THURSDAY 23RD JANUARY 2025 by THISDAY Newspapers Ltd

Tinubu, AbdulRasaq, Mbah, Abiodun, Oborevwori, Diri,

Obaseki,

Ambode

Hail THISDAY on 30th Anniversary

President praises newspaper's commitment to ideals of free enterprise, democracy NGF chair lauds

Emmanuel Addeh in Abuja

President Bola Tinubu, Kwara State Governor AbdulRahman AbdulRasaq,

THISDAY's bold reportage of issues Governors highlight news medium’s resilience, despite all odds and his Enugu State counterpart, Dr. Peter Mbah, were among a coterie of prominent Nigerians who congratulated THISDAY newspapers

yesterday, as the paper marked its 30th anniversary. Equally on the long list of personalities who characterised

the newspaper in superlative terms were Ogun State Governor, Dapo Abiodun; Delta State Governor, Sheriff Oborevwori; Governor of Bayelsa

www.thisdaylive.com

THISDAY, easily one of the country's most robust and influential

State, Douye Diri; former Edo State Governor, Godwin Obaseki; as well as ex-Governor of Lagos State, Mr Akinwunmi Ambode. Continued on page 12

NLC Rejects 50 Percent Hike

At WEF in Davos, Shettima, Global Leaders Target $29trn African Economy

Deji Elumoye in Abuja

Vice President Kashim Shettima yesterday joined other world leaders to push for the full implementation of the African Continental Free Trade Area (AfCFTA) with a target to boost Africa's economy to $29 trillion by 2050. He reiterated Nigeria's readiness to spearhead the AfCFTA and take advantage of the market potential of the sector for digital transformation and economic integration of the African continent.

This was as the President of the World Economic Forum (WEF), Børge Brende, pointed out the transformative potential of the AfCFTA, projecting that its full implementation could boost Africa's economy to $29 trillion by 2050. Shettima and the global leaders declared their nations' positions at a forum of Friends of AfCFTA on the sidelines of the ongoing 2025 annual meeting of the World Economic Forum

Continued on page 12

ANOTHER GLO FESTIVAL OF JOY PRADO WINNER...

L-R: Corps Marshall and Chief Executive of FRSC, Shehu Mohammed; Globacom’s National Retail Chief, David Maji; Chairman of the Senate Committee on Youth Development, Senator Yemi Adaramodu; Toyota Prado winner, Sarah Ilya Madu, receiving the vehicle keys of her prize in the ongoing Glo Festival of Joy Promo from Senator Simon Lalong of Plateau South Senatorial District, and Globacom’s Head of Division, North West, Mr. Kazeem Kaka, at the prize presentation event held by Globacom in Abuja ... yesterday

Onyebuchi Ezigbo, James Emejo in Abuja, Emma Okonji and Agnes Ekebuike in Lagos

BPP 2025 BUDGET DEFENCE...

L-R: Deputy Chairman, House Committee on Public Procurement, Senator Sani Ibrahim Tanko; Director General Bureau of Public Procurement(BPP), Dr. Adebowale Adedokun; and Chairman, House Committee on Public Procurement, Idem Unyime, during the BPP 2025 budget defence in Abuja… recently

Oando Expands Upstream Footprint in Africa, Wins Bid for Angola Oil Block

Emmanuel Addeh in Abuja

Oando Plc, one of Africa’s leading indigenous energy solutions, yesterday announced that it had successfully completed and won the bid for the operatorship of oil block KON 13 in Angola.

The company which recently acquired Eni of Italy's oil assets in Nigeria, disclosed that the award of the oil block located in Angola's onshore Kwanza Basin followed a competitive bidding process by the country's oil and gas sector regulator.

In a statement made available to THISDAY, Oando disclosed that the asset in which it owns 45 per cent participating interest, has an estimated prospective resources of 770 to 1,100 million barrels of oil.

Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER).

“Oando Plc (the company), Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a competitive bidding process organised by the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG).

“Block KON 13 is strategically located in the prolific Kwanza Onshore Basin which represents significant

exploration potential in both pre-salt and post-salt plays, with estimated prospective resources of 770 to 1,100 million barrels of oil.

“The block has two exploration wells previously drilled to a target depth of 3,000m, with oil and gas observed across various depths. With a 45 per cent participating interest, OER will lead the development of the block as operator, alongside Effimax (30 per cent) and Sonangol (15 per cent) as co-venturers,” it stated.

Commenting on the award, Group Chief Executive, Oando Plc, Wale Tinubu, expressed confidence in the capacity of the company, in collaboration with its co-venturers, to unlock the full potential of the asset for the country and indeed Africa.

"I am thrilled by our successful bid and award of Block KON 13 in Angola. This development underscores Oando’s relentless commitment to expanding our footprint across Africa and contributing to the continent’s energy sufficiency goals.

“I am confident in our ability to leverage our expertise to develop and maximise the value of this asset. We look forward to collaborating with our co-venturers and other key stakeholders to harness this opportunity and unlock its full potential for Angola and Africa as a whole,” Tinubu added.

This milestone, the company said, marks its strategic entry into the Angolan oil and gas market and represents a significant step in its long-term vision to grow its upstream operations across Africa.

According to Oando Plc, it also solidifies the company’s position as a prominent player in the continent’s energy landscape, evolving from a local indigenous operator to a regional powerhouse. Following the company’s recent successful acquisition of NAOC Ltd

in Nigeria, the addition of Block KON 13, the energy firm stressed, further bolsters the company’s upstream portfolio and reflects its commitment to driving regional growth and energy security.

OER is a wholly owned upstream subsidiary of Oando, holding interests

in 14 oil and gas assets encompassing exploration, development, and production activities, both onshore and offshore in Nigeria and São Tomé and Príncipe.

The company maintains an extensive asset portfolio comprising over 22,447 square km of acreage, a

capacity to handle 483,000 barrels of oil per day (bopd), and a gas handling capacity of 3,663 million standard cubic feet per day (mmscf/d). It also has a 3.5 million barrels of terminal capacity, a pipeline network spanning over 1,255 km, 14 flow stations, and a 1GW power plant.

Technical Audit on Ajaokuta Steel Commences February, Says Minister

National Assembly queries ministry over N2bn project

Sunday Aborisade in Abuja

The Minister of Steel Development, Mr. Shuaibu Abubakar Audu, yesterday assured the nation that the technical audit on the Ajaokuta Steel Company Limited will start in February.

The technical audit would pave the way for the for the rehabilitation, completion and operation of the steel plant and the National Iron Ore Mining Company (NIOMCO) in Kogi State, Nigeria.

The Minister gave the assurance when he appeared before the National Assembly Joint Committee on Steel Development to defend his ministry’s 2024 budget expenditure and the 2025 Appropriation.

The federal government in September last year, signed a Memorandum

of Understanding (MoU) with the original builders of the Ajaokuta Steel Plant, Messrs, Tyazhpromexport (TPE) and members of their consortium Messrs Novostal M and Proforce Manufacturing Limited, to carry out the technical audit.

This was just as the joint panel queried the Ministry over the sum of N2 billion allegedly meant for a boot camp to train youths in metal works but captured differently in the 2024 budget.

A member of the joint panel, who is the senator representing the Kogi Central Senatorial District, where the steel project is situated, Natasha Akpoti-Uduaghan, asked the Minister to give a definite date for the commencement of the technical audit.

Akpoti-Uduaghan said, “Hon

Food Security: FG Plans Release of Additional Agro-inputs, Implements to Farmers

Says stores to be emptied nationwide

The federal government yesterday said it will intensify the distribution of agricultural inputs and implements to all farmers within the next couple of months.

The Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr. Marcus Ogunbiyi, also said the exercise codenamed, "Operation Empty the Store," would further enhance the capacity of farmers to boost food production across the country.

Ogunbiyi spoke at the opening of a one-day workshop with the theme, "Building Strong Partner-

ship with the Media for Food Security," organised for agriculture correspondents in Abuja.

He said, "It may interest you that the ministry will soon be distributing agricultural inputs and implements to all stakeholders, and arrangements are on and within the next couple of months, this will be done.

"And of course, immediately I resumed duties, I made a pronouncement that we will be embarking on operation Empty the Store.

"It means that all the equipment and inputs that we have in the store are not meant for the stores, they are meant for the farms.

"And therefore, we will embark on emptying all our stores nationwide such that equipment and inputs will be useful to our farmers."

The permanent secretary noted that the planned distribution was part the ministry’s robust and impressive programmes designed to make agriculture the mainstay of the Nigerian economy, thereby improving the living standard of Nigerians.

However, he said the workshop represented a critical step towards fostering a deeper understanding of the ministry's activities, programmes and projects among agriculture

correspondents for proper reportage.

Ogunbiyi, further stated that the ministry recognises the importance of effective communication, collaboration, and knowledge sharing in achieving its lofty objectives.

The workshop provided an update on the ministry's activities, programmes and projects as well as addressed recent developments in the sector.

He said, "It is essential for us to let Nigerians and indeed the world know the efforts being made to achieve food and nutrition sufficiency thereby, stem hunger, starvation and malnutrition in our country.

Minister Can I ask a question, please? When was the MOU entered into? Which month? Can you tell us the month that the MOU on Ajaokuta was entered? “

The Minister responded by telling the panel that the document was signed in September last year.

Akpoti-Uduaghan then wondered why the Ministry hasn't done anything four months after the MOU was signed.

She said, “We are now approaching the end of January. When will the technical audit start? When will it start? Because to me, I believe we should tackle that project wholesomely. Yeah. We need to start with a technical audit so that the buildup of repairs will commence immediately.

“Can you tell us when we would expect the Russians with their partners to commence the technical audit because time is going.”

In his response, the Minister said, “I had a conversation with the Permanent Secretary this morning Wednesday) on the commencement date.”

He then directed the Permanent Secretary, Dr. Chris Osa-Isokpunwu to address the panel on the commencement of the technical audit.

Osa-Isokpunwu said, “Immediately after the signing of the MoU, the Ministry commenced the procurement process for the technical and financial audit.

“Advertisements were made, time was given. The stage we are now is in preparation to present it to the Federal Executive Council (FEC) for approval.

“Once that presentation is made and the FEC approves that project, then the technical audit will start.”

Not satisfied with the Permanent Secretary’s submission, AkpotiUduaghan interjected and demanded a definite date of commencement.

She said, “The FEC meets every

week. Are you guaranteeing Nigerians that at the next FEC, the technical audit proposal will be approved?”

The Permanent Secretary replied, “What I would say at this point is that as soon as we get the ‘no objection’ to proceed to the FEC by the Bureau of Public Procurement, we will take the memo to the FEC.

“That will be based on the availability of a slot for the presentation of memos at FEC. I do not run the Secretariat of FEC.

“However, once the Bureau of Public Procurement issues us the certificate of no objection, within 48 hours after, the Minister will transmit the memo to the Secretariat of FEC.”

Akpoti-Uduaghan asked him when the BPP would send the ‘no objection’ to the Ministry and the Permanent Secretary said only the Director General of the BPE, Ayodeji Ariyo Gbeleyi, could answer the question. Still not satisfied with the answer to her question, Akpoti-Uduaghan said, “How long have you been expecting ‘no objection’ from BPP?”

“I need to know the timeline. How long has it been? Did you just submit the proposal last week? Or last month? Or two months ago? We need to know. Maybe it's BPP we are going to hold responsible for delay of process.”

Osa-Isokpunwu said, “I'm not familiar with the processes of the Bureau of Public Procurement. We submitted our request for ‘no objection’ about two months ago. So Chairman, I don't know if I can help you.”

The submission of the Permanent Secretary infuriated members of the joint committee and they accused him of being lackadaisical with his approach to the whole issue. The Minister quickly came to the rescue of the Permanent Secretary by accepting that the Ministry had been too slow on the matter.

James Emejo in Abuja

Open any of our Savings Accounts today to qualify

Open any Fidelity Savings Accounts, or fund your existing account with at least N5k. Then sign up to any of our Debit Cards, Online Mobile App, or USSD to qualify.

The more you save and transact, the higher your chances of winning.

Promo is open to new and existing customers; and runs till August 20, 2025.

Terms and conditions apply.

CANADA'S DEPUTY HIGH COMMISSIONER VISITS SANWO-OLU...

R-L: Governor of Lagos State, Mr. Babajide Sanwo-Olu; Deputy High Commissioner of Canada to Nigeria, Mr Carlos Rojas-Arbulu; Trade Commissioners, Canada,

Temitayo Dada during a courtesy visit by the Canadian envoy at the Lagos House, Marina, ... yesterday

Wike: Tinubu Has Allocated N300bn for Development of FCT Satellite Towns

Olawale Ajimotokan in Abuja Minister of the Federal Capital Territory (FCT), Nyesom Wike, yesterday disclosed that President Bola Tinubu has allocated no less than N300 billion for the development of satellite towns across the six Area Councils this year.

He made this statement during the inauguration of the 9 km Paikon-Kore-Ibwa Road in

the Gwagwalada Area Council. Wike emphasised the necessity of public awareness regarding the investment, as there was the belief that the administration was solely focused on the development of the city center, neglecting the satellite towns.

He said the information was crucial to demonstrate the President's commitment to the growth of these areas.

The minister noted that the

construction of the Paikon-KoreIbwa road cost N8.5 billion, and over N50 billion had been invested in various projects within the Gwagwalada Area.

He stated: "In just one year since the President took office in May 2023, this investment reflects his dedication to the Gwagwalada Area Council. The N8.5 billion allocated for this road is a testament to that commitment."

Wike further noted that N22 billion had been earmarked for the Aguma Palace Road, set to be inaugurated in May this year. He also revealed the completion and ongoing renovation of five secondary schools in Gwagwalada, including the School for the Gifted and Government Secondary School Gwagwalada, with a total investment of N16.5 billion.

He concluded by stating

Wilben Trade Files $68 Milion Lawsuit against Ecobank Executives Over Alleged Defamation, Coercion in UAE Court

Ecobank sources: Wade and Wilben Trade are facing prosecution in Nigeria for Letter of Credit fraud totalling $42.5 million

Wale Igbintade

Wilben Trade Limited, a global merchant trading company has filed a $68 million legal claim against Ecobank Transnational Incorporated’s (ETI) executives, including the CEO, Jeremy Awori; ETI Specialised Resolutions Company (ETISRC), Ecobank Nigeria (ENG), and Oladele Alabi, Managing Director of ETISRC.

The case, which was heard on January 20, 2025, at the Remote Litigation Chamber in the UAE, accused the defendants of defamation, abusive legal actions, and coercion.

Represented by Lateef Omoyemi Akangbe SAN of Sofunde Osakwe Ogundipe & Belgore Legal Practitioners, Wilben Trade alleged that Ecobank executives attempted to force the company and its CEO, Marcus Wade, into making unwarranted payments to ENG and ETISRC following a financial loss in 2015.

The dispute dates back to 2015 when Ecobank Nigeria incurred losses of over $42 million from two transactions with Agrico Agbe Limited and Little Rose Trading LLC. Wilben Trade’s sole role was as an intermediary to discount a Letter of Credit at Ecobank's request, with no further involvement in the transactions.

Despite this, ETISRC, focused its claims on Wilben Trade, which the legal counsel described as "an extortion attempt."

In 2022, ETISRC escalated the matter by alleging that Wilben Trade fraudulently received $42.5

million from Ecobank Nigeria and engaged in conspiracy and fraudulent conversion.

Wilben Trade denied the allegations, asserting they were fabricated by Alabi as part of a strategy to manipulate public institutions in Nigeria.

Akangbe, emphasised that Wilben Trade was committed to defending its reputation and seeking justice for the harm caused by these claims, noting that in addition to Nigerian legal

action, international steps are being taken to address Ecobank's alleged abusive tactics.

Despite attempts to resolve the matter through dialogue, Wilben Trade claimed that Ecobank had refused to engage meaningfully.

Sources within Ecobank, on the other hand, dismissed the lawsuit as a tactic by Marcus Wade and Wilben Trade to avoid criminal liability for fraud.

The sources alleged that Wade and Wilben Trade are facing

prosecution in Nigeria for Letter of Credit fraud totalling $42.5 million.

"A warrant for Wade's arrest has been issued, and Interpol was reportedly involved in facilitating his repatriation to Nigeria for trial.

Ecobank asserted that the UAE lawsuit was an attempt to obstruct the ongoing legal proceedings."

Ecobank sources further clarified that its parent company, ETI was not involved in the litigation and categorically denied all allegations of extortion.

Malnutrition: FG Bemoans 32% Deaths in Children Under Five

The federal government has decried the 32 percent rise in the rate of malnutrition in children under five across the country. This was as it further disclosed that child labour remains rampant, with millions of children engaged in hazardous work across various sectors, thereby depriving them of a safe and secure childhood.

Minister of Women Affairs, Imaan Sulaiman- Ibrahim, who stated this in United Kingdom at the launch of the community children’s fund event with the theme, “Advancing Africa’s Agenda for Children 2040: Protecting Street[1]Connected Children in West Africa", said

the statistics were not too different in other African countries, and highlighted the urgent need for comprehensive intervention towards the protection Nigeria’s children.

The minister stated that this neglect was compounded by the erosion of family cohesion, economic pressures, forced migration, and cultural shifts that have strained familial bonds that once provided safety nets for children.

She said the launch of the fund provides a platform to address not only the vulnerabilities faced by children across Africa but also the immense potential they hold.

"Malnutrition is a major concern, contributing to 32 percent of deaths among children

under five.

"They are exposed to hazardous living conditions and child labour in rural farms or urban marketplaces, and they continue to bear the brunt of societal inequities.

"These children are robbed of their childhoods, often forced to navigate a world that treats them as invisible, with their rights and potential left unrealised."

She added that it was enshrined in Africa’s agenda for children in the year 2040, that all must commit and reignite the determination to build a future where every African child thrives and collectively declare that neglect, abuse, and systemic failures have no place in our societies.

that the total investment by the President in Gwagwalada alone exceeds N50 billion, not including the costs associated with the construction of new police divisions aimed at enhancing security in the area.

"The President came on board in May 2023, just within one year, this is just for Gwagwalada Area Council alone. This road, Mr. President committed N8.5 billion to construct this road.

"So, when you ask, what has Mr. President done? Put it on record now, if you have your biro, write it down. See what he has done for the people of Gwagwalada area council.

In Aguma Palace Road, Mr. President has committed N22 billion, and that road will be commissioned in May this year.

"As I speak to you, we have completed and we are still renovating, five secondary schools in Gwagwalada: The School for The Gifted, Government Secondary School Gwagwalada, GSS Abagada (not sure about

name) and GSS Tungan Maje, GSS Giri. The total value for these is N16.5 billion.

"Now, if you calculate this total amount, I have not added the total police divisions that we are building in Gwagwalada to enhance the security of this area.

"Now, if you add the total value of what Mr. President has committed to Gwagwalada alone, you are talking about over N50 billion for one area council. Now, if you add the six area councils, just take this as the base because this is the least of all the area councils. So, you will see that in a year, Mr. President has committed to the development of satellite towns, not less than N300 billion," Wike said.

He said the huge spending on projects in the satellite town underscored the President's belief that governance is not only to sit in office and dish out orders to the people, but to discuss with the people and ask what are their problems.

Portugal Set to Import More Nigerian, US LNG to End Russian Supply

Portugal plans to increase purchases of Liquefied Natural Gas (LNG) from Nigeria and the United States as it aims to end already dwindling supplies from Russia, the country's Environment Minister Maria da Graca Carvalho said yesterday.

Portugal imported 49,141 gigawatt-hours (GWh) of natural gas in 2024, of which around 96 per cent was LNG, data from electricity and gas grids operator, REN showed.

Nigeria accounted for 51 per cent of those LNG deliveries, about 40 per cent came from the United States and around 4.4 per cent came from Russia, a Reuters report said.

In 2021, Russia accounted for 15 per cent of Portugal's LNG supply. Following Russia's invasion of Ukraine in February 2022, the European Union (EU) has implemented targeted sanctions on Russian oil and gas imported through pipelines, but has not prevented the import of LNG

transported by ship into Europe.

"Portugal is now practically independent of Russian gas ... but we want to reduce this figure further by importing more gas from Nigeria and the United States," Graca Carvalho told a panel at the World Economic Forum (WEF) in Davos, according to economic website ECO.

US President Donald Trump has threatened the European Union with tariffs if countries do not increase their purchases of US energy. ECO reported the minister urged greater cooperation within the 27-nation European Union to ensure energy independence and security, saying Iberia was still an "energy island" as it had "been difficult to build interconnections with France".

At the start of the war between Russia and Ukraine, many delegations from the European Union visited Nigeria to explore the possibility of the country ramping up production and raising gas exports to the continent.

Mr Dindembolo Zaya Kuyena and Ms

Kuni Tyessi in Abuja

Emmanuel Addeh in Abuja

KEYAMO DEFENDS AVIATION MINISTRY BUDGET...

L-R: Nigerian Safety Investigation Bureau (NSIB), Capt. Alex Badeh; Permanent Secretary, Ministry of Aviation, Dr. Ibrahim Kana; and Minister of Aviation, Festus Keyamo (SAN), when they appeared before a joint Committee of Senate and the House for the defence of their Appropriation Bill, held in Abuja…yesterday

Abuja Airport: Keyamo Queries

N532bn Variation For 2nd Runway

Demands fresh bidding

Sunday Aborisade in Abuja

The Minister of Aviation and Aero Space Development, Festus Keyamo, SAN, said yesterday that his Ministry has rejected outrageous contract variation of N532 billion from the N90bn awarded to the contractor who is handling the 2nd runway of the Nnamdi Azikiwe, International Airport Abuja.

Keyamo stated this during the budget defence session with the National Assembly joint Committee on Aviation.

He said the contract has been revoked for fresh bidding by interested contractors.

He said: "After N3.4billion post contract consultancy fee paid to contractor handling the project in May 2023, N90bn was later paid in the same year for the whole contract out of which N30bn was released.

"The contractor after receiving the N30bn and joined the federal capital territory administration to compensate some settlers on the affected land, left the site.

"All efforts made thereafter to get the contractor back to site proved abortive on the grounds of unacceptable contract variation being demanded.

"The contractor in question is demanding for contract variation of N532billion from the original sum of N90bn the contract was awarded for

"To us in the Ministry, the said variation is nothing but fraud leaving us with no option than to cancel the contract and call for fresh bids."

Members of the committee also asked the minister why the N36bn owed workers of the defunct Nigeria Airways, was not reflected in the ministry's 2025 budget for required payment.

The minister in his response said payment for the N36bn has been shifted to the Ministry of Finance since the money is not meant for capital project

He said: "The affected pensioners would soon get their dues from the Ministry of Finance and not from the Ministry of Aviation and Aerospace Development.

“I met with leaders of the joint unions on this in November last year and they agreed to arrangement put on ground.”

He however disagreed with suggestion made by some members of the committee that establishment of Aerospace University across the six geo-political zones should be discontinued since there is one in Zaira Kaduna State already.

He said the Nigeria College of Aviation Technology (NCAT) was established in 1964, so also was the Nigeria Law School established in Lagos.

"While the Nigeria Law School has been decentralized, the Aviation College in Zaria has not been properly

followed suit, which the Aerospace Universities are aimed at.”

He thereafter presented the 2025 budgetary proposal of the ministry to the committee which according to him, is N71.13billion, out of which

N69.2billion is earmarked for capital projects, N1.147billion for personnel cost and N745.7million for overhead.

However, the joint committee through its Chairman, Senator Abdulfatai Buhari (APC Oyo North),

told the minister that approval would be given the budgetary proposal after submission of full details on state of 124 projects being executed by the Ministry. "Historical background and current

status of all the ongoing projects being executed by the ministry are needed as requested for, by this committee, latest by next week, for approval of the presented Budget proposals,” he said.

Segun James

The Renewed Hope Initiative (RHI), a non-governmental organisation initiated by the First Lady, Senator Oluremi Tinubu, continues to present essential food items to vulnerable groups across the nation.

Senator Tinubu stated this in Benin, the Edo State capital, during the distribution of essential food items to vulnerable groups under the Food Outreach Programs of the Renewed Hope Initiative, RHI under its Social Investment Scope.

Senator Tinubu said government will continue to pursue policies and programs aimed at making life better for Nigerians.

Represented by the Wife of the Vice President and National Vice Chairman of the RHI, Hajia Nana Shettima, the First Lady pointed out that the food supplies were

made possible by an anonymous public-spirited company and also the Abdul Samad Rabiu Africa Initiative (ASR Africa) who are committed to supplying food items on a monthly basis to RHI for onward distribution to Nigerians.

Her words: “I am pleased to share with you all that since inception in 2023, the Renewed Hope Initiative has made significant progress in our efforts to support our people, particularly women and youth, towards building a better life for their families.

“I want to assure you that there will be more activities this year under the five scopes of the RHI, that covers Agriculture, Education, Economic Empowerment, Health, and Social Investment.

“These programs aim to further compliment the Renewed Hope Agenda of the administration of His

Excellency, President Bola Ahmed Tinubu, GCFR”.

The First Lady through her representative appealed to beneficiaries not to sell the food items, as they are intended to support their families.

In his remarks, Governor of Edo State, Senator Monday Okpebholo, expressed gratitude to the First Lady for her relentless efforts geared towards supporting vulnerable groups.

He acknowledged the role RHI is playing in meeting the needs of the citizens, pledging his government's support to the administration of President Bola Ahmed Tinubu and also the RHI, an Initiative of First Lady Oluremi Tinubu.

The Edo State RHI Coordinator, Mrs. Edesili Anani also assured that the food items will be distributed to the targeted beneficiaries in the state.

The Food Outreach Program of the Renewed Hope Initiative, RHI under its Social Investment Scope was launched on the 8th of March 2024 in Abuja the Federal Capital Territory with the aim of providing essential food commodities to vulnerable groups and people with disabilities.

It would be recalled that in December, Elderly Citizens in Edo State also benefited from the RHI Elderly Citizens Support Program of the RHI where 250 elderly got two hundred and fifty naira (N250,000.00) each, various food items, in addition to free health checks.

The train of the Food Outreach Scheme of the RHI is expected to be in Kwara State next, followed by Kogi and Abia States for similar distribution.

As part of its commitment to global and national sustainability standards aimed at enhancing its role in responsible banking and sustainable finance, Unity Bank Plc has successfully completed a transformative project to strengthen its Environmental, Social, and Governance (ESG) and sustainability framework in partnership with AquaEarth Consulting.

The collaborative project focused on a comprehensive review and enhancement of Unity Bank's ESG practices, resulting in the development of robust policies, frameworks, and a forward-looking sustainability strategy.

AquaEarth Consulting, a

renowned sustainability advisory firm, provided strategic leadership, leveraging its expertise to design bespoke solutions tailored to the bank’s unique needs.

According to a statement, the partnership began with an in-depth analysis of Unity Bank's existing ESG framework, identifying key areas for improvement. From this foundation, a suite of actionable policies was developed to address critical environmental, social, and governance considerations. This effort reflects the Bank’s commitment to driving meaningful impact and positioning itself as a leader in sustainable finance.

Recognising the importance

of staff engagement, Unity Bank organised extensive training sessions for employees at all levels. These programmes equipped staff with the knowledge and tools to seamlessly integrate ESG principles into their daily operations. “This comprehensive approach aimed to promote a culture of sustainability across the organisation and strengthen its alignment with global best practices.

“A key outcome of the collaboration was the creation of a detailed sustainability strategy, which outlines Unity Bank’s long-term goals. This roadmap features actionable steps, measurable targets, and key performance indicators (KPIs) that will guide the Bank’s efforts to

deliver value to stakeholders while contributing to Nigeria’s economic and environmental development,” the statement added.

Commenting on the initiative, CEO of Unity Bank Plc, Mrs. Tomi Somefun said: “This milestone is a testament to Unity Bank’s unwavering commitment to responsible banking and sustainability. Our collaboration with AquaEarth Consulting has positioned us to not only meet the growing demand for ESG-aligned practices but also play a leading role in advancing Nigeria’s sustainability agenda. We are proud to take this significant step towards building a greener and more inclusive future.”

Michael Olugbode in Abuja

Nigerian government has commiserated with the government and people of Türkiye over the fire incident at the Grand Kartal Hotel in the Kartalkaya Ski Resort that resulted in the death of 66 persons with over 50 others. The condolence message was contained in a statement signed by the acting spokesperson of the federal ministry of foreign affairs, Kimiebi Ebienfa.

The statement read: “The Federal Republic of Nigeria wishes to express deep condolence to the Government

and People of the Republic of Turkiye over the unfortunate fire incident at the Grand Kartal Hotel in the Kartalkaya Ski Resort.

“The fire, which claimed the lives of 66 persons and injured over 50 others in Bolu Province in Northwestern Turkiye, was reported to have started in the early hours of Tuesday 21st January 2025.

“The Federal Government of Nigeria sympathizes with the Government of the Republic of Turkiye and the families of the victims of the fire incident, and also wishes a speedy recovery of the injured.”

PHOTO: JULIUS ATOI.

CBN Unveils Nigerian FX Code to Guide Market Participants, Curb Distortions, Others

ames Emejo in Abuja

The Central Bank of Nigeria (CBN) has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote ethical conduct of Authorised Dealers in the Nigerian FX market.

In a notice posted on its website yesterday, the apex bank further announced that the code would be formally launch on January 28, 2025, in Abuja.

In October 2024, the central bank announced the introduction of the

Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM).

The new system was to be implemented not later than December 01, 2024, and preceded by a two-week test run in November.

The system seeks to enhance governance, and transparency and facilitate a market-driven exchange rate that will be accessible to the public.

The CBN further explained that the platform would further

reduce speculative activities, eliminate market distortions and give the CBN improved oversight capabilities to effectively regulate the market.

The bank noted that authorised dealers would subsequently conduct all FX transactions in the interbank FX market on the EFEMS approved by the apex bank where transactions will be reflected immediately.

Authorised dealers were, therefore, required to comply with extant guidelines and regulations governing the FX market and

ensure that all necessary documentation, training, and systems integrations were concluded ahead of the go-live date.

The central bank added that it would publish real-time prices and buy/sell orders data from the system, and in collaboration with the Financial Markets Dealers Association (FMDA), publish the rules for the EFEMS.

The Nigerian FX Code and revised Market Operating Guidelines for the Nigeria Foreign Exchange Market will also provide guidance to market participants.

NLC REJECTS 50 PERCENT HIKE IN TELECOMS TARIFF APPROVED BY NCC demonstrable and tangible service enhancements for consumers."

However, the tariff hike approval has continued to spark widespread debate among industry stakeholders and consumers.

In a statement signed by NLC President, Joe Ajaero, the Labour movement urged the federal government, the NCC and the National Assembly to stop the implementation of what it described, "as ill-advised" hike to allow a reasonable conversation around it.

"NLC expresses its unequivocal condemnation of the federal government's recent approval, through the NCC of a 50 percent increase in telecommunication tariffs.

"This decision, coming at a time

TINUBU,

newspapers, was founded 30 years ago, and had since then remained Nigeria's go-to news medium, especially among the political, business and diplomatic elite, for authoritative and accurate news reports.

In his message signed by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu lauded THISDAY’s commitment to the ideals of free enterprise, democracy, and innovative use of technology, and for nurturing many notable names in the media industry.

The president said the accolades received by THISDAY from home and abroad were a testament to the ground-breaking impact the newspaper had made on the local and global scenes.

The statement said, “President Bola Tinubu congratulates THISDAY Newspapers Limited, its management and staff, on the 30th anniversary of the publication. Founded on January 22, 1995, by Prince Nduka Obaigbena, the media organisation has earned a reputation as a newspaper of record in Nigeria, delivering in-depth coverage of national and global events.

“The president commends the newspaper for its commitment to the ideals of free enterprise, democracy, and innovative use of technology and for nurturing many notable names in the media industry.

“President Tinubu states that the numerous awards the publication, its editors, and writers have received over the years are an eloquent testament to the newspaper's creativity.

“President Tinubu wishes THISDAY Newspapers continued progress in the years to come.”

Abdulrazaq, who is also Chairman of Nigeria Governors’ Forum (NGF), in his remarks, heartily congratulated THISDAY on its 30th anniversary today.

Abdulrazaq commended the paper for what he described as its impressive showing in the media space, especially its bold reporting of political, economic, and social issues, among others.

The governor stated, in a congratulatory message signed by his Chief Press Secretary, Rafiu Ajakaye, “For its unique style and the huge success that THISDAY has become, I salute the leadership, industry, creativity, and the can-do spirit of the publisher, Mr. Nduka Obaigbena, the board of editors, and a long list of its hard-working journalists and other workers.”

He urged the newspaper to keep the flag flying as an indisputable industry leader in the media in Nigeria and Africa.

“I wish the THISDAY Newspapers

when Nigerian workers and the masses are grappling with unprecedented economic hardship, is a clear assault on their welfare and an abandonment of the people to corporate fat cats.

"The NLC calls on all Nigerian workers and masses to reject this unjustifiable tariff hike. We urge citizens to prepare for collective action, including the possibility of a nationwide boycott of telecommunication services, to compel the reversal of this punitive increase," it stated.

The NLC noted that telecommunication services are essential for daily communication, work, and access to information, adding that average Nigerian workers already

spends approximately 10 percent of their wages on telecom charges.

"For a worker earning the current minimum wage of N70,000, this means an increase from N7,000 to a staggering N10,500 per month or 15 percent of his salary—a cost that is unsustainable.

“This hike exemplifies the government’s apparent ease in prioritising corporate profits over citizens' welfare. It is shocking that the government approved this 50 percent tariff increase for telecom companies within a month, yet took nearly a year to approve the recent minimum wage for workers, despite the rising cost of living and inflation eroding purchasing power," it added.

The NLC accused the federal

government of deliberately aligning with the interests of wealthy corporations than with the needs of the workers and citizens it is meant to serve.

It stated that it would remain resolute in defending the interests of Nigerian workers and the masses, adding that it will not allow the people to bear the brunt of policies that further entrench poverty and inequality.

Meanwhile, the FCCPC yesterday said it was crucial that the approved 50 per cent adjustment in telecommunications tariffs "directly translate into demonstrable and tangible service enhancements for consumers."

The commission though acknowledged the economic pressures faced

ABIODUN, OBOREVWORI, DIRI, OBASEKI, AMBODE HAIL THISDAY ON 30TH ANNIVERSARY

many centuries of success and patriotic contributions to our democracy and national development,” he added.

Mbah praised THISDAY for its enormous contributions to national development and the struggle for the return of democracy, in a statement issued by his media aide, Uche Anichukwu.

Mbah said, "I join the rest of the country and, indeed, the world in congratulating you on your 30th anniversary, a great milestone by every measure. In the last 30 years, you have consistently and progressively redefined and elevated journalism, showcasing a high sense of professionalism and clothing Nigerian journalism in flamboyant ambiance and international reach and reverence.

“I salute your resilience, pan Nigerian disposition, contributions to national development, and to the restoration and sustenance of democracy in Nigeria."

The governor urged the management and staff of THISDAY to "continue to aim for the skies, as it is still morning on creation day for Nigeria's newspaper of record".

In a statement he personally signed, Abiodun described the anniversary as a milestone for a phenomenal news engine and driver of positive national conversations.

He said THISDAY was a city of excellence set on the Nigerian media hill, which cannot be hidden.

According to him, “Excellence has no other name; it attracts by the sheer resonance of its beauty.”

The Ogun State governor added, “There was a vacuum when THISDAY entered into the media space, and it has filled that vacuum most admirably. It has distinguished itself in the area of business, politics and news reporting and it isn’t by sheer accident that it is one of the most sought for newspapers in Nigeria, and will be in the years to come.

“From scratch, with a steely resolve to serve the people a daily diet of balanced reportage, the founder has built a newspaper of international repute, a must-read for every political and business stakeholder in Nigeria.”

Abiodun said, “THISDAY has been able to carve a niche for itself in the media industry; the point is not in dispute that it is a brand that is reckoned with locally and internationally. When others are falling, THISDAY is rising, simply because it is a brand that makes the day of Nigerians. THISDAY is beautiful: the page-planning, design and layout are uniquely reader-friendly, the contents simply superb.

“The government and people of Ogun State celebrate THISDAY

on this glorious day of 30 years of impactful, erudite journalism. Ruling the media space for three decades is no mean feat, but the real story is that the best is yet to come.”

In his congratulatory message, Oborevwori, in a statement by his Chief Press Secretary, Festus Ahon, said the newspaper had continued to greatly impact the media industry positively with its robust reportage.

He stated that the well-known publication, which debuted on the newsstands on January 22, 1995, had built a reputation in the newspaper world, winning Newspaper-ofthe-Year three times in a row and becoming the first in Nigeria to run full colour in 1997.

The governor stated, “On behalf of the government and people of Delta, I congratulate the publisher, Prince Nduka Ogbaigbena, management and staff of THISDAY Newspapers on the occasion of their 30th anniversary.

“As a government and citizens of Delta, your home state, we take great pride in THISDAY's remarkable achievements and its contributions to the journalistic profession as the society's watchdog.

“As we congratulate you on this milestone, here is wishing you greater success and accomplishments in the future.”

Diri said THISDAY had withstood the odds in the sector and in the country to remain relevant and had become a voice to reckon with in the media industry.

Delivering his message through his Chief Press Secretary, Mr. Daniel Alabrah, Diri praised THISDAY’s resilience as well as its creativity and style, which he said had made it an outstanding medium. He urged the media organisation to maintain its high standards in the years ahead.

Obaseki described the newspaper as a pacesetter in Nigeria's media industry, in a statement by his media adviser, Crusoe Osagie.

He stated, "I heartily felicitate THISDAY Newspaper for attaining an enviable 30 years of robust and accomplished journalism. THISDAY has always been a pacesetter in Nigeria’s media landscape, being the first to run an all-colour edition and the first to publish an opinion piece on the back page, among other ground-breaking innovations that cement its position as a publication of many firsts.

"The newspaper has consistently upheld the principles of truth, fairness, and accountability in its reportage, contributing significantly to the progress and development of our dear nation, Nigeria.”

The former governor added,

"I congratulate the Chairman and Publisher of THISDAY, Nduka Obaigbena, as well as the management, staff, and board of the newspaper for their commitment to innovative, excellent and impactful journalism over these past three decades, and extend my best wishes for even greater accomplishments in the years to come."

Ambode described the founder of THISDAY as an enigma, pointing out that against all odds, THISDAY has emerged even stronger.

He stated, “THISDAY’s publisher is an enigma. His friends and foes agree that he's been a very successful publisher. He's done very well for himself and also very well for journalism in Nigeria.

“With the combination of THISDAY and Arise Television, we cannot write about the issue of journalism in Nigeria without a mention of his name. I wish him well.”

Advertising Guru, Dr Biodun Shobanjo, recalled THISDAY's humble beginnings, stating that through dint of hard work, the newspaper has become one of Nigeria's most preferred.

Shobanjo said, “For those of us who were witnesses to the very beginnings – first with This Week, in a bungalow on Ogunlana Drive, Surulere, to THISDAY, it all looks like a dream that the mustard seed sown then has become such an iroko tree within three decades.

“This is evidence of the resilience and 'can do' spirit of the Nigerian at play. Please, accept my personal congratulations and that of Troyka Holdings.”

(WEF) in Davos, Switzerland.

The Vice President, while addressing the forum tagged, "Forum Friends of AfCFTA: Turning Digital Trade into a Catalyst for Growth in Africa," reaffirmed Nigeria’s commitment to AfCFTA as a vehicle for shared prosperity.

According to Shettima, Africa stands in a unique position to take advantage of global talent deficits, citing a Korn Ferry study that projects a global human talent shortage of more than 85 million people by 2030.

He said: "By 2050, Nigeria's population will surpass that of the United States, becoming the third most populous nation on earth at 440 million people". Citing Africa’s growing digital landscape, the Vice President said Nigeria's technological strength is propelling it into the knowledge age.

“Today, we have 220 million telecom

by telecom operators, including increasing operational costs, insisted unequivocally that "consumer interests remain paramount".

In a statement, FCCPC Director, Corporate Affairs, Ondaje Ijagwu, the consumer rights agency said, the NCC's approval of a 50 per cent adjustment, which was lower than the over 100 percent increase initially proposed by operators, demonstrated a thoughtful effort to balance industry sustainability with consumer protection.

Ijagwu said, "We are also pleased with the NCC’s directive to operators to ensure that, henceforth, tariffs are clear, straightforward, and free of hidden charges or complexities.

"Operators are now required to disclose all key details upfront, including the cost, validity period, and the specific inclusions of a plan.

"The FCCPC acknowledges the intense pressure faced by the NCC over the years to approve tariff increases due to the rising operational costs experienced by telecom operators, which became more pronounced in recent times."

The FCCPC also commended the NCC for adopting a deliberate and measured approach by rationalising the tariff adjustment and linking it to commensurate improvements in service quality while implementing measures to mitigate the impact on consumers.

Ijagwu said, "Consumers can also expect a mandatory disclosure table from their service providers, enabling them to make informed decisions without worrying about unexpected charges or surprises.

"Consumers have consistently expressed the desire for measurable improvements in the quality of service before any tariff increases are implemented.

"Issues such as network congestion, dropped calls, inconsistent internet speeds, unusual data depletion, and poor customer service have remained prevalent concerns.

"It is therefore, crucial that tariff adjustments directly translate into demonstrable and tangible service enhancements for consumers."

He noted that the Memorandum of Understanding (MoU) recently signed between the FCCPC and NCC highlighted a shared commitment to ensuring robust consumer protection, fair competition, and the eradication of exploitative practices in the telecommunications sector.

The agreement reinforces the

subscribers and 163 million internet users in Nigeria alone. This provides us with immense opportunities to empower our people. While our highest oil export earnings were $35 billion in 2011, India last year earned about $120 billion from outsourcing alone.

"The African Continental Free Trade Area is not only an economic arrangement but a bold statement of our shared destiny," Shettima stated, adding that while Africa may have missed the agricultural and industrial ages, it is positioned to thrive in the post-industrial knowledge age.

On his part, the WEF President, Brende, while welcoming the Vice President and other African leaders to the "Forum Friends of AfCFTA," said Africa's demographic advantage presents huge economic opportunities for the continent.

He noted that while most nations

principle that any regulatory or pricing adjustment must balance the sustainability of the industry with the interests of consumers.

The statement added, "It is nonnegotiable that telecom operators must prioritise visible and measurable improvements in network reliability, speed, accessibility, and customer service as part of any tariff adjustment.

"The rationale for the increase must be reflected in better services for consumers who rely on telecommunications for both personal and business purposes.

"Operators are expected to allocate increased revenues responsibly, with an emphasis on infrastructure development and service delivery improvements.

"Clear mechanisms must be established to monitor how these funds are utilised, ensuring that consumers directly benefit from the adjustments."

Among other things, it said, "Operators must also clearly communicate the rationale for the tariff adjustments to consumers. This includes ensuring that consumers are fully informed about the nature of the changes, their benefits, and how they align with efforts to improve service delivery and infrastructure.

"The MoU between the FCCPC and NCC provides a unified framework to oversee the implementation of this tariff adjustment in a manner that meets the needs of consumers.

"The partnership ensures that the increase does not become a justification for exploitative practices but rather an opportunity to foster fairness, transparency, and accountability in the telecommunications sector.

It added, "We are committed to closely monitoring the impact of these tariff adjustments to ensure compliance with established regulatory standards. Operators are reminded that the FCCPC is actively working with NCC to address concerns that may be raised by consumers during this transition period and beyond.

The commission encourages consumers to report any unfair practices or concerns through its official channels to ensure effective resolution.

"As Nigeria embraces rapid technological advancements and increasing reliance on digital connectivity, it is imperative that the benefits of a thriving telecommunications ecosystem extend to all stakeholders, particularly

Continued on page 37

face workforce challenges, Africa's young population positions it for unprecedented growth.

"If the Secretary General of the AfCFTA is given all the support he deserves; we can boost intra-African trade by a staggering 50 percent.

"As of today, $29 trillion represents one-third of the global GDP. Africa is such a growing continent, and one of its key promises is demography. The challenge now is creating new jobs for the youth population,” he stated. Others who spoke at the event included the Presidents of South Africa, Cyril Ramaphosa; Botswana, Duma Boko; DR Congo, Felix Tshisekedi; Somalia, Hassan Sheikh Mohamud; Prime Minister of Egypt, Mostafa Madbouly; Confederation of African Football President, Patrice Motsepe; Former British Prime Minister, Tony Blair; among numerous global CEOs.

ABDULRASAQ, MBAH,

PRESS RELEASE

FINANCIAL

REPORTING COUNCIL OF NIGERIA’S POSITION ON IAS 29FINANCIAL REPORTING IN HYPERINFLATIONARY ECONOMIES

The Financial Reporting Council of Nigeria (“FRC” or “the Council”) is a Federal Government regulatory agency established by the Financial Reporting Council of Nigeria Act 2011 (as amended) that is charged with, amongst other things, issuing and enforcing financial reporting (accounting, auditing, valuation, actuarial) and corporate governance standards and guidelines across the public and private sectors in Nigeria.

The FRC has extensively engaged various stakeholders such as the Professional Accounting Bodies in Nigeria, external auditors, government regulatory agencies, and significant public interest entities, where an objective evaluation of the five indicators of the economic environment of a country as stipulated in IAS 29: Financial Reporting in Hyperinflationary Economies were undertaken especially to determine the relevance and applicability of the standard in Nigeria in light of the inflationary trend in the country.

IAS 29 outlines the accounting requirements for entities in hyperinflationary economies. It does not specify when hyperinflation arises or is deemed to arise but rather outlines several indicators of hyperinflation that includes a preference for non-monetary assets, pricing in stable foreign currencies, credit sales adjusting for inflation, and a cumulative inflation rate approaching or exceeding 100% over a three (3) year period.

The FRC’s analysis of these indicators for Nigeria is as follows:

1. The general population prefers to keep its wealth in nonmonetary assets or in a relatively stable foreign currency. Amounts of local currency are immediately invested to maintain purchasing power:

Data shows that Nigerians continue to transact in local currency and invest in Naira-denominated assets, indicating confidence in the local currency.

There is no indication that the general population prefers to keep its wealth in non-monetary assets or in any other relatively stable foreign currency. Data from the Central Bank of Nigeria (CBN) and the financial statements of Nigerian financial institutions continue to show that investment in monetary assets such as treasury bills, mutual funds, fixed and current deposits and other short-term monetary assets have been increasing over the last 3 years. Data from the National Pension Commission shows that the Nigerian pension assets which are predominantly held in monetary assets have also continued to increase. The pension assets totaled N22.25 trillion as at November 2024 compared to N18.35 trillion as at December 2023. The currency in which most of these non-monetary assets is denominated is in the Naira. There is no rejection of the local currency as a medium of exchange in Nigeria as the Naira still serves as its base currency for

all transactions.

2. The general population regards monetary amounts not in terms of the local currency but in terms of relatively stable foreign currency. Prices may be quoted in that currency:

Monetary amounts in Nigeria are in Naira being the local currency. Salaries and wages for labour are paid in Naira. Goods and services are quoted in Naira as well. This is evident from a review of the major e-commerce platforms and shopping malls in Nigeria such as Jumia, Slot, Konga, Jiji etc. The prices of general goods and services are determined and charged in Naira. Monetary amounts are predominantly regarded in terms of the Nigerian Naira by the general population and not in terms of any other foreign currency suggesting that this indicator is not met.

3. Purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short:

There is no evidence that the price of credit transactions is adjusted for inflation as sales and purchases on credit do not take place at prices that compensate for the expected loss of purchasing power during the credit period.

Following from our review of the financial statements and other relevant documents of reporting entities in Nigeria, our understanding from business entities in Nigeria is that they offer credit terms to their customers based on the terms of the contract, the risk appetite of the business and the risk profile of the customer.

Based on our consultations, we know that expectations on inflation or speculations do not drive the pricing of goods and services. Since there is no publicly available data about details of contracts with customers from businesses in Nigeria, the evidence available to us at the micro level does not indicate that sales and purchases on credit take place at prices that are driven by inflation to compensate for the expected loss of purchasing power during the credit period.

4. Interest Rates, Wages, and Prices Linked to Price Index:

Historical data show that wages and prices are not consistently linked to a price index, and interest rates are adjusted primarily to control inflation.

In Nigeria, historical evidence shows that minimum wage when negotiated, remain fixed for average of 4 to 5 years and are not updated on annual basis. For example, in 2019, minimum wage increased from N18,000 to N30,000 after 8 years since the last

revision. The minimum wage remained N30,000 until July 2024 when it was increased to N70,000 after another 5 years.

On interest rates, the CBN has increased the monetary policy rate over time in a bid to curtail inflation. The interest rate in Nigeria is currently at 27.50% but prime lending rate is currently 18.39%.

On the prices of commodities, prices are determined based on the cost of inputs (raw materials and directs costs) and the margin charged by businesses to recover their operational costs. There is no evidence that suggests that other than the recovery of direct costs and operating margin, that businesses charge prices that are inflation-linked or linked to a price index. Based on these factors, this indicator does not support that Nigeria is a hyperinflation economy.

5. the cumulative inflation rate over three years is approaching, or exceeds,100%:

Nigeria’s three-year cumulative inflation rate according to data released by the Nigeria Bureau of Statistics (NBS) is 110.9% as of 31st December 2024. This exceeded the threshold specified in 1AS 29. Nigeria experienced a marginal decline in its monthon-month inflation rate in July 2024, dropping from 34.2% in June to 33.4% in July. However, the increase towards the end of 2024 was predictable and in line with previous patterns which is largely attributable to year-end festivities. Inflationary pressures in Nigeria are driven by a combination of global and domestic factors, such as the global inflationary crisis and the impact of domestic policy reforms.

The International Monetary Fund’s (IMF) report in October 2024 suggests that Nigeria’s inflation rate is expected to stabilize at 21% by the end of 2025. This projection indicates that Nigeria’s economy is on track to recover from the current inflationary pressures.

The Central Bank of Nigeria (CBN) has also implemented a series of monetary tightening measures aimed at controlling the money supply and curbing inflationary pressures. This is evident in the recent contraction in the growth rates of both the money supply (M2) and credit to the private sector.

6. Other Relevant Factors:

We have considered other relevant factors that have significant impact on the Nigerian economy. The structural reforms implemented by the present government have led to shortterm economic shocks and do not necessarily translate to hyperinflationary situation. These reforms including the floating of the naira and ending fuel subsidies led to month-on-month inflation.

Factors that are expected to contribute to a decline in inflation and a positive economic outlook in Nigeria, includes:

a) Operationalization of Dangote Refinery, Port Harcourt and Warri refineries: The emergence of Dangote Refinery and recommencement of operation of Port Harcourt and Warri Refineries will help reduce inflation in the following ways:

i Reduction in Fuel Import Cost: Local production of fuel will significantly reduce Nigeria’s dependence on imported refined petroleum products. Reduction of cost associated with fuel importation will reduce the local pump price which can contribute to reducing the prices of goods and services that are heavily dependent on fuel, thereby reducing inflationary pressures.

ii. Reduction in demand for Foreign Exchange: 40% of the country’s forex needs are channeled to the importation of fuel. By reducing the need for fuel import, it helps to conserve our foreign exchange reserves which in turn help to stabilize the Naira by reducing import-related inflation.

b) Increased crude oil production: Crude oil production: Nigeria’s crude oil production increased to 1.8million bpd which meets the nation’s OPEC allocation and significantly reduce the nation’s need for the importation of crude

c) Agricultural Initiatives: Food inflation contributes about 16.7% to the overall inflation. The government is promoting agricultural productivity through various programs aimed at boosting local food production. This includes providing support to farmers and improving agricultural infrastructure. Measures to boost agricultural productivity could help lower food prices, which are a significant component of the inflation basket.

d) Import Policies: To ease food inflation, the government has adjusted its food import policies, allowing for more imports to stabilize food prices. This is in addition to removing import duties on some food items.

e) Structural Reforms: While recent structural economic reforms implemented have led to short-term economic shocks, Nigeria cannot be deemed a hyperinflationary economy. These reforms, including floating the Naira and ending fuel subsidies, contributed to rising year-on-year inflation which reached 34.8% in December 2024. However, there are signs that these inflationary effects are beginning to stabilize. Forecasts suggest a gradual disinflationary trend in 2025, supported by moderating food price growth relative to other sectors, according to the Economic Intelligence Unit (EIU). The EIU projects an average inflation of 26.5% for 2025, with potential for further reduction due to the upcoming rebasing of GDP and CPI data by the National Bureau of Statistics (NBS) in January 2025.

e) Structural Reforms: While recent structural economic reforms implemented have led to short -term economic shocks, Nigeria cannot be deemed a hyperinflationary economy. These reforms, including floating the Naira and ending fuel subsidies, contributed to rising year -on-year inflation which reached 34.8% in December 2024. However, there are signs that these inflationary effects are beginning to stabilize. Forecasts suggest a gradual disinflationary trend in 2025, supported by moderating food price growth relative to other sectors, according to the Economic Intelligence Unit (EIU). The EIU projects an average inflation of 26.5% for 2025, with potential for further reduction due to the upcoming rebasing of GDP and CPI data by the National Bureau of Statistics (NBS) in January 2025.

1: SUMMARY OF THE INDICATORS AS PER 1AS 29 –ASSESSMENT OF FACTORS

Paragraph Factor

3(a)

– ASSESSMENT OF FACTORS

The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency held are immediately invested to maintain purchasing power;

3(b) The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency;

3(c) Sales and purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short;

3(d) Interest rates, wages and prices are linked to a price index; and

(e) The cumulative inflation rate over three years is approaching, or exceeds, 100%.

CONCLUSION

Conclusion

Not met.

Met

Determining hyperinflation requires significant judgment and consideration of all relevant indicators. After thorough analysis of the above indicators, the FRC concludes that Nigeria is not yet a hyperinflationary economy. Therefore, IAS 29 should not be applied in the preparation of financial statements for the year ended December 31, 2024. The FRC will continue to monitor economic developments and update this position for 2025 financial year as the need arises.

DR. RABIU OLOWO EXECUTIVE SECRETARY/CEO

22nd January 2025.

Table

Table 1: SUMMARY OF THE INDICATORS AS PER 1AS 29

Acting Group Politics Editor DEJI ELUMOYE

Email: deji.elumoye@thisdaylive.com

08033025611 sms only

Dagogo: PDP Has Capacity to Displace APC at the Centre in 2027

a close associate of late former President Umaru Musa Yar’adua and chieftain of the Peoples Democratic Party in Rivers state, Dr Farah Dagogo, in this interview speaks about salient national issues including the need to rework the proposed 2025 federal budget for the overall interest of the citizenry and the possibility of the PDP forming an alliance with other parties to dislodge the all Progressives Congress at the centre during the 2027 general election. Blessing Ibunge brings excerpts:

You were close to former President Umaru Musa Yar’Adua, of blessed memory. You spoke glowingly of him as well. Do you truly believe his stay in office, in terms of performance, would have been reference point for other presidents if death hadn’t cut short his presidency?

Absolutely! Late President Umaru Yar’Adua would have been Nigeria’s all time best President. But God, in His infinite wisdom, knows why his life and stay in office had to be cut short. As a former governor of Katsina State, he understood the enormity of the job at hand and came fully prepared.

His performances in his less than three years were stellar and unmatched in that duration. Let me start from my region, the Niger Delta. He came in at the height of the region’s struggle with the Federal Government.

To his credit, he not only doused and nipped in the bud the then seemingly intractable issues sweeping across the volatile region, he went a step further by addressing the infractions the region had suffered consistently from previous government by setting in motion and implementing policies that tamed those concerns. For the first time in its annals, the Nigerian government, through President Umaru Yar’Adua, admitted its part in failing to develop a region that is the revenue base of the nation but was left to rot, suffer unmitigated pollution and other environmental hazards as a result of years of oil exploration and exploitation. He did not only stop at acknowledging government’s previous deaf ears to the region’s cries, he took the bull by the horn, he listened, he reconciled all warring parties and followed it up with genuine and sincere drive towards achieving both human and economic prosperity and development for the region. He set up programme, which saw thousands of youths going abroad for studies and professional training. He breathed fresh air into the NDDC and his tenure equally witnessed an uncommon revenue boom for governors of the Niger Delta.

His achievements and all-round government transformation were, however, not limited to the Niger Delta, as it also spread across the country. He judiciously followed up his seven-point-agenda of food security, wealth creation, transport sector, land reforms, security, power and energy, education to the letters. Yar’Adua’s Nigeria was on the road of economic sustainability, prosperity and boom. We were marching onto the Nigeria of our dreams before death struck.

Give us an insight into the late president’s personality from your perspective and what would you say was his highpoint legacy compared to today’s contemporary Nigeria?

The late President Umaru Yar’Adua was a good man who meant well for Nigerians and the country. He was not after personal aggrandizement! There was a communication number he provided for me. Almost every midnight, he would call me on that line and shared his dreams and visions for the Niger Delta and Nigeria at large.

He told me with all equanimity that none of the regions in the country would have accepted what the government had been doing to the Niger Delta without resorting to self-help and that’s why he was very determined to right the wrongs of the past in his little way. He was solemn and sober about it. We were in constant communication until some few months before he eventually caved in to the powers of death. Even as death was lurking around, he never gave up hope on contributing his quota towards

making Nigeria great and bettering the lives of its citizens.

The man was truly an enigma, he was remarkably unflappable in spite of every second challenges and chaotic circumstances that come with governing Nigeria. He was more focused on the solutions. Let me tell you something that transpired when the then Aaron Team, set up by the President to chart a course for the speedy development of the Niger Delta region, met with him.

I was the youngest member of that team under the Chairmanship of Nobel Laureate, Prof Wole Soyinka, that had Major General Luke Kakadu Aprezi (rtd), former Chief of General Staff, Vice Admiral Okhai Mike Akhigbe (rtd), among others, as members. We

were a 12-member team. Remember, I told you earlier that he understood the enormity of his job as president and came prepared. He further proved this at that meeting held at his private bedroom in Aso Villa. President Yar’Adua demonstrated how motivated he was concerning the Niger Delta debacle. He brought out an already prepared map detailing his developmental plans. It was so insightful that we, the Aaron Team, were dumbfounded. We were all astonished with that honest disposition of purpose displayed by the president. The president’s blueprint was even more insightful and far-reaching than what the Aaron Team was proposing. There and then a consensus was agreed with the Aaron’s Team aligning themselves with that brought forward by the president.

I just want you to understand how passionate

The PDP has the capability to spearhead the charge towards dislodging the ruling APC, but will need the support of others which can be termed alliance. The whole idea is to give nigerians a viable alternative. Give them a better country than what they are experiencing now, make their lives better, ease their sufferings, sorrow and anguish. The cries are loud, the people want something different. And the PDP can deliver on that front. But the PDP has to put its house in order and prove to n igerians that it can be entrusted with the country’s future once more.

the President was about developing the Niger Delta. He didn’t just rest on his oars that he had set up a working team, he still went out of his extremely busy schedule to see how he could contribute to its success.

All was on course, before his sickness crept in that eventually led to his death. The late president is a man of honour whose words were his bond. I think one of his greatest legacies would also be the restoration of the hope of the common man in the judiciary. Under his watch, the courts regained their freedom and spoke truth and dispensed justice in the real sense of it. The courts without any encumbrances handed down verdicts that cancelled political victories even though his party, the PDP was at the receiving end. Of course, there were pressures and angst among the faithful who wanted some form of executive intervention and continuation of what was applicable in the system. But, President Yar’Adua, being a man of strong commitment to the tenets of democracy, stood his ground. He was not vindictive as it didn’t take him long to release the over N10 billion Lagos State local government councils’ funds withheld by his predecessor. He was the only president that did not increase fuel prices. Rather, he reduced it per litre from N75 to N65 in less than a month in office in June, 2007. He was also the country’s first ever president to declare his assets. He equally ensured the successful dredging of River Niger, which was abandoned for over 40 years. Just like many Nigerians and foreigners alike, who have come to know and understand the man, that Wednesday of May 5, 2010, when President Yar’Adua had his last breath, will forever remain indelible and etched in our hearts. That day was personally emotional for me and as a human, I equally had to bow to the emotional flow of nature. With his passage, I lost a mentor, a friend, a confidant, a father. As for Nigerians, while they lost a son on that day, recent events in our political climate have shown that what we actually lost that day, in the words of the reverred Dr Nnamdi Azikiwe, was a sun! He was simply the best.

Let’s talk party politics and the road to 2027, the Court of Appeal gave a ruling that sent Samuel Anyanwu packing as National Secretary of PDP, replacing him with Ude-Okoye and that seems amenable to majority of the PDP members. Do you think the party is gradually getting its house in order? Also, would you support the idea of forming alliances?

Let me join the majority in swimming with the tide. It is a welcome development. However, it is not yet Uhuru. I hope all legal wrangling will now be put to rest and let the party make appreciable progress. Like I have said before, the root cause has to be uprooted and treated fully. I have pointed out some of those recently. We can learn from it and devise workable solutions. And that leads me to your follow-up question. The PDP has the capability to spearhead the charge towards dislodging the ruling APC, but will need the support of others which can be termed alliance. The whole idea is to give Nigerians a viable alternative. Give them a better country than what they are experiencing now, make their lives better, ease their sufferings, sorrow and anguish. The cries are loud, the people want something different. And the PDP can deliver on that front. But the PDP has to put its house in order and prove to Nigerians that it can be entrusted with the country’s future once more.

Dagogo

FEaturEs

Hazie Masters Club: Blending Investment, Charity, and Camaraderie to Redefine Social Clubs in Nigeria

In a country where social clubs are often seen as mere avenues for leisure and networking, Hazie Masters International Club is charting a different course. This Lagos-based organisation has seamlessly combined investment, philanthropy, and camaraderie to establish itself as a trailblazer among social clubs in Nigeria. Under the leadership of High Chief Richard Ifeanyi Agbapuru, the club has not only achieved significant milestones in the hospitality industry but has also demonstrated an unwavering commitment to uplifting the less privileged. Precious Ugwuzor writes that with a N7 billion valuation and a soon-to-be-completed 62-bedroom hotel in Lagos, Hazie Masters is proving that social clubs can be engines of economic growth and social change. As its vision expands to include further investments and scholarship initiatives, Hazie Masters is setting the standard for what it means to be a modern, impactful social club in Nigeria

In the heart of Lagos, Hazie Masters International Club is setting itself apart not just as a social club but as a transformative force in Nigeria’s hospitality industry and a beacon of hope for the less privileged. With a vision firmly grounded in investment and philanthropy, the club, under the leadership of High Chief Richard Ifeanyi Agbapuru, is rewriting the script for how social clubs operate in contemporary Nigeria.

A Hotel to Revolutionise Hospitality

Hazie Masters is on the brink of completing its flagship project – a 62-bedroom hotel located on Ago Palace Way in Okota, Lagos. Expected to be ready by March or April 2025, the multi-storey hotel is a testament to the club’s commitment to long-term investment and economic development.

Speaking at the club’s end-of-year party, High Chief Agbapuru emphasised the importance of this milestone: “Our club has achieved much this year, particularly with respect to our investment objectives,” he said. “Once the current hotel is completed and becomes functional, we plan to embark on another hotel project in Victoria Island.”

The upcoming project, like the Okota hotel, is expected to generate jobs for both graduates and non-graduates, underscoring Hazie Masters’ dedication to creating opportunities for Nigerians.

Charity: The Cornerstone of Hazie Masters

While Hazie Masters is making waves in the business world, it remains deeply committed to its philanthropic roots. High Chief Agbapuru explained that the club was founded with the primary aim of uplifting the less privileged, and this goal remains central to its activities.

“Hazie Masters has done much in its charity works by positively affecting the lives of motherless babies and other less privileged Nigerians,” he said.

To further its impact, the club plans to launch a scholarship scheme for indigent students across Nigeria. This initiative, Agbapuru noted, is in line with Hazie Masters’ belief in supporting education and providing opportunities for those in need.

A Unique Approach to Social Clubs

Hazie Masters International stands out as one of the most prestigious social clubs founded by people of Igbo descent. High Chief Agbapuru attributed the club’s success to the intelligence and discipline of its members, as well as their adherence to the club’s constitution.

“Hazie is the only social club that acts intelligently by making sure that what we do is in accordance with the provisions of the club’s constitution,” he said.

Unlike many other social clubs, Hazie Masters prioritises financial discipline. Agbapuru highlighted the club’s unique approach to managing its finances:

“Some clubs may generate the sum of N2 billion in a particular year and end up spending about N3 billion, thereby incurring a deficit of N1 billion. This is contrary to the way we operate at Hazie Masters. In our own case, if we generate N2 billion in a year, we can spend N1.5 billion and plough back the balance of half a billion into investment to generate more income. This is why we do not lack cash most times.”

This focus on sustainability and reinvestment has positioned Hazie Masters as a model for other clubs, demonstrating that social organisations can achieve financial success while still making a positive impact on society.

An Evening of Celebration and Camaraderie

The club’s end-of-year party, held at its newly completed event centre adjacent to the under-construction hotel, was a night to remember. Members and their spouses gathered for an evening of high-class entertainment, fine dining, and heartfelt appreciation. A live band from Asaba, Delta State, provided music, while guests enjoyed an atmosphere of joy and togetherness.

One of the evening’s highlights was the club’s gesture of appreciation towards its members’ wives. High Chief Agbapuru explained the rationale behind this: “This is a way of appreciating our wives and to make them show us more love,” he said.

Not less than N42 million was raised as take-away cash for the women, and they were also presented with high-quality

gift items. This public show of love and gratitude reinforced the strong family values that Hazie Masters promotes.

The evening was made even more special by the contributions of six club members who sponsored the event. Agbapuru praised their generosity, stating, “These members spent huge sums of money to ensure that every arrangement was top-notch. They were joyfully appreciated along with their spouses.”

Leading the Wealthy

Leading Hazie Masters International Club, a group of successful industrialists and businessmen, is no small task. High Chief Richard Ifeanyi Agbapuru, who serves as the club’s chairman, candidly shared the complexities of managing a group of wealthy and independent-minded individuals.

“Leading a club of men who are financially rich in their own right is not a child’s play because rich men are the most difficult people to lead,” he admitted. “In most cases, one would observe some care-free attitude, and to checkmate such behaviour is not easy. Sometimes, we disagree so much among ourselves, but the good thing is that at the end of the disagreement, we come to an agreement and move forward.”

Despite these challenges, Agbapuru expressed satisfaction with the progress made under his leadership, noting that unity among members remains a driving force for the club’s success. “We are largely doing our best in terms of leadership, and hopefully, we shall get to the level where everyone understands what we are doing. We are happy with our members,” he said.

A Legacy of Sustainability and Impact

Hazie Masters International Club is not just about socialising; it is a symbol of how social clubs can be engines for economic growth and social transformation. By blending

investment with philanthropy, the club is proving that organisations rooted in culture and camaraderie can also be agents of meaningful change.

With a hotel project set to redefine hospitality in Lagos, plans to expand to Victoria Island, and a robust philanthropic agenda, Hazie Masters is laying the groundwork for a legacy that extends beyond its members. Its disciplined financial approach, rooted in sustainability, ensures that the club remains financially secure while delivering on its promises to society.

The Future of Hazie Masters International

As the club looks to the future, it is clear that its vision extends far beyond its immediate projects. The planned scholarship scheme, alongside ongoing investments, underscores Hazie Masters’ commitment to building a better Nigeria. High Chief Agbapuru’s leadership has been instrumental in charting this course, and his pragmatic approach to challenges ensures that the club remains on track to achieve its goals.

The end-of-year party, a celebration of achievements and a testament to the club’s values, reflected the strong bonds that hold Hazie Masters together. With live music, heartfelt tributes, and an atmosphere of shared joy, the event encapsulated the spirit of a club that is much more than a social gathering – it is a community dedicated to making a difference.

As Hazie Masters International Club continues to grow, it serves as a shining example of what is possible when vision, discipline, and compassion come together. In the words of High Chief Agbapuru, “We are happy with what we have achieved so far, and we are confident that the future holds even greater things for Hazie Masters.”

This mix of intelligent leadership, sound financial management, and a commitment to social responsibility has cemented Hazie Masters International’s reputation as one of Nigeria’s most prestigious and forward-thinking social clubs. It is a model that others would do well to emulate.

Hazie Masters Club members

High Chief Richard Agbapuru, President of Hazie Masters Club and his wife

www.thisdaylive.com

opinion@thisdaylive.com

A BREATH OF FRESH AIR

A new era begins in Lagos as the state legislature and executive unite for a common good, writes YUSUF ADEMOLA

See page 20

NORTHERN GOVERNORS ON THE TAX REFORM BILL ABIODUN

OLUWADARE argues that reason and dialogue can prevail, even in politically charged

Innocent citizens and visitors are forcibly disappearing under President Ruto’s watch, writes CHIDI ANSELM ODINKALU

IN KENYA, WILLIAM RUTO’S HUSTLE IS ABDUCTIONS

Colonial occupation and domination prospered by abducting and liquidating the most vocal Africans. Those whom it drove into exile were lucky. Sir Evelyn Baring invented the manual on this form of predation as governor of colonial Kenya for seven years until 1959. Six decades after independence, the man who rode to power in Nairobi two years ago by promising to make Kenya great again is unapologetically reprising Sir Evelyn’s manual minus the internment camps.

In June 2021, Abubakar Malami, a Senior Advocate of Nigeria (SAN) and Nigeria’s federal Attorney-General, announced with some relish that Nnamdi Kanu - selfproclaimed leader of the Indigenous People of Biafra (IPOB) - had been returned to Nigeria after being “intercepted” in an un-named location. Malami had initiated the prosecution of Mr. Kanu in 2015 for treason. In April 2017, the courts granted bail to Kanu. Five months later, he disappeared from public view after soldiers reportedly raided his country home in Abia State in south-east Nigeria leading to scores of fatalities. The following month, he was reportedly sighted in Jerusalem.

The circumstances of Mr. Kanu’s return to Nigeria in 2021 degenerated quickly from mystery to controversy. The International Criminal Police Organisation (INTERPOL), whom Nigeria initially credited with assistance in the “interception”, firmly denied any involvement in the operation.

When he announced the “interception” of Mr. Kanu, Attorney-General Malami claimed that it was accomplished by the “collaborative efforts of Nigerian intelligence and security services.” In October 2022, however, Nigeria’s Court of Appeal found as a fact that Mr. Kanu “was in Kenya, was abducted therefrom and there were no extradition proceedings undertaken prior to his forcible abduction.”

Kenya unconvincingly denied involvement in the abduction. Very importantly, however, the Government of Kenya (GOK) offered no protest against what was clearly a spectacular violation of its sovereignty. The conclusion had to be that the GOK authorized Mr. Kanu’s abduction from its territory. Prior and subsequent conduct by the GOK provide ample evidence to support this.

On 2 February 2018, operatives of Kenya’s security services used explosives to gain entrance into the premises of former student leader and lawyer, Miguna Miguna, from where they abducted him into detention incommunicado. After several days of keeping him out of circulation, they drove Dr. Miguna to the Jomo Kenyatta International Airport in Nairobi, where they declared him a “prohibited immigrant” and deported him to Canada.

As a prominent student leader during the regime of President Daniel Arap Moi in the 1980s, Miguna was exiled to Canada. From there, he sought several times without success to renew his Kenyan nationality documents. Canada eventually granted him refugee status and he traveled initially under documentation provided by the United Nations High Commissioner for Refugees before eventually

being forced to acquire Canadian nationality.

Upon returning to Kenya in 2007, Dr. Miguna enrolled as a lawyer, served as senior adviser to the Prime Minister and subsequently ran for high public office. It was not in dispute that both of his parents were Kenyans or that he was Kenyan by birth and by descent. In a decision on 14 December 2018, the High Court of Kenya found that the government of Kenya abducted and deported Dr. Miguna “despite court orders directing that he be produced in court” and lamented the fact that “it is inconceivable that the state can deport its own citizen to a second country without due regard to the constitution and the law.”

William Ruto was Kenya’s Vice-President when Mr. Kanu and Dr. Miguna were abducted. In 2022, he became president.

On 16 November 2024, leading Ugandan opposition politician, Dr. Kiiza Besigye, who was in Nairobi to attend the launch of a book by former Kenyan Justice Minister and senior lawyer, Martha Karua, disappeared. Five days later, he surfaced before a military tribunal in the custody of the Uganda Peoples Defence Force (UPDF) on fanciful charges of illegal possession of firearms. United Nations High Commissioner for Human Rights, Volker Türk, expressed shock at “the abduction of Ugandan opposition politician Kizza Besigye on 16 November 2024 in Kenya and his forcible return to Uganda.”

Dr. Besigye’s experience was not the first abduction of Ugandan opposition in Kenya. In July 2024, Kenya’s security services similarly snatched 36 members of Dr. Besigye’s Forum for Democratic Change (FDC) who were in the country for a meeting and expelled them to Uganda into the arms of the UPDF, who promptly charged them with “terrorism” before a military tribunal. The United Nations later expressed concern that President Museveni’s practice in Uganda of charging civilians before military tribunals was “in contravention of the country’s obligations under international human rights law.”

In October 2024, Kenyan authorities similarly abducted seven Turkish refugees and refouled them back to Turkey into the arms of the government that had exiled them.

In the period since the anti-Finance Bill protests in the country between June to December 2024, Kenya’s National Human Rights Commission has reported the abduction and disappearance of at least 82 persons. Some of the abducted have turned up dead. When

young people in Nigeria protested two months after their colleagues in Kenya, the Nigerian government decided to borrow a leaf from President Ruto’s playbook.

Back in Nairobi, one of the victims of these abductions by the GOK was Leslie Muturi. His father, Justin Bedan Muturi, happens to be the Cabinet Secretary (Minister) for Public Service in the government President Ruto. Around June 22, 2024, Leslie Muturi was disappeared. At the time, his father, Justin, was the AttorneyGeneral of Kenya and sat in the National Security Council with the Director of National Intelligence Service, Noordin Haji.

In the past week, Justin Muturi has narrated how his effort to locate his son took him through the entrails of the high command of Kenya’s deep state to the presence of his boss, President Ruto, who ordered Noordin Haji to release Leslie. Less than an hour thereafter., Leslie returned to his family.

Justin Muturi’s clinical account of what transpired in the disappearance of his son clearly establishes the culpability of Kenya’s president and security high command under him in resuscitating a culture of state-sponsored abductions redolent of the worst excesses of Sir Evelyn Baring’s colonial era abuses.

After denying culpability last November, President Ruto promised on 28 December 2024 to end the abductions, in effect admitting state complicity. Two days later, the continental human rights body of the African Union expressed “profound alarm over reports of abductions and enforced disappearances in Kenya.”

Less than a fortnight into the New Year, Tanzania’s leading independent journalist, Maria Sarungi Tsehai, survived an abduction from a shopping mall in Nairobi. Ms. Tsehai and her family have been exiled in Kenya for over four years. Maria was lucky. Two years earlier, Kenyan police officers murdered exiled Pakistani journalist, Arshad Sharif, in Nairobi. Despite a court order and appeals by the United Nations, his killers continue to escape accountability.

When they re-established the East African Community in 1999, the original partner states in East Africa – Kenya, Tanzania and Uganda - desired to advance transactional life and spaces in the region. Under current leadership, however, these states are now using regional integration to advance the expendability of African civic and transactional life. They are collaborating across inter-state borders to liquidate critics and perceived enemies and make their lives precarious.

It seems clear that these abductions in Kenya are taking place under the direct command of government or, even more frightening, have been outsourced to non-state actors acting under the authority and protection of the State. The latter may explain the intractable nature of the abductions and the inability of Ruto’s GOK to bring it under control despite the assurances of the President and the escalating diplomatic costs and investment runs.

A lawyer and a teacher, Odinkalu can be reached at chidi.odinkalu@tufts.edu

REPORT OF THE INDEPENDENT AUDITOR ON THE SUMMARY FINANCIAL STAT E M E N TS TO T H E S H A R

P LC (FORMERLY TRANSCORP POWER LIMITED)

Opinion

The summar y financial statements which comprise the summar y statement of financial position as at 31 December 2024 and the summar y statement of profit or loss and other comprehensive income are derived from the audited financial statements of Transcorp Power Plc (Formerly Transcorp Power Limited) for the year ended 31 December 2024.

In our opinion, the accompanying summar y ﬁnancial statements are consistent, in all material respects with the audited ﬁnancial statements in accordance with IFRS Accounting Standards in compliance with the Financial Repor ting Council of Nigeria (Amendment ) Act, 2023 and with the requirements of the Companies and Allied Matters Act 2020.

Summar y Financial Statements

The summar y financial statements do not contain all the disclosures required by the IFRS Accounting Standards and the Companies and Allied Matters Act, 2020. Reading the summar y financial statements and the auditor's repor t thereon, therefore, is not a substitute for reading the audited financial statements and the auditor's repor t thereon. The summar y financial statements and the audited financial statements do not reflect the effects of events that occurred subsequent to the date of our repor t on the audited financial statements

The Audited Financial Statements and Our Repor t Thereon

We expressed an unmodiﬁed audit opinion on the audited ﬁnancial statements in our repor t dated 22 Januar y 2025.

Directors’ Responsibility for the Summar y Financial Statements

The Directors are responsible for preparing and presenting an appropriate summar y of the ﬁnancial statements, in accordance with IFRS Accounting Standards in compliance with the Financial Repor ting Council of Nigeria Act, 2023 and with the requirements of the Companies and Allied Matters Act, 2020.

Auditor's Responsibility

305,943,634 (163,733,739)

Our responsibility is to express an opinion on whether the summar y ﬁnancial statements are consistent, in all material respects, with the audited ﬁnancial statements based on our procedures which were conducted in accordance with International Standards on Auditing (ISA) 810 (Revised), Engagements to

Repor t on Summar y Financial Statements.

Repor t on Other Legal and Regulator y RequirementsThe Company complied with the ﬁfth schedule of the Companies and Allied Matters Act, 2020.

Abraham Udenani, FCA - FRC/2013/PRO/ICAN/004/00000000853

For: Deloitte & Touche Char tered Accountants Lagos, Nigeria 23 Januar y 2025

Nnorom

Dr. Innocent Akuvue

Mr. Chika Ikenga

Engr Obi Uzu

Engr Gbolahon Lawal

Engr. Ibe C. Ibe

Chief Joe T Penawou

Dr Emi Membere-Otaji

Mr. Stanley Egege

Engr Matthew Omoregbee

Engr Casimir Maduafokwa

Mr. Shawley Coker

Engr. Valentine Obidi

Engr Dozie Obi

Engr. Dapo Oshinusi

Dr. Timi Austen-Peters

Mr Kayode Alabaja

Engr Kayode Odusami

Mr. Wale Adelaja

Mr Nik Odinuwe

Mr Solomon Ewanehi

Mr. Ranti Omole

Engr Emmanuel Onyekwena

Mr Akin Osuntoki

Mr.Henry Okolie-Aboh

Dr. Ibilola Amao

Engr Osita Osaji

Chike Uchendu

Mr Bolaji Ososami

Prof. Onyekonwu Obi

Engr. Eloka Ejeh

Engr Emeka Ene

Engr. Austin Joseph

Mr. Peter Ejiofor

Engr Ernest Ojukwu

Engr Geoff Onuoha

Mr. Chinedu Maduakoh

Engr Dr Okezie Akwiwu

Mr Stephen Aribeana

Dr. Daere Akobo

Dr Okey Ukaegbu

Chief Charles Wami

Engr. Oliver Agbasoga

Mr. Kachi Ekezie

Mr Martin Umeh

Mr. Felix Awolaja

Prince Bamidele Olagunju

Mr Tony Okoroafor

Sir Emmanuel Okene

Dr. Steve Ayiyi

Engr Barth Nwibe

Engr Sheba Palama

Engr. Dr. John Erinne

Disere Leghemo

A new era begins in Lagos as the state legislature and executive unite for a common good, writes YUSUF ADEMOLA

A BREATH OF FRESH AIR

A new dawn beckons in Lagos as the Governor of Lagos State, Babajide Sanwo-Olu, on Monday, pledged to work harmoniously with the Speaker of the Lagos State House of Assembly, Mojisola Meranda, to deliver policies that will benefit Lagosians.

The emergence of Mojisola Meranda as the new Speaker has been widely welcomed as a breath of fresh air. A seasoned legislator with a track record of service and dedication, Meranda’s leadership style is expected to prioritize inclusivity, accountability, and collaboration.

In her inaugural address, Meranda emphasized her commitment to fostering a harmonious relationship with the executive arm, championing people-oriented policies, and ensuring the legislative arm fulfills its oversight responsibilities effectively. Her leadership style represents a departure from the perceived high-handedness of her predecessor, signaling a new era of governance driven by mutual respect and shared goals.

Governor Babajide Sanwo-Olu’s response to the leadership transition in the House of Assembly has been measured and forward-looking. He wasted no time in pledging his administration’s commitment to working closely with the new Speaker and her team to advance the Greater Lagos agenda.

During a courtesy visit by Meranda and her principal officers, the governor reiterated his focus on governance, emphasizing that the synergy between the executive and legislative arms is essential for implementing policies that benefit the people. His assurance of support for the new leadership reflects his understanding of the critical role the legislature plays in shaping a responsive and effective government.

The importance of a unified government cannot be overemphasised. The unity between the executive and legislative arms of government is a cornerstone of effective governance. When these two pillars work in harmony, the result is a government that is more capable of addressing the needs of its citizens. In Lagos, this alignment is particularly significant given the state’s complexity as a melting pot of cultures, economic heartbeat of the nation, and densely populated urban city.

The commitment to collaboration comes at a crucial time when Lagos is grappling with socio-development challenges such as urban congestion, unemployment, housing deficits, and climate change. A united government is better positioned to develop innovative solutions to these problems and ensure that the benefits of governance reach every corner of the state.

Mudashiru Obasa’s tenure as Speaker of the Lagos State House of Assembly ended amidst

allegations of misconduct and financial misappropriation. His impeachment was the culmination of growing dissent within the Assembly, as lawmakers increasingly questioned his leadership style and the integrity of his administration.

Obasa’s exit marked the end of a controversial chapter in Lagos’ legislative history. During his tenure, he wielded significant influence but was also a polarizing figure, with critics alleging a lack of transparency and accountability. His removal, while dramatic, represented a necessary step towards restoring trust in the legislative institution and recalibrating the balance of power in Lagos governance.

The recent developments in Lagos State politics have ushered in a new era marked by collaboration, renewal, and hope. Following the removal of Mudashiru Obasa as Speaker and the subsequent inauguration of Hon. Mojisola Meranda as his successor, the commitment of both the legislative and executive arms of government to work together harmoniously, signalled a transformative moment for governance in Nigeria’s most populous and economically vibrant state.

The developments in Lagos State offer valuable lessons for other states in Nigeria. The peaceful transition in the House of Assembly and the commitment to collaboration demonstrate the potential for democratic institutions to function effectively.

Other states can emulate Lagos by fostering a culture of mutual respect between their executive and legislative arms, prioritizing good governance over personal interests, and focusing on policies that address the needs of their citizens.

Governor Sanwo-Olu and Speaker Meranda have a unique opportunity to redefine governance in Lagos by working together to address the state’s pressing challenges and unlock its immense potential. Their commitment to unity serves as a beacon of hope for Lagosians and a reminder that when leaders put the people first, progress becomes inevitable.

As this new chapter unfolds, all eyes will be on Lagos to see how this alignment of leadership will translate into tangible benefits for its residents. The future of Lagos is bright, and with unity at the helm, the possibilities are limitless.

In all, the hero of the entire captivating episodes that heralded the new era of order in Lagos governance architecture is the dynamic and performing governor of Lagos State, Babajide Sanwo-Olu, who handled the entire provocative scenarios with calmness and wisdom. He condoned the excesses of the ousted speaker.

As the chapter opens in Lagos, the pace of ongoing development across sectors, is expected to move even faster. The working THEME plus agenda that has been widely applauded as inclusive will impact more communities and lives of millions of Lagosians.

With a population of over 20 million, Lagos faces immense pressure on its infrastructure. Unified governance will particularly accelerate the completion of key projects such as roads, bridges, and housing initiatives, ensuring that they are delivered on time and meet the needs of residents. Other areas that will experience unprecedented growth include education and healthcare, economic empowerment, environmental sustainability, urban security, among others.

Lagosians are in for the best of seasons as the legislature and executive unite on common purpose of advancing the development needs of the people of the state.

Ademola writes from Lagos

ABIODUN OLUWADARE argues that reason and dialogue can prevail, even in politically charged environment

NORTHERN GOVERNORS ON THE TAX REFORM BILL

In a democratic society, constructive dialogue and informed decision-making are essential for fostering equity and progress. This principle underscores the importance of leadership that acts with prudence, especially when dealing with sensitive policy matters. Unfortunately, the recent Northern governors' hasty rejection of President Bola Tinubu's tax reform bill, without thorough deliberation, raises questions about leadership quality and decision-making in critical moments.

The proposed tax reform bill aimed to introduce equity into governance, ensuring that resources and responsibilities were distributed more fairly across the country. Rather than engaging with the merits of the bill, the Northern governors, in unison, hastily dismissed it, citing concerns that it would impoverish their region. This premature and reactionary stance temporarily stalled further debate in the National Assembly, denying the country an opportunity for a thoughtful examination of the reform’s potential benefits.

It is significant to realize that leadership demands a measured approach, particularly when addressing complex issues like tax reform. Governance is a continuous process of balancing regional needs with national goals, a task that requires open-mindedness and a commitment to the collective good. The governors’ reaction not only undermined this process but also created a wave of unnecessary public agitation which in itself is dangerous to the political stability of the country. Supporters of these leaders amplified their rejection, polarizing public discourse and fostering biases that could deepen regional divides.

Implementing such a reform, it must be acknowledged, will likely come with initial difficulties. Nevertheless, these challenges are necessary to lay a foundation for equitable development across the country. History teaches us that the sooner equitable systems are adopted, the better positioned a nation is to avoid future systemic imbalances. This reform echoes the ethos of development seen in Nigeria’s First Republic when equitable resource distribution fueled progress in education, agriculture, infrastructure, and other sectors. It is time to move forward with such measures rather than postponing an inevitable reckoning. As the saying goes, it is better to teach someone to fish than to give them fish. Economic independence for the country’s sub-units will ultimately enhance national stability and prosperity.

With what has happened, imagine a different scenario: if these governors were military generals in the heat of battle, a hasty decision made without adequate analysis could lead to catastrophic losses in personnel and resources. Whether in war or governance, leadership

must be proactive, informed, and geared toward sustainable outcomes. This episode highlights the risks of impulsive decisionmaking by those entrusted with shaping the nation's future.

However, there is a silver lining. Reports from media outlets suggest that the governors have since reconsidered their initial stance. This change of heart, though belated, is a welcome development. It signals that reason and dialogue can prevail, even in politically charged environments. Yet, the damage caused by their earlier position cannot be entirely undone. By rushing to reject the bill, they inadvertently created fissures that may take time to heal.

The implications of this incident extend beyond the specifics of the tax reform bill. It serves as a cautionary tale for political leaders nationwide, emphasizing the need for responsible and informed governance. Leaders must be guided by a vision for the common good, rather than immediate regional or political interests. They must understand that their decisions have farreaching consequences, influencing public opinion, shaping policy debates, and ultimately affecting the lives of millions.

To move forward, political leaders across Nigeria must adopt a more collaborative and reflective approach to governance. The tax reform bill presents an opportunity to address systemic inequalities and lay the foundation for a more equitable society. Rather than allowing regional biases to derail progress, leaders should engage in constructive dialogue, seeking common ground and workable solutions.

Leadership is not merely about representing regional interests but about charting a path for national unity and development. The Northern governors’ initial reaction to the tax reform bill was a misstep, but their willingness to reconsider offers a chance to correct course. It is now up to them, and indeed all leaders, to demonstrate the courage and foresight required to guide Nigeria toward a brighter future.

Let this moment serve as a reminder: in governance, as in life, deliberation and dialogue are far more productive than haste and division. Responsible leadership demands nothing less. And as we embrace the challenges of reform today, we pave the way for sustainable growth and equal development tomorrow.

Col Oluwadare (rtd) is of the Department of Political Science, Nigerian Defence Academy, Kaduna

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

ON LOKPOBIRI’S OIL INDUSTRY FORUM

The stakeholders’ meetings should be meaningful and productive

Last Thursday, key players in the oil and gas industry gathered in Abuja to lay the groundwork for what would become a bi-monthly or quarterly meetings of stakeholders in the sector. While this may sound laudable on the surface, when viewed against the backdrop of such hordes of meetings the sector has witnessed in recent years without any appreciable change, many are wont to see the idea as another jamboree. Indeed, those who label the new Petroleum Industry Stakeholders Forum as another talk-shop may not be wrong, especially given that the sector already has several fora for interactions.

From global events like the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the largest oil and gas event in the Middle East to the CERAWeek, an annual conference in Houston, Texas which brings together industry leaders, policymakers, and experts to discuss energy issues and trend, Nigeria has been a consistent participant at these gatherings, sending large delegations every year. At home, aside from the regular almost daily and weekly meetings of stakeholders, there are also the Nigerian International Energy Summit (NIES), the Nigeria Annual International Conference and Exhibition (NAICE), the NOG Energy Week Conference & Exhibition, among many others. These conferences cost time, money and other resources to organise.

2024 during the Africa CEO panel in Kigali, Rwanda, when he openly criticised Nigeria for talking too much and doing very little. “Nigeria loves to open topics without closing them. You love to debate,” Pouyanne said while speaking about the frustration of many companies with developments in our oil and gas sector. “When you have such permanent debates, it’s difficult for investors looking for longterm structure to know what direction to go.”

The penchant for meetings without the required follow-up is already a subject of global discourse with many deriding our country as a place where so much time is wasted on such meaningless enterprise

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

THE OMBUDSMAN KAYODE KOMOLAFE

While we do not want to discourage the Minister of State, Petroleum Resources (Oil), Heineken Lokpobiri from his quarterly sessions, we hasten to say that it must go beyond the usual talk shop to be of any value. The penchant for meetings without the required follow-up is already a subject of global discourse with many deriding our country as a place where so much time is wasted on such meaningless enterprise. TotalEnergies' global Chief Executive Officer, Patrick Pouyanne, said that much in May

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

Although the Niger Delta remains the most prolific part of West Africa in terms of oil and gas reserves, Pouyanne pointed out that because of continuous debates, there has not been a single exploration in Nigeria for 12 years. "It’s important to have a debate and then settle it and put a framework on the table that investors can trust," he advised. Understandably, he got some bashing from Nigerians, especially given the seemingly condescending manner with which he spoke. But beyond emotions or nationalistic sentiments, Pouyanne wasn't altogether wrong. Besides, he was not the first to complain about the official disposition to meetings that have no meaningful end products.

If people like Pouyanne must be proved wrong, the proponents of the new initiative must ensure that set targets are followed up and that collective agreements are monitored for strict implementation. Thankfully, Lokpobiri appears to have set a clear direction or agenda for future meetings of the forum. The minister's clarification that the forum will serve as an avenue to smoothen overlapping policies, functions and activities by entities and individuals in the sector gives hope that the group may have started well.

Otherwise, if the platform will not tackle Nigeria's inability to significantly raise crude oil production, cut the cost of producing a barrel of crude oil, come up with strategies to minimise oil theft and vandalism of oil assets, and remove the bottlenecks to investment in Nigeria, then it would have failed even before it started.

Letters in response to specific publications in THISDAY should be brief (150-300 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 (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

THE BIRTH OF FUFORE EMIRATE IN ADAMAWA

No emirate, its Emir’s stool, or palace comes into existence without the foundation of law and authority, coupled with the community’s request, acceptance, loyalty, and support. It’s a straightforward process involving the people’s demand, legislative endorsement, and executive approval.

The creation of the two new emirates and five chiefdoms by Governor Ahmadu Umaru Fintiri was guided by two principles: first, the community’s request and demand, and second, the provisions of the Adamawa State Chiefs (Appointment and Deposition) Law 2024, which has been formally gazetted and is now part of the state’s statutory framework. Without this law, the governor would lack the power and legal authority to fulfill the community’s requests.

The Fufore Emirate was established based on the demands of the 12 districts and their people. For those suggesting that Gurin, Malabu, and Ribadu or any other districts were coerced into joining the Fufore Emirate, consider the example of Zumo and Song. They chose not to

join the new Yungur Chiefdom and remained with the Adamawa Emirate, while Gurin, Malabu, and Ribadu opted to be with Fufore. It’s straightforward: in a democracy, you get what you ask for.

Governor Fintiri didn’t simply wake up one morning and declare, “Let there be Fufore Emirate,” and it came into existence. It was the product of requests, demands, negotiations, mutual understanding, and the backing of law and authority.

There is a popular saying that one cannot cry more than the bereaved. Up to this moment, most of the noise about the creation of the Fufore Emirate is coming from people outside the 12 districts.

None of the 12 districts—Ribadu, Daware, Bengo, Verre, Nyibango, Kofsopah, Malabu, Malabu Kofa, Mayoine, Gurin, Beti, and Wuro Sham.—has filed a petition or challenged the creation of the Fufore Emirate or their inclusion in it. In fact, the heads of all 12 districts were the first to pledge their allegiance and pay homage to the new Lamido of Fufore, His Royal Highness Alhaji Sani Ahmadu Rib-

adu.

On behalf of the 12 district heads, the District Head of Malabu was both emphatic and unwavering in his expression of loyalty and support for the new Emirate during the reception of the new Emir in Fufore.

The Fufore Emirate, like any other emirate in Nigeria, is a product of law—established by the Adamawa State House of Assembly and gazetted in Adamawa. The emergence of the new Fufore Emirate, its Emir, and the allegiance and support of all 12 district heads and their subjects are outcomes of law, clear legal provisions, government authority, negotiation, and the people’s requests and demands. These are the fundamentals of tradition, custom, and democracy. Let us allow the citizens, friends, and neighbors of the Fufore Emirate to celebrate, as this expansion of horizons will foster development and strengthen unity, prosperity, and peace.

Zayyad I. Muhammad, Abuja

L-R: Group Chairman, Odua Investment Limited, Otunba Bimbo Ashiru; Ekiti State Governor/ father of the bride, Biodun Oyebanji; and Ogun State Governor, Dapo Abiodun, during the wedding ceremony of Oyebanji’s daughter in Ibadan, Oyo State… recently

L-R: Founder, Chimons Limited, Chibuike Achigbu, presenting an award to a fabric merchant/fashion designer, Chief Ngozi Nkoloenyi, as Patron of Women Aligned for Growth (WAG), and supported by the founder of WAG, Dr. Ifeyinwa Nwakwesi, during the annual Christmas season where palliatives and different types of gifts were given to the less privileged by the group in Lagos… recently

L-R: Mr. Robert Ade-Odiachi, Mr. Abraham Bolorunduro, and Mr. Eniola Bello (all marriage guests) during the traditional wedding of Adedayo and lyanuoluwa Kunle in Lagos… recently PHOTO: ETOP UKUTT

L-R: Executive Director, Stratdeck Consulting Limited, Dr. Victor Ikem; Hon Commissioner for Technical Education, Delta State, Hon. Smart Ijeoma Ufoh; and the Permanent Secretary, Ministry of Technical Education, Delta State, Dr. Gloria Patrick-Ferife, during the 2025 technical strategy session of the state Ministry of Technical Education, centered on the future of technical education and expanding access to relevant skills acquisition for Deltans, held in the state recently

L-R: Director-General, Bureau of Public Procurement (BPP), Dr. Adebowale Adedokun; with Chairman, Senate Committee on Public Procurement, Olajide Ipinsagba Emmanuel, during the Bureau of Public Procurement 2025 Budget defence in Abuja… recently

L-R: Company Secretary, Mutual Benefits Assurance Plc, Jide Ibitayo; Executive Director, Technical, Joseph Oladokun; Group Chairman, Dr. Akin Ogunbiyi; Director, Boye Oyewumi; and Managing Director/CEO, Femi Asenuga, during the 29th Thanksgiving Service of Mutual Benefits Assurance Plc in Lagos… recently

PHOTO: ABIODUN AJALA

HealtH & lifestyle

Menstrual Hygiene: Vestal Egbukole Foundation Splashes N50m on

Girls Students in Imo

Blessing Ibunge writes that for every underprivileged girl child, the fear of experiencing menstrual flow has always been a challenge, until Vestal Egbukole Foundation, a Non-Governmental and Non-Profit Organisation committed to transforming lives and building better futures for women and girls in Nigeria, recently impacted on the lives of 7,000 female students in Imo State secondary schools

Menstruation is a natural biological process that signifies a healthy reproductive system. Is a monthly biological process where the uterus sheds its lining, accompanied by mmenstruation bleeding, usually lasting 3-7days. It is part of the reproductive cycle and typically begins between the ages of 10 - 15years. It has been observed that proper menstrual hygiene reduces risk of infections such as reproductive tract infections and UTIs which can lead to infertility. It also reduces discomfort and helps girls stay comfortable during periods. Good menstrual hygiene has a positive impact on the overall sexual and reproductive health.

The Vestal Egbukole Foundation (VEF): Caring for the Girls Child Initiative, conceived in memory of Late Ugoeze (Lady) Vestal C. Egbukole in 2019, was founded to alleviate poverty in rural communities by inspiring and economically empowering women, enabling them to be transformational instruments in their homes and communities. The foundation which was founded by Prince Ikenna Egbukole, alongside Eze Mitchell Egbukole Foundation (EMEF) has continued to empower youths and transform lives, especially across Imo State.

While VEF focuses on uplifting women, EMEF champions youth entrepreneurship, having provided N5.9 million to eight beneficiaries in 2019, feeding of 2000 School Children in 2020 and an impressive N55.4million to 59 beneficiaries this year, 2024, together, these foundations demonstrate the transformative power of investing in women, youth, and communities, inspiring a future filled with possibilities.

In 2019, the Vestal Egbukole Foundation launched the Female Entrepreneurship Scheme, providing N120,000 each to 20 women to grow their businesses. In 2020, during the COVID-19 pandemic, VEF supported 100 women in Egbu with N5,000 each to ease financial hardship. Later the same year 2020, the foundation held the End-of -year support programme in Owerri North, benefiting 250 women each with N5,000 cash gifts, t-shirts, bag of rice, groundnut oil, tomato paste and beverages. By 2021, the program expanded to 600 women across the three LGAs of Owerri Federal Constituency, providing also incentives which so far demonstrated their continued commitment to empowering women and strengthening communities.

In commemoration of the 7th year memorial of Ugoeze Vestal C. Egbukole, the Vestal Egbukole foundation provided essential feminine hygiene products and educational materials to 7,000 female students across 10 secondary schools in the Owerri zone, Imo State.

The 10 beneficiary schools in the initiative include: Akabo Girls Secondary School, Ikeduru Obazu Girls Secondary School, Mbaitolu, Egbu Girls Secondary School, Owerri North, Imo Girls Secondary School, Owerri North, Ikenegbu Girls Secondary, Owerri Municipal, Bishop Lasbrey Girls Secondary School, Owerri West, Imerienwe Girls Secondary School, Ngo Okpala, Girls Secondary School Ahiara, Ahiara Mbaise, Girls Secondary School Amuzi, Aboh Mbaise and Eziudo Girls Secondary School, Ezinne

Ihitte. It was gathered that the foundation in this year’s project, expended about N50millin to tackle the girl children in the aforementioned schools.

The initiative which ran from December 9th to December 13th, 2024, covered all 10 selected schools over five days. Each school received support for 700 female students, with each participating student receiving: one pack of disposable sanitary pads, one pack of reusable sanitary pads, notepads and pen. The students also had medical practitioners sensitised them on hygiene and self-care.

During the programme, THISDAY gathered that Late Vestal Egbukole, a popularly recognised queen in Egbu area of Owerri was known to be neat and meticulous. As wife of the late Eze Egbu, Michel Egbukole, the queen also had great zeal in not only the ability of women to contribute economically, she insisted that young ladies should be neat inside out, in character and abilities. When she died, her children resolved to keep her legacy running. In 2019, they floated the foundation to take on various pro-women programmes.

In their earlier information on the 2024 menstrual hygiene and other incentives programmes for the girl’s child in the State, Dr Elizbeth M. Baje, (Director General), Dr Ebere Nze, (Trustee) of the foundation, observed that

access to menstrual hygiene products and education limited for many schoolgirls in the rural areas. “This results in missed school days, stigma, and poor menstrual health management, ultimately affecting their education and well-being.”

They expressed the believe that “A key component is a talk on menstrual hygiene, empowering girls with knowledge about their bodies and breaking taboos. This intervention addresses both the immediate and long-term needs for menstrual health management”, noting that “This will fit into the solution frame by combining the distribution of hygiene products with education on proper menstrual practices. It will ensure girls have the tools and understanding necessary to manage their periods effectively. The inclusion of both disposable and reusable pads provides immediate relief and a sustainable alternative.”

To arrive at 7000 girls in 10 all girl schools in the nine LGAs, the organisers said they selected one all-girls school from each of the LGAs in Owerri zone, with two schools from Owerri North, where their foundation is based. “This way, we are able to reach a wide range of students. Reaching 7,000 girls significantly reduces period poverty in the target region. This intervention ensures these girls can attend school without disruptions during their periods, fostering confidence, better health practices, and higher school retention rates.”

Such good examples could be scaled up to get to more girls with added education on how girls could value themselves the way Queen Vestal Egbukole did in her era. Partnering with other foundations, NGOs, or corporate sponsors can achieve this. “Its sustainability, according to the founder, lie in its dual approach: reusable pads to provide a long-term solution for beneficiaries, while education could equip girls with knowledge for independent menstrual management”, they explained. It was gathered that the founder is keen on ensuring continuity through

partnerships with local and international NGOs, government health agencies, and corporate social responsibility (CSR) initiatives. “Collaborative efforts can help secure recurring funding and broaden the impact.”

THISDAY also observed that members of the foundation segmented into two teams, with each team visiting one school per day. While Team A was led by Mr Ugochukwu Oparah, Uzoma Onyewuoku, Dr Ezinne Ikemananwa and Nurse Judith Nwaeke, Team B was led by Ijeoma Njemanze, Onyekachi Igbokwe, Dr Chidiebere Ossi and Nurse Uche Edeji. They all sensitised the students on the benefits of menstrual hygiene.

Some of the subtends and teachers that spoke with Journalists during the programme expressed excitement over the gestures. Principal of Akabo Girls High School, Japhet Uchenna Ejiofor, said “I am very happy to welcome the team from the foundation that has come to identify with our girl’s students. This programme is significant to us, having the girl child in mind. We appreciate the organisation for taking care of the sanitary aspect of our female students. We will keep remembering the life and time of Ugoeze Egbukole”.

Also, a teacher from the school, Amadi Chimobi, exxpressed “I was overjoyed when my principal told me about this foundation. In fact you can see (pointing at the students) the faces of our girls here, they are very happy and taking home a lot of good things that this foundation has given to them. The quality of materials they gave to the students are indeed top-notch. I want to urge them to come from to time to time to visit our girl students”. Principal of Obazu secondary school, Mrs Egwuatu Peace, in a joyful expression, said “I am so happy for what you people have done for our students. It shows that these girls lived to be cared for and you (VEF) have shown us the care. We believe you will visit us again. Our prayer is that this foundation continues to grow higher and achieve its targets”.

Also expressing gratitude to the foundation, Mrs Ngozi Nwosu, Principal of Imo Girls Government School, Owerri, stressed “We are grateful to VEF, they remembered us today, the girl child. Our women, girls here are all specially created and wired by God. To have their monthly flow keep them prepare as future mothers. Today, this foundation has taught them how to manage themselves as girls, not to be scared, how to go about it hygienically, preparing and having it safely. We are just grateful, especially those who are not yet menstruating, how to go about it, prepare them ahead of the coming of the monthly flow”.

Mrs Nwosu added that “they have also been given disposable pads and reuse pads to our girls. Each of the girls has their package to show to their parents. We thank them very much for this gesture”.

A Student of Imo Girls Government Secondary School, Wokoma Chisomaga expressed: “We are grateful to the foundation for making out time to come and educate us on our menstrual circle. It has been really educative as you can see, we got free packages, it has been interactive, we girls had time to engage in discussion”.

BudgiT Partners PSHAN to Improve Primary Healthcare in Nigeria

Esther Oluku

Social advocacy and accountability outfit, BudgiT, has partnered with the Private Sector Health Alliance of Nigeria (PSHAN) to improve primary healthcare in Nigeria.

The Memorandum of Understanding which was signed in Lagos will open a new era of accountability and efficiency within the primary healthcare space utilizing a three pronged approach; community engagement, local government participation and state government intervention

While BudgiT will channel its technology and data driven platform with its broad network of trained volunteer community based respondents to track and monitor interventions across Primary Health Centers in Nigeria, PSHAN will engage BudgiT’s data to deliver targeted interventions to Primary Healthcare facilities across Nigeria.

Speaking on the importance of partnership in revitalizing PHCs across the nation, Country Director, BudgiT, Mr. Gabriel Okeowo, noted that community engagement and igniting a sense

of ownership in communities where interventions are made, represents an integral aspect of catalyzing social change.

“Community participation is at the center of the PHC design. PHCs are designed to be in every political ward and the political ward is the closest political structure to the people. PHCs are meant to be owned by the community. The most intervention we have seen is from community participation and at BudgiT, we have built the capacity of the community to take ownership.

“We have developed a portal where we now encourage citizens to share their experiences from Primary Healthcare Centers whether good or bad which would help improve the facility. This MoU that we are signing will not just be an MoU. The execution of it will improve lives, improve communities and will give us a sense of fulfillment in what we do.”

On her part, Managing Director and CEO , PSHAN, Dr. Tinuola Akinbolagbe, stated that the partnership aims to

encourage and build public trust by using data to champion need based interventions.

“If we are customizing solutions, we have to use evidence-based information. We need data. That is not our core area and that is where we see the partnership with BudgiT working.

“If the private sector gives us funding after we’ve justified why we need them, how do we know which PHCs to start with?

How do we know which local governments to start with?

BudgiT already has an existing

infrastructure where we can get that information. And based on that information, it can guide which region needs these interventions the most.” Both partners are unanimous in their resolve to evenly distribute their interventions to centers across rural and urban communities in the country.

Okeowo said: “There are existing structures in place to ensure that our interventions is not concentrated in one area at the expense of another. That we are doing and I believe PSHAN is also doing.”

A team of doctors, members of Vestal Egbukole Foundation (VEF) and some female students during the menstrual hygiene sensitisation and distribution of pads and other school materials to 7,000 girls students in Imo State

Prince Ikenna Egbukole, founder of Vestal Egbukole Foundation (VEF): Caring for the Girls Child Initiative

ITU, Global Organisations Rally to Bridge Global

Skills Gap through Phased Implementation Plan

Emma Okonji

Given the importance of Artificial Intelligence (AI) skills in driving digital transformation globally, the International Telecommunications Union (ITU), the United Nations specialised agency that coordinates global regulation of Information and Communication Technologies (ICTs), has initiated plans to bridge global AI skills gap, through a phased implementation plan. Amazon Web Services (AWS), Microsoft, the East Africa Community and Cognizant are among more than 25 organisations from around the globe that will serve as founding contributors to the AI Skills Coalition, an initiative of the ITU to bridge the

global AI skills gap and ensure equal worldwide access to AI training.

The AI for good initiative led by ITU, recently announced the list of coalition members during the on-going World Economic Forum’s Annual Meeting in Davos, Switzerland. Through the coalition, ITU will highlight the role of digital technologies in building a sustainable future.

According to ITU, the AI Skills Coalition will serve as an online platform for AI education and capacity building. The platform will encourage inclusive participation in the AI revolution by offering open and accessible skills training on generative AI, machine learning and applying AI for sustainable

development.

The AI Skills Coalition is advancing the implementation of the United Nations’ Pact for the Future and Global Digital Compact, responding swiftly to urgent global calls for AI capacity building and addressing the growing AI skills gap to ensure inclusive access to opportunities in an AI-powered world.

Speaking about the initiative, ITU Secretary-General, Doreen Bogdan-Martin, said: “Let’s make sure everyone has a chance to learn the skills they need to benefit from the AI revolution. Our new AI Skills Coalition is aiming to train thousands of people this year, especially those living in regions of the world just

getting started on their AI journey, as part of our commitment to ensure that all communities can fully participate in our shared digital future.”

Explaining how the initiative will be implemented in phases, BogdanMartin said the upcoming AI for Good Global Summit, which will hold in Geneva from July 8 -11 2025, would feature a series of in-person workshops on skills training hosted by the AI Skills Coalition.

According to her, the AI Skills Coalition is ITU’s latest global initiative to consolidate AI education resources with a focus on underserved and marginalised groups.

“Founding organisations are

contributing training materials, financial resources and outreach support to build a new training platform developed by ITU, to be launched in March 2025. The AI Skills Coalition platform will include a comprehensive training portfolio and a customizable digital library of AI material. The site will also feature self-paced courses, webinars, access to in-person workshops, and hybrid programs tailored to diverse learning needs.

“The online resources – to be contributed by private sector partners, academia and United Nations agencies – will be available for free. Advanced certifications will be available at affordable rates. Additional programmes

for the general public as well as the certification courses will be added throughout the year. Specialised government training in AI governance, ethics, and policymaking to address the specific needs of developing countries and least developed countries (LDCs) will also be developed,” BogdanMartin said.

An estimated 94 per cent of global business leaders have highlighted Artificial Intelligence as critical for the success of their organisations in research cited in the recent AI for Good Impact Report published by ITU and Deloitte. However, insufficient technical skills, the need for extensive upskilling and reskilling, as well as the need to

Emma Okonji

Ahead of the February date slated for commencement of the implementation of the 50 per cent hike in telecoms tariff that was recently approved by the Nigerian Communications Commission (NCC), telecoms operators have embarked on a recovery process that will lead to improved telecoms services across networks.

Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), who doubles as spokesperson for telecoms operators, Gbenga Adebayo, revealed this to THISDAY, while assuring Nigerians that the tariff increase will go a long way to improve service delivery.

But in spite of the assurance, Association of Telephone, Cable Tv

and Internet Subscribers of Nigeria (ATCIS-Nigeria), has given telecoms operators two weeks ultimatum from the date of the tariff hike implementation in February, to achieve significant improvement on service quality, warning that it will return to confront telecoms operators, if services remain the same after two weeks of implementation of the 50 per cent hike in tariff.

National President of ATCIS, Sina Bilesanmi, who gave the warning, told THISDAY that although the association was initially against tariff hike, it later saw reasons why tariff should be increased to at least 50 per cent for the purpose of industry sustainability and to enable telecoms operators offer quality services that subscribers deserve. He however promised that ATCIS

would monitor the development on service quality, and would not hesitate to challenge telecoms operators if there is no adequate improvement after two weeks from the date of implementation.

“ATCIS supports the resolution of the meeting with the NCC to increase tariff, but we reject the minister’s speech at the weekend on tariff hike, because he does not have the mandate to increase tariff that will affect telecoms subscribers. We support the 50 per cent tariff increase for economic growth and industry sustainability, because we want telecoms operators to survive the on-going economic reforms in the country. But we are giving operators two weeks to fix whatever it is to be fixed, and offer us quality service” Billesanmi told THISDAY.

Reacting to Bilesanmi’s comment, Adebayo said fixing of the challenges that have lingered for several years cannot be immediate, considering the extent to which telecoms infrastructure has deteriorated and vandalised over the years that telcos have been clamouring for tariff increase.

Adebayo however assured Nigerians that work has begun and that Nigerians would soon begin to experience quality service delivery across networks.

“I want to thank President Bola Ahmed Tinubu for considering the situation of the telecoms sector that has gone so bad in the previous years. I want to also thank the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani who is the leader of

the industry, for the efforts he made in putting the right information in place, conducting an industry-based sustainability study. I also thank the regulator, the NCC, for staying at the front line in addressing our issues.

“So, what the tariff hike will do for us is that it will bring the industry out of the woods, because really and truly, we were in a bad situation, and the sector was dying gradually. Now that we have this tariff review in place, we need to begin the recovery process that will improve telecoms services.

“We will now start our recovery process as an industry, part of which will be to put at the forefront, customer satisfaction and quality of service. In view of this new development, we need to go back to rebuild, to optimise systems,

and then ensure that we deliver services that are best in-class to the subscribers,” Adebayo said. Asked when subscribers should expect better service quality, Adebayo said it would not be immediate but assured Nigerians that with time, service quality would improve.

But on the contrary, the National Association of Telecoms Subscribers (NATCOMS) has rejected the 50 per cent hike in tariff, and has threatened to go to court to challenge the Minister of Communications, Innovation and Digital Economy, as well as the NCC over the 50 per cent hike in tariff.

Fasere: Technology Adoption Will Redefine African Fashion

Founder/CEO, Pashione, a leading social commerce platform for African fashion, Michael Fasere, speaks with Emma Okonji about the company’s key achievements in 2024, its strategic priorities for 2025, and how the platform is leveraging technology, sustainability, and cultural storytelling to redefine the future of African fashion on the global stage. Excerpts:

Pashione has experienced remarkable growth in 2024. Can you share some of the key milestones achieved?

Certainly, 2024 was a transformative year for us, as Pashione experienced remarkable growth, achieving significant milestones that have strengthened its position as a leader. We successfully expanded our reach to 10 African countries, including key markets like Nigeria, Kenya, and South Africa, connecting a wider audience with authentic African fashion. A major highlight was the successful launch of our Minimum Viable Product (MVP), followed by the introduction of the Pashione Mobile Application, making it easier for customers to explore and shop African fashion on the go.

Pashione expanded its geographic footprint by securing licenses in key markets, including Nigeria, Lesotho, Kenya, and Senegal. This growth allowed us to onboard over 960 vendors across 10 African countries, empowering them through training and digital tools to showcase their creativity and reach global audiences. Our streamlined on-boarding process ensures even small-scale artisans from remote areas can thrive on our platform.

Sustainability remained a core focus as we partnered with eco-conscious designers to promote ethical practices and introduced a sustainability hub to educate consumers about sustainable fashion. Customer-centric innovations enhanced the user experience, including AI-powered product recommendations and Augmented Reality (AR) features for virtual try-ons. These milestones reflect Pashione’s commitment to empowering African designers, celebrating cultural heritage, and offering cutting-edge solutions to connect African fashion with the world. This has been crucial in building trust and credibility within the African artisan community.

What were the core pillars that contributed to Pashione’s success in 2024?

Our success was built on five core pillars: Authenticity, Geographic Expansion, Vendor Empowerment, Sustainability Leadership, and Customer-centric Innovation. We celebrate the rich heritage of African fashion by curating handcrafted, culturally significant pieces. This strategic growth allowed Pashione to onboard over 960 vendors, offering a diverse range of African fashion to a global audience.

Empowering vendors was at the heart of Pashione’s mission. By streamlining the on-boarding process and providing optimisation tools, even small-scale artisans were able to showcase their creativity and grow their businesses. Sustainability was another cornerstone, with partnerships established with eco-conscious designers and the launch of a sustainability hub to promote ethical practices and educate consumers.

Additionally, Pashione prioritised customercentric innovation, introducing AI-powered recommendations and augmented reality (AR) features for virtual try-ons, creating an engaging and personalised shopping experience that set new standards in African fashion. Finally, we foster a vibrant community of designers, influencers, and consumers, creating a dynamic ecosystem of collaboration and inspiration.

Looking ahead to 2025, what are Pashione’s key strategic priorities?

Looking ahead to 2025, Pashione is focused on driving innovation, expanding its reach, and

solidifying its role as a leader in African fashion.

A top priority is to scale its vendor network, targeting the on-boarding of over 3,500 designers and artisans from untapped African regions and over 350 Influencers with a passion for African fashion. This will provide more diverse offerings and create opportunities for African creatives to gain global exposure. The platform will also deepen its international market presence, particularly in Europe, North America, and Asia, by forming strategic partnerships with global retailers and influencers.

Technological innovation will be at the core of Pashione’s 2025 strategy. Enhancements such as AI-powered personalisation, Augmented Reality (AR) for virtual try-ons, and multilingual support will make the shopping experience more engaging and accessible to a wider audience. Sustainability will remain a cornerstone of the platform’s mission. Pashione will strengthen partnerships with eco-conscious designers, promote zero-waste production, and expand its Sustainability Hub to educate consumers on ethical fashion.

To achieve these goals, Pashione is actively seeking angel investors and venture capitalists to fuel its growth. The investment will support scaling operations, technology upgrades, and global marketing campaigns, positioning Pashione as the go-to platform for authentic African fashion worldwide.

How is Pashione addressing the growing demand for sustainable fashion?

Sustainability is a core value for us. We are strengthening our partnerships with eco-conscious designers, promoting zero-waste practices, and showcasing ethically made products. We are also developing a dedicated ‘Sustainability Hub’ within the platform to educate consumers, spotlight sustainable collections, and encourage mindful purchasing that aligns with global environmental and social responsibility trends.

What role does cultural storytelling play in Pashione’s strategy?

Cultural storytelling plays a pivotal role in Pashione’s strategy by showcasing the rich

heritage, traditions, and artistry behind African fashion. By transforming each piece into more than a product, it becomes a narrative of creativity, resilience, and identity that make our offerings unique. By sharing the stories of designers and artisans, Pashione fosters a deeper emotional connection with its global audience, amplifies the voices of local talent, and positions African fashion as a symbol of cultural pride, innovation, and authenticity in the global market.

From the perspective of Pashione, what do you think is the future of African fashion?

We believe the future of African fashion lies in its ability to blend tradition with innovation, positioning it as a global leader in cultural creativity, sustainability, and economic empowerment. African fashion will thrive as designers embrace technology like AI and augmented reality, adopt eco-conscious practices, and leverage global platforms to tell their unique stories.

Pashione envisions a future where African fashion becomes a mainstream influence, driving cultural pride, creating economic opportunities, and connecting with global audiences through authentic, innovative designs.

What message would you like to convey to potential investors, partners, and consumers?

Pashione’s message to potential investors, partners, and consumers is one of opportunity, collaboration, and cultural celebration. By supporting Pashione, you are championing a movement that empowers African designers, preserves cultural heritage, and brings sustainable, authentic fashion to global markets. We invite investors to join us in scaling this transformative platform, partners to amplify its impact, and consumers to experience the creativity and craftsmanship of African fashion, becoming part of a community driving innovation, inclusion, and global cultural pride.

How affordable are the services of Pashione, compared to getting the job done by other designers?

The fashions on Pashione’s platform are highly affordable, often providing prices that are more competitive than having clothes custom-made by a tailor.

The story continues online on www.thisdaylive.com

Adeyemi: Digital Skills Will Prepare Nigerian Youths for Global Opportunities

Chief Executive Officer of SARMLife, Ruth Adeyemi, who is a Search Engine Optimisation professional, shares her initiative on digital skills training that is empowering and developing youths in Africa to make them self-reliant and major contributors to the economic growth of Nigeria and Africa. Agnes Ekebuike presents the excerpts:

What is your assessment of the Search Engine Optimisation (SEO) industry in Africa in 2024, and what are your expectations for 2025?

We have SEO professionals in Africa, but they are more hidden. They don’t have a physical brand that potential clients can trust because they don’t produce content that shows a good understanding of SEO.

In other climes like the United States or the United Kingdom, SEO professionals create their profiles, have a website, and build their brands as professional brands.

My goal and future projection is to mobilise more African SEO professionals who are determined and focused on creating unique and engaging brands for themselves. I also want to see more women in the SEO space.

Today, the digital learning space is awash with digital training products. Tell us about SARMLife Digital Skills Training, or is it just another solution out there?

The SARMLife Digital Skills Training (SDST) is not just another programme. It is an annual digital skills initiative that started four years ago, and its goal is to transform passionate learners into digital economy leaders. The idea to start this training was conceived after my National Youth Service Corps (NYSC) and after I participated in the Google Digital Skills for Africa programme. The level of digital skills learned in the programme inspired me to reproduce such training for young people in Africa. Through this training, they can be empowered and trained to learn digital skills that boost their employability prospects. They can then contribute to their financial economy, that of their family members and the national financial economy in the long run.

How affordable are the digital training services that you offer?

Excellence has always been at the centre of everything I do. Since the training began about

four years ago, the non-profit programme initiative has never been about money. It is a give-back programme that aims to transform the digital economy in Africa by creating a new generation of tech-savvy professionals with in-demand digital skills. The training is affordable, especially considering the number of expert coaches involved. The idea is to give students the best education in digital skills. I want them to learn from top professionals in different skills without financial constraints.

The SARMLife digital skills training continues this year in March 2025 and participants will pay a registration fee of N15,000. This amount is small compared to the level of training they will receive during the programme.

I know that learning digital skills in this new age costs a lot of money, but with our digital skills training, participants would be learning seven to eight in-demand digital skills for just N15,000.

We could have made the training free. However, one thing I have learned from my years of coaching is that when people get an opportunity for free, they don’t take it seriously. The whole point of asking participants to make a commitment fee is so that we can compensate the coaches for their time and efforts and likewise, compensate our best-graduating students.

How can the Nigerian government and other stakeholders leverage digital skills training innovation to groom the next generation of leaders?

I am aware that some state governments in Nigeria are already investing in skill acquisition for their citizens. However, such skill acquisition programmes usually centre on physical skills like hair, shoe, and bag making. These are physical skills, but you are aware that the world is going digital; we are a more tech-savvy generation. Thus, state and national governments must move from physical to digital skills.

One of our goals at SARMLife is to work with state and federal governments in a capacity where we can share with them the impact and the need to digitally train individuals to contribute to reducing unemployment rates.

Note that a digitally empowered person can in turn, empower many people by expanding job creation in the country.

What have been your greatest challenges

doing this type of training business in Africa, and what are the possible solutions?

The greatest challenge we faced when we started this training, was that people thought we were scammers. They wondered how we could teach several data skills for such a small amount of money.

Modern digital training is costly, so many wonder how we train people in seven to eight digital skills for as little as between N10,000 and N15,000. It makes no sense, especially for people who know the value of such training.

But with a detailed explanation of our WHY over the years, we have built trust among the initial doubters and won them over by ensuring we deliver quality digital skills training as promised.

How are you responding to the issue of emerging competition in digital skill innovations on the continent?

Most digital skills institutes charge a lot of money for people to learn digital skills because their goal is to make money from training people. Our training is different because our goal is to give back to our communities in Nigeria, Ghana, and other African countries. I have never really felt the impact of direct competition because we are in our lane making change happen and impacting our continent. Last year, we contacted other digital marketing companies to engage them in a collaborative conversation because I believe in the power of collaboration more than competition.

Where do you see this training in the next five years?

In the next five years, we plan to move the training from virtual to physical or adopt a hybrid model to expand to more African countries, particularly non-English-speaking ones. We plan to accommodate more languages by including African countries that speak French and other languages because we want to make a bigger impact. We will expand our languages and reach and then see how we can organise the training twice a year.

Fasere

Adeyemi

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 21 January-2025, unless otherwise stated.

Abia Moves to Commence Oil and Gas Production, Sets Up SPV with PETAN

Emmanuel Ugwu-Nwogo in Umuahia

Abia State has decided to go full blast into the upstream petroleum sector in order to enhance its capacity as an oil and gas producing state and further grow its economy.

Oil and gas production in Abia’s Ukwa West Local Government, which was hitherto undertaken by the SPDC has been taken over by the Nigeria Petroleum Development Company (NPDC), a subsidiary of NNPCL, which operates the OML 11 at Owaza.

But the Abia Commissioner for Information, Prince Okey Kanu told journalists Tuesday, after a meeting of the State Executive Council, that the state intends to activate its uncapped oil wells.

The uncapped oils, estimated at 100 in number strand both Ukwa West and Ukwa East Local Governments, though production activities have been concentrated only at Owaza, Ukwa West.

To activate the capped oil wells, Kanu said that government has set up a special purpose vehicle(SPV) through which it would go into oil production thereby enhansing Abia’s status as an oil producing state.

He said that the SPV was set in partnership with the Petroleum Technology Association of Nigeria (PETAN) with Abia controlling 40 percent equity stake, PETAN 25 percent while 35 percent would be taken by other private investors.

“And when fully operational this would enable the state government to produce both gas and oil which of course would support the Abia Industrial and Innovation Park(AIIP) project,” Kanu said.

Kanu also stated that the Modular Refinery Project being constructed at the AIIP was very much on course, adding that “the company behind the project, HSI Engineering is committed to birthing (the modular refinery) before the end of this year.”

According to the Abia government spokesman, HSI Engineering has made significant process in keeping to the project completion timeline.

“They have recorded some very impressive milestones that speaks to their intention to commence full refining business before the end of this year,” Kanu stated.

The Commissioner for Petroleum and Mineral Resources, Prof. Joel Ogbonna said that Abia was now ready for “real business: in the oil and gas sector by taking advantage of its rich oil resource to develop the state’s economy.

He pointed out that government has commenced compensation for the 1,933 hectares of land it acquired in Owaza, Ukwa West for the Abia State Industrial Innovation Park.

According to him, it was based on Governor Otti’s “usual way of doing things (that) we needed to make sure we pay the compensation which may have delayed whatever we wanted to do”

NIA Commends IGP in Enforcement of Third Party Motor Insurance

Ebere Nwoji

The Nigerian Insurers Association (NIA), has commended the Inspector General of Police (IGP) and the Nigeria Police Force for the recent announcement on a nationwide enforcement of the Third-Party Motor Insurance Policy, effective February 1, saying it would stand as game changer in compulsory motor insurance sales in the country.

The association said the initiative aligned with the

Heirs

provisions of Section 68 of the Insurance Act 2003 and a significant step towards strengthening compliance, ensuring road safety, and protecting motorists and third parties on Nigerian roads.

NIA Chairman, Mr. Kunle Ahmed, reacting to the announcement said it was a welcome development and a timely and commendable action by the Nigeria Police Force. He further emphasised the importance of enforcing the policy to improve risk management, industry innova-

tion and fostering economic growth.

According to him, the enforcement of third-party motor insurance is not only a compliance issue; but a vital strategy for ensuring financial protection for victims of road accidents and the car owners.

He said the third-party insurance policy also provided compensation for property damage and medical care for injured third parties, which further contributed to building confidence in the insurance sector.

Insurance Empowers 500 School Children, Communities

Heirs Insurance Group, Nigeria’s fastest-growing insurance Group, has rolled out a project to empower underserved communities with the training and benefits inherent in upcycling, as part of its sustainability goals.

Tagged “The Good project,” Heirs Insurance Group sensitised communities on the benefits of converting waste materials to reusable items, thereby reducing the consequences of climate action and uplifting the financial status of people. In addition, the insurance group provided school supplies and a cash donation to over 500 schoolchildren of Makoko community, Lagos.

The Good Plastic Project reaffirms the Group’s commitment to environmental sustainability and

Linkage

community development. The project was executed in partnership with Slum2School Africa and Eco Barter, which both share its vision for sustainability and social impact.

Speaking about the project, Niyi Onifade, Sector Head, Heirs Insurance Group, said, “Through this project, we are demonstrating the potential of sustainability, emphasising its role in improving lives while preserving the environment. We are not only reducing waste and contributing to the upliftment and well-being of communities, we are also creating awareness for the financial benefits that upcycling offers”.

Onifade further reiterated that the monetary donation and school supplies were intended to provide hope and put smiles on the faces of

children and their parents, especially at the start of a new year when families need all the support they can get. The Good Project forms part of Heirs Insurance Group’s flagship sustainability initiatives, as it continues to lead by integrating sustainability into its core operations, demonstrating the power of corporate responsibility to drive meaningful change.

Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.

Assurance CFO Emerges Chairman ICAN-NIA Chapter

The Chief Financial Officer of Linkage Assurance, Dr. Emmanuel Otitolaiye, has been appointed the Pioneer Chairman of the Institute of Chartered Accountants of Nigeria (ICAN) -Nigerian Insurers Association’s (NIA) ‘s Chapter.

ICAN-NIA Chapter was recently inaugurated by the 60th President of ICAN, Davidson Alaribe in company of top accounting and insurance professionals in Nigeria at a ceremony held at Nigeria’s Insurers House in Victoria

Island, Lagos. Otitolaiye in his acceptance speech at the event said “It is with great delight, sense of responsibility and immense gratitude to the Almighty God that I stand before this distinguished audience, today, to accept my election and formal investiture as the Pioneer Chairman of the ICAN-NIA Chapter.”

On behalf of his executive committee, he pledged committee to upholding the highest standards of professionalism, promoting excellence in the field of accounting, and advancing the interests of members.

“As we navigate the everevolving landscape of business and finance, we must embrace innovation and stay at the forefront of emerging trends and technologies. The challenges we face require us to adapt, evolve, and continuously expand our knowledge and skills,” he stated.

Otitolaiye, pledging further said, “As chairman, I am dedicated to fostering a culture of lifelong learning and professional development, ensuring that our members have access to the resources and support they need to thrive in a rapidly changing world.”

Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic

Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Ebere Nwoji

Agama: Collective Investment Schemes Increased to Over N3trn in 2024

KayodeTokede

The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, yesterday disclosed that Collective Investment Schemes (CIS) increased to over N3 trillion in 2024.

Agama who disclosed this during an interaction with reporters in Abuja, explained that collective investment schemes are a part of the market system

that allows people to diversify their risk via different angles besides going straight to the companies to invest.

He said, “In the CIS, you get a bucket of shares and ask people to invest. Therefore, if you are investing through a collective investment scheme, you probably will be investing in 10 companies via 1 route as different from going to invest directly in any company.

“It reduces your risk, it diversifies your potential and of

course takes care of the ups and downs in the market whenever it does exist and it is for us a very good area for Nigerians to invest in because when you do not understand it, do not go into it. With a collective investment scheme, you do not need to understand it because someone is there to understand it for you and invest on your behalf, understanding the vagaries of the market, its dynamics and how it runs”.

The SEC DG disclosed that

beyond the CIS, the capital market aided in the development of the economy through the recapitalization exercise of banks by the Central Bank of Nigeria.

According to him, “As you are all aware, the banks are a very important element in our development and economic sphere. Last year 2024, the Central bank came up with a regulation to increase capital for all banks. Many people thought it was too daunting

a task for the Capital market. However, where else will the banks who already loan money short term get money from, other than the Capital Market?

“But of course, the Capital Market came to the rescue. For all of the issuance that happened in the market last year, we were able to raise more than N2 trillion, precisely about N2.2 trillion for the banks, which means the Capital Market is actually the element that helps to galvanize growth

and development”. Agama also disclosed that apart from the banks, other institutions also came to raise capital from the Capital Market.

Agama stated that within the period under review, there were other developments in the market including many government bond issuances geared toward infrastructural development, adding that there is no economy that can actually grow without infrastructure.

Gamin G Week

Edited by nseobonG okon-ekonG |

What to Expect from Nigeria’s Video Games Industry in 2025

The

Nigerian

video games sector is on the verge of unprecedented growth in 2025, writes Iyke Bede

With a combination of favourable demographics, increasing access to technology, and a growing appetite for gaming, the industry is moving beyond niche status and becoming a significant player in Nigeria’s digital economy. Here’s a breakdown of what to expect in the year ahead. Mobile gaming will remain the backbone of Nigeria’s gaming industry. As smartphone penetration continues to rise, particularly with more affordable devices flooding the market, the accessibility of mobile games will drive wider adoption. Projections indicate that mobile gaming revenue across Africa will experience a significant boost in 2025, with Nigeria leading the charge. Developers are increasingly focusing on creating lightweight, data-efficient games tailored to local users. With mobile data plans becoming slightly more affordable, casual gaming is expected to expand even into rural areas, solidifying mobile gaming as the cornerstone of the industry.

A breakthrough year for eSports eSports is gaining significant traction in Nigeria, and 2025 could be the year it enters mainstream recognition. Tournaments are becoming larger and better organised, with increased prize pools and broader participation. The rise of streaming platforms, access to local servers, and improved internet connectivity have also opened doors for

Nigerian gamers to showcase their skills to a global audience. As more players, sponsors, and viewers engage with eSports, its impact on youth culture and career opportunities will deepen. The momentum seen in previous years will likely culminate in larger events and a more formalised

Local

game

development gains ground

The narrative around local game development is shifting as Nigerian developers begin to focus more on creating content that

How Illegal Gambling, Lack of Standardized Regulation in Africa Stunts Industry Growth

Bashir Are, CEO of the Lagos State Lotteries and Gaming Authority (LSLGA), has said that the African gaming sector is at a critical juncture with the rise of illegal gambling and a lack of standardized regulation.

He made this observation at the ongoing ICE gaming industry conference in Barcelona. Are sounded a warning that recalled Africa may become a haven for unregulated and exploitative gaming practices.

“Twenty, thirty years ago, Africa was a dumping ground for toxic waste from all over the world,” Are said during a panel discussion titled ‘Navigating the Illegal Market: Cross-Jurisdictional Challenges in Identification & Enforcement’. “I think we are experiencing that now in the gaming sector too.”

The session, which also featured high-profile speakers such as Gilbert Remulla, director of the Philippine Amusement and Gaming Corporation (PAGCOR); Isabelle Falque-Pierrotin, chair of the French Gambling Authority (ANJ); and Lisa Osofsky, managing director at AlixPartners and former director of the UK Serious Fraud Office (SFO), delved into the challenges of combating illegal gambling in a globalised market.

Are stated that the fight against illegal gambling cannot be won without unified efforts from regulators across Africa. He added that regulators have to come together and help each other in terms of standardisation, enforcement, blacklists, and responsible gambling.

The Lagos regulator underscored cross-border collaboration’s importance in creating standardised laws and reciprocal agreements.

“For example, Lagos State has a bilateral agreement with the country of Botswana. So if you are illegal in Lagos State, and you have a

licence in Botswana, we can both enforce on that, and we’re doing that with so many jurisdictions right now. If there’s no collaboration, there’s no way you can fight illegal gambling,” Are added, calling for partnerships with law enforcement and justice departments to address the issue comprehensively.

PAGCOR director Remulla shared the Philippines’ experience in tackling illegal gambling, noting

that illegal operators once accounted for 90 per cent of the country’s gaming market. Through a mix of reduced taxes for legal operators, stronger law enforcement collaboration, and outreach to illegal businesses, the Philippines has since reduced illegal operations to less than 50 per cent.

Lowering taxes encouraged some illegal operators to come into the legal market, Remulla explained. According to him, those operators realised it wasn’t worth the risk of being blocked or stopped and reached out to get licensed.

However, he noted that challenges remain, particularly with high-net-worth individuals and crime syndicates who are attracted to the illegal market’s lack of Know Your Customer (KYC) protocols and its use of cryptocurrency to launder money.

Are also agreed that taxes are an important tool in combatting the black market.

“Our laws now state that even if you operate offshore, if you have players in Lagos, they are considered state customers. If you don’t pay taxes on those customers, it’s a criminal offence,” he said.

The regulator also outlined Lagos State’s plans to introduce B2B licences in order to address an existing gap in supplier accountability.

“We discovered that without B2B licences, suppliers have no obligation to ensure compliance or responsible practices,” he said, pointing out that regulating operators and suppliers is key to cleaning up the market.

resonates with local audiences. From exploring folklore-inspired games to addressing everyday life in urban or rural Nigeria, the industry is expected to produce games that not only entertain but also represent cultural identity. Although challenges like limited funding and access to advanced development tools persist, the ingenuity of Nigerian developers will continue to shape the landscape. International collaborations may also play a role in putting local developers on the global map, showcasing their talent and unique storytelling abilities.

Investments in infrastructure and partnerships

With the government and private sector increasingly recognising the creative economy as a growth area, 2025 may witness more investments in the gaming sector. Improved digital infrastructure, particularly in broadband internet, could significantly enhance the gaming experience for players while creating opportunities for streaming platforms and multiplayer games. Moreover, strategic partnerships between local and international entities may lead to the establishment of game development hubs and training programmes, fostering talent development and knowledge sharing.

Challenges still loom

While the industry holds immense potential, certain barriers must be addressed for sustainable growth. Limited financial support for local developers, high costs of internet services, and insufficient power infrastructure continue to restrict the sector’s expansion. Additionally, public perception of gaming as a frivolous pastime rather than a viable economic contributor remains a hurdle. Addressing these challenges will require collaborative efforts from stakeholders, including policymakers, private investors, and developers, to create an enabling environment for the gaming industry.

The road ahead

As Nigeria steps into 2025, the video games industry is on a promising trajectory. Mobile gaming will expand access, eSports will amplify opportunities, and local developers will redefine the country’s digital storytelling. This year could be the one where Nigeria cements its status as a key player in Africa’s gaming ecosystem. By capitalising on emerging opportunities and addressing persistent challenges, the industry is poised to level up in ways that were previously unimaginable.

competitive gaming scene in 2025.

Bashir Are

MAN 2025 PRESIDENTIAL MEDIA LUNCHEON AND AWARD...

L-R: Director General, Manufacturers Association of Nigeria (MAN), Dr.Segun Ajayi; Vice President, Lagos Office (MAN), Prince Oba Okojie; Public Relations Manager (MAN), Mrs. Omotayo

President, Otunba Francis Meshioye; and the Assistant Director, Corporate Affairs and Communications, Dr. Segun Alabi at the 2025 MAN Presidential

Award held in Lagos…yesterday

United Nations Seeks $910 Million to Tackle Humanitarian Crisis in Nigeria's North East

The United Nations (UN) is set to appeal for $910 million to help tackle a humanitarian crisis in Nigeria's north-east, which has been in the

grip of an Islamist insurgency since 2009 and was hit by a devastating flooding last year.

Citing UN documents yesterday, Reuters reported that 7.8 million people need help in the three

northeastern states of Adamawa, Borno and Yobe, adding that the UN aims to help 3.6 million of them.

At $910 million, it is the most expensive humanitarian crisis in West and Central Africa, ahead of

Chad, Mali, Burkina

documents

Nigeria is also grappling with a cost of living crisis that has seen inflation accelerate to its highest level in nearly three decades, propelled

UI Students Protest 82-day Power Outage at UCH

Kemi Olaitan in Ibadan

Socio-economic activities were yesterday paralysed in some parts of Ibadan, the Oyo State capital, following a protest by students of the University of Ibadan over disconnection of electricity supply to the University College Hospital (UCH), Ibadan.

The aggrieved students who took over some major roads in the city, caused traffic gridlock, leading to chaos and panic among motorists and other road users.

The black out at the teaching hospital which has lasted for 82 days came on the heels of disagreement between the management of Ibadan

Electricity Distribution Company (IBEDC) and the UCH over huge debts.

In the peaceful protest to express their grievances, the students in large numbers marched through the streets, chanting solidarity songs to draw the attention of the government to their plight.

The protest started from the UCH main gate through Total Garden to State Secretariat, Agodi, Ibadan with the students carrying placards with various inscriptions such as “Restore Our Electricity, We are suffering”.

The President, Students’ Union Government (SUG), University of Ibadan, Bolaji Aweda, while speak-

ing with journalists, said students of the University of Ibadan at the College of Medicine, UCH, are mostly residents at the Alexander Brown Hall and Ayodele Falase Postgraduate Hall, stressing they have passed through hardship due to lack of water and electricity, which had affected their health and studies.

He said: "We are protesting against what is happening. And, of course, our students are affected.

“For 82 days, there has been no light at UCH, and this is due to the inability of UCH to pay its electricity bill to IBEDC.

“IBEDC has demanded that UCH settle its debt before they will restore power."

While addressing protesters at the state secretariat, Ibadan, shortly after submitting their demands through a letter to Governor Seyi Makinde, the Executive Assistant to the Governor on Security, Mr. Sunday Odukoya, commended the students for their civility and comportment in expressing their grievances.

He promised to relay their message to the governor for further step on their demands.

Security men from the Nigeria Police, Nigerian Army and Nigeria Security and Civil Defense Corps, NSCDC, were on ground to maintain law and order during the protest.

Bianca Ojukwu’s Sons Withdraw Application to Join Ongoing Property Dispute Case

Wale Igbintade

In a new development in the ongoing property dispute, Afamefuna and Nwachukwu, sons of Bianca Odumegwu-Ojukwu, widow of the late Biafran leader, Chief Chukwuemeka OdumegwuOjukwu, have withdrawn their earlier application before the Lagos High Court.

The application had sought to join as parties in a 2011 suit filed by Ogbonna Ojukwu and others against Ojukwu Transport Limited (OTL) and others.

The case, marked LD/794/2011, involved a judgment by Justice Adedayo Oyebanji, granting possession of OTL properties in Lagos, including No. 29 Oyikan Abayomi Drive, Ikoyi, to OTL. Chief Chukwuemeka Odumegwu-Ojukwu was a party to the suit until his death in 2011.

Following the judgment, OTL executed a warrant of possession on all its Lagos properties, with the certificate of completion of execution obtained in July 2022. Last year, Afamefuna and Nwachukwu applied to the court to be joined as “Interested Parties” and requested exemption from the executed warrant in the case.

However, in a surprising turn of events, the duo has filed a ‘Notice of Withdrawal’ of their motion to be included in the suit.

The notice, dated December 16, 2024, formally seeks to withdraw their motion for joinder against the claimants and respondents.

During the last hearing on their application for joinder on April 22, 2024, the court saw the attendance of OTL Director, Dr. P Ike Ojukwu, their agent Mr. Massey Udegbe, and lawyer Chief Ifeanyi Okumah.

The case has been adjourned

until March 10, 2025.

Earlier, in 2022, Justice A.M. Lawal had issued a restraining order preventing interference with Afamefuna and Nwachukwu’s possession of the properties until the harmonization of Ojukwu’s assets by OTL.

In response to the ongoing proceedings, Afamefuna and Nwachukwu had filed a ‘Notice of Disobedience of Court Order’ against OTL, the Ojukwu family, and other tenants, claiming that they were unaware of the suit before Justice Oyebanji and had not been included as interested parties.

They argued that excluding them from the decision-making process would lead to a miscarriage of justice, as the case directly affects their interests.

Meanwhile, OTL, following the judgment by Justice Lawal in 2022,

has reorganised the management of its assets and reaffirmed Massey Udegbe & Co as its estate agent, publishing the decision in two national newspapers.

OTL has also highlighted several ongoing issues with tenants, including unpaid rents for 12 years (N144 million) by Uche Obilor/ West African Offshore Limited at 30 Gerard Road, Ikoyi, as well as overdue payments from Foursquare Gospel Church at 32a Commercial Avenue, Yaba, since 2017.

Additionally, 4 Macpherson Road, Ikoyi, has been under police lock since 2015, while 29 Oyinkan Abayomi Road, Ikoyi, has remained unoccupied for over 20 years.

Only 13 Ojora Road, Ikoyi, is currently in good condition with a positive tenant-landlord relationship.

by skyrocketing food prices.

The UN had previously said Nigeria's northeast risks becoming a forgotten crisis as the humanitarian focus shifted to crises elsewhere such as Ukraine, Gaza and Sudan.

A joint report by the government and UN in November said Nigeria faces one of its worst hunger crises with more than 30 million people

expected to be food-insecure this year.

President Bola Tinubu's economic reforms, including scrapping a fuel subsidy and foreign exchange controls, have been blamed for worsening Nigeria's economic troubles. He says the reforms will put the economy on a stronger path to growth.

Afe Babalola Inaugurates ABUAD Fertility Centre, Offers New Hope to Nigeria’s Childless Couples

Gbenga Sodeinde in Ado Ekiti

The founder of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola, has inaugurated the varsity’s fertility centre to tackle global infertility challenges among couples in Nigeria

The fertility centre, located within the university’s 8-year-old ABUAD Multisystem Hospital, aims to address the pressing need for accessible, high-quality reproductive healthcare in Nigeria and sub-Saharan Africa.

The centre offers a range of services, including In-Vitro Fertilization (IVF), Intrauterine Insemination (IUI), Intracytoplasmic Sperm Injection (ICSI), Egg and Sperm Freezing (Cryopreservation), Ovulation Induction and Monitoring.

Other services include: Donor Programs for eggs, sperm, and embryos, Surrogacy, Male Fertility Treatments, Hormonal and Genetic Testing, as well as Counseling and Emotional Support for patients.

Commissioning the center on Wednesday, at ABUAD, in Ado Ekiti, Afe Babalola emphasized the multisystem hospital was established not for profit, but to provide Nigerians with access to quality healthcare services.

Infertility, according to him is a global phenomenon that affects the mental health of couples, hence his decision to set up the facility and give hope to the hopeless.

His words: “ABUAD was established to provide quality education and provide quality health care.

“Visitors to the hospital are impressed with the quality equipment without which the doctors would be left with nothing but to guess

on how to treat patients.

“Today we are commissioning the latest in the market of modern equipment to combat childlessness. My research shows that it cost as much as five thousand dollars in the United States of America to make use of In vitro fertilization, an equivalent of N3,250,000.

“I know that only few Nigerians can afford that huge cost. However, ABUAD Multisystem is not built for the rich people alone.

“I take this opportunity to inform the public that both ABUAD University and ABUAD Multisystem Hospital are not built for profit.

“The fees charged in the ABUAD University is lower than what most secondary schools charged in Lagos, Ibadan, Ilesa Abuja and so on. I assure you that the health of the people is paramount to us.

“Our priority is not money. It is to ensure that people enjoy quality health care”.

In his remarks, the Chief Medical Director of ABUAD Multisystem Hospital, Dr. Kolawole Ogundipe, assured Nigerians that the Fertility Centre is equipped with state-ofthe-art technology and advanced facilities to ensure precision and high success rates.

Dr. Ogundipe added that the specialists at the centre are highly trained in assisted reproductive techniques and are dedicated to providing compassionate care.

On the affordability of the services, the CMD maintained that the hospital offers fertility treatments at a lower cost, making it accessible to more families, thereby eliminating the financial strain of medical tourism.

Okewunmi;

Ndubuisi Francis in Abuja

Faso, Niger, the

showed.

COURTESY VISIT OF CTU TO WATRA AND NCC...

L-R: Principal Manager, Partnerships, West Africa Telecommunications Regulators Assembly (WATRA) Secretariat, Mr. Rufus Samuel; Assistant Director, Spectrum Administration, Nigerian Communications Commission (NCC) and Co-chair, WATRA Working Group on Infrastructure Development, Dr. Joseph Emeshili; Secretary-General, Caribbean Telecommunications Union (CTU), Mr. Rodney Taylor; Executive Secretary, West Africa Telecommunications Regulators Assembly (WATRA), Mr. Aliyu Yusuf Aboki; and Head of Administration and Finance of WATRA Secretariat, Mr. Sele Pokima during the courtesy visit of CTU to WATRA and NCC in Abuja …. recently

Terrorism: UK Pledges More Support to Armed Forces of Nigeria

As DSS files terrorism charges against Mahdi Shehu Troops kill seven bandit commanders, over 20 others

The United Kingdom, UK, has expressed its unflinching commitment to offer more support to Nigeria in tackling terrorism and other security challenges bedeviling the country.

The UK Minister of State for Defence, Lord Baron Coaker, made this pledge when he paid an official visit to the Chief of Defence Staff, CDS, General Christopher Musa, at the Defence Headquarters (DHQ), in Abuja on Wednesday.

In another related development, the Department of State Services (DSS), filed five counts of terrorism-related charges against self-styled activist, Muhammad Mahdi Shehu, at the Federal High Court sitting in Kaduna.

The move came a day after the secret police filed a motion exparte before the same court for an order to detain Shehu for 60 days.

Meanwhile, troops of Operation Fansan Yamma have successfully killed no fewer than seven bandit commanders loyal to the fleeing notorious bandit leader, Bello Turji.

A top military source Zagazola Makama also revealed that over 20 bandit fighters were also killed during the coordinated military operations targeted at bandit safe havens in Sokoto, Zamfara and other adjoining states in North-west.

The UK defence minister stressed the visit is to further strengthen the already existing defence relations between Nigeria and the UK.

Acknowledging the cordial relationship between Nigeria and the UK, the minister said that Nigeria is the first country he visited outside the UK since assumption of office.

A statement by Acting Director, Defence Information, Brigadier General

Tukur Gusau, said the minister further stated the UK is willing to work with Nigeria to curb security challenges confronting it.

Stressing that Nigeria and the UK cherish democracy as a form of government, the minister noted that both countries will stand together to defend democracy.

The UK minister said Nigeria is not a mere friend but a strategic partner, hence supporting and working together with Nigeria has been the core objectives of UK.

The Chief of Defence Staff, General Christopher Musa, appreciated the UK for its continuous support to the Armed Forces of Nigeria, AFN, through sponsorship of Nigeria’s technical team and special forces.

Represented by the Chief of Defence Policy and Plans, Air Vice Marshall Shayo Olatunde, the CDS also applauded the UK Government for supporting Nigeria’s military in the training of over hundreds of AFN personnel in Civil Military Relations and the provision of counter Improvised Device Mobile equipment.

Musa further requested for more intervention and collaboration in the areas of training and cyber warfare, amongst others.

On the DSS’ terrorism charges against Muhammad Mahdi Shehu, THISDAY gathered that the motion was filed pursuant to Section 66 of the Terrorism (Prevention & Prohibition) Act, 2022.

In granting the order, Justice Rilwan Aikawa held that the DSS should keep Shehu for 60 days to enable their officers conclude investigations.

The charges against Shehu include, "false publication to cause public alarm, contrary to Section 59 (1) of the Criminal Code Act; ii. Dissemination of Terrorism

related false information contrary to Section 26 (2) (a) and (b) of the Terrorism (Prevention and Prohibition) Act, 2022; and iii. Intentional dissemination of false information contrary to Section 24(1) (b) of the Cybercrimes (Prohibition and Prevention, etc.) Act, 2024 (as amended);

Other charges include: False allegation of Treasonable Act contrary to Section 41 of the Criminal Code Act; and Use of social media to support false allegations of National Security Threat, contrary to Section 24(1) (b) of the Cybercrimes (Prohibition, Prevention, etc) Act".

The DSS had recently arrested Shehu shortly after he shared doctored videos, purporting that the Nigerian government had granted France permission to set up a military base in the North.

In the killing of seven bandit commanders, the top military source Zagazola Makama noted the synchronised operation carried out by Special Forces of the Nigerian Army’s 1 Brigade and the Nigerian Navy Special Boat Services, targeted several bandits’ hideouts in Gebe Village, Isa Local Government Area of Sokoto State.

According to intelligence sources, the week-long offensive aimed at dismantling Turji’s operational network targeted hideouts and camps in Shinkafi and Isa LGAs, areas notorious for criminal activities.

The intel sources said: "The operation involved ground troops supported by precision airstrikes by the Air Components and intelligence driven raids.

"Among the seven prominent commanders neutralized were: Abu Dan Shehu, Jabbi Dogo, Dan Kane, Basiru Yellow, Kabiru Gebe, Bello Buba and Dan Inna Kahon Saniya (alias Yafi Bahaushe) "These individuals were pivotal to Turji’s operations, coordinating attacks, managing logistics and facilitating the movement of arms and supplies across the region. Their elimination deals a significant blow to the gang’s leadership and operational capabilities.

"The operation was marked by sustained engagements, including ambushes, search-and destroy missions, and strategic airstrikes. It also resulted in the recovery of weapons, ammunition, and motorcycles used by the bandits to terrorize communities".

Confirming the killing of the bandit

commanders and their fighters, the Defence Headquarters (DHQ), yesterday said troops of operation Fansan Yamma killed the second-in-command of notorious terrorist leader Bello Turji's namely, Aminu Kanawa.

A statement by Director Defence Media Operations, Major General Edward Buba, stressed the troops also inflicted terminal injuries on some of Bello Turji's close allies namely; Dosso, Bello Turji's younger brother and Danbokolo, one of Turji's closest allies.

Buba further said: "Additionally, troops neutralised several of Bello Turji's key commanders namely: Abu Dan Shehu, Jabbi Dogo, Dan Kane, Basiru Yellow, Kabiru Gebe, Bello Buba and Dan Inna Kahon-Saniya-Yafi-Bahaushe, among others.

Disowns DLMS, says it doesn't exist in varsity curriculum

Kuni Tyessi in Abuja

The National Universities Commission (NUC) has announced the elevation of some medicalrelated programmes in Nigerian universities, and moving them from Bachelor’s degree status to doctoral level.

Among the medical programmes receiving the upgrade are the Doctor of Pharmacy (Pharm D), Doctor of Physiotherapy (DPT), and Doctor of Optometry (O.D).

The programmes will henceforth require six years of study against the previous five, thereby allowing for the inclusion of additional courses and clinical training, and the extended duration will ensure that students receive a more thorough and hands-on education.

This move, according to the commission, is aimed at enhancing the quality of medical education in the country to stand at par with global standards.

In a statement signed and

released by the Acting Director of Public Affairs in the commission, Franca Elochi Chukwuonwo, the upgrade is in response to the need for a more comprehensive education in medical fields, incorporating increased clinical sessions and foundational course coverage.

The NUC’s statement also clarified that the Doctor of Medical Laboratory Science (DMLS) programme has not been approved in any Nigerian university and will not be part of the upgrade.

“The upgrade seeks to incorporate more practical sessions, improve clinical skills, and ensure all specialty areas are comprehensively addressed,” the statement said.

"This change is intended to enhance the employability of graduates and improve their prospects for further studies abroad.

"The upgraded programmes will now ensure a high standard of education and international recognition of Nigerian qualifications.

FUNAAB Begins 32nd Convocation Activities as 120 Bag First Class Court Vacates Contempt Order against INEC Chairman Yakubu,

James

The Federal University of Agriculture (FUNAB), Abeokuta, has begun activities for its 32nd Convocation Ceremony, during which 3,567 students would be graduating with different classes of degrees.

Of the number, 120 undergraduates will be graduating with First Class, I626 finishing with Second Class Upper Division while 1624 will be graduating with Second Class Lower Division. In addition to this,164 students finished with Third Class while another 33 are graduates of Veterinary Medicine.

The Vice-Chancellor of the university, Prof. Babatunde Kehinde, disclosed the

figures yesterday at a media briefing on convocation ceremony, holding on Saturday.

The vice chancellor also disclosed that the institution, would also award 30 Postgraduate Diploma, 274 Masters Degrees graduates and 136 PhDs.

Kehinde explained that during the session under review, the university added eight new academic programmes including Library and Information Science, Industrial Chemistry, Cyber Security, Software Engineering among others. According to the vice chancellor, the university now runs 38 programmes, which are fully accredited, by the National University Commission with 54 departments.

He added that the NUC has approved six research proposals of over N171m for its researchers while many of its scholars equally won international grants amounting to several thousands of dollars, pounds and Euros.

Kehinde hailed the Tertiary Education Trust Fund (TETFUND), for rising to the challenge of funding the universities saying that 19 projects cutting across academics and research are currently being undertaken by the fund in the university.

On the challenge of food shortages facing the country, Kehinde suggested the way out lies in everybody, saying the option of Public-Private- Partnerships should be adopted to drive increase in food production.

Alex Enumah in Abuja

Justice Mohammed Madugu of a HIgh Court of the Federal Capital Territory (FCT) in Bwari, on Wednesday, vacated his earlier order committing the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu and the immediate former Chairman of the All Progressives Grand Alliance (APGA), Victor Ike-Oye for contempt.

Justice Madugu vacated the order following request by the applicants, Otunba Camaru Ogidan and Alhaji Rabiu Mustapha.

Recall that the court had on November 9, 2023, issued an order

Former APGA Chairman Ike-Oye

convicting Yakubu and Oye for contempt of court after finding that they failed to comply with his earlier order of May 10, 2023 directing them to recognise Chief Edozie Njoku as the National Chairman of APGA.

However, the INEC boss had on July 11, 2024, through his lawyer, Ahmed Mohammed, informed the court that he had complied with the order by recognizing Njoku as APGA's National Chairman.

But Oye on the other hand refused to comply with the order by going on an appeal and also sought a stay of the lower court's order, thereby stalling his planned sentencing, which the court later

rescheduled for January 22, 2025. Recall also that before the rescheduled date for sentencing, the apex court on November 27, 2024, gave a judgement, recognizing one Sly Ezeokenwa as the National Chairman of APGA.

When the matter came up for hearing on Wednesday, counsel to the applicants, Michael Ajara, drew the court's attention to the November 27, 2024, judgement of the Supreme Court on the issue, adding that his clients have decided to discontinue the case.

In a short ruling, the court granted the application, discharged the earlier committal order and struck out the case.

Linus Aleke in Abuja

Sowole in Abeokuta

INEC MEETS PARTY LEADERS...

during a meeting between chairman INEC and political party

Sani, El-Rufai’s Rift Festers as Gov Returns

Traditional Ruler Deposed by Predecessor

Says his administration stands for rule of law, due process, justice

The rift between Kaduna State Governor, Senator Uba Sani, and his predecessor, Mallam Nasir El-Rufai, appeared to deepen yesterday as Sani reinstated a traditional ruler, Jonathan Zamunah, who was deposed by El-Rufai. Zamunah, Chief of Piriga Chiefdom, in Lere Local Government Area, was deposed by El-Rufai on May 22, 2023 alongside Aliyu Yammah, the traditional ruler of Arak Chiefdom. But Zamunah was reinstated by Sani in compliance with a June 14, 2024 judgement of the Kaduna Industrial Court, which declared the deposition "null and void”.

The court ordered the reinstatement of Zamunah as Chief of Piriga Chiefdom with all his salaries, allowances, entitlements and benefits of office.

Speaking yesterday while handing over the letter of reinstatement to Zamunah at Sir Kashim Ibrahim House (Government House), Kaduna, Sani

said his administration believed in the rule of law, due process, and justice.

The governor congratulated Zamunah on his reinstatement, and urged him to treat all his subjects equally, without ethno-religious discrimination.

He said his administration accorded equal opportunities to all citizens, and charged Zamunah to do same, adding that it is the will of God to create people differently and place them in the same geographic locations.

better leaders.

"You now have a unique opportunity to serve your people with dedication, courage, and compassion.”

The governor told the restored traditional ruler, “I am sure you have had time to reflect on the past lessons from the past help in strengthening us and making us

FRC: IAS 29 Not Necessary in 2024 Financial Statements Preparation

Declares Nigeria not yet hyperinflation economy

Dike Onwuamaeze

The Financial Reporting Council of Nigeria (FRC) on Wednesday pointed out that Nigeria was not yet a hyperinflation economy.

Owing to this, the Council, in a press statement signed by its Executive Secretary/Chief Executive Officer, Dr. Rabiu Olowo, noted that the International Accounting Standard (IAS) 29 which borders on Financial Reporting in Hyperinflationary Economies should not be applied in the preparation of financial statements for the 2024 financial year.

According to Olowo, “Determining hyperinflation requires significant judgment and consideration of all relevant indicators. After thorough analysis of the above indicators, the FRC concludes that Nigeria is not yet a hyperinflationary economy. Therefore, IAS 29 should not be applied in the preparation of financial statements for the 2024 financial year.

The FRC will continue to monitor economic developments and update this position when necessary.”

He explained: “The FRC is a federal government regulatory agency established by the Financial Reporting Council of Nigeria Act 2011 (as amended) that is charged with, amongst other things, issuing and enforcing financial reporting (accounting, auditing, valuation, actuarial) and corporate governance standards and guidelines across the public and private sectors in Nigeria.

“The FRC has extensively engaged various stakeholders such as the Professional Accounting Bodies in Nigeria, external auditors, government regulatory agencies, and

significant public interest entities, where an objective evaluation of the five indicators of the economic environment of a country as stipulated in IAS 29: Financial Reporting in Hyperinflationary Economies were undertaken especially to determine the relevance and applicability of the standard in Nigeria in light of the inflationary trend in the country.” IAS 29 outlines the accounting requirements for entities in hyperinflationary economies. It does not specify when hyperinflation arises or is deemed to arise but rather outlines several indicators of hyperinflation that includes a preference for non-monetary assets, pricing in stable foreign currencies, credit sales adjusting for inflation, and a cumulative inflation rate approaching or exceeding 100% over a three year period.

The FRC's analysis of these indicators for Nigeria was that, “the general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency are immediately invested to maintain purchasing power:

“Data shows that Nigerians continue to transact in local currency and invest in Naira-denominated assets, indicating confidence in the local currency. There is no indication that the general population prefers to keep its wealth in non-monetary assets or in any other relatively stable foreign currency. Data from the Central Bank of Nigeria (CBN) and the financial statements of Nigerian financial institutions continue to show that investment in monetary assets such as treasury bills, mutual funds, fixed and current deposits and other

short-term monetary assets have been increasing over the last 3 years.

“Data from the National Pension Commission shows that the Nigerian pension assets which are predominantly held in monetary assets have also continued to increase. The pension assets totaled N22.25 trillion as at November 2024 compared to N18.35 trillion as at December 2023. The currency in which most of these non-monetary assets is denominated is in the Naira. There is no rejection of the local currency as a medium of exchange in Nigeria as the Naira still serves as its base currency for all transactions.

“The general population regards monetary amounts not in terms of the local currency but in terms of relatively stable foreign currency. Prices may be quoted in that currency: Monetary amounts in Nigeria are in Naira being the local currency. Salaries and wages for labour are paid in Naira. Goods and services are quoted in Naira as well. This is evident from a review of the major e-commerce platforms and shopping malls in Nigeria such as Jumia, Slot, Konga, Jiji etc. The prices of general goods and services are determined and charged in Naira. Monetary amounts are predominantly regarded in terms of the Nigerian Naira by the general population and not in terms of any other foreign currency suggesting that this indicator is not met.

“Purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short: There is no evidence that the price of credit transactions is adjusted for inflation as sales and

purchases on credit do not take place at prices that compensate for the expected loss of purchasing power during the credit period.

“Following from our review of the financial statements and other relevant documents of reporting entities in Nigeria, our understanding from business entities in Nigeria is that they offer credit terms to their customers based on the terms of the contract, the risk appetite of the business and the risk profile of the customer.

“Based on our consultations, we know that expectations on inflation or speculations do not drive the pricing of goods and services. Since there is no publicly available data about details of contracts with customers from businesses in Nigeria, the evidence available to us at the micro level does not indicate that sales and purchases on credit take place at prices that are driven by inflation to compensate for the expected loss of purchasing power during the credit period.

“Historical data show that wages and prices are not consistently linked to a price index, and interest rates are adjusted primarily to control inflation. In Nigeria, historical evidence shows that minimum wage when negotiated, remain fixed for average of 4 to 5 years and are not updated on annual basis. For example, in 2019, minimum wage increased from N18,000 to N30,000 after 8 years since the last revision. The minimum wage remained N30,000 until July 2024 when it was increased to N70,000 after another five years.”

According to the statement, on interest rates, the Central Bank of Nigeria had increased the monetary

policy rate over time in a bid to curtail inflation.

The interest rate in Nigeria is currently at 27.50% but prime lending rate is currently 18.39%.

He maintained that the reinstatement was a solemn moment for his administration and the people of the state.

According to Sani, "It affords us the opportunity to reflect deeply on our past actions and how they have impacted positively or negatively on our state.

“Our actions fostered peace and understanding or deepened divisions in our state? Going forward, what must we as individuals, leaders, or groups do to sustain the prevailing peace in Kaduna State?

“Our administration stands for the rule of law, due process, and justice. That is why we did not waste time in complying with the judgement of the Kaduna State Industrial Court on the reinstatement of the Chief of Piriga Chiefdom.” Sani said his administration had placed Kaduna State on the path of sustainable growth and development.

He said, “Despite huge challenges, we are extending socioeconomic infrastructure to the 23 local governments of Kaduna State. “We are investing heavily in education, health, and agriculture. Through our social intervention programmes, we have been bringing succour to the poor, vulnerable, and underserved in Kaduna State."

Alia: Those Undermining Me Must Desist

George Okoh in Makurdi

Benue State Governor, Hyacinth Alia, has cautioned those undermining his authority as governor of the state to desist in their own interest.

Alia, who sought unity among the people, noted that there could be only one governor in the state at a time, and as such, remained the only elected choice of the people of the state.

The governor spoke Tuesday during the burial of a royal father, the late Zaki Toko Zumbe, Tor Kule Kule, Mbangur, Mbadede in Vandeikya Local Government Area of the state.

He advised those who were not

comfortable that he was elected governor to quietly leave the state, because he was elected to serve the people.

“I am standing here in this gathering to declare today that you do not have two governors in state at a time.

“I am the only governor and there are no two governors in the state and no one should undermine me.

“I want the entire Tiv nation to hear this, anyone that comes to say things should know that I am the only governor from Kunav land. “Therefore, if anyone is not happy that I am the governor, he or she can leave Kanav land or Tiv land as a whole.”

L-R: Julius Abure, national chairman Labour Party with Mahmood Yakubu, chairman Independent National Electoral Commission (INEC)

leaders in Abuja.... yesterday

John Shiklam in Kaduna

HEIRS INSURANCE GROUP EMPOWERS 500 SCHOOL CHILDREN...

L-R: Brand Manager, Heirs Insurance Group, Ayodeji Akinwande; Head, Marketing and Corporate Communications, Heirs Insurance Group, Ngozi Okoli; Senior Partnership Manager, Slum2School Africa, Hauwa Yahaya; and Education and Innovation Manager, Slum2School Africa, Oluyemi Alugo, at “The Good Project” a CSR initiative by Heirs Insurance Group which empowered 500 school children and communities in Makoko, Lagos ...recently

Enugu Jubilates as Ekweremadu’s Wife Returns After Organ Trafficking Sentence

Gideon Arinze in Enugu

There was jubilation yesterday at the Mpu country home of former Deputy Senate President, Ike Ekweremadu, in Aninri Local

Government Area of Enugu State, and some other parts of the state following the return of his wife, Beatrice, after her release from prison in the United Kingdom. Ekweremadu, Beatrice, and

Obinna Obeta, a medical doctor, had been convicted in March 2023 for conspiring to traffic a young man for organ harvesting.

Following a court judgement on May 5, 2023, Ekweremadu was sentenced to nine years and eight months in prison, his wife was sentenced to four years and six months, and Obeta was handed a 10-year prison term.

In his judgement, Jeremy Johnson, the trial judge, ruled that Beatrice should spend half of the sentence in custody and on license for the rest of the sentence.

Beatrice’s return to Nigeria on Tuesday marked the end of her prison period.

President General of Mpu Town Union Federated, Benjamin Chijioke, who confirmed the development, said the community was overwhelmed with joy, following the release.

Adibe Emenyonu in Benin City

Edo State Governor, Monday Okpebholo, has signed two significant bills into law, marking a new phase in the state’s judiciary and oil sector governance.

The first bill raised the retirement age for magistrates in the state from 60 to 65 years.

The governor said the move was intended to enhance the efficiency and experience of the judicial officers by allowing seasoned magistrates to serve longer, thereby improving the administration of justice in the state.

The governor also assented to a bill that increased the number of members of the state’s oil agency.

In a statement by his Chief Press Secretary (CPS), Fred Itua, the governor said the expansion was

expected to improve governance, representation, and operational efficiency within the oil agency, as well as ensure better management of the state’s oil resources and foster economic growth.

Speaking at the signing ceremony, Okpebholo reaffirmed his administration's commitment to strengthening institutions that drove justice and economic development.

He emphasised that these legislative actions aligned with the state’s vision of enhancing judicial integrity and optimising the benefits of its natural resources for the people of Edo State.

The newly-signed bills were expected to take immediate effect, with relevant stakeholders expressing optimism over their potential impacts on governance and service delivery in the state.

PDP Elected Deputies

Chuks Okocha in Abuja

It was a mild drama yesterday at the headquarters of the Independent National Electoral Commission (INEC), as the chairman of the commission, Prof. Mahmood Yakubu,warmly welcomed the National Chairman of the Labour Party, Julius Abure, into the fold of the national chairmen of political parties in Nigeria.

According to a statement by the National Publicity Secretary of the

party, Obiora Ifoh, ''An obviously elated INEC chairman, who on Wednesday at the occasion of the first consultative meeting of INEC and the leadership of the political parties in 2025, commended Barrister Abure for his resilience and sticking to the rule of law, saying ‘Good to see you’ amid slapping of hands.'' Speaking to the media, Ifoh said Abure dispelled the insinuations that the party's 2023 presidential candidate, Peter Obi, and the Abia State Governor, Dr. Alex Otti were

The divisions within the Peoples Democratic Party (PDP) showed no sign of any let-up yesterday, as elected deputies of the party’s National Working Committee (NWC) called on NWC members and stakeholders who were against the acting National Chairman, Ambassador Iliya Damagum, and National Secretary, Samuel Anyanwu,

to resign, instead of de-marketing the party.

The deputies also said Damagum and Anyanwu would continue in office till December.

That was as PDP in Ebonyi State described PDP South East Concerned Stakeholders as a faceless group that was trying to cause disaffection in the South-east zone of the party.

PDP Deputy National Youth Leader, Timothy Osadolor, who spoke on behalf of the national

Chijioke said, “It is a great day for us. Since morning, there has been jubilation and celebration in all the villages. People are shedding tears of joy, especially those that were depending on the philanthropic disposition of the family to survive.” Councillor of Mpu Ward, Hon. Ogbuka Edwin, said it was like a public holiday in Mpu as the absence of Ekweremadu and his wife had created a big gap in the community.

Edwin stated that leaders of the community would not relent in their prayers until the former senator joined his family, saying that is the only time their joy would be complete.

Say Damagum, Anyanwu stay till December Party disowns Ebonyi group, insists Odefa remains South-east NVC

deputies, told a press conference in Abuja, “The case of the acting national chairman is settled till December 2025, and that of the national secretary should wait on the courts. Let's learn to love and support PDP first and always.” Osadolor berated members of the NWC, who went about disparaging the party for their self-interest.

He said, “Apart from court distractions, the acting national chairman, Iliya Damagum, and the national

secretary, Samuel Anyanwu, will stay in office till December 2025 and there is nothing anybody can do about it.

“We, the elected deputies of the PDP National Working Committee, have deemed it fit and proper to come out and speak, for the saving of the soul and integrity of this blessed and beloved party of ours.

“We are dealing with disillusionment of members across the country and beyond, for reasons bordering on distrust, insincerity, lack of firm enforcement of agreements, selfserving interests, and unnecessary eye service that is laced with smooth tongues.”

the party in Ebonyi State described PDP South East Concerned Stakeholders as illegal and unconstitutional, saying there is no such group known to the PDP constitution and all organs of the party.

working against the leadership of the party.

He insisted that the misunderstanding had been exaggerated and must be seen as a family affair, which must be resolved amicably within the family.

Ifoh further said Abure also appreciated both the High Court and Court of Appeal for their judgements, which favoured the Labour Party.

He, however, vowed that under his watch, the party would reconcile

all aggrieved members of the party and reposition the party for future elections.

"Let me first appreciate the Appeal Court for doing justice, for looking at the whole matter and resolving it in our favour which ordinarily is in line with the law of the land, the constitution of Nigeria, the electoral law and the party constitution.

“So, we want to appreciate the Court of Appeal judges. We also want to appreciate the High Court judges, who had earlier delivered

judgement in favour of the leadership of the party.

"I want to say essentially, that the squabbles within the party ought to be a family affair and that is how I see it. For me, there are no hard feelings.

“Like I said before, all those who may have one grievance or the other against the leadership of the party, it is an opportunity for all of us to come together, reconcile our differences and chart a way forward for our party.”

In a statement issued by Ebonyi State Chairman of PDP, Mr Onyemaechi Nwele, and Secretary, Mr Zacheus Ogbuefi, the party insisted that Ali Odefa remained National Vice Chairman of the party in Southeast zone.

PDP stated that it was mischievous for the group to publish an "incomplete judgement" of the Federal High Court sitting in Abakaliki, which the party said was geared towards deceiving and misleading unsuspecting members of the public and PDP members in the zone.

Chuks Okocha in Abuja and Benjamin Nworie in Abakaliki

COURTESY VISIT BY NDIC MANAGEMENT TO THE CJN...

L-R: Managing Director/CEO, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan presents some of the corporation’s research publications to the Chief Justice of Nigeria (CJN), Justice Kudirat Olatokunbo Kekere-Ekun, during a courtesy visit of the NDIC Management to the CJN in Abuja…yesterday

Obi: Niger Tanker Explosion Heart-breaking

Okocha in Abuja

The presidential candidate of Labour Party (LP) in the 2023 general election, Peter Obi, described the death of almost 100 persons in the petrol tanker explosion in Niger State as heart-breaking.

Obi called for stricter safety measures to prevent such accidents in the future.

In a post on X, shared by Ibrahim Umar, the spokesman for POMR, the former Anambra State governor commiserated with the people and government of Niger State as well as families of the victims.

Obi wrote, “The tragic petrol tanker explosion that occurred along Dikko-Maje Road in the Suleja Local Government Area of Niger State yesterday is truly heart-breaking.

“Reports indicate that over 70 lives were lost, while more than 50 people were injured in the incident.

He stated that such accidents had become recurrent, and stressed the urgent need for the implementation of stricter safety measures to address the danger of tanker explosions.

Niger Governor Pledges More Development

To complete all ongoing projects

Laleye Dipo in Minna Niger State Governor, Mohammed Umaru Bago, has promised to deliver more dividends of democracy to all parts of the state, even as he pledged to complete all ongoing projects by his administration.

Addressing the people of Suleja at the court yard of the Emirs palace, Bago said his statewide tour was to ascertain the level of completion of projects being executed and the efforts to be put to complete them.

He Bago said because of the proximity of Suleja to Abuja the Federal Capital Territory, more projects would be designed and executed for

the area.

He disclosed that a Compressed Natural Gas CNG station was being constructed for the refilling of the 100 CNG buses that would ply Suleja and Abuja route at subsidised rates for workers and free for students.

The governor expressed gratitude to the senator representing Niger East senatorial district, Mohammed Sani Musa, for complementing efforts of the state government in the provision of basic amenities to the people of his constituency, saying, "You are showing that you are really a man of the people."

Bago disclosed that Senator Musa would construct a standard stadium

in Suleja, renovate Kwamba motor garage, and build a skills acquisition centre as well as sponsor 20 Students from the area to study in Singapore.

He also disclosed that all the federal and state lawmakers from the area had agreed to support his government with their constituency projects for a robust infrastructure development in the local government.

Bago, however, promised to “look into the long list of requests” made by representatives of the people by their community leaders.

Musa, in his address, urged the people of Suleja to continue to lend support to the administration of Bago because he has their interest at heart.

INEC: FCT Area Council Elections Hold February 2026

Adedayo Akinwale in Abuja

The Independent National Electoral Commission (INEC),has announced that the Federal Capital Territory (FCT) Area Council elections would be held on February 21, 2026.

INEC Chairman, Prof. Mahmood Yakubu, made this known at the first regular consultative meeting with political parties held on Wednesday in Abuja.

He explained that Section 28(1) of the Electoral Act 2022 required the Commission to issue the notice for elections not later than 360 days before the date of the election.

Yakubu stressed that this also applied to the general as well as

off-cycle elections.

“As you are aware, the Commission is responsible for the Area Council election in the Federal Capital Territory (FCT), the only part of the country where INEC conducts local government elections.

“The last Area Council election in the FCT was held on 12 February 2022. By the effluxion of time, the tenure of the current Chairmen and Councillors ends next year.

“Consequently, the Commission has approved that the 2026 Area Council election in FCT will hold on Saturday 21st February 2026. Voting will take place in all the designated Polling Units across the 68 constituencies to elect the six Area Council Chairmen and

62 Councilors.”

The chairman noted that in compliance with the mandatory legal requirements, the notice for the election would be published next month, 26th February 2025.

He added that party primaries would be held from 9th – 30th June 2025, while the candidate nomination portal would open from 9.00am on 21st July 2025 to 6.00pm on 11th August 2025.

Yakubu stressed that the final list of candidates would be published on 22nd September 2025.

He said political campaign in public by political parties would commence on 24th September 2025 and end at midnight of Thursday 19th February 2026.

“These accidents, which have sadly become increasingly recurrent in recent times, highlight the urgent need for the implementation of stricter safety measures to address the dangers of tanker explosions

and similar incidents, which often result in colossal disasters.

“I sincerely commiserate with the families who lost their loved ones in the tragedy. I also extend my condolences to the government

Ekiti Government Faults

and people of Niger State over this devastating incident.

“May God grant them, and all of us, the fortitude to bear this loss, eternal rest to the departed, and a swift recovery to the injured.”

Gbenga Sodeinde in Ado Ekiti

The Ekiti State Government, has directed the Olorin of Orin-Odo, Ikole Local Government Area, Oba Adebisi Ogunjobi, to commence the payment of monthly stipends to some aggrieved chiefs in his community.

This move was to restore unity being threatened by persistent feud among traditional leaders in the area.

Ekiti State Deputy Governor, Chief (Mrs) Monisade Afuye, gave the order, on Tuesday, while mediating in a disagreement between some Chiefs and Oba Ogunjobi over alleged exclusion from the government's monthly payroll.

consumers.

"The FCCPC assures the public that, together with the NCC, we will continue to pursue measures that uphold these objectives."

In the meantime, the recent announcement of a 50 percent increase in telecoms tariff by the NCC has continued to spark widespread debate among industry stakeholders and consumers.

The hike, which raised call rates from N12 to N18 per minute and SMS charges from 4 to N6, also increases data costs from N300 to over N400 per gigabyte. While operators cite rising operational costs, inflation, and foreign exchange volatility as justification, critics argue that the burden of inefficiencies is being unfairly transferred to subscribers.

Speaking yesterday on ARISE News Channels, the broadcast arm of THISDAY Newspapers, a legal expert, Frank Tietie, criticised the tariff adjustment, highlighting the lack of a public inquiry as stipulated by Sections 57 and 58 of the NCC Act.

“There must be public hearings where consumers can represent their grievances and demand accountability. Nigerians deserve a platform to question poor service quality and the lack of investment in sustainable

This intervention stemmed from several petitions written by these aggrieved Chiefs over alleged refusal of Oba Ogunjobi to pay their monthly stipends, since February 28, 2018.

Addressing the parties, Mrs. Afuye, in a statement by her Special Assistant on Media, Victor Ogunje, directed the monarch to pay the aggrieved Chiefs from January, 2025, while part of the outstanding arrears should be defrayed to pacify the affected chiefs.

In resolving the matter, Mrs Afuye was explicit that the stipends for the traditional chiefs couldn't be diverted for development purpose, without the consent of the beneficiaries, describing this as a clear negation of the government's financial statute. She, however, faulted the traditional chiefs for refusing to cooperate with the monarch to lift the town forward, saying their abstention from traditional meetings was creating a wedge in the wheel of progress.

energy alternatives like solar power,” Tietie said.

He faulted telecom operators' over reliance on diesel and their failure to explore green energy solutions despite global commitments to sustainable practices. He also pointed out the absence of significant consumer protection mechanisms within the NCC, describing them as ‘out of reach for the ordinary Nigerian’, adding that complaints, such as incessant SMS advertisements and drop calls, are often ignored, forcing consumers to bear the brunt of inefficiencies.

Defending the hike, industry proponents cited inflation rates, which have surged from 9 per cent a decade ago to over 30 per cent today, and the challenges of maintaining telecoms infrastructure amidst insecurity in some parts of the country. Tietie, however, dismissed these justifications, stating that systemic issues, such as unresolved debts between telecom operators and banks over USSD charges, should not be transferred to consumers. “The NCC has failed to prioritise consumer interests, instead shielding operators from accountability,” he added.

As Nigerians grapple with rising costs, the debate underscores the need for a balanced approach that

"I appeal to Kabiyesi to start paying their stipends from this month and part of the outstanding ones should be paid accordingly using internal mechanism. But for you to be paid, go and cooperate with the traditional ruler for the purpose of development and peaceful coexistence,” he said.

protects consumers while sustaining the telecoms industry. Tietie advised ordinary citizens to demand better service quality and accountability, urging the government to enforce stricter oversight and explore innovative solutions to reduce operational costs.

President of the Association of Telecommunications, Information Technology, Cable Satellite Network Operators and Allied Services Employers’ of Nigeria (ATICEN), Adede John Williams, yesterday, commended the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, and the EVC/CEO of Nigerian Communications Commission (NCC), Dr. Aminu Maida, for taking a proactive measures concerning tariff hike in Nigeria, insisting that it will further ensure the operational sustainability of the telecommunications operators in Nigeria. Williams emphasised the role the telecommunications sector and the ICTs subsector plays in Nigeria’s economy through its contributions to foreign direct investment (FDI) and GDP growth. He called for collaboration between subscribers and telecoms operators, to further drive development in the telecoms sector.

Chuks

Police Apprehend 652 Suspected Felons in Three Weeks

Linus aleke in abuja

There was a harvest of criminals across the federation as the Nigerian Police Force (NPF) yesterday announced the arrest of no fewer than 652 suspected felons for involvement in various kinds of criminality in the first three weeks of January 2025. The police unveiled this disturbing figure while parading

some of the suspected felons at the headquarters of Force Intelligence DepartmentIntelligence Response Team (FID-IRT) in Guzape, Abuja. Addressing crime correspondents during the parading of the suspected felons in Abuja, the Force Spokesperson Olumuyiwa Adejobi, said that since January 1st 2025, the Nigeria Police

Tanker Driver Dies, Apprentice Injured in Ibadan Inferno

Kemi Olaitan in Ibadan

A petroleum tanker driver, whose name has not been revealed, yesterday lost his life as a result of a midnight fire incident that occurred in Ibadan, the Oyo State capital.

It was gathered that the incident occurred when the tanker, carrying Premium Motor Spirit (PMS), lost control while in motion and hit two other trucks in front which somersaulted into a nearby ditch and caught fire, along the Ojoo-Iwo Road Expressway in

Ibadan. It was further learnt that the driver of the petroleum tanker lost his life as a result of the accident while the apprentice was rescued and rushed to the University College Hospital (UCH), Ibadan. The General Manager of Oyo State Fire Service, Mr. Yemi Akinyinka, who confirmed the incident, said men of the fire agency immediately moved to the scene when they were contacted, noting that the tanker was destroyed by the fire.

Bauchi First Lady Empowers 723 Women, Youths

segun awofadejiinBauchi

About 723 women across the 20 local government areas of Bauchi State were economically empowered by the Almuhibbah Foundation, a brainchild of the wife of the state Governor, Dr. A’isha Bala Mohammed. Speaking at the flag -off of Almuhibbah Foundation Women and Youth Empowerment Programme yesterday, Aisha Mohammed said that it is one of the foundation’s mission and core objectives to empower individuals, especially youths and women, through education, agriculture, health initiatives, and skill acquisition. Mohammed expressed the

belief that empowerment of the state communities is the key to creating lasting change, stressing that: “We have had the privilege of supporting more than twenty thousand people in this regard.”

Almuhibbah founder said: “The businesses we are supporting today range from local catering, popcorn making, soft drink, tofu making (Awara), animal rearing, irrigation farming tools, tailoring machines, grinding machines, and deep Freezers to mention but a few.”

The wife of the state governor explained that the initiatives have not only provided an avenue for financial independence, but also provided a sense of hope and purpose.

Shyllon Museum, Law Firm Partner to Support Nigerian Artists

yinka Olatunbosun

The Yemisi Shyllon Museum of Art (YSMA), Pan-Atlantic University, in collaboration with the Guild of Professional Fine Artists of Nigeria (GFA) and Kenna Partners, a leading law firm renowned for its expertise in art law, recently hosted a transformative workshop titled: ‘Empowering Artists: Navigating Legal and Contractual Issues in the Arts World’, at the museum.

This workshop, the first of its kind in Nigeria, placed a spotlight on copyright practices and intellectual property rights, emphasising their

pivotal role in protecting artists’ works, fostering innovation, and driving national development. The facilitators, Okechukwu Ekweanya and Ifunanya Ikwueto, addressed the critical need for awareness and enforcement of art-specific agreements, which, if overlooked, could short-change artists and hinder the creative sector’s potential to significantly contribute to the economy. At the heart of the discussion was the recognition of copyright as an invaluable asset that secures legal rights and income opportunities for creators, regardless of who owns the physical creations.

Force has recorded significant achievements in the fight against crime.

These, he said include: “The arrest of 179 armed robbery

suspects, 100 kidnapping suspects, 152 Murder/homicide suspects, 34 suspects connected with the unlawful possession of prohibited firearms, 77 rape

suspects, and 110 suspected cultists.”

Police operatives, he said, also recovered 73 illicit firearms of various calibers, and 310

ammunition.

Adejobi also revealed that the police also recover 56 stolen vehicles and rescue 302 Kidnap victims across the country

Rivers LG Polls: Court Dismiss LP Petition for Lack of Merit

Blessing ibunge in Port harcourt

The Rivers State Local Government Election Petition Tribunal has dismissed the petition of Labour Party (LP) and its chairmanship candidate, Chioma Chinwo, in the last local government council election in the state, for lack of merit.

The three-man panel of the tribunal led by Chief Magistrate Menenen Poromon in a unanimous judgment said the petitioners failed to prove their case.

The panel said the petitioners could not prove their case on alleged allotment of votes to the winner of the election as declared by the Rivers State Independent

electoral commission (RSIEC).

The panel also held that the petitioners failed to prove claim of widespread irregularity in the election, where they were not able to present witness to that effect, insisting that the election was conducted in accordance with electoral law.

Also ruling, the panel agreed

with the respondents that Port Harcourt City Local Government Council Chairman was qualified to contest the election and showed proved with evidence contrary to the claim of the petitioners that he was not qualified to contest because he allegedly failed to resign as a civil servant before contesting the election.

Amotekun Apprehends 21 Suspects for Kidnapping, Stealing in Ondo

Fidelis david inakure

The Ondo State Security Network Agency codenamed Amotekun has arrested 21 suspects for various criminal offences within two weeks.

The State Commander of the Corps, Adetunji Adeleye, said those arrested include four suspected kidnappers, five herders alleged

of violating the anti-open grazing law, and 12 others charged with a range of offences including theft, assault, and attempted murder.

He said: “Today we are parading 21 suspects that have breached peace in various parts of the state in the last fortnight. We are rounding up the Yuletide 24-7 patrol and we are concentrating more on

the ‘Armot Rangers’ as a result of the increasing rate of security breaches on our forests.

“Across the board we have four kidnapped suspects, five that violated the anti-open grazing law and 12 that breached the general law and order of the state. The implication of this after due analysis is that the state is relatively peaceful.

“The security breaches we have ranges from suspected kidnapper, fighting and civil disorder, wandering, anti-grazing, stealing of phones and attempted murder, stealing of aluminum products, destruction of properties, conspiracy and stealing of motorcycles, conspiracy, stealing and aiding and abetting of motorcycles.”

Edo LGAs Impasse: Group Urges Tinubu to Direct IG to Enforce S/Court Judgment

adibe Emenyonu in Benin City

The Edo State Local Government councils’ autonomy saga has reached a critical point with calls on President Bola Ahmed Tinubu to direct the Inspector General of Police to enforce the Supreme Court judgment and allow elected Council chairmen return to duty.

This comes after Governor Monday Okpebholo’s refusal to comply with the ruling, sparking growing condemnations.

Since December 2024, the 18 LGAs chairmen have been illegally removed from office, despite strong opposition from various quarters.

However, The Gidigba Group, a socio-political interest group, has joined those calling on President Tinubu to act swiftly and avoid further escalated chaos.

The group’s convener, Solomon Idugboe, emphasised that local government is crucial for grassroots development, and the Edo State government’s actions are undermining this principle.

The Supreme Court judgment delivered in July 2024, granted financial autonomy to local government councils, empowering them to receive direct allocations from the Federation Account.

A’Ibom Pensioners Seek Audience with Gov Eno on LG Autonomy, Demand Pension Bureau

Okon Bassey in uyo

The union also tasked Governor Eno to consider the establishment of Akwa Ibom State Bureau of Pension as it exist in other South-south states of Nigeria.

The bureau, the union said, would include Civil Pensioners, Local government retirees,

The Nigeria Union of Pensioners, Akwa Ibom State Council, has sought audience with the state Governor, Umo Eno, on the issue of autonomy to local government as it affects the payment of monthly pension and gratuity to avoid what happened during the previous autonomy of 1990.

Primary School Teachers Departments as it will assist during this era of financial autonomy for local government councils.

The meeting, which also had retired primary school teachers and local government leaders in attendance, expressed gratitude to the governor for his benevolence to all retired pensioners in the state. A communique endorsed by Obong E. E. Ekpo (JP), chairman NUP; Obong Cosmos M. Essien, secretary NUP and others noted the smooth payment of monthly pension and paying of N20,000 minimum pension in lieu of N30,000 minimum wage.

Mbah Urges Diaspora Community to Consider Enugu as Investment Destination

Gideon arinze in Enugu

Enugu State Governor, Dr. Peter Mbah, has urged the Nigeria diaspora community to consider Enugu as their first choice of investment destination, stressing that his administration has created robust mechanisms to facilitate

their investment process and ensure high return on investment.

This was even as the Chairman, Nigerians in Diaspora Commission (NiDCOM), Mrs. Abike DabiriErewa, commended the governor for his committed investment in the state’s infrastructure and security, noting that the huge

investment potentials that would benefit diaspora investors.

Mbah made the call yesterday in Enugu while delivering his welcome address at a sensitisation and advocacy workshop organised by NiDCOM in partnership with Enugu State Government for the promotion of diaspora investment

potentials in Southeast Nigeria.

In his address, Mbah said that his administration has already positioned the state as a business-friendly environment through policies such as easy access to land, guaranteed return on investment, transparency and secure environment.

Philanthropist Harps on Collaboration to End Poverty, Hunger in Nigeria

A United States of America (USA)based philanthropist, Mrs. Temitope Sonuga, has called for partnership between government and the private sector to end the scourge of hunger and poverty in the country.

This is coming just as she lamented the prevalence of the

scourge which she said has eroded the dignity of the average Nigerian citizen. Sonuga stated this in a statement she issued to newsmen while recalling her experience during her foundation’s food distribution of palliatives to residents of Ajegunle community of Lagos. She carried out the distribution through her pet project, Temitope Giving Hands Foundation during the last Yuletide. In all, no fewer than 1,000 palliatives were handed over to indigent residents of the area when the event took place.

Recalling her experience, Sonuga said: “With what I saw on ground, the Nigerian government, the wealthy ones well as the organised private sector will need to come together to tame this monster which has become a ticking bomb to the country.”

COURTEsy VisiT…

Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim (left) and Minister of State for Education, Dr. Suwaiba Said Ahmad, during courtesy visit by Ahmad to the Women Affairs Minister in Abuja…yesterday

Nigeria Reach Super 6 Stage after Nervy Loss to S’Africa

To play England, Ireland for prospective berth in semifinals

CRICKET U19 WORLD CUP

Nigeria's Women’s U-19 cricket team, the Junior Yellow-Greens yesterday progressed into the Super 6 stage of the 2025 ICC U-19 Women's T20 World Cup, finishing second in Group C behind South Africa.

The Junior Women’s Yellow-Greens ended their group campaign yesterday with a 41-run (DLS method) defeat against South Africa but their historic two runs win over New Zealand on Monday, as well as the share of points against Samoa were more than enough to see them through as the second-best team in Group C.

In what was the second meeting between Nigeria and South Africa (in women's cricket) in the last one year, captain Piety Lucky won the toss and sent the leading African side to bat first.

Led by Simone Lourens' four fours, South Africa got off to a good start in the crease but she was eventually curtailed by the Nigeria captain, Lucky, in the seventh over before the game

was forced down to eight overs by a rain stoppage.

After the restart, Lucky continued from where she stopped, dismissing Kayla Reyneke with another wicked ball as the South Africans finished the first innings 49 for 2.

Nigeria's chase was nervy and the adrenaline rush didn't help Sarah Bakhita's side who only mustered 24 for 8.

Regardless of the result, the Nigerian team will continue to chase history as they square up against England and Ireland in the Super 6 stage on Saturday, January 25 and Wednesday, January 29 respectively.

England and Ireland emerged from Group B where they finished first and third respectively.

The Junior Female Yellow Greens will need all the points and runs in the next round to consolidate their group stage efforts as they hope to reach the semi-finals.

Sinner Dismisses Health Fears to Reach

Aussie Open Semis

Defending champion Jannik Sinner dismissed concerns about his physical state yesterday to thrash home hope Alex de Minaur and reach the Australian Open semi-finals.

Sinner struggled with illness in his previous match but looked sharp in a 6-3 6-2 6-1 victory over eighth seed De Minaur.

Two days after being sick before playing Denmark's Holger Rune and needing to see a doctor, Sinner said he felt "ready" when he woke up on Wednesday.

Sinner denied speculation he had pneumonia, saying blood tests

after his fourth-round match were "all good".

"I feel like the illness has gone away now. I was feeling much, much better this morning," the world number one said. "When you are young you recover very fast - so it's a bit different."

The 23-year-old Italian will face American Ben Shelton in the last four on Friday. Shelton, 22, reached the Melbourne semi-finals for the first time with a battling 6-4 7-5 4-6 7-6 (7-4) against Italy's Lorenzo Sonego.

Gov Oyebanji Appoints Akin Rotimi as Chairman of Ekiti Para Athletics

Gbenga

The Governor of Ekiti State, Mr Biodun Oyebanji, has appointed the lawmaker representing Ekiti North 1 (Ikole/Oye) Federal Constituency, Akin Rotimi, as the Chairman of Ekiti Para Athletics Association.

The appointment was conveyed in a letter through his Technical Adviser on Sports Development, Olusola Osetoba and made available to journalists by the lawmaker’s spokesperson, Sunkanmi Bamigboye.

According to the statement, the appointment underscored the Governor's commitment to fostering inclusivity and sports development in Ekiti State in order to develop the state’s potential in para athletics.

The formal inauguration and swearing-in ceremony of the association’s board members took place in Ado-Ekiti, with stakeholders and advocates of para athletics in attendance.

Meanwhile, the lawmaker, during the maiden meeting of the committee in Ado-Ekiti on Saturday, pledged to prioritize the welfare of athletes with disabilities, focus on new talents discovery by fostering a thriving para athletics sector in the state. Rotimi, who is also the Chairman

of the House of Representatives Committee on Media and Public Affairs, urged the committee members to collaborate with him to elevate Ekiti State's para athletics, aligning with the efforts of Governor Biodun Oyebanji to promote sports activities.

He also emphasized that the action is a testament to the inclusion of para athletes in the government's shared prosperity agenda, while also expressing his commitment to working with all board members and stakeholders to fulfill the association's mandate.

His words, “I am honored by this appointment and the trust placed in me to lead the Ekiti State Para Athletics Association. This is an opportunity to make a meaningful impact by supporting our athletes and creating pathways for success.

“I’m charging you today to work with me in lifting Ekiti State para athletics to another level.

Other members of the newly inaugurated committee include: Toyin Ojo (Vice Chairman), Ojo Peter (Athlete Coach), Oluwafemi Blessing (Secretary General), Blessing Akinyemi (Media Director), Rotawo Olusegun (Athlete Representative), Patrick Oyeniyi, Yaquob Popoola, and Olaota Adediji as members.

GETTING BACK THE GROOVE...

Kylian Mbappe was on the scorer’s sheet yesterday as Real Madrid battered Red Bull Salzburg 5-1 to steady their hope of qualifying for the Group stage from the playoffs of the new format UEFA Champions League

AIkmaar v AS Roma Bodo/Glimt v Maccabi Tel FC Porto v Olympiacos

Fenerbahce v Lyon Hoffenheim v Tottenham Malmo FF v Twente

Plzen v Anderlecht

Qarabag v FCSB

Frankfurt v Ferencvaros

Elfsborg v Nice

Lazio v Sociedad

Ludogorets v Midtjylland

Man Utd v Rangers

PAOK v Sl’Prague

RFS v Ajax Royale USG v Braga

Lagos to Host South West Games 2025, Gets NSC’s Endorsement

Inaugural BAT-SWAG set to spotlight region’s athletics prowess

Duro Ikhazuagbe

A grand new sports spectacle is set to unfold next month as the National Sports Commission (NSC) partners Practagali Limited to host the maiden edition of the South West Games 2025.

According to organisers of the Games, this sub-tournament of this pioneering initiative, the Bola Ahmed Tinubu Southwest Alliance Games (BAT-SWAG), will serve as an illustrious platform to unearth and nurture the region’s next generation of sporting talents.

Like a well-struck gong resonating across the six Southwestern states—Ekiti, Lagos, Osun, Ondo, Ogun, and Oyo—this tournament is to herald a new dawn of competitive sportsmanship, youth empowerment, and regional unity.

The South West Games 2025 has also been described as an epochal rallying call for athletes, policymakers, and sports enthusiasts to converge in celebration of skill, endurance, and the unifying spirit of the game.

Spokesman of the Games, Victor Ganzallo, described BAT-SWAG as a potent tool to channel the energies of youth in the region into productive ventures, particularly in an era where social vices lurk as omnipresent threats.

He said: “Sports possess an unparalleled power to transform lives, and BAT-SWAG is designed to harness this power to inspire, uplift, and empower young people.

“The legacy of BAT-SWAG will be measured not just in the moments of triumph on the field but in the opportunities it creates, the lives it transforms, and the communities it uplifts. This is more than a sporting

event; it is a movement.”

In his remarks while receiving the BAT-SWAG team at the NSC headquarters in Abuja, the Director General of the NSC, Hon. Bukola Olawale Olopade, underscored the Commission’s commitment to ensuring the Games achieve its full potential.

“The South West Games 2025 and the Bola Ahmed Tinubu Southwest Alliance Games are not mere contests of athletic prowess; they are platforms for youth engagement, talent discovery, and community unity. The NSC recognizes the immense potential of this initiative to elevate sports development and nation-building and has given its endorsement to the Games.”

He further emphasized that beyond the spectacle of competition, these Games will become conduits for leadership growth, skill development,

and economic stimulation across the region.

“To this end, the NSC has pledged its unwavering support in providing technical expertise, logistical assistance, and strategic direction to ensure the tournament meets international standards.

“By uniting people through sports, the Games will not only elevate the competitive landscape of the region but will also serve as an engine for fostering resilience, discipline, and social cohesion,” Olopade remarked.

He lauded Practagali Limited for its visionary leadership in conceiving such an initiative, stressing that the synergy between government and private stakeholders will be crucial in redefining the Southwest as a veritable hub of sporting excellence.

The Director General of the Lagos

State Sports Commission, Lekan Fatodu, expressed confidence in the state’s ability to deliver a spectacle worthy of its name. “Hosting the inaugural Bola Ahmed Tinubu Southwest Alliance Games is a reaffirmation of Governor Babajide Sanwo-Olu’s unwavering commitment to sports development. Lagos has consistently championed the cause of athletic excellence, making it the perfect launchpad for this historic initiative.”

The South West Games 2025 is geared to transcend the traditional confines of competition, offering an eclectic mix of sporting disciplines tailored to both contemporary and indigenous traditions. Competitions will span athletics (track and field), basketball, boxing, football, table tennis, and traditional African games such as Ayo-Olopon and Abula.

L-R: Mr Adeboye Adeyinka, Senior Special Assistant on Grassroots Sports Development to President Bola Tinubu; Spokesman, South West Games, Mr Victor Ganzallo; and the Director General of the National Sports Commission (NSC),

of the South

Hon. Bukola Olawale Olopade during the presentation

West Games proposal to the commission in Abuja...recently

Sodeinde in Ado Ekiti

Thursday, January 23, 2025 Price:

David Umahi to Julius Berger

“You finish 65 per cent, and then you are asking for N1.1 trillion as a review and there’s no additional work. And let me say that we are engineers. We went to better schools than some of these people that are claiming to be engineers. So, nobody should come to teach us engineering...we refused to pay an additional N1.1 trillion, and that’s where the problem started”-—Works Minister, on why contract for the Abuja-Kaduna-Kano expressway initially awarded to the construction company was revoked.

OLUSEGUN ADENIYI

olusegun.adeniyi@thisdaylive.com

Donald Trump II, The Godfather

Seated on the dais behind the lectern at the Capitol Rotunda where Donald Trump was inaugurated as the 47th American President on Monday were the wealthiest men in the world: CEO of Meta (parent company of Facebook and Instagram), Mark Zuckerberg, Apple boss, Tim Cook, CEO of Alphabet Inc and Google, Sundar Pichai and Amazon founder and Washington Post owner, Jeff Bezos. Others included Google co-founder, Sergey Brin, CEO of Tik Tok (the social network at the centre of a banning controversy), Shou Zi Chew, former executive chairman of Fox Corp., the legendary Rupert Murdoch and CEO of Tesla and SpaceX, Elon Musk, who also owns X (formerly Twitter). Strategically positioned a row behind members of Trump’s immediate family but one row ahead of members of his in-coming cabinet, these powerful men also joined Trump at St. John’s Episcopal Church across the White House shortly before the swearing-in ceremony. There was nothing accidental about their presence at these events and the placement of their seats. Due to a mild cold, I decided not to go to the office on Monday so from noon till 7pm, I was glued to the television, watching the CNN coverage of the inauguration of the 45th American President and now its 47th. In many ways, the proceedings were like the opening scenes in the movie, ‘The Godfather’, where Don Vito Coleone (acted by Marlon Brando) was giving out the hands of his daughter in marriage. The movie was based on the novel of same title by Mario Puzo. On that ‘glorious’ day, all that Don Coleone sought of the high and mighty who gathered for his daughter’s wedding was their ‘friendship’ which, of course, was not cost-free as we saw in the dialogue with a central character called Bonasera. By telling Bonasera who sought revenge for the fate that befell his daughter that he had to join the community of ‘friends’, the Don was demanding fealty, and he made that clear enough: “You never wanted my friendship. And you were afraid to be in my debt.” As the Don would later say after the deal was consummated, “Friendship is everything. Friendship is more than talent. It is more than the government. It is almost the equal of family.’’

Both the scene in the movie and the one at the American Congress on Monday centred essentially around family, friendship, loyalty, wealth and power. “In the first term, everyone was fighting me. In this term, everybody wants to be my friend,” Trump told reporters at his Mar-a-Lago resort last month as powerful men and women from across the globe visited one after another to ‘kiss the ring’ of a man to whom family, ‘friendship’, loyalty, wealth and power are indeed everything.

Doris Kearns Goodwin, 82-year American biographer, historian and author of ‘No Ordinary Time: Franklin and Eleanor Roosevelt-—The Home Front in World War II’ which won the 1995 Pulitzer Prize for History, was one of the commentators on CNN. Like others, Goodwin conceded that Trump’s return to the White House is quite remarkable, but she also expressed reservations about the influence of the ‘tech oligarchs’ who have now become part of the presidential

inner circle. That reservation is shared by no less a personality than Senator Bernie Sanders.

“When the three wealthiest men in America sit behind Trump at his inauguration, everyone understands that the billionaire class now controls our government,” Sanders posted on social media. Instructively, Trump was inaugurated on the day the 2024 Oxfam International report revealed that the wealth of global billionaires rose by $2 trillion to $15 trillion within one year. Titled, ‘Takers Not Makers,’ the report stated that there were 2,769 billionaires worldwide in 2024, an increase of 204 over the previous year, while three-fifths of this wealth came from inheritance, monopoly power or crony connections. “The capture of our global economy by a privileged few has reached heights once considered unimaginable. The failure to stop billionaires is now spawning soon-to-be trillionaires. Not only has the rate of billionaire wealth accumulation accelerated—by three times—but so too has their power,” Oxfam International Executive Director, Amitabh Behar, said. “We present this report as a stark wake up-call that ordinary people the world over are being crushed by the enormous wealth of a tiny few.”

In the immediate case of the American ‘tech oligarchs’, the real concern is not about their bank balances but rather in the control that they have over the information we all consume and how Trump could leverage on that to reshape our world in the coming months and years. Besides, the rise of AI as a new force in the use of technology for the advancement of human progress means that Trump, as an aspirant to ultimate world power, needs the ‘friendship’ of these tech oligarchs, just as they need him for their businesses. But the overriding lesson is perhaps that Trump has made his personal interests to become synonymous with America’s national interest. To offend Trump is to annoy America

which he is positioning as the ‘Godfather of nations’. To be the enemy of one is to court the ire of both. “For now, folks are estimating that it is better to be on his good side than not—the problem for them is that his good side changes frequently,” Wendy Schiller, a political science professor at Brown University, reportedly told AFP.

Nothing perhaps demonstrates that better than the fact that among the several executive orders Trump signed on Monday was halting the law banning TikTok for 75 days “to permit my Administration an opportunity to determine the appropriate course of action.” Not many remember but three months before the 2020 presidential election which he lost, Trump had issued an executive order that the spread of mobile apps developed and owned by Chinese firms “threaten the national security, foreign policy, and economy of the United States”. Targeting TikTok and WeChat, he said both “capture vast swaths of information from its users” and “This data collection threatens to allow the Chinese Communist Party access to Americans’ personal and proprietary information” for the purpose of tracking US government employees and gathering information for blackmail, or to carry out corporate espionage.

That marked the beginning of the problem for Tik Tok, eventually culminating in the Protecting Americans from Foreign Adversary Controlled Applications Bill overwhelmingly passed by Congress in a bi-partisan manner and signed into law last April by President Biden. ByteDance, the app’s Chinese parent company, was to divest its interest in TikTok by 19 January 2025 or face a nationwide ban. Without divestiture, penalties would prevent updates or distribution of TikTok via platforms such as Apple and Google. And in a unanimous decision last Friday, the US Supreme Court affirmed the law.

Now, Trump is singing a new tune because, as he has publicly admitted, the app helped him to win over many young voters during the election, even though the future of the company remains unclear. “This is one of those things where the domestic politics has become so upside down and crazy that it turns out there’s only upside for Trump now,” Bill Bishop, a China expert told the Associated Press (AP). If the ban ends up being enforced, according to Bishop, Trump will put the blame on Biden. “And if it does come back, then Trump is a savior. And he will be rewarded both by users” as well as the company, which is now “beholden to Trump”.

Indeed, the fear of Trump is now the beginning of wisdom in Washington DC and may be also in several capital cities across the world. Essentially due to that fear, President Biden’s last decision in the White House was one that tarnishes his reputation and further diminishes him in the eyes of many Americans. He issued blanket (and anticipatory) pardons to his brother, James Biden, James’s wife, Sara Jones Biden; his younger sister, Valerie Biden Owens; Valerie’s husband, John T Owens; and his younger brother, Francis W Biden. “The issuance of these pardons should not be mistaken as an acknowledgment that they engaged in any wrongdoing, nor should acceptance be misconstrued as an admission of guilt for any offense,” stated Biden who had last month also issued “a full and unconditional” pardon to his son, Hunter Biden. “My family has been subjected to unrelenting attacks and threats, motivated solely by a desire to hurt me – the worst kind of partisan politics. Unfortunately, I have no reason to believe these attacks will end.”

There may be justification for Biden’s fear about retribution from his successor. Shortly after his inauguration on Monday, the official portrait of retired General Mark Milley was taken down from the Pentagon hallway where the paintings of all previous chairmen Joint Chiefs of Staff are located. In September 2023, Trump had written on his social-media network, Truth Social, that Milley’s two phone calls to China on 6 January 2021 in the aftermath of the storming of the Capitol was “an act so egregious that, in times gone by, the punishment would have been DEATH.” Yet, all Milley did was to assure his Chinese counterpart, General Li Zuocheng, that the US is “100 percent steady” even though “things may look unsteady” as revealed in ‘Peril,’ the 2021 book by Bob Woodward and Robert Costa. The phone calls, which riled Trump when he learnt about them, were said to have been authorized by top-level officials in his government. It is just as well that Milley also secured one of the pre-emptive presidential pardons from Biden in his last days in office. Several books have been written about Trump in the past years. I have read quite a few. Many more will be written about him in the years and decades to come. But for now, it is safe to conclude that with him back at the White House, Americans are effectively under the ancient Chinese curse: They are now living in interesting times. We can say the same for the rest of the world.

Still on The GDP of Sex, Drugs, Rituals

Following the publication last Thursday of my column, ‘The GDP of Sex, Drugs, Rituals’, I got a message from the Nigerian Economic Summit Group (NESG) Chief Executive Officer, Tayo Aduloju, that the Statistician General of the Federation, Adeyemi Adeniran, would want to meet with me for a discussion on the issue. I found the idea refreshing. Since we inhabit a country where people judge others by their own standards, I would not have been

surprised if I had received an intrepid rejoinder laden with abuse and allegations of how I was “sponsored” to knock the exercise. Adeniran didn’t take that route. Last Friday, I was at the National Bureau of Statistics (NBS) head office in Abuja where he was waiting for me, along with all his directors and eminent professors, who were working on the rebasing exercise. Aduloju also joined in the discussion… NOTE: Piece concluded online