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IEA Cuts Oil Demand Forecast as New Lockdowns Temper Recovery Barkindo: Renewables not replacing fossil fuels in coming decades Emmanuel Addeh with agency report The International Energy Agency (IEA) has lowered forecasts for global oil demand as renewed lockdowns

to contain the COVID-19 pandemic temper the recovery expected this year.

In its latest oil market report, the IEA cut its consumption estimate for this quarter by 600,000 barrels a day, projecting

a slight decline from the end of last year, Bloomberg reported.

Still, the world’s swollen oil inventories stand to abate by 100 million barrels in the three-month period as Saudi Arabia and other OPEC+

nations curb supplies.

The agency, in a monthly report, said: “The global vaccine rollout is putting fundamentals on a stronger trajectory for the year, with both supply and demand

shifting back into growth.

“But it will take more time for oil demand to recover fully as renewed lockdowns in a number of countries weigh on fuel sales.”

Oil prices have rallied

this year as Saudi Arabia announced additional production cuts to be made over the next two months.

Brent futures traded above $55 Continued on page 8

EAC: Nigeria Needs Macroeconomic Stability to Attract Investments... Page 6 Wednesday 20 January, 2021 Vol 26. No 9418. Price: N250

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Quit Notice to Herders Unconstitutional, Presidency Cautions Akeredolu Urges dialogue in resolving security challenges Deji Elumoye in Abuja The Presidency yesterday called to order Ondo State Governor, Mr. Rotimi Akeredolu (SAN), over

his seven-day ultimatum to herders to vacate the forests in the state following growing insecurity allegedly perpetrated by the pastoralists.

It expressed concern that the

governor, as a legal luminary, could unilaterally issue the quit order without taking cognizance of the constitution that guarantees the rights of citizens to movement and to

Asks govs to show restraint

live in any part of the country.

It said in a statement by President Muhammadu Buhari’s media aide, Mallam Garba Shehu that the governor ought not to have taken

the unilateral step without consulting widely.

It also urged the government of Ondo State and all the 35 others nationwide to draw clear lines between criminals

and law-abiding citizens, who must equally be saved from the infiltrators.

Akeredolu, on Monday, Continued on page 8

OPS: Second Lockdown will Inhibit Economic Recovery FG alleges conspiracy against COVID-19 vaccines Olawale Ajimotokan in Abuja, Nume Ekeghe and Dike Onwuamaeze in Lagos Economic analysts and representatives of the organised private sector (OPS) have warned against a second lockdown in the country, expressing concerns about possible job losses even as the added that efforts at stimulating economic activities to facilitate an earnest recovery from recession would be hampered.

They warned that any total lockdown of the economy will lead to huge economic and social costs that the country will not be able to manage, adding that what is needed right now is a firmly articulated risk management framework on the spread of COVID-19.

This is coming as the federal government has alleged that there is a groundswell of scepticism and conspiracy theories around the COVID-19 vaccines due to arrive in the country latest by February.

The Chairman of the Presidential Task Force (PTF) on COVID-19 and Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, had on Monday warned of another lockdown if Nigerians continued to disregard non-pharmaceutical interventions (NPIs) introduced to combat the spread of COVID-19.

But the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Continued on page 8

Lawan: Armed Forces Doing Good Job of Reversing Insecurity...Page 5

Continued on page 9

WELCOME TO NIGERIA...

L-R: Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo; Minister of Foreign Affairs, Chief Geoffrey Onyema; Chief of Staff to the President, Prof. Ibrahim Gambari; and President Patrice Talon of Republic of Benin, during Talon’s visit to the Presidential Villa, Abuja…yesterday godwin omoigui

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Lawan: Armed Forces Doing Good Job of Reversing Insecurity Northern group charges Buhari to end siege by bandits, others

Deji Elumoye in Abuja and John Shiklam in Kaduna President of the Senate, Dr. Ahmad Lawan, yesterday gave the armed forces a pass mark in battling insecurity, notwithstanding the challenges facing them.

He said their efforts are paying off as the security crisis confronting the country is gradually being reversed.

He spoke on a day a northern group, under the aegis of Coalition of Northern Elders for Peace and Development, urged President Muhammadu Buhari to step up efforts to end the siege of Boko Haram, bandits and kidnappers in the region.

Lawan, while hosting a delegation from Adamawa State that came to thank the National Assembly for converting the Modibbo Adama University, Yola, into a conventional university that can run medical programmes alongside social and management sciences said recent developments showed an improvement in efforts by the armed forces in combating insecurity.

The delegation was led by Senator Aishatu Ahmed and the Vice-Chancellor of the university, Prof. Abdullahi Tukur.

Lawan, in his welcome speech, said the conversion of the university was the outcome of a collaborative effort between the legislature and the executive arms of government.

On the security and economic challenges facing Nigeria, Lawan said: “Those of us in the position of leadership today are probably more challenged than any other set of leaders. We need to pray, but we also need to act, work hard and apply ourselves fully and work with a commitment to ensure that we serve Nigerians.

“Nothing is impossible; this situation of insecurity gradually is being reversed. I am particularly happy with recent developments by our armed forces. They are doing better than they were doing before.

“I’m sure that the economy will also start to improve and we will get out of the recession that we entered last month.”

According to him, with the implementation of the capital budget 2020 up till the end of March, and the start of the implementation of the 2021 budget, the economy will receive a boost.

He also stated that the National Assembly would be judged fairly by Nigerians for its pro-people legislations in spite of the COVID-19 pandemic, which slowed down development.

Lawan lauded Buhari for assenting to the bill on the conversion of the university, describing the development as cooperative governance.

“We work with the executive to ensure that the Nigerian people benefit from democracy.

“We have set our eyes on our target of making Nigeria better and making Nigerians safer. What matters to us is what we are able to achieve at the end of the day.

“History will judge us very fairly, and without sounding immodest, I’ll like to take this opportunity to congratulate the ninth National Assembly,” he added.

He said the National Assembly has achieved so much between 2019 till date despite the pandemic.

“We have achieved unity amongst ourselves in the National Assembly environment, between the Senate and the House; and of course, we have achieved harmony in work between the National Assembly and the executive; and that’s the essence of governance, anyway.

“When we disagree, we will do so; but if we have no reason to disagree, we will not do that because we want to please anybody,” he said.

President Muhammadu Buhari has stressed the need for Benin Republic to be a good neighbour to Nigeria.

The president, while hosting his Beninoise counterpart, Mr. Patrice Talon, stressed the importance of good neighbourliness, saying "the survival of your neighbour is also your own, and viceversa."

He said: “Good neighbourliness is very important in our lives. The survival of your neighbour is also your own, and we will continue to work with our neighbours in the light of this understanding."

He recalled that on assumption of office in 2015, one of the first steps he took

the ugly security situation has been under reported.

“We are concerned over this poor media coverage by the media. The inability of the service chiefs to change the game against terrorists, bandits and kidnappers threatening the continued existence of the region despite the heavy investment made by the president so far to ensure restoration of peace, is no doubt worrisome to us.

“We believe wholeheartedly too that this development is a source of great concern to all patriotic Nigerians out there.

“From what is on ground, it would take the North-east more than 100 years to recover even if the war stops today.

“As we write this to present our plight to the public, there is no school opened to academic activities in the region, except perhaps in Maiduguri metropolis of Borno State,” it explained.

It noted that farmers can’t go to farms anymore, especially in the North-east, raising concerns of severe famine if the situation is not immediately addressed.

The statement stated that economic activities have been

disrupted as a result of the activities of terrorists, bandits and kidnappers.

“There is equally no social activities anymore in the region as people preferably stay in their various houses now to avert being prowled on by the adversaries,” it added.

The group also hailed the appointment of Brigadier Gen. Buba Marwa (rtd) as the Chairman of National Drug Law Enforcement Agency (NDLEA)

by Buhari.

“We must confess that it is the right step in the right direction because drug abuse is one of the major banes of security in the North. We know his pedigree and we are sure he would deliver on his mandate,” it said.

Bandits Kill Four, Abduct Professor in Kaduna Bandits have killed four persons and abducted Professor Aliyu Mohammed in Zaria, Kaduna State.

The Kaduna State Commissioner for Internal Security and Home Affairs, Mr.

Samuel Aruwan, confirmed the incident in a statement yesterday.

He explained that the bandits invaded the residence of the professor who also holds the title of Wazirin Wusasa in the night and kidnapped him and killed his son. His nephew, Mr. Abba Kabiru, was injured during the attack.

Two members of a local vigilante group in the Giwa Local Government Area were also killed by bandits in another attack.

He said: “Bandits on motorcycles swarmed Iyatawa village of Giwa local government area, and fortunately, groups of local vigilantes confronted the bandits and eventually forced them to disperse.

“Sadly, two of the local vigilantes, Malam Auwalu and Alassan Shehu, were killed during the encounter, as ground and air patrols were quickly mobilised to the location for a comprehensive engagement.”

The commissioner also reported another attack by bandits on commuters last Sunday on the road from Anaba village to Birnin Yero town in Igabi Local Government Area.

Northern Group Charge Buhari to End Siege by Bandits, Others A Northern group has urged President Muhammadu Buhari to step up efforts to end the siege of Boko Haram, bandits and kidnappers in the region.

It called on the president to

Be Good Neighbour, Buhari Tells Benin Republic Deji Elumoye in Abuja

device new approach in restoring peace in the troubled areas.

This is coming as bandits, suspected to be kidnappers, have killed four persons and abducted Professor Aliyu Mohammed in Zaria, Kaduna State.

The group noted that the criminal elements have grounded educational, economic and sociopolitical activities in the region.

It said it will take over 100 years to recover from the destruction, killings and trauma associated with insecurity in the region if the development was not brought under control now.

The group, Coalition of Northern Elders for Peace and Development, in a statement yesterday by its National Coordinator, Mr. Zana Goni, said it was time for Buhari to replace the nation’s security heads and try new hands to combat insecurity.

It also appealed to Buhari to restructure the country’s security architecture so as to give the war against insurgence a boost.

The statement added that the North is still under the siege from Boko Haram, banditry, kidnapping and other forms of criminality, insisting that

was to visit neighbouring countries– Chad, Niger, Cameroon and Benin– in a bid to forge a common understanding of crucial issues, including security, trade and development.

“And those are issues we must continue to engage on, for the good of our countries and the people. Whatever irritations that come up must be removed,” the president added.

Earlier, Talon had said he was in Nigeria to thank Buhari for his robust leadership in Nigeria and Africa.

Noting that the challenges of 2020 were huge, the Beninoise president stated that the same challenges may remain in 2021.

“And our relationship as neighbours must, therefore, remain cordial,” he added.

MAN-OF-THE-YEAR...

L-R: Publisher, Nigerian News Direct, Mr. Sam Ibiyemi; Lagos State Governor, Mr. Babajide Sanwo-Olu; and the newspaper’s Editor, Mr. Ayo Fadimu, during the presentation of the paper’s Man of the Year Award to the governor in Ikeja…yesterday

Poultry Farmers Warn of 5m Job Losses over Sector’s Challenges Seek Buhari, govs' support to redress situation Kemi Olaitan in Ibadan Poultry farmers under the aegis of Poultry Association of Nigeria (PAN) yesterday warned of the possible loss of over five million jobs in the sector due to the various challenges confronting them.

The association listed one of the challenges as the lingering crisis of grains, especially maize and soya beans, and sought the urgent intervention of the government to address the matter.

The South-west General Secretary of the association, Dr. Olalekan Odunsi, at a press conference in Ibadan, the Oyo State capital, urged President Muhamadu Buhari and South-west governors to save the industry from an imminent collapse.

He also called on the federal government to approve the importation of animal feed grade of maize to sustain poultry until the next harvest season.

In addition, Odunsi urged the government to enforce

a ban on export of soya beans, both seed and the processed meal.

He also appealed to the South-west governors to focus more attention on the cultivation of maize as they have done with rice.

He said: “The poultry industry in the Southwest geopolitical zone is over six decades growing consistently and steadily to a population of 30 million, a number representing more than 60 per cent of the national poultry population.

“In investment, this sector is worth over N2 trillion.

In job creation, it employs over 10 million people, directly and indirectly, using its wide value chain from farm to field. It is worthy of note that this sector is almost 100 per cent- private driven.

“However, if urgent attention is not given to the lingering crisis of grains, especially maize and soya, we fear that an industry with such enviable statistics may suffer a total collapse.”

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EAC: Nigeria Needs Macroeconomic Stability to Attract Investments FG needs new economic model for faster growth, says bank chief Obinna Chima and Goddy Egene The Chairman of President Muhammadu Buhari’s Economic Advisory Council (EAC), Dr. Doyin Salami, has stressed the need for the federal government to ensure that the country achieves macroeconomic stability to attract much-needed investments.

This is coming as the Managing Director, Chief Economist Africa and the Middle East, Global Research, Standard Chartered Bank, Ms. Razia Khan, has said that Nigeria needs a new economic model and long-term policies that should consistently focus on how to formalise the informal sectors by making other key economic activities count from the revenue perspective.

Salami spoke yesterday while delivering a keynote address at the Seventh National Economic Outlook organised by the Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with B. Adedipe Associates, held via a virtual platform.

Salami, who is of the Lagos Business School, also pointed out that policymakers in the country must strive to improve the confidence level in the economy as that the economy requires a lot of investments.

“For me, it is very clear that macroeconomic stability is first and foremost. The economy requires a massive amount of investments. And we will achieve that investment if we have macroeconomic stability.

We need a set of policies that would enable us to bring down inflation and accelerate growth.

Macro-stability is about bringing down inflation and bring growth,” he added.

According to him, external factors are also important in driving most internal responses as well as outcomes.

He identified four things within the external environment that policymakers and business operators in the country must always pay attention to.

He listed them as: What is happening to international policy, international trade, international capital movement and diaspora transfers.

“These for me are the four key things that drive the Nigerian economy from outside of our borders.

“When you look at the

international environment, the prognosis is that this will be a better year than 2020.

“The whole of 2021 will be substantially shaped by COVID-19 and the response to the virus. Yes, vaccines are now available, but the challenges of getting them out are not going to be an easy one,” he said.

He added that the oil sector will be a major element of how 2021 turns out for Nigeria, noting that despite the recovery of oil prices, OPEC quota continues to restrict the country’s production capacity.

“In the domestic economy, inflation is a major challenge at almost 16 per cent for the headline figure and just short of 20 per cent for the food inflation.

In terms of our external accounts, our external accounts have weakened considerably,” he stated.

He said beyond that, on the fiscal side, Nigeria has and continued to manage the challenges arising from inadequate revenue, stressing that those challenges have manifested in rising indebtedness and rising debt service.

“If revenues don’t come in, borrowing is typically what happens. Now, borrowing is not a Nigerian specific matter.

If you look around the world, you would see that a lot of countries had borrowed a huge amount. One of the challenges that Nigeria must respond to in 2021 is the utilisation of what is borrowed,” he added.

He also urged the government to tackle the security challenges facing the nation.

Salami said the policy direction of the incoming United States’ President, Mr. Joe Biden, who will be sworn-in today, will also be important in shaping economic direction in Nigeria.

However, he urged the Central Bank of Nigeria (CBN) to address the gap in the forex market.

He said: “How quickly and how far the closure of that gap will occur will unfold as the year goes. The third thing on the macro-stability side has got to do with the exchange rate.

“Nigeria must adopt an exchange rate policy that allows the economy to grow. Let me make it abundantly clear, this is about using exchange rate policy to grow the economy and not about devaluation. The first key challenge around exchange rate policy is around growing

confidence.”

Salami stressed the importance of passing the Petroleum Industry Bill, which he said will also boost confidence in the sector, just as he called for the sustenance of some of the reforms initiated in 2020.

In his presentation, the Chief Consultant, B. Adedipe Associates, Dr. Biodun Adedipe, noted that despite the disruption caused by the pandemic, there are still opportunities for discerning investors.

“The economy is already on the path of recovery and technically, that would be confirmed even if we have a 0.001 per cent positive growth.

But what is more important is growth this year.

“What can explain the recession that Nigeria experienced in 2016? It is not about whoever is in government today, it is about the defects in the structure of our economy which rests on five things: Our overdependence on hydrocarbons, government’s policy inconsistency and misalignment, corruption and rent-seeking, over-dependence on imports and low national productivity,” he added

FG Needs New Economic Model for Faster Growth, Says Bank MD The Managing Director, Chief Economist Africa and the Middle East, Global Research, Standard Chartered Bank, Ms. Razia Khan, has said that Nigeria needs a new economic model and long-term policies that should consistently focus on how to formalise the informal sectors by making other key economic activities count from a revenue perspective.

She also called for pay greater attention to growing revenue base and putting in place a medium to long- term plan that will show more progress yearon-year in terms of mobilising non-oil revenue.

Khan, while making a presentation at the Nigerian Stock Exchange (NSE) 2020 Market Recap/2021 Outlook programme held virtually yesterday, said this is the time for Nigeria to make more significantly structural progress, reduce its vulnerability to oil cycles and reduce its vulnerability to future oil price declines.

“Nigerian capital market will play a key role in this.

We know that as part of COVID-19 response, we have seen a real need for the Nigerian government to curtail debt service bill and therefore Nigerian bond yields are very negative in real terms when compared to inflation and we see less compelling reasons for foreign portfolio investors to come in. The inflation has surged to a much greater level that anyone will be comfortable with and this thus creates a demand for policy reforms.

"Nigeria needs to find a new economic model, the kind of foreign exchange (fx) policy that will be in place for the long haul. When will Nigeria be able to clear the backlog of accumulated(fx) demand? When will Nigeria see a working fx regime in place to attract inflows from the rest of the world to finance its investments,” she stated.

Although she projected that the Nigerian economy will grow by 2.5 per cent in 2021 and 3.1 per cent in 2022, that growth will only come with strong reforms.

Khan noted that while the nation’s capital market ought

to be the channels to fund the growth of the economy, fx volatility has made most Sub-Sahara Africa(SSA) frontier markets such as Nigeria not as investible as they were prior to COVID-19 crisis.

According to her, the real issue that will affect growth this year is the debt load and debt burden that many African countries have taken on.

She noted that some countries have initiatives like debt services suspension initiatives, insisting that the basic issue with that is that it is a deferring of a debt obligation.

According to her, it does not, in a meaningful way, reduce the amount of debt.

“Nonetheless, international financial institutions are taking a slightly different view of things and there is a global consensus now that even before applying for the debt service suspension initiative, if it is very clear that a country has a very unsustainable debt load, action should be taken at the very outset to reduce the amount of public debt to achieve some kind of debt sustainability. This is an issue that is not likely to go away anytime soon,” she explained.

SEEKING RECONCILIATION...

L-R: Ibenanaowei of Ekpetieama Clan, King Bubaraye Dakolo; Bayelsa State Governor, Senator Douye Diri; and member, Ijaw National Congress Reconciliation Committee, Justice Francis Tabai, during a meeting of the committee in Yenagoa…yesterday

Access Bank Targets Eight More African Countries in Expansion Drive Wigwe provides insights into proposed holdco Obinna Chima Access Bank Plc has unfolded plans to expand to eight more African countries as part of a strategy to support trade and finance in the continent and take advantage of the newly formed African Continental Free Trade Area (AfCFTA).

The countries are Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia.

The Group Managing Director, Access Bank, Mr. Herbert Wigwe, spoke on the plans yesterday during a presentation and investor conference call.

Presently, the tier-one bank operates in 12 countries.

According to Wigwe, across Africa, there is an opportunity for the bank to expand to highpotential markets, leveraging the benefits of AfCFTA. He said AfCFTA, among other benefits, will expand intra-Africa trade and provide real opportunities for Africa.

Wigwe said the bank would use its office in London to expand representative offices in India, Lebanon and China.

He stated that the plan is for the bank to establish its presence in 22 African countries so as to diversify its earnings and take advantage of growth opportunities in Africa.

According to him, Africa has enormous potential and

there are opportunities for an African bank that is well run, that understands compliance and has the capacity to support trade and the right technology infrastructure to support payments and remittances, without taking incremental risks.

“We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets.

“The approach would always be that in the country we wish to go to, that we have the right

skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present.

“In doing this, we are also mindful of the country we are going to so as to make sure that it is of benefit to the bank. As we do this, we are working with our friends and partners.

“We are diversifying our earnings away from volatile markets as well and we are orchestrating our operations from the global payments gateway and ensuring that using Access Bank UK, providing corresponding services from digital platforms,

the overall profitability of our franchise,” he explained.

Commenting further, on AfCFTA, he said the bank would use its digital framework to benefit from the deal.

“Coming to Nigeria, we think we need to continue to entrench ourselves in the local market because there is still so much work to be done.

“So, we are doing everything possible to satisfy our customers and also to ensure that our channels are adequately secured.

We are also ensuring that our staff are very efficient,” the CEO said.

Wigwe provided insights into the bank’s recently approved holding company (holdco) structure.

According to him, the holdco will consist of four subsidiaries: Access Bank Group; payments business; consumer lending and agency banking; and insurance brokerage.

Access Bank Group will consist of Nigeria, Africa and international subsidiaries, while the payments subsidiary will leverage the strong suite of the bank’s assets, Wigwe said.

“The consumer lending business has seen 60 per cent growth in digital lending volume and value. The insurance subsidiary will adopt a dynamic and creative approach to deliver value-added services focused to meet customer insurance needs,” he added.

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FCMB Founder, Balogun, Gifts UI N5bn Pediatrics Hospital Segun James The founder of FCMB Group, Chief Olasubomi Balogun, has donated his Otunba Tunwase National Pediatrics Centre (OTNPC) in Ijebu Ode to the University of Ibadan as part of his commitment towards ensuring better health for Nigerians, especially children.

Built at a cost of over N5billion, the centre will be managed by the University College Hospital (UCH), Ibadan and it is expected to help improve health care delivery for children in Ijebu Ode and other parts of the country.

At the ceremony, the Group Chief Executive and Chairman of Board, Otunba Tunwase Foundation, Mr. Ladi Balogun, who represented his father, described the facility as a gift to UCH and the university.

Balogun said the handover is a follow-up to the signing

of a tripartite Memorandum of Understanding (MoU) that involved the Otunba Tunwase Foundation, the University of Ibadan and University College Hospital on October 2020 in Lagos.

The gesture, he noted, marks a significant milestone in a philanthropic project embarked upon 11 years ago, with the sole objective of providing a world-class medical facility to Nigerians, especially children, by an individual who consistently craves for the social and economic development of his fatherland.

He stated that at the end of its construction, some institutions requested to manage the hospital.

He, however, noted that his father believes that the university and UCH are in a better position to do that effectively, considering their respective pedigrees.

He expressed optimism that with the partnership, the institution will contribute to the general wellbeing of Nigerians and serve as a symbol of possibilities for all those who look to achieve greatness and give back to their fatherland.

"Following the signing of the MoU last year by all the concerned parties, the resolution is that while the University College Hospital (UCH) has been mandated to provide clinical services, the University of Ibadan (UI) will engage in research and other academic works, while students from UI would also be involved as part of the training," he said.

Balogun added that the resolution was that while the UCH has been mandated to provide clinical services, the university will engage in research and other academic works while students from

UI would also be involved as part of the training.

“Otunba Olasubomi Balogun is a well-known statesman, entrepreneur and philanthropist with several charitable projects and programmes for the people of his hometown of Ijebu-Ode, as well as other parts of Nigeria. His philanthropy ranges from the provision of this world-class medical facility to education, capacity building, youth empowerment and other socio-economic initiatives, aimed at enhancing the development of humanity and society in general," he said.

According to him, Balogun was first inspired to build the facility when he took over the children’s hospital at the UCH Ibadan, where he was exposed to the plight of sick children and the high demand for world-class medical facility

to cater for their needs in a sustainable manner.

He added that the facility, credited as a prototype of the Ormond Street Childrens' Hospital in London, United Kingdom, will boost healthcare delivery in Ijebu Ode. He also called on well- meaning Nigerians to support the government in the area of health delivery for the people.

"At the end of its construction, some institutions requested to manage this hospital, but Otunba Balogun strongly believes that the University of Ibadan and University College Hospital are in a better position to do that, effectively and further raise its status, considering their respective pedigrees. It is our hope that this institution would contribute immensely to the general well-being of all Nigerians and serve as a symbol of great possibilities

for all those who look to achieve greatness and give back to their fatherland," he said.

The Chief Medical Director, University College Hospital, lbadan, Prof. Jesse Abiodun Otegbayo, appreciated Balogun for establishing the facility in Ijebu Ode and for donating it to UCH to enhance quality healthcare delivery to the people.

He pledged that the institution will sustain the high-level healthcare services being provided at the main hospital in Ibadan.

In a remark, the Acting Vice Chancellor, University of Ibadan, Prof. Adebola Ekanola, represented by the Provost, College of Medicine, University of Ibadan, Prof.

Olayinka Omigbodun, assured the gathering that the facility will be transformed into the best paediatrics hospital in the Sub-Saharan Africa.

lockdown will cripple the economy of the nation even more as there is no stimulus assistance programme put in place by the government for the people. So, more jobs will be lost, businesses will shut down, schools will not be in session, depression will be at its peak.

“Additionally, productivity will remain well below prerecession levels in all facets of the economy. We are also concerned that a lockdown may not only be ineffective as it may be difficult to enforce but will also punctuate the expected economic recovery.”

He added that the COVID-19

pandemic destroyed the lives of thousands of people as a result of its economic impact, especially the toll the initial lockdown had taken on the economy.

An economist and Associate Professor at the Lagos Business

who believe the oil and gas industries should not be part of the energy future, that they should be consigned to the past, and that the future is one that can be dominated by renewables and electric vehicles, it is important to state clearly that the science does not tell us this.

“And the statistics related to the blight of energy poverty do not tell us this either.

The science and statistics tell us that we need to reduce emissions and use energy more efficiently,” he added.

According to him, renewables are coming of age, with wind and solar expanding quickly, but even by 2045, they are only estimated to make up just over 20 per cent of the global energy mix.

He explained that oil and

gas combined are forecast to still supply over 50 per cent of the world’s energy needs by 2045, with oil at around 27 per cent and gas at 25 per cent.

“We appreciate that some will view this as an OPEC forecast, dispute the numbers, and state that the organisation is against renewables.

“In response, it is clear that many OPEC member countries have great solar and wind resources, and huge investments are being made in this field. OPEC welcomes the development of renewables," he said.

Barkindo stated that globally, the oil and gas market would require over $12 trillion investment between now and 2045, warning that there might be further energy shortfall without the investment.

interchange of arguments to hinder law enforcement efforts as the only way to deal effectively with them.”

The statement said the president, who swore to defend the constitution, has spoken against the Indigenous People of Biafra (IPOB) in asking citizens of Northern origin to leave.

It added that the president did not spare the group based in Sokoto, ‘Muslim Solidarity Forum,’ which asked the Bishop of Sokoto Catholic Diocese, Bishop Matthew Hassan Kukah, to leave, adding also that the president is prepared to do all that the law permits to protect citizens all over the country in their choice of where they wish to reside and are treated as equal citizens.

"The government of Ondo and all the 35 others across the federation must draw clear lines between the criminals and the law-abiding citizens who must equally be saved from the infiltrators.

Beyond law and order, the fight against crime is also a fight for human values, which are fundamental to our country," it added.

OPS: SECOND LOCKDOWN WILL INHIBIT ECONOMIC RECOVERY Ambassador Ayo Olukanni, told THISDAY that the implications of a second lockdown would be too grave for the economy.

He stated that prospects for economic recovery are high while a lockdown will slow down the recovery.

“It should be avoided by all

means. Government and the citizens should be mobilised for full and effective use of the various guidelines on COVID-19 protocols,” he said.

Similarly, the DirectorGeneral of the Nigeria Employers’ Consultative Association (NECA), Mr. Timothy Olawale, said

another lockdown would lower productivity in the economy and deepen the recession.

Olawale also expressed concern that the fragile economy might be unable to withstand the effects of another nationwide lockdown.

He said: “A second

Continued on page 9

IEA CUTS OIL DEMAND FORECAST AS NEW LOCKDOWNS TEMPER RECOVERY a barrel in London yesterday, close to their highest in almost a year.

The gains have slowed though as a flare-up in virus cases prompts the return of lockdowns in many countries, including China, which has driven the recovery in fuel demand up until now.

For 2021 as a whole, the Paris-based IEA trimmed its demand forecast by 300,000 barrels a day. Global fuel consumption will increase by 5.5 million barrels a day this year, following an unprecedented collapse of 8.8 million a day in 2020.

The fragile outlook prompted the Organisation of Petroleum Exporting Countries (OPEC) and its partners at a meeting earlier this month to delay plans to restore halted

output.

Saudi Arabia, which effectively leads the group, bolstered the strategy by promising to cut an additional one million barrels a day in February and March.

As the year progresses and the demand recovery gathers pace, the OPEC+ alliance should have the opportunity to open the taps a little, according to the IEA. “Much more oil is likely to be required, given our forecast for a substantial improvement in demand in the second half of the year,” it said.

With global inventories on track for steeper declines in the second half, OPEC+ can proceed with plans to revive about 1.5 million of the 7.2 million currently offline, the agency said.

But it is expected that as the implementation of the vaccines increases, the pool of the virus-immune population, business activity will resume creating demand for refined petroleum products.

Barkindo: Renewables Not Replacing Fossil Fuels in Coming Decades Meanwhile, OPEC SecretaryGeneral, Dr. Sanusi Barkindo, yesterday said there was no scientific proof that renewable sources of energy would overtake the use of fossil fuels in future.

Speaking at the Atlantic Council Global Energy Forum 2021, themed: “The Geopolitics

of the Energy Transformation,” he stated that though renewable sources of energy will continue to develop, oil and gas will remain relevant, occupying over 50 per cent of the energy mix by 2045.

He noted that with the world’s population projected to grow by 1.7 billion over the next two-and-a-half decades and the world economy more than doubling, oil and gas will remain relevant.

Highlighting the continued role of oil and gas in the global economy and its role in the energy transition, Barkindo said though OPEC was not opposed to the growth of renewable energy, all the talk about oil and gas suddenly becoming useless was not founded on facts.

“Although, there are some

QUIT NOTICE TO HERDERS UNCONSTITUTIONAL, PRESIDENCY CAUTIONS AKEREDOLU had ordered the herdsmen to vacate all government forest reserves in the state within seven days.

The governor gave the order during an interactive meeting in Akure with the leadership of the Hausa/Fulani and Ebira communities.

He had said security reports and debriefings from victims of kidnap cases pointed in one direction traceable to some bad elements masquerading as herdsmen.

“We have cases of several attacks on our people by these mindless elements. You will recall the gruesome murder of one of the members of the Ondo State Traditional Council who was caught in the web of the devious plans of these workers of evil on his way back to his domain.

“While we were still grieving, other kidnap attempts were made on the lives of road users across the state, especially along our

boundaries and hinterland,” he had said.

Besides issuing the quit order, the governor had also banned night grazing in the state and the movement of cattle within cities and highways, while also outlawing under-aged grazing of cattle.

Akeredolu decried the activities of the criminal elements, adding that they have turned forest reserves in the state and across the South-west into hideouts for keeping victims of kidnapping, negotiating for ransom and carrying out other criminal activities.

However, the presidency, in a reprimand of the governor's action, called for caution, asking both the state government and the herders to dialogue with a view to addressing the security challenges facing the state.

The statement, entitled: "In tackling crime, Ondo State will not act outside the constitution," noted that although Akeredolu with his

pedigree in the first four years as governor fought crime with passion, he could not have asked the herders to leave the state in a jiffy.

It said: "Governor Rotimi Akeredolu, a seasoned lawyer, Senior Advocate of Nigeria and indeed, a former president of the Nigerian Bar Association (NBA), has fought crime in his state with passion and commitment, greater sensitivity and compassion for the four years he has run its affairs and, in our view, will be the least expected to unilaterally oust thousands of herders who have lived all their lives in the state on account of the infiltration of the forests by criminals.

"If this were to be the case, rights groups will be right in expressing worries that the action could set off a chain of events which the makers of our constitution foresaw and tried to guard against."

The statement added that what is emerging is a lack

of consistency in messaging which in turn leads to various contradictions regarding the accuracy and the intent behind the message.

The statement called for restraint on both sides and urged the state government and the leadership of the Fulani communities to continue their dialogue for a good understanding that will bring to an urgent end, the security challenges facing the state.

It said: "We want to make it clear that kidnapping, banditry and rustling are crimes, no matter the motive or who is involved. But to define crime from the nameplates, as a number of commentators have erroneously done- which group they belong to, the language they speak, their geographical location or their faith is atavistic and cruel.

"We need to delink terrorism and crimes from ethnicity, geographical origins and religion—to isolate the criminals who use this

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WEDNESDAY, ͺ͸˜ ͺ͸ͺ͹ ˾ T H I S D AY

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NEWS

Despite Headwinds, FIRS Generates N4.95tn in 2020, Says Nami James Emejo in Abuja The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday put the total tax revenues generated by the organisation last year at N4.95 trillion.

This represents about 98 per cent of the N5.07 trillion target for the period.

Nami noted that the near 100 per cent collection was particularly remarkable,

considering the debilitating effects of COVID-19 on the economy, the all-time low price of crude oil in the international market and business disruptions and looting during the recent #EndSARS protests.

Nami, in a statement yesterday by the Director of Communications and Liaison, FIRS, Dr. Abdullahi Ahmad, however, explained that oil revenue, which used to contribute over 50 per cent

in tax returns through the Petroleum Profits Tax (PPT) in previous years, accounted for only 30.6 per cent of tax revenue in the period under review.

Non-oil tax collection also peaked at 109 per cent in 2020, which is about 9 per cent higher than the previous year.

Nami attributed the feat to reforms initiated by the FIRS, particularly in the areas of capacity building

for members of the staff, improved staff welfare package, promotion and proper placement of staff, deployment of appropriate technology for tax operations, segmentation of taxpayers to ease tax compliance and continuous collaboration with stakeholders, among others.

He commended those he described as conscientious taxpayers and dedicated FIRS staff for their support and devotion to

work, which made the performance possible despite the numerous obstacles encountered in 2020.

“The FIRS is optimistic this current fiscal year, 2021, will be better than in 2020. We shall perform exceedingly well given that our service reforms are expected to yield greater dividends, especially as different parts of tax administration are being automated.

"We are also optimistic

that exploration activities will improve in the oil sector and increase the prospect of higher tax revenue from the sector.

"Similarly, the ongoing reforms by the service together with increased stakeholder collaborations will brighten the prospect of improved voluntary compliance and consequently higher tax revenue generation for the country this year and beyond,” he said.

FG: 47.8m Subscribers Submit NINs to Telcos

Emma Okonji

As the January 19, 2021 deadline given by the federal government for the submission of subscribers’ National Identification Number (NIN) expired yesterday, telecoms operators have received a total of 47.8 million NINs from subscribers, even as submission of NINs has continued, the federal government has said.

The number of active telecoms subscribers across networks has reached over 204 million, with MTN leading with 75 million subscribers.

They are all expected to register, obtain NIN, and submit their NINs for integration with their SIM cards.

The federal government has also warned Nigerians against selling their SIM cards that are already linked with the NINs, disclosing that crimes committed with any SIM card would be traced for appropriate action.

It also expressed hopes that more NINs would be collected before the February 9, 2021 deadline.

The Minister of Communications and Digital

Economy, Dr. Isa Pantami, reminded Nigerians to secure and protect their NINs, urging subscribers to desist from selling their NINs or allowing others to use their NINs for registration.

Pantami gave the warning in a statement issued in Abuja by the Director Public, Affairs, Nigerian Communications Commission (NCC), Dr. Ikechukwu Adinde.

“For any action committed with the SIM good or bad it will be officially traced and attached to the NIN owner,” the minister warned.

The statement further

stated that at the end of a review meeting on January 18, 2021, the Technical Implementation Committee under the Ministerial Task Force reported significant progress in the ongoing NIN-SIM linkage exercise.

“So far a total of 47.8 million NINs have been collected by the mobile operators.

At an average of three to four SIMs per subscriber, this means many millions will be linked up before the deadline in February 2021,” the NCC stated.

The federal government had declared that after

December 30, 2020, all SIMs that were not registered with valid NINs on the network of telecommunications companies would be blocked.

However, it later extended the December 30, 2020 deadline and gave three weeks extension for subscribers with NIN from December 30, 2020, to January 19, 2021.

It also gave six weeks extension for subscribers without NIN from December 30, 2020, to February 9, 2021.

However, the minister yesterday expressed satisfaction with the

commendable achievement.

He also expressed the federal government’s appreciation for the commitment demonstrated by all stakeholders and citizens and urged them to submit their NINs before February 9, 2021 deadline.

Pantami urged the technical team to fast-track the processes so that the project would be delivered very quickly.

With the level of compliance so far, NCC is of the view that NIN submission will continue after the initial deadline of January 19, 2021.

Nigeria’s Cooking Gas Consumption Hits 1m Metric Tonnes Emmanuel Addeh in Abuja Nigeria’s Domestic Liquefied Petroleum Gas (LPG) consumption hit a record 1 million metric tonnes in 2020, the Petroleum Products Pricing Regulatory Agency (PPPRA), announced yesterday.

The new figures, according to the agency, was a remarkable

improvement on the domestic gas utilisation of 840, 594.37 metric tonnes in 2019 and 635, 452 metric tonnes recorded in 2018.

Executive Director, PPPRA, Mr. Abdulkadir Saidu, who made the disclosure in a statement in Abuja, noted that the target of the federal government and other

stakeholders to achieve five million metric tonnes of consumption by 2022 was still on course.

THISDAY, however learnt that despite the “feat”, much of the cooking gas were imported, in spite of the huge proven gas reserves in the country estimated at over 200 trillion cubic feet.

In 2019, while 45 per cent of the imports was from the United States of America (USA), 3.95 per cent was from Argentina and 8.99 per cent was from Equatorial Guinea.

Other countries from which Nigeria got the product were Algeria, 0.88; Trinidad and Tobago, 1.67; India, 0.50; Spain, 0.74, while the country could

only source for 37.42 per cent of cooking gas within the country.

The PPPRA had listed some of the challenges of the LPG domestic market to include inefficient distribution chain, pricing distortion occasioned by high LPG price, limited jetties, limited depot storage, inadequate and under-supplied LPG terminals, unsafe cylinder

population, among others.

The agency also listed availability, affordability, acceptability as well as accessibility as some of the barriers to LPG adoption.

Records also showed that in 2020, over 71 per cent was brought in from outside the shores of the country in the month of August 2020 alone.

mitigate the spread.

“I doubt if we have the needed arrangements support for the populace or the socalled palliatives in the event of a complete lockdown. And I believe the government should be doing all in its power to avoid it. I hope we succeed at it”.

He said MAN is committed to ensuring strict compliance by its personnel and in its businesses.

“We are even raising the standards and putting in more measures to ensure full and complete compliance,” he added.

an aggressive community engagement and consultation to educate the grassroots and also share the right information about the vaccines.

Shuaib stated that in spite of the scepticism in some quarters, the government is focused on protecting and inoculating Nigerians.

“We are mindful that we have a lot of work to overcome vaccine hesitancy that we are already seeing the misinformation, the conspiracy theories around the COVID-19 vaccines and we do not take for granted that all Nigerians understand the principles around vaccines production.

"We have to do the hard work. It is not enough to offer the vaccine to Nigerians; we have to do the hard work of sharing information and educating Nigerians about the vaccines; how they are produced, the fact that they are safe and all of the measures,” he explained.

He noted that all those concerns that were being raised are not just out of mischief.

According to him, the agency is going to be working with traditional leaders to educate them and as the gatekeepers of the communities, they understand

how to communicate.

“We are reaching out to religious, community-based organisations, even political leaders because they are the representatives of the people," he stated.

While debunking the concern that the NPHCDA lacks the storage capacity for the vaccines, he acknowledged that administering the vaccines on Nigerians would be a herculean task.

He said the country has the capacity to store up to 400,000 doses of the expected COVID-19 vaccines.

Shuaib assured Nigerians that the 100,000 doses of the expected Pfizer vaccines will not be administered on any Nigerian without the certification from National Agency for Food and Drugs Administration and Control (NAFDAC).

"No vaccines will be administered to any Nigerian without NAFDAC certifying it. I want to reiterate that the responsibility of making that decision to vaccinate Nigerians is of the government. It is a sacred trust that we do not take for granted. We are going to be doing it very diligently,” Shuaib said.

He also spoke on plans to start local production of COVID-19 vaccines.

OPS: SECOND LOCKDOWN WILL INHIBIT ECONOMIC RECOVERY School, Dr. Bongo Adi, said the implications of a second lockdown would be dire.

“Unfortunately, we are between the devil and the deep blue sea and however we look at it, it is a very difficult one for us right now because people are dying.

“Given the situation of the economy right now, we cannot afford another lockdown. This is an economy that is still seating on the edge. Recession is there, production output is low, unemployment is very high and beyond all these, we have an inflation that is running out of place,” he said.

He warned that if a new lockdown is imposed, it will have a drastic implication on the economy.

According to him, people will suffer and die while COVID-19, on the other hand, will also be killing people.

The Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, also highlighted the implications of another lockdown, which he said would overwhelm the country’s capacity to manage its huge social and economic consequences given the prevailing economic and social conditions threatening businesses.

He said Nigeria’s economy

comprises more than 50 per cent informal businesses that depend on daily earnings in contrast to advanced countries where a larger proportion of their citizens are salaried workers.

“I think that what is important is to look at the whole system and come up with a risk management framework that targets specific activities in the society that poses a high level of risk in respect of the spread of COVID-19 pandemic disease like wedding ceremonies, parties and funerals among others.

"A very good risk management framework is what we need rather than a complete lockdown that is likely to achieve nothing.

We have done it in the past and I did not think that we achieved much,” he explained.

Head of Research, United Capital, Mr. Wale Olusi, stated that the country cannot afford another lockdown.

“The impact is going to be much more grievous than the virus itself in terms of loss of life and economic deprivation.

A lot of people depend on daily economic activities to put food on their table. If you lock them down and you don’t pay them, people would start fuming again.

“The last time there was social unrest all over the place and people are going to be worse than the previous lockdown. Yes COVID-19 is real; yes, the numbers are going up, but I am not sure the best way to handle it is another lockdown.

“What we need to do is lock down people who are old and people who have underlining diseases,” he said.

He added that a second lockdown will impact inflation, lead to more job losses and also, ground economic activities.

The Director-General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, said a second lockdown will portend a serious negative implications for the national economy in general and the manufacturing sector in particular.

Ajayi-Kadir stated that inasmuch as he understood the concern of the PTF, the impact of the lockdown, both on the nation's economy and the people, should better be avoided.

He said: “The strategic choice is to do all in our powers to avoid the looming outbreak. The government should scrupulously enforce the observance of the health and social protocols to

FG Alleges Conspiracy Theories against COVID-19 Vaccines Meanwhile, the federal government has alleged that there is a groundswell of scepticism and conspiracy theories around the COVID-19 vaccines due to arrive in the country latest by February.

The Executive Director of National Primary Healthcare Development Agency (NPHCDA), Dr. Faisal Shuaib, said yesterday in Abuja when he led journalists on a tour of the agency's National Strategic Cold Chain Store that the agency has begun

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WEDNESDAY JANUARY 20, 2021 ˾ T H I S D AY

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Three Confirmed Dead, Four Others Injured in Ogun Petrol Tanker Explosion Abiodun bans articulated vehicles from overhead bridges Kayode Fasua in Abeokuta

hospital in Abeokuta, and were being treated on government bill.

Also, the Director of the State Emergency Management Agency (SEMA), Mr. Ige Olufolarin, who spoke with journalists at the scene of the inferno, confirmed the number of causalities, stressing that the accident was as a result of brake failure on the part of the petrol tanker.

The state Director of Fire Services, Mr. Fatai Adefola, told THISDAY that his men came early enough to extinguish the fire, adding that a total number of six cars and six motorcycles were burnt alongside the petroleum tanker in the inferno.

Meanwhile, the state governor has ordered a complete restriction of movements of articulated vehicles from all overhead bridges across the state.

Abiodun gave the order when he made an on-the-spot assessment of the scene of the fire incident with the purpose of ascertaining the cause and ways of preventing a recurrence.

Describing the incident as a sad day for him, a visibly angry governor lamented what he described as avoidable deaths, which he said was coming within the first three weeks of the new year.

Abiodun explained that banning articulated vehicles

from plying overhead bridges in Ogun corridors remained

Gunmen Kidnap Lagos Anchor Varsity DVC in Nasarawa

The federal government yesterday said about 24.3 million poor Nigerians would get N5,000 each for a period of six months.

This is coming as Vice President Yemi Osinbajo has said that at least 20 million Nigerians will be lifted out of poverty by the federal government within the next two years.

Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, disclosed the planned payment of N5,000 at the inauguration of the federal government’s emergency intervention

At least three persons have been confirmed dead while four others sustained varying degrees of injuries following the tanker explosion that occurred at the presidential boulevard in the Kuto axis of Abeokuta, Ogun State, yesterday.

Following the incident, the state Governor, Prince Dapo Abiodun, has therefore ordered a complete restriction of movement of heavy duty vehicles from all overhead bridges across the state.

The incident reportedly occurred at about 8.15 a.m., when the 33,000 litre tanker had brake failure while descending the Kuto overhead bridge.

Six cars and six motorcycles were also burnt in the fuel tanker fire.

The situation led to confusion as the incident happened near a private school and a bank with parents rushing to get their children from the school.

Men of the Federal and Ogun State Fire Services were at the scene of the incident to bring the raging fire under control, while motorists were advised to ply alternative routes.

The state Commissioner for Special Duties, Mr. Femi Ogunbanwo, who was at the scene of the incident, said the injured persons had been taken to the state

Igbawase Ukumba in Lafia Gunmen last Monday night abducted the Deputy Vice Chancellor (DVC) of Anchor University Lagos, Professor Fatokun Johnson, in Nasarawa State.

Johnson was the dean of the Faculty of Science and Education as well as the head of Department of Mathematical Science and ICT at the Federal University, Dutsin-Ma in Katsina State.

The Nasarawa State Police Command confirmed that gunmen suspected to be kidnappers attacked the university don and kidnapped him at gunpoint to an unknown destination.

The state police command confirmed the incident in a statement signed by the state Police Public Relations Officer (PPRO), ASP Ramhan Nansel.

According to Nansel, “Upon receipt of the information, the state Commissioner of Police, Bola Longe, mobilised a search-andrescue team comprising the Police Mobile Force, anti-kidnapping team, the military, police patrol teams, local vigilante and hunters to the area to rescue the abducted victim and arrest the perpetrators of the dastardly act.”

However, a survivor from the kidnap, who spoke to journalists, narrated that the professor of mathematical science was last Monday abducted by unknown gunmen on Akwanga-Keffi highway.

He said the professor, who was driving from Jos towards Keffi in Nasarawa State at about 9:00p.m. last Monday was ambushed by some group of armed men.

The source said: “As we were approaching Garaku in Kokona Local Government Area, some people started shooting sporadically behind us. The professor, who was driving, decided to increase his speed only to meet another group who were also shot at us. So we had no other option than to stop the vehicle.

“When we stopped, they ordered us into the bush and started speaking Hausa dialect, and when I told them that I don’t understand Hausa language, one of the abductors cocked the gun and would have shot me but ran out of bullet The survivor narrated further that when the abductor discovered that he had no bullet, he brought out a knife and wanted to stab him, but he narrowly escaped and hid in a drainage system.

He said while the gunmen advanced in search of him, some soldiers came and engaged the criminals in a gun battle, and the armed men fled into the bush with the professor.

The survivor said some of the abductors wore police uniforms and were fully armed.

He also stated that he had made a statement at the Garaku police station where the professor’s car riddled with bullet holes was parked.

the best solution, pending when his administration would evolve

a “comprehensive and well thought-out guidelines on how

petroleum tankers should operate in the state.”

SCHOOLS’ SAFETY ON THEIR MINDS...

L-R: Minister of State for Education, Mr. Chukeuemeka Nwajiuba; Minister of Environment, Dr. Mahammad Mahmood Abubakar; and Minister of Education, Malam Adamu Adamu, during an inter-ministerial meeting between the two ministries on the safe resumption of schools in Abuja ...yesterday

FG to Pay 24m Poor Nigerians N5,000 Each To lift 20m out of poverty Deji Elumoye in Abuja

database for the urban poor.

A statement issued in Abuja yesterday by her aide, Ms Nneka Anibeze, said the intervention would serve as cushion for those further impoverished by the COVID-19 pandemic.

The statement read in part, “According to records, about 24.3 million poor and vulnerable individuals were identified at the end of 2020 and registered into the National Social Register.

“Each beneficiary will receive N5,000 for a period of six months.”

Farouq said the intervention database was needed to develop the capacity for rapid response to

any emergency including natural or man-made disasters.

The minister said the Rapid Response Register was designed to rapidly identify, register and provide succour to people who were not previously captured in the social register.

Speaking on the RRR, the Vice President, Prof. Yemi Osinbajo, said the register deployed a wholly technology-based approach, adding that it was primed to achieve an end-to-end digital foot-print in cash transfers for the urban poor.

This, he said, would also help the government to achieve its financial inclusion policy under

the Enhancing Financial Innovation and Access programme.

He said, “The groundbreaking success of the RRR now emboldens us to achieve our aspiration of a social security programme for a minimum of 20 million Nigerians in the next two years. This will be the largest of its kind on the continent.”

Osinbajo also hinted that the federal government would seek funding for the intervention programmes as the country deserved a social security scheme that would not only alleviate poverty but also create wealth for millions of those waiting for the opportunity.

Police Blame Drugs Overdose for Yobe Girl’s Death after Marathon Sex Michael Olugbode in Damaturu The police in Yobe State has declared that the girl who died after sex bout at the state government lodge was as a result of drug overdose.

The police in a statement issued yesterday by the state Police Public Relations Officer (PPRO), Dungus AbdulKareem, said the case against the four suspects arrested in connection with the crime was

no longer homicide.

AbdulKareem said the deceased died of cardio-respiratory failure resulting from excessive use of drugs.

The statement read: “On January 7, 2021, at about 0700hrs, the Yobe State Police Command apprehended four suspects in connection with the death of Balkisu Ali (female), who died at the state government lodge in Damaturu. The case has been

under investigation at the state CID in Damaturu.

“An autopsy was conducted on the corpse at the University Teaching Hospital, Damaturu, to unravel the actual cause of death.

In this regard, the post-mortem examination has revealed that the Balkisu Ali died of cardiorespiratory failure resulting from excessive use of drugs (or drug overdose).

“With the conclusion of

investigation, the suspects will soon be arraigned for charges other than homicide, including criminal conspiracy, procurement and adultery.”

The statement, however, advised that the member of the public should desist from peddling unfounded rumours that could be detrimental to the interest of the deceased family and general security in the state.

Wife Stabs Husband’s Alleged Mistress to Death in Kano Ibrahim Shuaibu in Kano Kano State Police Command has arrested a 20-year-old woman, Suwaiba Shuaibu, of Gimawa village in Doguwa Local Government Area of the state for allegedly killing a proposed second wife of her husband.

The spokesman for the state police command, Mr. Abdullahi Haruna, disclosed that the suspect confessed that she had called the victim on the phone and lured

her to an uncompleted building in their neighborhood where she used a sharp knife to stab her on the neck, chest and other parts of her body.

Haruna, a Deputy Superintendent of Police (DSP), told journalists in Kano that the suspect also told the police that she killed the victim out of jealousy-because her husband planned to marry her.

According to him, the police investigation revealed that the

deceased and the husband of the suspect have been in a relationship for over six years and their wedding ceremony was scheduled to hold on January 9, 2021.

Haruna recalled that on January 2, 2021, one Kabiru Jafaru of Gimawa village, Doguwa LGA reported that the body of his 17-year-old daughter, Aisha Kabir, who got missing on January 1, was found in an uncompleted building in their neighborhood.

The complainant said the victim was suspected to have been stabbed on the neck by her killer.

“Upon receiving the complaint, the scene was visited and the body was evacuated to Tudun Wada General Hospital for examination by a medical doctor.

“The state Commissioner of Police, Mr. Habu A. Sani, further raised and instructed a team of detectives led by the Divisional Police Officer of Doguwa, CSP Bala Shuaibu, to arrest the culprit.

WEDNESDAY JANUARY 20, 2021 ˾ T H I S D AY

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NEWS

INEC Fixes Anambra Election for November 6 Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) yesterday released the guidelines for the

Anambra State governorship elections, declaring that the election will hold on November 6 this year.

The commission also released the timetable and schedule of

NDDC Sole Administrator Not an Imposition, Insists Akwa Ibom Community Chuks Okocha in Abuja The host community of the Sole Administrator of the Niger Delta Development Commission (NDDC), Effiong Akwa, Oron in Akwa Ibom State, has risen to the defence of Akwa’s appointment, warning that violence should not be seen as a monopoly of any community in the Niger Delta area.

They also disclaimed the allegation that Akwa was imposed by the Minister of Niger Delta Affairs, Senator Godswill Akpabio, describing it as false.

Addressing a press conference yesterday in Abuja, the President of Oron Union, Remigius Edebianga, and the General Secretary of the union, Asukwo Unuyu, said the NDDC sole administrator was first appointed by President Muhammadu Buhari in October 2020 to fill the position of the Executive Director, Finance and Administration, which was vacant following the death of the EDFA, Mr. Ibanga Etang, in the recently dissolved Interim Management Committee (IMC) of the commission.

According the Oron Union, “The president’s appointment of Efiong Akwa as the sole administrator of the NDDC followed a High Court judgment, which declared

Professor Keme Pondei-led IMC of the NDDC illegal.

“Since Akwa was not joined in the suit, it therefore became expedient for the president to elevate him to that position to engender continuity and stability in the management of the NDDC. It is therefore a figment of imagination and insults to the person of the president for anybody to think that Akpabio was now the one dictating and tele-guiding him.”

They further declared as false the allegation that the NDDC sole administrator is not from an oil-producing community in the Niger Delta as provided in the NDDC Act, stating that it is infantile and farther from the truth.

The Oron Union said: “The true position is that Akwa is from Oron, a major oil-producing community in Akwa Ibom State in the Niger Delta region.”

The people of Oron community said they are the biggest oil community in the Niger Delta, producing more than 30 percent of the oil in the region.

They stated that in the Department of Petroleum Resources (DPR) data “it is clear that Oron community is an oil-producing community per se. In terms of crude oil output, factual records show that Akwa Ibom State accounts for over 40 percent of the total crude oil output in the Niger Delta region with over 80 percent of that from Oron, where Akwa hails from.

activities for the conduct of the governorship election.

According to a statement by the INEC’s National Commissioner in charge of Voter Education and Publicity, Mr. Festus Okoye, the electoral body said that the guidelines and schedule of activities is in line with the virtue of Section 178(1) & (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Section 25(7) & (8) of the Electoral Act, 2010 (as amended).

He said that by the constitutional provisions, the election into the office of a state governor shall hold not earlier than 150 days and not later than

30 days before the expiration of the term of office of the last holder of the office.

Okoye stated that constitutionally “the tenure of the Governor of Anambra State will expire on the March 17, 2022 and the earliest date for the election into the office of Governor, Anambra State, shall be October 18, 2021 and the latest date for the election shall be February 15, 2022.”

“In the exercise of the powers conferred on it by the Constitution, the Electoral Act and all other powers enabling it in that regard, the commission has fixed 6th November 2021 as the date for the conduct of the Anambra

State governorship election.

“Consequently, the commission hereby issues the Timetable and Schedule of Activities for the election,” Okoye explained.

Okoye said that the commission will issue the statutory notice for election on June 9, 2021, adding that the Collection of Forms EC9 (formerly CF001) and EC9B (formerly CF002) for the election will take place on June 10, 2021 and the conduct of party primaries and resolution of disputes arising from the primaries will take place on June 10 to July 1, 2021.

“The personal particulars of the candidates will be published on July 16, 2021 and the parties will commence campaigns on August

8, 2021. The final list of nominated candidates will be published on October 7, 2021.

“The commission enjoins all the registered political parties to pay close attention to the timelines and schedule of activities outlined in the timetable and schedule of activities as they are constitutional and statutorily provisions,” Okoye stated.

INEC enjoined all political parties to conduct rancourfree primaries, guarantee level-playing field for all aspirants and conduct necessary due diligence on all forms and documents that will be submitted to the commission.

Court Orders Service of N250m Suit against Obasanjo’s Former Aide Alex Enumah in Abuja Justice Ijeoma Ojukwu of a Federal High Court in Abuja yesterday ordered the service of a

N250million damage suit against Professor Anthony Adegbulugbe.

Adegbulugbe, who was an the energy adviser in the President Olusegun Obasanjo administration

Paul Obi Foundation Awards Scholarships to Imo Communities The Sir Paul Obi Foundation, a non-partisan and non-profit making body floated by the Company Secretary of NIPCO Plc, Mr. Paul Obi has marked its third year of inauguration with offers of scholarships and social intervention grants to indigent people in the society At the recent event held at the Foundation complex in Ogberuru, Orlu LGA, Imo State, Obi said activities marking the commemoration of the outfit’s third anniversary were three-fold, primarily at touching the lives of people with bias for their empowerment.

He told the cheery crowd at

the programme that the first of the interventions was the offer of 135 bags of 25kg rice to support household in the town to cushion the effect of COVID -19 pandemic during the lockdown.

According to him, the donation, which was targeted at offering succor to the people as well as ameliorating their socio – economic conditions, was an aftermath of the scourge ravaging the country and worldwide .

Obi said the second aspect of the interventions was the offer of hope and support to scores of handicapped people in the area as the foundation engaged over 20 of them on January 4, 2021 .

and chairman of Green Energy International Limited, was slammed with a N250 million suit by two aggrieved directors of Green Energy over alleged injustice and cheating among other offences.

The plaintiffs, Dr. Bunu Alibe and Mr. Ayo Olojede, had in a motion on notice marked: FHC/ ABJ/PET/20/2020 filed by their counsel, Alade Agbabiaka (SAN), listed the company and Adegbulugbe as first and second respondents respectively.

The duo are by the suit they commenced via a petition accused Adegbulugbe of a series of a corporate misdemeanors, including unilateral usurpation of executive responsibilities, contrary to the provisions of the Companies and Allied Matters Act (CAMA), 2020,

and the Company’s Articles.

They claimed that they were unlawfully removed by the chairman of the company they jointly nurtured to maturity.

The applicants averred that such decision was contrary to the provisions of CAMA, 2020, and the organisation’s Article of Association.

When the matter was called yesterday, Agbabiaka informed the court that a petition dated November 24, 2020, was filed and served on the respondents and that they had responded with two processes.

He then asked for consolidation of the processes with the suit marked: FHC/ABJ/CS/1390/2020 filed by the company against the petitioners which was already before the court.

Akwa Ibom PDP Chairman, Ekpenyong is Dead Okon Bassey in Uyo The Akwa Ibom State Peoples Democratic Party (PDP) Chairman, Mr. Udo Ekpenyong, is dead.

Sources said the deceased PDP state leader died in the early hours of yesterday.

The state PDP chairman died few months after the death of the state chairman of the All Progressives Congress (APC) who reportedly died from a prolonged illness and had long been buried.

Ekpenyong’s death is the second high-profile death recorded in the state after the death of the first indigenous military Governor of the state, Air Commodore Idongesit Nkanga, who died on the 2020 Christmas eve.

Ekpenyong, before his election as the state chairman of the PDP, was a former state commissioner for Local Government and Chieftaincy Affairs.

By the time of filling in this report, officials of the party and family members were said to be in crucial meeting over the incident.

However, the family, party and the state government are yet to issue an official statement over the tragedy.

The state Publicity Secretary of the PDP, Mr. Borono Bassey, didn’t answer his phone calls to comment on the development.

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24 HOURS...

24 HOURS...

Family Mourns Akin-Olugbade, Says He Has Made Peace with God Kayode Fasua in Abeokuta The Akin-Olugbade family of Ogun State yesterday lamented the death of its scion, Bolusanmi Adegboyega Akin-Olugbade, a legal expert and tycoon, due to COVID-19 complications.

A statement made available to THISDAY by the head of the family, Prince Olusunmade Akin-Olugbade, noted with regrets that the pandemic took the lives of many illustrious Nigerians, who included their own.

“We have been going through a season of weeping in Nigeria on all fronts but most especially because of the Coronavirus pandemic.

“In the past year, we have lost friends, colleagues and associates.

And now COVID-19 has struck again with the loss of my younger brother, Bolusanmi Adegboyega Akin-Olugbade,” the family said.

Grieving over the passage of the legal expert and investor, the deceased’s brother said: “But I will not be at Bolu’s funeral. God has a season, sequence and structure

for all his creation.

“Only God knows the timing of the seasons of our lives. Yes, this is the season of weeping but the Holy Bible teaches us that those that sow in tears shall reap in joy.

“Bolu defied the demons and the merchants of evil and broke the shackles that constrained him.

“I saw the video from the hospital, they asked him if he wanted to end it, and he said yes.”

According to him, the deceased was no longer concerned with longevity, wealth or fame, stressing that he found his release in Christ alone.

“He is free at last. He has made peace with his friends and foes alike. Most of all, Bolu made peace with God,” he stated.

He added that although the Akin-Olugbade family is still mourning, it is grateful to God for the life and legacy of the deceased.

The family thanked family, friends and well-wishers from Nigeria and all over the world who have commiserated with

them “on our loss and have shared in their pain, especially the Reverend Dr. S.A Fegbemi and the church family at the First Baptist Church, Lagos.”

“Through all the changing scenes and vicissitudes of life, our faith remains unshaken in God who is our refuge and our hope for years to come.

“May the soul of Bolusanmi Adegboyga Akin-Olugbade rest in peace and may light perpetual shine on him,” he stated.

He prayed that God should grant succour to Ladunni, Bade, Dademi and Babatunde; and also

uphold, sustain and lift up the entire Akin-Olugbade family at home and abroad.

Olusunmade, however, went nostalgic, recalling the early days of the deceased.

He said he was born when his father was a clerk in the colonial treasury department (now the Ministry of Finance), while Bolu was born after his father had travelled to the UK (United Kingdom) and qualified as a Barrister-at-Law, hence the seeming wide gap in their ages.

“But you could not make out the difference because Bolu was a

tall, fearless man who knew early in life what he wanted in this life, and pursued it with rugged determination,” he said.

He said he was with his mother when Bolu was born on April 2, 1956, and was also present when he received the LL.B degree at the Royal Albert Hall, London from the Queen Mother in 1978.

“I was present when he got married to his heartthrob, the beautiful damsel, Ladunni Moore at the Cathedral Church of Christ, Marina in December, 1980.

“And when they had their first child, Bade in Cambridge,

England in 1981, I was present at the naming ceremony. When Bolu bagged his Ph.D degree in law from Cambridge University in 1985, my late mother and I attended the convocation ceremony.

“And when his Royal Majesty, the Olowu of Owu Kingdom, Oba Dr. Adegboyega Olusanya Dosunmu conferred the Aare Ona Kakanfo title on Bolusanmi Adegboyega in October 2009, I was the Head of the AkinOlugbade Royal family at the ceremony,” Olusunmade said.

Trump’s Daughter Announces Engagement to Nigerian-bred Fiancé, Michael Boulos Miss Tiffany Trump, daughter of outgoing US President, Mr. Donald Trump, yesterday announced her engagement to her fiancé, Michael Boulos.

The 27-year-old daughter of the outgoing Republican president announced the cheery news in an Instagram post, some hours to the end of her father’s presidency. The first family will vacate the White House on Wednesday (today) morning shortly before the inauguration of Democrat Joe Biden as the 46th American president later tomorrow afternoon.

“It has been an honour to celebrate many milestones, historic occasions and create memories with my family here at the White House, none more special than my engagement to my amazing fiancé Michael! Feeling blessed and excited for the next chapter!”

Tiffany enthused.

Tiffany and 23-year-old Michael have been dating since 2018.

According to Wikipedia,

Michael, of Lebanese and French descent, grew up in Lagos, Nigeria.

Michael’s father, Massad, is the Chief Executive Officer of SCOA Nigeria while Michael’s mother, Sarah, is the founder of the Society for the Performing Arts in Nigeria.

The Boulos had moved to Lagos where the family’s businesses are based when Michael was young.

In Nigeria, Michael attended and graduated from the American International School of Lagos. He then moved to London, where he obtained his Bachelor of Arts in Global Business Management from Regent’s University London in 2018, and a master’s degree in Project Management, Finance, and Risk at City, University of London in 2019.

He has been the associate director of SCOA Nigeria since 2016, the director of Fadoul Group since 2019, and the business development manager of Royalton Investment since 2019.

Capt Okunbor Hale and Hearty, Says Family Adibe Emenyonu in Benin-city The family of the Edo State-born business mogul and philanthropist, Capt Well Idahosa Okunbor, yesterday described as malicious and wicked rumours that their son Okunbor has passed on.

The Chairman of Ocean Marine Solutions Limited, Okunbor, had travelled to the United Kingdom on his routine medical checkup, but was being rumoured in some quarters that the business mogul has passed on.

However, in a statement signed by Dr. Tinyan Okunbor, on behalf of the Okunbor’s family, the family said: “Their son, father and benefactor shall live beyond the expectations of

rumour mongers,” warning that those behind rumoured death of Capt Hosa should desist from it or face the wrath of God. According to the statement, “Our attention has been drawn to the malicious rumours making the rounds that our son, brother, father, grandfather and benefactor has gone to be with the Lord.

“We hereby debunk such rumours as they originated from the pit of hell, and hereby state unequivocally that Capt Okunbor is well, hale and hearty.

“Our brother, son and father will surely live beyond the rumours, and God will judge those who delight in peddling fatal wishes on the innocent.”

GIVING BACK TO THE SOCIETY...

L-R: One of the beneficiaries of Sir Paul Obi Foundation Scholarship and Social Intervention Grants, Master Victor Okeke; his mother, Mrs. Chinyere Okeke; and the Founder of the scheme, Mr. Paul Obi, during the presentation of cheques to the beneficiaries at Ogberuru in Imo State ...recently.

Court Dismisses NJC’s Objection on Justice Ofili-Ajumogobia’s Sack The Federal High Court, Abuja has dismissed an objection raised by the National Judicial Council (NJC) against the hearing of the case instituted by Justice Rita Ofili-Ajumogobia challenging her dismissal.

Ruling on the matter yesterday, Justice Inyang Ekwo dismissed all the objections on the grounds that they were misplaced and that Justice Ofili-Ajumogobia’s claim was misconstrued.

The NJC had in 2018, dismissed Justice Ofili-Ajumogobia of the Federal High Court from the service of the Federal Judicial Service Commission (FJSC) on grounds of alleged gross judicial misconduct.

But dissatisfied with the NJC’s action, Justice Ofili- Ajumogobia approached the Federal High

Court, Abuja challenging the process adopted by the factfinding committee of the NJC that recommended her dismissal.

The judge asked the court to declare the report of the committee illegal, unconstitutional, null and void.

The dismissed judge maintained that her fundamental right to fair hearing was breeched in the way and manner she was dismissed from the court bench.

The NJC and other defendants in the matter, however, filed separate preliminary objections against the hearing of the suit on the grounds that the Federal High Court had no jurisdiction to entertain such a matter.

The council held that, being a labour-related matter involving an employee, the judge ought

to have gone to the National Industrial Court (NIC) to ventilate her grievances.

The defendants - the AttorneyGeneral of the Federation, President Muhammadu Buhari, Justice Olufemi Akinta, Justice Ishaq Bello and Justice Julieth Kentu denied the claim of denial of fair hearing alleged by the judge.

They also contended that the case was statute-barred, having not been instituted within three months as required by the Public Officers Protection Act. Justice Ofili-Ajumogobia, in her counter-affidavit, prayed the court to dismiss the objection to her suit on the grounds that she was challenging the constitutionality of her dismissal.

In his ruling, Justice Ekwo dismissed all the objections on the

grounds that they were misplaced and that the claim of Justice OfiliAjumogobia was misconstrued.

The Judge held that Justice OfiliAjumogobia raised constitutional issues bordering on denial of fair hearing in the manner she was dismissed.

He further held that the case of the dismissed judge did not fall under the provision of the Public Officers Protection Act as claimed by the NJC and as such, was not statute-barred.

The judge held that the plaintiff’s claim, being a constitutional matter, could only be heard by a Federal High Court and not the National Industrial Court as canvassed by the NJC. The judge adjourned the matter until April 5,6 and 7, for hearing of the substantive matter.

Lekoil Appoints Aisha Muhammed-Oyebode Board Chairman Lekoil Nigeria Limited, the oil and gas exploration and production company and affiliate of Lekoil Limited Cayman, has announced the appointment of Mrs. Aisha Muhammed-Oyebode as Chairman of the Board.

Prior to this appointment, Mrs. Oyebode served as Interim Chairman and brings her vast experience to the Board.

Muhammed-Oyebode is the CEO of the Murtala Muhammed Foundation and Group Chief Executive Officer, Asset Management Group (AMG) Limited.

A statement issued by the company described her as

a development specialist, international NGO expert and human rights activist with special focus on women and girls’ initiatives.

She is a distinguished advisor on social impact and corporate social responsibility with expertise in Africa. Muhammed-Oyebode, has practical experience in corporate and litigation matters as a legal practitioner and served in the past with global financial institutions which include Caisse Privée Banque, Brussels; Banque Rivaud, Paris; and Banque Privée, Geneva, and is a member of several Nigerian boards.

She is a member of the Women’s

Leadership Board of the Harvard Kennedy School - Women and Public Policy Program, and an Advisor and Country Expert to the University of Pennsylvania Law Global Women’s Leadership Project.

She is also an advisor to the United States Institute of Peace (USIP), as a Member of its Senior Working Group on Nigeria.

Reacting to her appointment, she said: “Having served on the Boards of Lekoil for over six years and through the early stages of the Company’s growth achieved in challenging times in the E&P sector, I am honoured to accept this new appointment as the Company

embarks on an exciting period of growth that will further serve Nigerians and Nigeria”.

Muhammed -Oyebode

WEDNESDAY JANUARY 20, 2021 • T H I S D AY

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COMMENT

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

THE TRIAL OF BISHOP KUKAH

The Catholic Bishop of Sokoto has the right to express an opinion, argues Sonnie Ekwowusi

I

had thought the media trial of Catholic Bishop of Sokoto Matthew Hassan Kukah over his 2020 Christmas Message had ended. But I was mistaken. The trial, for all you know, has just reached its crescendo. Last Wednesday the Buhari Presidency joined the hordes of accusers preferring charges against Bishop Kukah. Prompted by the increasing bloodletting and insecurity of lives and property and the general hopelessness in Nigeria, Bishop Kukah had in his 2020 Christmas Message regretted that the Buhari government was not living up to public expectation and therefore needed to re-invent itself in order to tackle the bloodletting ad existential challenges confronting the nation instead of foisting a Northern hegemony that is counterproductive and damaging to national interest.

But unfortunately, the natural and ordinary meaning of the above has been misinterpreted and distorted by some individuals and interest groups to mean different things, which, according to Bishop Kukah, are outside his contemplation. For example, while some allege that Kukah was calling for a coup d’ tat, others such as the Muslim Solidarity Forum, Jama’atu Nastril Islam (JNI) and Muslim Rights Concern (MURIC) allege that he had disparaged Islam and Muslims. In fact, the Muslim Solidarity Forum has given Bishop Kukah an ultimatum to either tender unqualified apology for allegedly disparaging Islam failure for which they would eject him from Sokoto State. As if this was not enough, last week, the Presidency teamed up with the aforesaid accusers in accusing Kukah. Hear the Presidency: “Father Kukah has greatly offended many with his controversial remarks against the government and the person of the President, with some even accusing him of voicing anti-Islamic rhetoric.”

In his defence, Bishop Kukah has challenged his accusers to adduce concrete evidence substantiating the charges slammed against him, and that if he is found guilty as charged he would not hesitate to adorn a sack cloth and go down in repentance as well as tender an unreserved apology. Without holding brief for Bishop Kukah, I have read and re-read the aforesaid 2020 Christmas Message, and, I must confess that I find nothing therein directly or indirectly willed or intended to fan the ember of a coup d’ tat or cast aspersion on Islam or disparage the integrity of Muslims or sway public opinion in a manner that is prejudicial to the cause of Islam or Muslims. It is trite law that he who asserts must prove. Mere allegation without supportive evidence to prove the allegation goes to nowhere and must be discountenanced. Therefore, if Kukah’s accusers are seriously alleging that he is guilty as charged the onus is on them to substantiate the charges with evidence otherwise their charges would fail. It is even surprising that the Presidency, which ought to know better, has joined the fray in bringing the same spurious and unsubstantiated charges against Kukah without adducing any concrete evidence. No matter how grounded, sentiment, hatred or suspicion cannot secure a conviction.

And those alleging that Kukah’s Message is replete with malicious euphemisms and wounding innuendoes disparaging Islam and integrity of Muslims should in no unmistaken terms clearly spell out the innuendoes and euphemisms, and, how they

IT IS TRITE LAW THAT HE WHO ASSERTS MUST PROVE. MERE ALLEGATION WITHOUT SUPPORTIVE EVIDENCE TO PROVE THE ALLEGATION GOES TO NOWHERE AND MUST BE DISCOUNTENANCED

have been used to disparage Islam and Muslims for all us to see.

No innuendo or euphemism can alter the natural and ordinary meaning of a statement or supply a meaning completely different from the ordinary meaning of the statement unless the contrary is shown. Therefore the onus is on the accusers alleging innuendo or euphemism to show that beyond the natural and ordinary meaning of a statement, there are inferential, inherent or secondary meaning of the statement or meaning arising from facts extrinsic to the statement which will would lead a reasonable person to infer that the statement was understood in that meaning.

Having said this, let’s go to the fundamentals. Must the truth offend? The purpose of human intellect is to know the truth of things. This truth remains unchanged even in a culture or philosophical atmosphere that is saturated by the denial of the truth or political atmosphere in which a tyrant scuttles the truth.

Is it not true that 90% of President Buhari’s political appointees are from the North? Is it not true that President Buhari has refused to alter this imbalance in conformity to the pluralistic and multi-ethnic nature of the Nigerian society and the Federal Character principle as enshrined in section 14(3) of the 1999 Constitution? So, why is the Presidency angry that this truth is being voiced? If the Presidency wants high public rating from the citizenry then it should start discharging its duties diligently and responsibly. After all, public approbation is earned not imposed.

But what the Presidency cannot do is to try to gag or muzzle public speech. One of these basic rights which the citizens enjoy in constitutional democracy like ours is the right of the citizens to express their satisfaction or dissatisfaction with the performance of their political leaders. Pursuant to this right, Bishop Kukah has a right to hold, for instance, the view that President Buhari has failed as a president of Nigeria. Right to freedom of expression is an inalienable human right which the state or any tyrannical government cannot forcibly deny its citizens. After nearly 237 years, those words of Declaration of American independence continue to resonate. The Declaration reaffirms the inviolability of human life, freedom and pursuit of happiness. Every human being no matter his or her race, tribe or tongue is entitled to the enjoyment of his or her right to freedom of expression.

In a country in which the killing of innocent human beings has become norm, a statement made in good faith by a responsible citizen denouncing the killing in line with public policy and in the exercise of the right to freedom of expression as enshrined in 39(1) of the 1999 Constitution cannot, in my humble view, and, by any stretch of imagination, be misconstrued as fanning the ember of a coup d’état or a malicious attack on Islam and Muslims. It is well settled that a citizen cannot be prevented from initiating a public discourse which may fairly be regarded as one of public interest by reason merely of the fact that the matter in question affects the president of the country or that the person whose conduct is being publicly criticized happens to be the president of the country. It is the inalienable right of every citizen to make comments, even outspoken matters on matters of public interest.

ONLINE LEARNING AS LEARNING DEMOCRACY Victor C. Ariole contends that the internet is easily accessible but it is also expensive

We have come to take for granted that the internet enables an unparalleled diffusion of information, promising more knowledge for more people… in this hidden movement… division of learning in society shades towards the pathological, captured by a narrow priesthood of privately employed computational specialists, their privately-owned machines, and the economic interests for whose sake they learn...

Zuboff (2019, 189)

I

nternet has enabled greater access to information than classroom teaching no doubt. However, it has allowed no fewer than 10,000 tech professionals to create extreme asymmetries of knowledge and power that throw in a value chain that makes consumption of their product to create larger slaves of humans at the bottom who must be exploited; and on top of the pyramid, fewer people who must make money to the detriment of labour or any production means not connected to the internet. And Eric Schmidt could state that modern technology platforms are nothing short of a biological virus scaling as quickly, efficiently, aggressively and making the few controlling them to use them so powerfully to the helplessness of others. Even a whole President of USA could be denied access if unwanted or undesired on the platforms.

And his German counterpart, Merkel is grievously protesting against that.

The current Covid-19 infection has even connected to it to drive learning and teaching into helpless mass acceptance, enforcing “herds behaviour” that is about creating sub-human entities who are swarmed with masses of information that give no room for the thinking faculty; like Zuboff states, the process is creating pathological subjects and objects. This is what Nigerian universities are finding hard to adapt to as the facilities are not there for them to obviate the pathological flow in which make-belief quality humans are to be produced to be awarded degrees in character and in learning as if the inter-

actional process that yield character value content is no more important, in an avoidable human extinction headed world.

Climate change is an erosion to biodiversity but human extinction beyond pathological virus activation, could also be linkable to humans’ quintessential values of apprehension and neuronal presence, giving way to soul-less human beings.

Online learning as learning democracy is welcome but it is not adaptable to producing humans in character and in learning. A state like California, as the biggest state in USA and the biggest in accommodating subjects and objects of learning still sees Stanford University as a flagship University where most of their products are produced in character and in learning, as against University of California with 10 campuses and over 285,000 students. Stanford University has about 16,000 students with 19 Nobel Laureates as part of their community. In effect, online learning is well packaged in University of California than elsewhere and their products exhibit mostly what one sees in Hollywood, a great ground for robotic display of character – make-believe characters – either to force a herds approach that pushes the masses to future repositioning or learning that could turn out hoax the way some religious cults had led to mass suicide in USA in the past or could turn out the best for a new world. Make-believe world and real world like investment world and realty world are in competition even in the design of school curriculum.

Imagine the whole world constructing its curriculum along the line of cyberspace dependence – albeit beyond over 99% of humanity – controlled by servers that dictate when knowledge could happen or not. And Africa has no access to such cyberspace control just like Nigeria is even worst with no steady electricity supply, and all gadgets relating to online learning depend on servers and availability of electricity. And no Tier 1 Internet Service Provider like the acknowledged big ones – Verizon and AT

and T – could lead any Tier 3 or 4 ones, mostly seen in Nigeria, to the WWW, from an environment that cannot electrically power Fiber-optic, cables, or even for remote rural areas that could access via satellite, primitive conductors.

That alone escalates the cost of accessing “Learning Democracy in Nigeria”; that is: learning made available to the majority for majorly vulgarising learning extracted from the behaviour of the majority. Artificial Intelligence is meant to design what make mass production viable and learning democracy produces what mass behaviour can absorb for it to be profitable.

For Nigerian university the platform is very shaky as it turns out that even contact or face to face learning seems more affordable to the masses than internet learning.

Lagos State University students just protested the hike of their school charges (not even tuition) above the usual N25,000.

Now, imagine a student being available for internet learning for a minimum of 15 hours a week. The availability of electricity to charge battery and the amount to pay for data or the frustration that goes with network fluctuation could lead to neuronal and physical breakdown of both teachers and students especially when the university platform is being accessed by over 30,000 students.

The teachers who must be navigating the education or learning platform on his/her computer so as to prove competent in their field as well as in sequencing learning input processes for up to three courses and above, of nine-hour a week for 12 to 15 weeks, in order to achieve the desirable learning outcome of their “Ghost” learners.

Ghost learners, they could be, because a demotivated teacher could not be interested in seeing their faces on the platform. And what is more, the control system could be lacking in making sure that, indeed, deserving students earned their degrees in learning and in character. One of the best ways of doing that, which is getting the students on

the platform to peer review the contributions of their mates in a team work manner on the platform, could be ignored. And, again, submitting all the processes and interaction on a platform to another auditing lecturer could also be ignored. And, again, the learning sequencing and input process as could never be the same for different disciplines.

And in which ever discipline, the students must be required to turn in an agreed quantum of pages as a test of competence to write a logical report or essay.

Some students from private universities who decided to do masters’ degree in some better established universities are already proving incapable of writing examinations without textbooks in the hall, as most of them operated that way before. Even, at that, the examining process, if well designed, could make the presence of text book useless. Nigerian teachers that are already demotivated by weak government interest in education would also find themselves greatly challenged by further greater deficit of learning facilities and weaker reward system.

Online administration of test or examination involve great psychological disposition reserved for greatly motivated teachers.

It is either Nigeria discards its universities if it has no needs for future wellbeing, as no money is invested in them to make them human capital development centers that must sustain the viability of a nation, or hands them over to their Alumni to raise funds and manage them for the glory of the Alumni and for a better yield to Nigeria and a greater contribution to the world. Nigeria must not be seen tomorrow as robot-filled country; and as one tech expert said, when you develop humans to behave and act as robots, you do not need soldiers to occupy their territory; you use the results obtained from learning democracy to push them aside or crush them and take over.

Ariole is Professor of French and Francophone Studies, r6OJWFSTJUZ PG -BHPT

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EDITORIAL

THE CASE FOR RENEWABLE ENERGY Renewable energy should be given adequate attention

T

he recent launch of a ‘Solar Power Naija’ project, which focuses on five million solar connections for off-grid communities as part of the federal government response to the COVID-19 pandemic is ordinarily a good idea. But we are concerned that the emphasis is on income generation in a nation that reels in darkness. The solar power programme, according to the Rural Electrification Agency (REA), is expected to generate an additional N7 billion ($18 million) increase in tax revenues per annum and $10 million in annual import substitution.

IMPROVEMENT IN Despite being blessed with RENEWABLE ENERGY renewable energy TECHNOLOGY COUPLED (RE) resources like WITH AN INCREASING wind, solar, biomass DECLINE IN TECHNOLOGY and hydropower, the majority of our COSTS OVER THE PAST people, especially in DECADE MEANS THAT the rural areas, still RENEWABLE ENERGY have no connection IS BECOMING MORE to power. After India, Nigeria has the AFFORDABLE highest number of un-electrified people of any country in the world. The solution to this crisis seems to be renewable energy.

Yet, this sub-sector in the electricity industry has practically been overlooked until now.

With everybody supplying their own electricity, Nigeria is one of the toughest places in the world to do business. Lack of electricity has over the years limited access to healthcare, education and other opportunities, including running their businesses for majority of Nigerians. Many small and medium scale businesses have been crippled due to the prohibitive cost of generating their own power. Even the big business ventures, particularly the manufacturing ones, are also feeling the biting effect of energy poverty with consequences stretching to every part of the economy.

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However, improvement in renewable energy technology coupled with an increasing decline in technology costs over the past decade means that renewable energy is becoming more affordable and one of the least expensive option on the table. Several private sector companies and investors are hoping to bring the explosion of decentralised energy solutions that we’ve seen grow by leaps and bounds in East Africa to Nigeria. If the government has the vision to grab it, within the various renewable energy solutions, there is a lifeline to solve our power crisis quickly, affordably and sustainably. That also gives us a chance to end the blight of energy poverty on Nigeria. That lifeline is called “decentralised renewable energy”. It is what most people know as rooftop solar (for homes and businesses), green “mini-grids” and portable solutions like solar lanterns.

In the case of decentralised solutions, the best thing the government can do is set policies and regulations that are clear and equitable and then get out of the way. The private sector, combined with “patient” capital from social impact investors and aid agencies, is ready to go big in Nigeria as long as a regulatory framework that is friendly to business and fair to consumers is in place. In the process, we can unleash a new wave of entrepreneurship and job creation similar to other countries that have embraced the clean energy revolution.

According to the first annual job survey for the decentralised renewable energy (DRE) sector in emerging economies which covered the period 2017–18, Nigeria is one of the fastest growing in terms of employment opportunities for both formal and informal jobs. But the country can do far more.

The REA has pledged its determination to expand energy access to 25 million individuals through the provision of solar home systems (SHS) or connection to a mini-grid while increasing local content in the off-grid solar value chain. This is a noble objective.

But the authorities must go beyond rhetoric to concrete action. Nigeria cannot continue to remain a laggard in the clean energy transition sweeping across the globe.

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.

CENTRE IS THE POINT OF HYPOCRISY

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an is free to make a choice and or take a decision to the extent that they do not hurt themselves as to hurt oneself is to hurt another. This is especially so given that humanity is concerned about everything human, including how man treats themselves. In more legible terms, freedom itself is limited.

It starts from where the needs of man begins and ends where that of another man begins. Therefore, even as man is free to live, they must let live. And to let live is to live - for, the life of every man is equal to that of every other man.

Thus, a place where there are no limits to freedom can best be described as jungle. Jungle is where there are no laws. It is where everything is free for everyone and everyone is free for everything. And in a life which its purpose is to serve God, everything cannot be free for everyone and everyone cannot be free for everything. God created man, a higher animal, with sense of reasoning to be different from lower animals that have no sense of reasoning.

He created man and every other living being in two forms - feminine and masculine so that both will find peace and comfort in each other and reproduce in such a manner that in His favors, every of his creations will multiply in number. And beneath the peace and comfort lay some form of attractions between them - they both have a specific desire for each other.

To further establish this point, even in elementary electrical physics, Coulomb’s inverse-square law which is an experiment that quantifies the amount of force between two electrically charged particles states that like charges repel but unlike charges attract. Though this depends on certain conditions, it meanwhile goes on to confirm that except under abnormal conditions, there is nothing attractive between two same things or people. Man cannot be attracted by man and woman cannot be attracted by woman.

But if that happens, then a case of psychological disorder is established.

And religiously, LGBTQ are prohibited and therefore punishable because of their social and medical negative consequences. They present a clear danger to the continuous existence

of the highly intelligent primates called homo sapiens. Common sense therefore, should tell that anything that is inimical to the well-being of man, they should stay away from it.

More so, man should clearly stand against it as there is no reason to contemplate protecting self from what is both heavenly prohibited and earthly mortally dangerous to the entire human species. But either as a case of a disobedient child or that of failed parenthood, some supposedly intelligent primates have taken the centre position; the point of hypocrisy.

For them, freedom has no limits and as such, anyone is free to choose between being straight and one of the LGBTQs. And as if to prove that they are merely being hypocritical in the truest meaning of the word, they have appointed themselves as the spokespersons of the LGBTQs and therefore their protectors. But with this, they are far from being the centrists they claim they are. Rather, in effect, they are with the LGBTQs. They are sympathetic and protective to them. rMukhtar Jarmajo, dattuwamanga@ gmail.com

I’LL BE BACK?

A

lthough there is only one day to go the Trumps have not invited the new tenants, the Bidens, over for a welcome cup of coffee. They will miss the opportunity to pass on important information including, watch out for the toaster as it burns the toast most times, you don’t have to worry about the house plants as someone waters them for you and for some reasons all the TVs seem to be stuck on Fox News.

The tradition of welcome and a respectful hand over as the Obamas, Bushs, Clintons and others have done for the last century or more is symbolic part of the inauguration but not this time. It’s almost sad to see a negative finish to a very negative presidency when it would have been so easy to do and force a smile as probably many of the previous occupants have done.

The other departing tradition of leaving a message for the next occupant in an envelope will be interesting. It will probably say “I’ll be back” but without the accent or credibility. It might be written with the big black marker or a crayon which might symbolise the childish behaviour.

Leave in peace but please leave the political world. r%FOOJT 'JU[HFSBME .FMCPVSOF "VTUSBMJB

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WEDNESDAY JANUARY 20, 2021 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY JANUARY 20, 2021

MIDWEEKPOLITICS

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

The Nigerians on Biden’s Team Vanessa Obioha writes that today’s inauguration of Joe Biden as the 46th President of America is seen by many Africans as a redemption of the fraught relationship the continent had with President Donald Trump

T

he long-awaited dream of many Americans to see the 45th president of the United States of America, Donald Trump leave the White House will finally be a reality today as Joe Biden, the winner of the 2020 presidential election will be inaugurated. The ceremony, usually done with fanfare, is on a low key as the nation continues to battle with Coronavirus. The pandemic has claimed nearly 400,000 lives in the United States.

On the eve of his inauguration ceremony, the lost souls were immortalised by Biden and Vice President Kamala Harris alongside their families at the Lincoln Memorial Reflecting Pool. The Pool was illuminated by 400 lights.

Each light is meant to represent approximately 1,000 Americans who will have perished from the virus at the time of his swearing-in.

Biden is expected to be sworn in by Chief Justice John G. Roberts Jr. on the Capitol’s West Front sometime before noon. This will be followed by an official escort of the President and Vice-President and their families to the White House with representatives from every branch of the military for one city block. It replaces the traditional parade before cheering spectators along Pennsylvania Avenue.

Biden’s emergence as the new President of America has long been seen by Africans as a redemption of the fraught relationship the continent had with Trump. Trump’s anti-immigration policies and interference in the nomination of Nigerian personalities to key positions on the global stage, notably

Biden Ngozi Okonjo-Iweala’s appointment at the World Trade Organisation did not make him a favourite. However, some Christians will lay their lives down for him as he is believed to be a good Christian, despite his blatant and numerous atrocities.

Already, President Muhammadu Buhari has expressed confidence that Biden will restore faith in the country in his congratulatory message to the new President last November.

He said, “President-Elect Biden’s remarkable track record gives us hope that he will add value to the presidency and world affairs. We look

forward to greater cooperation between Nigeria and the United States, especially at economic, diplomatic, political and security levels,” he said urging “Mr Biden to deploy his vast experience in tackling the negative consequences of nationalist politics on world affairs—which have created divisions and uncertainties—and to introduce greater engagement with Africa on the basis of reciprocal respect and shared interests.”

As Biden is officially installed in the White House, all eyes will also focus on the Nigerians that will be working with him. They include Adewale Adeyemi who will serve as the Deputy Secretary of the US Treasury, Osaremen Okolo, as COVID-19 Policy Advisor and Funmi Olorunnipa-Badejo as a White House Counsel.

Adeyemi, fondly called Wally was appointed on November 30, 2020, becoming the first African-American to occupy the position.

He will work with Janet Yellen who is appointed Secretary of the Treasury. The Osun state born Nigerian was appointed by John Kerry’s presidential campaign at 23 to inspire African-American voters in California. He also participated in the presidential campaigns of John Edwards and Barack Obama. In 2015, he was appointed advisor to the presidency on international economic issues. In 2019, Wally was appointed President of the Obama Foundation that supports charitable work in Africa and elsewhere.

Twenty-six-year-old Okolo was named among the 100 people that will work in the White

House. She will be part of the new president’s COVID-19 Response Team that will work to quickly implement a comprehensive, wholeof-government COVID-19 response strategy to contain the pandemic, restore public trust, and protect all Americans. The Edo State indigene worked on the Biden-Harris Transition team before her latest appointment. The effort to reverse the blows dealt on America and the world by the pandemic is a major area that the Boden campaign and by which his performance in office will be judged.

The Harvard graduate of Medicine and African-American Studies was a Senior Health Policy Advisor in the US House of Representatives. Her work experience includes serving as Legislative Aide for both Health Policy on U.S. Senate Committee on Health, Education, Labour, and Pensions (HELP) for Ranking Member Patty Murray of Washington; and U.S. Representative Jan Schakowsky of Illinois.

Badejo on the other hand is a lawyer and an alumnus of Berkeley Law College in the US. She has served as a counsel for policy to the Assistant Attorney-General in the Civil Division of the US Department of Justice and Ethics Counsel at the White House Counsel’s Office. She was also Attorney Advisor at the Administrative Conference of the United States during the Obama-Biden administration.

These three Nigerians, young and brilliant are expected to help President Biden achieve his set goals while putting the spotlight on Nigeria that is notorious for her lacklustre interest in developing young talents.

Aguleri, Umuleri at War Again Despite undeniable blood ties, the people of Aguleri and Umuleri and by extension, Umu-Oba communities in Anambra State, in the past 22 years, continue to live in a manner that clearly shows that they dislike each other, writes David-Chyddy Eleke

S

everal communities in Anambra State have been involved in hostilities before now, and some are currently embroiled in some form of crisis , but none has assumed the extent of violence perpetrated in Aguleri and Umuleri communities since 1999.

Within three months, in that fateful year, more than 350 lives and properties worth millions of Naira were lost. It took the intervention of the then President, Chief Olusegun Obasanjo for the war to come to an end. But both communities have continued to bicker, using the least provocation as excuse to fight.

Last Saturday, hostilities broke out between both communities, leading to the loss of two lives and the destruction of several properties.

Though the Anambra State police command confirmed the outbreak of crisis, but could not confirm that two persons died.

Police Spokesperson in Anambra, CSP Haruna Mohammed in a press release confirming the outbreak of hostilities in the area said, “On 16/1/2021 at about 7:15am there was a report of crisis between Umueri and Aguleri communities both in Anambra East LGAof Anambra State over a disputed area of land which both communities were laying claims to. Following the distress, the command quickly dispatched joint Police teams comprising PMF/RRS and other conventional units in collaboration with other security agencies led by the Deputy Commissioner of Police in charge of operations DCP Salman Dogo to the scene. Situation was brought under control, while joint patrol is still ongoing to restore normalcy in the affected areas.”

Mohammed said no live was lost, but injuries have been reported. He said, “One building, four vehicles and two motorcycles were set ablaze by the warring factions. The Commissioner of Police CP John B.Abang has directed the State CID Awka to carry out discreet investigation in order to ascertain circumstances surrounding the incident and bring perpetrators to book.

The CP also warned both parties to maintain peace and explore all the legal avenues to resolve their grievances without resorting to violence.

He further assured both parties that he would

Obiano contact the State Government to intervene in the matter in order to find lasting solution to the lingering problem.”

Acting swiftly, Governor Willie Obiano quickly announced the imposition of curfew on Aguleri, Umueri and Umuoba Anam towns.

The announcement came barely 24 hours after the eruption of crisis in the communities. It was gathered that the motive behind the imposition of curfew was to stem further outbreak of communal violence in the three towns. The statement disclosed that the curfew will last from 7pm to 7am daily, beginning on the same Saturday, 16th January, 2021. “The curfew in the first instance will last for three days. Violators of the curfew would be prosecuted,” Obiano said.

The curfew which ended on Monday was however extended by another six days. The Secretary to Anambra state government, Prof.

Solo Chukwulobelu who disclosed this said, “Governor Willie Obiano has been very pro-active in managing this conflict. The curfew imposition, and joint security patrol in the affected communities are among the measures which have helped to de-escalate the situation.” He added that the state government was desirous of maintaining peace across all Anambra communities, and cautioned residents of the affected communities to strictly obey the curfew order

as violators will be prosecuted.

Obiano who hails from one of the warring communities, Aguleri, THISDAY gathered has been working behind the scene to ensure he resolves the crisis before he leaves office, in March, next year, but was forced to act openly when last Saturday’s crisis broke out. It is believed that if as a stakeholder in the area he fails to broker peace between both communities, it may be hard for an outsider to do so when he leaves office.

This may be the reason Obiano is adopting a multi-pronged approach in tackling the problem.

He has within three days of the outbreak of the crisis quickly put together a boundary committee to deal with the lingering crisis once and for all.

Announcing the setting up of the committee, The SSG, Prof Chukwulobelu said, “His Excellency, Chief Willie Obiano, Governor of Anambra State has set up a Committee to look into the boundary dispute between Aguleri and Umuleri. The committee’s terms of reference are: to establish the immediate cause of the dispute between the two communities, that occurred on Saturday, 16th January, 2021, between Aguleri and Umuleri. To invite and interview the families that own the lands in dispute. Establish the boundaries between Aguleri and Umuleri as a whole. Recommend other possible solutions that will guarantee lasting peace in the area.

The committee has three weeks to conclude its assignment.”

He listed members of the committee to include; Air Vice Marshal Ben Chiobi; Chairman, Permanent Secretary, office of the Secretary to the State Government; Secretary, Dr (Mrs .) Uju Nworgu, Attorney General and Commissioner for Justice, Hon. Bonaventure Enemali, Commissioner for Lands, Barrister Chike Maduekwe, Chairman, Anambra State Physical Planning Board, Chinedu Aniagboso, Chief Security Officer to the Governor andor Chief Ajoku, Retired Survey General. Others are; Ezeudo Dr. Michael Idigo, Eze Aguleri, Okebo Ben Emeka; Igwe Umuleri Okebo, President General of Aguleri, President General of Umuleri, Youth Leader of Aguleri, Youth Leader of Umuleri and Transition Committee Chairman of Anambra East Local Government

Area. Members of the Committee were sworn in on Tuesday, Dr. Nkem Okeke, Deputy Governor of Anambra State, at the government house.

Meanwhile, before the committee settles down to its tasks, prominent Anambra people and groups have also risen against the crisis, urging both communities to embrace peace. Engr.

Chris Emeka Azubogu, the member representing Nnewi North, Nnewi South and Ekwusigo federal constituency in the house of representatives has sued for peace and understanding between both communities. The lawmaker who is running for the governorship seat of Anambra State said he has been on a statewide engagement on the ‘future of Anambra state development’, said such actions will hamper the development he intends to bring to the state.

He said, “Destruction of lives and properties as a result of land disputes do not define our humanity. We are a republican people by nature who resolve disputes through community meetings; not war. Killings and destruction of properties reduces our humanity and going forward, we should shun both as means of conflict resolution. No part of our state should be allowed to be engulfed in avoidable strife at a time we should be evolving strategies to keep our post COVID-19 economy afloat, that will be too unfortunate. Incidentally, we are about to enter farming season and crisis like this can only be an invitation to hunger,” he said.

The lawmaker expressed worry that there is a trend of the growing communal crisis in the state within the last six months. He listed some communities that have been involved in skirmishes to include; Odekpe and Allah N’ Onugwa communities in Anambra West LGA; Urum and Achalla in Awka North LGA; Umumbo/Omor in Ayamelum LGA and now Aguleri/Umueri in Anambra East LGA of the state. He said each of the clashes had left horrendous destruction in its trail, warning that communities should think of better ways of solving problems and not violence.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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T H I S D AY ˾ WEDNESDAY JANUARY 20, 2021

POLITICS

Interrogating the Godwin Maduka Factor in Anambra Politics

GOVERNANCE IN PHOTOS

Tony Amadi highlights the achievements of Dr. Godwin Maduka, one of the leading aspirants for the governorship ticket of the Peoples Democratic Party in Anambra State

Maduka

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n recent times, public discourse in Anambra expectedly centre on the potential replacement for Anambra Governor Willie Obiano. One of the names on every slip is a front runner in the race, Dr. Godwin Maduka, who is the Medical Director of Las Vegas Pain Institute, a vast array of six frontline hospitals in the USA state of Texas who has entered the race for Anambra 2021 gubernatorial election.

At this juncture, it is important to beam the search light on the likely candidates, particularly Maduka to help Nigerians in general understand and make the right leadership choices. Obviously there are quite a good number of people contesting the gubernatorial polls in Anambra and while the media may not keep complete tab on the number of contestants, there are key candidates you cannot keep out of any analysis.

The antecedents of Godwin Maduka is already well known as the poor lad who left Nigeria some 40 years ago in search of education, fame, fortune and the American dream. After obtaining three doctorate degrees including Medicine, Pharmacy and others established the Pain Institute, he began to develop his hometown of Umuchukwu in Orumba South Local Government Area of Anambra State in a manner never witnessed before in Nigeria.

In the past 20 years, he poured out his own hard earned resources to erect infrastructure in the small town. First ,was a standard hospital he handed to the Catholic Church to enable adequate health service reach his beloved people. This was followed by two churches for Catholic and protestants, houses for about 100 widows, a magistrate and high courts for the quick dispensation of justice, primary and secondary schools, a monastery and then a police facility for easy dispensation of justice and law enforcement.

It was when he started road infrastructure around the town that the government of former Governor Peter Obi came in to help with the asphalting of the roads which combined to make Umuchukwu a complete city in its own right. I could not believe what I saw when I went to the town to verify what I had read in newspapers, television, conventional and social media as well. I was stunned to disbelief on the weekend that I came to see the wonderful town.

The idea of politics was never in his mind when he was performing the infrastructural magic upon his home town. The development he had wrought on Umuchukwu began to blossom across the state and people were wondering what was happening and he began to visualize the possibility of his vision spreading state wide across Anambra. He concluded that it will be a beautiful thing for Anambra to get the same development

that his hometown was witnessing. The only way this could work was to seek political power for the benefit of the state and by extension, the country Nigeria.

This son of a native doctor has arrived. He used to accompany his father to the bush to pick up roots and leaves for medical treatment of his people and augmented his school fees by climbing palm trees to pluck the fruits. He recalled falling down the trees on eight different occasions. This was the genesis of his quest to study medicine in the first place. For the past 20 years after his Harvard Medical School graduation and the setting up of his hospitals in Nevada, another part of his nature began to crystalize: philanthropism.

Of course Nigeria can boast of top flight philanthropists, but I am yet to meet one that can surpass the depth of Dr. Godwin Maduka’s philanthropism. To complete this level of philanthropy, the Nigerian American medical doctor has just completed the building of a 17 storey medical research center in Umuchukwu for the study and research of not only tropical medicine but a medical institution that will help end medical tourism in Nigeria and halt the billions of dollars our country spends in search of medical treatment abroad.

Dr. Maduka has spent the past two months acquainting himself with the rudiments of political engineering, political campaigning and essentially contacting the power players of the state and country, explaining his ambition and mission to fasten the pace of economic, political and technological development of South-east’s flagship state and take it to another height that has so far not been reached since the days of Dr. Nnamdi Azikiwe, Dr. Michael Okpara, Jim Nwobodo and others.

He has in the process shown his people the pedigree he is bringing into the fray and how he intends to purify the muddied waters of Anambra politics and steer its economic fortunes to prosperity.

I joined his entourage in 11 of the 21 local government areas where he addressed members of his Peoples Democratic Party (PDP) delegates to the convention which will decide who of the large number of gubernatorial contestants that will fly the party’s flag for the November 2021 elections.

Dr. Godwin Maduka, may appreciate the various nicknames he has already become known for, such as Lion of Africa, Okosisi Orumba, even the Philanthropist of the Millennium as well as the various awards he has been picking up in the course of his political quest, but he knows that it is not going to be easy if he makes it to Agu Awka, the power centre or government house of the state, Maduka’s soapbox oratory was simply outstanding and is not only classy in the tradition of Nnamdi Azikiwe but has molded himself into the man to beat in the forthcoming contest.

The enduring message he gives out at each stop in the rigorous political tours is that the delegates at the primaries and the larger voters at the election should find out from each aspirant courting for their votes to tell them what they have done for their various people and community before seeking to take on governing the state as a whole. That seems a reasonable starting point that will help to separate the men from the boys.

In a state where virtually every town has produced billionaires and politics has become a very serious business, Dr Maduka has made sure that politics was no longer business as usual and whoever wants to lead the state should have impacted his community in a manner that his performance was no longer going to be in doubt.

L-R: A Plastic Surgeon , Prof. Adigun Lawal: Ogun State Governor, Prince Dapo Abiodun; the State Commissioner for Health, Dr Tomi Coker and the Chief Medical Director of the Federal Medical Centre, Abeokuta, Prof Musa Olomu at the bedside of Mr Wale Ojelabi, one of the victims of the petrol tanker fire accident, during a sympathy visit to the victims at FMC, Abeokuta

L-R: Abia State Chairman of the Peoples Democratic Party , Rt Hon Asiforo Okere, Governor Okezie Ikpeazu and Deputy Governor Sir Ude Oko Chukwu addressing journalists after the meeting of the State PDP stakeholders at Umuahia

L-R: Chief Bento Essien Ibok, an elder of Ikot Ibok village, Mr. Robinson Umoh, Aide to Mr. Moses Ekpo, Deputy Governor of Akwa Ibom State and Hon. Solomon Akpan Solomon, Councillor representing Southern Iman Ward 3 and Deputy Leader of Etinan local government legislature when the Deputy Governor’s team presented food items to Ikot Ibok community

From left: Deputy Majority Leader, Osun State House of Assembly, Hon. Kunle Akande, Governor State of Osun, Mr. Adegboyega Oyetola, former Group Managing Director, Oodua Investment, Chief Bayo Jimoh, Commissioner for Water Resources and Energy, Hon. Amidu Tadese and Commissioner for Regional Integration, Hon. Lekan Badmus, during the Fidau Prayer for late Senator Hamzat Adebayo Salami, at Technical College Ground, Osogbo

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Revamping Aba’s Infrastructural Road Deficit Emmanuel Ugwu-Nwogo writes that Abia State government has begun a total revamp of the yawning infrastructural deficit in Aba, which includes the construction of the once impassable Osusu Road that has caused untold hardship on motorists and residents alike, with the facelift extending to adjoining streets of Ebenma, First Avenue and Egege/Ama Ohafia, all in the Ogbor Hill axis

The Papal Apostolic Nuncio in charge of Jamaica, Trinidad and Tobago and several other Carribean countries, Most Rev Fortunatus Nwachukwu; Governor Okezie Ikpeazu (far left) and others at the inauguration of the newly constructed Osusu road

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s the scissors in the right hand of the Papal Nuncio, Most Rev Fortunatus Nwachukwu snapped at the ribbon, residents of Osusu road Aba watched in awe and jubilation at what to them was a spectacle. The dilapidated abandoned Osusu road has become a new road.

Residents had resigned to fate after waiting in vain for previous administrations in Abia to fix the collapsed road.

One of the residents, who came to witness the inauguration of the road, Mrs. Uchechi Ibegbu was hysterical as she waved at Governor Okezie Ikpeazu and the Apostolic Nuncio, who is in charge of Jamaica, Trinidad and Tobago and several other Carribean countries.

When she got hold of herself, the excited middle-aged woman asked rhetorically, "Is this Osusu road," Obviously, she could not believe her eyes. "It looks as if I'm dreaming," she added. Mrs. Ibegbu, who said that she has been living in the area for the past 15 years told THISDAY that seeing Osusu road "transform from impassable to a smooth shining road is something she had not contemplated would happen in the present administration". She stated that having suffered untold hardships due to the very poor condition of the road "we even doubted if the road would actually be completed when the contractor arrived to start work".

But the doubts in the minds of residents was finally cleared as Osusu road was among the multiple road projects inaugurated by Ikpeazu on January 11, 2021 to give Aba residents a new year gift to cheer about. It was not a lone package as the adjoining streets of Ebenma, First Avenue and Egege/Ama Ohafia, all in the Ogbor Hill axis of Aba were equally reconstructed and delivered as part of the cluster of roads in the gift package.

At the western flank of the sprawling city multiple roads that were already completed were similarly inaugurated on the same day to the delight of residents. These include Eziukwu, Ojike, and Milverton, famous for luxury terminals.

Enyimba City as Aba is fondly called has for so many years laid prostrate like an elephant with shattered hind legs, following massive infrastructure decay, which has become the lot of the city. The commercial city brimming with highly creative artisans became a metaphor for urban decay. Feeble efforts made by previous administrations to save the city from decay did not yield fruits, largely because they were not backed with political will. Buildings, shops and other structures that were erected on water channels through the connivance of fraudulent government officials were left untouched while the city wallowed in flood year after year. The dilapidated road network remained a sore spot for every administration.

However when he was campaigning to become the governor of Abia in 2015 Ikpeazu had promised that as an Aba boy(Nwa Aba), he would rebuild the city if given the mandate.

He started cleaning the aegean stable during his first tenure but the decay was so massive that even when his administration said that it had built over 60 roads in Aba it was like a drop in the ocean. However, as the road rehabilitation continues to spread around the commercial city, residents are beginning to appreciate the extent of work already done by the chief executive of Abia in making the city of elephant stand on its feet again.

One major factor that led Aba to a situation of yawning infrastructure deficit was that since the inception of the present democratic dispensation in 1999 roads built by successive administrations were devoid of quality. They were not built to last and therefore turned out to be nine- day wonders.

A landlord at Osusu road, Jerry Kanu said the difference between Ikpeazu and his predecessors is that while he builds durable roads others built roads with short life span. According to him, Aba residents had watched in utter dismay as roads built in the city in the past did not last beyond six months. But Ikpeazu has changed strategy.

He has adopted rigid pavement technology in his determination to give Aba residents roads that would outlive his administation.

The governor said he adopted this technique which is also called cement technology because of the decay that both the top soil and subsoil had been subjected to due to decades of neglect and piling of wastes on the roads. For instance, Osusu road was said to have been abandoned for 26 years, just like most of the roads in the commercial city. Aside from reconstructing the roads with rigid pavements, they also come with drainages and surface asphalting thereby making the roads strong and smooth to stand the test of time.

Said Ikpeazu: "Our government is committed to executing durable road projects using the cement pavement technology in Aba in particular and other necessary parts of Abia in general.

This is the standard we have set for ourselves from the inception of this administration and I am confident that whoever succeeds us will be resisted by Ndi Abia if he or she attempts to construct the 'Dubai roads' that we saw in the past in this state. The era of 'Dubai roads' is gone for good and there is no looking back". He was using the local slang that depicts something that only glitters but doesn't last long.

While inaugurating Osusu road in the course of "Kinetic Abia" project tour, Ikpeazu spoke with great confidence about the quality of roads his administration has been building in Aba. He was so sure of the quality of his roads hence he declared that Aba residents would enjoy the roads for at least 30 years. The governor asserted that he is leaving a stamp of quality assurance on Aba roads, adding that executing projects of poor quality amounts to crime against the people.

"If we fail to deliver infrastructure that will not outlive our tenure, it is criminal offence on our part," he said. In fact, Ikpeazu declared

The newly constructed Osusu road that the era of poor road projects was gone for good in Aba and the rest of Abia state, vowing that he would continue to ensure that all the projects he would leave behind would be a lasting legacy. He further stated that if he was not sure of the quality of roads he is building in Aba he would not have asked a high ranking Catholic cleric to perform the inauguration of the roads.

Ikpeazu further stated that the roads were strategic as they are linked to the Ariaria international market thereby providing easy access to the famous market from every direction in Aba. Using Osusu as example, he said that hitherto the road was impassable even for pedestrians and cyclists hence people living in that part of Aba were finding difficult to reach other areas of the city. However, with its reconstruction, Governor Ikpeazu pointed out that Osusu road has now provided easy access to Ariaria international market while the value of properties along the area traversed by the road has increased.

The state commissioner for works, Bob Ogu corroborated Governor Ikpeazu, saying that Osusu road was projected to last up to 40 years. He said that the governor has continued to revamp abandoned roads in Aba thereby giving the city a new befitting look. Ogu noted that Ama Ohafia was so bad that five years ago it was "unimaginable" that the road would ever be motorable again. But now, he said, Ikpeazu has not only reconstructed the road but did it in such way that it would take several decades for the road to go bad again.

The governor has often been criticised by opponents for not moving at appreciable speed in his Aba urban renewal programme. But his answer remains that he would not compromise quality with speed. He said that his own way of silencing and shaming his critics was to deliver high quality projects to the people. "This is the only way to vindicate myself," he said.

The contractor that handled Osusu road Uzoma Onuoha gave insight into the cause of delay in executing road projects in Aba. According to him, reclaiming the roads from heaps and layers of garbage dumped over the years was a problem of its own. He said that between 600 and 1,000 truckloads of wastes were excavated and carted away from Osusu and other adjoining roads before reconstruction could effectively be carried out.

Having apparently found his traction, Governor Ikpeazu said that he would sustain the momentum so as to cover more grounds in road construction within the dry season spell when construction is done with less disruption. He has turned his attention to other notoriously bad roads as he continues the race to rescue Aba from the scourge of infrastructure decay before the end of his second and last tenure.

Immediately after the inauguration of Osusu road the governor in appreciation of the good job done by the contractor, gave him a marching order to mobilise and commence work on Omuma

road without delay. Work has also been going on at Ngwa road, which like Omuma ranks among the worst roads in the city.

Ikpeazu indeed expressed disatisfaction over the slow pace of work on Ngwa road and ordered the commissioner for works to put the contractor handling the project on his toes or risk losing his job. All eyes are now focused on the Ndiegoro axis of Aba where, aside from Ngwa, several other road projects are ongoing, including Obohia and Ohanku roads.

The road reconstruction is going on simultaneously with the massive watershed management project aimed at providing a lasting solution to the perennial flooding in the area. Among the road projects that would soon be completed, according to the governor, are Okigwe, Immaculate, Cemetery, and ABSUTH. Ikpeazu explained that his administration is focusing on the road projects "because we have the correct understanding of the needs of our people".

With the number and quality of roads so far executed in Enyimba city, residents are beginning to appreciate the Aba boy who had assured them that he would put the fallen elephant back on its feet again. Just like the ordinary Aba residents both the organised private sector and the entire business community are also happy that things are getting better for Aba. They have all lauded the governor for his painstaking efforts in making Aba roads motorable.

The president of Aba Chamber of Commerce, Agriculture,Mines and Agriculture (ACCIMA), Mr. Lawrence Obeta said the urban renewal programme of Ikpeazu in Aba was already evident around the city. He even suggested that other state governors should come to Abia for a peer review with Governor Ikpeazu so and learn how to build solid roads. On his part the president of Abia State Market Traders Association(ASMATA), Lucky Akubueze said that traders remain grateful to the state governor for opening up road networks around Ariaria International market. He noted that commerce and industry would receive major boost.

The state commissioner for information, Chief John Okiyi Kalu said that while rebuilding the internal road network of Aba the governor is also tackling the points of entry into the city. He noted that commercial activities in Aba thrive on patronage from neighbouring states and the rest of Nigeria as well as countries in the West African subregion.

According to him, it is very important that anybody coming to Aba should drive in and out of the city on smooth road networks. "Aba is surrounded by dilapidated federal roads but we are determined to provide alternative state roads," he said. He cited the Umuaro-Ekwereazu Ngwa- Nto Edino road, a bypass constructed by Ikpeazu to provide alternative access into Aba for those coming from Akwa Ibom, following the total collapse of Aba- Ikot Ekpene federal highway. "The regeneration and reclamation of Aba is on course," Okiyi assured.

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FEATURES

Equipping Generation of Young African Creatives Ayodeji Ake reports that Iris Film Academy is bent on equipping a young generation of African creatives to inspire, create and develop a new wave in African storytelling to meet global standards

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ith the vision to inspire a new generation of visual storytellers, Iris Film academy, a 21st century film institution has begun equipping a young generation of Africans to inspire, create and develop a new wave in African storytelling.

The school was established on the philosophy of learning and practice through editing suites, state of the art classroom, hostel facilities, studio rooms, music studio facility, and suitable learning environment, among other facilities to ease learning. Courses available are cinematography, directing, screenwriting, editing and acting.

Speaking during an interview with THISDAY recently in Ibadan, Oyo state, the Provost, Iris Film Academy, Mr. Okwong Fadamana, noted that the institution was established to basically bridge the wide gap in the entertainment industry by breeding young film makers to meet global standards.

Fadamana admitted that the Nigerian entertainment industry is one of the fastest growing industries in the world today but needs more international brands which Iris Film Academy has shouldered.

He said: “In Nigeria, the entertainment industry is vast and it’s becoming the major driver of the nation’s economy and one aspect of the industry doing so well right now is Nollywood. For an industry that’s becoming vibrant, it’s important that we prepare people to accomplish greatness within the industry and project the acceptable global standard of practice. Iris Film Academy unlike some other film academies that have been established in Nigeria is paying attention on delivering global acceptable standards of film making to its students.

“I can say that there are very few film academies within Nigeria that’s doing this.

Here in Iris, we have a program that specifically allows students to interact with already established and successful film makers in Nigeria, which is a rare opportunity that you can’t find in other film schools. We give them the opportunity to discuss with successful filmmakers as a motivation.

“We do this every month where we bring in a major director, cinematographer or writer to come and speak with the students because we believe that if we give them a good trigger they will definitely build a good career for themselves. For us as an academy, we sell an acceptable global standard of filmmaking which is what we are offering to Nigerians”.

Speaking further, he insisted that despite the fact that the Nigerian entertainment industry is growing daily, there is a need to groom more young-minded innovators who will develop the industry into a global standard by training them on globally accepted film languages.

“Film has language. It’s like when you choose to be a medical doctor, yes some may teach you how but not take you through the necessary route because at the end of the day someone will call you a quack because you practice medicine in a manner that it shouldn’t be practiced. Film is systematic and it’s calculation. What we do is that we have a team of film scholars which are our lecturers within the academy that have practiced and have learnt the standards of film making which is what we are delivering to the students.

Nigerians did not invent film making, we have our aspect of storytelling, and there is culture that film originated from so we look at the canon that has been prescribed for filmmaking.

“There are rooms for people especially those in the art industry to experiment and create your own stuff but the rules are there. Till you get to know the rules so that if tomorrow you are London for example and you are a filmmaker that was trained in Iris academy, the language that will be used to communicate filmmaking to you while in London will not be strange to you because you are have been trained for the international audiences compared to someone who was jus trained for the Nigerian audience alone.

“For example within the cinematography college you are allowed to make a short

Iris Film Academy students and staff at the institute in Ibadan, Oyo State

Cross section of Iris Film Academy students in the lecture studio film with a 4k camera which is a very high camera, which is the practical aspect. The camera is also known as a writer, so we are teaching them how to write films using the camera” he said.

Fadamana projected that the institution in the next five years will be churning out students who will dominate the entertainment industry.

“We have a dream to become one of Africa’s greatest colleges to train filmmakers and how we are doing that is about graduates that we will be churning out. We ensure our graduates are already making films while in schools and these films are high standard films.

We have a policy now that we are talking about it that the first three graduates of the academy will be sponsoring their films with N500,000. Yes, in the next five to 10 years we want to become the greatest filmmaking college in Africa and this will be done with the kind of materials, our students, that we will be churning out” he said.

Speaking on challenges, Fadamana noted

that the major challenge is funding. He said the institution has been focusing on planning international tours for students for practical experiences of international film languages in different countries which is quite expensive.

“We have the economic challenge that is also facing everybody and the kind of service we render here is very expensive considering the caliber of people we bring in here to train our students. We have planned to express our ambition in them beyond the four walls of the Nigerian film industry so we intend to take some of these students outside of Nigeria to go and experience what film in other part of the world looks like.

“But we also need to look at what these people can afford to pay to achieve this.

These are some of the challenges we are having but hopefully we are just starting and we are going to eventually have partners that will make this kind of trip possible for our students to experience what they are learning” he said.

One of the students, Stephanie Necus, rated

Iris high in its performances as a reputable and distinguished film academy.

“I’m here to study filmmaking at Iris Film Academy. I’m enjoying my training here and the environment is serene enough for learning. The lecturers are friendly which makes the training fun . I came here with a lot of expectations and so far it’s been great.

They have been the best here so far and I still expect more. I will rate Iris eight over 10 and I know as time goes on they will beat my expectations” she said.

Another student, Onoko Ifeoluwa, expressed enthusiasm over Iris Film Academy’s efforts in delivering quality education with practical inclusiveness.

“Iris has been great from the first day I stepped in here. They made the processes of learning very interesting and I’m enjoying every bit of the training. I’m looking forward to referring my friends here to acquire knowledge about filmmaking. My expectation is that at the end of this program I grow to become an independent filmmaker” he said.

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WEDNESDAY JANUARY 20, 2021 •T H I S D AY

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

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REPO 0.83 0.50

CALL 1-MONTH 3-MONTH

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Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

D E C E M B E R

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

667.91% -0.04% - 11.24%

S & P INDEX 1/4 TO DATE YEAR TO DATE

3 1 ,

2 0 2 0

6.58% 38.81%

EXCHANGE RATE N379/1US DOLLAR* ̩

Quick Takes Mauritius, Morocco Join AfDB Index

MANAGEMENT RETREAT

L-R: Group Managing Director, Nosak Group, Thomas Oloriegbe; Executive Director, Investment Banking, First Ally Capital, Oladipupo Ogunbiyi; and Group Head of Strategy, Nosak Group, Deji Rahman, during the organisation’s 2021 group management retreat held in Lagos…recently

CBN: FG’s Revenue Dropped by 18% to N616bn in October Stories by Obinna Chima At N616.35 billion, Nigeria’s gross federally-collected revenue in October 2020 reduced by 18.3 per cent, compared with the N729.14 billion recorded the previous month.

The Central Bank of Nigeria (CBN) revealed this in its monthly economic report for October 2020, which was posted on its website yesterday.

The amount collected in October, according to the report, was below the budget benchmark by 27.2 per cent.

In addition, it was a reduction by 33 per cent, when compared with the level recorded in the corresponding period of 2019.

The development was attributed to declines in both oil and non-oil revenue components.

It showed that the federal government’s retained revenue

ECONOMY was N274.48 billion in October 2020, indicating a drop of 6.6 per cent and 52.8 per cent relative to the levels in the preceding month and corresponding period of 2019.

“Driven by the rise in personnel costs and capital releases, provisional aggregate expenditure rose to N725.70 billion from N712.30 billion in the preceding period. Consequently, estimated fiscal deficit in October widened to N451.22 billion, from N418.50 billion in September 2020.

“Total federal government debt outstanding as at end-June 2020, was N31,008.64 billion; with domestic and external debt components accounting for 57.6 per cent and 42.4 per cent of the total debt stock, respectively.

“Due to the slow pace of

global economic recovery and the resurgence of COVID-19 cases in some European, Asian and Latin American countries, which depressed global demand and dampened crude oil prices, the federally collected revenue in October 2020, amounted to N616.35 billion, reflecting a shortfall of 27.2 per cent relative to the N846.84 billion budget benchmark,” it stated.

According to the report, decline in receipts from petroleum profit tax (PPT) and royalties, were attributed to the decrease in oil revenue in October 2020.

Relative to the budget benchmark and the corresponding period of 2019, oil revenue fell by 41.8 per cent and 50 per cent, respectively.

“Although, at N96.53 billion, domestic crude oil and gas sales rose substantially by 103.6 per cent relative to receipts in

September 2020, it was less than the collections in October 2019. The value of crude oil and gas exports fell by 64.8 per cent below its level in the corresponding period of 2019,” the report added.

In the review month, economic activities improved following increased consumer demand that led to expansion in production, propelled by the special financial interventions by both the fiscal and the monetary authorities.

It stated that the relative improvements ensured that the Purchasing Managers’ Index (PMI) of both manufacturing and non-manufacturing tended towards the 50.0 per cent threshold.

“The prices of most agricultural export commodities maintained an upward trend in October 2020. Provisional data indicated Continued on page 24

Rewane: Heirs Holdings’$1.1bn OML 17 Deal to Boost Job Creation The Managing Director of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane has said Heirs Holdings’ (HH) $1.1 billion investment in the acquisition of the strategic OML 17 from Shell, ENI and Total, will lead to job creation, transfer of technology and improved management skills.

Rewane, who said this during a chat on BBC’s ‘NEWSDAY,’ noted that the investment serves the objective of economic patriotism. “First and foremost the profit is retained by Nigerians, so that helps. Everywhere across the world, sovereign nations and host communities are trying to have a skin in the game, rather

ECONOMY than having the structure where the multinationals come in and get all the revenues out.

“So, it serves the objective of economic patriotism on one hand and also it helps to create jobs and transfer of technology and management skills. That is why you select the kind of Nigerian partners you want, those that have capacity. Heirs Holdings have shown that they have a track record,” he explained.

According to him, the new owners of the assets are better positioned to deal with whatever challenges that may arise in the

host communities because they have a better knowledge of the terrain and are expected to have a better relationship with members of the communities.

“They are probably better at dealing with it. Heirs Holdings actually belongs to people who are from the Niger Delta, so you have what they call the son of the soil credentials which helps you to negotiate better. But not all the time. In any case, they have some risk insurance which would help you. At least they have taken the first step and the longest journey in the world starts with the first step,” Rewane said.

Responding to a question on why the valuable asset

was sold by the multinational, the economist described the transaction as the optimisation of assets by the multinationals.

He explained that there are three types of assets in Nigeria, which he listed to include land and swamp, offshore and deepwater.

“In the offshore and deep water, what accrues to the multinationals is much higher than that on the land and swamp.

Besides, the land and swamp is also full of risks because of restlessness and activities of the militants.

“So, what has happened Continued on page 24

The African Development Bank (AfDB) has announced the addition of two new countries - Mauritius and Morocco - to its Bloomberg African Bond Indices (ABABI), marking a steady progress in the Bank’s efforts to deepen the continent’s local currency bond market.

The African Development Bank administers the ABABI, a family of African bond indices launched in February 2015 and calculated by the independent, global index provider Bloomberg.

At the launch, the indices included Egypt, Kenya, Nigeria, and South Africa. Botswana and Namibia joined in October 2015, and Ghana and Zambia in April 2017.

According to a statement, effective January 1, 2021, Mauritius and Morocco became members of the ABABI. “This is a positive development as the inclusion of Mauritius and Morocco,twoofAfrica’sbetter-ratedissuers,willimprovetheoverall credit quality of the ABABI, which now captures close to 90 per cent oftheoutstandingamountofAfricansovereignlocalcurrencybonds,” Director of the Bank’s Financial Sector Development Department, Stefan Nalletamby said.

Nalletamby,notedthatinthecurrentenvironment,theABABIindices are a reliable tool for international investors to measure and track African sovereign bond markets.

“This will be even more relevant following the COVID-19 crisis as sovereign debt managers, who will need to further diversify their local currency funding instruments, will also need to adjust their strategies, enhance transparency and widen their fixed income investor base, given the increased financing needs of the economies.”

NBS Bank Launches e-Commerce Platform

NBSBank,acommercialbankinMalawihaslaunchedane-Commerce platform, powered by Network International, the leading enabler of digital commerce across Africa and the Middle East.

The implementation of Network International’s N-GeniusTM Online paymentgatewaywouldenableNBSBanktoofferMalawiansmalland medium enterprises (SMEs), large corporations, public institutions and individuals a fast and secure way to enter the rapidly growing e-commerce market in Malawi.

Network International has been at the forefront of driving digital payments acceptance across Africa and the Middle East, offering end-to-end payment solutions to a growing client base in over 50 countries.Withthecapabilitytoenabledigitalcommercetransactions for merchants and public organisations through the N-Genius Online payment gateway, NBS Bank and Network International will help drive Malawi’s goal of becoming a cash-lite economy.

The service is another example of the Bank investing to support the growth of its customers and the Malawian economy as a whole, reinforcingitspositionastheleadinginnovatorinthefinancialservices sector.

Chief Executive Officer, NBS Bank, Malawi, Kwanele Ngwenya, said: “E-commerce is the fastest-growing form of commerce in the world.

Understanding its role as a key driver of growth for our business, we have launched a world class e-commerce platform with leading payments solutions provider, Network International.”

Turkey Slaps Ad Ban on Twitter

Ankara has imposed advertising bans on Twitter, Periscope and Pinterest after they failed to appoint local representatives inTurkey under a new social media law, according to decisions published on Tuesday.

According to Reuters, under the law, which critics say stifles dissent, social media companies that do not appoint such representatives are liable for a series of penalties, including the latest move by the Information and Communication Technologies Authority (BTK).

The law allows authorities to remove content from platforms, rather than blocking access as they did in the past. It has caused concern as people turn more to online platforms after Ankara tightened its grip on mainstream media.

Thelatestdecisionsinthecountry’sOfficialGazettesaidtheadvertising bans went into effect from Tuesday. Twitter, its live-streaming app Periscope, and image sharing app Pinterest were not immediately available to comment.

“At the FIRS, we are paying greater attention to tax audit in general and transfer pricing audit in particular in order to improve the level of tax compliance in the country”

Executive Chairman, FIRS,

Mr. Muhammad Nami

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BUSINESSWORLD CBN: FG’S REVENUE DROPPED BY 18% TO N616BN IN OCTOBER, that the all commodity price index stood at an average of 85.50 index points in October 2020. This represented a 3.2 per cent increase above the level in September 2020.

“The Bank continued with intervention schemes in the real economy to enhance credit delivery, bolster productivity and growth, as well as cushion the effect of the prevailing demand and supply shocks.

“Nigeria’s crude oil production and export decreased, monthon-month, due to the country’s commitment to compensate for it’s over production in May-June 2020. In October 2020, Nigeria’s crude oil production, including condensates and natural gas liquids, recorded an estimated decline of 0.01 million barrels per day (mbpd) or 0.70 per cent, monthon-month, to an average of 1.50 mbpd.”

REWANE: HEIRS HOLDINGS’ $1.1BN OML 17 DEAL TO BOOST JOB CREATION

was a rationalisation of the assets because of the oil price dropping and also it meets the other objective of getting local content. So, you have Heirs Holdings, Tony Elumelu Foundation and Transcorp, which are very reputable Nigerian investors who have the resources and they have actually paid for this. The total amount was $1.1 billion and this is a good move, both for the investors, the government and the multinationals,” he said.

Analysts had described the deal as a welcome light on the opportunities that are available in Nigeria, especially given the increased pessimism globally and in Nigeria.

They highlighted the credentials of Heirs Holdings as a committed indigenous business and the presence of Transcorp, Nigeria’s largest listed conglomerate, with over 300,000 shareholders in the transaction.

According to them, the deal further demonstrates the ability of the Tony Elumelu-led Heirs Holdings to spearhead Africa’s economic resurgence amidst the calamity posed by COVID-19 pandemic.

NEWS

AfCFTA: Ecobank Pledges to Facilitate Payments for Customers Obinna Chima

to expand your manufacturing capacity to be able to export across West Africa and also other African countries, not just looking at Nigeria as a market alone.

“And as you change your demand forecast, you need to now improve your capacity to produce and that will mean importing new machinery to expand your manufacturing base, develop bigger market

The Group Chief Executive Officer, Ecobank Transnational Incorporated (ETI), Mr. Ade Ayeyemi, has said that the pan-African banking group is positioned to facilitate payments across Africa as the implementation of the African Continental Free Trade Area Agreement (AfCFTA) commences.

Ayeyemi, who was quoted in a statement to have made this assertion during an interview recently, pointed out that Ecobank has been able to effect international payment across the 33 countries where it operates on the continent through its Rapid Transfer platform.

He reiterated that the bank’s platform could be scaled to accommodate other African countries under the AfCFTA based on their respective regulations.

According to the Ecobank Group Chief, the banking group is one of the key supporters of the AfCFTA which he believes will be of great benefit to both the continent and customers of the bank.

“With this Pan-African exposure, the governments and our customers will re-evaluate their businesses to efficiently take charge of bigger opportunities.

So, if you manufacture goods in Aba for the Nigerian market, you can now start thinking of how

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

ËÒÏÏ× ÕÓØÑÌÙÖß (Advertising) Correspondents

ÒÓØÏÎß äÏ (Aviation) ÜÙ×ÙÝÏÖÏ ÌÓÙÎßØ (Maritime) Ë×ÏÝ ×ÏÔÙ (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

ß×Ï ÕÏÑÒÏ (Money Market) ÙÝË ÖÏÕÒßÙÑÓÏ (ICT) Peter Uzoho (Energy)

products.

“For instance, there is no need for Nigeria to import rubber from Malaysia when rubber is being exported by Côte d’Ivoire. It is better within the African space.

So, there is a whole range of businesses that we are having conversations with our customers, the governments and the African Union, because of our pan-African presence.”

The AfCFTA which came into effect this January, aims at creating a single African wide market for goods and services.

It will pave the way for rapid dismantling of impediments to cross-border trade leading to free movement of business, persons and investments across the continent, thus leading to the establishment of the Customs Union.

REWARDING CUSTOMER LOYALTY

L - R: Marketing Communications Manager, Infinix Nigeria, Mr. Kevin Olumese; Grand Prize Winner of Infinix Mega Jackpot Promo, Taofiq Olanrewaju; and Marketing Manager, Infinix Nigeria, Mr. Yemi Adewumi, at the presentation car gift (2019JAC) to the winner in Lagos... recently ETOP UKUTT

Utica Capital Commences Operations Obinna Chima Utica Capital Limited, a firm recently licenced by the Securities and Exchange Commission (SEC) as a Funds and Portfolio Manager has commenced operations.

The company is the brainchild of Mr. Ola Belgore, who is the Chief Executive Officer. According to Belgore, Utica Capita was set up to provide value-adding asset and wealth management services to its clients.

“Given the low interest rate environment, we have created the Utica Fixed Rate Investment (U-FRI) so as to give you superior interest rates on your money – whether naira or dollars.

“For USD investment, we offer you a fixed rate of three per cent per annum on your money. So you don’t have to leave your money idle in dorm account,” Belgore explained, while urging members of the public to take advantage of the offers.

Prior to the creation of Utica Capital, Belgore was the Managing Director of Afrinvest Asset Management.

Belgore has accumulated several years of diverse experience in stockbroking, asset management, portfolio advisory and business development. His career started in TRW Stockbrokers Limited in 2003 and thereafter moved to Meristem Securities Limited in December, 2006.

He co-pioneered the Meristem

Wealth Management subsidiary in 2008 where he served as the Head of Wealth Management before his stint as the Coordinator of Meristem Business Associates in 2012 and later the head, Group Business Development, overseeing the business drive of 5 different companies in the financial sector.

Belgore graduated from the University of Lagos with a Bsc degree in Microbiology. He also bagged an MBA in International Business from the prestigious

Lincoln University, Oakland, California, USA. He is a Chartered Wealth Manager (CWM) and a member of both American Academy of Financial Management (AAFM) and Nigeria Institute of Management (Chartered) NIM. He skilled in Business Development, Marketing, Business and Social Networking and has attended several training programs including the Jeff & O’Brien training on Investment and Portfolio Management.

Survey Sees Accountancy, Finance Profession as ‘Broadly Inclusive’ Oluchi Chibuzor

Group Business Editor

and hire more people,” he said.

The Group CEO was optimistic that the introduction of the AfCFTA would curb the regulations and government policies limiting the flow of foreign exchange.

“Banks will work with other banks like Afreximbank to provide a swift payment platform as Africa will be the first market for most African

Sixty-one per cent of global respondents to a survey amongst accountancy and finance professionals indicated that they work in an environment free from harassment and discrimination.

The Association of Chartered Certified Accountants (ACCA) revealed this in a new report titled: ‘Leading Inclusion,’ that was obtained yesterday.

Through research questions and roundtable discussions, ACCA gauged global opinions from 10,000 ACCA members and

future members, including 264 in Nigeria about a wide range of issues relating to diversity and inclusion, starting with the question ‘Are we truly a profession that is open to all?’

The survey showed that Nigerian respondents revealed 87 per cent believed this to be the case, one of the highest results in Africa along with colleagues in Ghana (90 per cent) and Zambia (81 per cent). A similarly high score – 87 per cent - believe the profession was inclusive.

It stated: “Fifty-five cent of Nigerian respondents said they

work in an environment free from harassment and discrimination, with 36 per cent saying this was partially the case.

“Seventy-five per cent in Nigeria saw a link between diversity and inclusion policies to organisational success, with 53 per cent confirming benefits come from better decision making and 44 per cent said having a variety of different perspectives.

“Thirty-nine per cent said the profession has a diversity issue that needs to be addressed. And when asked if as individuals they understand the steps that

could be taken in the workplace to promote diversity and inclusion, 44 per cent said ‘yes’ and 42 per cent said ‘partially’ – just 12 per cent said ‘no.” The report concluded that there was no basis for complacency, with 79 per cent of Nigerian respondents saying the profession should do more to promote diversity and inclusion amongst its membership.

Commenting on the survey findings, the Chief Executive, ACCA, Helen Brand said: “The foundation of ACCA in 1904 was to create a professional body for accountancy professionals

that was open to all. We take pride in being the first body to admit women members as early as 1909, and to being a pioneer for other notable milestones in the profession’s evolution.

“The value of inclusion remains at the core of everything that we do. ACCA’s commitment in December 2020 to the UN Sustainable Development Goals is one aspect of this. Goals 5 and 10 particularly speak to aspects of diversity and inclusion and how we need to work together to address some of the fundamental issues we face.”

UK Devt Finance Institution, TDB Seal $100m Deal CDC Group, the United Kingdom’s development finance institution and impact investor has announced a $100 million debt commitment to the Eastern and Southern African Trade and Development Bank (TDB).

According to a statement yesterday, the investment strengthens TDB’s capacity to

provide additional amounts of credit to businesses in need of short-term financing.

It further stated that CDC’s commitment supports the import, export and production of strategic inputs and agricultural commodity goods in the 22 member states where TDB operates, with a strong focus on

those economies with the most challenging investment climates.

The facility provides further capital for TDB’s new and existing clients emerging from the economic challenges brought by the COVID-19 crisis.

“The commitment will provide top-up loans and

much-needed capital that safeguards jobs and protects trade in the region. This support comes at a time when access to finance for local companies and importers is more limited across the African continent.

“This funding cements a well-established partnership between CDC and TDB. Since

2016, CDC has signed with TDB three loan facilities, and a master risk participation agreement that facilitates trade flows in the region where TDB operates.

CDC’s patient capital approach and focus on supporting frontier African markets means it is well suited to support TDB’s development mission.

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Stocks as Hedge against Inflation Goddy Egene writes that given the gains being recorded in the equities market, discerning investors could invest in stocks to hedge against the rising inflation rate the hit 15.8 per cent in December 2020

L

ast week the National Bureau Statistics (NBS) released the consumer price index report, which showed that the headline inflation rose to 15.8 per cent in December 2020. The inflation rate, which was an increase from the 14.9 per cent recorded in November, 2020, was said to be the highest level of headline inflation since December 2017, and the largest increase (98bps) since January 2012.

This rising inflation is a great concern for all stakeholders- consumers, manufacturers and investors among others. For instance, for investors to enjoy positive returns on their investments, that returns must be above the headline inflation of 15.8 per cent. And considering the prevailing economic conditions, it is difficult to come across such investments that will deliver returns above the inflation.

However, the equities can still be seen as a place where discerning investors could stake their funds and come out with positive returns, though with equally high risks of losses as well. As a market with high rate of volatility, the stock market carries a very risk and high level of returns on investments as well.

The stock market closed 2020 as world’s best-performing stock market by Bloomberg’s ranking with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) returning 50.03 per cent.

Apart from the NSE ASI returning 50.03 per cent, which is well above the inflation, some individual stocks delivered returns above 100 per cent. A total of 48 stocks closed the last year higher with 11 of them growing their share prices by over 70 per cent. The top 10 best-performing stocks for the year were: Neimeth International Pharmaceuticals Plc with share price growing by 259.68 per cent; FTN Cocoa, 230 per cent.

Japual Gold & Ventures Plc appreciated by 210 per cent, while share prices of Airtel Africa, Livestock Feeds Plc, BUA Cement Plc and United Capital recorded gains of 184.98 per cent, 178 per cent, 121 per cent and 96.25 per cent in that order.

Other to price gainers included: May & Baker Nigeria Plc (81.9 per cent); FCMB Group Plc (80 per cent) and Vitafoam Nigeria Plc (77.2 per cent). There were other counters that appreciated more than 50 per cent last year.

Also, two weeks into 2021, the stock market has maintained a positive performance with some stocks fetching gains as a high as 91 per cent, a comfortable returns for those wanting to beat inflation.

Year-to-date as at Monday, Japaul Gold & Ventures Plc has garnered 91 per cent. Mutual Benefits Assurance Plc has chalked up 64.2 per cent, while Regency Alliance Insurance Plc has gained 63.6 per cent.

Champion Breweries Plc, Coronation Insurance Plc, Livestock Feeds Plc and AXA Mansard Insurance Plc have appreciated by 58.8 per cent, 53.8 per cent and 46.6 per cent respectively.

Others that have appreciated significantly above the inflation include: Ardova Plc (45.3 per cent); Royal Exchange Plc (42.3 per cent); Niger Insurance Plc (40 per cent);Linkage Assurance Plc (38 per cent); Veritas Kapital Assurance Plc (35 per cent); Seplat Petroleum Development Company Plc (31.7 per cent); BOC Gases Plc (31.1 per cent) and Chams Plc (30.4 per cent).

No doubt the bullish performance being witnessed in the stock market is attractive enough for investors to use it as a hedge against the rising inflation.

A position supported by a stockbroker and Chief Executive Officer of Sofunix Investment and Communications Limited, Mr. Sola Oni, who said that an investor that has a long-term view can use stocks to hedge against inflation.

“Stocks tend to grow in value in the long term while holding a diversified portfolio such as 60/40(stock/bond) has potential to protect an investor from declining purchasing power.

Value stocks, inflation-protected bonds, and real estate are silver bullets that attack inflation. A value stock refers to companies whose shares trade below intrinsic value otherwise called undervalued stocks.

“The security is identified by features such as high dividend yield and low price-to- book ratio (P/B ratio). The companies are noted for superior

NSE building return. They are large and well-established.

This is different from growth stocks which are shares of the companies that are expected to outperform the market over time because of their future potential.

“But growth stocks may refrain from paying dividends as it will reinvest retained earnings for expansion. An investor’s choice of growth or value stock depends on his investment objective, time horizon and risk tolerance,” he said.

Oni explained that under the current challenges in the global financial market, inflation-linked bonds and Exchange Traded Funds (ETFs), a basket of securities tradable on the exchange can play vital part in protecting portfolio’s value.

While investors consider using the stock market to hedge against inflation, there are concerns whether or not the market would be able to sustain the bullish performance over time.

According to some market analysts, all the factors that led to the impressive performance in 2020 are still present and would continue to keep the market in the bulls’ territory going forward. For instance, analysts at Investdata Consulting Limited, said the market would likely maintain the positive trend until end of 2020 full year earnings reporting season.

They based their optimism on the fact that for now, there is no other investment windows that has returns and yields that can match the dividend yields of some listed companies still selling below their fair value.

The Chief Research Officer of Investdata Consulting Limited, Mr. Ambrose Omordion, said the market is set to continue to rally owing to high cap stocks rallying on the strength of positive sentiment, which is of interest to many investors, considering the weak economic fundamentals.

According to him, the 2021 outlook is mixed in the sense that it looks positive but dicey, considering the second wave of Covid-19, despite the ongoing discovery of more vaccines and its distribution.

“Government should make policies to encourage more listing to deepen the market in order to play its role of driving the economic development by providing platform for long borrowing, regulators should protect investors and collaborate with research companies to provide proper investment and financial education to attract more participants to the market,” he said.

He explained that if the market is to create jobs for Nigerian youths by engaging in share trading with their little funds with the aid of

technology and remote trading, government should reduce cost of trading or transaction to encourage and attract more investors.

Also, analysts at Cordros Securities said the mix of elevated liquidity, low interest rates, attractive dividend yields, and earnings recovery argues in favour of an extension of the equity bull market into 2021.

According to them, the performance in the fixed income market will be a tale of two halves, saying they expect yields to remain in the low single-digit territory through first half (H1) of 2021 with a moderate uptrend to account for reduced market participation as investors seek yields in other asset classes.

“However, in the later part of the year, we believe that a combination of weak market participation, revision of monetary policy to a tightening cycle, widening fiscal deficit, and fragile macroeconomic environment will lead to an increase in yields over 2021.

“Similar to the fixed income market, we also expect it to be a tale of two halves for Nigerian equities in 2021, with the market delivering further upside in the first half of 2021 before retracing slightly in the second half on an expected reversal in fixed income yields.

“The sources of risks remain plenty, the macro story remains uninspiring, and valuations are elevated,” they said.

Looking at some sectors of the market, the analysts said they are overweight on Nigerian banks as they expect a combination of strong dividend yield expectations, and resiliency of sector players into the FY-21 financial period to support price performances.

According to them, in Nigeria’s cement sector, volume growth in 2021e will be modest due to the lingering impact of the pandemic on government finances and household income.

“Although the stiff competitive landscape coupled with soft industry conditions will deter industry players from raising prices substantially, we still see scope for marginal increases in prices,” they said.

Cordros Securities noted that for consumer staples, it’s a mixed bag, while agriculture stocks are likely to benefit from improved volumes from new maturities.

“However, the border reopening is a significant risk to pricing and by extension top-line growth.

Brewery stocks are expected to record better volume growth in 2021FY, mostly due to the low base from 2020FY. “However, the ability of brewers to increase prices above inflation

remains constrained. Surging inflation and FX illiquidity will also put pressure on input costs and margins,” they said.

The analysts added that on Telecoms, there is a potential negative impact on Q1-21 revenues and earnings if the Nigerian Communications Commission (NCC) does not extend the NIN registration deadline and lines are disconnected.

In the opinion of the President of the Chartered Institute of Stockbrokers (CIS), Mr. Olatunde Amolegbe, the positive trend of 2020 to continue into the 2021, noting, however, investors should ensure that they speak to their certified stockbrokers before taking any decisions.

Omolegbe had said the most gratifying fact about 2020 performance was that it was actually backed by fundamental performances of our quoted companies.

“The performance also underpins the need for improvement in liquidity flow to the market through various sources that we at the CIS have been advocating in the last few years,” he said.

According to him, the reduction in interest rate and fixed income yield has been a net positive for quoted companies that are now able to borrow cheaper to finance their operations as well as for market operators that can see renewed interest in the financial markets.

“The NSE’s performance is also an affirmation of our market’s increasing correlation with other global market markets,” he said.

Commenting, Oni said demand for equities has strongly enhanced market upswing as yields on other asset classes, especially fixed income securities are low.

“The Central Bank of Nigeria’s policies that encourage credit to the real sector in an environment of low interest rate are expected to be sustained. We expect the federal government to utilize the market to finance N5 trillion budget deficit for 2021 through the market. States governments can also take advantage of the capital market to mobilise funds for development projects. This will have multiplier effects on transaction on the exchange,” he said.

He noted that if the introduction of vaccine to combat COVID-19 is pursued vigorously, it will enhance operations of quoted companies, boost return on investment (ROI) and attract more investors into the market.

“However, it is hoped that security issues would be addressed to reduce country risk while another wave of COVID-19 pandemic shall not scuttle all projections,” he said.

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Heirs Holdings’ Audacious Acquisition of OML 17 The bold move by Heirs Holdings which manifested in the successful acquisition of a 45 per cent participating interest in Oil Mining Licence17, underscored the winning spirit of Nigerian indigenous companies, writes Peter Uzoho

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ast week, Africa’s conglomerate and strategic investor, Heirs Holdings, in partnership with its affiliated company, Transnational Corporation of Nigeria Plc (Transcorp), announced its acquisition of a 45 per cent participating interest in Nigerian Oil Mining Licence (OML 17) and related assets, in a $1.1 billion investment, throughTNOG Oil and Gas Limited, a related company of Heirs Holdings and Transcorp, from the Shell Petroleum Development Company of Nigeria Limited,Total Exploration and Production Nigeria Limited and ENI (Agip).

With the deal, TNOG is now the sole partner with the Nigerian National Petroleum Corporation (NNPC), which retains its 55 per cent stake in the asset and the deals means that the Heirs Holdings Group will now take over operatorship of OML 17, demonstrating the strength and quality of the industry team assembled by Elumelu’s group.

The transaction has been described as one of the largest oil and gas financings in Africa in more than a decade, with a financing component of $1.1 billion, provided by a consortium of global and regional banks and investors.

The investment demonstrates a further important advance in the execution of Heirs Holdings’ integrated energy strategy and the Group’s commitment to Africa’s development, through long term investments that create economic prosperity and social wealth. Heirs Holdings’ heritage and approach to business fundamentally underscores its commitment to inclusive development and shared prosperity with its host communities. Heirs Holdings is fully invested in the development of the Niger Delta region.

OML 17 is a large onshore licence within the NNPC/Shell JV with production capacity of 27,000 barrels per day equivalent per day and 2P reserves of 1.2 billion barrels of oil equivalent and additional one billion barrels of oil equivalent resources of further exploration potential.

Shell has 30 per cent stake in the asset, Total holds 10 per cent while Eni holds five per cent. The block includes the northern half of Port Harcourt, which is the largest city in the Niger Delta. It extends from the low-lying swamp northwards into drier terrain where the operating conditions are easier.

There are 15 oil and gas fields on OML 17, six of which are producing. Crude is exported through the Trans-Niger Pipeline, to the Shell-operated Bonny oil and gas terminal. The largest producer on OML 17 is Agbada.

Deal Facilitation In brokering the strategic $1.1 billion investment deal, Heirs Holdings was advised by world class investment bankers including Standard Chartered Plc, which played as Global Coordinator, and United Capital Plc, with a syndicate of lending institutions including Afreximbank, ABSA, Africa Finance Corporation, Union Bank of Nigeria, Hybrid Capital, and global asset management firm Amundi. The deal also involved Schlumberger as a technical partner, as well as the trading arm of Shell as an offtaker.

SPDC had in a statement, announced the completion of the sale of its 30 per cent interest in the OML 17 and associated infrastructure to TNOG for a consideration of $533 million. The completion followed the receipt of all approvals from the relevant authorities of the Federal Government of Nigeria.

SPDC said it was committed to the transfer of the stake in an “orderly and responsible manner” and it would “provide a sustainable long-term plan to unlock the asset’s full potential”.

The Managing Director, SPDC and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor, said that, “as with previous divestments, we will facilitate a successful transition to new ownership. Shell has been in Nigeria for over 60 years and remains committed to a long-term presence here.”

Elumelu’s Pledge Delighted by the landmark investment record, the Chairman of Heirs Holdings, Mr. Tony Elumelu, expressed satisfaction and pride in closing the deal, as a Nigerian and Niger Delta indigene, stressing on its importance to the nation’s economy and to the life of the asset’s host community.

According to Elumelu, “As a Nigerian, and more

provisions of the Local Content Act through MOUs with fronts and briefcase operators.

“Local content is a 360 degrees commitment that applies to the Nigerian operator and the service company equally.”

Expressing further, his joy at the purchase of such a huge asset by a Nigerian investor, Ene said he was confident that Elumelu recognised the strategic importance of the effort.

He said Elumelu, a Delta-born billionaire, “has always been in the forefront of Nigeria and Africa first. These are interesting times.”

Elumelu particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria.”

Heirs Holdings has been at the forefront of Elumelu’s Africapitalism philosophy, championing the private sector’s leadership in developing Africa.

TNOG Oil and Gas, HH’s latest investment and addition to a fast-growing and successful group of investee companies across energy, financial services, hospitality, real estate, and healthcare sectors, will create thousands of jobs for youths nationwide, expanding its current 30,000 employee database across its portfolio companies.

TNOG Oil and Gas will also extend Heirs Holdings’ “doing good, doing well” commitment to developing the communities of its operations through pillars of entrepreneurship, youth devel-

This means that we are seeing more indigenous participation in the oil and gas upstream which is good because when we talk about building an economy that is inclusive it is also about the degree with which the indigenous investors are also involved in the economy especially in some critical sectors of the economy

opment and community building, pursuing an indigenous approach to catalysing development in host communities, an insider at Heirs Holdings told THISDAY. Oil Industry Hails Move Recognising the importance of such audacious investment by a Nigerian indigenous company, oil and gas experts under the aegis of Petroleum Technology Association of Nigeria (PETAN), described the acquisition of OML 17 by the Elumelu-led conglomerate as a bold strategic move for the oil and gas industry in the country.

PETAN’s President, Mr. Emeka Ene, said the bold move to acquire OML 17 was, “certainly strategic from the industry perspective.”

Ene said three mega-trends have emerged from the impact of the global pandemic including deglobalisation, capital flight and digitalisation.

He added: “While we in Africa and Nigeria specifically may appear helpless, this scenario presents opportunities to grow from the inside-out.

“With this context investment in idle assets becomes an essential path to generating near team growth in an industry that has flat-lined over the last five years.

“Nigeria was only able to attract less than five per cent of the over 74 billion dollars in FDI that flowed into Africa. The answer lies within and the OML 17 acquisition creates new opportunities for growth.

“The major concern is that the Nigerian investor recognises that the acquisition places a burden to utilise 100 per cent local services companies to develop the asset and not fall into the trap of believing that multinational companies are the way to go when Nigeria companies large and small have proved competence, delivered technology and operational excellence even at times of grave economic and environmental constraints.”

He noted that rather than seek credible companies locally, there “is a tendency to circumvent the

Boosting Investor Confidence “Heirs Holdings’ ability to bring together global and African investors, in one of the biggest African deals of the last 10 years, is a tribute to its professionalism and determination. It reassures global investors of the country’s untapped investment opportunities and affirms the company’s commitment to improving lives and transforming Africa,” one analyst said.

Also, some economic policy analysts who spoke with THISDAY on the deal, said Nigeria would benefit significantly from the billion dollar oil and gas investment, saying the Del would renew investor confidence in the nation’s economy.

They specifically described the investment as a positive affirmation of confidence in the robustness of the Nigerian economy.

The analysts described the deal as a welcome light on the opportunities that are available in Nigeria, especially given the increased pessimism globally and in Nigeria.

They highlighted the credentials of Heirs Holdings as a committed indigenous business and the presence of Transcorp, Nigeria’s largest listed conglomerate, with over 300,000 shareholders in the transaction.

According to them, the deal further demonstrates the ability of the Tony Elumelu-led Heirs Holdings to spearhead Africa’s economic resurgence amidst the calamity posed by COVID-19 pandemic.

The analysts also said the acquisition again shows Heirs Holdings’ strategic intent in relation to the Nigerian energy sector – to ensure that Nigerian natural resource assets are deployed to Nigeria’s power network, driving broad-based economic growth.

Speaking with THISDAY, the Head of Research at Agusto Consulting, a pan-African credit rating agency, Mr. Jimi Ogbobine, stressed that looking at the wider issues in the economy as well as the disruptions caused by the COVID-19, the transaction was good for the deal book.

He said: “It shows that COVID-19 has not shut down the deal books. Since March last year, the number of deals in the oil and gas slowed down and so this deal was a good announcement coming at the beginning of the year.

“Secondly, this is a first major private sector acquisition in President Muhammadu Buhari’s second term and it think it is very good for the Nigerian oil and gas space. This will improve confidence in the oil and gas sector and we hope to see more deals in the later part of this year.”

On his part, the Director General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Muda Yusuf, said the deal has shown that more indigenous companies are now capable enough to participate actively in critical sectors of the nation’s economy. “This means that we are seeing more indigenous participation in the oil and gas upstream which is good because when we talk about building an economy that is inclusive it is also about the degree with which the indigenous investors are also involved in the economy especially in some critical sectors of the economy.

“So it’s a very good thing and I think it is something that the government should encourage in every possible way to see that without prejudice to the importance of foreign investment, it is good to encourage our domestic investors in as many sectors as possible especially this sector that is usually dominated by foreign investors. So it’s a very good development,” Yusuf said.

Transcorp is one of the largest power producers in Nigeria, with 2,000 MW of installed capacity, through ownership of Transcorp Power Plant and the recent acquisition of Afam Power Plc and Afam Three Fast Power Limited. Transcorp closed the $300 million Afam acquisitions in November 2020.

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Ihua: Nigeria Requires Data to Accomplish Developmental Objectives Executive Director, Africa Polling Institute, Prof. Bell Ihua, in this interview speaks about the crucial role of primary data in improving Nigeria’s development outcomes, arguing that the country currently needs data more than ever in surmounting its socioeconomic challenges, James Emejo brings the excerpts

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first question we asked was whether or not Nigerians are proud of being Nigerian. I am pleased to inform you that categorically the survey showed that 91 per cent of Nigerian said they are truly proud of being Nigerian and this 91 per cent cuts across the various demographics of age, gender, urbanisation, religion and geo-political zones. However, when you come to the subject of how much trust they have in the Nigerian state, we found that the majority, 67 per cent of Nigerians said that they have little or no trust at all in the Nigerian state, compared to only a third, 33 per cent who said they had some level of trust for the state. So, what we see here is a sweet-bitter relationship, where on one hand citizens are proud of being Nigerians, but on the other hand the level trust they have in the Nigerian state is limited.

Another interesting question we asked in the study was what Nigerians think they have benefitted from the country in the last five years. It will interest you to know that 75 per cent of Nigerians we spoke to said they had benefited absolutely nothing from the country this past five years. This is public opinion, this is how they feel, however, from the remaining 25 per cent, we had seven per cent who said they have experienced a bit of improved security, and only five per cent who said they have benefited from some of the government’s empowerment programmes like N-Power, Home-Grown School Feeding Programme, and the Market Moni, Trader Moni schemes. Again, this tells you about what we have been saying that the impact of the national social investment programme is still minimal and needs to be scaled up massively. A lot needs to be done to shorten the gap between the haves and have-nots, and of course the government and the governed, especially in the areas of providing a sense of belonging for all Nigerians irrespective of tribe, tongue and religious differences. It is when citizens have that sense of belonging that they can give up their life for the country. You know when you go abroad, like in America, there’s something they call the American dream; but in this country, do we have the Nigerian dream?

We also need to have the Nigerian dream; something that binds us together as a nation and makes everyone want to give their all for the nation.

our institute has been quite active in the social research space producing primary data for the country; what role do you believe data should be playing in helping to shape a better future for Nigeria?

Yes, you’re absolutely right, Africa Polling Institute has been actively involved in generating important social and opinion research data in Nigeria for a while now.

And this is because of how important we consider the role of data. No country can grow beyond the level of its intellectual capacity and data generation. The role of data cannot be over emphasised. The world is getting more complex by the day, and world leaders are having to confront much more difficult challenges today that they ever faced 20 or 30 years ago. Who ever thought there would be a pandemic that would cause the world to go on a standstill as we experienced in 2020. But some countries already had data to show the possibility of such happening, and had ran simulations on what would happen if such a situation arose. So you see, we cannot underestimate the role of research and data generation.

Data, whether primary or secondary, has a huge role to play in improving the development outcomes of any nation. Part of the economic and even security challenges we are experiencing in this country today could have been solved by keeping proper records and data of every Nigerian citizen. This is why I have always been a strong advocate of linking all forms of data in the country.

Not just only linking our NIN to our phone numbers, but linking our NIN to drivers’ licenses, bank details, international passports, educational institutions and most importantly our voter’s card. If we are really serious about getting our electoral system right, we should also consider linking the NIN to the voters’ card. That way, anyone without a verified NIN wouldn’t be able to vote; and I tell you, this will curb a lot of electoral malfeasance and irregularities. Any sector of the country today facing challenges, if you look closely, you would notice that the lack of data or its inadequacy is playing a role in the challenge or inefficiency being experienced. I am fully persuaded to say that Nigeria needs data today than it has ever needed data at any time in our history as a nation.

Last year, your institute released a number of research studies. Can you share some of the major highlights from the findings?

Yes, there were a number of really important and interesting studies that we conducted and released in the year 2020, in spite of the pandemic, lockdown and restrictions. We began the year with a major study tagged the Canada Rush, which was a study on the motivations for Nigerians emigrating to Canada. I’m sure if I ask you now if you know someone who migrated with his or her family to Canada, your response will be in the affirmative. It was a study that received significant attention. The findings showed that there were five key reasons some Nigerians were considering emigrating to another country, the first being better career opportunities, followed by heightened insecurity, the desire to provide a better future for their children, for further education, and for perceived poor governance in Nigeria. The study also revealed that those seeking emigration were not your average unemployed or poor Nigerians, No, they are the highly educated, employed and in most cases resigning from jobs, and the upward mobile Nigerians who are taking their skills, experience and qualification out of the country. We also saw that the favourable Canadian immigration policies acted as a key pull factor attracting many Nigerians, as we identified over fourteen different schemes and migration pathways

Ihua to Canada such as the Permanent and temporary scheme, federal skilled workers programme also known as the express entry scheme, family sponsorship, Atlantic migration programme, provincial nomination programme and several others. In addition, we conducted another major study tagged, “Does Nigeria love Nigerians?” This was also well received; it was a study which sought

The study also revealed that those seeking emigration were not your average unemployed or poor Nigerians, No, they are the highly educated, employed and in most cases resigning from jobs, and the upward mobile Nigerians who are taking their skills, experience and qualification out of the country

to interrogate the social contract between the country and its citizens. It made use of a number of indicators to test whether not Nigeria as a country can be considered fair and kind to her citizens. We made use of indicators such as how much pride and trust do Nigerians have for the country, how well do they consider that their lives matter to the government and their voice counts to public policy and decision making; what benefits would they say they have benefitted in the country in the last five years, how well does the country treat its elderly citizens, people living with disabilities and the terminally ill amongst us. And the findings were really interesting to see.

The recent study on “Does Nigeria Love Nigerians” was insightful. Can you shed more light on the findings?

As I mentioned, in the study we tried to interrogate the social contract that exists between the country and her citizens. The theory of social contract presupposes that government has certain responsibilities and obligations it owes to the citizens; and on the other hand, the citizens have obligations they owe to the state. So, while government is responsible for providing good quality of life and security for its citizens, citizens also owe a duty to pay their taxes, be loyal to the state and also adhere to the constitution of the country. It’s a two-way thing. So yes, the

API also conducted some studies on the COVID-19 pandemic. What was the research all about?

Yes, you’re quite correct; API conducted about three different studies looking at different aspects of Covid-19 on citizens.

The first was a commissioned study we conducted for a group, which was trying to undertake some intervention in a particular south-south state and requested that we conducted a citizens’ poll to help ascertain the state of Covid-19 in the state and what citizens knew about the pandemic.

The second study was a nationwide poll to provide an update on the pandemic from the perspective of the general public. The poll found that while majority of Nigerians believe in the existence of Covid-19, only 75 per cent of that proportion believe it exists in Nigeria. You see, we also found that 84 per cent of Nigerians said they will not be in support of a second lockdown due to the hardship they experienced during the initial lockdown. In addition, the 3rd study on Covid-19 which we conducted was the one conducted to assess the socio-economic implications of the pandemic on rural women in Nigeria. For this study we had to visit rural areas to directly interact with rural women and their interlocutors. The major findings from the study showed that the majority of rural women interviewed, 74 per cent said that their sources of income had been negatively impacted by the pandemic.

Also, the study revealed that 90 per cent of CONTINUED ON PAGE 28

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UK-Nigeria: An Enduring Investment Partnership Helen Grant

first months as Trade Envoy, has been improving the conditions for trade in legal services between the UK and Nigeria. This follows three years of working alongside London’s world class Judicial College, formulating and delivering a State level Judicial Training Programme for judges and court staff in a growing number of states, including; Kaduna, Niger, Imo and Sokoto. Reinforcing a strong justice system and the rule of law is, I believe, critical for the maintenance of a favourable investment environment.

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year ago, this week, President Buhari, federal government ministers, state governors and over 70 senior Nigerian business leaders, were in London for the UK-Africa Investment Summit; arguably one of the biggest Nigerian delegations ever to visit the United Kingdom.

The summit helped secured £364 million in announced deals between the UK and Nigeria.

But above all, the summit was about connecting governments, businesses and investors with each other; matching UK capital and expertise with exciting projects and business initiatives.

I was privileged to play a role in several of the summit sessions with African Heads of State and Government, including chairing panels on breaking down barriers to trade and encouraging investment in clean energy.

And I had the privilege of meeting some truly inspiring Nigerian female tech founders whom the UK-Nigerian Tech Hub have been supporting and mentoring.

In that same week in January 2020, there were reports of a new virus starting to spread around the world. I don’t think anyone foresaw how much COVID-19 would come to dominate our lives in the following twelve months.

Both the UK and Nigeria have had to focus on addressing the challenges of COVID-19, particularly the unavoidable shutdown of normal business activity for significant periods in 2020.

As a member of Parliament in the UK, I have seen how businesses, communities and families have struggled with the pandemic, while also adapting in often ingenious ways. As someone with a proud Nigerian heritage from my father, I have watched closely many of the same struggles, and similar resilience, in Nigeria.

When Prime Minister Boris Johnson appointed me as Nigeria Trade Envoy last October, I quickly understood that one of my most important roles would be to foster the UK-Nigeria trade and investment partnership to help boost a recovery that will create jobs, but also to grasp the opportunity to build back better and more sustainably. The latter will feature prominently this year as the UK Government prepares to host COP 26 and deliver a much needed further move towards a low-carbon and nature-based global economy.

One of the reasons why I was so keen to accept the Federal Government of Nigeria’s invitation to visit Nigeria last month, was to resume followingup on what the UK-Africa Investment Summit had started, while also taking into account the unprecedented challenges of 2020. Based on my conversations there in December with the federal government, state governors, Nigerian and UK business, I am convinced of the great opportunities of bringing more UK capital and expertise to

Grant support key sectors of the Nigerian economy; sectors such as power and transport infrastructure to mention just two, where investment can really drive Nigeria’s recovery.

UK companies are already active here in power generation and distribution projects in states as diverse as Bauchi, Kaduna and Ogun, but we are keen to bring more investors that can share their expertise more widely, perhaps using alternative models such as Public Private Partnerships (PPPs).

I also heard and saw for myself, during the visit, the important role that existing UK investors played in Nigeria during the pandemic, and continue to do so, which brought home the importance of retaining, as well as attracting investment.

Many of these companies have invested in Nigeria for decades. Many will think of investors as mainly working in the oil and gas sector. But UK companies employ tens of thousands in sectors as diverse as financial services, pharmaceuticals, consumer goods manufacturing, food and drink, and waste management services. And they have stayed committed to Nigeria: according to the most recent available figures from the UK Office for National Statistics, the stock of UK investment in Nigeria is worth over £4 billion and Nigeria remains the second biggest destination for UK outward direct investment.

An important part of retaining investment is to create an environment which will not only

attract companies but encourage them to stay.

Since COVID-19 started to affect growth and normal business last spring, Nigeria deserves credit for intensifying reforms such as removing fuel subsidies and taking the first steps towards making power sector commercially viable.

Other reforms ranging from the Companies and Allied Matters Act to licences for payment service banks to expand access to mobile money, are welcome.

I very much hope that the impetus will continue, even intensify, and that was another theme of my discussions with ministers and leading decision-makers.

One of several issues we talked about was the federal government’s commitment to make customs clearance easier for businesses.

Some UK technical assistance is supporting work on the Single Window portal for clearing exports and imports. This is good for Nigeria, because it will help competitiveness and support diversification by making it easier for companies to export non-oil products. It is also in the UK’s interest to make it easier for UK investors in Nigeria to bring in essential imports that will boost their business operations, enable to grow and create new jobs. We are keen to continue working together with the federal government to implement these changes.

Another area that I have focussed on in my

Continuing to address any policy or regulatory issue to make business easier – be it steps to accelerate customs clearance, or ensuring adequate access to the foreign currency essential for investors to keep their businesses operating – is an important way to show the value the government places on investment retention. It is also something that potential new investors will look at in their due diligence.

Which brings me to today’s virtual Africa Investment Conference, for which I am pleased to report over 190 Nigerian participants have registered to take part. Not only does the conference mark the one-year anniversary of the landmark UK-Africa Investment Summit, but it is also a reminder of what potential UK investors can offer and the support available from the UK Government. I look forward to reacquainting with contacts and friends, as well as making some new ones.

The conference is looking at four particular sectors: sustainable infrastructure, renewable energies, financial and professional services, and agriculture and agritech. I’m delighted that this is such a good fit with the priorities for Nigeria’s government and its private sector. These are also sectors where I am already looking to help Nigerian and UK companies, including a particularly exciting potential partnership on cutting-edge agricultural technology. Others will welcome a reminder of the opportunities to match demands for capital in Nigeria withS the deep and sophisticated financial markets in which the City of London excels.

I’m confident that the Nigerian attendees will find the conference helpful for making UK companies aware of the diverse range of opportunities in Nigeria and her attractions, not least the size of the domestic market.

Although this is a virtual conference, I look forward to physically returning to Nigeria very soon. As the Prime Minister’s UK Trade Envoy, there is much for me to do to help convert the immense goodwill that exists between our two countries, into the business deals and partnerships which will make a sustainable, investment-driven and job-creating recovery a reality. I am relishing the challenge with open arms. t(SBOU JT UIF 6, 1SJNF .JOJTUFS T 5SBEF &OWPZ UP /JHFSJB

IHUA: NIGERIA REQUIRES DATA TO ACCOMPLISH DEVELOPMENTAL OBJECTIVES the rural women we interviewed stated that they did not receive any form of palliative from the government or any other source during the lockdown.

No doubt most of your findings stand to benefit policy making, how much buy-in do you have from policy makers especially given the place of data in planning and development?

Well, we have received very positive feedback from the general public and media whom we have engaged as part of our dissemination strategy. We have visited major radio stations and a number of TV stations where we discussed the findings of this study. We observe that anytime we are on air, especially on radio, we have listeners who call in to thank us for our work and corroborate the findings of the studies. I recall the study on Canada Rush kind of went viral, and we even had people sending emails to the company to make enquiries about emigrating to Canada, as if I had turned to an immigration consultant. We have also sent out report to a number of relevant public institutions that we believe should see the findings of our studies, surveys and polls. As I always say, it’s of no use conducting research studies and leaving them to gather dust under the table, without seeking to engage in proper dissemination.

So we try to disseminate as wide as possible and using our social media platforms as

well. We are heavy on social media and we have a great social media team who help ensure that the data we produce as disseminated widely. We also make use of beautiful infographics that really help to drive home the message about the findings.

So far we have been getting commendable feedback from the public, and it is highly gratifying for us to say the least.

Are there new projects the institute is currently embarking on this year?

Yes of course, as public opinion pollsters, we are constantly scanning the environment for what I call hotspots or honey pots of areas that we can use to support policy makers. We have some new grants that have recently been won, so we intend to engage in more collaboration with institutions like the National Bureau of Statistics (NBS) and the National Populations Commission (NPC). We also wish to expand our footprints a lot more across the African continent. To the glory of God, last year we handled assignments in Burkina Faso, Mali and Bangui, Central African Republic. We also handled assignments in Liberia, Sierra Leone and Ghana the year before. This year I would like to see our footprints extend to places like Senegal, Cote D’ivoire, Tanzania, Kenya, Ghana, and Uganda. We also have some very interesting studies lined up to be released, but I would not like to let the cat out of

the bag at the moment.

How would you advise policy makers on the need to imbibe use of data and research in their policy making?

I don’t think I have anything new to say than the things I have always said.

With our population projected to high 263 million by 2030 and 400 million by 2050, we do not need a soothsayer to tell us that data and information would become the new diamond. With population increase comes complexities in addressing public needs. How do we clothe, feed and provide services to this population? The answer would be in the data we are able to produce.

So I think the earlier our government and policy makers realize this, and begin to strengthen institutions aimed at providing us with essential data the better for us. Let me end by saying Nigeria is in desperate need for a new census.

As you may be aware, the last census conducted in this country was conducted in 2006, and a new one had to have been conducted in 2016, 10 years after. I will like to plead with the government to ensure that NPC is funded to conduct a fresh census for this nation. This would be a good starting point in helping to provide fresh data to drive Nigeria’s next development plan.

Congratulations on your appointment as a professor sometime last year. Can you tell us about that?

Yes, thank you for that. I didn’t see that coming. But anyway, yes I was appointed a visiting professor of practice in opinion research at Coal City University, Enugu.

It was in recognition of my work within the opinion research space, and I’m quite thankful to the leadership of the university, especially the VC professor Afam Icha-Ituma.

I’m pretty excited about the opportunity, because it will enable me blend the “town and gown” in my work. I have always been an advocate of applied research, especially about how research conducted by academics and university scholars can add value to creating a better society. So it gives me an opportunity to collaborate with other academics; and I have been mandated to work towards establishing a regional social and opinion research hub at the university that would be at the forefront of conducting opinion polls and surveys in south east Nigeria. The idea is that in a few years, anytime you want to ask about what Nigerians in south east Nigeria think about any matter, be it politics, economy, public life, culture you name it, you can simply go to the research hub at CCU. The plan is to start out with a flagship poll for the region, with extensive surveys across the entire local government areas and senatorial districts of the region. So I’m currently shopping for funds to make that happen; but it’s an opportunity I’m most excited about.

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

Students of Aduvie International School observing COVID-19 rules during the resumption of schools after the Christmas and New Year holidays in Abuja...recently

Cross section of Parents and students crowding the frontage of Federal Girls Government College Sagamu, Ogun State during the resumption of schools after the new year holiday...recently PHOTO: ETOP UKUTT

R-L: Imo State Governor, Senator Hope Uzodinma; State Chief of Protocol Amb Lawal Kazaure and PLO Shehu Usman during a close door meeting with President Muhammadu Buhari at the Presidential Villa Abuja... recently PHOTO: STATE HOUSE

Cross-section of new judges for the Edo State High Court, during their swearing-in, at Government House, Benin City...recently

Students of the Junior Secondary School, Kurudu in a classroom session during the resumption of schools after the New Year holidays in Abuja...recently

Students of the Junior Secondary School, Kurudu, during the school resumption after the new year holiday in Abuja..recently

L-R: Category and Brand Manager, Devon King’s PZ Willmar, Toyin Popoola Dania; Managing Director, Maxima Media Group, Mr. Oluwafemi Ogundoro; and Assistant Brand Manager, Devon King’s PZ Willmar, Omofolarin Omobolanle at the Street Foodz Naija Season 2 press briefing in Lagos...recently PHOTO: SUNDAY ADIGUN

Cross section of Ijegun Primary School Pupils in class session during the resumption of School after the new year holiday in Lagos...recently

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EDUCATION ‘Equipping the Youths Will Secure the Future of Nigeria’ Dr. Ibilola Amao is the Principal Consultant, Lonadek Global Services. In this interview with Funmi Ogundare, she explained why the country must equip the youths and ensure that the right human capital asset are employed in the energy, oil and gas industry so that they can create the needed value to secure the future of Nigeria

O

ver the years, you have been able to empower thousands of youths in the area of Science, Technology Engineering and Mathematics (STEM), how has Lonadek being able to use this feat to close the energy gap across the continent?

In 2005, we were engaged by a company to recruit some engineers and we realised that the skills and the type of capabilities they needed ,were not available locally. So we realised that there is a need to have human capital development initiative to bridge the gap between our universities and what the industry required. Apart from training and upskiling graduates, we also needed to look at the curriculum and mode of training, learning and development in our universities and secondary schools to make sure that the kind of graduates being shunned out from our institutions of higher learning, were competitive enough and could compere with graduates from other developed nations . We had two problems, one was to get graduates who could think critically, abstract and logically outside the box and the other was to be able to overcome biases in the energy, oil and gas industry. We realised that that was lacking because people were learning in universities , both the students and lecturers have never gone to the field to actually see how the refineries work. They had not been offshore , they didn’t even know what the technology in the energy sector was all about . They had learnt the theory, but they had never seen or touched the field to know what the industry required.

For any country to move forward, there must be a deliberate effort to ensure that the best brains are in the teaching, learning, research and development area. Iron sharpens iron, if you put your best into your education, you will get the best out of the next generation.

In order to address the immediate needs at that time, we started by developing and engaging the best talent in Science, Technology, Engineering and Maths because the energy industry is STEM- driven to deliver oil and gas in deep water. You need the best brains using the best software and state of the arts technological equipment. We realised that we had to create an awareness so we decided to go on a 15-year advocacy initiative; Vision 2020 Youth Empowerment and Restoration initiative which we started in May 2006. The reason why those engineers did not perform well when they were being interviewed by expatriates from Port Harcourt, Milan and Paris, was because they lacked analytical, logical and out-of the box thinking skills . They can repeat what is in the textbook accurately and tell you what they have been told, but they could not think out of the box and and answer you accurately because they had not been taught the fundamentals. So we felt if we get secondary school students to know that the industry where there is a lot of work in Nigeria requires a lot of technology, the best brains , intellectual capacity and continuous learning ability to critically think out of the box, then we can get them excited early enough so that the most intelligent and brilliant ones come into the oil and gas industry. In so doing , we were securing the future of Nigeria and sustaining the oil and gas industry. If 95 per cent of the budget of Nigeria comes from the oil and gas industry, then it is an energy security risk if we cannot have Nigerians sustain the industry. For instance, now that there is Covid and the expatriates have returned to their countries, if we didn’t have Nigerians to run the oil and gas industry, we may be in trouble. So every country must plan for its future and must look at the frontiers sectors and make sure that they have the right human capital asset to work the sectors and create maximum value there. We finshed the project by December 2020.

outside Lonadek. Apart from that, every female in Lonadek is a mentee of mine . I and two other ladies co-founded Women in Energy Network (WIEN). With the Association of Professional Women Engineers in Nigeria (APWEN) and WIEN, we support women and girls and I mentor them as and when required.

Professional associations and institutions as well as societies, are established for that critical purpose, so when I ask people if they are members of an association or society and they tell me know no, I automatically believe that they are not serious about development. If you are serious about development you will be a member, whether you are a graduate member or not, so that when they are having meetings, conferences or webinars, you will show up there. It is when you see people on the stage speaking and asking questions, that you can approach them for their cards and you get to know such people. You ask them to be your mentor and you can create value both ways. But when people don’t come out of their comfort zones to attend conferences, exhibitions, webinars, AGMs , among others, I wonder where they are going to find suitable mentors. Also you can have a superior in your organisation and approach the person to be your mentor. It is not a bad idea, but it is also very useful to look for people you admire in your area of core competence and approach them in a value creating manner. You build a community with each other and ensure there is transfer of knowledge. There has to be a mutually respectful relationship.

Amao As a proponent of vision 2020, youth empowerment and restoration initiative, would you say that vision was achieved considering the challenges that came with year 2020?

We achieved everything we wanted to achieve. We exceeded our 100,000 target. We created awareness in the schools, universities and we were able to work on the passage of the Nigeria oil and gas industry content development and monitoring board, which began to run human capacity development initiatives. So a lot of initiatives fell out from it like bridging the gap between industry and academia, bridging the gap between industry, talent and Diaspora, as well curriculum development. We realised that the curriculum that we had was the old one , and upgrade came into the whole equation.

Entrepreneurship was introduced into 400 and 500 level engineering courses and a lot of initiatves came out of the programme and people came in and saw about 1,500 students in the room listening to various presentations and asking very intelligent questions.

When we started in 2006, most people didn’t understand what we were doing as nobody was thinking about the next generation being upskilled for the future.You would agree with me that capacity building and human capital development programmes are now everywhere.

In the process of building their capacity through training, how were you able to

create value that impacted their lives?

Not only did we expose the students to opportunities by giving them career hand books, we also provided them with career counselling. So when they got into university, they let us know that they were in the university. At every level of their education, they informed us and even when they needed internship , they came back to us and we placed them in the offices of our colleagues and friends, so we were able to help them stimulate their minds and encouraged them by keeping them excited about careers in the oil and gas industry . We were able to impact over 100,000 students. We maintained 70 per cent public schools and 30 per cent private schools. We worked with the education secretaries/tutor general of the six education districts and the state education board in Abuja. Also when we visited Port Harcourt, we worked with various bodies and we never went back there because we were almost attacked.

The importance of mentorship on the lives of youths, cannot be overemphasised, in the process of building their capacity, was there any form of mentorship that took place and how effectively do you think youths can optimise this area?

The fact that I am a member of Women in Business (WIMBIZ), I am a mentor. We have an arrangement whereby WIMBIZ mentees will be mentored to see how a female business owner runs her business. I also mentored

For any country to move forward, there must be a deliberate effort to ensure that the best brains are in the teaching, learning, research and development area

With the onset of Covid-19 pandemic, organisations seems to be moving towards digital transformation, for youths who intends to go into entrepreneurship, how would this impact their businesses?

The world as we see it today has gone digital, it is more virtual. It is now remote than it was before. So everybody has to be upskilled digitally. This is the reason why I reached out to a friend in Microsoft who I met in Brussels in 2016 to find out how we can collaborate to empower Africans on digital literacy. That is why we partnered with Microsoft, LinkedIn and Github to empower people with jobs of the future. For instance, a lot of people tell me they don’t need it.

But if you look at digital marketing module, everybody needs it. As an entrepreneur, you need to market your products and services.

Gone are the days when you can be going around to knock on somebody’s door or putting your advert in a newspaper and expecting people to find you there. Things don’t work like that anymore, even newspapers are digital, advertising is on social media.

Every entrepreneur needs to go through a digital upskilling programme and focus on customer service, digital marketing, online sales, among others, otherwise you are going to be struggling .

With the partnership to empower Nigerians and African youths, what Impact is this expected to have on the economy?

The next level for anybody who completes those programmes, is to look out and seek for virtual and remote opportunities. Nobody can stop anybody from getting a job from Australia, India, America, Canada, Europe or wherever, as long as you can deliver products and services online. That will be the result.

So this is to upskill you to be able to provide products and services online and you can build teams and businesses and collaborate online. But the most important thing is to understand what your strengths are and what value you are bringing to the table.

So what we are doing now is working with people in teams to see how we can empower them to access international markets. We are opening international doors for Nigerians and Africans.

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Controversy Trails Sack of Kwara Teachers Hammed Shittu in Ilorin The recent sack of 2,414 teachers under the ara State Universal Basic Education Board (SUBEB) has continued to cause disaffection among stakeholders in theate.

The sacked teachers were employed during the immediate past administration of Governor Abdulfatah Ahmed so as to address the inadequate number of teachers in basic and senior secondary schools in the state.

The immediate past administration had on September 18, 2018, approved the employment of 1,850 basic and senior secondary school teachers in the state to address the shortage of teachers in science subjects and create fresh employment in the state.

THISDAY gathered that the approval for the recruitment of the affected teachers was based on the separate requests by the SUBEB and the State Teaching Service Commission (TESCOM).

The two organisations it was learnt also based their requests on existing teacher shortages in the state, especially in English Language and science subjects.

The development made the then governor to approve the recruitment of 1,500 SUBEB teachers and 350 senior secondary school teachers and this was also as a result of persistent shortages of teachers that hit critical sector of education in the state.

Prior to the approval for the employment of teachers, the immediate past administration had engaged the services of some youths through its Kwara State Youth Empowerment Programme (KWAYEP) and the federal government’s NPower Scheme.

Ahmed also directed SUBEB and TSC to advertise the positions in the media and ensure that due process was

followed in the recruitment while ensuring spread across the 193 wards in the state.

It would be noted that the former administration was mindful of the fund constraints confronting states and local governments at the time The former administration intended to fund the new positions from resources freed up by natural attrition such as retirements, resignation and deaths.

THISDAY further gathered that the former government subsequently recruited qualified teachers from the pool of NCE graduates of the three colleges of education in the state in line with the existing executive approval and any reported deviation from the original approval lacked Ahmed’s assent.

Howevver, upon assumption of office as the eighth governor of the state on May 29, 2019, Alhaji AbdulRahman AbdulRazaq promised that the affected teachers would not be sacked, adding that they are sons and daughters of the state who are deemed fit to contribute to the educational advancement of the state.

The declaration was applauded by residents of the state. But as the teachers were going about their duties at their various schools, the administration took a new move by setting up a committee to look into how they were employed by the immediate past administration.

During the review period, the payment of some of the teachers’ salaries was stopped and this continued to give sleepless nights to the affected people as they didn’t know what will be their fate at the end of the day.

On December 24, 2020, the state government announced the nullification of the recruitment of the affected teachers, saying that it did not pas

through due process.

The teachers’ disengagement was announced in a statement titled ‘Kwara Govt Takes Stand on 2019 SUBEB Workers, Offsets Pending Seven Months’ Salaries. New Employment Portal Opens January’.

The statement, signed by the Press Secretary, State Ministry of Education and Human Capital Development, Mr. Yakub Ali-Agan, indicated that the sacked teachers were recruited in the twilight of Ahmed’s administration.

The state government said although it had earlier screened the teachers and cleared 1,658 of them, it was later discovered that majority of them were not qualified to teach.

The statement read: “For instance, it was discovered that some of the 1,658 teachers purportedly adjudged to be qualified did not, in fact they don’t have the required teaching certificates.

“It was discovered that the teachers were engaged for subjects not covered in the executive approval, underscoring the unwholesome and impeachable nature of the entire process.

“Following from the above, the government has decided to start the employment process all over again in January 2021.

The government will open a new application portal for all the 2,414 and any other

eligible persons to apply for SUBEB teaching jobs in relevant subjects to be advertised.

This effectively nullifies the controversial employment 2018/2019.”

The statement further explained that the decision to sack the teachers was built on justice and fairness to everyone, particularly taxpayers and children, whose future depend on the quality of teaching they receive at the elementary schools.

Meanwhile, Abdulrazaq has directed the immediate payment of seven months’ salaries earlier withheld from 594 SUBEB teachers since June 2020.

“The salaries were paid on Thursday December 24, 2020 on compassionate grounds as their employment status remains unofficial,” a government statement said.

Consequently, the statement released by the government was however turned into a sour pill to the sacked teachers as they decided to embark on a peaceful protest over the termination of their appointment by the state government.

The aggrieved teachers, who converged in multitude on the State Government House, were seen sitting on the floor, weeping under the scorching sun in agitation for their reinstatement.

Speaking with journalists,

one of the teachers, who identified herself as Ateyobi Esther, appealed to the state government to tamper justice with mercy and revoke its decisions concerning their dismissal.

“We have been on this job for the past two years. At first, we thought we were going to be disengaged, but the governor promised us that he would not disengage us. Most of us were single before but later got married after getting the appointment. The governor should please help us, our means of livelihood rely on this appointment, they should please have mercy on us.”

The Chief Press Secretary to the Governor, Rafiu Ajakaye, while addressing the protesters, explained that the decision of the government is aimed at reforming the education system through the recruitment of outstanding teachers. He said the government will soon roll out a fresh advert, which will be merit-based and technologically-driven.

In its reaction, the state chapter of the Nigeria Union of Teachers (NUT) charged the state government to rescind its decision of disengaging the “sunset” SUBEB teachers employed by the immediate past administration in the state.

In a statement issued in Ilorin, jointly signed by the state Chairman, Olú Adewara

and acting Secretary, Rasheed Mayaki, the union however commended the state government for paying the seven month salary of all the affected teachers.

The union pointed out that the teachers represent the driving forces needed in schools across the 16 local government areas of the state.

The union stated that education revolves around a set of principles and mechanism common to all cultures and faith and as such every decision should be critically assessed.

Also, the state wing of the Nigeria Labour Congress (NLC) appealed to the state government to rescind its decision over the sack of the teachers.

In a statement signed by the Chairman, Alhaji Issa Ore, the union said the decision to sack that large number of workers was too harsh on the affected people, their families and dependents.

It said the situation would make life unbearable for them and their families; more so that their sack had already created a vacuum in the classrooms, which was also not good for the development of education.

“We wish to stress further that a decision that government will have to re-engage new hands with shallow field experience may have a big setback on the students.”

Greensprings Principal Tasks Schools on Child-centredness The Secondary School Principal at Greensprings School, Anthony Lagos, Mrs. Magdalene Okrikri, has urged school owners to make child-centredness their guiding principle when thinking of how to make their schools to be of 21st century standard.

She said this while explaining why the school is regarded as a child-centred school, adding that a child-centred school is one that keeps investing in its teachers, facilities and other things that help prepare them to be lifelong learners and to become global citizens of the future.

“Over the years, many people have asked why we pride ourself as a child-centred school. The answer is that we put our students first and they are at the heart of everything we do. This has been our philosophy since the establishment of Greensprings School in 1985. Any investment that is toward motivating our students to get the best out of them is considered a worthwhile investment.

“For this reason, we continue to hire and retain bright teachers and educationists from Nigeria

and across the world. We arrange programmes and events that help our students acquire valuable professional skills, and we also continue to upgrade our facilities and invest in modern teaching technologies. In the last couple of years, we opened a ‘career, college, and university readiness’ centre; air and sea labs, and virtual reality labs,” she said.

Okrikri continued: “We have also introduced Wowbii interactive boards in our classrooms, and our virtual learning environment made it seamless for us to transition into online learning when the pandemic hit. Our child-centred approach to investment in the school has helped our students to succeed at national and international competitions and exams.”

She enjoined other schools to put their students at the heart of whatever they do, as that is the only way to raise children with a well-rounded education.

Greensprings School is a British international school with three campuses in Lagos – Anthony, Lekki, and Ikoyi.

Deputy Vice Chancellor, Academic, Lagos State University Academic, Professor Wahab Elias; President, National Association of Nigerian Students (NANS), Comrade Sunday Asefon, Acting Vice Chancellor, Professor Oyedamola Oke and Acting Dean, Students Affairs, Dr. Tajudeen Olumoko during a meeting with the Oke, in Lagos...recently

Gradely Trains 5,000 Teachers on Bridging Learning Gaps Funmi Ogundare About 5000 teachers are currently benefitting from Gradely Technology Solutions Limited videoconferencing training which kicked-off on January 15, 2021.

The training tagged Teachers’ Academy 2021’, which saw them being drawn from across 500 schools in Lagos, Abuja as well as other states across the federation, will expose the teachers to tangible ways of bridging the learning gaps and online schooling transition challenges, caused by the effect of school closure due to Covid-19 pandemic.

It will afford them opportunity to learn the intricacies of adaptive learning, critical thinking and creativity with technology,

to enable them use complex digital learning environments to ease their students’ pain points and help them improve and achieve mastery in class.

To ensure that the 5,000 teachers are really impacted, a train-the-trainer approach will be used to train two teachers from each registered school, to pass on the knowledge to their colleagues.

The schools with top performers of the training will be rewarded with a 30-day free trial of Gradely’s new, soon-to-be launched Learning Management System (LMS), with catchUp video lesson and game resources to support at home learning for all their students.

Training and addressing the teachers at the academy this year will be Dr. Ify Obidi, Executive

Director at Tech Savvy Teachers International; National Director at OBAX Academy Worldwide; Mrs. Adeiye, Executive Director at Nurture House Limited, Mrs. Ayopeju Njideaka, Mr. Adeyinka Adekitan, H.O.D Mathematics at Rainbow College, Lagos State; Mr. Alomaja Adebayo, CEO, Eazy-Digi Edtech Solutions and Mr. Seyi Adelaju, Co-Founder and Growth Lead at GradelyNG. The training is expected to climax on January 22.

The Gradely LMS, known as Gradely For Schools, is a homegrown, world class LMS, built for personalised learning with features such as live classes to organise and hold engaging class experiences, assessment tools to set up robust and relevant assessment formats fitted with the Nigerian (WAS-

SCE and NECO) and British (IGCSE) curriculum-aligned question pool, a personalised video lesson and games library to support in-class efforts with students at home and a proctored examination system to hold credible remote academic evaluations.

In order to support the public during the first school closure in March last year, Gradely offered 1,000 children the opportunity to continue learning online for free, through live classes and it was successfully concluded in September 2020, exceeding the initial target by 300. The organisation was also awarded the most adaptive learning software in Nigeria by the Federal Ministry of Education at the inaugural edition of the Edtech summit awards.

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Schools Resumption: NAPPS Task FG on NANS National President Visits LASU Enforcement on Covid-19 Protocols Acting VC Funmi Ogundare

As schools reopened this week, the National Association of Proprietors of Private Schools (NAPPS), has called on the Federal Government to enforce compliance with Covid-19 protocols in other to save lives and livelihood.

The National President of the association, Chief Yomi Otubela who briefed journalists recently, via Zoom, said there should be reduced hours of learning within the school environment to reduce the probability of exposure to the virus, adding that the government should also put in place enforcement mechanism of all non pharmaceutical protocols in the schools’ system.

“The schools have been at the forefront of support for strict adherence to the Covid-19 protocols as recommended by the Presidential Task Force on Covid-19 and Nigeria Centre for Disease Control (NCDC) within the school environment. This assertion can be supported by clean bills of health received by

various schools management during the earlier visits of government’s monitoring teams on Covid-19 safety protocols to schools in the country.”

Otubela who spoke on the harshtag #KeepSchoolsOpen, added that so far, schools have been putting in place the safety protocols practices such as enforcement of the use of facemasks for learners, teachers, support staff and visitors; provision of facility to ensure frequent washing/sanitising of hands with alcohol-based sanitiser, daily temperature reading, observance of physical distancing rules in classes, among others.

He suggested staggered reopening of schools where some students attend schools in the morning and others in the afternoon or alternative days of the week especially for public schools with a high population of students, while this may not apply to private schools due to a manageable number of students per school.

“Phased reopening of schools for different classes could be adopted. Reduced

hours of learning within the school environment to reduce the probability of exposure to the virus and creation of isolation room within the school environment for those who suddenly show symptoms of illness while in school should also be adopted,” the national president said He expressed concern that majority of students live in unorganised environments that are not helping to curb the spread of the virus, so putting them in organised environments like schools, protect them better especially when their parents/ guardians are at work.

“NAPPS as an association has also put in place its internal monitoring committee to ensure private schools in the country continue to adhere to the recommended Covid-19 safety protocols.

Schools provide a safe environment for vulnerable children whose parents are front liners in the fight against Covid-19 . In a city like Lagos, where parents are always out of home , schools come to the rescue to keep these children safe

,”he stressed.

Given the increase in crime and social vices among the youths and teenagers, the national president appealed to government to enforce little hours at work for workers to enable them return home on time to attend to their children.

“NAPPS would continue to engage both the government and other stakeholders on the need for resumption of schools without further postponement in the country, just as school are prepared to observe as usual, the necessary protocols to prevent the spread of the virus.”

While commending the federal government for it’s decision to support private school teachers through their palliative programme, Otubela called on on parents to own the fight against the spread of Covid-19 through Parents Teachers Association (PTA).

“PTA should form Covid-19 compliance officers among parents that will rotate visitation to schools on regular basis for compliance,” he said.

The National President, National Association of Nigerian Students(NANS), Comrade Sunday Dayo Asefon recently, led members of the national and state executives of the body to the acting Vice Chancellor, Lagos State University (LASU), Professor Oyedamola Oke, on a dual mission to congratulate him on his appointment and present some demands on behalf of the students union to him.

Professor Oke was joined by the Deputy Vice Chancellor, Academic, Professor Wahab Elias, Dean, Students Affairs, Dr. Tajudeen Olumoko and Deputy Registrar, Vice Chancellor’s Office, Mr. Wale Anthony, to receive the delegation.

In his remarks, Asefon said the visit was a cordial one, aimed at felicitating with the acting Vice Chancellor and appreciate the institution’s management formerly led by the immediate past VC, Professor Olanrewaju Adigun Fagbohun, SAN, for building and sustaining a strong relationship with the students’ union of the university.

“I must really commend the university management for it’s friendly approach to students’ union, which has led to five years of uninterrupted academic calendar. It means there is a smooth relationship and we want that to continue,” he said.

He called on the management to review the recent increase in the school fees, facilitate the speedy completion

of the students union arcade and provide a new bus for them.

In his response, Oke thanked the president and his team for coming to the university and promised to channel their demands to the appropriate quarters for action with the major demand, which is the review of the new school fees.

“We didn’t set out to inflict hardship on our prospective students, just as we didn’t just come up with those figures.

We did all that was necessary and carried every stakeholder, including the students union along in arriving at that figure which will be paid only by new students. I appreciate your effort but when we are faced with this kind of problem, we must find a solution.”

The DVC, Academic, Wahab Elias, said: “The school fees had to be increased to ensure that we put the university in a strong position so that it doesn’t go into comatose.

However, the decision was not unilaterally taken by us and we will inform our proprietor of your demand.”

The meeting rounded-off with a presentation of the university’s souvenirs to the delegation.

The Zonal Coordinator, NANS, South West Zone, Comrade Samuel Kappo, President, Lagos State University Students Union, Comrade Abdulbasit Ashade and Speaker Students Parliamentary Council, Abdulquyum Aromire were among members of the delegation.

Eight Nigerian VCs Have No PhD Degree, MDCAN Reveals Seriki Adinoyi in Jos

As school resumed Monday, parents and students were seen scrabbling at the gate of the Government Girls College Sagamu, Ogun State, ignoring COVID-19 protocols

Gombe Partners QCF to Build School of Nursing Segun Awofadeji in Gombe Gombe State is partnering Qatar Charity Foundation (QCF) to construct a befitting School of Nursing in the state and improve on human resource in the health sector.

The Governor, Alhaji Muhammadu Yahaya recently visited the Abuja office of the Qatar Charity Foundation (QCF) where he met with the Country Director, Sheikh Hamdi Elsayed and other officials of the foundation.

Top on the agenda of the meeting was the proposed construction of a befitting School of Nursing in Gombe with state of the art facilities.

The Senior Special Assistant(Media and Public-

ity) to the State Governor, Ismaila Uba Misilli, in a statement available to journalists in Gombe, Governor Yahaya hinged the decision to build new school of nursing in Gombe on his administration’s resolve to reposition the health sector and revitalise the hospitals both at primary and secondary levels with more trained health personnel to fill the human resource gap.

He hinted that already, a five- hectare land has been earmarked for the construction of the 600-students capacity health institution, with provision of classes, hostels, laboratories, sporting arena and other educational and recreational facilities.

Governor Yahaya pre-

sented a comprehensive working drawing to the Qatari foundation helmsman for necessary inputs and actions.

Already, Gombe State and the foundation have a subsisting Memorandum of Understanding (MoU) on the provision of social amenities in some communities across the 11 local government areas of the state in support of the governor’s commitment to the welfare of his people.

Sheikh Hamdi Elsayed disclosed that the foundation has concluded arrangements for immediate construction of 20 15,000-litre capacity special solar powered boreholes and additional 80 5,000-litre capacity ones to be drilled later.

Governor Yahaya has already directed the commissioner of water resources to carry out survey and submit coordinates of areas for immediate commencement of work at the benefiting communities.

Similarly, the Qatari foundation disclosed plan to provide medical services to over 1,000 eye patients with at least 150 surgeries expected to be performed in Gombe state.

Governor Inuwa Yahaya who commended the partnership between Gombe State and the Qatar foundation, assured that his administration will continue to collaborate with the organisation in areas of needs and interest of the people of the state.

Medical and Dental Consultants’ Association of Nigeria (MDCAN) has said that at least eight Vice Chancellors of federal and state universities in Nigeria do not have PhD degrees, and yet have done credibly well in holding the positions, thereby dismissing the argument that a candidate must necessarily hold the degree to qualify for the position.

The National President, Professor Ken Ozoilo, in a statement, called on the Governor of Lagos state and Visitor to the Lagos State University (LASU), Mr. Babajide Sanwo-Olu, and the Governing Council of the university to therefore be weary of discriminatory argument against Professor Olumuyiwa Odusanya in the selection of the vice chancellor of the university.

Ozoilo insisted that “the professional and academic qualification to be employed as a clinical lecturer in the university system in Nigeria is the Fellowship of National Postgraduate Medical College of Nigeria (NPMCN) or its equivalent.

According to him, “The Fellowship along with evidence of academic productivity forms the basis of promotion of clinical lecturers up to the professorial cadre. Possession

of PhD for Clinical lecturers is optional (non-obligatory) and does not apply as criteria for employment nor for career progression of clinical lecturers in the Nigerian university system as expressly restated by the National Universities Commission (NUC) vide circular ref: NUC/ES/138/ VOL.63/53 of 3rd of March 2020.”

Ozoilo recalled that several fellowship holders are currently serving as vice chancellors in different federal and state universities in Nigeria. “These include the current President of the Nigerian Medical Association (NMA), Professor I. A. O. Ujah, a Consultant Obstetrician and Gynaecologist, the VC of the Federal University of Health Sciences, Otukpo who does not hold a PhD. Prof B. B. Shehu, a Consultant Neurosurgeon, is also VC of Federal University, Birnin Kebbi. He is a Fellow of the National Postgraduate Medical College of Nigeria, and does not hold a PhD. Prof Aliyu Usman El-Naferty, a Consultant Obstetrician/ Gynaecologist is the current VC of the Gombe State University; he is a fellow and does not hold a PhD. Professor Chigozie Ogbu, is a Consultant Paediatrician, does not hold a PhD, and is the Vice Chancellor of Ebonyi State University.”

WEDNESDAY JANUARY 20, 2021 • T H I S D AY

37

38

WEDNESDAY JANUARY 20, 2021 •T H I S D AY

WEDNESDAY JANUARY 20, 2021 • T H I S D AY

39

40

T H I S D AY ˾ Ͱͮ˜ 2021

BUSINESS/MONEYGUIDE

Nosak Group Restructures Operations Hamid Ayodeji The Nosak Group recently held her 2021 strategy retreat to review the business landscape in 2020, while making projections into the year.

The theme of the retreat was: ‘Fast Forward to the Future.’

A statement explained that the theme was hinged on the group’s five-year strategic plan to consolidate and focus on three key sectors which included starch and its derivates, oil and fats, investment and services.

In his opening remarks, the Group Executive Chairman, Dr. Toni Ogunbor stated that the year 2020, marked the beginning of the five-year strategic plan, designed to launch the group into the top-tier league of agro-processing businesses in Africa.

“In the midst of the uncertainties that rocked the

business environment in 2020, we consolidated on efforts to restructure our operations with the appointment of Thomas Oloriegbe as Group Managing Director formerly the Chief Operating Officer of Nosak Group. “With over 21 years of experience in business consulting, mortgage banking, and real estate management; he has displayed excellent leadership, communication and organisational skills,” he explained.

Ogunbor added that the Group moved a step further in the execution of its cassava to ethanol production plant and cultivation of cassava on 6,000 hectares of farmland in partnership with the Nigerian Cassava Growers Association (NCGA). He stated that, “As a forward-thinking and socially responsible organisation, Nosak Group launched the Atlantic Hand and Surface Sanitizer

through its subsidiary, Zex Standard Pharmaceuticals Limited during the outbreak of COVID-19.

“Several donations of the product were made to government agencies, private organisations, and worship centers in support of the fight against coronavirus”.

In his presentation on, ‘Business in Nigeria: The Financing Opportunities,’ Executive Director, Investment Banking, First Ally Capital, Oladipupo Ogunbiyi, reviewed the macroeconomic outlook for 2020, 2021 and beyond.

“The recovery from recession and growth will be slow in the early part of 2021,” he said.

He, therefore, called on the Group to consider intervention funds and participation in equity markets as alternative financing options for their relative cost advantage to drive the business expansion.

MARKET INDICATORS

NG Clearing Acquires Technology for Operations Goddy Egene Nigeria’s premier central counterparty, NG Clearing Limited has announced that it has signed an agreement with a leading software development firm, Mantissa Infotech Private Limited, for the development, implementation and maintenance of bespoke clearing and settlement technology for its operations.

NG Clearing Limited, had received an approval-inprinciple from the Securities and Exchange Commission (SEC) in September 2020, to clear and settle exchange traded derivatives instruments.

Speaking on the agreement, Managing Director & Chief Executive Officer of NG Clearing Limited, Mr. Tapas Das, said: “We are very excited about this deal, as the deployment of the technology platform puts us in a position

to commence operations as soon as we receive final approval from the SEC. “The technology platform will support the clearing and settlement of derivative instruments across various asset classes i.e. futures and options contracts on indices, equity shares, commodities, currency, rates etc.

“Mantissa’s vast experience and end-to-end capability in providing a suite of bespoke technology solutions to leading exchanges and clearing houses in India comes in very handy, having provided both the trading and the clearing & settlement software for 14 years to the National Multi-Commodity Exchange of India Limited (NMCEIL), which was the first national level commodity exchange in India, until NMCEIL was merged with Indian Commodity Exchange Limited (ICEX) in 2018.

“Mantissa’s broad experience

from providing its technology service to various market infrastructure, including NMCEIL, Metropolitan Stock Exchange of India Limited (MSE), Metropolitan Clearing Corporation of India Limited (MCCIL) and ICEX, has been beneficial in the development of the state of the art technology and we expect that our stakeholders will find the technology very versatile and useful.”

NG Clearing Limited is promoted by the Nigerian Stock Exchange and Central Securities Clearing System Plc along with key stakeholders like the Nigeria Sovereign Investment Authority, Access Bank Plc, Consonance Kuramo Special Opportunities, Coronation Merchant Bank Limited, Greenwich Merchant Bank Limited, Union Bank of Nigeria Plc, United Bank for Africa Plc and Association of Securities Dealing Houses in Nigeria.

Sterling Bank, Mercy Corps Train 90, 000 Rural Farmers Sterling Bank Plc has entered into a partnership with Mercy Corps to train more than 90, 000 farmers on better agricultural practices to improve output and grow the sector.

The programme, Feed The Future Nigeria Rural Resilience Activity is a five-year programme funded by United States Agency for International Development (USAID), under the USAID’s Feed the Future Project.

Giving details of the intervention during the official signing of the Memorandum of Understanding (MOU) which held virtually, Group Head, Agriculture, and

Solid Mineral Finance, Sterling Bank, Bukola Awosanya, was quoted in a statement to have noted that the partnership was in tandem with the financial institution’s commitment to the economic recovery of the country as recession and food inflation bite harder. Awosanya, said Sterling Bank which has consistently worked to stimulate the growth of Nigeria’s economy for six decades, understands that working with relevant stakeholders is critical and, therefore, is at the heart of the bank’s professional service and interventionist policies.

She added that: “Our commitment to critical sectors: Health, Education, Agriculture, Renewable Energy and Transportation (HEART) has brought together our collaboration with Mercy Corps Nigeria.

“We are excited about how this programme will impact not only agribusiness in the country but also the lives of the beneficiaries.

“Agriculture is pivotal to our strategy as a financial institution.

It had been clear to us before now that Nigeria will only prosper when we place priority on core areas of our national life”.

We are Not Recruiting, BoI Warns The Bank of Industry (BoI) said its attention has been drawn to advertisements and letters on a purported recruitment exercise by the bank.

Owing to this, it warned members of the public not to fall for fraudsters, saying it is not recruiting.

The BoI gave the warning in a statement yesterday.

It stated: “In one of the letters sighted, an applicant is asked to submit a copy of his national

identity card, copies of academic and professional certificates, among others.

“The Bank wishes to inform the general public that it is not undertaking recruitment in any form and in any part of the country or overseas.

“Members of the public should be wary of fraudulent advertisements by recruitment agencies.

For the avoidance of doubt, we wish to state that BoI is not

recruiting now and it has not asked any agency or organisation to recruit on its behalf. It also does not demand payment in any form for job placement.

“Anyone who entertains such invitations or deals with the fraudsters does so at his or her own risk.

“The Bank of Industry continues to prioritise its support for MSMEs to stimulate national economic recovery and growth.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ 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 ˜ ͯͶ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $53.92 a barrel on Monday, compared with $54.68 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

41

T H I S D AY ˾ Ͱͮ˜ ͰͮͰͯ

NSE CEO Bullish on Capital Market Outlook for 2021 Goddy Egene The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, yesterday expressed optimism that the market would record another impressive performance in 2021, saying the exchange would consolidate on the benefits of demutualisation.

The Nigerian equities market recovered from a decline of 2019

and ended 2020 with a growth of 50 per cent.

However, speaking during the virtual presentation of the 2020 market recap and 2021outlook, Onyema said the year has started on a positive note as the ASI has already returned 1.72 per cent after nine trading sessions.

“We expect the marginal reopening of businesses, normalisation of the economy and revenue-diversification drive of

P R I C E S MAIN BOARD

F O R

DEALS

the Nigerian government to elicit positive sentiments throughout the year. According to him, as the NSE transitions to a demutualised exchange group, new appointments were recently announced, which he said would support the NSE’s vision to be Africa’s preferred exchange hub.”

“We look forward to consolidating on the benefits of demutualisation in the coming year. We intend to aggressively

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

pursue cutting-edge products and services, access new markets and deliver better value to our valued stakeholders,” Onyema said.

He said the NSE is currently awaiting Securities and Exchange Commission (SEC) regulatory approvals to finalise its demutualisation, which when received, will align the business with global best practices and enable their transition to a new corporate structure.

T R A D E D MAIN BOARD

A S

Meanwhile, reviewing the transactions on the exchange in 2020, Onyema said market turnover saw an uptick of 7.25 per cent , from N0.96 trillion in 2019 to N1.03 trillion in 2020.

He explained that for the second consecutive year, equity market transactions were dominated by domestic investors, who accounted for 65.28 per cent of market turnover by value while foreign portfolio investors ac-

O F

counted for 34.72 per cent.

The CEO said the Initial Public Offering (IPO)activity in the year remained mute as prospective issuers weighed market volatility and valuation concerns amid the pandemic.

However, the value of supplementary issues increased dramatically from the previous year, rising by 851.37 per cent to N1.42 trillion, from N148.77 billion in the previous year.

1 9 / 0 1 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

WEDNESDAY, JANUARY 20, 2021 ˾ T H I S D AY

MARKET NEWS

Investors Get N17m Compensation, N305m Restitution Goddy Egene

The Nigerian Stock Exchange

(NSE) compensated a total of N17.02 million to 49 investors/ claimants in 2020 under its

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

Investor Protection Fund(IPF).

The Chief Executive Officer of the NSE, Mr. Oscar Onyema,

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 18Jan-2021, unless otherwise stated.

who disclosed this yesterday said the exchange also facilitated the restitution and recoveries of

shares worth N305.11 million for investors. According to Onyema, the compensation

and recoveries were made due to the exchange’s strategic focus on protecting investors.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 1.08 1.10 19.85% ACAP Income Funds 0.74 0.74 0.20% 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 1.02% AIICO Balanced Fund 3.59 3.73 0.75% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.63% Anchoria Equity Fund 136.97 137.42 2.36% Anchoria Fixed Income Fund 1.30 1.30 -2.31% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.10 19.68 24.70% ARM Discovery Balanced Fund 401.18 413.27 16.14% ARM Ethical Fund 35.06 36.12 20.56% ARM Eurobond Fund ($) 1.22 1.22 21.95% ARM Fixed Income Fund 1.11 1.11 10.80% ARM Money Market Fund 1.00 1.00 0.42% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 132.05 132.98 4.66% AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 0.02 0.00 2.00% Paramount Equity Fund 16.66 16.98 4.21% Women's Investment Fund 136.27 137.86 2.40% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 0.78% Cordros Milestone Fund 2023 133.40 134.29 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 109.03 109.03 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.63% Coronation Balanced Fund 1.20 1.21 0.12% Coronation Fixed Income Fund 1.59 1.59 0.10% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Balanced Fund 188.76 190.19 0.58% FBN Halal Fund 111.56 111.59 0.03% FBN Money Market Fund 100.00 100.00 0.99% FBN Nigeria Eurobond (USD) Fund - Institutional 122.67 123.15 0.89% FBN Nigeria Eurobond (USD) Fund - Retail 122.81 123.29 0.88% FBN Smart Beta Equity Fund 157.38 159.78 4.10% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,861.93 3,912.49 2.83% Coral Income Fund 3,318.38 3,318.38 1.60% FSDH Treasury Bills Fund 100.00 100.00 2.15% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 0.98% Nigeria Entertainment Fund 129.55 129.02 20.71%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 1.08% Vantage Balanced Fund 2.90 2.96 32.49% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 157.02 157.98 9.61% 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 1.45 1.47 0.69% Lotus Halal Fixed Income Fund 1,161.07 1,161.07 0.66% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.65 1.68 7.27% PACAM Fixed Income Fund 12.23 12.34 8.93% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.64 1.66 PACAM EuroBond Fund 108.59 111.08 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 134.79 137.52 9.34% 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 1.00 1.00 0.35% 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 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.42 1.44 3.65% United Capital Bond Fund 1.90 1.90 0.20% United Capital Equity Fund 0.91 0.94 5.04% United Capital Money Market Fund 1.00 1.00 1.50% United Capital Eurobond Fund 117.42 117.42 0.29% United Capital Wealth for Women Fund 1.10 1.11 1.14% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.52 12.65 5.58% Zenith Ethical Fund 13.89 13.96 13.49% Zenith Income Fund 24.10 24.10 0.53% Zenith Money Market Fund 1.00 1.00 1.98%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

120.87

0.11%

52.46

0.11%

Bid Price

Offer Price

Yield / T-Rtn

13.30 127.99 100.45

13.40 127.99 102.65

0.60% 5.13% 1.25%

Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.28

4.32

12.68%

Vetiva Consumer Goods Exchange Traded Fund

5.99

6.07

5.18%

Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund

18.05 1.00 20.43

18.15 1.00 20.63

10.18% 0.87% -0.42%

194.71

196.71

-12.54%

NAV Per Share

Yield / T-Rtn

107.71

13.11%

Fund Name Vetiva Banking Exchange Traded Fund

Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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WEDNESDAY JANUARY 20, 2021 ˾ T H I S D AY

INTERNATIONAL

History as Joe Biden Takes Office Today He was elected a New Castle County Councillor in 1970 and became the fifth youngest senator in American history when he was elected to the US Senate from Delaware in 1972, at the age of 29.

He eventually served from 1972 to 2008. His two attempts at the presidency in 1987 and 2008 did not make any headway. But divine providence shone on him when he was literally tapped on the shoulder by Barack Obama to be his Vice President in 2008 and served till 2015. Even when he had a clear opportunity to contest in 2014, he turned it down for personal reasons. Just when everyone thought his presidential ambition had dimed at almost 78 years, divine providence again shone on him on his third attempt. Today, Joe Biden has made history as he takes office as the 46th President of the United States of America, Ugo Aliogo writes with agency report Joe Biden briefly worked as an attorney before turning to politics. He became the fifth-youngest U.S. senator in history as well as Delaware’s longest-serving senator. His 2008 presidential campaign never gained momentum, but Democratic nominee Barack Obama selected him as his running mate, and Biden went on to serve two terms as the 47th vice president of the United States. In 2017, at the close of his administration, Obama presented Biden with the Presidential Medal of Freedom. Two years later Biden launched his campaign for U.S. president and was elected as the 46th president of the United States.

Early Political Career After graduating from law school in 1968, Biden moved to Wilmington, Delaware, to begin practicing at a law firm. He also became an active member of the Democratic Party, and in 1970 he was elected to the New Castle County Council.

While serving as councilman, in 1971, Biden started his own law firm.

In addition to his increasingly busy professional life, Biden had three children: Joseph “Beau” (born in 1969), Robert “Hunter” (born in 1970) and Naomi “Amy” (born in 1971).

“Everything was happening faster than I expected,” Biden said about his life at the time.

In 1972, the Delaware Democratic Party encouraged a 29-year-old Biden to run against the popular Republican incumbent J. Caleb Boggs for the United States Senate.

Although few thought he stood any chance, Biden ran a tireless campaign organized mostly by family members. His sister, Valerie Biden Owens, served as his campaign manager, and both of his parents campaigned daily. That November, in a tight race with a large turnout, Biden won an upset victory to become the fifth-youngest U.S. senator elected in the nation’s history.

Senate Years From 1973 to 2009, Biden served a distinguished Senate career. During his time in the Senate, Biden won respect as one of the body’s leading foreign policy experts, serving as chairman of the Committee on Foreign Relations for several years. His many foreign policy positions included advocating for strategic arms limitation with the Soviet Union, promoting peace and stability in the Balkans, expanding NATO to include former Soviet-bloc nations and opposing the First Gulf War. In later years, he called for American action to end the genocide in Darfur and spoke out against President George W. Bush’s handling of the Iraq War, particularly opposing the troop surge of 2007.

In addition to foreign policy, Biden was an outspoken proponent of tougher crime laws. In 1987, Supreme Court nominee Robert Bork’s failure to receive confirmation was largely attributed to harsh questioning by Biden, who

Biden was then chairman of the Senate Judiciary Committee.

In 1994, Biden sponsored the Violent Crime Control and Law Enforcement Act to add 100,000 police officers and increase sentences for a host of crimes.

Presidential Ambitions In 1987, having established himself as one of Washington’s most prominent Democratic lawmakers, Biden decided to run for the US presidency. He dropped out of the Democratic primary, however, after reports surfaced that he had plagiarised part of a speech.

Biden had been suffering severe headaches during the campaign, and shortly after he dropped out in 1988, doctors discovered that he had two lifethreatening brain aneurysms.

Complications from the ensuing brain surgery led to blood clots in his lungs, which, in turn, caused him to undergo another surgery. Always resilient, Biden returned to the Senate after surviving a seven-month recovery period.

Vice President In 2007, 20 years after his first unsuccessful presidential bid, Biden once again decided to run for the US presidency.

Despite his years of experience in the Senate, however, Biden’s campaign failed to generate much momentum in a field dominated by Hillary Clinton and Barack Obama. Biden dropped out after receiving less than one per cent of the vote in the crucial Iowa caucuses.

Several months later, though, Obama—having secured the Democratic nomination after a hard-fought campaign against Clinton—selected Biden as his running mate. With his working-class roots, Biden helped the Obama campaign communicate its message of economic recovery to the blue-collar voters crucial to swing states like Ohio and Pennsylvania.

On November 2, 2008, Barack Obama and Joe Biden convincingly defeated the Republican ticket of Arizona Senator John McCain and Alaska Governor Sarah Palin.

On January 20, 2009, Obama was sworn in as the 44th US president and Biden became the 47th vice president.

Re-election and Second Term Running for re-election in 2012, the Obama-Biden team faced Republican challenger Mitt Romney, a former governor of Massachusetts, and Romney’s vice-presidential running mate, Paul Ryan of Wisconsin. Obama defeated Romney in the 2012 election, earning a second term as president and Biden another term as vice president. President Obama received nearly 60 percent of the electoral vote, and won the popular vote by more than 1 million ballots.

Later that year, Biden showed just how influential a vice president he could be. He was instrumental in achieving a bipartisan agreement on tax increases and spending cuts to avoid the fiscal cliff crisis.

With a looming deadline, Biden was able to hammer out a deal with Senate Minority Leader Mitch McConnell. On January 1, 2013, the fiscal cliff bill passed in the Senate after months of tough negotiations. The House of Representatives approved it later that day.

Around this time, Biden also became a leading figure in the national debate about gun control. He was selected to head up a special task force on the issue after the school shooting at a Newtown, Connecticut elementary school that December. Biden delivered solutions for reducing gun violence across the nation to President Obama in January 2013. He helped craft 19 actions that the president could take on the issue using his power of executive order among other recommendations.

Personal Life and Post-White House Biden has been married to his second wife, Jill Biden, since 1977. The couple’s daughter, Ashley, was born in 1981. On May 30, 2015, Biden suffered another personal loss when his son Beau died at the age of 46, after battling brain cancer.

“Beau Biden was, quite simply, the finest man any of us have ever known,” Biden wrote in a statement about his son.

Following this tragedy, Biden considered a run for the presidency, but he put the speculation to rest in October 2015 when he announced that he would not seek the 2016 Democratic nomination. In the White House Rose Garden with his wife Jill and President Obama by his side, Biden made his announcement, referring to his son’s recent death in his decision making: “As my family and I have worked through the grieving process, I’ve said all along what I’ve said time and again to others, that it may very well be that the process by the time we get through it closes the window. I’ve concluded it has closed.”

2020 Presidential Campaign On April 25, 2019, Biden delivered the expected news that he was running for president in 2020.

In his 3 1/2-minute video announcement, the former VP referenced President Trump’s attempt to equate people on both sides of the violent, racially charged clash in Charlottesville, Virginia, in 2017, saying he knew then that “the threat to our nation was unlike any I’d ever seen in my lifetime.”

Although he easily led most Democratic polls at the time he entered the race, Biden’s candidacy soon became a litmus test for a party with an increasingly progressive base.

Underscoring the challenges of presenting himself as a

moderate, Biden drew criticism for affirming his support of the Hyde Amendment, a 43-yearold measure that banned federal funding for abortions, before reversing his position shortly afterward.

During the first Democratic primary debate in late June, Biden again found his track record targeted when Kamala Harris took him to task for his opposition to busing as a means of integrating schools in the 1970s. He fared better in subsequent debates, in which he demonstrated his sound grasp of foreign policy and tied his accomplishments to those of President Obama.

Meanwhile, a new issue surfaced in September 2019 with the revelation that President Trump had pressured the Ukrainian government into investigating Biden and his son Hunter. This stemmed from Hunter’s former involvement with a Ukrainian energy company, Burisma Holdings, and Biden’s efforts to have the country’s prosecutor general at the time fired.

In a September 24 speech, Biden called Trump’s actions an “abuse of power” and said he would support impeachment if the president did not cooperate with Congress, a topic that took on additional urgency when House Speaker Nancy Pelosi ignited impeachment proceedings that same day.

After Trump’s impeachment trial ended with his acquittal on February 5, 2020, Biden finished fourth in the Iowa caucuses and then fifth in the New Hampshire primary. But he rebounded with a resounding win in South Carolina at the end of the month, and continued his momentum by claiming the majority of delegates from Super Tuesday voting in early March, his surge driving most of his top competitors from the race.

During a one-on-one debate with Sanders in mid-March, Biden committed to nominating

a woman to serve as his vice president. He became the presumptive Democratic nominee when Sanders ended his campaign in early April, though he also found himself facing new allegations of sexual assault, this time from a former aide named Tara Reade.

On August 11, 2020, Biden announced Kamala Harris as his vice presidential running mate. “I have the great honor to announce that I’ve picked Kamala Harris — a fearless fighter for the little guy, and one of the country’s finest public servants — as my running mate,” Biden said. “Back when Kamala was Attorney General, she worked closely with Beau.

I watched as they took on the big banks, lifted up working people, and protected women and kids from abuse. I was proud then, and I’m proud now to have her as my partner in this campaign.”

In August, Biden officially became the 2020 Democratic presidential nominee.

2020 Election Win With several states counting mail-in ballots well past the close of polling places on November 3, 2020, the race remained too tight to call into the next day. However, the tide began shifting in Biden’s favour with the announcements of his victories in Wisconsin and Michigan, along with reports of his leads in Arizona, Nevada and Georgia. Meanwhile, President Trump launched a series of lawsuits that alleged voter fraud and sought to halt the counting in battleground states.

On November 7, 2020, four days after election day, Biden was declared as the 46th president-elect after winning Pennsylvania. Along with earning a record 81 million-plus votes, he would be sworn day as the oldest president in the nation’s history.

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Inauguration Day: From Oath-taking to Honouring COVID-19 Victims Joe Biden will be sworn in today as the 46th President of the United States, during a day steeped in tradition and ceremony that nonetheless has been altered due to the pandemic and tight security after the January 6 attack on the Capitol.

Biden and his wife Jill spent Tuesday night in the lavish Blair House, located opposite the White House on Lafayette Square, that the US government uses to host special guests and visiting dignitaries.

On Wednesday morning Biden, a devout Catholic, will attend Mass at St Matthews church in Washington, and has invited Congressional leaders from both political parties.

Senator Mitch McConnell and Congressman Kevin McCarthy will represent the Republicans, while Democratic Senator Chuck Schumer and Congresswoman Nancy Pelosi will also attend, sources have told AFP. Biden will then travel in a motorcade to the Capitol, the site of the January 6 riot by supporters of outgoing President Donald Trump,

where the inauguration ceremony gets underway at 11:00 am (1600 GMT).

He will be sworn in after Vice President-elect Kamala Harris takes her vow, then will give his inaugural speech, during which he is expected to outline his vision to tackle America’s multiple crises and his plan to “build back better.”

The National Mall that runs from the Capitol to the Lincoln Memorial will be closed due to Covid-19 fears and because of tight security stemming from the January 6 attack.

Lady Gaga is due to sing the national anthem, while Jennifer Lopez is also set to give a musical performance.

As is custom, the newly inaugurated 46th US president will then dine with members of Congress in the Capitol building.

In the afternoon, Biden will head to Arlington National Cemetery just outside Washington to place a wreath on the Tomb of the Unknown Soldier, accompanied by former presidents Barack Obama, George W. Bush and Bill Clinton. Trump, who is shunning the day’s events, will not be there.

From Arlington, Biden will travel by motorcade to the White House and is expected make the last part of the journey on foot and enter his new home surrounded by a military cordon.

Biden is due to sign his first executive orders shortly after arriving.

At 8:25 pm, Biden and Harris will give a speech at the Lincoln Memorial, honoring the 400,000 people

that have died from Covid-19 in America.

Shortly after, actor Tom Hanks will host a show called “Celebrating America” that will be broadcast on all major US

networks.

Jon Bon Jovi, the Foo Fighters, John Legend, Demi Lovato, Bruce Springsteen, Justin Timberlake and Luis Fonsi are among the guests expected to perform.

How Much is Joe Biden Worth?

Joe Biden may be known to some by the nickname Middle-Class Joe, but the former vice president and current president-elect is actually a millionaire, many times over. At the start of his 2020 presidential campaign Biden released his financial information—disclosures as well as state and federal tax returns for 2016, 2017, and 2018—and based on those forms, Forbes estimates that he has a net worth of $9 million.

Ahead of his fast approaching inauguration on January 20, take a look back at how he earned that fortune.

Before Biden became Vice President, he served as a Senator from 1973 to 2009. Over the course of his tenure, his salary increased from $42,500 per year to $174,000 per year, according to the

Senate’s historical records.

When he was elected Vice President, he got another raise, earning roughly $230,000 a year.

Since leaving office, Biden has made a hefty sum off of book deals and speaking engagements.

As recently as November 2009, Joe Biden’s net worth was less than $30,000, according to CBS, but life post-vice presidency has been quite lucrative for President Obama’s former number two. When Biden released his financial disclosures in July of 2019, they showed that he and his wife Jill had earned more than $15 million in 2017 and 2018.

More specifically, the Bidens reported an adjusted gross income of roughly $11 million in 2017 and $4.6 million in 2018.

The bulk of that number

comes from a multi-book deal with Flatiron Books valued at $8 million per Publishers Weekly, but the Bidens also earned a sizable income from speaking engagements.

The AP reports that Biden’s basic speaking fee was $100,000, but it ranged from $40,000 to $190,000.

The New York Times also notes that Biden made additional unpaid speaking engagements during this time which are not listed on the disclosure, citing his campaign.

Additionally, the disclosures reveal that the former VP earned $540,000 as a professor at the University of Pennsylvania’s Penn Biden Center for Diplomacy and Global Engagement.

The bulk of the Biden’s wealth is in real estate, but they have a portfolio of

investments too. Per Forbes, the Bidens’ two homes in Delaware are worth a combined $4 million. The site also notes that they have “cash and investments worth another $4 million or so” as well as a $1 million federal pension.

Biden’s presidential salary will be $400,000 per year.

The United States also affords its Commanderin-Chief a $50,000 expense allowance “to assist in defraying expenses relating to or resulting from the discharge of his official duties.” His wife, Dr. Jill Biden also recently shared that she will continue to teach at community college when her husband is in the White House. “It’s important,” she said, “and I want people to value teachers and know their contributions, and lift up the profession.”

WEDNESDAY JANUARY 20, 2021 ˾ T H I S D AY

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24 HOURS...

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Sanwo-Olu Asks Lagos Residents to Consider Malaria-like Symptoms as COVID-19 Infection Following the increase in number of recorded cases of COVID-19 in Nigeria, Lagos State Governor, Mr. Babajide Sanwo-Olu yesterday said that any malaria-like symptoms should henceforth be considered as COVID-19 virus infection unless and until otherwise proved.

He therefore advised that anyone with such symptoms should proceed to any of the state’s public health facilities or laboratories to get tested for free, noting that “seeking help early and quickly significantly improves

the chances of survival for severe to critical cases.”

Speaking during a press conference on COVID-19 update at the Lagos House, Ikeja, Sanwo-Olu said it is important that Lagos State residents begin to learn to live and act responsibly, in order to augment the government’s efforts and previous success of flattening the curve.

He also said that the increase in the positivity of virus cases in the second wave has necessitated the greater amount of oxygen for

the moderate to severe cases of admission in all the isolation centres.

He said the alarming trend of COVID-19 has necessitated the reopening of some of the previously closed isolation centres, such as the INDO Isolation Centre and Gbagada Isolation Centre to contain the rising cases and re-flattening the curve in the shortest possible time.

“Over the last few weeks, the demands for oxygen has risen from 70 six-litre cylinders per day to 350 six-litre cylinders in our Yaba Mainland Hospital. This is projected to more than double to 750 six-cylinders, before the end of January 2021. “ln addition to providing oxygen at our isolation centres, the Lagos State Government has decentralized the availability of

oxygen across the State through the provision of 10 oxygen and sampling kiosks. Oxygen therapy and other related services will be provided to patients that require them.

“Five of these 10 oxygen centers have been commissioned while the remaining five will be ready for use within the next four weeks.

It is our expectation that these sampling kiosks would be easily

accessible to residents that require oxygen therapy at the level of LGAs as stabilization points prior to onward transmission to our Isolation centres, if required.

“This strategy is to further increase the fighting chance of Lagos residents that have contracted the virus and require immediate oxygen therapy,” he said.

AfCFTA: Customs Awaits NAC Directives on Tariffs, Waivers James Emejo in Abuja The Nigeria Customs Service (NCS), yesterday stated that it is waiting for clear directives from the National Action Committee (NAC) on implementable tariffs for all goods covered by the African Continental Free Trade Area (AfCFTA) agreement.

President Muhammadu Buhari had on July 28, 2019, approved the establishment of the NAC, for the implementation of the AfCFTA’s agreement that he signed on behalf of the country at the 12th Extraordinary Session of the African Union Heads of State on July 7, 2019, in Niamey, the Republic of Niger.

The NCS, however, pointed out that the NAC is required to provide it with the list of duties and charges waived for liberalised goods under the AfCFTA; the list of the 90 per cent liberalised national trade offers; the list of 70 per cent non-liberalised exclusive goods at the regional level and the list of three per cent non-liberalised sensitive goods.

A statement by its Spokesman of the NCS, Mr. Joseph Attah, however, assured the public of its preparedness to fully deploy its services at the shortest notice.

The customs’ clarification came amidst concerns over the seeming tardiness and preparedness of Nigeria to hit the ground running following the launch of AfCFTA on January 1.

The customs also stated that it is looking forward to the appointment of a competent

authority that would be responsible for issuing and authenticating certificates of origin and registering enterprises and products within the region.

Attah said: “Our desire is to imbue trust in the system while guaranteeing the economic safety and wellbeing of businesses within the country.

“Sequel to the ratification of the AfCFTA by member nations, the NCS has found it pertinent to inform the public about steps which must be taken to enable its smooth and full implementation.

“Instead of proceeding in a chaotic manner, the NCS as policy implementer understands the importance of spelling out the roles and responsibilities of all parties in this agreement and the conditions attendant on its implementation.

“We wish to re-confirm our willingness and readiness to play our role as trade facilitators in this regard. However, we also wish to remind the public that our functions are highly automated and primarily systems driven.

Hence the need to methodically harvest and integrate all data associated with the AfCFTA into our system for easy deployment, access and use by the trading public.”

The service further recommended that each member country should have a representative in the continental chamber of commerce to ensure transparency within the body thereby generating confidence in the system.

Prof Ibemesi Dies at 78 The death has occurred of Emeritus Prof. John Akolisa Ibemesi, a former dean of the Faculty of Physical Sciences, University of Nigeria, Nsukka.

According to a statement signed by the son-in-law, Dr. Ike Iyioke, he passed away on December 19, 2020 after a brief illness.

He was 78 years.

Ibemesi was an eminent scholar who had many academic awards, recognitions and scholarly publications in the areas of Physical and Polymer Chemistry.

Until his demise, he was the Head of Department of Chemistry at Caritas University, Enugu.

He is survived by his wife, Prof. (Mrs.) Felicia Ibemesi, eight children and 17 grandchildren among whom are Dr. Ifeoma Iyioke of Michigan State University and Tochukwu Ibemesi.

He will be buried on February 26, 2021 at his homestead, Eziaja Village in Neni, Anaocha LGA of Anambra State.

WE STAND WITH NDDC…

L-R: Chairman, Elders Forum, Oron Union, Unity Branch, Abuja, Prof. Edet Ekerendo; President, Oron Union, Abuja Chapter, Mr. Remigius Edebianga; and General Secretary of the union, Mr. Asukwo Unuyu, during the press briefing by the union on Niger Delta matters in Abuja … yesterday ENOCK REUBEN

BEDC Drags NERC to Court over Planned Licence for Asaba Distribution Emmanuel Addeh in Abuja The Benin Electricity Distribution (BEDC) has dragged the Nigerian Electricity Regulatory Commission (NERC) to court over the regulator’s plan to grant an operating licence to Asaba Distribution Limited (ADL).

Following the petition to the regulator by Benin Disco, the regulatory agency for the power sector, had fixed yesterday, January 19 for the hearing of the petition which sought to stop the release of an Independent Electricity Distribution Network Licence to the firm.

While setting out modalities for resolution of the issue, NERC stated that the hearing was pursuant to Section 70 (2) of the Electric Power Sector Reform Act (EPSRA).

According to the commission, it was also in line with clause

as determined by the commission,” NERC stated.

However, in a statement halting the planned hearing, NERC disclosed that it had been sued

by Benin Disco over the matter, noting that it would be in breach of the law if it continued to sit over the matter.

While announcing the indefinite deferment of the sitting which was planned to resolve the matter, the regulatory agency described the suit as premature and against public interest.

NERC stated: “The commission hereby notifies the public of the indefinite postponement of the hearing that was scheduled for January 19, 2021 for the consideration of the petition filed

by Benin Electricity Distribution Plc (BEDC) against the issuance of an independent electricity distribution network (IEDN) licence to Asaba Distribution

Limited (ADL).

“The hearing has been postponed because BEDC filed a suit at the Federal High Court (Suit No: FHC/ABJ/CS/36/2021) on January 15, 2021 against the commission and ADL and the suit seeks, amongst other reliefs, an order of perpetual injunction restraining the commission from granting an IEDN licence to ADL to operate within BEDC’s electricity distribution area.

“The court processes were served on the commission on January 18, 2021 and arrangements have been made for the defence of the suit which the commission believes is premature and has been instituted in bad faith against the overall public interest as all administrative remedies available to the parties have not been exhausted.”

Lagos Govt Approves Harley and Rainbow Laboratories as COVID-19 Testing Centre Sunday Okobi

Ibemesi

11 of the NERC Application for Licences Regulations 2010, and section 17 of NERC (Business Rules of the Commission) Regulations (Business Rules) 2006.

The regulator stated that the petition would be heard and determined by a panel of three commissioners of the commission yesterday.

“In compliance with Section 45 of EPSRA and Section 17 of the Business Rules, the commission has resolved that the petition/ objection filed by BEDC against the granting of the application of ADL, shall be heard by a panel of three commissioners as stipulated in section 17 (3) of the Business Rules.

“The conduct of the hearing shall be in accordance with the business rules of the commission and further procedural rules relevant to the conduct of hearings

Harley and Rainbow Laboratories, which has been licenced and accredited by the Lagos State Government and Nigerian Centre for Disease Control (NCDC), has been approved to offer specialised laboratory tests, including COVID-19 PCR tests to the public, especially travellers.

According to the Administrative Manager of the health laboratory, Omolabake Amuni, in a statement made available to THISDAY yesterday, the laboratory has made it one of its mandates to ensure

that the state and country attain a pandemic-free status through its contributions in offering quick and reliable results.

He noted that test results are returned to patients through the company’s online portal and electronic delivery system.

Amuni said: “The operation is in strict adherence to approved regulations by the NCDC as the results are acceptable nationally and internationally, being one of the few accredited private laboratories in Lagos State for COVID-19 PCR testing”.

The lab administrator added

that in order to cover Lagos State, “the laboratory is currently in three locations- Adeniyi Jones Avenue, opposite Lagoon Hospital in Ikeja; Lekki drive-thru centre at IAS Cargo warehouse, Lekki-Epe Expressway, and a sample collection centre at Class Motor Complex, Lekki-Epe expressway, Ajah.”

Amuni in the statement noted that: “The laboratory, which is equipped with fully automated biosafety laboratory system for PCR testing with the capability to deliver results within 24hours,

is able to screen the following categories with the options of walk-in or home sample collection service.

“The categories include corporate organisations, individuals, schools, families, domestic staff, hospitals patients who need confirmation for suspected cases, among others in response to the urgent need of fast diagnosis to forestall the rapid spread of the disease as the country is currently facing the deadly second wave of the COVID-19 pandemic.”

WEDNESDAY JANUARY 20, ͺ͸ͺ͹˾ T H I S D AY

46

WEDNESDAYSPORTS

Group Sports Editor ßÜÙ ÕÒËäßËÑÌÏ Email ÎßÜÙ˛ÓÕÒËäßËÑÌÏ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ× ͸΀͹͹ ͹΀͹ ͻ͸΀ͻ

Former Sports Minister, Ka’oje, Dies at 60, Buried in Abuja Nigeria’s sporting fraternity was thrown into grief once again as the death was announced on Tuesday morningof the former Minister/Chairman, National Sports Commission, Hon. Bala

Late Bala Ka’oje

Bawa Ka’oje. He was 60 years of age.

In a condolence message to the Ka’oje family, Minister of Youth and Sports Development, Mr Sunday Dare, described the death of former Sports Minister as “a huge loss to not only his family and friends, but the country at large.”

In a statement issued by the media office of the minister, Mr Dare said: “Shocking to learn about the death of former Minister of Youth and Sports Development, Engineer Bala Bawa Kaoje. So sad that Nigeria has lost a very illustrious son who served this country meritoriously. His death has robbed Nigeria of another

bright mind and committed public servant. This is not just a loss to his family and friends, but the country in general.

He made his mark while serving as Minister of Youth and Sports. He was a multitalented man who served his people and the country with all his mind and might. May God console his family and grant him eternal rest” Similarly, the Nigeria Football

Federation (NFF) expressed its shock and sadness at the passing of the former Minister, with the NFF General Secretary, Dr Mohammed Sanusi describing the deceased as “a dignified and unassuming public servant who showed great passion and interest in the development and improvement of Nigeria sports.

“Quietly intelligent, diligent and a man of high integrity, Ka’oje is on record to have

conveyed to then NFA (for onward conveyance to world football –governing body, FIFA) in February 2007, the abrogation of Decree 101 hitherto governing the administration of football in Nigeria, and government’s recognition of the approval by then NFA’s Annual General Meeting of the Statutes and its standing orders as the sole regulatory instrument for football administration in Nigeria.”

Born in Kebbi State on 20th September 1960, Bala Bawa Ka’oje earned a master’s degree in structural engineering from the Ahmadu Bello University, Zaria.

His remains were interred in Abuja on Tuesday afternoon.

The NFF was represented by the General Secretary, Dr Mohammed Sanusi and Head of Member Associations, Ali Abubakar Muhammed.

Shooting Stars Return to Classroom Ahead of NNL Season Duro Ikhazuagbe Players and coaches of Shooting Stars Sports Club (3SC) of Ibadan returned to classroom again yesterday in Ijebu-Ode as part of their preparations for the commencement of the Nigerian National League (NNL) season scheduled to kick off on January 30.

The management of the Oluyole Warriors dragged both players and their technical officials back into classroom to refresh their brains with some basic rules of the game after they were kept away for close to one year due to the Covid-19 pandemic.

The organisation of the session, according to the Team Manager of the Oluyole Warriors, Dimeji Lawal (MON), “was to help prepare the players

mentally and psychologically, in addition to their physical fitness, ahead of the NNL season, starting on January 30.”

Lawal said:, “It was a session well-enjoyed by the players as well as all the officials, as they described it as a worthwhile exercise which opened their eyes to many facts” This decision to restart Nigeria’s second tier league was reached at the Annual General Meeting of the NNL which held in the Ebonyi State capital, Abakaliki on Friday.

Shooting Stars are to compete in Southern Conference B1 along with Go Round FC, Stores FC, Dynamite FC, Delta Force FC, Nilayo FC, Nnewi United FC, Vandrezzer FC, Ekiti United FC, Rovers FC, Giant Brillars FC and Akajobi FC for the lone slot available from the group.

Female Cricketers will Make Nigeria Proud Soon, Says Ukwenya President of Nigeria Cricket Federation, Professor Yahaya Ukwenya, has said that the entry of almost 300 female cricketers from 21 states of the federation at the on-going PwC National Under-17 Cricket Championship bodes well for the country as a whole.

According to him, “The effort that has been invested at the state level to raise these players to the competitive stage will be taken to a higher level at the national stage.

“In our five strategic imperatives that we set from the beginning of this administration; making a conscious effort to allow equal development along gender lines was key for us,” stressed the NCF president.

Ukwenya also added that some states created upsets to underscore the hard work and passion they brought to the regional event which held AST weekend.

“Example is Ekiti State that shoved aside Oyo State to become the regional champions in the South-west. They also humbled Lagos State in the last

match to prove that the growth of the game is not exclusive to major cities anymore.

“We also had Kogi State girls showing brilliance to dominate the North-central region where FCT, Kwara, and Niger states also competed,” he said.

The NCF president said some exceptional talents have also been spotted that are good drafts to the national U-19 Female and the senior women’s teams.

These developments, Ukwenya believes would position the country for a good run in the continent in no distance future.

Secretary-General of the Federation, Taiwo Oriss, added that these talents will now deepen the technical team’s robust pool to select from when national trials are scheduled for any of the tournaments.

“Despite following the strict Covid-19 protocols, the regional finals for the girls last weekend have been, perhaps, the best we have had in recent time. We hope to step up the conditions when the boys’ regional event gets underway in the coming weekend,” he hinted.

Wilfred Ndidi (2nd left) firing the 20-yard cracker that earned Leicester City the opening goal of their 2-0 defeat of Chelsea... last night

Ndidi Fires Leicester City to Top of Premier League Femi Solaja with agency report Nigerian international, Wilfred Ndidi, last night fired Leicester City to the top of the Premier League table and increased the pressure on struggling Chelsea Manager Frank Lampard with an impressive 2-0 victory at The King Power Stadium.

The Foxes knew a win of any sort would see them overhaul Manchester United to the summit of the English topflight.

And that exactly was what Ndidi set them on course doing just six minutes into the game when he fired a 20-yard cracker with his weak left leg to the inside of the far right post of Senegalese Chelsea goalkeeper, Edouard

Mendy.

Ndidi had similarly scored against the Blues last season.

Chelsea rarely threatened, although they were denied a first-half penalty by VAR when Christian Pulisic went down under a challenge from Jonny Evans, only for the technology to confirm the offence took place just outside the area.

Coach Lampard’s misery was swiftly reinforced as Leicester City broke clear to add a second four minutes before the break when James Maddison swept a cool finish past Chelsea’s Mendy on the half-volley from Marc Albrighton’s pass.

Chelsea barely raised a gallop after the break and it was Leicester who created the better openings as James Justin headed wide when unmarked

and Mendy saved from Youri Tielemans.

Leicester are now a point ahead of Manchester United having played a game more on 38 points from 19 matches while Chelsea are in eighth, five points off the Champions League places.

Earlier in the day, Leicester Manager, Brenda Rodgers had sang sweet words about his prized Nigerian holding midfielder Ndidi.

In an interview on Leicester website, Rodgers sounded a note of warning to top clubs aiming to sign Super Eagles’ midfield supremo, insisting that the Foxes will not let go their prized player for anything less than £150million.

Although the current market value of players have dropped considerably owing to the pandemic, Rodgers said in

that interview that the AFCON 2019 bronze medal winner with Nigeria in Egypt remains one of the most valued midfielders in the world today.

“Ndidi could probably worth £150million and I’m happy he is having a good combination with Youri Tielemans because they complement each other and this has helped the club this season,” the former former Liverpool gaffer told the club’s website yesterday.

He noted that Ndidi has formed a productive partnership with the Belgian star despite their contrasting playing styles.

Their understanding has helped the King Power Stadium outfit win 12 Premier League games this season to ensure their climb to the top of the log.

Gov Diri Seeks Private Sector Support for Sports Bayelsa State Governor, Senator Douye Diri, has stressed the need for the private sector to complement government’s effort in sports development.

Speaking at the Theatre of Dreams in Yenagoa on Monday during the finals of the three-day Baraza-sponsored Champion of Champions Wrestling Competition, Governor Diri noted that the importance of sports development cannot be over-emphasised as it has the capacity to engage youths positively.

A statement by his Chief Press Secretary, Mr. Daniel Alabrah, quoted the governor as hailing

the Commissioner for Youth and Sports, Hon. Daniel Igali, who is also president of the Nigeria Wrestling Federation, for setting up the facility in Yenagoa, which is the venue for the competition.

He said it would contribute greatly to the development of sports, particularly wrestling in the state.

Governor Diri also commended the Chief Executive Officer of Baraza Multipurpose Cooperative Society Limited, Pastor Miebi Bribena, for sponsoring the wrestling competition.

He called on well-meaning individuals, oil companies and other corporate organisations

to emulate Igali and Bribena by sponsoring different sporting activities as a way of reducing youth restiveness.

Diri congratulated the wrestlers that participated in the competition and urged them to combine sports with education.

He recalled the feat achieved by the Bayelsa State contingent to the 2006 National Sports Festival at Abeokuta during his time as sports commissioner and charged the state’s team to the next sports festival in Benin City next month to improve on the achievement recorded.

His words: “I believe that this is the only way sports will grow.

We have to take sports out of

government. Government has been in charge of every sports and our sports industry is not developing as fast as expected.

“So let me on behalf of the government appreciate you for this facility and today we are experiencing this very interesting competition. Commissioner after commissioner have contributed their bit to sports development. But you are not just a commissioner, you are a sportsman yourself being a wrestling champion.

“I believe that the record we set in Abeokuta, you would break it as we are expecting Bayelsa to be in the top three at the next National Sports Festival.

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KAYODEKOMOLAFE Trump, Product of American History T THE HORIZON

he whole world was stunned by the January 6 storming of the United States Congress by a mob inspired by President Donal Trump whose tenure expires this morning.

With that attack and subsequent events, what is happening today in Washington can hardly be described as a peaceful transfer of power.

Not with the nation’s capital looking like a war zone. Some have said the green zones in Iraq and Afghanistan were probably not as militarised.

After decades of fighting terrorism abroad, the United States may have begun to take seriously the threat of domestic terrorism, which, in any a case has always been a virulent organism in its political ecology. Whatever eventually happens, the militarisation that is a disturbing feature of the inauguration of Mr. Joe Biden as president would be remembered as the beginning of that process.

In effect, Trump has burst virtually all the time-honoured American norms.

Meanwhile, the responses to the horrific footages of what happened at the Capitol on that day have come from allies as well as those the United States regard as “adversaries” on the global stage.

In particular, the responses from Africa have a tinge of undue self-flagellation. For instance, some Nigerians simply echo the American critics that the criminal action of the extreme right-wing supporters of Trump was reminiscent of “third world” politics. Some have even said Trump must have some “African blood” in him to behave the way he has done in the last four years of American history.

Public intellectuals have indulged, perhaps unconsciously, in this baseless Africanisation of the Trumpian tragedy. This denigrating culture of tracing the ownership whatever that is horrible in human civilization to Africa should be categorically rejected by self-respecting Africans. There is simply no historical basis for this racist characterisation of the developments in American politics.

It is so unfortunate that out of sheer hunger for exogenous models, the African elite still looks for inspiration from even the ugly face of American liberal democracy.

Talking of historical parallels, there is no precedent for American citizens over-running the Capitol on the direction of the president.

When a similar thing happened in 1814, it was the British that burnt the White House. In the case of the January 6 invasion, Americans citizens violated the Capitol and five lives including that of a police officer were lost.

Trump is not totally an aberration in American politics. He is a product of the contradictions which have laced through the history of his nation across epochs. The man is both a symptom as well as the cause of what’s ailing the American society and polity. So, it would be undialectical to say that Trumpism has no deep roots in American history.

Yes, it is advisable in the situation that observers should not approach the verdict of history on Trump in haste. A lot still needs to be studied and understood about what is happening to America.

Reflecting on the Cold War the British military historian, Michael Howard, cautions as follows: “Instant judgment always tells us more about the person judging than the situation judged.”

In many respects Howard’s admonition is relevant in the American situation. After all, despite the incoherent campaigns he ran for the 2015 election, he won by virtue of majority of the electoral college votes even though

kayode.komolafe@thisdaylive.com

Trump his Democratic opponent, Hillary Clinton, had more popular votes. For all his serial assaults on American institutions and values, more than 70 million people still voted for Trump in the last year election. The number of his votes is the highest scored by a candidate coming second in presidential elections in America. He got the huge votes despite the unpardonable incompetence displayed in the management coronavirus crisis in which hundreds of thousands of Americans had died. He ignored science and politicised the pandemic. Can you imagine Barrack Obama with such a performance in his first term and still winning another election?

The political base of Trump is endemically racist. His fascist supporters still believe the lie that the election was “stolen.” As the mob showed with their confederates flags and hangman’s noose on the Capitol, they were inspired by the legacy of racism in America.

America may have electorally got rid of Trump for now; but the indications are that Trumpism would flourish for some time to come.

It is Trumpism that has crippled the moral strength of some Republicans in the Congress to defend the integrity of the institutions in which they are players. Trumpian enthusiasts have projected that the Trump’s fanatical base would determine the electoral fate of many politicians in the Republican Party. Now, the system of education that produced many of those who worship in the temple of Trump has been part of the American history.

Trump has legitimised racism by his words and action. But the systemic racism in the American society predates the Trump days.

Trump escalated the racial tension in the country. He called fascist elements attacking

Trumpism is a manifestation of the decay in the American political order… In four years, Trump has almost pulverised some American institutions

0805 500 1974

the Black Lives Matter protesters “good people.” He referred to the African continent as a “shithole.” He smiled at his supporters at a rally when they chanted “send them back” in response to some female American federal lawmakers of African origin who were critical of Trump’s shenanigans. These and other acts of Trump have only demonstrated in a more poignant way that America would have to come terms with the factor of racism that is deeply rooted in its history.

Last year, the Black Lives Matter movement drew attention to this question that has plagued the fabric of the American society for centuries. The voices of the multi-racial protesters reverberated in cities on both sides of the Atlantic. The memories of the Transatlantic Slave Trade were painfully evident during the protests.

The Trump campaign has contested the election in Georgia, Pennsylvania and Michigan more fiercely than other states. In those states the black votes are believed to be significant for Biden’s victory at the electoral college. The thugs who attacked the Capitol wanted to upend those votes in particular in favour of Trump. Trump asked an electoral officer in Georgia to “find” him some votes so as to defeat Biden!

Perhaps, the irony of the reference to 1876

by Republican lawmakers should not be lost on keen observers of the American scene. That year, a presidential election was disputed. The Democratic Party conceded the claimed votes of its candidate, Samuel Tilden to the Republican candidate, Rutherford Hayes. The federal government withdrew troops from the south that was under the control of the Democrats.

The bitter consequence of that compromise was the end of the Reconstruction Era. The promise by the Democrats to protect the civil liberties and political rights of the blacks were not eventually fulfilled. At that period of American history, the Democrats operated on a platform of white supremacy. At the end, many black people were disenfranchised.

Besides, even the anachronistic system of electoral college and subsequent approval by the senate smack of huge democratic deficits.

Why should the votes of people already counted by the legitimate election organisers be subject ultimately (even for ceremonious reasons) to the approval of a few citizens in the Senate.

Trump attempted to exploit the loopholes in this electoral circumlocution with the abortive coup of his thugs. Besides, it is less than democratic that the candidate with the highest popular votes could still lose the election. That was the fate of Al Gore in 2000 and Hillary Clinton in 2015; both of them were Democratic candidates.

This is unlike the Nigerian system in which a candidate with the highest number of votes and who scores 25% of votes in 2/3 of the states of the federation and the Federal Capital Territory is declared the winner. That appears a more straightforward and a more democratic process. By the way, it would be unthinkable in some quarters that there is anything America could learn from Nigeria. In such quarters, the natural order of things is for Nigeria to seek inspiration from America.

As a matter of fact, the turmoil of Trump’s final days was to some extent predictable; so also were the chaos and unpredictability that defined his administration that was largely run on Twitter.

The garrulous and incoherent campaigns of Trump spurred an observation in this column on November 16, 2015. That was a few days after the 2015 presidential election in the United

States in which Trump emerged the undisputed winner and Mrs. Clinton congratulated him.

The projection was made in the piece entitled “America’s Different Election,” as follows : “In no way could the last week election of Donald Trump as the president of the United States of America be called a tribute to liberal democracy. The months of campaigns preceding the unusual election witnessed an egregious debasement of the much-advertised liberal democratic ethos of the West. “With the emergence of Trump, America has lost his claims to moral leadership of the world.

“A nation having as its Commander-in-Chief a racist, bigot and misogynist, at once, cannot be universally accepted as a moral and political leader. America’s unsolicited lectures about liberal democratic values, decent elections, freedom, globalisation, civility, humanity etc. will henceforth loose some audience around the world.

As the African Legend, Fela Anikulapo-Kuti, would put it, the rest of the world (especially the emerging liberal democracies) might soon be telling America that ‘teacher, don’t teach me nonsense’.”

Incidentally, a year before Trump’s election there was the publication of a book by American political scientist Francis Fukuyama.

As if he had envisaged the emergence of Trump and the political disaster of his final days, Fukuyama identified the “decay” of the American political system in the book entitled Political Order and Political Decay.

The scholar puts the matter like this: “Decay by definition is occurring in the United States today, and is the result of the intersection of two forces. On the one hand, American society has changed. It has become more polarized and class-ridden; Americans are sorting themselves out residentially in ways that make it easier for politicians to appeal to ideologically pure positions on the left and right. At the same time, there has been a huge increase in the number and sophistication of interest groups, which have been liberated from constraints on their rights to spend money on political campaigns by a series of Supreme Court decisions.”

Trumpism is a manifestation of the decay in the American political order.

The old idea of the role of the individual in history should be brought to the fore in pondering the Trump presidency which, according some polls, has the lowest approval rating ever. The West used to lecture African countries that they should build “strong institutions” instead nurturing “strong leaders”.

In four years, Trump has almost pulverised some American institutions by infecting them with the virus of right-wing populism. The symptoms of institutional decay could be seen in police officers implicated in the attack on the Capitol. The virulent ideas have become so penetrating in American institutions that the National Guard had to be screened by another security agency because some men in uniforms were suspected to have links with the fascists.

Doubtless, strong institutions are important; so is the strength of character of the leader.

One lesson of the Trump era is that, over and by all things, a president should inspiringly give moral and political leadership in the substance and style of governance.

Racial and class divisions have always been part of American history. Trump has only worsened these contradictions.

President Biden, therefore, has his job cut out for him: he should work sincerely for the unity of his nation on the basis of social justice and in an atmosphere of peace.

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