayor of Bodrum in Turkey… recently

Despite FG’s Assurances, Cement Prices Soar Unabated James Emejo in Abuja The federal government has failed to rein in the rising prices of cement in the country, despite earlier assurances to helpless Nigerians, THISDAY findings reveal.

The unit price of cement had been on a consistent rise in the past one-year, with no end in sight for a possible reduction.

In January last year when the commodity sold for about N3, 800, the federal government while lamenting the rising prices, attributed the trend to production challenges, adding that it was engaging stakeholders in the industry to address the issue.

Cement prices had since risen by over 50 per cent, in spite of the assurances by the government to arrest the situation, raising concerns

by Nigerians.

The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, had urged the public not to embark on panic buying and storage of the product as the current market price was temporary.

He said that discussion between the government and cement manufacturers was being ramped up in order to meet the increased demand of the commodity.

Nonetheless, the retail price of cement in Abuja and its environs is currently at over N5, 000.

The minister had blamed the hike in the price of cement on reduction in production volumes in the second and third quarters of 2020 as a result of the COVID-19 pandemic, the EndSARS protests as well as downtimes in some manufacturing plants.

Adebayo said the development affected the volume of stockpile in the supply chain due to the

reduction of cash flow to major distributors as well as high cost of transportation.

He further observed that there had been massive build-up of demand from public works contractors as they strive to

meet milestones and deadlines on projects across the country.

He further assured the public that government would continue to be on the alert to its responsibility of ensuring goods and services are available at reasonable prices.

But, one year on, amidst economic recovery and normalization of business activities, the government is yet to assuage the concerns of Nigerians by finding lasting solution to the rising cement prices in the country.

Analysts believed the trend could hamper efforts to close the existing housing deficit as well as lead to abandonment of ongoing construction projects by both public and private individuals because of the high cost of the commodity

and associated building materials.

Already house rent has more than doubled within the Federal Capital Territory (FCT) as a direct consequence of cement price hike, causing further economic hardship for Nigerians.

SEC Reminds Fund Managers to Pay Regulatory Fees Before Jan 31 Kayode Tokede The Securities and Exchange Commission (SEC) has reminded fund managers that payment of the annual supervisory fee to the commission becomes due from the 1st January 2022 directing that full payment must be made on or before 31st January 2022.

This was contained in a Circular released by the SEC at the Weekend.

According to SEC: “The Commission hereby draws the attention of all registered Fund/

Portfolio Managers to the SEC Rule on Annual Supervision Fees for Collective Investment Schemes (CIS) and Regulatory Fees for Discretionary and NonDiscretionary Funds/Portfolios issued on January, 21 2021 and the amendment thereto issued on December 20, 2021.

The Circular stated that the payment for 2021 annual supervisory fee shall be based on the value of Net Asset Value (NAV) as at December 31st 2021 and Annual Regulatory

fee for Discretionary and NonDiscretionary Funds/portfolios.

According to the Circular, Annual Supervisory fee for Collective Investments Schemes (CIS) under Management shall be 0.2% of the Net Asset Value (NAV) of CIS under management and be computed and accrued daily for each CIS. The Circular also stipulates that all fund managers shall pay the annual supervisory fee to the Commission not later than 31st January of every year and that the payment for 2021 annual

supervisory fee shall be based on the value of NAV as at December 31st 2021.

On Annual Regulatory fee for Discretionary and NonDiscretionary Funds/portfolios, the SEC stated that every Fund/ Portfolio manager shall pay not later than 31st January of every year annual regulatory fees to the Commission.

“The fees are 0.25% of the NAV of all discretionary and nondiscretionary funds/portfolios (other than CIS) under the management

of the Fund/Portfolio manager for retail investors and 0.01% of the NAV of all discretionary and non-discretionary funds/ portfolios (other than CIS) under the management of the Fund/Portfolio manager for qualified investors”.

“Accordingly, Funds/portfolio managers should note that late payment will attract a penalty of N100,000 and a daily sum of N5,000 for every day of default, or such other stiffer penalty as the Commission may determine” the Circular added.

Abuja Chamber Tasks Govt on Insecurity, High Taxes James Emejo in Abuja The President, Abuja Chamber of Commerce and Industry (ACCI), Dr. Al-Mujtaba Abubakar has tasked the federal government to intensify efforts towards addressing the persistent insecurity which had significantly affected the country’s ease of doing business evaluation.

Abubakar, said the government should fulfil its promises to among other things re-energise and reorganise the security apparatus to bring the situation under control.

In his maiden New Year remarks, the ACCI president, further called on the government to address

the issue of high taxation which remained counterproductive to the economy, killing many businesses and deepening the unemployment crisis.

He said, “We suggest broadening the tax base and reducing the tax rates.

“The increasing level of inflation, high taxes, and high-interest rates contribute to increasing the cost of production.

“This has resulted in many businesses not breaking even and many are closing shops. The situation is further complicated by insecurity challenges and the exchange rate instability.”

The chamber, therefore, recommended easing the harsh business environment by transforming regulatory agencies into facilitating bodies.

Abubakar, pointed out that though there had been several interventions of the government to enhance and boost economic opportunities. “We also note the constraints confronting the government in the area of low revenue and mounting expenditure.”

Bur he stated that the government, in a drive to generate funds at all cost, have subjected businesses to more than five levels

of taxation in Abuja.

He said, “This needs to change so that SMEs can thrive and employ more workers to ease the increasing level of unemployment.

“The chamber believes that the economy grows and GDP multiplies when government’s policies, agencies, and programmes facilitate rather than impede businesses.”

He added that with carefully formulated tools and welladvanced preparation, the toughest challenges could be turned into opportunities.

The chamber also urged the government to intensify its efforts

in providing the technology and digital infrastructure needed for new business techniques in line with current realities.

The ACCI further urged the government support, stressing the need for closer synergy between the public and private sector adding that it is prepared to fully support government at all levels in the drive to grow the economy, create wealth and resolve national economic challenges.

Abubakar also commended the federal government’s efforts and achievements last year, despite the disruptions caused by the COVID19 pandemic.

ASEM, INDUSTRIAL GOODS LEAD NGX WORST PERFORMING INDICES IN 2021

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

of the manufacturing sector are the food & beverage industries, and the cement industries where the local content is well over 60%. This explains the competitive strength of the sector.”

The current challenges he highlighted are, “Weak infrastructural base – power, transportation, Apapatraffic issues, railway system, and the ports; High cost of fund, absence of long-term funds, challenges of access to credit by SMEs as well as other firms in the sector, because of perception of manufacturing is very risky in the economy. Except for intervention funds, especially from the Bank of Industry (BoI), the cost of fund in the Nigerian economy has been well over 20% for industrialists. It is difficult to achieve a competitive manufacturing investment with this kind of fund.”

He added that the sector also suffer from the challenges of weak institutions. This makes regulation ineffective – faking

and counterfeiting, smuggling, under invoicing , among others.

Meanwhile, the Oil & gas index on the NGX emerged as the best performing index on the NGX amid impressive profit and revenue driven by hike in prices of Premium Motor Spirits (PMS), among others.

The index gained 52.52 per cent to close 2021 at 345.01 basis points from 226.20basis points it closed in 2020.

The three drivers in the index, Totalenergies Marketing Nigeria, Oando Plc, and Conoil Plc appreciated in prices.

The stock price of Totalenergies Marketing Nigeria gained 71 per cent to close 2021 at N221.9 from N130.00, while Oando gained 19.5 per cent from N3.70 it closed in 2020 to N4.42.

In addition, Conoil gained 5.52 per cent in stock price to close at N22 from N20.85 it opened for trading.

The federal government this year

tends to suspend subsidy payment on crude importation and the global oil price gained significantly over Crude oil production cut by the Organization of the Petroleum Exporting Countries (OPEC).

A report by National Bureau of Statistic (NBS) revealed that average retail of premium Motor Spirit (petrol) paid by consumers increased by 0.19 per cent on a year-on-year basis from a lower cost of N167.27 per litre recorded in corresponding month of last year to a higher cost of N167.60 per litre in November 2021.

However, the fact that the price of the commodity is still been sold at an average of N162/ N163 per litre stations across the country, meant that the Federal Government, through the Nigerian National Petroleum Corporation (NNPC) is still subsiding a litre of the commodity for Nigerians.

Capital market analysts have urged investors to invest in listed Oil and gas stocks with

strong fundamentals rather than patronizing banking stocks as most are struggling to survive numerous policies of the regulating bodies.

TotalEnergies Marketing Nigeria in its third quarter 2021 unaudited results for the period ended September 30, 2021 reported 881 per cent increase in profit before tax to N19.7billion, driven by 50 per cent growth in revenue that moved from N152billion in Q3 2020 to N242billion in Q3 2021.

In the period, multinational petroleum marketing company declared interim dividend of N4.00.

Conoil also grew profit before tax by 44 per cent to N2.36billion in Q3 2021 as revenue gained 15 per cent from N88billion in Q3 2020 to N101billion in Q3 2021.

The growth in profit drive the company’s Earning Per Share to N2.30 in Q3 2021, about 43.8 per cent increase over N1.60 reported in Q3 2020.

Speaking further, Fakayejo attributed the Oil & Gas

performance to higher margin in crude oil products, stressing that the ease of movement also contributed to revenue and profit.

According to him, “These companies reported increase in revenue due to higher margin in products the sale this year. The restriction of movement eroded their revenue last year but with the ease on COVID-19 lockdown, they were able to grow revenue that translates into profit.”

He maintained that investors can always consider buying Total Nigeria shares over its intrinsic fundamentals on the NGX. In his words, “Total Nigeria is one of the most reliable Oil & gas stock on NGX and the company by year end is going to have EPS of N35.00. The company’s payout is always 70 to 80 per cent every year and they may still pay dividend of N20.00 at the end of 2021 financial year. It makes a lot of sense for investors to buy Total Nigeria and Seplat Petroleum shares on NGX.”

T H I S D AY ˾ WEDNESDAY, JANUARY 5, 2022

27

BUSINESSWORLD

PERSPECTIVE

Rural Women Rise to the occasion

Olu Jacobs

N

igerians are notorious for not paying back loans, and women for being unable to unite - even in their own best interests. The rural woman is especially thought to be too dense to recognise what these interests are, much less organise themselves in their pursuit.

Well, the Nigeria for Women Project (NFWP) is pulling down these assumptions, brick by brick, and erecting new and powerful truths in their stead.

The project has been able to bring together thousands of women in each pilot state (Abia, Kebbi, Niger, Ogun, and Taraba), most of them living in poorly accessible places, some so uninviting they require courage to traverse in these violent, combustible times.

The roads are so bad that a bumpy ride ceases to be a figure of speech as vehicles routinely hit cobblestones and ridges, lifting off the ground only to come down hard on any number of large potholes available. In the idyllic travelogue of rural areas, writers often speak of undulating roads, suggesting a rhythmic, almost rocky-chair movement so soothing sometimes they lure you to sleep.

The road to Agaie, Niger State, is not such a road. The disrepair apart, the traffic of articulated vehicles driven with no care for other road users is often of pressing concern. At Takuti we left the road for Evutagi, a dubious shortcut that cuts off Lapai town and leads directly to Agaie.

We soon met cows decorating the road with their dung, unperturbed by the sound of our vehicle, or the sight of our cameraman striving to record their languid tail swishing, cud-chewing and blank stares, and exciting the flies. Their minder, a mild mannered fulani man ambled over to inquire why we were filming his cows and we gathered he needed us to move on.

More than the cows were the women walking in droves to their farms, carrying food, wood, babies on their backs. Babies, babies, everywhere, and one can only marvel at the phenomenal juggling powers of these rural women who work, cook, trade and conduct meetings while also looking after children. Those with some means took bikes, best for these winding rural roads gullied by erosion, sandbagged and hollowed by rivulets of water which continuously narrow the road for vehicles.

Remnants of the infamous Biwater Project, with the reverse funnel shape pump shining metallic against the rising sun, reminded me of a previous effort to change the lives of rural dwellers. The thought hit me that more often than not government projects fail to live up to their billings, being tall on promises and short on delivery.

The Nigeria For Women Project in Niger State which has so far registered some 54, 000 women in Agaie, Gurara and Wushishi local governments promises to be a departure from all past interventions. There is a certain simplicity to the project, a lack of grandiosity that makes it easily accessible to locals. The rules are plain, the processes democratic, the procedures familiar to

any woman who had ever participated in thrift contributions.

The World Bank assisted project under the auspices of the Ministry of Women Affairs came with a template that is a study in economic mobilisation. The women form groups which are called WAGs(women affinity groups) made up of 25 women who are all above 18 years and trust one another. It is all patently transparent, every decision is put to the vote; democracy has never been better served.

They make their own bi-laws, choose their leaders for a term of one year, and meet once a week to donate an amount already agreed upon amongst themselves as Savings and a lesser amount as Social Funds. You may borrow three times the amount you have saved up with little interest, and usually to improve on your business.

According to the template given to these women by the NWFP, there are negative lists, lists of things that you may not do, including drugs and prostitution and anything that degrades the environment. Project staff, consultants and volunteers have one basic rule, the famous principle of medical practice: Do no harm. The World Bank supports the programme with a 100million dollar grant with the hope that the money would improve the livelihood of exactly 324,000 women in targeted communities, quash those negative social norms that tend to hold women back, limiting their growth, killing their dreams. Of course, considering that it is a World Bank project, the major policy thrust is economic, or in the language of Michael Gboyega Ilesanmi with the long title of World Bank Senior Social Development Specialist and Task Team Leader for the Nigeria for Women Project, “the project is working with relevant bodies to deploy diverse user-friendly and context-specific innovations that can bring about scalability.”

In the long run the project plans to give these women loans to pursue their business interests but not before making sure the women know their business. So the project trains and pays Ward Facilitators who set up and manage five to ten batch of women affinity groups, each group made up of 25 women, a total of 250 women, maximum. These WFs are almost always local to ensure that they continue to provide their communities with relevant advise long after the project circle ceases.

Then there is a group known quaintly as the Barefooted Business Counsellors or BBCs who meet with each woman and advise her on a business plan, record keeping and the best savings and loan schemes that would benefit her business.

Niger State is generally considered to be a pace setter in the project and this is due largely to perhaps the most important officials in the project, the Local Government Field Supervisors. There are three of them for Agaie, Gurara and Wushishi local governments

respectively and they, all of them, exhibit the same can do spirit, the same knowledge of their environment and the same resilience that is a credit to their gender and to their communities.

When we reached Agaie, Talatu A Kawu who is the LFS for the local government was in mourning for a close family member who had just died in childbirth. As soon as we arrived she left the funeral to take us round to meet the WAGs. No less a person than the Emir of Agaie himself, the cerebral Etsu Yusuf Nuhu has been known to praise her dedication.

“I commend her commitment,” he said when we interviewed him. “Talatu is up and doing in organizing the women and the result has been spectacular. From the reports I have received the project is impacting so much on the lives of the women who I now understand are able to do certain things to assist their husbands. And the men are happy too.”

Mrs Zainab Abubakar, the LFS who heads Gurara LGA is a similarly gifted organiser and accomplished mobilizer. The state project coordinator, the even more hardworking but self effacing, Mohammed Bello Sarki, has been heard to say that in his estimation, she deserves credit for the progress made in that place in such a relatively short time.

The LFS for Wushishi, Hafsat Abdullahi Usman is a tough fulani-like woman who took us on one of the worst road trips in recent memory, from Wushishi to Lokogoma, a 24km trip that went on agonizingly for one hour because of a hellish terrain which combines rapid elevation gains and losses, and has more gaps on the road than their was coal tar, requiring that the vehicle frequently wobble rather than run. She was riding on the back of a motorcycle, hijab bellowing in the wind and once her cap flew off and she had to come down and retrieve it from the dirt.

“How long before we get there,” we asked again and she replied with a wan smile, “soon.” Of course, it was not anywhere near soon.

When we finally reached Barwa ward to see the “chi gaba ba baya ba“ WAG, we understood that she was so proud of what the women were able to achieve that she was determined to get us there even by subterfuge.

Together, these three women have been able to make local women selling beancake, groundnuts, melon, soybeans, garri, rice

and other edibles to form over 2000 women groups or WAGs in the state, comprising over 50,000 members who collectively have a cash deposit of N261 million of their own savings.

It is a staggering amount for mostly illiterate women who each saves between 100 and 500 naira weekly and reinvests the profits into their business.

In order to understand what these Niger State women have accomplished, we need only to compare the figures with the four other pilot states of Abia with 24,350 beneficiaries and N42.6 million in savings; Kebbi with 28,565 beneficiaries and N44.4m in savings; Ogun with 18,884 beneficiaries and 90.7m in savings and Taraba with 26,409 beneficiaries and N26.3m in savings.

According to Mr Sarki, the man whose arrival redeemed the state from a less than sterling position and placed it at the top of the pile within six months of his taking over, the project owed its success to the choice of stakeholders for community entry. These are mainly conservative/religious societies and the right influence was required.

The Nigeria for Women Project will be moving to its next stage of granting these WAGs grants, some as soon as next month, knowing that there is a very high probability that they would repay these project loans as they had repaid the loans they took in their various affinity groups. To all intents and purposes, the project has been a roaring success.

“It started like a joke,” said Etsu Agaie in wonder, reminiscing about his first intimation with the project.

Well, the women of Niger State have shown that when it comes to the business of improving their livelihoods, they take matters seriously. t0MV +BDPCT B GPSNFS OFXTQBQFS FEJUPS MJWFT JO .JOOB

28

WEDNESDAY, JANUARY 5, 2022 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

2022: High Expectations of Accelerated Recovery for Insurers Despite the fears of the effect of new variants of COVIS-19, there are indications that 2022 would kick-off accelerated recovery for the insurance industry, writes Ebere Nwoji

I

nsurance operators around the world are very optimistic that despite lingering concerns about COVID-19 variants, namely Delta and Omicron variants, there is going to be accelerated economic recovery and additional digital technology investments which would generate significant growth for the insurance sector in 2022.

The insurers said the market in terms of growth prospects would be fairly bullish during the year, citing the fact that they have planned to increase investments in enabling technologies and evolving talent models to build on the digital and virtual platforms that would sustain their operations and maintain their engagements with customers.

They however predicted that there would be multiple challenges for insurance leaders to tackle during the year beyond efforts to adapt to the pandemic’s aftermath.

According to the insurers, these challenges range from economic hurdles such as the potential for sustained inflation; to sustainability concerns including climate risk, diversity, and financial inclusion; to rapidly evolving consumer product and purchase preferences.

They also pointed out the fact that future of work considerations have also multiplied as carriers sought to create flexible return-to-office strategies while simultaneously struggling to retain and recruit high-level talent in a very competitive job market—particularly for those with advanced technology and data analytics skills.

The Deloitte Center for Financial Services, in its 2022 outlook for insurance said insurers are increasingly dependent on emerging technologies and data sources to drive efficiency, enhance cybersecurity, and expand capabilities across the organisations. They, however, said most should also focus on improving the customer experience by both streamlining processes with automation as well as providing customised service where needed and preferred.

The publication stated that on a more fundamental level, many carriers should also be taking steps to bolster trust among stakeholders to boost retention and profitability.

It added that this might be achieved in part through greater transparency in how insurers collect and utilise personal data. It recommended that the insurers could also become more proactive in seeking comprehensive

solutions to big picture societal problems— such as mitigating the financial impact of future pandemics and closing coverage gaps for natural catastrophes.

GLOBAL INSURANCE PREMIUMS

The Swiss Re institute, in its sigma report projected that Global insurance premiums would exceed $7 trillion for the first time by mid-2022 with the ongoing rate hardening in non-life insurance commercial lines providing further support.

The report projected that insurance premium growth would reach 3.3 per cent in 2022 and 3.1 percent in 2023 on the back of rising risk awareness in the life and non-life segments pushing consumers and businesses to seek protection following the shock of the COVID-19 pandemic and above-average natural catastrophes.

The report further said global supply chain disruptions had highlighted the need for better protection to improve societal resilience.

It also said climate risk was still on the frontline given extreme weather events, and above-average insured losses from natural catastrophes which had added urgency to the race to net-zero carbon emissions.

It further said as the industry absorbed COVID-19-related claims, above-average catastrophe losses and high inflation, it expected a strong rebound from 2022.

“Non-life underwriting profitability should recover fast as insurers internalise expectations of higher inflation, and rates in commercial lines rise again.

“Advances in COVID-19 vaccinations should strengthen profitability after a year of high mortality for life insurers, investment returns will likely be challenged by ongoing low-interest rates that do not fully compensate for inflation, making underwriting discipline crucial”, the report said.

According to Swiss Re group chief economist, Jerome Haegeli, prevailing market conditions suggest that positive pricing momentum would continue across all lines and regions. Inflation-

driven higher claims development in all lines of business, continued social inflation in the US and persistently low interest rates will be the main factors for market hardening.

NIGERIA INSURANCE SECTOR OUTLOOK

Here in Nigeria, insurers are hopeful that with the appropriation of N24.7 billion by the federal government in the proposed budget as premium for Group Life Insurance of government workforce, the year is looking good for insurers.

The insurers said the above amount represents 65 per cent increase to the N15 billion appropriated by government in 2021.

The federal government had in its appropriation bill 2022 released by its Budget Office under Group Life Assurance for all MDAs including DSS/ insurance of sensitive assets/corpers plus administration/monitoring,” stated that N24.7 billion was appropriated as premium for 2022.

Insurers are of the view that if the federal government would release the above figure at the right time during the year, they will have a smiling fortune within the year.

The Managing Director Afriglobal Insurance, Mr. Casmir Azubuike, told THISDAY that he was impressed by the new attitude of government towards insurance especially Lagos State Government which has in recent times seen insurance as a priority for its workforce.

He said if federal government would do the same regarding the insurances of its assets and Group Life Insurance of its workers, insurers would have a good harvest this year.

Section 4 (5), of the Pension Reform Act, 2014 states that “Every employer shall maintain a group life insurance policy in favour of each employee for a minimum of three times the yearly total emolument of the employee and premium shall be paid not later than the date of commencement of the cover.”

CHALLENGES FACING THE SECTOR

On the negative side, Deloitte in its report however forecasts that insurers might face mounting bottom-line challenges beyond pandemic resurgence.

According to the report, beside the potential for new COVID-19 strains to hinder or even derail economic recovery and insurer growth prospects in any number of countries, insurers are likely to grapple with several fundamental bottom-line threats in the new year.

It said to start with, rising inflation combined with interest rates could turn out to be major obstacles to improving insurer results.

“Rapid increases in demand for goods, materials, and labor, as well as ongoing supply chain disruptions have been raising claims costs for personal and commercial property losses.17 Corresponding price hikes for construction materials, rental vehicles, and auto parts (including semiconductor and computer chips for smart cars) are among the expenses threatening to drive up insurer loss costs into 2022.18 This factor alone is likely to keep pushing property and casualty insurance prices higher for buyers.

The Deloitte report observed that interest rates have remained relatively low around the world despite rising price and labor cost trends, as governments look to avoid undermining the recovery’s momentum and perhaps risk their economies slipping into recession. It said despite that, this could undermine investment returns for the industry as a whole, while hindering growth and profitability of interest-rate–sensitive L&A products.19 “Regulatory costs also will likely keep mounting. For example, global carriers are entering the home stretch in concluding preparations to comply with International Financial Reporting Standards 17 (IFRS 17), determining how insurance contract assets and liabilities are presented on company balance sheets. Implementation of IFRS 17, in January 2023, could cost global insurers between US$15 billion and US$20 billion when all is said and done, according to a survey of 312 carriers from 50 countries by Willis Towers Watson.

In Nigeria, insurance managers have expressed fears that rising inflation rate and declined purchasing power of the people might affect their appetite for insurance.

According to the insurers, this is because before now, Nigerians were alien to insurance and any little adjustment needed in their priority list always affects insurance.

They expressed fears that with rising cost of things, many Nigerians who have developed interest in insurance in recent times might lose such interest.

T H I S D AY ˾ WEDNESDAY, JANUARY 5, 2022

29

BUSINESSWORLD

ECONOMY

Funding Boost for Agriculture In this piece, James Emejo assesses the performance of the agricultural sector in the previous year, stating that although significant progress had been achieved, more interventions are required to increase productivity in the sector

N

o doubt agriculture remains key to the country’s economic diversification agenda and has received a lot of attention by the government in recent times.

Amidst growing uncertainties and vulnerabilities in the oil sector, especially as the debate on renewable or alternative energy sources intensifies globally, agriculture, with its vast potential has become the new gold mine for the Nigerian economy as it tries to boost non-oil ventures.

The sector remains the largest sector contributing an average of 24 per cent to the country’s GDP between 2013 – 2019, and employs over 36 per cent of the labour force. In addition, the sector holds the key to solving the country’s unemployment crisis.

The National Bureau of Statistics (NBS) estimates that about 23.18 million Nigerians unemployment with the unemployment rate put at 33.3 per cent in the fourth quarter of 2020 (Q4 2020) compared to 27.1 per cent in Q2.

However, until recently, agriculture had been abandoned by past administrations following the discovery of oil, which had now become unsustainable as alternative energy sources emerge.

With the challenges posed by the COVID-19 pandemic which almost crippled world economies and subjected developing economies like Nigeria to serious fiscal constraints, the government has realized the urgent need to further diversify its revenue base into non-oil sectors by boosting support to priority sectors of the economy with high potentials to create jobs.

There has been unprecedented financial support to agriculture in a manner not witnessed since the advent of the oil economy while hitherto moribund agencies had been revived and funded to boost agriculture.

It is on record that agricultural projects and ventures have enjoyed improved financial interventions from government, private and financial sectors in recent times while farmers have had easier access to credit at single digit or affordable rates through government’s interventions.

The intervention of the Central Bank of Nigeria (CBN) in agriculture through the Anchor Borrowers Programme (ABP) had been a game-changer that has ushered a revolution in local rice production, maize, wheat and other products in the value chain.

FUNDING INTERVENTIONS

According to the CBN governor, Mr, Godwin Emefiele, the apex bank has cumulatively disbursed the total sum of N864 billion to 4.1 million farmers, cultivating 5.02 million hectares across the country.

Under the bank’s Agribusiness Small and Medium Enterprise Investment Scheme (AgSMEIS), a total of the Bank has released N134.63 billion to 37,571 Entrepreneurs while N43.19 billion had been disbursed to support the cultivation of over 250,000 hectares of maize, sorghum, soya beans and rice during the 2021 dry season between September and October 2021, under the ABP. This is in addition to N5.88 billion to finance

six large-scale agricultural projects under the Commercial Agriculture Credit Scheme (CACS).

The CBN also disbursed the sum of N41.2 billion for the commencement of the brown revolution, a large-scale wheat programme to wean us off imports by 35 per cent in the first year.

Also, among several other initiatives by the federal government, the hitherto moribund National Agricultural Land Development Authority (NALDA), which is now directly under the supervision of President Muhammadu Buhari had recently been revived and funded to reclaim all the federal government’s abandoned lands across the country and commit same to boosting modern agriculture in rural areas and with a mandate to boost job creation. Through the intervention, led by NALDA Executive Secretary, Prince Paul Ikonne, farm estates are being built across the country, creating jobs and livelihoods.

several facilities through the CBN. He said the farming industry still lacked adequate access to finance, insufficient supply to meet population growth and food demand adding that with a population of about 200 million , Nigeria s agricultural productivity remained insufficient to meet the food demanded of its growing population thus increasing the demand and supply gap in the country.

Absence of value addition and supply Nigeria focuses mostly on food production, thus neglecting the processing and manufacturing segment of the value chain. The chain reaction that arises from shortages of resources, lack of financing for small scale farmers and inefficient transport systems, exacerbates the development of food production along the value and supply chain.

ANALYSTS’ PERSPECTIVES

Meanwhile, analysts while acknowledging

POOR CONTRIBUTION TO GDP the improved funding mechanism to the sector

However, in spite of the notable boost in agriculture funding as well as achievements so far recorded, the potentials of the sector remained largely underutilised. As a consequence, the growth and contribution of the sector to economic growth in recent times had been called to question.

The sector grew by 1.22 per cent (year on year) during the third quarter of 2021 in real terms lower than third quarter 2020 which recorded 1.39 per cent and a decrease of 0.08 per cent compared to 1.30 per cent in the preceding quarter.

Even though agriculture is broadly divided into four sectors namely crop production, fishing, livestock and forestry, only crop production remains the major driver of the sector and accounted for 87.32 per cent of overall nominal growth of the sector in third quarter 2021.

Agriculture contributed 29.94 per cent to overall GDP in real terms in Q3, lower than the 30.77 per cent contribution in the third quarter of 2020.

INHERENT CHALLENGES

However, given that the present administration had been celebrated for improving funding to agriculture; analysts believed the performance of the sector was dismal adding that its growth and performance is still constrained by several factors, which needed to be addressed.

In a report on the, “Current State of Nigeria Agriculture and Agribusiness Sector,” Associate Director, PwC Nigeria, Mr. Taiwo Oyaniran, stated that Nigeria’s agricultural trade deficit had continued to widen amid government’s push for self-sufficiency in the sector.

He said despite interventions from the government agricultural trade remained constrained by poor infrastructure, pointing out that the sector was still constrained by lack of access to finance Although the federal government had provided

blamed the poor performance of agriculture to the country’s GDP on several factors particularly the worsening insecurity in the country.

They believed that no matter the amount of money pumped into the sector, there would not be a commensurate outcome except the present security condition was improved.

The analysts in separate interview with THISDAY also identified lapses in the coordination of agricultural intervention programmes among the agencies of government as a limitation to the development of the sector as well as some administrative gaps in export activities among others.

The Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said the federal government through its agencies had spent a lot on agriculture in recent times in realization of its ability to create jobs, increase foreign direct investments and contribute significantly to the GDP. But he argued that most of the investments in the sector had been plagued with insecurity in agrarian areas, communal clashes and insincerity on the part of beneficiaries of various grants.

He said, “For example the beneficiaries of the Anchor Borrowers Programme were serious affected by the farmers/herders crisis which limited growth and prevented them from achieving repayment of the loans due to little or nothing to harvest. Logistically, the insecurity in most part of the country also affected agricultural inputs from reaching the desired areas for profitable business.”

Gbolade said the government has also not fully perfected the exportation of agricultural produce from Nigeria to other countries, which made some exported produce to be rejected with the exporters incurring significant losses.

Also, he said the federal government needed

an action plan to adequately settle the farmer/ herders crisis, improve security across the country and also improve the diplomacy attached to export to especially EU countries, Britain and USA. He added that the respective MDAs that are responsible for supporting the agricultural value chain in the country needed to be up to their responsibilities in 2022 and “not only tackle inherent problems but also ensure that there is level playing ground for intending investors.”

Also speaking to THISDAY, Managing Director/ Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, said the agricultural sector has remained subdued largely due to insecurity issues in the country.

He said the majority of farmers are subsistence farmers who rely on manual labour to produce, pointing out that due to incessant attacks on farmlands, a large number have had to abandon their farms.

He said maintained that despite the government’s credit schemes to farmers, it still remained largely inaccessible to many farmers either due to lack of awareness or the inadequate literacy that limits rural farmers from applying.

Shelleng said while majority of funding had focused on inputs, the entire value chain needed to be looked at from input, storage and processing, transportation and access to local and international markets.

He added that the high inflationary conditions also made cost of inputs and equipment increase beyond the reach of local farmers.

He said, “For the sector to thrive, the government needs to focus on providing agricultural hubs that are focused on mechanised farming and processing.

Provide incentives for the value chain to thrive such as tax incentives for potential private sector investors and incentivise states to harness their potential by producing export ready produce that could bring in much needed foreign exchange. The backward integration would also encourage more players to enter the agric space.”

On his part, Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, also blamed insecurity, funding gaps and other challenges for the low performance of the agricultural sector.

He said, “Although we agree that agriculture has received more in the current dispensation than any other government and other sectors, the reality is that the amount of funding in this sector is grossly inadequate.

“Many factors however are responsible for the abysmal output despite the increased funding. Lack of coordination between CBN and the Ministry of Agriculture and Bank of Agriculture in respect of funding, is a major factor.

“The insecurity in the country remains a problem.

Lack of transparency and accountability of the funds disbursed also accounts for the low output. We need to take research very seriously and utilize their results to increase our agricultural yield.”

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WEDNESDAY JANUARY 5, 2022 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

EDUCATION Funding, Hybrid Learning Top Stakeholders’ Expectations for Tertiary Institutions in 2022 With the dawn of a new year, experts in the education sector explained why politicians should eschew corruption for the continued survival of public institutions, demanding more funds for the education sector. They called on tertiary institutions to promote hybrid learning and offer more relevant courses to make Nigerian graduates globally competitive. Uchechukwu Nnaike and Funmi Ogundare report

T

he education sector suffered an unprecedented setback last year, caused by the prolonged ASUU strike, impact of the COVID-19, insecurity in schools, especially in the northern part of the country, and poor budgetary allocation. Towards the end of 2021, President Muhammadu Buhari signed the 2022 N17.126 trillion appropriation bill into law.

He also signed the Finance Bill 2021, which he said is critical to executing the 2022 budget.

The 2022 budget, valued at N17.126 trillion, was transmitted to the president by the National Assembly on December 24.

Buhari had submitted the draft proposed 2022 budget of N16.391 trillion to the joint session of the National Assembly on October 7, 2021, while calling on the legislators to give it a speedy consideration.

A breakdown shows that N869 billion was for statutory allocation, N3.8 trillion for debt servicing, N6.9 trillion and N5.4 trillion for recurrent and capital expenditure, respectively.

For the education sector, N875,925,404,037 (which includes a UBEC allocation of N139,236,349,701) out of a total budget size of N16.9 trillion, was allocated.

Analysis of the 2022 Appropriation Bill showed that the sector got a 5.3 per cent allocation which falls below last year’s percentage of 5.6 per cent.

The development did not go down well with some stakeholders who said that explains why the Academic Staff Union of Universities (ASUU) will continue to go on strike and why there is an infrastructural deficit in tertiary institutions, among other challenges in the sector.

Some experts told THISDAY that the federal government had not paid serious attention to education over the years, given the paltry budgetary allocation.

The Head of Department of Theatre Arts at the University of Africa, Toru-Orua (UAT) Bayelsa, Prof. Barclays Foubiri Ayakoroma, worried about the paltry budgetary provisions for education, to the extent that many universities have monetised honorary doctorate degrees to raise funds.

“It explains why government reneges on its several agreements with ASUU since 2009. It explains why many academics no longer take their teaching and scholarly research serious,” said Ayakoroma. “It is generally believed and rightly too that the standard of education is falling in the country. How will it not fall when the morale of lecturers is ebbing by the year?

How do we address these anomalies?”

He explained that the best any government can give to its citizenry is good education, adding that the government should honour its agreement with ASUU and know that whatever funds released to federal universities are to improve critical infrastructure and enhance the working conditions of the lecturers.

Ayakoroma mentioned the dire need for increased admission opportunities, with less than 30 per cent of candidates offered admission into higher institutions due largely to the lack of critical infrastructure in the existing ones to absorb more candidates.

“We can imagine what vocations the about 70 per cent disappointed candidates have gone into over the years: Yahoo-yahoo, armed robbery, drugs, alcoholism, sexploitation, kidnapping, terrorism, and so on,” he pointed out. “It is imperative for government to invest heavily in the education of the youth, our future leaders, for a guaranteed, prosperous future of the Nigerian nation.”

A lecturer in the department of Mass Communication, University of Lagos, Dr. Bunmi Ajibade, emphasised the setback the education sector witnessed in 2021.

“It has never been this bad in the history of Nigeria. One of the greatest problems is

President Muhammadu Bihari

Minister of Education, Mallam Adamu Adamu

the issue of insecurity, particularly in the north-western part of the country. School children were indiscriminately kidnapped in states like Kaduna, Zamfara, Niger, Katsina,” stated Ajibade.

He noted that is one region literacy rate is the least, adding that with the incessant kidnapping in the region, parents may be reluctant to send their children to school.

Hundreds of millions of naira, Ajibade added, was demanded as ransom from many impoverished parents.

“In spite of the frequent attacks by bandits and kidnappers, security agencies seemed helpless in arresting the situation.

Section 14 of the 1999 constitution of the Federal Republic of Nigeria makes it clear that the security and welfare of Nigerians shall be the primary purpose of government. With the security situation, particularly around school premises, it is clear that government has failed in its primary responsibility to the citizens.

With huge security votes annually, we cannot see the impact of government in the protection of the citizens, especially the young people. These children, who have been kidnapped and made to go through harrowing experiences, are traumatized. They may never have faith in the Nigerian system. So, the long-term impact of insecurity will be devastating,” the don stressed.

He stressed the need for government to increase its surveillance activities to preempt attacks on schools.

The Vice-Chancellor, Samuel Adegboyega University, Ogwa, Edo, Prof Babatunde Idowu, stressed that a critical review of the sector would reveal that “a lot has gone wrong.”

“However, going forward, there must be deliberate efforts to rescue the sector at all levels. First, the federal and state governments must find a way to keep to the recommendations of UNESCO as regards funding the education sector,” he said.

The VC recalled that other smaller

countries have kept faith with adequate funding for the sector, adding that what the federal and state governments have budgeted for education in the 2022 fiscal year leaves more to be desired.

“Until we take the funding of education seriously, things will continue to go wrong. It is heartbreaking to find out that the government has literally abandoned the idea of infrastructural development in the university,” stated Idowu. “Tertiary Education Trust Fund (TETFund) is now the only agency paying little attention to it.

Interestingly, we have argued that TETFund should be expanded to accommodate research opportunities in private institutions.

The argument that private institutions are personal businesses cannot stand.”

He regretted that the government seems to have forgotten that the tax that is used to fund the public institutions through TETfund comes from the private sector, adding, “apart from this, do we have a private and public labour market for graduates? These students and lecturers are all Nigerians, and they should be treated equally.”

The VC expressed concern about the frequent ASUU strikes, which he noted has left a sour taste in the sector.

“It is a mockery that university teachers go on strike every year because of funding.

It is a lasting shame. Going forward, the government must listen to ASUU and other unions across all levels and see what could be done to change the ugly narrative,” he pointed out.

Idowu also lamented the high exchange rate.

“Without this, the little that is provided will be consumed by the exchange rate. I am a researcher, and I buy materials for my laboratory works,” he explained. “The rising exchange rate can make this impossible. All these things point to one thing; government insensitivity to the sector. The government at all levels must pay attention to the sector with a view to making it better. Public institutions must not die. Politicians should

Until we take the funding of education seriously, things will continue to go wrong. It is heartbreaking to find out that the government has literally abandoned the idea of infrastructural development in the university

take their corruption far from the sector. Look at public primary and secondary schools; they have no teachers. Something must be done very fast,” the VC added.

The Vice-Chancellor, Anchor University, Lagos, Prof. Joseph Afolayan, stated that the surge of COVID-19 in 2020 brought about a global crisis still plaguing the world.

“Over 200 countries have had to seek ways to cope socially, economically, environmentally, and medically. Unfortunately, the education sector has also faced significant setbacks, especially in developing countries like Nigeria,” Afolayan explained. “However, universities have started to incorporate distance learning, but with its attendant challenges.”

One of such challenges, he noted, is inadequate facilities to meet the population of students.

He said the distance learning approach has not been all that effective.

“We must brace ourselves for future challenges such as this pandemic or similar. In other words, the following issues are indispensable for our education system: promotion of hybrid learning, allocation of more funds to develop the IT sector of our tertiary institutions,” he added.

Given a large number of prospective candidates for higher education, Afolayan noted that tertiary institutions should consider offering more relevant courses in engineering, data science, management, entrepreneurship, social services, and medicine.

In addition, learning materials should be available online, and with this should come an improvement in internet connectivity on the campuses, he urged. Overall, to survive the pandemic chaos, he called for the development of adequate and functional digital infrastructures.

This, he believes, is more needful as the future of education will most likely be distant learning, which has its benefits.

Afolayan wants IT taught in secondary schools to prepare students, noting that the virtue of discipline, diligence and resilience should be inculcated into youths.

The Registrar of the Teachers Registration Council of Nigeria (TRCN), Prof. Josiah Ajiboye, said the challenge experienced last year brought out the ingenuity and resilience of Nigerian teachers.

According to him, the federal government invested a lot of resources in digital literacy training programmes for Nigerian teachers to assist them in coping with the challenges of the pandemic.

Through the TRCN, with funding support under the Global Partnership for Education, the Federal Ministry of Education commenced training of trainers on digital literacy and online teaching for 480 master trainers in 16 states.

This will extend to training 30,000 teachers in the selected states in 2022.

“TRCN also organised digital training for teachers in the South West and North East in 2021. We shall continue with this training in 2022,” stated Ajiboye.

Ajiboye said the agency would not relent on the mandatory continuing professional development training programmes, especially in teachers’ core subjects (English Language, Mathematics and ICT).

TRCN’s focus in 2022 is to strengthen teachers’ professional development through digital education. “We believe that the Nigerian classroom needs total and complete revolution in terms of content delivery and pedagogy,” he explained. “TRCN will also continue to pursue the issue of teachers’ welfare, especially as it concerns the full implementation of all the welfare package approved by President Mohammadu Buhari for Nigerian teachers in 2020. Some aspects are already being implemented, but we will strive for full implementation, including getting all the laws to back up the packages.”

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T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

EDUCATION

Lagos Govt Commends Assembly for Passing LASUED Bill Funmi Ogundare

The Lagos government has commended the Mudashiru Obasa-led House of Assembly for passing the bill establishing Lagos State University of Education (LASUED) and Lagos State University of Science and Technology.

It also lauded the institution for backing Governor Babajide Sanwo-Olu administration’s vision for quality education and technology with appropriate

legislation.

When assented to by the governor, the bills will increase state-owned universities to three.

The Special Adviser to the Governor on Education, Tokunbo Wahab, in a statement, said with the law establishing the proposed universities in place, other logistics, including finances, equipment, and instructional materials, capacity building, among others to ensure a smooth take-off, would be supported.

“The Lagos Assembly lawmakers had during their plenary session on November 15, 2021, adopted the recommendations of the Committee on Education (tertiary institutions) on Lagos State University of Science and Technology Bill 2021,” explained the statement.

It added that following the recommendations, Deputy Speaker Wasiu EshinlokunSanni, who presided over the plenary, adopted the recommendations of the committee

as the resolutions of the house.

He said the passing of the LASUED bill by the house put a stamp on establishing two additional state universities.

Wahab noted that the two bills, coming at the time when JAMB candidates were jostling for universities admissions, were a further demonstration of the government’s commitment to providing Lagos indigenes unrestricted access to university education while promoting the growth of science and technol-

ogy education.

The special adviser recalled that Sanwo-Olu had, during a public lecture at the Lagos State University (LASU), promised that there would be no going back on the proposed two universities.

He appealed to the people of the state to support the take-off of the two universities the way they did during the public hearing. The Lagos official added that the location of the headquarters of either

of the institutions should not be a barrier since all indigenes of the state would have equal opportunity for admissions and job placement. ‘’This is giving democracy dividends to our people, our people have expressed the need for two additional universities to give our youths more access to varsity education and the house has done the needful by holding a public hearing on it, which truly reflected the wishes of the people,” noted Wahab.

Clean City Initiative, AIESEC Take SDGs Awareness to UNIBEN

A cross-section of teachers and pupils of Sofunix Nursery and Primary School, Iroko Town, Ota, Ogun State, during the 2021 Christmas carol

Firm Partners Foundation for Code Nigeria Funmi Ogundare

CsFirst Lagos Edu Consult has partnered a non-profit organisation, Micro:bit Educational Foundation, to train 4,800 students and teachers across Nigeria in a coding and digital skills programme tagged ‘Code Nigeria’.

In a statement, the cofounder and Managing Director, CsFirst Lagos Edu Consult, Mr. Uche Nwaobi, said the students and teachers would be trained across the West, East, South, and North)

in Nigeria.

He added that the students would use the Micro:bit platform and devices, with the Code Nigeria challenge coming up after each regional training.

Micro:bit is known to be the tiniest robot in the world that students can create fun activities with while learning coding and robotics.

Nwaobi, a tech expert, noted that winners would be selected from each region where they will compete for the grand prize that will be presented at

an awards ceremony and gala.

He added that participants could win prizes, including laptops, tablets, Micro:bit devices, robots, books, bags, etc., and mentioned that schools that attended the training would be recognised by BBC Micro:bit with a global certificate of recognition.

The Chief Executive Officer, CsFirst Lagos Edu Consult, Mr. Akpan Emmanuel, stated that the training would help students prepare for the future, considering the workshop’s motto and challenge, ‘Be future

ready’.

Emmanuel, who used the opportunity to announce the kick-off date of the challenge for January 24 2022, in commemoration of the UN International Day of Education, stated that interested students could join the training and register on www.cscodeng. com.

The Director, Coding and Robotics of the company, Mr. Godwin Bassey, advised participants to be prepared as the best will be chosen for the grand finale.

Staff and students of the University of Benin were recently thrilled as Clean City Initiative, in partnership with AIESEC in Benin, organised a Sustainable Development Goal campaign walk on the campus.

The walk was to sensitise the students on the 17 United Nations’ SDGs such as: no poverty, zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation, reducing inequality, climate action, among others.

Over 300 students, staff and notable individuals in the social impact space went around the campus with face painting, music and games, advocating for the SDGs. It also involved dance displays by other student bodies as they went through various faculties and ended at the students’ halls of residence.

The participants took trash bags and sanitation items to help clean up the school premises during the walk.

A representative of the Edo State SDG Focal Office, Mr. Patrick Inyerhovwome, highlighted the importance of the awareness walk and thanked AIESEC in Benin for organising the event.

The founder of Clean City

Initiative, Mr. Maliq Obaseki, also stressed the importance of recycling and its environmental impact.

He advised students to go into recycling, saying that an average student will make money from recycling plastic waste products.

The event brought together various student bodies such as the Junior chambers international (JCI), the Rotaracts, the Red Cross Society, Students Finance Club, Young African Leaders Initiative, among others.

Speaking at the end of the event, the Branch Director of Operations, AIESEC in Benin, Mr. Andrew Kintum, said it was a huge success.

He lauded the dedication of Clean City Initiative to eradicating the menace of plastic waste pollution and reducing the chances of severe flooding in Nigeria.

Kintum said the SDG walk was part of series of events held in the university and its environs.

Other events involved arming youths in underserved communities with skills, donating relief materials to the internally displaced persons camp, and a forum on the ‘Future of Work’.

NUC Approves Religious Studies Degree for Uma ChrislandVarsity Ukpai Theology School Appoints Ayo Arowojolu as PR Head Uchechukwu Nnaike

The National Universities Commission (NUC) has approved Uma Ukpai School of Theology (UUST), Uyo, Akwa Ibom, affiliated to the University of Uyo, to run a degree in Religious Studies.

The approval was conveyed to the Vice-Chancellor of UNIUYO via a letter dated October 27, 2021, and signed by the Director of Academic Planning, NUC, Dr. N.B. Saliu.

“I am directed to inform the VC that the executive secretary has considered and approved the establishment of the underlisted programme, to be run in the main campus of the institution with effective from 2020/2021 academic session,” stated the letter.

The approval followed a successful resource verification assessment visit to the school

by a panel that assessed the proposed course and facilities.

It was cheering news for the school, which has concluded plans to admit students and commence the programmes this academic session.

The Registrar of UUST, Mrs. Eunice Madu, said the institution’s vision was to produce leaders passionate about God’s glory, the development of just and inclusive societies.

Madu explained that the school was founded by the renowned evangelist, Rev. Dr. Uma Ukpai, in 2009 and has produced men and women who have become relevant in the society by doing exploits for God. In 2009, the school matriculated 36 students, and in 2011, it graduated its first set of 36 students, with its maiden convocation held on June 11,

2011.

On June 1, 2017, the school started the process of affiliation with the University of Uyo, and on July 31, 2019, during the 115th meeting of the Senate, the approval was granted.

“This major milestone was communicated to UUST in a letter dated August 26, 2019.

Consequently, on October 18, 2019, the school successfully signed the Memorandum of Understanding with UNIUYO on the affiliation, thereby paving the way for a three-man team from NUC together with an affiliation team from the university to visit the school for resource verification exercise on September 8, 2021,” added Madu.

She said the school has a conducive environment, spacious and well equipped classrooms for teaching and learning. “There is also a well equipped functional

computer school, white board and projectors for easy learning.

The library section has over 5,000 books, reference section and e-library houses over two million e-books in every field of life.’’

Madu thanked the proprietor for his financial support and for giving the staff and students the platform to serve.

Rev. Uma Ukpai

A seasoned media professional, Mr. Ayo Arowojolu, has been appointed as the Head, Public Relations of Chrisland University, Abeokuta.

Arowojolu brings to the university a wealth of media and corporate experience garnered over the last three decades to shore up a dominant image for the institution and popularise the mandate of learning, teaching and research.

A seasoned PR professional, Arowojolu was the acting Head, Corporate Affairs, Omegabank Plc. Arowojolu’s core task is to “deliberately and strategically” evolve diverse initiatives to shape the university’s image in several ways and to enhance the Chrisland brand visibility.

In a statement, the univer-

sity’s acting Registrar, Mr. Olusola Aladesuru, said the new appointee is on sabbatical from the Federal University of Agriculture, Abeokuta (FUNAAB), where he served as the assistant director of public relations.

Arowojolu established a broadcast station for the institution as the pioneer coordinator of FUNAAB Radio 89.5FM. Arowojolu holds a Master’s of Communication Arts (MCA) degree from the University of Ibadan. Before then, he bagged a Higher National Diploma (HND) in Mass Communication from then-Ogun State Polytechnic, Abeokuta.

He had worked in various newspapers, radio and television stations.

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T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

EDUCATION

Lagos Govt to Establish Comprehensive Library Donated to Catholic University Schools Funmi Ogundare and Oluchi Chibuzor

Commissioner for Education, Mrs. Folasade Adefisayo, has appealed to stakeholders to establish comprehensive schools across Lagos to provide a suitable career path for students based on their intelligence, intellectual, and skill competence.

Speaking at a strategic stakeholders’ meeting at The Zone, Workforce Group Gbagada, Lagos, Adefisayo noted that such schools would produce

James Sowole in Abeokuta

students who can fit into the workplace requirements.

The project will kick off in 2022 as directed by the governor.

The commissioner, who joined the event virtually, explained that this initiative gives the students opportunities to maximise either academics or vocation/skills acquisition.

“The motive will reduce the increasing rate of school dropout and actively engage the students in their various skills interest. The additional knowledge gained will positively give them

a source of living while still in school and encourage them to be employers of labour,” she said.

Adefisayo informed the stakeholders that the forum was organised to brief them on the plans of Governor Babajide SanwoOlu’s administration to use comprehensive schools to turn the state’s education system around and solicit their views, opinions and support towards actualising the vision.

According to the commissioner, the engagement with the various stakeholders

L-R: The Bayelsa State Commissioner for Education, Dr. Gentle Epilefa Emelah, receiving the plaque of his award as the African Child Prize (ACP) 2021 Outstanding Education Commissioner in Nigeria, from Country Secretary, African Child Right Foundation, Ambassador Joshua Uwhbo in Abuja… recently

is also expected to collate manpower needs of private organisations and how students of the proposed comprehensive schools can add value to these organisations to reduce the state’s unemployment rate.

In his remarks, the Special Adviser to the Governor on Sustainable Development Goals, Mrs. Solape Hammond, emphasised the significance of introducing comprehensive schools, saying some students have a pathway in academic pursuit while others are more interested in vocational skills acquisition.

She opined that vocational schools are the bedrock of the construction, manufacturing, digital/technology world.

The Executive Director, Lagos Business School Enterprise Development Centre, Mr. Peter Bamkole, also the Chairman, Advisory Committee, Lagos State Comprehensive School Programme, listed the subject categories for students which are; Agriculture, Tech/Digital Skills, Beauty/Events, Building/Construction, Media/ Entertainment, Financial Literacy, Entrepreneurship, Communication and other areas.

Commending the Lagos government’s proactive measures in securing a better future for the students, the Chancellor of WellSpring University, Pastor Ituah Ighodalo, said through this initiative, the government will get the best out of the students and turn out people fit for purpose as they can practise various skills.

The stakeholders strategic meeting was graced by top government functionaries comprising a body of permanent secretaries and tutor generals, heads of ministerial agencies, etc.

Parents, Experts Seek Chess as Part of Education Curricula Oluchi Chibuzor

With chess seen as a valuable educational tool, parents and experts have called on the government to introduce the game into the national educational curriculum.

This, according to them, is because chess is about decoding and analysis, thinking strategically, and foreseeing the consequences would improve comprehension and social

interaction.

Speaking at a chess clinic recently organised by Lekoyi Empowerment Initiative in Lagos, coach Ola Olawiyi said chess might be the perfect vehicle for teaching children.

He said it is about protecting kings, capturing queens and stealing rooks, but about quadrants and coordinates, lines, angles, weighing the options and making decisions.

Olawiyi noted that chess is

becoming a part of global curricula and as such Nigerian must consider introducing the game into the National curriculum.

“The game is fast becoming global, so we can begin to teach them this game. Over five years, we have been involved in organising this clinic for free,” said Olawiyi. “Through this game, kids learn to be strategic in their actions, school and ways of life, and we appreciate our sponsors.”

For her, a member of the trustees of the Lekoyi Academy, Titi Masha, chess helps kids “develop their rational, creative and logical thinking to collaborate differently using cognitive skills to understand what the next person is about to do.”

Also, Ben Langat, a parent, and chess enthusiast, handed out the medals to participating children, said it encouraged kids to embrace the game.

FCTA Kicks against Foreign Curriculum in Nigerian Schools Olawale Ajimotokan in Abuja

The Federal Capital Territory Administration Education Secretariat has vowed it would not tolerate the application of foreign curriculum by groups or individuals in schools in the FCT. The Secretary for Education, Sani Dahir El-katuzu, said this at the 2021 media luncheon of

the secretariat in Abuja.

He said the FCT Education Secretariat would not tolerate the imposition of a foreign curriculum.

“If somebody goes out to bring a curriculum from outside the country, he is importing the aspirations, plans and character of the intended students of another nation,” he explained. “Nigerians can’t be

foreigners, and we can’t train our students to be citizens of other nations. That is why we will do everything we can to enforce the national curriculum in our schools. If somebody does not like that, he can go elsewhere and correct the school.”

He added that although the secretariat recognised some school proprietors got the approval to apply foreign cur-

riculum, such must run together with Nigerian curriculum.

“It would not be an exclusively foreign curriculum operating in schools. We will not tolerate that,” El-katuzu pointed out.

On the issue of cultism and bullying in FCT schools, he said there was an arrangement to tackle cultism and urged schools to deal decisively with bullying.

An emeritus Professor of Economics, Ibi Ajayi, has donated his well-stocked private library to Dominican University, Samonda, Ibadan.

The varsity don said the gesture was to provide for students and scholars access to resources that could help them expand the frontiers of their knowledge, especially in his chosen field of economics.

Ajayi believed that the donation would help boost human capital development, which is the hallmark of qualitative university education.

Receiving the donation at a ceremony held at the Tom and Carolyn Walker of the university, the ViceChancellor, Prof. Anthony Akinwale, commended the university don for his magnanimity and readiness to always support the cause of humanity.

Akinwale said, “Indeed, Prof. Ajayi’s donation of his immensely rich library to the Dominican University is a gesture that clearly surpasses generosity. Ajayi is a well-known economist who distinguished himself by

placing his expertise at the service of the University of Ibadan, the World Bank, the International Monetary Fund, and the African Development Bank, to mention a few.”

The vice-chancellor added that the impact of the library was already beginning to bear fruits in the lives of students and beneficiaries of the university.

“This gift immortalizes you, but we still owe you a gift, and the gift is for us to ensure that this gift you have given us is well kept and put to good use for the benefits of the academic community and the public,” Prof Akinwale said.

The university’s Rev. Father Modestus Ngwu also commended Ajayi for his selflessness, saying, “knowledge is the greatest thing we celebrate today.

Today we celebrate the donation of an Economic library by Prof. Ajayi.”

Also at the ceremony were the Archbishop Emeritus of the Catholic Archdiocese of Ibadan, Felix Alaba Job and the Metropolitan Archbishop of Ecclesiastical Province, Gabriel Abegunrin, among others.

9mobile Trains Lagos Teachers on Effective Classroom Communication Uchechukwu Nnaike

As part of efforts to improve the quality of education and enhance the development and wellbeing of the Nigerian child, Nigeria’s telecom provider and youth-friendly brand, 9mobile, recently organised a one-day trainthe-trainer workshop for teachers within the Lagos State Education District III, comprising Lagos Island and Etiosa Local Councils.

With the theme ‘Understanding Affirmative Communication and the Emotional and Psychological Needs of a Child’, the workshop was an opportunity to equip teachers with the skills to manage and influence the upcoming generation of students to be future agents of positive change.

Facilitators Emike Oyemade, a trained counsellor and therapist, and Adesoga John-Mabun, a certified life coach and management trainer, identified areas that need improvement in the management of the teacher-student relationship.

Oyemade said teachers need to adapt to the new realities of the times. “As teachers, your style of communication must align with modern reality. You must learn to speak and understand your students’ language, use the right words to impact and influence them, and connect to correct where mistakes have been made.”

On his part, Mabun stressed

the importance of adopting a communication style that enhances the synergy between teachers and students.

He said: “You cannot deliver well if you do not see your students as your children. Understanding the psychological and emotional needs of your students is a skill, and you must be deliberate about it.”

Commenting on the workshop, the Executive Director, Regulator and Corporate Affairs, 9mobile, Mr. Abdulraham Ado, represented by the PR Lead, Chineze Amanfo, restated the company’s commitment to prioritising the interest of the youths. He said it will continue to invest in initiatives that impact their development.

“Some months ago, we held a career counselling session for students of Akande Dehunsi Senior Secondary School.

Today, we are back with a train the trainer workshop for teachers.”

He said the company organised the training because teachers play a critical role in shaping a child’s future aside from guiding students in academics and extracurricular activities.

One of the participants, Mr. Akande Abideen of Akande Dahunsi Senior School, Ikoyi, described the workshop as informative, eye-opening, and helpful. He encouraged his colleagues to put to good use all they learnt from the session to improve their relationship with their students.

WEDNESDAY JANUARY 5, 2022 • T H I S D AY

35

T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

36

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430

Feeding the Old People during Christmas, the COSROPIN Way It has become a yearly tradition for COSROPIN, a non-governmental organisation, to gather old people and feed them in the spirit of Christmas. Amby Uneze writes that last year was not an exception

Old People

Old People being catered by COSROPIN

I

t was a day full of joy and excitement as St. Theresa’s Catholic Church Owere Obukpa in Catholic Diocese of Nsukka, Enugu State in collaboration with Coalition of Societies for Rights of Older Persons (COSROPIN), Enugu chapter celebrated Christmas with senior citizens to mark 2021 yuletide and to appreciate older persons for their contributions in the socio-economic development of the country.

The program, which was organised to promote the care of older persons and to create an ageing-friendly environment in Nigeria opened up with Elders’ Forum at Lion FM 91.1 University of Nigeria, Nsukka (UNN) on a theme tagged “The Dignity, Responsibility and Challenges of Older Persons in Nigeria.”

Speaking on the occasion, Chief Charles Nduka Ifechukwudozie, a senior citizen and retired lecturer in the department of Sociology, University of Nigeria, Nsukka noted that “the society’s attitude and treatment of older persons have recently come to be viewed as a major social problem with so many civil society organisations advocating for rights and social welfare for older persons.”

Being discovered also as minority group, like other minority groups he further said that “older persons are being subjected to all kinds of abuses, neglect, discrimination, social exclusion and stereotyped behaviours".

Generally, they react against these prejudices in the same way those discriminated against on racial and ethnic bias would react through protest and by being self-conscious, sensitive, and defensive about their social and cultural status.

Ifechukwudozie also appealed to government at all levels to double their efforts in meeting their social responsibility towards older persons in Nigeria and to religious leaders too “to lead by examples in caring for older members of their worshiping communities as the moral conscience of every just and responsible society".

The Head of Department of Social Work, University of Nigeria, Nsukka, Dr. Pepertua Tanyi, also speaking at the event on the problems and challenges faced by older persons said “as a people, we have a personal stake in improving the status and life circumstances of older persons because they are what we are becoming. If we do not face and solve the problems of older persons now, we will meet the same problem in the future in our own time.”

She identified those problems as “depression and other emotional problems caused by loneliness, declining health, loss of status, reduced income, lack of relationships with families and friends, parents abuse by children and significant others, lack of regular payment of pensions and high cost of healthcare both in private and public hospitals”. To

Old People doing exercise overcome these challenges she suggested an effective implementation of various social policies on ageing.

Contributing, the parish priest of St. Theresa’s Catholic Church Owere Obukpa Nsukka Diocese, Rev. Fr. Emmanuel Asogwa, while addressing the guests said that “our society fears ageing and old age more than most other societies do. Our emphasis on youth and the beginning of life to the neglect of older persons and the end of life are indications both of our dread of getting gray hair and wrinkles or becoming bald and of the pleasure we experience when someone guesses our age to be younger than it actually is.

We place a high value on newness, mobility, action, and energy.”

Rev. Fr. Asogwa equally appreciated the leadership of the Coalition of Societies for Rights of Older Persons in Nigeria

(COSROPIN) through the zonal coordinator Rev. Fr. Theodore Ihenetu for their active advocacy role in promoting the rights and well-being of older persons in Nigeria and for effectively facilitating the program for the first time in Nsukka Diocese and Local Government Area of Enugu State.

Fr. Asogwa speaking further said “I hope all and sundry will key into this program of promoting healthy and gracefully ageing for our senior citizens by giving them our social and emotional support.”

The high points of the event were the sensitisation road walk by older persons, leisure activities, football matches between elderly men and elderly women, tug of war, cutting of Christmas cake and old school music dance by older persons.

In conclusion the zonal coordinator of COSROPIN in the University of

As a people, we have a personal stake in improving the status and life circumstances of older persons because they are what we are becoming

Nigeria Nsukka, Rev. Fr. Theodore Ihenetu thanked all older persons in attendance for being part the celebration organised in their honour, NGOs and civil society organisations working with and for older persons for their commitment in promoting social justice and security for all especially for older persons.

Rev. Fr. Ihenetu equally thanked the Catholic Bishop of Nsukka Diocese, Most.

Rev. Prof. Godfrey I. Onah for supporting and promoting the welfare of older persons in Nsukka Diocese through his teaching and charity donations to the indigent older persons.

Ihenetu equally commended President Muhammad Buhari for making his administration older persons’ friendly by generously approving the take-off of the National Senior Citizens Centre with Dr. Emem Omokaro as the Director-General.

He was optimistic as he said “that the President will assent to The Older Persons’ Rights and Privileges Bill 2019 which has passed the final reading at the House of Representative when it gets to him”.

He also thanked the leadership of Coalition of Societies for Rights of Older Persons in Nigeria (COSROPIN) ably led by Sen. Dr. D. Eze-Ajoku for being the voice of older persons in Nigeria.

T H I S D AY ˾ WEDNESDAY JANUARY 5, 2022

37

CRIME&SECURITY

Magodo and the Scare of Landgrabbers The recent attempted invasion of Magodo Phase II Shagisha by landgrabbers, who were on a mission of dispossessing some residents of their properties, is a wakeup call on government to enforce laws that protect investors, especially senior citizens. Yinka Olatunbosun reports

Magodo residents and visitors stranded at the gate

I

magine that you are 80 years old.

Your children are all married and have left home. Your aged spouse is confined to a wheelchair. You hardly have visitors except for the cleaner and maybe the newspaper vendor. Then came a knock on the door. A bailiff just arrived to serve you a quit notice in your own house. A judgement of the Supreme Court is said to be enforced.

The above scenario may seem scary but may be true as in the case of residents of Magodo Phase II Shangisha who recently mounted a resistance against what was believed to be an illegal takeover of their properties last week in Lagos.

Residents, visitors, workers and service providers were stranded inside and outside the estate as the Magodo Residents' Association restricted entry into and exit from the estate to prevent the landgrabbers under the guise of court bailiff from dispossessing residents of their properties. There was a lot of confusion and many could not access their offices. Kenny, a Lagos-based curator said she had to work out of office for three days.

The estate is predominantly populated by former public servants and retired civil servants some of whom had been residents for over thirty years. At the moment, the estate is governed by the New Towns Development Authority (NTDA), an agency of Lagos State government.

This agency was established in April 1981 through the Lagos State Government Official Gazette Extra-Ordinary No.19 Volume 16 to effectively implement the planned growth of Lagos State, in order to decongest Metropolitan Centre and ensure even development of Lagos State towards the North West, Southwest and Lekki Axis.

Meanwhile, the Magodo Phase II land was said to have been acquired by Lagos State under the military. The story was that a group of families under the name Adeyiga had contested the right of Lagos State's ownership in court and eventually the matter reached the Apex court.

According to the Chairman Board of

Trustees, Magodo Residents Association, Prof Ayodele Francis Ogunye, a professor of Chemical Engineering, the residents had faced harassments by landgrabbers called omo onile for many years before the judgement of the Supreme Court in question.

"They are to be given 549 plots. That judgement did not say 549 plots in Magodo. The Lagos State government allocated plots for them in Badagry and Ibeju Lekki. About 300 of them had taken those plots but these people continue to harass us.

"I have been to Alagbon three times this year on this particular matter. Just yesterday morning, they (the landgrabbers) came in to enforce the judgement of 2016, I think," he said while fielding questions from journalists at the entrance of the sealed gate.

It was reported that law enforcement agents armed with guns had arrived at the estate to enforce a Supreme Court judgement, marking houses with an inscription which reads ‘ID/795/88 possession taken today 21/12/2021 by court order.'

"The bailiff ought to wear uniform or jacket," Prof. Ogunye continued. "They just went to hire some area boys. I was with them till 5pm yesterday before I went home. There were about 50 law enforcement agents that came. The senior instructor that followed them claimed that they were acting on instructions from the top.

"Our legal adviser talked to them,

asking for the copy of the judgement that they were trying to enforce. They showed a press release instead. We believe that Lagos State government has to do something about it because they were the ones challenged to court, not the residents. When they came they were marking houses for repossession."

Meanwhile, the Shangisha Landlords Association has petitioned the Economic and Financial Crimes Commission(EFCC) alleging that some residents of Magodo are parading fraudulent Certificates of Occupancy.

The Chairman, Shangisha Landlords Association, Chief Adebayo Adeyiga has reportedly claimed that any Certificate of Occupancy issued after 1998 when the judgement was passed is null and void.

“We are aware that Governor Babatunde Fashola did not sign any C-of -O neither did Governor Akinwumi Ambode following the judgement. So, how did the present occupants of Magodo get the C-of-Os? We have done our audits and have found over 600 C-of-Os that are fraudulently obtained,” he said.

To further give perspective to the matter, the Attorney-General of Lagos State, Moyosore Onigbanjo revealed that the case dates back to the demolition of properties at Shangisha village between 1984 and 1985, after which a supreme court verdict ordered the state to give the Shangisha landlords 549 plots of land as a “matter of first priority”.

Onigbanjo, however, said the verdict

They are to be given 549 plots. That judgement did not say 549 plots in Magodo. The Lagos State government allocated plots for them in Badagry and Ibeju Lekki. About 300 of them had taken those plots but these people continue to harass us

of the supreme court only relates to “allocation” and not “possession” of any land.

The NTDA office has not released any official statement on this matter. However, a source confirmed that the Lagos State government has allocated several plots of land to the Oyeyiga family in Iberekodo Scheme, Ibeju Lekki and Magotho Residential Scheme in Badagry and some of the claimants have refused, insisting on Magodo land.

Many Lagos State residents who had lived over 30 years prefer to buy lands and build houses in their home towns to avoid being dispossessed of their property in Lagos due to the menace of landgrabbers.

Also, it has been a common phenomenon for senior citizens, who are often times retired public servants, to petition the Lagos State government over the issue of landgrabbers.

In response to this development, the LASG on Monday, June 27, 2016 set up a taskforce to check the menace of land grabbing in the state, just as it vowed to tackle the activities of ‘omo onile’ (landgrabbers) with the full deployment of resources of government and applicable law once and for all.

Anyone that uses the threat of arms or physical threat to dispossess people of their legitimate property will be treated as criminals in accordance with sections 52, 53 and 281 of the Criminal law of Lagos State.

The section 281 of the criminal law included land as things capable of being stolen while sections 52 and 53 of the law prescribe a jail term of two years for any person who forcibly enters or takes possession of land in a manner that can likely cause a breach of peace against a person entitled by law to take possession of the land.

The law is created to protect investors and maintain law and order through the verification of legal claims through litigation rather than violence.

The taskforce is under the watch of the Lagos state Attorney-General and it is the expectation of every land owner in Lagos that his right of ownership will be protected and guaranteed under the law, especially in his or her old age.

38

T H I S D AY ˾ ˜ JANUARY 5, 2021

BUSINESS/MONEYGUIDE

ABCON Urges CBN to De-risk BDCs Operations to Access Forex From Autonomous Window Nume Ekeghe The Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body for over 5,3000 Central Bank of Nigeria (CBN)-licenced Bureaux De Change (BDCs) has advised the CBN to de-risk BDCs operations to allow operators access foreign exchange (forex) from autonomous market in 2022 and beyond.

In a statement, ABCON President, Mr. Aminu Gwadabe said the BDC sector is becoming comatose since July 2021 Monetary Policy Committee (MPC) meeting where the CBN suspended weekly dollar interventions to BDCs. He said that while BDCs are licensed to offer retail forex sales, across the counter forex transactions, they equally contribute to Nigeria’s economic development.

The BDCs, he added are

ensuring order and confidence in the forex market, providing data for monetary policy, channels for CBN Intervention in Retail forex market and creation of over 15,000 jobs, among others.

According to Gwadabe, over N1 trillion annual transaction volume by the BDCs sector is under threat while huge capital investment in the sector is becoming redundant, gradually being eroded and winding up.

He therefore advised that just like the apex bank de-risked the agricultural sector, making it easier for agriculturalists to access cheaper loans at single digit from banks, adding that, “the CBN can also de-risk the BDCs operations to be able to receive diaspora remittances through the International Money Supply Operators (IMTOs) and deepen foreign capital flows to the economy.”

Gwadabe said the ABCON understands the challenges faced by the apex bank due to the dwindling foreign reserves, declining oil output and oil theft, Covid-19 induced economic pains, fiscal policy challenges, debt burden and election spending, which are making it difficult for the CBN to sustain weekly dollar interventions to BDCs. He suggested that the BDCs should be to allowed to access dollars or diaspora remittances through the autonomous forex windows like allowing operators to receive IMTOs proceeds, carrying out online dollar operations and Point of Sale (PoS), among others. He said that ABCON has developed multiple applications for BDCs’ transformation from being CBN cash dispensers to globally competitive entities with capacity to attract foreign capital flows to the economy.

FMDQ: Total Foreign Exchange Trade Drops by 23.59% in November

MARKET INDICATORS

Kayode Tokede

MONEY AND CREDIT STATISTICS

FMDQ Exchange has disclosed that total foreign exchange (FX) market turnover dropped by 23.59 per cent in its month-onmonth (MoM) performance to N4.28trillion or s. $10.30billion in November from N5.59 trillion or $13.48billion recorded in October 2021.

FMDQ in its Fixed Income and Currencies (FIC) monthly report noted that the MoM decrease in total FX market turnover was jointly driven by the 21.11 per cent or $1.50billion and 26.31 per cent or $1.68billion MoM decrease in FX Spot and FX Derivatives turnover respectively in November.

According to the report, the

MoM decrease in FX derivatives turnover was driven by MoM decrease in turnover for FX Swaps, FX Futures and Forwards by 19.94per cent ($0.38billion), 65.28per cent ($1.17billion) and 4.54per cent ($0.12billion) respectively.

The report stated that: “the contribution of FX Derivatives to total FX market turnover decreased by 1.70 percentage points (ppts) to 45.64per cent in November 2021.”

In the FX market, Naira appreciated against the Dollar, gaining 0.04 per cent or $/N0.18) to close at an average of $/N414.92 in November 2021 from $/N415.10 recorded in October 2021..

The FIC’s report by FMDQ explained that Naira traded

within a range of $/N414.30 $/N415.10 in November 2021 compared to $/N413.55 - $/ N422.07 recorded in October 2021.

The report added that turnover in the FIC markets in November 2021 was N15.81trillion, representing a MoM1 decrease of 8.13per cent or N1.40 trillion and a Year-on-Year (YoY) increase of 7.55per cent or N1.11trillion from turnover in October and November, respectively “Foreign Exchange (FX) and Money Market (mainly Repurchase Agreements [Repos]) transactions remained the highest drivers of market turnover, jointly accounting for 52.95per cent of the total FIC markets turnover in November 2021,” the report added.

Dangote Flags off Nutrition Program in Kano Ibrahim Shuaibu ÓØ ËØÙ The Aliko Dangote Foundation (ADF) has commenced the implementation of its nutrition flagship program, tagged: “Aliko Dangote Foundation Integrated Nutrition (ADFIN),” program in Kano State.

According to the ADF’s Director of Health and Nutrition, Dr. Francis Aminu, the program is in line with the plan to use the newly refurbished Primary Healthcare Centers (PHCs) across 5 pilot LGAs as Outpatient Care

(OPC) and Inpatient Care (IPC) component of the Integrated Management of Acute Malnutrition (IMAM) services for the Programme. Meanwhile, no fewer than 30 health workers have been trained in Kano.

Aminu said, “The purpose of the training was to equip the health workers with the requisite skills on how to assess, treat and care for malnourished children under the age of five. The 5-day training enabled participants to gain in-depth knowledge in line with the training requirements as

stated in the National Integrated Management of Acute Malnutrition Guidelines.”

He said the participants were drawn from the State Ministry of Health and the five ADFIN supported sites from Bebeji, Dala, Kura, Tudun Wada, and Rimin-Gado LGAs comprising Officers-in-Charge (OICs), Community Health Extension Workers (CHEWs), Nutrition focal persons, Maternal and Child Health (MCH) Coordinators, and Primary Health Care (PHC) Coordinators.

Nigeria Assumes Post of Secretary General D-8 Organisation for Economic Cooperation Nigeria yesterday assumed the post of Secretary General, D-8 Organisation for Economic Cooperation in Istanbul Turkey.

As it is the turn of Nigeria to take the helm of affairs of the intergovernmental organisation, Ambassador Isiaka Abdulqadir Imam assumed duty as Secretary General of the D – 8 Organisation for Economic Cooperation, based on the principle of rotation in alphabetic order. This, it was learnt, is in consonance with article 9.3 of the D – 8 Charter which stipulates that, “the Secretary-General shall be appointed on recommendation by the Council of Ministers by consensus from among the nationals of Member States and

approval by the Summit for a non-renewable four-year term in accordance with the principle of rotation in alphabetic order with due consideration for competence, integrity and experience. The Secretary-General will be of the rank of Ambassador in the diplomatic service of the Member State.”

The Developing Eight Organization for Economic Cooperation, founded in 1997, is an intergovernmental organization comprising the People’s Republic of Bangladesh, Arab Republic of Egypt, Republic of Indonesia, Islamic Republic of Iran, Malaysia, Federal Republic of Nigeria, Islamic Republic of

Pakistan, and Republic of Turkey.

The aspiration of the D-8 is to become an economic powerhouse that will promote sustainable development of its Member States to become major actors in the global economic system.

Imam hails from Ilorin, Kwara State. He joined the Nigeria Foreign Service in 1993 after acquiring B.A. (Hons) 2:1 Class (Political Science) in 1985 from American University in Cairo, Egypt. He has served meritoriously in different capacities at our Missions in Jeddah (Saudi Arabia), Pretoria (South Africa), Tokyo (Japan), and Brasilia (Brazil) accordingly.

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͵

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

39

T H I S D AY ˾ ˜ ͳ˜ ͰͮͰͯ

Stock Market Resume 2022 With N887bn Gain in Market Capitalisation Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday resumed trading for 2022 on a positive note as it gained N887 billion in market capitalisation. .

The All Share Index (ASI) rose by 309.79 points, representing an increase of 0.72 per cent to close at 43,026.23 basis points, while the overall market capitalisation value gained N887 billion, representing a growth of 3.98 per cent to close

at N23.184 trillion.

Analysis of market numbers showed that the Consumer Goods dropped by 0.9per cent, Oil & Gas index also dropped 0.5per cent and Insurance was down by 0.4 per cent while the Industrial Goods appreciated by three per cent and Banking index gained 0.4 per cent.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Stanbic

P R I C E S MAIN BOARD

F O R

DEALS

IBTC Holdings, Flour Mills of Nigeria, Zenith Bank and Neimeth International Pharmaceuticals.

Market sentiment, as measured by market breadth, was negative as 27 stocks declined, relative to 18 gainers. Academy Press recorded the highest price gain of 10 per cent to close at 55 kobo, per share.

Wema Bank followed with a gain 9.72 per cent to close at 79 kobo, while Cornerstone Insurance up by 8.70 per cent to close at 50 kobo, per share.

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Neimeth International Pharmaceuticals rose by eight per cent to close at N1.89, while BUA Cement appreciated by 7.31 per cent to close at N71.95, per share. On the other hand, Ardova, Northern Nigeria Flour Mills and Vitafoam Nigeria led the losers’ chart by 10 per cent each, to close at N11.70, N7.20 and N20.25, respectively, per share.

Chams followed with a decline of 9.09 per cent, to close at 20 kobo, while SUNU Assurances

T R A D E D MAIN BOARD

A S

depreciated by 8.89 per cent to close at 41 kobo, per share.

The total volume of trades decreased by 52.4 per cent to 216.651 million units, valued at N1.516 billion, and exchanged in 4,080 deals. Transactions in the shares of Chams topped the activity chart with 29.865 million shares valued at N6.080 million. Wema Bank followed with 17.111 million shares worth N13.309 million, while Zenith Bank traded 11.035 million shares

O F

valued at N278.219 million.

Transnational Corporation of Nigeria (Transcorp) traded 10.755 million shares valued at N10.496 million, while Sovereign Trust Insurance transacted 10.476 million shares worth N2.862 million.

This week, United Capital expected the January buying interest to resume in no distant time as investors begin to position for full year, 2021 dividend announcements.

0 4 / 1 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

WEDNESDAY, ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, January 5, 2022

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THISDAY AFRINVEST 40 INDEX

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Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϴ͘ϱй ŽĨ ƚŚĞ ŝŶĚĞdž͘

>ŽĐĂů ŽƵƌƐĞ <ŝĐŬƐ Žī ƚŚĞ zĞĂƌ ŝŶ 'ƌĞĞŶ͘​͘​͘ ^/ ƵƉ Ϭ͘ϳй ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

Ticker

THISDAY AFRINVEST 40

1,771.20

-4.49%

955.00

0.0%

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC 3 Guaranty Trust Holding Co PLC

zĞƐƚĞƌĚĂLJ͕ ĚŽŵĞƐƟĐ ŵĂƌŬĞƚ ƚŚĞ WƌĞǀŝŽƵƐ ƚŚĞ ĚĂLJ͕ ƉƌŝĐĞ ĞƋƵŝƟĞƐ ƵƉƟĐŬ ŝŶ ĐŽŵŵĞŶĐĞĚ ,KEz&>KhZ LJĞĂƌ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ͕ ĚƌŝǀĞŶ ďLJ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ hͲ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ

5.2% 14.1%

14.2x

21.6x

5.5%

7.0%

24.8%

3.9%

3.9x

1.0x

11.5%

25.4%

26.00

0.0%

7.4%

0.0%

0.0%

24.8%

3.9%

3.9x

1.0x

11.5%

25.4%

25.30

0.6%

6.7%

0.6%

0.6%

20.9%

2.8%

3.4x

0.7x

11.9%

29.2%

257.00

0.0%

5.0%

0.0%

0.0%

40.4%

16.7%

12.8x

4.9x

6.3%

7.8%

1,556.50

0.0%

4.0%

0.0%

0.0%

106.8%

15.6%

30.2x

35.5x

3.9%

3.3%

11.30

-0.9%

3.8%

-0.9%

-0.9%

8.4%

0.8%

6.7x

0.5x

4.0%

15.0%

24.00

0.2%

3.7%

0.2%

0.2%

11.6%

8.4%

9.0x

1.0x

4.2%

11.1%

10 Access Bank PLC 11 United Bank for Africa PLC

9.25

-0.5%

3.0%

-0.5%

-0.5%

17.0%

1.4%

2.6x

0.4x

9.2%

38.5%

8.05

0.0%

2.5%

0.0%

0.0%

19.5%

1.8%

2.0x

0.4x

6.8%

49.4%

12 Stanbic IBTC Holdings PLC 13 Nigerian Brew eries PLC

38.00

5.6%

2.0%

5.6%

5.6%

15.4%

2.0%

8.7x

1.4x

10.8%

11.4%

48.00

-4.0%

1.7%

-4.0%

-4.0%

5.3%

1.9%

44.2x

2.3x

2.3%

2.3%

14 SEPLAT Energy PLC 15 Ecobank Transnational Inc

650.00

0.0%

1.8%

0.0%

0.0%

3.4%

1.9%

14.6x

0.5x

6.3%

6.9%

2.4x

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĂƐ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ŵŝdžĞĚ ĂƐ ϯ ŝŶĚŝĐĞƐ ůŽƐƚ͕ Ϯ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶĚĞdž ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŐĂŝŶĞĚ ϯ͘Ϭй ĂŶĚ Ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ďƵLJŝŶŐ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ŝŶƚĞƌĞƐƚ ŝŶ h D Ed ;нϳ͘ϯйͿ͕ t W K ;нϬ͘ϮйͿ͕ ^d EͲ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ / ;нϱ͘ϲйͿ͕ ĂŶĚ E/d, ;нϬ͘ϲйͿ͘ KŶ ƚŚĞ ŇŝƉƐŝĚĞ͕ ƚŚĞ ŽŶͲ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ĚŝƉƉĞĚ Ϭ͘ϵй ĨŽůůŽǁŝŶŐ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕ E/' Z/ E Z t Z/ ^ ;Ͳϰ͘ϬйͿ͕ E'^h' Z ;ͲϮ͘ϲйͿ͕ ĂŶĚ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ s/d &K D ;ͲϭϬ͘ϬйͿ͘ ůƐŽ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ ŝŶĚŝĐĞƐ ĨĞůů Ϭ͘ϱй ĂŶĚ Ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ Z Ks ;ͲϭϬ͘ϬйͿ͕ t W/ ;Ͳϱ͘ϰйͿ͕ ĂŶĚ D E &/d ;Ͳϯ͘ϬйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ

Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria 26 NEM Insurance PLC 27 Presco PLC

8.90

2.3%

1.6%

2.3%

2.3%

14.8%

0.9%

4.95

0.0%

1.3%

0.0%

0.0%

-10.3%

-3.9%

142.00

0.0%

1.2%

0.0%

0.0%

38.8%

25.2%

9.7x

3.4x

5.2%

10.3%

29.00

2.3%

1.1%

2.3%

2.3%

16.4%

5.1%

4.5x

0.7x

5.7%

22.4%

2.55

0.0%

0.7%

0.0%

0.0%

12.0%

1.1%

2.3x

0.3x

8.6%

44.4%

2.32

0.0%

0.6%

0.0%

0.0%

9.7%

3.0%

6.2x

0.7x

9.5%

16.1%

16.95

-2.6%

0.5%

-2.6%

-2.6%

15.3%

6.3%

11.1x

1.7x

8.8%

9.0%

2.85

-4.7%

0.5%

-4.7%

-4.7%

10.0%

1.0%

0.2x

5.3%

0.3x

41.9%

0.9x

-11.5%

9.95

0.5%

0.4%

0.5%

0.5%

2.2x

7.0%

39.00

0.0%

0.4%

0.0%

0.0%

8.1%

3.8%

13.9x

1.1x

1.2%

7.2%

0.98

2.1%

0.4%

2.1%

2.1%

11.1%

2.3%

5.2x

0.5x

1.0%

19.2%

35.6%

18.5%

4.5x

1.2x

4.2%

22.3%

2.1x

1.2% 3.0%

8.1%

4.50

0.0%

0.4%

0.0%

0.0%

87.80

0.0%

0.3%

0.0%

0.0%

28 NASCON Allied Industries PLC 29 AIICO Insurance PLC

13.20

0.0%

0.3%

0.0%

0.0%

21.3%

6.9%

12.4x

2.5x

0.72

2.9%

0.3%

2.9%

2.9%

7.2%

1.1%

400.0x

0.7x

30 TotalEnergies Marketing Nigeri 31 Custodian and Allied Insurance

221.90

0.0%

0.3%

0.0%

0.0%

46.2%

9.3%

5.0x

2.0x

1.9%

19.8%

0.3%

7.90

0.0%

0.2%

0.0%

0.0%

24.7%

7.5%

3.9x

0.9x

7.3%

25.7%

32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC

20.25

-10.0%

0.2%

-10.0%

-10.0%

36.8%

14.7%

5.9x

2.0x

7.4%

17.1%

14.50

0.0%

0.2%

0.0%

0.0%

-1.3%

-0.8%

34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

22.35

0.0%

0.2%

0.0%

0.0%

20.7%

2.5%

3.9x

0.7x

1.8%

25.7%

5.80

-1.7%

0.1%

-1.7%

-1.7%

7.1%

0.8%

6.5x

0.7x

4.3%

15.3%

4.42

0.0%

0.0%

0.0%

0.0%

14.5%

2.6%

1.9x

0.3x

0.79

9.7%

0.1%

9.7%

9.7%

13.7%

0.8%

3.7x

0.5x

5.1%

1.53

1.3%

0.1%

1.3%

1.3%

10.1%

0.9%

3.3x

0.3x

3.3%

62.50

0.0%

0.1%

0.0%

0.0%

-41.3%

-9.2%

5.38

0.0%

0.0%

0.0%

0.0%

36 Oando PLC 37 Wema Bank PLC 38 Sterling Bank PLC 39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

T ic k er

1.3x

-1.0%

52.5%

2.3x

T ic k er

Vo lum e

P ric e C hg %

29.9

-9.1%

17.1

9.7%

Z EN IT H B A N K

11.0

0.6%

8.0%

T R A N SC OR P

10.8

2.1%

71.95

7.3%

SOVR EN IN S

10.5

-6.7%

P ric e C hg %

A C A D EM Y

0.55

10.0%

CHA M S

WEM A B A N K

0.79

9.7%

WEM A B A N K

C OR N ER ST

0.50

8.7%

N EIM ET H

1.89

B UA C EM EN T ST A N B IC

38.00

5.6%

UB A

10.3

0.0%

VER IT A SKA P

0.22

4.8%

M B EN EF IT

8.5

-3.0%

J A IZ B A N K

0.58

3.6%

J A P A ULGOLD

8.5

2.6%

A IIC O

0.72

2.9%

GT C O

8.2

0.0%

J A P A ULGOLD

0.40

2.6%

C H IP LC

7.4

-6.3%

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s P ric e

P ric e C hg %

T ic k er

Value

A R D OVA

11.70

-10.0%

Z EN IT H B A N K

278.2

0.6%

NNFM

7.20

-10.0%

NB

232.9

-4.0%

20.25

-10.0%

GT C O

212.5

0.0%

B UA C EM EN T

121.8

7.3%

VIT A F OA M

P ric e C hg %

CHA M S

0.20

-9.1%

SUN UA SSUR

0.41

-8.9%

UB A

82.9

0.0%

61.5

-0.9% -0.5%

C A VER T ON

1.60

-7.0%

FB NH

SOVR EN IN S

0.28

-6.7%

A C C ESS

56.5

-6.3%

D A N GC EM

55.6

0.0%

44.8

5.6%

37.6

-2.0%

C H IP LC

30.1% -20.3%

0.9x

P ric e

T ic k er

26.8%

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

T o p 10 G a i n e r s

ǁŚŝůĞ Z Ks ;ͲϭϬ͘ϬйͿ͕ s/d &K D ;ͲϭϬ͘ϬйͿ͕ ĂŶĚ EE&D ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ;ͲϭϬ͘ϬйͿ ĚĞĐůŝŶĞƌƐ͘ /Ŷ ƚŽĚĂLJ͛Ɛ ƚƌĂĚŝŶŐ ĞdžͲ ĂĚǀĂŶĐĞĚ ůĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ƐĞƐƐŝŽŶ͕ ;нϵ͘ϵйͿ͕ ǁĞ D zͲ

17.5%

1.9%

179.2%

22 FCMB Group Plc 23 United Capital PLC

ƐƚŽĐŬƐ ŐĂŝŶĞĚ ǁŚŝůĞ Ϯϳ ĂƐ ƐƚŽĐŬƐ ůŽƐƚ͘ Dz ;нϭϬ͘ϬйͿ͕ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ t D E< ;нϵ͘ϳйͿ͕ ĂŶĚ KZE Z^d ;нϴ͘ϳйͿ ůĞĚ ŐĂŝŶĞƌƐ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž

5.7%

0.0%

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϳdž ĨƌŽŵ ϭ͘ϵdž ĂƐ ϭϴ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

0.7x

0.0%

E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

4.9x

0.0%

20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

Afrinvest West Africa Limited

3.5%

14.7%

0.0%

Z t Z/ ^ ;േϮϯϮ͘ϵŵͿ͕ ĂŶĚ 'd K ;േϮϭϮ͘ϱŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

15.0%

0.0%

Divindend Earnings Yield Yield

9.2%

18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ

77.1%

0.0%

P/BV

3.0%

16 International Brew eries PLC 17 Okomu Oil Palm PLC

ƉĞĐƚ ƚŚĞ ;нϵ͘ϴйͿ͕ ŵĂƌŬĞƚ ĂŶĚ ƚŽ ƐƵƐƚĂŝŶ ƚŚŝƐ ƉŽƐŝƟǀĞ ŵŽŵĞŶƚƵŵ ĂƐ < Z ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ŝŶǀĞƐƚŽƌƐ ĐŚĞƌƌLJͲƉŝĐŬ ŽŶ ƐƚŽĐŬƐ ǁŝƚŚ ĂƩƌĂĐƟǀĞ ǀĂůƵĂƟŽŶ͘ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

-4.5% 34.6%

P/E

0.0%

ƵŶŝƚƐͿ͕ t D E< ƵŶŝƚƐͿ͕ E/d, ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ;ϭϳ͘ϭŵ ƚŽ േϯ͘ϭďŶ͘ dŚĞ ĂŶĚ ŵŽƐƚ ƚƌĂĚĞĚ ;ϭϭ͘Ϭŵ ƐƚŽĐŬƐ ƵŶŝƚƐͿ ůĞĚ ďLJ ǀŽůƵŵĞ ǁŚŝůĞ E/d, ;േϮϳϴ͘ϮŵͿ͕ E/' Z/ E ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

ROA

0.0%

8 FBN Holdings Plc 9 Lafarge Africa PLC

ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϱϮ͘ϰй ĂŶĚ ϴϰ͘ϳй ƌĞͲ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƐƉĞĐƟǀĞůLJ ƚŽ Ϯϭϲ͘ϲŵ ƵŶŝƚƐ ĂŶĚ േϭ͘ϱďŶ͘ ƵŶŝƚƐ , D^ ;Ϯϵ͘ϵŵ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ǁŚŝůĞ ǀĂůƵĞ

ROE

26.00

6 Dangote Cement PLC 7 Nestle Nigeria PLC

ŵĂƌŬĞƚ ƚŽ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ ŽŶƐĞƋƵĞŶƚůLJ͕ േϴϴϲ͘ϵďŶ ƚŽ േϮϯ͘ϮƚŶ ǁŚŝůĞ ϭϭďƉƐ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ zd ůŽƐƐ ŝŵͲ zd ƌĞƚƵƌŶ ƉƌŝŶƚĞĚ Ăƚ Ϭ͘ϳй͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĞĂŬĞŶĞĚ ĂƐ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ

Price Change Index to Date

197.00

4 Guaranty Trust Holding Co PLC 5 Zenith Bank PLC

D Ed ;нϳ͘ϯйͿ͕ ^d E / ;нϱ͘ϲйͿ͕ ĂŶĚ E/d, ;нϬ͘ϲйͿ͘ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ĐĐŽƌĚŝŶŐůLJ͕ ƚŚĞ E'yͲ ^/ ϰϯ͕ϬϮϲ͘Ϯϯ ƉŽŝŶƚƐ͕ ^ŚĂƌĞ ŝŶĚĞdž ƌŽƐĞ Ϭ͘ϳй ƚŽ ƌŽƐĞ ďLJ

Previous Price Current Price Change Weighting Change YTD

Current Price

0.74

WA P IC

0.53

-5.4%

ST A N B IC

UA C N

9.00

-5.3%

N GXGR OUP

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

41

WEDNESDAY JANUARY 5, 2022• T H I S DAY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these 'shares' on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust): is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 31Dec-2021, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 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 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 10.18% AIICO Balanced Fund 3.49 3.65 2.58% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.20% info@anchoriaam.com Anchoria Equity Fund 136.90 138.61 5.10% Anchoria Fixed Income Fund 1.15 1.15 -13.79% 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 ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.94 107.94 6.13% AVA GAM Fixed Income Naira Fund 1,067.66 1,067.66 6.77% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.05 2.05 -2.44% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.22 0.54% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Chapelhill Denham Money Market Fund Paramount Equity Fund Women's Investment Fund CORDROS ASSET MANAGEMENT LIMITED Web: www.cordros.com, Tel: 019036947 Fund Name Cordros Money Market Fund Cordros Milestone Fund Cordros Dollar Fund ($) CORONATION ASSEST MANAGEMENT Web:www.coronationam.com , Tel: 012366215 Fund Name Coronation Money Market Fund Coronation Balanced Fund Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED Web: www.ecobank.com Tel: 012265281 Fund Name EDC Nigeria Money Market Fund Class A EDC Nigeria Money Market Fund Class B EDC Nigeria Fixed Income Fund EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Emerging Africa Money Market Fund Emerging Africa Bond Fund

Bid Price Offer Price Yield / T-Rtn N/A N/A N/A investmentmanagement@chapelhilldenham.com Bid Price 100.00 16.98 139.85

Offer Price Yield / T-Rtn 100.00 9.72% 17.29 6.16% 141.45 5.08% assetmgtteam@cordros.com

Bid Price 100.00 132.22 110.44

Offer Price Yield / T-Rtn 100.00 9.44% 133.03 12.70% 110.44 5.90% investment@coronationam.com

Bid Price N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A mutualfundng@ecobank.com

Bid Price Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A N/A N/A N/A assetmanagement@emergingafricafroup.com Bid Price 1.00 1.04

Emerging Africa Balanced Diversity Fund 1.12 Emerging Africa Eurobond Fund 104.61 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund 1,394.10 FBN Balanced Fund 175.33 FBN Halal Fund 115.71 FBN Money Market Fund 100.00 FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund

122.31 150.11 Bid Price 1.00 4.01 1.72 1.21

Offer Price 1.00 1.04

Yield / T-Rtn 8.85% 4.15%

1.12 11.05% 104.61 4.56% invest@fbnquest.com Offer Price 1,394.10 176.54 115.71 100.00

Yield / T-Rtn 11.33% 5.01% 9.35% 9.20%

122.31 3.95% 152.15 13.48% fcmbamhelpdesk@fcmb.com Offer Price 1.00 4.01 1.76 1.21

Yield / T-Rtn 7.54% 3.50% 13.01% 6.25%

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 Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral 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 6.41% Vantage Balanced Fund 2.85 2.92 -0.06% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 143.28 143.33 -7.93% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 1.89% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 2.98% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.49 1.51 9.03% Lotus Halal Fixed Income Fund 1,161.25 1,161.25 8.76% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.78 11.88 10.72% Meristem Money Market Fund 10.00 10.00 10.17% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.93 101.93 7.55% Norrenberger Money Market Fund (NMMF) 100.00 100.00 9.06% 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 13.11% PACAM Fixed Income Fund 11.16 11.19 -8.08% PACAM Money Market Fund 10.00 10.00 7.75% PACAM Equity Fund 1.44 1.45 -9.03% PACAM EuroBond Fund 114.09 116.45 4.08% 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 128.09 130.48 4.98% 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 1.08 1.08 10.03% 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 N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A Stanbic IBTC Enhanced Short-Term Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A United capital Sukuk Fund N/A N/A N/A 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 Balanced Strategy Fund 13.25 13.37 0.47% Zenith ESG Impact Fund 14.69 14.85 0.55% Zenith Income Fund 24.89 24.89 4.28% Zenith Money Market Fund 1.00 1.00 7.14%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

13.33 126.93 99.78 17.56 21.17

13.43 130.09 101.97 17.66 21.27

3.67% 5.56% 0.57% 0.09% 16.10%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.01 5.84 17.68 1.00 19.98 157.77

4.11 5.94 17.88 1.00 20.18 159.77

6.87% 2.84% 9.20% 8.44% -2.60% -15.02%

NAV Per Share

Yield / T-Rtn

107.28

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

42

WEDNESDAY, JANUARY 5, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

French Scientists Discover New COVID-19 Variant As the world struggles with the rapid spread of the omicron variant of the coronavirus and the still-lingering delta variant, scientists in France said they had discovered a new variant containing multiple mutations.

Experts at the IHU Mediterranee Infection in Marseille say they discovered the new variant back in December in 12 patients living near Marseille, with the first patient testing positive after travelling to the central African nation of Cameroon.

The French scientists said they had identified 46 mutations in the new variant, dubbed B.1.640.2, that could make it more resistant to vaccines and more infectious than the original virus.

The results were posted on the online health sciences outlet medRxiv, which publishes studies that have not been peer-reviewed or published in an academic journal. B.1.640.2 has not been detected in other countries or been labelled a “variant of concern” by the World Health Organisation.

Mozambique’s President, First Lady Test Positive for COVID Mozambique’s President Filipe Nyusi and his wife Isaura Nyusi have gone into isolation after testing positive for coronavirus.

According to a presidential media statement, President Nyusi and his wife are not showing any symptoms but have gone into isolation as a precaution.

Mozambique’s Minister of Health Armindo Tiago said on state Radio Mozambique late Monday that the positive diagnosis was confirmed after a rapid test for the new coronavirus.

He said the president and his wife decided to carry out a test for SARS-CoV-2 for precautionary reasons. It was a rapid test, says Tiago, and the rapid test was positive. Due to it being a rapid test, he says, they will carry out a PCR test for confirmation.

Tiago did not reveal where the country’s first family are isolating but said a team of doctors would watch them.

President Nyusi renewed his appeal for compliance with COVID measures to prevent and combat the pandemic in a media statement.

200 Killed in Yemeni Fresh Clashes About 200 fighters have been killed in fresh clashes near the strategic Yemeni city of Marib, military and medical sources said Tuesday, as the seven-year war witnesses a surge in violence.

The Saudi-led coalition killed more than 125 Huthi rebels in airstrikes and clashes with pro-government forces in Shabwa and Al-Bayda provinces, bordering Marib, medical sources told AFP. Yemeni government sources said the pro-government Giants Brigade, backed

by Saudi Arabia and the United Arab Emirates, also lost 70 fighters. The clashes took place over the past 24 hours.

According to the United Nations, the Saudi-led coalition has been fighting for nearly seven years in support of Yemen’s government against the Huthis, in a conflict that has displaced millions and created the world’s worst humanitarian crisis.

As hostilities escalated, the rebels said they had seized a military ship flying a United Arab Emirates flag. The coalition insisted it was carrying medical supplies.

Indian Police Make First Arrest in Alleged Online Abuse of Muslim Women Indian police on Tuesday said they had made their first arrest in an investigation into an online app that shared pictures of scores of Muslim women for an “auction” in a case of apparent hatred toward the minority community.

In recent days, several Indian Muslim women said on social media that their pictures had been used without consent to create an open-source app on the GitHub platform.

The app was called Bulli Bai, a derogatory term to describe Muslim women.

Ismat Ara, a journalist, targeted by the app, said in a police complaint filed on Sunday that it was an attempt to harass Muslim women. “’Github’ is violent, threatening and intending to create a feeling of fear and shame in my mind, as well as in the minds of women in general, and the Muslim community whose women are being targeted in this hateful manner,” said the complaint, which Ara posted on social media.

A senior police official in the western city of Mumbai said that its cybercrime division had arrested a 21-year-old man and also detained a woman in the northern state of Uttarakhand in connection with the incident.

Saudi Arabia Helping to Spread Islamic Extremism, Says Hezbollah Leader: Lebanon’s Hezbollah militia leader verbally attacked Saudi Arabia in a Monday evening speech, accusing the Gulf kingdom of helping spread Islamic extremism around the globe and holding Lebanon “hostage.” Analysts say that Hezbollah’s sparring with Saudi Arabia deprives Lebanon of needed financial help.

In televised remarks, Iran-backed Hezbollah chief Hassan Nasrallah launched a broadside against the Saudi king. “Your highness the king, the terrorist is (the side) who exported Daesh ideology to the world, and they are you,” Nasrallah said, referring to the Islamic State group, as known by its Arabic name. He also accused Saudi Arabia of sending Saudi suicide attackers to Syria and Iraq and the war in Yemen.

Last week, Saudi King Salman urged the Lebanese to end what he called “the terrorist Hezbollah’s control” of Lebanon.

Many Lebanese had hoped that the resignation of their former information minister would have ended the war of words between the two sides, but Nasrallah opened old wounds.

Habib Malik, a history professor at the Lebanese American University, points to Shi’ite Hezbollah’s alleged attempts to proliferate drugs in the Gulf through fake fruit exports. He told VOA that

Hezbollah also sends “regular trainers, weapons and personnel to Yemen to help the Houthi (rebels) against the Saudis,” and it does Iran’s bidding in Lebanon.

Eight Killed in Southern Iran Floods At least eight people have been killed in flash flooding in Iran’s south due to heavy rains expected to last until later this week, state media reported on Tuesday.

“Following the floods and rains of the past few days in the southern regions of the country, we have seen an increase in casualties and deaths,” a spokesman for the national rescue service Mojtaba Khaledi said, quoted by state news agency IRNA. “So far, eight people have died, and two are still missing,” Khaledi said, adding that 14 others had been injured.

Five of the deaths occurred in Fars province, local crisis management official Rahim Azadi told the state news agency.

A local official had said Monday that at least two people were killed in flash flooding in the province.

Heavy rain damaged “agriculture, infrastructure, urban and rural housing”, Azadi said.

NATO Head Schedules Special Meeting with Russia Amid Ukraine Crisis NATO Secretary-General Jens Stoltenberg has scheduled a special meeting of allied ambassadors and top Russian officials for next week as both sides seek dialogue to prevent open conflict over Ukraine, a NATO official said on Tuesday.

Worried about Russia’s military buildup along Ukraine’s border, the Western military alliance has been seeking a meeting of the NATO-Russia Council for months, but the forum seemed in jeopardy after an espionage dispute in October.

The council meeting, a format used for dialogue since 2002, will take place in Brussels on January 12 after U.S. and Russian officials hold security talks on January 10 in Geneva.

The European Union’s top diplomat, Josep Borrell, flew to Ukraine on Tuesday for a two-day trip to show support for Kyiv, which aspires to join the bloc and NATO. First Cambodian American Mayor in US Takes Office A refugee who survived the Khmer

Rouge’s brutal rule has become the first Cambodian American mayor in the United States.

Sokhary Chau, a city councillor in Lowell, Massachusetts, was unanimously picked by his council peers to assume the legislative body’s top post on Monday.

He also became the city’s first Asian American mayor.

“God bless America, right? I was a refugee, now I’m mayor of a major city in Massachusetts,” the 49-year-old, who works for the US Social Security Administration, said after being officially sworn in. “I don’t know if that could happen anywhere else in the world.

I’m still trying to absorb it.”

In his inaugural remarks, Chau reflected on his family’s perilous escape from Cambodia and the former industrial city of Lowell’s deep immigrant roots.

Several People Killed in Chinese Construction Site Landslide A landslide at a construction site in southwest China’s Guizhou province has killed at least 14 people, state media reported Tuesday.

The official Xinhua news agency said workers were reinforcing a hillside when the landslide happened on Monday evening.

Rescuers have found 14 bodies and three injured people, with the cause of the accident “still under investigation”, Xinhua reported.

Rescue work is “completed”, with the three injured currently in stable condition, Xinhua added.

Photos published by state media showed rescue crews working overnight under floodlights, with masses of debris and crushed machinery visible.

Construction and industrial accidents are not uncommon in China, often due to lax safety standards.

In December, two workers were killed and twenty others rescued from a flooded coal mine in Shanxi province.

In July, 14 workers died in south China’s Guangdong province after a tunnel they were building flooded.

Suspected Militant Accused of Beheadings Killed in Indonesia In a shootout Tuesday, Indonesian security forces killed a suspected militant accused of beheadings in a sweeping counterterrorism campaign against extremists in remote mountain jungles, police said.

Provincial police chief Rudy Sufahriadi said Ahmad Gazali, 27, also known as Ahmad Panjang, a key member of the East Indonesia Mujahideen network, was fatally shot by a joint team of military and police officers near Uempasa hamlet in Central Sulawesi province’s mountainous Parigi Moutong district.

It borders Poso district, an extremist hotbed in the province.

The East Indonesia Mujahideen has claimed responsibility for killing police officers and minority Christians, some by beheading. It has pledged allegiance to the Islamic State group. Police have said Gazali conducted several of the group’s executions, including the beheadings of four Christian farmers last May. At a news conference, the joint team was patrolling the area when it came upon two militants in a camp, Sufahriadi said at a news conference. He said the second militant escaped into the jungle.

Tuesday’s shootout occurred four months after security forces killed two militants in another jungle shootout, including Ali Kalora, the group’s leader, who was one of the country’s most wanted militants.

43

WEDNESDAY, ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

BOARD OF HEROES BY HERO LAGER...

R-L: Onitsha Plant Manager, International Breweries Plc, Sylvester Ameke; Marketing Director, International Breweries Plc, Tolulope Adedeji; Head of Sales, International Breweries Plc, Sylvester Umemezie, and District Manager, International Breweries Plc, Chukwudi Ayogu at the unveiling of the first of its kind Board of Heroes by Hero Lager at the company's Onitsha Plant... recently.

2023: We’ve No Connections with Osinbajo, Tinubu, Fayemi, Says OPC Chuks Okocha in Abuja A Yoruba self-determination group, the Oodua Peoples Congress (OPC), has said it has no form of connection with Vice President, Yemi Osinbajo, APC national leader, Bola Tinubu and Ekiti State Governor, Kayode Fayemi, as potential presidential hopefuls as the nation journeys through 2023 general election.

Image maker of group, Yinka Oguntimehin, in a statement, said the organisation was not involved with a “Mega Accord of 57 civil society groups calling for southwest presidential candidate”, adding that those who added the name of OPC at a recent meeting were only being fraudulent.

The spokesman said the Gani

Adams-led body at no time announced it was mobilising for any politician or party, reiterating that Nigeria’s problem could only be addressed through restructuring, to allow regions develop at their own pace as it was in the 1960 and 1963

constitutions.

“We are aware that when elections are approaching, some politicians usually use the OPC’s name to curry favours. There are some groups that are affiliates of political parties that usually make themselves available for

Victor Ogunje in Ado Ekiti Nigerian Youth Congress (NYC), has lamented the persistent upsurge of kidnappings, killings, cattle rustling and banditry in the country, saying the obnoxious scenarios had been leading the youths from farming into menial

jobs.

NYC, therefore, called on the youth population to wake up from their slumber in 2022 and 2023 elections, by deploying their demographic strength in terms of vote population and launch themselves into relevance, by demanding what were due to

Denies being responsible for accident that killed four

The Nigeria Customs Service (NCS), Sokoto/Zamfara Area Command has condemned an attack on its personnel by hoodlums in Asara Village, Illela local government of Sokoto state.

In a statement yesterday by the command Public Relations Officer, Assistant superintendent of Customs (ASPC1) Tahir Balarabe Yusuf said the attack had no justification.

He explained that on Sunday, January 2, 2022, officers of the command’s mobile team based on credible intelligence that a vehicle was coming with some smuggled goods, mounted a stop and search operation at Asara village along Sokoto Illela Road.

The statement further added that about 0800hrs a vehicle, Toyota Avensis with tinted glass believed to be conveying smuggled items was flagged down for search but the driver upon sighting officers tried to escape and in the process almost knock down one of the officer who quickly jumped out of his way, but unfortunately, the vehicle ran into an oncoming

during elections or when they are paid to issue statements against us. Even if an angel emerges the president of this nation today, without restructuring, nothing will change for the better.

“Our position on the future of Nigeria is clearly stated in

our belief in restructuring. That is why we root for regionalism as the best option for peace and stability,” the group said, warning persons or groups using the OPC to gain popularity or influence to stop or face appropriate actions.

‘Kidnapping, Killings, Cattle Rustling Discouraging Youth Farmers’

Customs Condemns Attack on its Personnel in Sokoto Onuminya Innocent In Sokoto

politicians as at when due,” Oguntimehin said, stressing that those fronting as OPC members had no known ideals, programmes or activities.

His words: “When anything happens in Yorubaland, you don’t hear their voices, except

commercial vehicle which led to a head collision that resulted to the death of one passenger while others sustained injuries and were taken to a nearby hospital for treatment.

He said as a result of the accident some unscrupulous elements who disguised as sympathisers, “mobbed our officers at the point and in the process set one patrol vehicle and private vehicle belonging to one of the officers ablaze.”

Balarabe stated that in order to contain the situation from further escalation, the Customs Area Controller, Comptroller Abdulhameed Ma’aji sent a reinforcement team that succeeded in restoring law and order in the area.

He said the Area Controller, “while sympathising with the victims of the accident, appealed to the general public to always support Customs in its effort to block all illegal goods from coming into the country through our borders.”

"As we all know, the country is currently experiencing security challenges, there is a need to support Customs to get rid of

smugglers,” he stated.

On his part the Commissioner of Security and Career Studies, Col. Garba Moyi Rtd, said the state government has waded into the matter, assuring that it has been resolved.

them from leaders.

NYC, which spoke in Ado-Ekiti, Ekiti State capital, yesterday, in a statement by its state Chairman, Tosin Adesuyi, regretted how Nigerian youths were being incapacitated through unemployment and lack of commitment to tackle insecurity that have affected their farming businesses and education, with cases of bombings, kidnappings and killings now being perpetrated in schools.

Particularly, Adesuyi lambasted Governor Kayode Fayemi-led government for allegedly sacking some workers of the Ekiti State University and Ekiti State University Teaching Hospital, saying this had also contributed to the sufferings of youth.

"We have witnessed the incapacitation of our youth, so that they will be unable to take over their own affairs. Also, the

high rate of unemployment cum underfunding of our tertiary institutions have caused hunger, scarcity, lack and hike in prices of commodities, which in no doubt affecting negatively the standard of living of who have little or no financial means to cope.

"Different from the soured relationship between the government and the youth population, we cannot forget so quickly, how some of us, our brothers, sisters and parents lost their jobs at EKSU and EKSUTH. Many of them are now roaming the streets.

"The greatest blow is the state of insecurity confronting some of us youth farmers, who have now retired from farming to menial jobs as means of survival after their lifetime investments were invaded and destroyed by herdsmen.

"Whereas, the government at all levels preach diversification from

oil-based economy to agriculture, but botched the diversification policy, by not paying attention or giving adequate measures to curb the insecurity, so that our colleagues can return to farming," he said.

Adesuyi, therefore, called on Fayemi to restructure the Ministry of Youth and bring in capable hands to man the post as good strategy to develop the population, saying the youth policy of the present government has allegedly failed to provide succour for his colleagues.

"Youth development means transformation and much more to us than the cosmetics and window dressing affairs we have engaged in for a long time in this state. It is beyond having only football competitions to show as the achievement in the area of youth development in the last three years,” he said.

Anambra Govt, PDP Condole Ozigbo over Father’s Death David-Chyddy Eleke in Awka The Anambra State government and the leadership of the Peoples Democratic Party (PDP) in the state, have condoled with the governorship candidate of the PDP in the last governorship election, Mr. Valentine Ozigbo, over the death of his father yesterday.

Chief Andrew Ozigbo, 93, died on January 2.

Anambra government in a condolence letter signed by the Commissioner for Information and Public Enlightenment, Mr C. Don Adinuba, condoled the Ozigbo family of Amesi in Aguata Local Government Area.

Adinuba in his letter said, “Chief Andrew Ozigno is

distinguished by high principle and strong commitment to public good.

“When the result of the November 6 governorship election came in and it was clear that his son was losing by a wide margin, Chief Ozigbo asked the PDP candidate to accept the outcome of the poll even before the official announcement and congratulate the winner, Professor Chukwuma Soludo, of the All Progressives Grand Alliance (APGA).

“Despite his advancement in age, Chief Ozigbo always encouraged his son to play by the rules, eschewing all forms of violence and bitterness and fraud.

“He was always conscious

of his role and status as a foremost educationist and a devout Christian, who attended the morning mass daily for much of his life.

“Chief Ozigbo represented the typical Anambra spirit: a strong determination to excel. He was, for instance, an elementary school headmaster, which was a big position in those days, yet, he was not satisfied with his status in life.

“Through determination, further studies and continuous improvement as well as drive, he ended up a secondary school principal. He inculcated strong values in his family of three girls and four boys, including Valentine Ozigbo, his last child."

On his part, the state

publicity secretary of PDP, Mr Nnamdi Nwangwu, also condoled with Ozigbo on behalf of the party.

The PDP stated: "Every mortal must one day answer the call to the great beyond.

We are consoled that Chief Andrew Nwafor Ozigbo, a great leader was a mentor to many successful persons in and outside the state, the journey of life is not about how long but how impactful, the departed hero will live long in the memory of those he positively impacted.”

He said the entire members and leadership of PDP in the state sympathised with Ozigbo and his family at their moment of grief.

WEDNESDAY JANUARY 5, 2022 ˾ T H I S D AY

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NEWS

Bandits Kill Nine in Fresh Attack on Kaduna Communities

John Shiklam in Kaduna

Nine people have been killed while five others were critically injured following attacks by bandits on communities in Zaria and Igabi Local Government Areas of Kaduna State.

Security operatives were also said to have killed two bandits who were retreating to the forest.

The Commissioner for Internal Security and Home Affairs, Samuel Aruwan confirmed this in a statement yesterday , saying that the security forces reported the incidents to the state government.

The bandits were also said to have rustled hundreds of animals.

Aruwan said: “The security forces have reported to the Kaduna State Government that nine citizens have been killed, with five injured and hundreds of animals rustled by bandits during three attacks across Igabi and Zaria local government areas.

“According to the first report, bandits attacked Kudu da Gari settlement in Sabon Birni, Igabi LGA and killed seven residents, listed as: Dahiru Bilya, Jibrin Bilya, Dayyabu Adamu, Bashir

Habibu Jabir Shuaibu, Buhari Habibu and Abubakar Habibu”.

He said four pepple were left critically injured and were rushed to a medical facility for treatment.

The statement said: “In another incident, bandits invaded a herders’ settlement called Ruggar Goshe, on the outskirts of Kangimin Sarki village, Rigachikun, Igabi LGA and Auwal Koshe was shot dead by the brigands, who then rustled about 250 goats and sheep from the settlement.”

Aruwan said in yet another incident, “bandits attacked another herders’ settlement at Filin Idin Barebare, Zaria LGA, where they killed one Abubakar Mohammad while one Abubakar Aliyu sustained gunshot injuries on his ribs, and is receiving medical attention.

“The bandits then rustled an unspecified number of cattle from the settlement.”

He added that security operatives also reported that two bandits were neutralized around the outskirts of Tumbau village, Kerawa, Igabi LGA. “The bandits were retreating to the Malul forest when they were intercepted by the

troops, and two of them were neutralized in the ensuing firefight, with an AK-47 rifle recovered”, Aruwan added.

He said Governor Nasir

El-Rufai expressed grief at the reports of the attacks, and “prayed for the repose of the souls of the citizens who lost their lives and sent his deepest

condolences to their families.

“Governor El-Rufai commended the troops for their alertness and swift response during the engagement which

saw two bandits neutralized.

Patrols and monitoring have been sustained by security agency in the general areas”, the commissioner said.

COURTESY VISIT...

L-R: The Inspector General of Police, Usman Alkali Baba, and Governor Aminu Waziri Tambuwal of Sokoto State during the governor’s visit to the Force Headquarters in Abuja…yesterday

NSCDC Prosecutes Six Officers Bayelsa Police Arrests three Suspects for Misconduct in Kwara for Attempted Ritual Killing Hammed Shittu in Ilorin

The Nigeria Security and Civil Defense Corps(NSCDC), Kwara State command yesterday said it has prosecuted six officers for alleged official misconducts.

The State Commandant of Corps, Mr. Iskil Ayinla Makinde, disclosed in Ilorin while speaking with journalists on the activities of the command in the year 2021.

According to him, two of the officers have been transferred out of the state while the cases of four others have been taken

to the National Headquarters for disciplinary action.

He said the command received 1,027 cases bordering on theft, assaults, lands disputes, rapes, criminal breach of trust, burglary and debt among others.

He explained that 31 cases were prosecuted with six convictions recorded while 24 cases were still pending in court.

“378 are under investigation and 534 were resolved through Alternative Dispute Resolution.

3 cases were transferred and 50 were withdrawn with over N5m recovered”, he added.

Suspected Killer of Lucky Igbinedion’s Mother, Others, Remanded Adibe Emenyonu inBeninCity Suspected killer of Mrs, Maria Oredola Igbinedion, Dominion Okoro 25 and her accomplices were yesterday remanded in Edo State Correction Centre by a Benin High Court.

Other accomplices also remanded are Patience Okoro 39, Francis Taga 51, Ezikiel Danjuma 24 and Abraham Kuje.

Justice Efe Ikpomwomba remanded the accused persons in correctional Centre pending

the advice from the Director of Public Prosecution (DPP), of the state ministry of justice.

Earlier, the prosecutor, Peter Ngwumba, a Chief Superintendent of Police (CSP), told the court that the suspects were charged with murder, accessory to murder, negligent act, causing harm, robbery among other offences.

He said the suspect were arrested on December 3, 10 and 13 in Benin, Edo state, Aba in Abia state and Ikom in Cross River State respectively.

Sanwo-Olu Donates N50m to Nigerian Legion

Segun James

Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday officially launched the Armed Forces Remembrance emblem and appeal fund ahead of the January 15, 2022 commemoration of the Remembrance Day. The governor, who also donated N50million to the State chapter of the Nigerian Legion during the Appeal Fund and launching of the

Year 2022 Armed Forces Remembrance Day emblem in Ikeja, expressed his administration’s commitment to empower widows of fallen heroes.

“Every year, we set out to remember our fallen heroes, men and women that served the country, especially on the war front. Those that paid the supreme price while serving the nation and it is customary that on January 15, we remember them.”

Olusegun Samuel in Yenagoa Detectives of Bayelsa State Police Command in collaboration with youths of Sagbama Community have arrested three suspects for attempted ritual killing.

Preliminary investigation revealed that the suspects namely: Emomotimi Magbisa

‘m’ 15 years, Perebi Aweke ‘m’ 15 years and Eke Prince ‘m’ 15 years, all natives of Sagbama Community, alledgedly accosted one Endeley Comfort ‘f’ 13 years, hypnotised her to follow them to the apartment of Emomotimi Magbisa in Sagbama Community, cut her finger and sprinkle the blood on a mirror for ritual

purposes.

Vigilant youths noticed the suspicious movements of the suspects and raised alarm. The suspects were subsequently arrested and some substance suspected to be charms were recovered from them. The suspects have confessed to the crime.

The victim was rescued

and rushed to the hospital for medical attention. The suspects have been transferred to the Anti-kidnapping unit for discreet Investigation.

The Commissioner of Police Bayelsa State Command,Ben Nebolisa Okolo commended the efforts of the community youths for vigilance in the community.

New Nigerian Movement Blames the Youth for Nation’s Woes Hammed Shittu in Ilorin The National Coordinator, New Nigeria Movement (NNM), championing the generational shift come 2023, Alhaji Mohammed Ibrahim Ajia, has linked the nation’s woes to the failure of the youth to act with the commitment and courage when the need arises.

He insisted that the failure of the youths to get involved and take charge in the management

of the affairs of the country has led to the resurgence of insecurity, kidnapping, banditry, terrorism, secessionist agitations, ritual killings, cyber crimes and among others.

Ajia, a security expert and 2019 gubernatorial aspirant in Kwara State, spoke with journalists in Ilorin yesterday on the state of the nation and the New Year message to the people of the country.

He noted that though there was no excuse for the Nigeria to perform so abysmally, the young people must admit their culpability in the challenges that are currently threatening the fabric of the nation.

Ajia, who added that the collective nonchalance of the young people over the years would make it herculean for that most critical segment of the population to produce the

nation’s next President in about 13 months from now.

The former governorship aspirant challenged the youths to wake up and realize that they have all it requires to end the devilish acts stagnating the progress of the country.

He opined further: “Let us reflect on the event and activities of the 2021 and work out a way forward for the betterment of the country.”

A’Ibom Bans Activities of Scrap Scavengers Okon Bassey in Uyo

Akwa Ibom State Government has banned the activities of scrap scavengers in the state with immediate effect.

The state government said the ban follows several incidents of grave infractions including acts of criminality and threat to peaceful inter-ethnic relationship in the state by operators of this enterprise.

Government ordered the ban of the activities of scrap scavenger in a statement issued yesterday and signed by the Secretary to the State Government (SSG), Dr. Emmanuel Ekuwem.

“The action of government is also in consonance with public sentiments amidst popular complaints against the activities of these scavengers who wantonly violate peoples

properties, stealing and assaulting law abiding citizens in the process.” Dr Ekuwem stated.

It noted that “sometime in 2021, multiple explosions, causing fatalities, were recorded in Oruk Anam Local Government Area in the course of scavengers sorting out what turned out to be military brand explosives. About four lives were lost in this incident.”

“Similarly, on 2nd Jan, 2022 scavengers violated the premises of a citizen in Afaha Oku, Uyo Local Government Area in an attempt to cart away properties.

“While attempting to prevent the scavengers, the citizen was callously murdered in cold blood while mob action was visited on the scavenger assailants causing the death of the two scavengers.

Stop Destroying Yourselves, Be United, Wike Tells Ogonis Blessing Ibunge in Port Harcourt Rivers State Governor, Mr. Nyesom Wike has urged the Ogoni ethnic nationality to be more united to attract peace and development in the area.

This as the governor has berated the leaders and people of Ogoni for promoting disunity among

themselves while blaming the backwardness of their area on others.

Wike stated this yesterday at the 30th celebration of Ogoni Day with the theme, “Leaving no one behind”, held at Bori town, in Khana Local Government Area of Rivers State.

Wike regretted that the Ogoni leaders can hardly

defend the interest of Ogoni land and genuinely pursue issues of environmental degradation and resource control with the same zest demonstrated by their forebears like late Ken SaroWiwa.

He said: “People like Ken Saro-Wiwa and all of the people you are celebrating on Ogoni Day, how many of you

can today stand for what Ken (Saro-Wiwa) stood for. How many can today stand for the great Ogoni men who died for your struggle.”

He noted with regret how some Ogoni people have now debased the struggle and have rather used it to allegedly collect money from those who do not want the goals of the struggle achieved.

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wednesday january 5, 2021 • T H I S D AY

NEWSxtra

Police: 97 Kidnapped Victims Regain Freedom in Zamfara Onuminya Innocent The Nigeria Police Zamfara State Command said police and other security agencies have rescued 97 kidnapped victims in the state.

The Commissioner of Police (CP) in the state Ayuba Elkannah stated this at press briefing at the command headquarters in Gusau.

Elkannah disclosed that the victims consists of 25 women, including seven pregnant women, 10 children between two and seven years old.

The CP further added that the victims were rescued unconditionally from two local councils of Shinkafi and Tsafe in the State.

“A total of 97 kidnapped victims have regained freedom from two local government areas of Zamfara he stated .

He said the breakdown showed 68 from Shinkafi and 29 in Tsafe local government areas of the State.

He stated that among the victims were 33 male adults, 10 children and 25 women including pregnant and nursing mothers who have been in captivity for over three months.

“The 97 kidnapped victims hailed from Magarya , Maradun, Gusau and Isah local government areas of Zamfara and Sokoto states Ayuba added The CP explained that following

the extensive pressure mounted because of the ongoing military operation around the camp of the notorious suspected bandit’s leaders Bello Turji, who operates in Shinkafi, Zurmi and Birnin Magaji local government areas

of the state led to the release of 68 captives.

The Zamfara State Commissioner for Security and Home Affairs, Mammn Tsafe, who received the kidnapped victims on behalf of the State Governor Bello

Mohammed Matawalle expressed gratitude to God for the release of the victims and promised to provide medical attention to them before reuniting with them with their families.

One of the victims, who

spoke with THISDAY in Hausa language, said N5 million were paid to their abductors before they freed them.

THISDAY also gathered that the release of the 68 kidnapped victims by the notorious bandit’s

leaders Bello Turji may not be unconnected with the letter which he had written to the Emir of Shinkafi seeking amnesty from the State government so that he and his commanders can drop their arms and evil acts.

WATER FOR all…

L-R: Deputy Speaker, Lagos State House of Assembly, Hon. Wasiu Eshinlokun Sanni; the Iya loja of Lagos, Alhaja Fatima Binta Tinubu, and Chairman, Lagos Island Local Government, Hon. Adetoyese Olushi, at the inauguration of a bore hole donated by Tinubu at Agarawu Area of Lagos Island… recently ETOP UKUTT

Ayom Declares Interest in Bauchi Emirate Youths Protest Attack on Presidential Run Emir, Demand Suspension of Dogara

Chuks Okocha in Abuja

A member of the All Progressives Congress (APC), Moses Ayom, has declared his intention to contest the 2023 presidential run, promising to reverse the World Bank record of $26.2 billion annual economic losses for Nigeria due to poor access to electricity, if elected.

Ayom said the economic losses could be reversed through committed political leadership and that with good leadership, Nigeria’s economic challenges could be resolved also.

“We have all the natural and human resources to guarantee good life for every Nigerian, lead Africa and play big in the

top league of advanced world economies.

“Nigeria requires a sound leader; one that is committed to stimulating inclusive economic growth, technological innovation, and entrepreneurship that creates jobs and increases the standard of living for every Nigerian.

“A leader that is religiously committed to the promotion of justice, equity, and representation to give all entities in this country a practical stake and deep and heartfelt sense of inclusion as well as prioritising competence in public service, where governance is seen as a tool for the service of all, rather than an avenue for political patronage,” he said.

Prioritise Security, Fayemi Charges New LG Chairmen Victor Ogunje inAdoEkiti In a bid to checkmate kidnappings, killings and other crimes in Ekiti State, the state Governor, Dr. Kayode Fayemi, yesterday urged the newly inaugurated chairmen and vice-chairpersons of the 16 local government areas and 19 Local Council Development Areas (LCDAs) to place high premium on the security of lives and property.

The inauguration followed their victory at the December 4, 2021, council poll.

Speaking during the ceremony held at the Adetiloye Hall in Ado

Ekiti, Fayemi charged them to prioritise the security and welfare of the Ekiti people above their personal interest, and manage the election year well by averting crisis and violence within and outside their domain.

The governor, who encouraged them to devise people-oriented projects and programmes that would improve and have positive impact on the people, urged them to work with relevant agencies and ministries to key into his administration programmes and projects designed to bring about rural and community development in the state.

Vexed by the attack on the Emirs of Bauchi and Dass by yet to be identified hoodlums in Tafawa Balewa, last Friday, youths of Bauchi Emirate have staged a peaceful protest at the Palace of the Emir of Bauchi calling on the Emir, Dr Rilwanu Suleiman Adamu to as a matter of urgency, suspend Hon Yakubu Dogara as a traditional title holder of the Emirate.

The youths, who staged the protest yesterday, shouted

that the former Speaker of the House of Representatives, Hon Yakubu Dogara is not fit to still be addressed as the Jakadan Bauchi.

The youths, who carried placards with different inscriptions such as ‘Dogara is a disaster’, ‘No more Dogara in Bauchi’ and others also chanted unprintable words against the person of the former speaker who is currently representing Bogoro /Dass /Tafawa Balewa

Federal Constituency in the House of Representatives.

Spokesperson of the youths, Comrade Nurudeen Yau Gwabba, while speaking to journalists said: “We as youths of Bauchi Emirate are calling on the Emir of Bauchi to immediately suspend Yakubu Dogara as Jakadan Bauchi”.

“The call became necessary considering the humiliation meted out to the Emirs of Bauchi and Dass by hoodlums

from Bogoro and Tafawa Balewa LGA last week Friday on their way to attend a function they were duly and officially invited for.”

Gwabba stressed that, “we are proud of the Emir of Bauchi, moreso, he is the Chairman of the State Council of Traditional Rulers. What was done to him was a huge humiliation. As a traditional title holder of the Emirate, Yakubu Dogara should have averted it.”

Osinbajo Should Succeed Buhari in 2023, Says Federal Lawmaker Ibrahim Shuaibu in Kano A member of the House of Representatives representing Tarauni federal constituency in Kano State, Hon Hafiz Kawu, has described Vice President Yemi Osibanjo as the “natural successor to President Muhammadu Buhari” in 2023.

Kawu, a former aide to

Osibanjo, said the vice president has what it takes to succeed Buhari, owing to his “experience and versatility in managing an entity.”

At a press conference held in Kano yesterday, the lawmaker said Osibanjo, even though he had not yet declared his intention to contest for the presidency, is the most suitable

person to succeed Buhari.

He said Osibanjo has the capacity, experience, and capability to lead Nigeria over every other aspirant in the All Progressives Congress (APC).

According to him, “The vice president has the capacity to improve the economy of the country in view of the fact that he is the one who designed all

social investment programmes that have positively impacted millions of Nigerians.

“I am sure he would continue from where the president stopped because he has the mindset of developing Nigeria.

He is the natural successor of to Buhari. Nigeria is in his heart. He believes so much in Nigeria.”

Ortom Dissolves Exco, Reappoints Eight Commissioners Benue State Governor, Samuel Ortom, has approved a partial dissolution of the state executive council with immediate effect.

The Secretary to the State Government (SSG), Prof.

Anthony Ijohor, announced this in a statement made available to journalists yesterday evening.

According to the statement, eight commissioners were however retained, while eight others were nominated for screening and confirmation as commissioners by the state House of Assembly.

Those retained include the state Attorney General and Commissioner for Justice, Mike Gusa; Commissioner for Health and Human Services, Dr. Joseph

Ngbea; Commissioner for Finance, David Olofu, and Commissioner for Lands, Survey and Solid Mineral, Bernard Unenge.

Others are Commissioner for Housing and Urban Development, overseeing the Ministry of Information, Culture and Tourism, Chief Ekpe Ogbu; Commissioner for Energy, Science and Technology, overseeing the

Ministry of Education, Dr. Godwin Oyiwona.

The Commissioner for Women Affairs and Social Development overseeing the Ministry of Youth and Sports Development, Mrs. Nylazungwe Igirgi, and the Commissioner of Rural Development overseeing the Ministry of Water Resources, Ukaha Victor, were also retained.

The Oddiri family in Delta State has announced the passing of an accomplished federal civil servant and a leading light in commercial arbitration in Nigeria, Mrs Eunice ‘ Rukevbe Oddiri. Late Oddiri, who was fondly called Nee Esiso, was a retired Director of the Federal Ministry of Justice, who served as Director, Regional Centre

For International Commercial Arbitration, between 1999 and 2014 passed on , on Tuesday 7 December 2021 in Lagos. She was 68 years old.

Mrs Oddiri was an LLB law graduate of Ahmadu Bello University, Zaria, 1978 and The Nigerian Law School.

She was called to the Bar as a Solicitor and Advocate of

The Nigerian Supreme Court in 1979.

Mrs. Oddiri joined the Federal Civil Service as a Pupil State Counsel, Federal Ministry of Justice in 1980. She rose to the post of Director before she retired in 2014.

Mrs. Oddiri had a brief stint as Company Secretary Legal Adviser of The Daily

Times group of newspapers and companies.

The highlight of her Public Service career, was her secondment to the Regional Centre for International Commercial Arbitration Lagos, as Director of the Centre between 1999 and 2014 when she retired from the civil service.

George Okoh inMakurdi

Osun Gov Gifts Cars to Workers, Says they are Brains Behind Success Pioneer Female Arbitrator, Eunice Oddiri, Passes On YinkaKolawoleinOsogbo In grand display of pomp and circumstance yesterday morning, Osun State workers welcomed the state Governor, Adegboyega Oyetola, into office after the yuletide break.

They lauded the contributions of the governor to the growth and development of the civil service in the state as manifested in the priority

given to their welfare and well-being since assumption of office by the governor.

This is even as Oyetola presented cars and other star prizes facilitated by the state government to outstanding workers for their commitment and dedication to duty, saying their unflinching support, cooperation and understanding had been magnanimous.

WEDNESDAY, ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

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WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Super Eagles players in a group photo session shortly after the send-forth dinner for them in Abuja... Last night.

PHOTO: NFF Media

AFCON 2021...AFCON 2021...AFCON 2021...

Ahmed Musa Bullish as Super Eagles Depart for Cameroon Today Insists Eagles not scared of Mo Salah Duro Ikhazuagbe

With barely six days to the blockbuster Group D showdown between Nigeria and Egypt at the 2021 Africa Cup of Nations in Garoua, Cameroon, Skipper of the Super Eagles, Ahmed Musa, has restated the resolve of his colleagues to give the Pharaohs a run for their money.

Super Eagles are due to fly into Garoua, Cameroon today by a chartered flight after they were given a send-forth dinner in Abuja last night.

Speaking during Tuesday’s virtual media session, the Fatih Karagumruk forward in the Turkish league insisted that Super Eagles were not going to be having sleepless nights over Egypt’s topmost marksman, Mohamed Salah.

“Everyone is talking about Salah but if you look at our team, we also have lots of players they (Egyptians) should be worried about.

“So we don’t have to think about Salah. They have to think about our own players. They talk about Salah but we have players like Samuel Chukwueze and others on the wings who are equally dangerous, so that’s football,” observed Musa whose exploits against Argentina at the last two World Cups remain fresh.

The coy former Leicester City forward remains positive about the chances of the Eagles in Cameroon despite the not impressive preparations leading to the kick off of the tournament.

“For me I think we are ready because we have played lots of matches together in the past. Like I said, we are 100 per cent ready.

We are not going to Cameroon to see the beauty of the country

but to win.

“I remember during the qualifiers when we sealed qualification, we said we are not just going to the AFCON to complete the numbers but we are going to come back with the trophy,” stressed Musa who at the weekend bolstered his former

club in the domestic league Kano Pillars with N3million new year gift.

He’s unfazed with the presence of 13 debutants in the tournament in Augustine Eguavoen’s squad to Cameroon.

“In each tournament you will always see new players.

I don’t think there is any new player going to the AFCON that has not been with us since day one,” Musa stressed. “So we are together and we know each other but it’s just something little the coach just need to add into the team,” he noted Salah who is in prolific form

for Liverpool this season, will lead Egypt against the Super Eagles in the Group D opener at the Africa Cup of Nations in Cameroon.

Salah leads all scorers in the Premier League this season with 16 goals, including one in the 2-2 draw with Chelsea last Sunday,

his last match before leaving for Cameroon.

Although Egypt have won a record seven AFCON titles, they have only triumphed twice in seven clashes with three-time champions Nigeria in the competition ahead of the January 11 showdown.

....Eguavoen Defends Non-inclusion of Domestic Players in his Squad Super Eagles interim Head Coach, Augustine Eguavoen, has defended the noninclusion of more than one home-based players in his squad for the 2021 Africa Cup of Nations in Cameroon.

Enyimba’s goalkeeper, John Noble, is the only player from the domestic league in Eguavoen’s 28-man squad for the tournament.

“The challenge for us is the little time we have to prepare for the competition. That didn’t give us room to invite more home-based players,” the former defender told a virtual media session yesterday.

“I initially wanted to include four or five players from the NPFL in the team, but there was no way we could do that with the limited time we have to prepare for the competition.

The former Nigerian international stressed that the late Stephen Keshi used five players from the domestic league to win the 2013 edition in South Africa because he had ample time to train with the NPFL players.

“During Keshi’s time, they

had enough time to prepare the team. The team spent quality time together and also played friendly games,” recalled Eguavoen fondly called Cerezo in his days with the senior national team.

He however remains optimistic that Saudi Arabia club side Al Shabab was going

to release Odion Ighalo to link up with the rest of the squad in Cameroon.

The Eagles will open their 2021 AFCON campaign on Tuesday against seven-time champions Egypt. Sudan and Guinea Bisau are the other teams in Group D with Nigeria.

Augustine Eguavoen...optimistic about Eagles chances in Cameroon

Sanwo-Olu, Gbajabiamila, Omo-Agege, Others in FG’s Delegation to Cameroon The Federal Government has named a high powered delegation to lead the Nigerian contingent to the forthcoming Africa Cup of Nations tournament starting in Cameroon next Sunday, January 9, 2022.

The delegation will be led by the Lagos State Governor, Mr Babajide Sanwo-Olu. The Speaker of the House of Representatives, Honourable Femi Gbajabiamila, the Deputy Senate President, Senator Ovie Omo-Agege, the chairmen of the

Senate and House Committees on Sports, Senator Obinna Ogba and Honourable Olumide Osoba are also in the delegation.

Some other members include the Head of Civil Service of the Federation, Dr Folashade Yemi-Esan, the Governor of the Central Bank of Nigeria(CBN), Mr Godwin Emefiele, Minister of Works and Housing, Mr Babatunde Raji Fashola, Minister of Youth and Sports Development, Mr Sunday Dare, Minister of Agriculture, Dr Mohammed Abubakar, Ministers

of State for Finance, Prince Clem Ikanade Agba, Agriculture, Mustapha Baba Shehuri and Science and Technology, Mohammed Abdullahi, the Special Adviser to Mr President on Sports, Daniel Amokachi as well as a representative of the Department of State Services (DSS).

Others expected to be part of a special delegation include; the President of the National Association of Nigerian Students(NANS), Sunday Asefun; Chairman of Airpeace,

Mr Allen Onyeama; Executive Director, Premier Lotto, Mr Bisi Adebutu; Executive Director, Marketing, Nigeria Breweries, Mr Emmanuel Orhiakhi; Managing Director, MTN, Mr Karl Toriola; and the Managing Director of Coca-cola, Mr Alfred Olajide.

The delegation is expected to leave for Cameroon on Monday, the 10th of January, 2022 ahead of Nigeria’s first game against Egypt the next day in Garoua.

The Super Eagles are in Group D alongside Egypt, Sudan and Guinea Bissau.

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WEDNESDAY, ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

Lukaku Apologises, Back to Chelsea Squad Romelu Lukaku has apologised and will return to the Chelsea squad for today’s Carabao Cup semi-final first leg against Tottenham, manager Thomas Tuchel announced yesterday.

Lukaku was dropped for Sunday's Premier League draw with Liverpool after comments he made in an interview recorded three weeks ago.

The pair had a "calm" meeting on Monday about the striker returning.

"He apologised and was back in the squad for Tuesday’s training," Tuchel said.

"We have given it time to look back on. For me, the most important thing was to understand - and clearly understand - it was not

intentional. He did not do this intentionally to create this kind of noise in front of a big game."

In an interview recorded in December, Chelsea's club record £97.5m signing said he was "not happy" with his bit-part role under Tuchel and that he would like to return to Inter Milan in the near future.

Before Sunday's game against Liverpool, Tuchel said he had left the 28-year-old out of the squad to "protect the preparation".

Tuchel added: "Even before, when he seemed to be, in his opinion, ready to play after his injury from the start and we thought he needed to readapt to the intensity a little bit more, there was never the slightest behaviour against the team.”

Watford Release Sarr for AFCON Duty with Senegal

Romelu Lukaku....has apologised for the ‘offensive’ interview and restored to the Chelsea squad

PHOTO: AP

Lamela, Schick, Taremi on 2021 FIFA Puskas Award Shortlist Erik Lamela, Patrik Schick and Mehdi Taremi are on the 2021 FIFA Puskas Award shortlist for the best goal.

The award recognises the best finish in world football during the year.

Lamela scored a ‘rabona’ goal - wrapping his left leg around the back of his right - for Tottenham in March's 2-1 Premier League defeat at Arsenal.

Schick's long-range effort for the Czech Republic at Euro 2020 has also made the three-goals shortlist.

After spotting Scotland goalkeeper David Marshall off his line in his country's 2-0 victory over Scotland at Hampden Park, Bayer Leverkusen striker Schick struck a left-footed shot from the halfway line.

Iran forward Taremi's overhead kick for Porto against Chelsea in last season's Champions League is the third contender for the prize.

The winner will be announced at The Best FIFA Football Awards in Zurich on 17 January.

If the award goes to the 29-year-old Lamela, now at Sevilla after his summer move, it will be the second Spurs goal in a row to come out on top, with Son Heung-min winning last year for his 80-yard run and finish against Burnley.

Winger Ismaila Sarr joined up with the Senegal squad for the Africa Cup of Nations yesterday following a row about his selection with his English Premier League club Watford.

The Senegalese football federation (FSF) said 23-year-old Sarr "had taken an Air France flight from London at 11.30am and arrived in Dakar in the evening".

Sarr's participation in the tournament that kicks off in Cameroon on Sunday had been in doubt after the FSF claimed Watford were blocking his release.

The FSF claimed last week Watford had displayed

"disrespectful, pernicious and discriminatory behaviour".

Watford believe Sarr, who has not featured in a Premier League match since November and was not even named among the substitutes in their last two games, is not fit enough to feature at the AFCON. Senegal's other Premier League stars, Sadio Mane of Liverpool and Chelsea goalkeeper Edouard Mendy, joined up with the squad at their training base outside the capital Dakar on Monday.

Senegal, runners-up in 2019, are one of the favourites for the African title.

S’Leone Coach Receives Death Threat over Team Selection

L-R: Erik Lamela, Patrik Schick and Mehdi Taremi have been shortlisted for the FIFA Puskás Award.

PHOTO: FIFA

Sierra Leone coach John Keister has revealed that he received death threats prior to naming his squad for the Africa Cup of Nations, which begins on Sunday in Cameroon.

The 51-year-old received two threats - regarding the inclusion of certain players - a day before announcing his 28-man squad and reported them to police in the west African country.

"I think it's very, very sad that it has to come to this," Manchester-born Keister told BBC Sport Africa yesterday.

"Whatever walk of life you

Donnarumma Tests Positive for COVID

Gianluigi Donnarumma... tests positive for COVID. PHOTO: Reuters

Paris Saint-Germain goalkeeper, Gianluigi Donnarumma, has tested positive for Covid-19, the club announced on Tuesday, the day after he played in a French Cup match.

Donnarumma will miss Sunday's Ligue 1 match in Lyon with Costa Rican Keylor Navas likely to fill in.

The 22-year-old Italian international joins a growing list of PSG players who have been sidelined by positive tests.

Five players, including Lionel Messi and Danilo Pereira, were absent from the team that eased

into the last 16 of the French Cup on Monday with a 4-0 win over fourth-division Vannes.

"It's a very strange virus. We are following the situation of each player. We know that there may be more infections," said PSG coach Mauricio Pochettino on Monday.

"We are a team that respects the controls and the obligation to test ourselves. We hope that there will be no additional cases."

Juan Bernat, who contracted the coronavirus during the Ligue 1 winter break, is no longer on the list, after obtaining two negative

tests on Monday and Tuesday, the club said.

The Spanish defender will resume training today.

PSG is not alone in facing numerous positive tests following an increase in infections in France after the arrival of the Omicron variant.

Several Ligue 1 teams have been hit including Bordeaux, Lorient, Angers and Lille.

Sunday's match between Angers and Saint-Etienne has already been postponed while Friday's meeting between Bordeaux and Marseille is under threat.

are in, nobody deserves that."

Keister added: "I don't think it should get to that point where my life is being threatened because people feel players should be in (the squad) - and if they are not, this is what they are going to do."

Keister featured for several British clubs, including Walsall and non-league Margate, during his playing career and was capped by Sierra Leone between 1997 and 2003.

He is in his second spell as national coach and has led the Leone Stars, ranked 108th in the world, to the tournament finals for the first time since 1996.

"We have come a long way (so) there's no reason for (the death threats),” added Keister.

"I've got family, I look after these boys and I have a job to do. It gets me angry and for me, where I have come from and my background, I feel there is something I need to do about it.

"Regardless of the job, I need to do something about it."

His squad, including one-time England defender Steven Caulker and former Middlesbrough striker Kei Kamara, 37, will face holders Algeria, Ivory Coast and Equatorial Guinea in Group E at the Nations Cup.

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Wednesday, January 5, 2022

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Price: N250

MISSILE Gov Nyesom Wike to Buhari

“You saw a President that said this budget cannot be implemented but he went ahead and signed it. Something you know will not help the country, he couldn’t tell the National Assembly that he won’t sign it. But the electoral bill, you now found errors that direct primary will be too expensive…and you didn’t sign.

Haba! I don’t understand it and it doesn’t make sense’’--Rivers State Governor, Nyesom Wike, berating the hypocritical action of the president.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Remembering January 6 T

omorrow will be the first anniversary of an odious event in the history of American democracy.

On that day, a mob inspired by the outgoing President Donald Trump of the Republican Party, invaded the Capitol, the Parliament of the strongest liberal democracy. At least the violence resulted in five deaths including those of police officers.

On a prefatory note this reflection on January 6 in American history is far from being an undue indulgence in Afghanistanism. Many urgent topics about Nigeria abound, you would probably say. Yet, the assault on liberal democratic institutions and time-honoured values that took place on that day in America speaks to the Nigerian situation at least in one respect. At present, there is a lot of anxiety about Nigeria’s experiment with liberal democracy. Even making a law to back electoral reforms has become such a contentious issue. Not a few members of the Nigerian elite, in their exogenous fixation, are wont to cite American democracy as the universal standard. After all, the Nigerian presidential system of government is said to be borrowed from the model of the United States.

So, if January 6 could happen in America, nothing should be taken for granted about the liberal democratic development anymore. By implication, a lot of work has to be done to deepen democracy Nigeria. This is the message of this tragic American event to Nigeria or any other country desirous of building liberal democracy for that matter.

It is, therefore, relevant that all forces of human progress should be conscious of this trend.

For about six months now, the American Congress has been investigating what happened on January 6, 2021. In fact, a bipartisan Committee of the House has described the date as “one of the darkest days of our democracy.”

The purpose of the assault on the Capitol was to stop the certification of the 2020 presidential election won by Joe Biden of the Democratic Party. Months later an attempt by the Congress to sanction Trump for the role he played in the riot was stopped by the republicans with their votes in the Congress despite the overwhelming pieces of evidence to link the former president to act. A triumphant Trump provided his own “alternative fact” of what happened only three months ago amidst his supporters like this: “The insurrection took place on November 3 (2019), Election Day. January 6 (2021) was the Protest!”

This will, of course, sound absurd to many people across the ideological spectrum. But the tragedy of the most developed country in the world is that about 23 million Americans (representing 9% of the population) actually justify the violence employed Trump supporters to abort the electoral process. This is democracy symptomatic of the larger pathology of political decay afflicting America.

Indeed the January 6 event and other Trumpist oddities recorded in American should be viewed within the context of the retreat and resilience of liberal democracy universally. While Trumpism still flourishes in America, right-wing populism is growing in parts of Europe at the expense of institutions of liberal democracy.

Hence, many thinkers on liberal democracy outside America have been expressing concern about the trend.

For instance, only two days ago, a Canadian scholar, Thomas Homer-Dixon, warned in a newspaper article as follows: “By 2025, American democracy could collapse, causing extreme domestic instability, including widespread civil violence. By 2030, if not sooner, the country could be governed by a right-wing dictatorship.” The irony of this grim prediction should not be lost on Nigerians who are used to predictions of the disintegration of their country by some pundits drawing inspiration from some foreign “experts” on Nigeria. The Nigerian pundits often quote some inchoate documents based on the work of some American researchers.

However, Homer-Dixon says : “We mustn’t dis miss these possibilities just because they seem ludicrous or too horrible to imagine…

“In 2014, the suggestion that Donald Trump would

United States President Joe BIden become president would also have struck nearly everyone as absurd. But today we live in a world where the absurd regularly becomes real and the horrible commonplace.”

For the political scientist, the point at issue is that Canada should be prepared for the “ terrible storm” that may emanate from its southern neighbour The views of Homer-Dixon, a scholar of violent conflict for over 40 years, cited above would itself be deemed outrageous in America a decade ago. However, many observers may not glibly dismiss this gloomy prognosis for American democracy anymore. Although some American scholars wrote extensively about the decay and possible collapse of the political order in America, yet some others were still busy lecturing the rest

of the world, especially Africa, about the importance of building institutions and cultivating democratic values.

For instance, the refrain was that “Africa doesn’t need strong leaders, but strong institutions.” Former President Barack Obama was sold on the ideas of these American theorists as he frequently talked down on Africa in his eight years in power. He preached institution-building and democracy as he made stopovers in a few African countries. Obama’s administration hardly developed any credible African policy. Significantly, the first black man to be American president never visited Nigeria, the largest black nation on earth. He probably didn’t see any democratic prospects in Nigeria. Such was the level of American arrogance abut democracy in relating to other countries. And four years after Obama, there was January 6 exposing the fragility of some of the great American institutions.

This trend should, at least, compel a critical rethink of the fascination of the Nigerian intellectual and political elite with foreign models. They revel in taking lessons from abroad on how to solve problems with glaring domestic solutions which are inexplicably ignored.

The self-flagellation of a section of the elite should also be tempered.

This point can be illustrated by a usual story. Some members of the political elite in the academia, politics and business are being engaged in after-dinner chats by western diplomats in Abuja or Lagos. A western diplomat asks a Nigerian sitting next to him at the dinner why elections are such a political mess in Nigeria.

The Nigerian respondent fires back that the West often endorses the elections in Nigeria despite the critical observations of foreign observers of the elections. The verdict of the western diplomat is taken as authoritative in matters of election because he represents “an advanced democracy” in Nigeria. In subsequent public comments, some of the Nigerians at the dinner would be quoting the foreign diplomat as if his words are those of the oracle on Nigerian politics.

Now, the just imagine the reverse of the above scenario.

‘Tribal Allegiance’ in 2022 Nigeria?

The debate on the ownership of oil and gas resources featuring two elder statesmen- former President Olusegun Obasanjo and a leading voice from the Niger Delta Chief Edwin Clark - could ultimately be salutary.

That’s if in the process ideas of equity and structural balance are proffered to illuminate the current attempt to review the problematic 1999 constitution.

In the response of Obasanjo, he advised that Clark and other Niger Delta voices should suppress “tribal allegiance,” so that the “state could emerge.”

The former president is characteristically nationalistic in his statement; but he should have paid a greater regard to the sensibilities of the people of Niger Delta while taking a more wholistic views of things.

Talking about ownership, Obasanjo seems to be mistaking legality for legitimacy.

However, the purpose today here really is to draw attention to some of the terms Obasanjo used in his controversial statement.

As it is the case with a lot of discussions in the public sphere, the Obasanjo intervention is riddled with what former British Prime Minister Winston Churchill called “terminological inexactitude.”

First, the Nigerian state has not only emerged, it is firmly in place.

Instead it is the Nigerian nation that requires enormous efforts by the leadership and the people to build in the interest of all.

It is most inappropriate to talk of “tribal allegiance’’ in the 2022 Nigeria.

Like Obasanjo, politicians, public intellectuals and even professors still call Nigerian ethnic groups, made up of tens of millions of people, tribes.

There could be ethnic allegiance, but not tribal loyalty anymore in 2022!

Obasanjo Even 100 years ago, the ethnic groups in Nigeria could not be described as “tribes,” much less in 2022.

There are no more tribes in Nigeria.

Instead there are ethnic groups and nationalities.

Some groups even describe themselves, with a measure of justification, as “nations.”

Colonial anthropologists used the pejorative word to describe African in the 19th Century.

It is unbelievable that Africans have maintained this insulting description of their ethnic groups, nationalities and nations.

It is not happenstance that the British media will never describe an advocate of Scottish independence of having a ‘tribal allegiance.”

But the Nigerian media still wrongly describe Ijaw, Kanuri or Efik as tribes.

A Nigerian diplomat Washington can hardly tell an American politician, businessman or scholar over dinner in Washington that January 6 exposed the decay and retrogression in American democracy.

In sum, it is unhelpful being cynical about the dangerous developments in American. The important thing is to see things for what they are: a reminder that the struggle for popular democracy, social justice and genuine freedom is a work in progress.

In other words in matters of democracy, nothing should be taken for granted, not even in America.

PolicyNotes Missing Guns and Primacy of Audit

A

lthough it is often said that Nigerians have become inured to shocking news, yet not a few persons must have been shocked at the lead story of THISDAY on Monday : “2019 Audit report: 178,459 Firearms, Ammunition Missing from Police Armoury.”

The shock would particularly be as a result of the widespread allegation that some of the missing firearms might have been transferred to criminals by those who were the custodians of the lethal items.

But the other less pronounced surprise would be that the much-derided office of the AuditorGeneral could be so effective that it could even audit firearms and ammunition in the custody of the police.

Auditing the police?

That would be unimaginable in some quarters before the audit report was made public.

The Office of the Auditor-General should be commended for this effort, even though it is its statutory duty. It is now the responsibility of the institutions of government that should act on the report to do so with dispatch.

The report would not only be a surprise in some quarters, it would also be a salutary reminder that a system is still in place despite the its huge deficits.

This is an important point to stress for those who have written off the public sector and its agencies and departments.

The system is not dead, after all.

Yes, there are structural and human problems with the system. But it can still work if it is sufficiently enabled to do so.

Besides, this audit of guns and bullets in the police armoury should bring to the fore the primacy of audit in public finance and economic management This primacy of audit had been historically established as a matter of public service policy before the latter-day reforms.

Some of the reforms came in the wake of the wave of “democratisation and good governance” of the late 1990s. The Bretton Wood institutions and other development agencies inspired some of these public sector reforms. Laws were enacted for public procurement and “due process” became a slogan of the public service. Accountability became a battle cry of advocates of reform. Anti-corruption and pro-transparency agencies were established.

Some of these functions were more or less subsumed in the primary duty of the auditor.

It is now often forgotten that if the Office of the Auditor-General is suitably equipped to perform its duty, a greater part of the irregularities in the public sector would be avoided.

As civil servants of the old would say, the ethical fabric of the civil service was solely erected in the famous General Orders, the rules and regulations guiding the conduct of public servants as well as defining the terms of discipline.

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