FRIDAY 24TH JANUARY 2025

Atiku, Akpabio, Wike Salute THISDAY Newspapers on Its 30th Anniversary

FCT minister says THISDAY/Arise Group among best globally Managing Director, Eniola Bello, reiterates media house’s adherence to founding principles Alumni hails newspaper for pursuit of editorial independence

Accolades have continued to pour in for THISDAY on its 30th anniversary, with former Vice President Atiku

Abubakar, Senate President Godswill Akpabio, and Minister of the Federal Capital Territory (FCT), Nyesom Wike,

eulogising the newspaper for its commitment to excellence. Atiku, in a press statement signed

www.thisdaylive.com

Lauds CDS’

Government

Tinubu: Enhancing Welfare of Military Officers, Men Paramount to

Wale Edun: Why Nigeria Does Not Need IMF Loans

Admits inflation, cost of living still high Minister backs 50% telecom tariff increase Says businesses lining up to invest in Nigeria Cardoso: CBN to boost compliance regime to enhance transparency PwC projects 3.3% growth for Nigeria amid policy reforms Foresees FX stability, inflation decline, others in 2025 Ex-FCT Minister, Jerry Useni, Dies at 81... Page 14

his media adviser, Paul Ibe, lauded the publisher of THISDAY, Prince Nduka Obaigbena, and the Continued on page 10

Emmanuel Addeh,Chuks Okocha and Sunday Aborisade in Abuja GROUND BREAKING

L-R: Minister of Defence, Mohammed Badaru; Inspector General of Police (IGP), Kayode Egbetokun; Chief of Army Staff, Lt. Gen. Olufemi Oluyede; President Bola Ahmed Tinubu; Chief of Defence Staff, Gen. Christopher Musa; and Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, during the Ground Breaking Ceremony of the New Armed Forces Complex, behind Lungi Barracks Asokoro Abuja .... yesterday

The president said, “This ceremony

Deji Elumoye in Abuja

President Bola Tinubu has said enhancing the welfare of officers and men of the Nigerian armed forces is paramount to his government. Tinubu spoke yesterday in Abuja at the ground-breaking ceremony of a new defence complex and

NOMINATED...

Maiha: FG Rehabilitating Grazing Reserves to Silence the Guns

Stakeholders urge govt to support local farmers, manufacturers to reduce food inflation Abbas: Food insecurity worsening

James Emejo in Abuja

The Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, yesterday said the ministry was working on rehabilitating the country's grazing reserves to address conflicts and other security concerns associated with sector to improve food production.

The minister also reaffirmed the ministry's commitment to ensuring safe, abundant, and sustainable food for every Nigerian.

He said working together with various stakeholders, the country can fight hunger and build a resilient and inclusive food system.

The minister spoke at the 22nd Daily Trust Dialogue with the theme, "Food Security: Availability or Affordability?"

He said it was time to act and address challenges in the livestock sector to build a future of food security for all.

He said there was nothing currently more pressing than what to eat, and where to get food, adding that hunger remained a key challenge in the economy.

Maiha pointed out that while the country's per capita food consumption was lower than the global average, it is steadily increasing due to rising incomes and urbanisation.

He noted however, that a significant

gap exists between current production and the protein needs of the growing population.

He said animal-derived foods must supply 37 per cent to 44 per cent more protein to meet future demand.

The minister said the sector faced several challenges, including price instability, inefficient storage facilities, and limited access to resources for rural farmers.

According to him, "The current hunger situation in Nigeria can be addressed. For too long, this sector has been overlooked.

"Today, we are working to change that through systemisation, behavioral change, communication, and the development of value the chains.

"We aim to attract more people to the industry and enhance productivity in areas such as cattle, goats, poultry, honey, camels, and leather production."

This came as stakeholders called on the government to support farmers to boost production and remain globally competitive, thereby making food more affordable for consumers.

Speaker of the House of Representatives, Hon. Tajudeen Abbas, said the National Assembly remained committed to enhancing food security through strategic investments and oversight.

He said the parliament recently established a Committee on Nutrition and Food Security to address

related issues by harmonising existing laws, improve funding for nutrition programmes, and reduce taxation on agricultural products during transit.

Represented by Chairman, House Committee on Nutrition and Food Security, Hon. Chike Okafor, Abbas said food insecurity was worsening as reflected in recent reports.

He said, "For example, 26.5 million Nigerians currently face severe or crisis-level food insecurity. Recent floods, particularly the devastating ones in my region, have worsened this crisis.

"Furthermore, the National

Meteorological Agency predicts more widespread flooding, which requires urgent intervention."

The speaker stressed that malnutrition remained a critical challenge in country, adding that statistics show that 45 per cent of children under five suffer from malnutrition while 34 per cent of their diet is exclusively substandard, with only 18 per cent of children aged six to 36 months receive the minimum acceptable diet in terms of quality and quantity.

He said, "This raises serious concerns about the future cognitive and physical development of our

children, who are expected to lead the nation in the coming decades.

"Food security involves ensuring that all people have access to sufficient, safe, and nutritious food to lead healthy and active lives.

"The two primary pillars of food security—availability and affordability—are often debated. Both are crucial, with unique challenges and implications."

He said factors influencing food availability - the physical presence of food, achieved through production, distribution, and storage systemsincluded increased crop yields,

Nigeria Still Far from Solving

sustainable agricultural practices, efficient supply chains, and proper storage facilities. However, he noted that rural areas in developing countries often face shortages due to poor infrastructure and low productivity. On the other hand, Abbas said food affordability which ensures that individuals can purchase food without compromising other basic needs - is primarily influenced by income levels, food prices, and government policies. Programs like subsidies, price controls, and welfare initiatives are essential in making food affordable to all.

Electricity Challenges, Declares NLC Chair, Joe Ajaero

Says increase in tariffs dragging masses below poverty line, insists on dialogue

Onyebuchi Ezigbo in Abuja and Nume Ekeghe in Lagos

President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, yesterday, lamented what he described as the poor state of the nation’s power supply.

According to him, the country was nowhere in terms of stability in power generation, transmission and distribution, adding that the federal government’s decision to raise tariffs across various sectors, among other policies, has plunged Nigerians further into poverty.

ment to halt the implementation until there was an extensive and exhaustive consultations with relevant stakeholders.

Espousing the position of the labour movement on the 50 percent hike in telephone services, Ajaero said the only solution was for govern-

Engage Ogoni Communities in Divestment, Oil Extraction, Stakeholders Tells Tinubu

Blessing Ibunge in Port Harcourt Stakeholders in Ogoniland have called on President Bola Tinubu to ensure full engagement of Ogoni communities in the ongoing discussions around oil company divestments and the planned resumption of oil production in the region. They warned that sidelining the people in critical decisions could reignite tensions and derail efforts toward sustainable development.

The call was made during a oneday dialogue on "Oil Companies,

Divestments vs. Oil Resumption in Ogoniland," organised by the Lokiaka Community Development Centre in Port Harcourt, yesterday.

Speakers emphasised the need for transparency, justice, and communityled processes to address historical grievances and prevent further harm to the environment.

Speaking, Martha Agbani, Executive Director of Lokiaka, criticised the federal government for prioritising oil extraction without addressing the unresolved demands in the Ogoni Bill of Rights and the devastating

impact of past oil activities.

"There is a push for oil resumption in Ogoniland, but what has changed since Shell was kicked out three decades ago? Ogoni communities are still grappling with environmental degradation, ongoing oil spills, and unaddressed injustices," she said.

Agbani insisted that the Ogoni people must have a decisive role in any discussions around oil production and local content.

"The Ogoni people want to own and manage their resources. If Shell’s technical know-how left the

environment in ruins, how prepared are the communities to handle oil production sustainably? These are the critical questions we need to address openly," she added.

She also urged the federal government to respect Ogoni demands, including the exoneration of Ken Saro-Wiwa and other leaders executed in 1995, and to conduct a thorough environmental audit to identify and address areas not covered by the United Nations Environment Programme (UNEP) report.

Ajaero, who spoke last night as guest on the Channels Television programme, Politics Today, faulted the implementation of privatisation policy, saying then administration went into it without proper consultations and a clear understanding of the limitations.

The NLC president said whereas the private investors were expected to execute the venture through foreign direct investment, most of them relied on loans from local banks.

He said the action of the private sector power firms resulted in liquidity crisis in the banks and led to subsequent take over of the power distribution companies by the lending banks.

Speaking on the challenges of procurement of electricity distribution accessories, Ajaero said there was need to grow the local content to ensure availability of the materials at affordable rates.

Ajaero wondered why the Ministry of Power was not paying attention to the issues of local content in the materials used in the nation’s power

sector. He said there used to be meter test in Kafuna, Port Harcourt, and in Oshodi, Lagos, where mechanical meters were produced.

"Today, the power sector has metamorphosed into various entities and we have NEMSA and other meters that are produced, how many meters are we producing? Must we go outside to import? These are some of the challenges facing the power sector that we need to get right,” he said.

Regarding cases of vandalism of power supply cables and other facilities, Ajaero said there were modern technologies to help to know when electricity lines are tampered with and to be used in policing the facilities.

He described the 5,000 mega watts often referred to as electricity generation by the government as very insignificant compared to the level of power supply needed to support the country's soaring population of over 200 million.

"Nigeria is still at the bottom of countries suffering from power supply poverty. How can you have more than 200 million people and somebody is telling about 5,000 mega watts of electricity.

Federal Capital Territory Minister, Nyesom Wike (left) receiving his letter of nomination as Minister of the Year by THISDAY/Arise Group from Manager, Corporate Affairs, THISDAY/Arise Group, Comrade Chris Isiguzo in Abuja...yesterday

FINANCIAL TIMES GLOBAL RISK ROUNDTABLE AT THE ONGOING WEF...

Shettima At WEF in Davos: Nigeria Will Lead Africa’s Growth With Education, Innovation in Agric

Says continent’s youths are drivers of global change Opposes nation's dependence on foreign aid but believes in partnership

Deji Elumoye

Vice President Kashim Shettima has declared Nigeria’s dedication to harnessing the potential of its youth, investing in education, and advancing smart agriculture are necessary strategies that will go a long to tackle global and domestic challenges.

On a continental level, he noted that African youths are central to this transformation.

Speaking Thursday at the Financial Times Global Risk Roundtable at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland, Shettima, according to a statement issued by his Media Assistant, Stanley Nkwocha,

observed however that while crises abound, they also present opportunities for nations to rebuild stronger. He said, “The word for crisis in Chinese is 'Wei Ji'. Wei stands for danger, while Ji stands for opportunity. Yes, we have challenges, but those challenges are pregnant with opportunities to re-engineer our society and build back better.”

The Vice President reaffirmed Nigeria’s resolve to embrace innovation and empowerment, particularly through education, gender-focused initiatives, and smart agriculture to propel its economy into the fourth post-industrial revolution.

“The crisis has given us a unique

opportunity to invest in people, especially in areas that will enable us to leapfrog our economies into global competitiveness,” he said.

Shettima also expressed disbelief in dependency on foreign aid, advocating instead for equal partnerships that uphold dignity.

His words: “I don’t believe in aid; I believe in partnership. I’d rather carry my poverty with dignity and deal with people, nations, and companies on a pedestal of equality, not in a master-servant relationship. I didn’t come with a begging bowl"

The Vice President expressed optimism about Africa’s prospects, noting the continent’s rich resources

and strategic importance to global growth, saying, “My continent is the richest in the world, and the trajectory of global growth is facing Africa. Nigeria will make or mar that transition. The youths of Africa are the drivers of change.”

Acknowledging global crises, including conflicts in Ukraine, the Middle East, and Sudan, Shettima noted their impact on supply chains, humanitarian challenges, and peace. He called for multilateral collaboration, stressing that the interconnected nature of global challenges requires collective solutions.

“There is an incestuous relationship between economy and ecology in the

Budget Defence: NELFUND Has Disbursed N116.184bn Student Loans So Far, Says MD

on transparency on spending of appropriations made for the agency in 2025.

apologized for the discrepancies observed in the budget document.

African continent. But hope springs eternal in the hearts of men. As members of the same human family, we can find solutions to our challenges. We must look inward to solve our

problems, but multilateralism is key. These challenges are global, and we must fuse into one human family to overcome them,” the Vice President further said

The Nigerian Education Loan Fund (NELFUND), disclosed yesterday in Abuja that it had disbursed N116. 184billion for upkeep of students across 176, 252 beneficiary institutions in the country, as of January, 2025.

The Education Loan Fund was however given a paltry N58.4billion budget envelope for 2025 fiscal year.

The Managing Director of NELFUND, Akintunde Sawyer, stated these in his presentation before the National Assembly joint Committee on Tertiary Institutions and TETFUND during budget defence session.

He, however clarified that out of the N116.184billion, N37.7billion was expended on institutions loan.

He said a total number of 352, 796 students applied for the loan, while 108,484, were given.

On the 2025 budgetary proposal, the NELFUND boss informed the Senator Muntari Dandutse and Hon. Gboyega Isiaka-led joint committee that a sum of N58.4billion budget envelope was given the agency.

"Out of the N58.4billon budgetary proposal for 2025, N12.2billion is earmarked for personnel cost, N24.7billion for overhead cost and N21.4billion for capital expenditure, " he explained.

After consideration of budgetary proposals of the agency the joint committee accordingly approved it through voice vote put to members.

Earlier before approval of the agency's 2025 budgetary proposals, the Chairman of the joint Committee, Senator Dandutse Muntari harped

"We will examine NELFUND's financial plan for the upcoming fiscal year to evaluate its alignment with national educational goals and its capacity to meet the growing demands for student loans.

“This is because the agency plays an indispensable role in bridging financial gaps for students across our tertiary institutions," he added Meanwhile, the Senate Committee on Capital Market, yesterday rejected the 2025 budget proposal of the Investments and Securities Tribunal due to errors in the figures and items presented.

Chairman of the Committee, Senator Osita Izunaso, took the decision after a motion moved by Senator Seriake Dickson (PDP-Bayelsa) and seconded by Senatoe Aliyu Wadada (SDP-Nasarawa), during the agency's budget defence by the Chairman, Amos Azi.

Izunaso directed the chairman to return on Friday by 12 noon to re-present the budget. Moving the motion, Dickson said:

"Mr. Chairman, if you permit, that with the grilling that they have seen, he has also publicly, on behalf of his team, owned up to the shortcomings and errors.

"Therefore, Mr. Chairman, at any point that pleases you, I think they can return back to correct whatever has to be corrected and meet with the leadership of this committee."

The chairman of Investments and Securities Tribunal, Mr. Amos Azi after the grilling by the lawmakers

Earlier, Izunaso said the Investment and Securities Tribunal played a critical role in resolving disputes arising from transactions in the capital market.

He said: “With a mandate to exclusively resolve these disputes, the tribunal has provided comfort and confidence to investors, thereby promoting the growth and development of our capital market.

“In recent years, the tribunal has made significant strides in resolving disputes. Notably, it has resolved disputes worth over N1 trillion since its inception in 2003.

Airtel Nigeria Backs Tariff Adjustment, Says it Will Improve Service

Amid public rejection of the 50 per cent hike in telecoms tariff that was recently approved by the Nigerian Communications Commission (NCC), Airtel Nigeria has further explained the need for the tariff adjustment and has expressed gratitude to the NCC for the approval.

The Chief Executive Officer of Airtel Nigeria, Mr. Dinesh Balsingh, who expressed the company’s appreciation of the decision to allow for a tariff increase of up to 50 per cent across services, stated the development underscores the regulator’s commitment to fostering sustainability and enhance investment in the telecommunications industry for superior service delivery.

According to him, “the tariff adjustment reflects a balanced approach to ensuring the sustainability

Quality

of the telecommunications sector while safeguarding the interests of consumers."

He added that the price increase which was highly needed for the survival and continued growth of the industry, would enable telecoms operators to continue investing in network infrastructure, expanding coverage, and delivering improved products and services that meet the evolving needs of customers.

Airtel Nigeria remains committed to its mission of bridging the digital divide by offering reliable and affordable telecommunications services. With Nigeria’s vibrant economy and dynamic population, the company believes the decision by NCC creates an environment conducive to innovation and growth, benefiting consumers and the industry alike, Balsingh said in a statement.

Adelabu Defends N8bn Budgetary Proposal for ‘Advocacy’ against Power Assets Vandalism

Says fund will be used for engaging local vigilance groups, others

Emmanuel Addeh in Abuja

The Minister of Power, Chief Adebayo Adelabu, yesterday reacted to the controversy surrounding the N8 billion funding allegedly proposed to ‘convince Nigerians to pay their electricity bills’, explaining that the budgetary proposal was meant for advocacy, education, enlightenment and provision of technology to protect power infrastructure.

Besides, the minister said that part of the fund will be spent on engaging local security men to protect such assets as well as showing Nigerians why they should protect and take ownership of power infrastructure and other national assets.

A statement in Abuja by the Special Adviser to the Minister on Strategic Communications and Media Relations, Bolaji Tunji, said that the Distribution

Companies (Discos) were capable of recovering debts owed them and therefore would not require the minister's preaching.

“Far from what is being canvassed, the federal government is deeply worried about acts of sabotage that have continued to erode the gains made in the last one and half year in electricity supply to Nigerians.

“It is important to correct the impression that N8 billion is being proposed for sensitisation on electricity payment. We are all aware that in the last few months, acts of vandalism have continued to throw different parts of the country into darkness.

“Vandals have planted bombs under power towers, carting away power lines and cables, the recent one being the vandalism of underground cables that has thrown many parts of Abuja into darkness. It is therefore important

to protect the power infrastructure,” Adelabu said.

He explained that the advocacy would entail sensitisation across the 774 local governments and 36 states and Abuja and would entail the use of electronic platforms such as radio and television and others.

“It would also require the engagements of the different community stakeholders across the geo-political zones in town hall meetings; engaging local security men to protect such assets.

This would also involve the deployment of technology to safeguard these assets,” the minister added.

He disclosed that it is currently costing the Transmission Company of Nigeria (TCN) over N9 billion to bring back the transmission towers and lines destroyed by terrorists on the Shiroro-Mando-Kaduna line.

The incident recently threw sub-

stantial parts of northern Nigeria into darkness, and up until now, the federal government is yet to complete work on the lines due to the activities of bandits who have continued to stagnate efforts to repair them.

“It is our belief that the advocacy we are proposing should be able to redirect the minds of those who are bent on taking us backward in our effort to provide efficient, effective, and uninterrupted electricity to Nigerians. Only last weekend, almost half of Abuja was thrown into darkness as a result of the activities of the vandals.

“The history of vandalism of the nation’s power infrastructure is legendary. However, in recent years, it has escalated and in the past year, it has continued to increase at an alarming rate. We have suffered sustained and more violent attacks on our infrastructure.

Sunday Aborisade in Abuja

Emma Okonji

Vice President Kashim Shettima (middle) with Director-General, World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala (2nd from right); Minister of Industry, Trade and Investment, Dr Jumoke Oduwole (far right) and Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun (far left), during the Financial Times Global Risk Roundtable at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland..... yesterday

in Abuja

LAUNCH OF THE NESG 2025 MACROECONOMIC OUTLOOK...

L-R: Chief Economist and Director of Research and Development, Nigerian Economic Summit Group (NESG), Dr Olusegun Omisakin; Anchor, Business Week, Arise News, Mrs. Rolake Akinkugbe-Filani; Chairman, NESG, Mr Niyi Yusuf; Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele; Founder, The Money Wit Club, Mrs Ola Oladele; CEO, NESG, Dr Tayo Aduloju; and Senior Economist for Nigeria, World Bank Group, Dr. Samer Naji Matta, at the launch of the NESG 2025 Macroeconomic Outlook in Lagos ... yesterday.

Transcorp Power Grows Revenue to N305.9bn, Proposes

James Emejo in Abuja and Kayode Tokede in Lagos Transcorp Power Plc, yesterday announced a 115 per cent revenue growth from N142.1 billion in the 2023 to N305.9 billion in 2024.

The company's Profit After Tax (PAT) also surged by 165 per cent to N80 billion in the review period, compared to N30.2 billion in the previous year, further demonstrating strong operational leadership and strategic execution.

The performance represented a significant milestones in its financial performance last year, signalling further robust growth in revenue and profitability.

This was contained in its latest audited results, released to the Nigerian Exchange (NGX) on Thursday.

Gross profit also rose significantly by 89 per cent to N142.2 billion from N75.4 billion in 2023.

The financial results further showed that following the complete repayment of its USD loan, the company’s gearing ratio reduced significantly from 64.48 per cent at the end of 2023 to 29.70 per cent in 2024, indicating improved financial stability.

Further demonstrating its commitment to shareholder value, the board has proposed a final dividend of N3.50 kobo per ordinary share, which when combined with the Interim dividend of N1.50k paid at half-year, brings the total dividend for the review year to N5.00k per ordinary share.

This dividend payout highlights the company’s strong financial position and reaffirming its dedication

to rewarding shareholders for their continued support and investment.

Moreover, return on assets increased to 20.17 per cent in 2024 from 13.53 per cent in December 2023 while return on equity grew to 63.19 per cent in from 52.25 per cent in 2023, demonstrating efficient income generation from equity.

Commenting on the results, Chairman, Transcorp Power, Mr. Emmanuel Nnorom, emphasised the company’s focus on stakeholder value.

He said, “Transcorp Power has become one of Nigeria's most formidable power operators, committed to bridging the energy gap in the country and contributing to the nation’s economic growth.

"This financial performance reflects our unwavering commitment to our shareholders and stakeholders. We remain steadfast in our pursuit of value creation and assure our investors of continued robust returns.

"I am proud of how our organisation faced and responded to a particularly challenging market and macroeconomic environment and our future is bright.”

Chief Executive, Transcorp Power, Mr. Peter Ikenga, attributed the results to the company’s strategic investments and a deliberate focus on enhancing operational efficiencies.

He said, “Transcorp Power is dedicated to financial discipline and delivering unparalleled value to our stakeholders.

"Since our public listing, we have maintained consistent growth across all financial metrics, aligning with our mission to deliver value. We are confident in our ability to sustain

this trajectory of success.”

Transcorp Power, an electricity generating subsidiary of Transnational Corporation Plc (Transcorp Group), is a leading, listed African conglomerate.

N37.5bn

The company has reaffirmed its commitment to improving electricity supply in Nigeria and together with Transafam Power Limited contributes over 20 per cent of the country's installed power capacity.

Dividend

It is creating value across Nigeria and driving economic growth, demonstrating its mission to improve lives and transform Africa, as part of Transcorp Group’s integrated energy strategy.

Transcorp Group companies operate the 972 MW gas-fired Ughelli Power Plant and the 966 MW gas-fired Afam Power Plant, with total joint installed capacity of approximately 2,000 MW.

Shettima, Sultan, Abdulsalami, Atiku, Others to Attend Strengthening Nigerian Democracy Conference in Abuja

Otive

Igbuzor: Confab to reignite hope, rebuild trust, lay out strengthened democratic roadmap

Adedayo Akinwale in Abuja

Vice President Kashim Shettima, former head of state, Gen. Abdulsalami Abubakar, Sultan of Sokoto, Muhammadu Sa'ad Abubakar, former Vice President Atiku Abubakar, presidential candidate of Labour Party in 2023 elections, Peter Obi, his New Nigeria Peoples Party counterpart, Rabiu Kwankwaso are billed to attend the “Strengthening Nigerian Democracy” in Abuja.

Other dignitaries expected at the conference are: the Secretary to the Government of the Federation (AGF), Senator George Akume, National Chairman of All Progressives Congress (APC), Dr. Abdulahi Ganduje, the Attorney General of the Federation, Lateef Fagbemi, among others are also expected to grace the occasion.

The conference scheduled for Monday 27th and Tuesday 28 January is being organised by the African Centre for Leadership, Strategy & Development (Centre

Benue Govt, Presidential CNG Initiative, AAZARAT Energy to Set up Conversion Centre in Makurdi

George Okoh in Makurdi

The Benue Investment and Property Company Limited (BIPC) is to go into a strategic partnership with the Presidential CNG Initiative (Pi-CNG) and AAZARAT ENERGY to set up a Compressed Natural Gas (CNG) station and a CNG conversion centre in Makurdi, the state capital.

Group Managing Director/CEO of BIPC, Dr. Raymond AsemakahaCFA, made the commitment when he received members of the North Presidential CNG initiative and AAZARAT ENERGY at the company's headquarters in Makurdi.

While allocating the company's

filling station located beside the corporate headquarters for the project, Dr. Asemakaha assured the company will continue to bring innovations that would transform the state economy. "We are excited to partner with PI-CNG and AAZARAT to bring this innovative energy solution to Benue State.

“The CNG station and conversion centre will not only ease the cost of transportation but also create jobs and stimulate economic growth. In fact, as part of the process, we are going to train 20 youths in the first phase of the process," said Asemakaha.

Representatives of the initiative, Suleiman Olawole, Lara Obileye and

David Idokwo, said the initiative aims to support Benue State transition to cleaner and more sustainable energy sources for transportation.

They said: "Our primary goal is to provide a cost-effective and reliable compressed Natural Gas refueling solution."

The team promised to work with the company to secure 500 CNG powered tricycles popularly known as 'keke' and buses for the state from the Presiential CNG initiative.

Bankole Olabisi, representative of AAZARAT ENERGY, in a presentation highlighted the benefits of CNG gas initiative, modular refueling units, storage, conversion etcetera.

LSD), Centre for Democracy and Development (CDD), Westminster for Democracy (WfD), Peering Advocacy and Advancement Centre in Africa (PAACA) and National Peace Committee.

Addressing a press conference on behalf of the CSOs, the Founding Executive Director, Centre LSD, Otive Igbuzor, said despite decades of democratic practice, the realities faced by Nigerians today often reflect disillusionment rather than hope.

He noted Nigeria’s democratic journey, though spanning 25 years of uninterrupted civilian rule, is beset by structural and functional flaws.

Igbuzor emphasised that the goal of the conference was to ignite a discussion aimed at tackling the pressing challenges that threaten the very foundation of democracy in our country.

He stressed these range from electoral malpractices, ineffective political parties, and weakened governance structures to pervasive

corruption and a concerning erosion of public trust.

He noted that as conveners, they are committed to addressing the complexities and setbacks Nigeria’s democratic system currently faces, with the purpose of finding actionable solutions that can restore and strengthen our national governance.

Igbuzor stated: “The very purpose of the conference lies in a vision for a democracy that is genuine, resilient, and inclusive.

As many of us know, Nigeria’s democratic journey, though spanning 25 years of uninterrupted civilian rule, is beset by structural and functional flaws.

“Despite decades of democratic practice, the realities faced by Nigerians today often reflect disillusionment rather than hope.

The goal of the conference, therefore, is to reignite hope, rebuild trust, and lay out a road map toward a strengthened democratic system that serves all Nigerians with integrity and accountability.

“First, we recognize an urgent need for democratic reforms. At the heart of our democratic challenges lies the pressing requirement for a political environment free of manipulation, imposition, and exclusion.

“For too long, the political landscape in Nigeria has been dominated by elite cliques, leaving citizens feeling alienated from the governance processes that directly impact their lives.”

Igbuzor added that the aim of the conference is to initiate reform efforts that would strengthen the country's electoral process and ensure that the leadership selection process is credible.

He stressed that other objectives of the conference are to mobilise and strengthen political parties. Igbuzor pointed out that political parties are the bedrock of any democracy, yet in Nigeria, they often fall short of the ideals of transparency, accountability, and responsiveness.

Transportation: Alkali Assures New NRC MD of Level Playing Ground

The Minister of Transportation, Senator Said Ahmed Alkali, has assured the newly appointed Managing Director of Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, of his ministry's support in the realisation of the Renewed Hope Agenda of the present administration.

Receiving the new NRC Boss who formerly reported to the supervising ministry, the minister charged him to bring his wealth of experience and expertise to bear in the sector.

According to Alkali, President Bola Ahmed Tinubu has made a

right choice with the appointment of a seasoned and astute administrator in the person of Dr. Kayode who was former Commissioner for transportation in Lagos state during the administration of Babatunde Raji Fashola and also served as transport Secretary for the Federal Capital Territory in the immediate past administration. It could be recalled that 0peifa succeeds Mr. Ben Iloanusi who was acting Managing Director following the retirement of former M.D, Engineer Fidet Okhiria after completing his second four-year tenure on 18th October, 2024.

While fielding questions from newsmen shortly, the new M.D

assured that having followed keenly the vision of President Tinubu's Renewed Hope Agenda and the unwavering commitment of the transportation minister, his appointment will enable him contribute his quota towards actualizing the ongoing railway modernisation projects across the country.

"I see my appointment as a rare privilege to serve Nigeria and to work with Mr. President in transforming the rail transport system which is listed as one of the eight (8) Priorities and also to work with the minister in delivering the sound policies of the Federal government as it relates to the transportation industry", he concluded.

Kasim Sumaina in Abuja

PHOTO: ETOP UKUTT

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IBB Set to Release Long Awaited Memoir, ‘A Journey In Service’, 32 Years After Office

Tinubu, Obasanjo, Buhari, Gowon, Jonathan, Nana Akufo-Addo, Osinbajo, Danjuma to

Chuks Okocha in Abuja

Former military president, Ibrahim Badamasi Babangida (IBB), is set to launch his long-awaited memoir, 32 years after leaving office.

The memoir, titled, “A Journey In Service,” will be released on February 20 at the Congress Hall, Transcorp Hilton Hotel, Abuja.

The regime of IBB was defined by many events, including the Structural Adjustment Programme (SAP), which sparked a nationwide riot, among other economic regulations.

There was also the unresolved murder of the veteran journalist, Dele Giwa, among other controversial issues.

The IBB era climaxed with the annulment of the June 12, 1993 presidential election.

While in office, he was popular

with the moniker “Evil Genius” and “Maradona”, even though his administration was also noted for a good balancing of the federal character in terms of appointments.

Explaining the nicknames, IBB said they were manufactured by the media because of his “deft political moves,” adding, “That’s the very good thing about the Nigerian media and Nigerian people, you have to anticipate them.

“If you anticipate them, then you live well with them. They call me ‘evil genius’, I marvel at that. The contradiction, you can’t be evil and then a genius.

“The definition of Maradona I got from the media is because of deft political moves. That’s the way the media described it.”

Babangida succumbed to pressure in August 1993 and “stepped aside”

for the late Ernest Shonekan, who headed the then Interim National Government.

The late General Sanni Abacha would, however, topple the government before he died in office in 1998.

Although IBB had granted interviews to local and international media since leaving office, he had somehow found a way around some of the contentious issues that happened during his regime.

Some seven years ago, he expressed doubts about writing an autobiography, and said he was uncertain if Nigerians would “want to read about a dictator”.

He added that the public had a wrong impression of him, citing his role in the June 12 crisis, and some of the policies he introduced between 1985 and 1993, when held sway

He later made a U-turn and

WALE EDUN: WHY NIGERIA DOES NOT NEED IMF LOANS

with global standards, and building a more transparent and resilient financial sector.

relatively cheaper borrowing sources from the World Bank and the African Development Bank (AfDB).

authored the book.

President Bola Tinubu will lead former Nigerian leaders and their counterparts in other parts of Africa to grace the launch of the memoir.

According to an invite dispatched to dignitaries this week, the board of trustees of the IBB Presidential Library Foundation said the book launch would take place alongside fundraising for a presidential library.

The organisers said the event would be chaired by former President Olusegun Obasanjo, with Tinubu as the special guest of honour.

The keynote address would be delivered by former President of Ghana, Nana Akufo-Addo, while former Vice President Yemi Osinbajo would review the memoir.

Other guests billed to attend the book launch included ex-presidents

IMF financing, typically financing from the IMF is to help with short-term balance of payments issues and crises.

grace event

Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, yesterday explained why Nigeria has no reason to approach the global lender, the International Monetary Fund (IMF), for any loans, contrary to insinuations that the country could seek help from the Bretton Woods institution soon.

Besides, the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday disclosed that the bank was set to establish a compliance department by February to address past challenges, aligning

These came on a day the global consulting firm, PricewaterhouseCoopers (PwC), projected a 3.3 per cent growth for the Nigerian economy, driven by sustained policy reforms in 2025.

The firm also predicted a relatively stable economy marked by exchange rate stability supported by the CBN reforms in the FX segment which are expected to boost capital inflows.

But speaking with Arise Television on the sidelines of the ongoing World Economic Forum (WEF) in Davos, Switzerland, Edun explained that Nigeria is currently relying on

TINUBU: ENHANCING WELFARE OF MILITARY OFFICERS, MEN PARAMOUNT TO MY GOVERNMENT

marks the start of a construction project and the foundation of a renewed commitment to our military and the values we hold dear as a democracy.

“On this occasion, we open a new chapter in our nation's commitment to ensuring the safety and security of our people. As your Commander-in-Chief, I pledge to support our troops and their families.

"Under our Renewed Hope Administration, I reaffirm my commitment to building a well-equipped and truly professional military that embodies our nation's pride.”

Tinubu added, “I want to use this moment to personally commend the remarkable efforts of our armed forces under the leadership of the CDS, General CG Musa, who stands guard with the service chiefs and men against the evil forces that seek to retard our cherished peace and development.

“Your dedication, courage, and resilience protect our freedoms and uphold the very principles upon which our nation was founded."

Commenting on the significance of the Defence Complex, Tinubu stated, “As we break the ground on this Armed Forces Complex, let it symbolise our nation's respect and admiration for your unwavering service and our dedication to providing the resources you need to function better.

“This edifice, when completed, will not only stand as a centre of loyalty but a national monument that every Nigerian would be proud of. It will be a hub of excellence, re-energising able leaders, who are committed to the safety of our citizens."

The president also emphasised the importance of locally produced military equipment to enhance domestic defence capabilities.

According to him, "I am particularly proud to share that our efforts in developing a military-industrial complex have begun to yield positive results.

“These initiatives, driven by significant research and development by the Defence Industries Corporation of Nigeria, the Command Engineering Depot of the Nigerian Army, and private entities, such as EPAIL and

ProForce, have enhanced our domestic defence capabilities.

“Thus, with great pride and pleasure, I announce the assembly of these displayed Tactical Mine Resistant Ambush Protected (MRAP) Vehicles and Armoured Personnel Carriers (APC) produced in Nigeria.

“They testify to the advancement made in our defence sector. These vehicles will not only boost our armed forces' operational efficiency but will also enhance our economy."

Tinubu called on Nigerians to come together and work towards a brighter future for the country. He stated that the ground-breaking event, coming on the heels of the Armed Forces Remembrance Day, was an enduring honour, especially to those who had laid down their lives or had been wounded for the peace and security of Nigeria.

He promised that the first phase of the complex would be completed within the lifetime of his administration.

Earlier, Musa said a new state-ofthe-art facility for the armed forces had become imperative because the Garki headquarters, which was initially designed as a temporary office, had become inadequate for their operations.

He said the new facility would serve as a beacon of excellence and a symbol of dedication and modernisation of the Nigerian armed forces.

Chief of Army Staff, Lieutenant General Olufemi Oluyede, thanked the president for his continued support for the army and the armed forces, assuring him of their loyalty and commitment to the nation.

Equally in attendance at the events were Deputy Senate President, Senator Jibrin Barau, representing the senate president; Speaker of the House of Representatives, Honourable Tajuddeen Abbas; Senator Ahmad Lawan; and Minister of Defence, Alhaji Abubakar Badaru.

There were also Minister of Information and National Orientation, Mohammed Idris Malagi; National Security Adviser, Mallam Nuhu Ribadu; Chief of Staff to the President, Hon. Femi Gbajabiamila; the service chiefs; and top members of the military hierarchy.

Besides, he argued that Nigeria does not have a balance of payments problem and therefore will not need the short-term financing intervention by the international bank.

“I can imagine the headlines if you saw a situation whereby you were saying Nigeria approaches the IMF for funding. But the reality is that, of course, as a developing country, requiring investment, requiring funds for the government, for investment in key infrastructure to improve the enabling environment for business, we do need funds, and we have the need to borrow.

“We have relied on relatively cheap funding from the multilaterals, from the World Bank, from AFDB, and the whole spectrum of funding has been used. We have relied on Nigerian savings by convincing them of the macroeconomic plan of the president, and what it holds in terms of the prospects for growth of the economy and business, and improvement of the business environment.

“And, of course, we have approached the Euro bond market, which is, of course, the commercial end of financing. So we've done that whole spectrum. When it comes to

“In the case of Nigeria, we have a positive trade balance. We have a positive current account balance. Our reserves are growing. The Governor of the Central Bank recently announced that we had achieved upwards of $10 billion improvement and increase in the reserves.

“ In such a case, funding by the IMF is not the appropriate source. And where we are now is that having utilised multilateral financing, concessional financing as much as possible, now we need to optimise our assets.

“We need to use equity. We need to rely on crowding in the savings, particularly of the private sector in Nigeria and the private sector around the world in the form of foreign direct investment. We have to remember that at this time, we have had significant gains in terms of improving the economic environment,” Edun stated.

However, he admitted that food inflation and the cost of living remain in the high side, explaining that beyond restricting demand to cut inflation, the supply side also needs to be boosted.

“However, we also admit and we confront fully the fact that inflation is relatively high. Cost of living is high. Cost of food is high. And that is the the

focus of Mr. President's determination in terms of what to tackle next. It is the high rate of inflation, of course, led by the Central Bank, which controls the monetary tools, interest rates in particular. But also, inflation is not just for the monetary side.

“Inflation is a fight for all of us.

And on the fiscal side, there is much to be done in increasing the supply.

If you want the price of a good to go down, it's not just a question of restricting demand.

“It's also a question of increasing supply. And in particular, as has happened during this dry season harvest, which is going on in Nigeria, with concerted efforts to provide the smallholders in particular with the various inputs, herbicides, fertiliser, seeds, we are having a good harvest, but more needs to be done there.

“And there's a commitment to increasing food production, so achieving lower price of food, more availability and affordability of food for Nigerians, that is a major commitment, alongside growing the economy as a whole,” Edun pointed out.

The minister argued that Nigeria was gradually turning the corner, stressing that the economy of last year is different from the one this year, because the needed reforms have been largely implemented and we're

beginning to yield results.

“The economy is growing again. The foreign reserves are building up. The debt servicing as a percentage of revenue is down, and likewise, also the deficit, debt as a percentage of Gross Domestic Product (GDP) is going down. So we're in a much better place in terms of the investment environment,” the minister added.

According to him, the delegation from Nigeria led by the Vice President to Davos, has had conversations with business concerns which will result in billions of dollars of investments in Nigeria, especially those from people in the financial payments sector, fastmoving consumer goods sector, and major international companies.

“And already they've indicated that under the improved foreign exchange regime, under the improved investment climate, they are ready and willing to make these investments now.

“And we have a number of other bilateral meetings lined up to talk to investors who we hope are going to be making their decisions to invest in the Nigerian economy, create jobs, grow the economy, and help reduce poverty in our country,” the minister observed.

Besides, he stated that at the moment,

Continued on page 28

ATIKU, AKPABIO, WIKE SALUTE THISDAY NEWSPAPERS ON ITS 30TH ANNIVERSARY

era of modern journalism in Nigeria.

THISDAY was founded on January 22, 1995 and has since emerged one of Nigeria's most preferred newspapers. Three decades later, it has been characterised as Nigeria's most robust and influential newspaper by various segments of its readership, including the corporate elite, politicians, and the diplomatic corps.

Atiku said, “I have been a fan of the THISDAY Newspaper since its debut in 1995 and it is fitting to honour the newspaper for the leading role it played in the return of democratic rule in Nigeria, even though THISDAY was at its infancy in those times.

“Also in the post-military era, the THISDAY Newspaper continues to hold leaders to account, while also establishing itself as a tabloid of choice for the people.

“I warmly congratulate THISDAY on the milestones it has achieved in the first 30 years in the pursuit of ‘Truth and Reason’ and the promotion of ‘Free Enterprise and Justice’ and hope that the newspaper will sustain the tempo of robust journalism in Nigeria and globally.”

Akpabio also congratulated THISDAY, in a statement by his Special Adviser on Media and Publicity, Hon. Eseme Eyiboh.

Akpabio highlighted THISDAY's dedication to factual reporting, in-depth analysis, and thoughtprovoking discussions, which he said had earned it a well-deserved reputation as a trusted source of news and information in Nigeria.

He praised the media outlet for its commitment to promoting transparency, accountability, and good governance in the country.

"Your efforts have not only informed and educated the public but have also contributed significantly to the growth and development of our democracy," Akpabio stated, reaffirming the importance of a free and independent press in a democratic society.

He added, "We recognise the crucial role that the media plays in holding those in power accountable and promoting the values of democracy, human rights, and the rule of law."

Wike extended his felicitations to the newspaper while receiving his letter of nomination as THISDAY/ Arise Group Minister-of-the-Year.

The former Rivers State governor, in a statement in Abuja, expressed gratitude to the newspaper and its sister global television news network, Arise TV, for finding him worthy to be nominated for the award.

He stated, “We thank THISDAY/ Arise Group for this nomination. We appreciate it and we thank Mr President for giving us the opportunity, because without the opportunity he has given us, nobody would have spotted our efforts for this recognition. He gave us the opportunity to showcase ourselves, that's why you were able to see our efforts.

“We wish THISDAY a happy 30th birthday. To survive in business for 30 years is not easy. To also survive for 12 years with Arise is not easy.

“We congratulate you. You are competing very well with most of the best media platforms in the world and nobody can write you off.”

In a similar vein, Managing Director of THISDAY Newspapers, Eniola Bello, in an interview on Arise

Television yesterday, reaffirmed the media company's enduring commitment to its founding principles.

Bello stated that over the years, THISDAY had been driven by the principles of free enterprise, democracy and social justice. He praised the high flying staff of the organisation who had ensured the news outlet thrived for three decades.

Bello recalled a time when the editors of the newspapers survived a plane crash; when the headquarters of the newspapers in Lagos was burnt; and when THISDAY offices in Kano and Kaduna were attacked over the Miss World riots in 2002.

He also highlighted when Boko Haram extremists bombed the headquarters of the newspapers in Abuja as one of the darkest moments in the history of the company.

“So, we have gone through a lot of things that if we did not have a solid foundation we would not been where we are today. Despite all the challenges we have gone through, we are still standing strong,” he added.

Looking ahead, Bello stressed that THISDAY will continue to build on its strengths, including its capacity to break big stories, bring on board innovations, adapt to new technologies, as well as remain flexible in adapting to the business environment.

THISDAY Alumni Association joined in celebrating what it tagged THISDAY Newspapers' remarkable milestone of 30 years of exceptional journalism, innovation and impact.

In a congratulatory message signed by the association’s president, Dr. Tony Onyima, the group also hailed Obaigbena, the board, management, and staff of THISDAY for their vision-

ary leadership and commitment to excellence. According to the alumni association, these qualities have positioned the newspaper as a towering symbol of integrity and innovation in the media industry.

The group stated, “Over the past three decades, THISDAY has not only redefined the standards of journalism in Nigeria, but has also become a beacon of hope, truth, and courage. It is a source of pride for those of us privileged to have contributed to this iconic institution, whose ground-breaking stories and bold front pages have shaped public discourse and influenced societal change.”

The association lauded THISDAY’s resilience in the face of challenges, and its relentless pursuit of editorial independence, investigative depth, and impactful storytelling. It also commended the contributions of past and present journalists, editors, designers, administrators, and technical staff, who had driven the newspaper’s success.

“As THISDAY steps into its fourth decade, we are confident it will continue to inspire and set new benchmarks in journalism, maintaining the legacy of excellence for which it is celebrated,” Onyima added, in the statement.

THISDAY Alumni Association, comprising the newspaper’s former employees, reaffirmed its pleasure in the institution's role in shaping the media landscape and the professional lives of its alumni.

The association wished THISDAY Newspapers continued success in its journey of informing, inspiring, and influencing for decades.

Muhammadu Buhari and Goodluck Jonathan, as well as ex-heads of state Yakubu Gowon and Abdulsalami Abubakar.

Former Minister of Defence, Theophilus Danjuma, and Chairman of BUA Group, Abdul Samad Rabiu, were named as Chief Launchers.

Babangida

Emmanuel Addeh, James Emejo in Abuja and Nume Ekeghe, Esther Oluku in Lagos

RC 1067143

NOTICE OF ANNUAL GENERAL MEETING OF TRANSCORP POWER PLC

that the 12th Annual General Meeting ( AGM”) of Transcorp Power Plc (“the Company”) is

NOTICE IS HEREBY GIVEN

scheduled to hold on Tuesday, Februar y 25, 2025, at Transcorp Hilton Abuja, 1 Aguiyi Ironsi Street, Maitama, Abuja, at 10.00

a.m., to transact the following businesses:

ORDINARY BUSINESS

1. To lay before the members, the Audited Financial Statements of the Company for the year ended December 31, 2024, together with the Repor ts of the Directors, Auditors and Audit Committee thereon.

2. To declare a dividend.

3. To approve the appointment of Mr. Christopher Ezeafulukwe as a Director of the Company

4. To re-elect the following Directors retiring by rotation:

4.1 Mr. Emmanuel Nnorom;

4.2 Dr. Mrs. Owen D. Omogiafo OON; and

4.3 Mr. Adim Jibunoh

5. To authorise the Directors to fix the remuneration of the Auditors for 2025 financial year

6. To disclose the remuneration of Managers of the Company

7. To elect members of the Statutory Audit Committee.

SPECIAL BUSINESS

8. To consider and if thought fit, pass the following as ordinar y resolutions:

8.1 “That the remuneration payable to Directors for the year ending December 31, 2025 be and is hereby fixed at the sum of

₦50,000,000 (Fifty Million Naira) only for each Non-Executive Director save the Chairman, whose remuneration for the same period shall be fixed at the sum of ₦75,000,000 (Seventy-Five Million Naira) only such payment to be effective from Januar y

1, 2025.”

8.2 “That the Company be and is hereby authorised to invest in, acquire, or divest from any business and/or carr y out as the Directors may deem appropriate and in accordance with any relevant laws, any actions, including but not limited to restructuring, reorganization, reconstruction and such other business arrangement exercise or actions.

8.3 “That subject to regulator y approval (where necessar y), the Directors, be and are hereby authorised to take all steps and do all acts that they deem necessary in fur therance of the resolution 8.2 above, including but not limited to executing and filing all such forms, document or information with the appropriate authorities, as may be required; appointing professional advisers and par ties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate.

8.4 “That in compliance with the Rule of the Nigerian Exchange Limited governing transactions with related par ties or interested persons, the Company, and its related entities be and are hereby granted a general mandate in respect of all recurrent transactions entered with a related par ty or interested person provided such transactions are of a revenue or trading nature or are necessar y for the Company's day-to-day operations. This mandate shall commence on the date on which this resolution is passed and shall continue to operate until the date on which the next Annual General Meeting of the Company is held.

9. To consider and if thought fit, pass the following as special resolutions:

9.1 “That in keeping with the post-listing obligations of the Company:

9.1.1 The Company's Memorandum of Association be, and is hereby amended by adding a new section 3 (AI) to read as follows:

“The Company will not act or carr y on business as a stockbroker or dealing member of the Nigerian Exchange Limited”

9.1.2 The Company's Ar ticles of Association be, and are hereby amended as follows:

a. Powers to Issue Different Classes of Shares

Inser t new ar ticle (4 ) to read as follows:

“(4) Where the Company desires that its securities be classified under investment /unit trust section of the Official List of the Nigerian Exchange Limited, all monies realized on the sale or payment of the same and all other monies in the nature of accretion to capital shall be treated for all purposes as capital monies, and not as profits available for dividend”

b. Share Transfer

That existing ar ticles 1 and 5 be amended to respectively read as follows:

“(1) Shares may be transferred by means of an instrument of transfer in any usual form, including electronic transfer or any other form permissible under the law, which is executed by or on behalf of the transferor ”

“(5) There shall be no restriction on the right to transfer shares, except as prescribed by operation of law ”

c. Notice by Adver tisement

Inser t new ar ticles as follows:

(1) “Where power is reser ved to give notice by advertisement, such adver tisement shall be inser ted in at least two leading national daily newspapers”

(2) “A notice may be given by the Company to any member physically, electronically, by sending it by post to him or to his registered address; or where he has no registered address within Nigeria, to the address, supplied by him to the company for the giving of notice to him”

9.2 “The Directors, be and are hereby authorised to take all steps and do all acts that they deem necessary in fur therance of resolutions 9.1.1 and 9.1.2 above.

Dated this 23 day of Januar y 2025.

BY ORDER OF THE BOARD

Ms. Atinuke Kolade

Group Company Secretary FRC/2019/PRO/NBA/002/00000019306

PROXY

Any member of the Company entitled to attend and vote at this meeting is also entitled to appoint a proxy to attend and vote in his/her stead. A proxy need not be a member of the Company. For the appointment of the proxy to be valid, a proxy form must be completed and deposited either at the office of the Company's Registrar Africa Prudential Plc 220B Ikorodu Road, Palmgrove, Lagos, or via email at corporatemeetings@africaprudential.com not later than 48 hours before the time

fixed for the meeting. A blank proxy form is attached to the Annual Repor t and may also be downloaded from the Company's website at www. transcorppower com.

LIVE STREAMING OF AGM

The AGM will be streamed live via the Company's website www transcorppower com

DIVIDEND

If the dividend recommended by the Directors is approved by the shareholders at the AGM, dividend will be paid on Tuesday March 11, 2025, to the shareholders whose names appear in the Company's Register of Members at the close of business on Tuesday Februar y 11, 2025.

CLOSURE OF REGISTER

The Register of Members of the Company will be closed from Wednesday, Februar y 12, 2025, to Wednesday, Februar y 19, 2025, (both dates inclusive) for the purpose of dividend payment and updating the register NOTIFICATION OF AUDIT COMMITEE

In accordance with Section 404(6) of the Companies and Allied Matters Act, 2020 (CAMA), any member may nominate a shareholder for election as a member of the Statutory Audit Committee by giving notice in writing of such nomination to the Company Secretar y at least 21 days before the AGM. CAMA fur ther provides that members of the Statutory Audit Committee should be financially literate.

E-DIVIDEND REGISTERATION

Notice is hereby given to all shareholders who have not done so, to open bank accounts, stockbroking accounts and CSCS accounts for the purpose of receiving dividend payments electronically. A detachable application form for e-dividend is attached to the Annual Repor t to enable all shareholders furnish par ticulars of their accounts to the Registrar as soon as possible.

PROFILES OF DIRECTORS FOR APPOINTMENT AND RE-ELECTION

The profiles of Mr. Christopher Ezeafulukwe seeking appointment as a Director of the Company; and Mr Emmanuel Nnorom and Dr Mrs. Owen D. Omogiafo, OON who will be retiring by rotation and will be presented for re-election, are amongst the profiles of Directors that are provided in the 2024 Annual Repor t and on the Company's website at www transcorppower com.

E-ANNUAL REPORT PUBLISHED ON THE WEBSITE

In order to improve delivery of our Annual Repor t, we have inser ted a detachable form in the 2024 Annual Repor t and hereby request shareholders to complete the form by providing their contact and any other requested details and thereafter return same to the Registrars for fur ther processing. Additionally an electronic version of the 2024 Annual Repor t is available on the Company's website at www transcorppower com.

NO VOTING BY INTERESTED PARTIES

In line with the provisions of Rule 20.8 (2)(h) Rules Governing Related Par ty Transaction of Nigerian Exchange Limited, interested persons have under taken to ensure that their proxies, representatives, or associates shall abstain from voting on resolution 8.4 above. RIGHTS OF SHAREHOLDERS TO ASK QUESTIONS

Shareholders have a right to ask questions not only at the Meeting, but also in writing prior to the Meeting, and such written questions must be submitted to the Company on or before Monday Februar y 24, 2025.

ON TUESDAY FEBRUARY 25, 2025, AT THE IMO/RIVERS HALL, M2, TRANSCORP HILTON ABUJA, 1, AGUIYI IRONSI STREET, MAITAMA ABUJA, F C T AT 10:00AM

RESOLUTIONS FOR AGAINST

1 To declare a dividend

2 To approve the appointment of Mr. Christopher Ezeafulukwe as a Non-Executive Director of the Company

3 4 To re-elect Mr. Emmanuel Nnorom, a Director retiring by rotation

5 To re-elect Dr Mrs Owen D. Omogiafo, OON, a Director retiring by rotation

6 To re-elect Mr. Adim Jibunoh, a Director retiring by rotation 7 To authorise the Directors to fix the remuneration of the Auditors for the 2025 financial year 8 9 To elect members of the Statutory Audit Committee. “That the remuneration payable to Directors for the year ending December 31, 2025 be and is hereby fixed at the sum of ₦50,000,000 (Fifty Million Naira) only for each Non-Executive Director save the Chairman, whose remuneration for the same period shall be fixed at the sum of ₦75,000,000 (Seventy-Five Million Naira) only, such payment to be effective from Januar y 1, 2025.”

“That the Company be and is hereby authorised to invest in, acquire, or divest from any business and/or carr y out as the Directors may deem appropriate and in accordance with any relevant laws, any actions, including but not limited to restructuring, reorganization, reconstruction and such other business arrangement exercise or actions.”

10 11

“That subject to regulator y approval (where necessar y), the Directors, be and are hereby authorised to take all steps and do all acts that they deem necessary in fur therance of resolution 9 above, including but not limited to executing and filing all such forms, document or information with the appropriate authorities, as may be required; appointing professional advisers and par ties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate.”

“That in compliance with the Rule of the Nigerian Exchange Limited governing transactions with related par ties or interested persons, the Company, and its related entities be and are hereby granted a general mandate in respect of all recurrent transactions entered with a related par ty or interested person provided such transactions are of a revenue or trading nature or are necessar y for the Company's day-to-day operations. This mandate shall commence on the date on which this resolution is passed and shall continue to operate until the date on which the next Annual General Meeting of the Company is held.

12 That in keeping with the post-listing obligations of the Company, “The Company's Memorandum of Association be, and is hereby amended as listed in the Notice of AGM.

13 That in keeping with the post-listing obligations of the Company, the Company's Ar ticles of Association be, and are hereby amended as listed in the Notice of AGM.

14 The Directors, be and are hereby authorised to take all steps and do all acts that they deem necessary in fur therance of resolutions 12 and 13 above.

named

or his duly proxy to the Annual General Meeting of the company to be held on Tuesday Februar y 25 2025, at the Imo/Rivers Hall, Transcorp Hilton Abuja, 1, Aguiyi Ironsi Street, Maitama, Abuja, F C T at 10:00am.

FACTORY TOUR OF SACRAL INDUSTRY...

L-R: General Manager, Africa Business Strategy, Daikin, Middle East and Africa, Akihisa Yokoyama; Deputy Managing Director, Daikin Airconditioning, India, Shogo Ando; Chairman, Sacral Industries Limited, Bhojraj Rupani; Chairman/Managing Director, Daikin, India, Kanwaljeet Jawa; and Managing Director, Sacral Industries Limited, Rajeev Girglani, during the factory tour of Sacral Industries showcasing the production of Daikin Air Conditioners in Lagos…yesterday

Edo Governorship Tribunal Continues to Admit Evidence of Over-voting Across Many LGs

Adibe Emenyonu in Benin City

More witnesses have continued to testify, at the instance of Asue Ighodalo and Peoples Democratic Party (PDP), before the governorship election petitions tribunal sitting in Benin City, the Edo State capital.

The witnesses alleged massive irregularities in the conduct of the September 21, 2024 governorship election by the Independent National Electoral Commission (INEC) in Oredo, Ovia South West, and Esan North East.

There were also witnesses from Esan Central.

The witness from Oredo Local Government Area said the conduct of the governorship election was characterised by irregularities in some polling units in Esan North East, Oredo, Esan South East, and Esa Central local government areas.

Giving his testimony at the resumed hearing on the petition marked EPT/ ED/GOV/02/2024, the petitioners' witness and PDP Esan North East Local Government Area Collation Agent, Mr. Igbarase Matthias, prayed the tribunal to admit his statement on oath, which he deposed to on October 11, 2024 in support of the

petitioners' case

The 54-year-old claimed that there was over-voting in polling unit 011, and added that he was aware that the uploading of results into the IREV took place at the polling unit level.

Upon cross-examination by the lead counsel to the first respondent (INEC), Kanu Agabi, the witness said he made his deposition on October 11, 2024 while the screenshots of INEC's BIVAS Report he relied on in his statement were certified by INEC on January 8, 2025.

On his part, the PDP agent for Oredo Local Government Area, Aigbe

Ighodaro Lucky, told the court that there was over-voting in 66 polling units in the local government area and incorrect scores were entered by INEC for his party in favour of All Progressives Congress (APC) during the election.

Lucky said he relied on INEC documents to arrive at his statement on oath and adopted same as evidence in the petition.

He also told the tribunal that there were no prior recordings of serial numbers of sensitive materials deployed for the election in the local government area in INEC's Form

Military Airstrikes Destroy Bandits’ Covert Enclaves at Alawa Forest

Army clarifies trending audio/visuals of alleged abandonment of soldier wounded in action

Linus Aleke in Abuja

The high command of the Nigerian Air Force (NAF), has said the Air Component of Operation Fansan Yamma (AC OPFY), recorded another resounding achievement in its counter-terrorism campaign, destroying bandits' covert and expansive enclave at Alawa Forest in Shiroro Local Government Area of Niger State.

The NAF authority also revealed that the coordinated airstrikes dismantled bandits' logistics base concealed within the expansive enclave and neutralised scores of bandit combatants in the process.

In another development, the Nigerian Army has clarified the viral audio/visual footage alleging that Lance Corporal Itodo David was abandoned at the 44 Nigerian Army Reference Hospital (NARHK) Kaduna, after sustaining life threatening injury on duty.

The military stressed that disturbing as Itodo's current situation is, the narration did not give a true picture of what transpired and therefore failed to acknowledge the untiring effort of the Nigerian Army to provide medical and psychological support for the healing of the soldier and several other ailing personnel who had received medical intervention both within and outside the country.

Meanwhile, a statement by Director, Public Relations and Information, Nigerian Air Force, Air Vice Marshal Olusola Akinboyewa, stressed that the operation, conducted on 21 January 2025, was anchored on credible intelligence and followup confirmatory aerial surveillance efforts which indicated an influx of armed terrorists into the forest.

These criminals, he said were linked to widespread violence, including two Improvised Explosive Device (IED) attacks on 19 December 2024 in Bassa, Shiroro LGA, which claimed several innocent lives.

His words: "In response, the Nigerian Air Force (NAF) launched a three-day sustained air operation, code-named, "Konan Daji," to degrade the terrorists’ capabilities and render the forest unhabitable for them.

"To this end, AC OPFY dispatched a formation of fighter aircraft to execute air interdiction missions in the area.

"Upon arrival, the jets swiftly engaged the identified targets with precision strikes, neutralising numer-

ous armed fighters and destroying their logistics base, as confirmed by multiple secondary explosions".

The NAF spokesperson said the NAF, in close coordination with ground forces, remains resolute in its commitment to maintaining operational dominance across the region.

He averred that sustained efforts are underway to eliminate all criminal elements from Alawa Forest and surrounding areas, ensuring lasting peace and security for communities in Niger State and beyond.

On the allegedly abandonment soldier wounded in action, a statement by the Director, Army Public Relations, Major General Onyema Nwachukwu, said the Nigerian

Army has received with utmost concern the very touching and pathetic story of Lance Corporal Itodo David, who was said to have been abandoned at the 44 Nigerian Army Reference Hospital (NARHK) Kaduna as narrated in a trending audio visual circulating in the social media.

According to the statement, "The narration portrayed that the soldier had sustained an injury while on a combat operation and has been left in a state of abandonment and neglect since the incident.

"Though it is not untrue that LCpl Itodo had suffered a gunshot injury back in 2015, it was successfully managed at the same 44 NARHK and was fully restored to active life.

Interior Minister Orders Reactivation of Brokendown Equipment in Atlanta, New York Consulates

Olugbode

The Minister of Interior, Hon. Olubunmi Tunji-Ojo has ordered the reactivation of broken-down equipment of the passport offices in the United States offices in Atlanta and New York.

The minister, in a statement by his spokesman Alao Babatunde on Thursday said the order was necessary following the petition from Nigerians in the diaspora on the need to fix broken-down passport equipment in Atlanta and New York Consulates in the US.

The spokesman said the minister has therefore directed the Nigeria Immigration Service to immediately

deploy new printers to the passport offices in both cities.

He said: “These printers are ready for installation. This shortterm solution aims to resolve the current challenge promptly.”

The statement read: “The minister hinted that there is a new solution being implemented as a long-term plan that will usher in a streamlined passport regime, enabling Nigerians to apply for their passports with more ease.

“Part of this plan includes the activation of the Passport Personalisation Centre in Abuja, which is scheduled to start in the next few weeks while also opening up more countries for

the already-deployed contactless solution.

“The Ministry of Interior under the Minister is working round the clock, and none of the agencies is left behind. At the Nigeria Immigration Service, for instance, there has been an end-to-end automation of the passport application process and the introduction of the contactless application process, which has since been launched in Canada.

“The minister assures that the government of President Bola Ahmed Tinubu remains committed to ensuring that Nigerians experience #RenewedHope laced with innovation and convenience while still enhancing national security.”

EC25B.

For Adekunle Oboh, PDP Local Government Area Collation Agent in Esan Central, there were irregularities in 23 polling units in the area during the election.

Oboh also told the court in his testimonies that there were no prior recordings of serial numbers of sensitive materials deployed to some polling units in the area in Form EC25B.

He said the polling units’ result sheets were signed by his party’s agents up to the ward level before he signed Form EC8C.

He admitted that all the Forms EC8A (result sheets) were countersigned by INEC presiding officers, and submitted that the documents he personally examined on the basis of his witness deposition were obtained from INEC by his party.

Wilson Ibhawa, the petitioners' Esan South East Local Government Area Collation Agent, said there was no prior recording of serial numbers sensitive materials used in the election in Form EC25B in five polling units in his area.

While raising objections to the admissibility of the documents tendered in court, counsel to the

respondents deferred their reasons to the address stage of the petition. Similarly, Destiny Enabulele, a 48-year-old development worker, who appeared as a witness in Ovia South West Local Government Area, presented by PDP, sought leave of the tribunal to correct some errors in his witness deposition before adopting same. But this did not get the approval of the respondents’ counsel, who objected. Moses Agbukor, 54, told the tribunal to disregard paragraphs 13 and 14 in his witness deposition, as it was inserted in error, which was objected to by counsel to the respondents because of the line of presentation.

Baba Odenobemhe, the sixth witness for the petitioners, also sought leave of the tribunal to correct some errors in his witness deposition before adopting same. Chairman of the three-man tribunal, Justice Wilfred Kpochi, admitted the documents oral evidence as exhibits, provisionally, pending the arguments of the respondents’ counsel in their final written address.

Kpochi adjourned sitting to today, Friday, January 24, for continuation of hearing.

Modern Bee Farming: Bauchi Governor Empowers Youths with Equipment, Cash

Segun Awofadeji in Bauchi

To empower the youth and ensure socio-economic growth of the state, the Bauchi State Government has successfully concluded a 10-day training on modern beekeeping techniques to equip participants with practical skills to embark on sustainable beekeeping ventures.

The program which promises to generate income and jobs for the youths in the state is organized by the Bauchi State SDGs Office in collaboration with Jane Pure Honey Company was held yesterday at Jolly Guest Inn, Bauchi. The training which attracted youths from across some selected local government areas of the state targets building a new generation of beekeepers.

Speaking in a remark during the ceremony, the State's DirectorGeneral of SDGs, Mrs. Lydia John Shehu, emphasized that beekeeping offers vast potential for economic growth, job creation, and long-term sustainable development in the state.

She said the beneficiaries would only be awarded completion certificates after demonstrating their ability to produce honey and

showing clear evidence that they are actively practicing the skills they acquired. According to her, this ensures that the program will have a lasting impact on the participants and the wider community.

Mrs. Lydia Shehu who used the event to call for the expansion of the beekeeping training program across all 20 LGAs in the state, sought the support of Governor Bala Mohammed, local government chairmen, and members of the House Assembly Committee on Agriculture and SDGs to ensure that the opportunity reaches more youths in the state. According to her, the Beekeeping program holds great promise for combating unemployment and contributing to the economic diversification of Bauchi State.

The Chairman of the Beneficiaries Forum, Mr. Daure David, expressed profound gratitude to the state government for the initiative. He further requested that the state government allocate land across all LGAs for the establishment of bee farms, which would provide the beneficiaries with a solid foundation for their bee-keeping enterprises.

Michael

in Abuja

LAFARGE ALLOCATE TRUCK TO CUSTOMERS...

Ex-FCT Minister, Jerry Useni, Dies at 81

A former Minister of the Federal Capital Territory, Lieutenant-General Jeremiah Timbut Useni, is dead. He was aged of 81. He died yesterday after a protracted illness.

Plateau State Governor, Caleb Mutfwang, announced the death in a statement by his Director of Press and Public Affairs, Gyang Bere. Mutfwang described Useni’s passing as a ‘tremendous loss’ to his family, the Nigerian Armed Forces, Plateau State, and the nation.

He highlighted Useni’s exemplary leadership, commitment to service, and tireless efforts to promote peace and security, particularly in Northern Nigeria and Plateau State.

The governor recounted the illustrious career of the late general, who served Nigeria with distinction in various capacities, including as Minister of Transport, Quarter-Master General of the Nigerian Army, and Minister of the FCT.

those he impacted.

Born February 16, 1943, Useni came to national limelight when he was appointed Military Governor of the defunct Bendel State in January 1984.

In 1998, he was rumored as a likely successor to the late General Sani Abacha. But Useni claimed the decision to appoint Gen. Abdulsalami Abubakar instead was based on protocol.

The Academic Staff Union of Universities (ASUU), has awarded scholarship grants of N5.8 million to 29 indigent students of the state-owned Olabisi Onabanjo University (OOU) AgoIwoye, with each of the beneficiary student receiving N200,000.

The scholarships were awarded by both the OOU branch of the ASUU while gave scholarships to 27 of the students just as national body of the union, awarded its own to two students.

The gesture according to ASUU, was to lessen the burden of university education on the beneficiaries, that were selected strictly on merit.

Presenting the grants to each of the beneficiaries at the ASUU-OOU Secretariat after its Branch Congress yesterday, the ASSU-OOU Chairman, Dr. Olukayode Oyenuga, said the beneficiaries were chosen based on their financial needs and impressive academic records.

Oyenuga who was represented at the occasion by ASSU-OOU vice chairman, Dr. Eniola Olooto, advised the students to utilise the grant wisely,

and consider saving part of the money for future semesters when they may need it more.

He said, ASUU National sponsored two students, while ASUU-OOU branch sponsored 27 students, making a total of 29 beneficiaries.

His words: "We hope to sponsor more scholarships, but our capacity depends on available funds. This year, ASUU increased the scholarship amount by N100,000 due to economic factors.

"ASUU members are like local parents to students. Within our financial limits, we'll continue assisting indigent students."

Two of the beneficiaries, Zulaikha Idris Omayoza, a final-year pharmacy student and Oppoola Kingdom, a 500-level crop production student, thanked the ASUU for the financial palliative, saying it would go a long way to address their needs.

"The scholarship has changed my perception of ASUU. I learned about the opportunity through a lecturer and I am grateful I took advantage of it. This grant has inspired me to practice generosity when I'm able," Oppoola Kingdom said.

“After retiring from the military, General Useni transitioned into politics, where he continued his service to the nation. He served as Deputy Chairman of the All Nigeria Peoples Party (ANPP) and was elected Senator representing Plateau South Senatorial District in 2015 under the Peoples Democratic Party (PDP),” he said.

He, however, applauded Useni’s life of selfless service, his profound contributions to the military, politics, and community.

Mutfwang noted that Useni’s legacy of compassion, kindness, generosity, and dedication to the well-being of others would endure in the lives of

Ten years later, Useni insisted Abacha died a natural death, contrary to rumours that he died after eating a poisoned apple.

In August 2001, he was appointed head of a delegation from the Arewa Consultative Forum to meet and discuss common goals with Northern governors and other leaders.

In 2003, he was Deputy National Chairman, North for the All Nigeria Peoples Party (ANPP), and in November 2004, he was locked in an internal ANPP struggle with Chief Donald Etiebet, the National Chairman.

In May 2006, he left the ANPP to become chairman of a new party, the

Democratic People’s Party, taking with him other members of the progressive wing of the ANPP.

He was however suspended indefinitely in December 2008, for saying the death of Ken Saro-Wiwa was a national sacrifice.

He was succeeded by Biodun Ogunbiyi, who criticised Useni's alleged poor leadership, resulting in failure to win any seats in the Senate or House of Representatives in the April 2007 elections.

Useni ran for election as Senator for Plateau South in April 2011 on the DPP platform, but was defeated by Victor Lar of the PDP. He tried again in 2015 on the platform of Peoples Democratic Party and won.

In October 2018, Useni won the PDP primaries to run for Plateau governorship, but lost to Simon Lalong with 595,582 votes to 546,813.

Useni challenged the results of the election on the ground that Lalong was ineligible to assume the position of governor, having submitted a different certificate to INEC, bearing different name to Simon Bako Lalong.

But the three panel of justices led by Justice Halima Salami struck out Useni's petition, affirming Lalong’s election for lack of substantial evidence to prove the discrepancy of names in the certificate Lalong submitted to INEC.

Useni appealed the judgement of the tribunal at both the Appeal Court and the Supreme Court but lost. The judgment from the courts ended his ambition to rule Plateau State, and had since led a quiet life till his passing yesterday.

Mrs Soludo: Man Who Burnt Wife to Death over Infidelity Must Face Justice

As women's group condemn action

Eleke in Awka

Anambra State governor's wife, Mrs. Nonye Soludo, has vowed to follow up closely on the case of a man who allegedly set his wife on fire in Abagana, Njikoka Local Government Area, over a case of infidelity.

The governor's wife said she will follow up on the matter until full justice is served on the man, who was identified as Mr. Sunday Nwanna. While receiving details of the incident from the Commissioner for Women and Children Affairs, Mrs. Ify Obinabo and her health counterpart, Dr. Afam Obidike, Mrs,

Lagos Island Revamp: LASG Issues 48hr Relocation

The Lagos State Government on Thursday issued a 48-hour ultimatum to traders operating under Apogbon Bridge and traders operating on the drainage setbacks on Lagos Island to vacate preparatory to the commencement of urban regeneration of Lagos Island.

The Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, issued the notice while addressing the media after an inspection tour to Savage/Elegbata Bombata Drainage channel around Olowogbowo/Apongbon axis in Lagos Island, saying that negative human activities in the axis massively contribute to flooding and posed serious threat to lives and properties.

He explained the tour became necessary because it was observed that the

Owners on Drainage Setback

setback of these two critical drainage collectors which are Bombata/Olusi and the Alagbafo collector have been converted into shops/stalls, adding that these channels were initially not captured in the Lagos Island regeneration process and this can hamper the success of the regeneration.

"I have instructed that the shop/ stall owners be served abatement notice; We are going to clear these infractions and keep the maintenance work going while ensuring that the contract is revisited to accommodate these two collectors" he said.

Wahab who observed during the inspection that traders selling livestock have also converted under Apongbon bridge to a ranch and livestock market, thereafter ordered an immediate relocation of the livestock traders to

designated markets saying they are contributors to blockage to the two collectors in the area.

According to him, "What we saw is not something that we are happy about. People have fully built on setback and drainage channels and when you build structures on this infrastructure, how do you expect this infrastructure to be maintained.

"We have abused this infrastructure and I have given directives to the appropriate department to serve notice of abatement and if compliance is not carried out enforcement will commence."

He said the government cannot fold its hands and allow any one turn Lagos State to an Hobbesian state where life becomes Nasty, Brutish and Short, saying that infrastructure are

built for public use but some people turned them to their shops and the state government will stop the bad behaviors right away.

He said all concerned stall owners would be served contravention/ abatement notices while the ministry officials would come back to monitor the level of compliance after 48 hours.

The commissioner warned developers and residents that dump building materials on the roads and drainage channels causing serious blockage to natural flow of water to desist from such acts while ordering the immediate sealing of 2 buildings under construction - one on Alakoro Martins Street (No 109) and another one in Ebute Ero Market for dumping of building materials on the drainage channels.

Soludo said the matter will not be swept under the table.

She had directed the duo to immediately visit the scene of the incident, and asked to be updated frequently on the matter.

Mrs. Soludo said: "I will see to the end of the case, to ensure that full justice must be made to take prime place in the whole process.

"This present administration takes issues of domestic violence and abuses as serious crimes, and no one who is found guilty of such offences would be let to walk free."

Meanwhile, Oraifite Women in Ekwusigo Local Government Area of Anambra State, under the aegis of Oraifite Women Based in Awka, have condemned the burning to death of a woman, Mrs. Blessing Nwanna by her husband, over allegation of infidelity.

Spokesperson of Oraifite Women Based in Anambra, Dr. Helen Obi, who is also a senior lecturer in the Faculty of Law, Nnamdi Azikiwe University, Awka, in a press briefing on Thursday said the women plan to visit the commissioner for women's affairs to ensure that the matter is not swept under the carpet.

Obi said the deceased who is a mother of six hails from Oraifite and was married to her husband, Sunday Nwanna, a native of Abagana, where they both lived until Tuesday evening when the man poured fuel on her

and set her ablaze after a heated argument, leading to her death.

While briefing journalists, Obi cautioned couple against violence, urging them to do well to detect early signs of violence and walk away. She insisted that there was nothing for a woman to be ashamed of in a broken marriage, as it was better to be alive than die while trying to conceal the shame of divorce.

She said: "I'm speaking on behalf of Oraifite Women Based in Anambra. I'm also speaking as a former vice chairman of International Federation of Women Lawyers (FIDA) in Anambra, and an advocate of World Women International.

"We condemn the burning to death of our daughter who is married to Abagana, who was set ablaze by her husband. This is such a gruesome incident. We have not rested since we heard this.

"We just ended the 16 days activism on 'stop the violence against women', and less than a month after that exercise, we are now seeing this. During the campaign, we spoke against domestic violence.

"This particular incident did not go down well with us. So Oraifite Women Based in Awka plan to visit the commissioner for women's affairs, Mrs Ify Obinabo to express our unhappiness about this and to urge her to ensure that justice is served."

Chuks Okocha in Abuja

James Sowole in Abeokuta

David-Chyddy

L-R: Head of Logistics Projects, Lafarge Africa, Ogbonna Arua; Chief Executive Officer, Boatan Ventures, Abolaji Akingbogun; Head of Sales Lagos, Lafarge Africa, Tunde Odufote; and Category Manager, Cement, Lafarge Africa, Augustina Sobola, during the Lafarge Customer Truck Allocation Event held by Lafarge Africa at Arepo, Ogun State....recently

Late Oseni

Politics

Acting

Email: deji.elumoye @thisdaylive.com

08033025611 s M s O n

Abass: Reminiscing on an Encounter with a Nationalist

Philip Agbese reflects on the laudable work of the Speaker of the House of Representatives, Rt. Hon. Tajudeen a bbas in public service

In the chronicles of life, there are leaders, and then there are exceptional leaders.

Many are contented with maintaining the status quo, while few embrace the mantle of distinction, challenging the status quo and redefining what it means to serve with humility, integrity, and a resolute commitment to humanity.

Rt. Hon. Tajudeen Abbas, the Speaker of Nigeria’s 10th House of Representatives, firmly belongs to the latter category.

In my careful observation of him over the few years of knowing him, I discovered that he is a nationalist to the core, a consummate servant-leader, and a man whose life’s work reflects the highest ideal of selflessness in public service.

I was privileged to meet Abbas shortly before the inauguration of the 10th House of Representatives. Our encounter is what I call “Brief, yet profoundly impactful”.

I saw not just a man of great intellect but also a compassionate and approachable individual, a committed leader with a burning desire and vision for a better Nigeria.

From the very moment he walked into the room, Abbas, a prince from Northern Nigeria, holds the traditional title of Iyan Zazzau and exuded an aura of calm humility that belied his position as one of the most powerful lawmakers in the land.

The Kaduna Prince’s demeanour, against my initial perception, was not that of a man who is eager to dominate the discussion but one who listens attentively, nods thoughtfully and asks insightful questions to absorb and process the perception of others. It was obvious that he was not just hearing what each person spoke but genuinely listening.

I found this amusing as a rare quality in a world where many leaders are more focused on speaking than understanding.

According to the great author, John C. Maxwell, “A leader knows the way, goes the way, and shows the way.” TJ as he is fondly called by ranking fans, exemplifies this profound philosophy in his leadership style. He is not authoritarian nor detached but ensures that his compatriots are empowered to walk the path with him, inspiring collaboration and fostering a shared vision for progress with them.

Abbas stands out as a man whose word is his bond; he does not make commitments frivolously, understanding the profound trust and expectations that accompany his pledges. This is one of the traits that set him apart from many of his peers. In a political environment where promises are frequently made lightly and discarded even more readily, Abbas is a man whose word is his bond.

This rare quality has earned him the respect and admiration of colleagues across political divides, many of whom speak in glowing terms of his reliability and unflinching sense of duty.

Abbas sees himself as a youth and appointed eight young Nigerians as Senior Legislative Aides. He pledged to engage with Nigerian youths in a conversation twice every year, showcasing his commitment to listening to their concerns and ideas. Furthermore, he promised to extend his engagement to youths from various organisations and groups, demonstrating his dedication to inclusivity and diverse perspectives.

These promises were made before the 1st October, 2024 mass rally advocating for good governance, and remarkably, the Speaker has fulfilled all of these commitments, solidifying his reputation as a leader who truly values the voices and contributions of Nigerian youths.

As Blaise Pascal once said, “The strength of a man’s virtue should not be measured by his special exertions but by his habitual acts.” Speaker Abbas’ persistent support of the underprivileged, his willingness to help those in need, and his habitual deeds of kindness serve as a pointer to a man in service to the people.

Abbas is far more than just to be regarded

as a politician; he is, at his core, a man of the people. His kindness radiates naturally in every interaction. He is a kind leader who sees potential in everyone, making each person feel valued, seen, and respected,

regardless of their background, social status, or political affiliations.

When I think about his demeanour, I am reminded of Maya Angelou’s famous quote: “People will never forget how you made

them feel, but they will forget what you said and did.” Indeed, Abbas’ kindness, compassion, and respect for everyone he encounters are what will continue to have an influence. Innumerable Nigerians have found inspiration and hope in him because of his capacity to connect with them on a profoundly human level.

It is believed that great leaders are those who measure their success by the success of others, and Abbas is one such leader.

A beautiful soul with an uncommon capacity to identify potential in other people and with an even greater willingness to nurture and guide them towards fulfilment, which is unlike many political individuals who I know very closely.

In our conversation, a colleague once remarked with a smile on his face, “ Do you know that he wants us to be better than him? He doesn’t feel intimidated by our growth; instead, he celebrates our wins like his own.” I could not whisper any words after this but concluded deep in my thoughts, “ What manner of man is this Abbas?” I couldn’t agree less that a rare blend of confidence and humility is the cornerstone of his leadership ethos.

Iyan Zazzau’s passion for reading and education is just one of his many remarkable qualities. In addition, he is a meticulous and analytical thinker who carefully considers and absorbs all of the information that is put in front of him. I saw this as he discussed a few global capitalists and political reformers. It is said that leaders are readers and Abbas is no exception.

-Agbese, Deputy Spokesman of the House of Representatives, writes from Abuja

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Understanding Kaduna’s Peace Deal

Idris Ahmed writes about the all inclusive security arrangement put in place by Governor Uba Sani to make Kaduna State a safe haven for the citizens and visitors alike.

At a time when Governor Uba Sani is being lauded for carefully collaborating with the Office of the National Security Adviser, the Armed Forces and other security agencies to skillfully craft a peace deal - that is freeing Kaduna State from the debilitating scourge of banditry, kidnapping and other forms of criminality, some persons have in recent times been scheming to upset the governors’ achievements, citing nonexistent legal hurdles.

In a recent article, the well-known newspaper columnist, Dele Sobowale, suggested that by pursuing a peace deal that has led to the successful disarmament and reintegration of dozens of repentant dare-devil bandits and kidnappers, Governor Sani may be committing “treason”.

Sobowale had posited in his column that Governor Sani was usurping the powers of the federal government since, according to him, the governor was acting unilaterally and possibly ultra vires. “Without mincing words, nothing about it (The Peace Deal) makes sense; and aspects of it might be treasonable,” the columnist intoned in his article. Of course, his assertion is wrong and unfounded.

Here is the truth: By May, 2023, when Sani assumed office as the Governor of Kaduna State, hardened bandits, kidnappers and assortment of other criminal elements held the State by the jugular, making governance or even development almost impossible. The very strategic Kaduna - Abuja major highway was in the firm control of daredevil bandits and kidnappers who had perfected the nefarious act and art of abducting innocent and unsuspecting passengers for ransom. Since the State’s airport environ was also not safe at the time, visitors and even investors avoided Kaduna State. The State was slipping into comatose.

From the outset, Governor Sani was determined to deploy sustainable solutions

to the problem of insecurity in the state.

His preferred option has always been a deft combination of kinetic and non-kinetic solutions to a seemingly intractable problem.

Governor Sani understands Kaduna State and he is at home with practically all issues concerning the State and the people.

“What are the factors that have bred insecurity and banditry in Kaduna and other States in the North-West? Hopelessness, lack of education and lack of economic prosperity.

Over 85 percent of the people in the NorthWest are either not educated or financially excluded,” Senator Sani said a few weeks after he was sworn-in as Governor.

With his job clearly cut out for him, Governor Sani went to work pretty quick and the results of his efforts become instantly evident: Following an enhanced collaboration between the Kaduna State Government, Office of the National Security Adviser and the leadership of the nation’s Armed and Security

Forces, the Kaduna - Abuja express way received a deserved respite and travellers, in their numbers, began plying the road regularly without fear or anxiety.

The rail service between Abuja and Kaduna which was momentarily halted after a heinous attack that led to the abduction of several passengers, resumed in earnest. Even more importantly, previously traumatized farmers began returning to their abandoned farms.

Sani was the first State Governor, among his contemporaries, to personally take his internal security masterplan to the NSA, the Chief of Defence Staff and the Chiefs of Army, Naval and Air staff respectively.

The Governor’s concerted efforts did not go to waste as the leadership of the Armed Forces saw reasons with him and accepted to set up more Forward Operation Bases in Kaduna State.

In the same regard, Governor Sani, got traditional, community and religious leaders across the local government areas of the State involved in the battle against bandits and other criminal elements. At regular security meetings with these leaders, Sani kept all stakeholders properly informed about the direction of his government and what the leadership of the nation’s Armed Forces and other security agencies required of them.

The Governor customarily used the opportunity of the security meetings to take contributions from the traditional and community leaders on how best their communities could be secured. These meetings speedily paid off handsomely as security truly become ‘everyone’s business’ in Kaduna State.

-Ahmed, a Public Affairs Analyst, writes from Kaduna

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FOUNDATIONAL LEARNING: EMPOWERING AFRICA’S AGENCY AND DEVELOPMENT IN THE AGE OF AI African leaders must prioritise education, particularly foundational learning, argues OBIAGELI EZEKWESILI

BLAME POLITICIANS NOT INEC ON ELECTORAL INFRACTIONS

KASSIM AFEGBUA contends that INEC is doing its best in the present circumstances

THE POWER OF EDUCATION

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The rebasing represents a critical step in modernising economic measurements and aligning them with current realities, argues ISIAQ

WOULD GDP REBASING MAKE ANY MEANINGFUL IMPACT ON REAL INCOME?

In the last few months, there have been talks about rebasing the two important economic indicators, the Gross Domestic Product (GDP) and the Consumer Price Index (CPI).

While the GDP calculates the value of all goods and services in the economy within a year, the CPI calculates the average change in prices over time that consumers pay for a basket of goods and services. It is a key measure of inflation and reflects the cost of living.

Both have a base year, which is compared with other years in the compilation. For example, the last rebased year for GDP in Nigeria was 2014.

Recently, the National Bureau of Statistics indicated that it would release the results of the newly rebased GDP and CP1 by the end of January. This has excited stakeholders in the economy because rebasing the two important economic indicators would mean increased national income for the country.

This is because the result is likely to lead to an increase in per capita income in Nigeria. After all, the GDP is expected to expand as a result of the inclusion of new economic activities in the new calculation.

According to the press release issued by the NBS on Monday," The activities of some sectors of the economy have grown tremendously since the last rebasing, making them significant among other sectors of the economy. They include Marine & Blue Economy, Art, Culture, Tourism and Creative Economy, Information and Technology, Innovation, and Digital Economy activities. "

When rebased, Nigeria's GDP is expected to expand, reflecting a more accurate picture of the economy's true size. Consequently, per capita income — GDP divided by population — is likely to increase, even if real incomes remain unchanged.

Given these insights, it is safe to say that the result holds profound implications for Africa’s largest economy. As these figures are updated to reflect current economic realities, the outcomes could reshape perceptions of Nigeria’s economic standing and influence policymaking, investment, and citizen welfare. This is certainly a good music to hear for most of Nigeria. But would it increase real growth in the economy?

In retrospect, Nigeria's GDP nearly doubled during the rebase of 2014, making it Africa's largest economy, surpassing South Africa. This was because the rebasing accounted for new industries like telecommunications, entertainment (Nollywood), and e-commerce, which had grown significantly since the previous base year of 1990.

While this statistical adjustment doesn't necessarily translate to immediate improvements in living standards, its implications are far-reaching.

Pundits who are concerned about real income growth. They have concerns about statistical figures that would create an impression of higher income for an already improvised economy where the majority of the citizens are multidimensionally poor. They fear that people might be worse off in

the face of a likely increase in inflation, which has climbed to 34.80% in December, up from 34.60% in November 2024. This marks the fourth consecutive monthly increase, driven primarily by heightened demand during the festive season, leading to price surges in food and non-alcoholic beverages.

Food inflation slightly decreased to 39.84% year-on-year in December, compared to 39.93% in November. Notable price increases were observed in staples such as yams, sweet potatoes, corn, rice, and fish.

These inflationary trends have exacerbated Nigeria's cost-of-living crisis, with more than 60% of the population living in poverty and many spending over 63% of their income on food.

However, an increase in gross income and per capita income as a result of the rebasing would neutralise these negative effects. Here are a few factors that will advance the positive impact.

First, Nigeria's standing in global rankings, portraying the nation as more prosperous, may increase. This can positively influence international investors, who often consider economic indicators like GDP and income levels when making decisions. A rebased GDP could bolster confidence in Nigeria as an investment destination, potentially attracting foreign direct investment (FDI).

Secondly, the higher per capita income will prompt policymakers to re-evaluate socioeconomic strategies. For instance, the government might shift its focus from poverty alleviation to wealth distribution and middleclass expansion. This is closely related to the objective of the Tinubu tax reforms, which was recently embraced by the Nigeria Governors’ Forum ( NGF) . However, this could also mean a reduction in access to international aid or concessional loans, as Nigeria might no longer qualify under certain global thresholds for low-income countries.

At the same time, a rebased GDP that highlights underrepresented sectors such as technology, entertainment, and services could spur efforts to diversify the economy. Policymakers might prioritize these emerging sectors, reducing reliance on oil and addressing the vulnerabilities associated with fluctuating global oil prices.

Yet, CI rebasing will provide more accurate inflation data, influencing monetary policy. This could lead to better-targeted interventions by the Central Bank of Nigeria (CBN) to

control inflation and stabilize the naira, directly impacting the cost of living for Nigerians.

The Nigerian creditworthiness would also increase because the debt-to-GDP ratio would be reduced. In the eyes of international financial institutions, such as the International Monetary Fund (IMF) and World Bank, Nigeria may be viewed as a more creditworthy nation. This can result in better access to loans with favourable terms and reduced borrowing costs.

The increased GDP will also enhance the access of Nigeria to international markets. Higher income levels can pave the way for Nigeria to join more exclusive economic groups like the Organisation for Economic Co-operation and Development (OECD), providing opportunities to influence global economic policies.

Closely related is the fact that Nigeria's elevated economic status can enhance its bargaining power in negotiating trade deals, enabling access to more beneficial terms in international trade agreements.

Similarly, there will be an Improved Human Development Index (HDI): High per capita income often correlates with better health, education, and living standards, which can boost Nigeria’s HDI ranking. This improved ranking can reflect positively on Nigeria's global image and attract international partnerships.

Nigeria will also likely graduate from Aid Dependency. With higher income levels, Nigeria may reduce its dependence on international aid, transitioning towards self-sufficiency and enhanced economic sovereignty. That may likely attract global talent and partnerships. A wealthier economy can attract global talent, investors, and innovators seeking opportunities in Nigeria’s growing markets.

Other countries and organizations may seek partnerships with Nigeria, recognizing it as an influential player in the global economy.

More importantly, and at this time in our national life, a stronger economy backed by higher per capita income can stabilize and strengthen the naira in international currency markets. A stronger currency enhances Nigeria’s purchasing power globally, reduces import costs, and fosters economic stability.

The real income will, therefore, at the end of the day improve, as economists would say, all things being equal.

All things have been equal because the government plays a pivotal role in making real income improve.

This must be sustained by infrastructure development and human capital investment that will maximize these benefits and ensure inclusive growth that uplifts all Nigerians.

For ordinary Nigerians, the implications of the higher income could lead to improved access to international markets and more jobs due to increased investments.

Ajibola, former Managing Director, Daily Trust, writes from Abuja

African leaders must prioritise education, particularly foundational learning, argues OBIAGELI EZEKWESILI

FOUNDATIONAL LEARNING: EMPOWERING AFRICA’S AGENCY AND DEVELOPMENT IN THE AGE OF AI

As we commemorate the 2025 International Day of Education, Artificial Intelligence (AI) dominates global discussions—from policy debates to boardrooms. This year’s theme, "AI and Education: Preserving Human Agency in a World of Automation," underscores both the promise and concerns AI presents. While AI drives productivity and innovation, it also raises fears about job displacement. One truth remains: automation-resistant skills begin with strong foundational learning— basic literacy, numeracy, and transferable skills like cognitive reasoning, analytical thinking, and socio-emotional development.

The World Economic Forum’s 2025 Future of Jobs Report highlights that as automation accelerates, uniquely human capabilities—analytical thinking, problem-solving, resilience, and leadership—will only grow in importance. These skills are the backbone of human agency in an increasingly automated world. As Africa continues to drive global workforce growth in the coming years, there is an urgent need to match this demand with quality supply. This process begins at the foundational level.

These higher-order cognitive and socio-emotional skills are not inherently innate; the evidence indicates that they are cultivated through early and consistent exposure to quality foundational learning. A 2011 Stanford University study led by Dr. Vinod Menon found that just one year of structured early math instruction significantly strengthened brain regions responsible for working memory and numerical processing. This neuroplasticity in early childhood forms the basis for more complex problem-solving and analytical thinking later in life. Similarly, research by Mark T. Greenberg (2023), published by the Learning Policy Institute, found that Social and Emotional Learning (SEL) programmes improve academic performance while also enhancing resilience, emotional regulation, and pro-social behaviours.

The AI revolution strengthens the case for foundational education. Human agency in the AI era is not built in coding bootcamps—it develops in pre-primary and primary school classrooms, where children first learn to decode text, understand numbers, and think critically. A child who learns to read with comprehension is not just acquiring a skill—they are building the cognitive foundation necessary to question, analyse, and shape their world. Similarly, mastering basic mathematics creates the mental frameworks needed to use, control, and develop technology, including AI, rather than being controlled by it.

The stakes could not be higher for Africa. With the continent poised to make the largest contribution to the global labor market due to its young and growing population, ensuring strong foundational skills becomes an economic necessity. We have observed leadership across the continent, with countries such as Rwanda and Mauritius

publishing comprehensive national AI strategies and Nigeria, Kenya, and South Africa pioneering AI applications in education. The African Union's Artificial Intelligence Strategy also envisions us as leaders in technological innovation. But leadership requires human agency—the ability to shape, not just adapt to, technological change. Tackling AI risks, bridging the digital divide, and designing ethical AI systems all require the highest levels of human agency, which is predicated on structured investments in foundational learning.

The urgency of this challenge could not be understated: nine in ten African children cannot read or do basic arithmetic by age 10 (World Bank, The State of Global Learning Poverty). In an era where AI can generate text, create images, and solve complex problems, these children risk becoming passive users of AI systems they cannot critically evaluate. This is not just a digital divide; it's an agency divide that threatens to reinforce neo-colonial patterns of technological dependence.

The path forward is clear. African leaders must prioritize education at large—particularly foundational learning—as the bedrock of technological agency. Investing in foundational skills is not a trade-off between basic and advanced learning—it is the base upon which all future learning, including AI, is built. The evidence is clear: interventions such as Teaching-at-the-Right-Level (TaRL), which groups students by learning level rather than age to provide targeted instruction, and structured pedagogy programmes, which offer a systematic approach to teaching with scripted lessons, teacher training, and materials, can boost learning outcomes in early grades, deliver cost-savings, and in turn build uniquely human skills—such as analytical thinking, creative problem-solving, resilience, flexibility, and leadership. These skills will hold value in future labour markets and lay the cognitive foundation for technological empowerment.

While foundational learning is crucial, a holistic approach to education in the AI era will require broader interventions. I join the Foundational Learning Hub and partners to call upon African governments, donors, the private sector, and the broader education community to leverage the advancements in edtech and apply them to strengthen our educational systems further. To ensure the best results:

One, Ensure EdTech innovations uphold quality, equity, and privacy by grounding them in instructional rigour and evidence.

Two, Integrate EdTech into government-led foundational learning programmes to enhance, not replace, quality teaching at scale.

Three, African governments must prioritise the implementation of cost-efficient and proven pedagogical approaches like Structured Pedagogy and TARL; and provide an enabling environment for innovation and technology to support delivering them at scale.

Four, Address connectivity and infrastructure challenges by developing scalable digital public infrastructure.

Five, Embed digital literacy in curricula and equip teachers to teach with and about AI to maximise its impact.

Six, Increase donor investment in foundational learning and AI-driven education solutions while strengthening the evidence base for effective innovation.

As AI advances, human agency must remain at the centre of Africa’s development. The question is no longer whether AI will transform the world—but whether Africa’s children will have the foundational skills to shape that transformation. The answer depends on what happens today in our primary school classrooms.

Dr Ezekwesili is Founder and CEO of Human Capital Africa

KASSIM AFEGBUA contends that INEC is doing its best in the present circumstances

BLAME POLITICIANS NOT INEC ON ELECTORAL INFRACTIONS

Following the completion of the Ghanaian Presidential Election, which returned an opposition candidate Mahama as president, Nigerian commentators were quick to score the Ghanaian electoral body high, with superlative remarks. To them, the outcome reflected the wishes and aspirations of the people of Ghana who came out on election day to exercise their franchise. I remember that when opposition candidate Muhammadu Buhari won election in Nigeria in 2015, similar accolades were poured on Mahmud Jega, the then Chairman of the INEC- simply because it was a victory for the opposition. In fact, to crown it then, former president Jonathan made the honorable call conceding defeat, and engendered all frayed nerves to calm down. That singular action has placed him on a pedestal that is peculiar to him alone - a man not desperate for power. He has since become a chief observer in several elections across the world.

The Ghanaian election has come and gone, and the calls by analysts for the INEC to be crucified seems to be coming to a head. From my experience in politics from 1997 till date, any time the opposition wins any election, that election is usually considered free and fair; but when the ruling party does, hell is often let loose on the INEC. At those times, one hears all manner of abuses and insults, hurled at the electoral body. Would wish that this negative mindset against the INEC stopped now. This body is making great effort to make our democracy work, it must be appreciated and its shortcomings extenuated; rather than be serially vilified. The complexities and intricacies of our country are peculiar. For instance, the INEC is expected to manage 94 millions voters across 176,846 for which they need extra hands; as against Ghana's 40,975 polling units with about 19 million registered voters. Nigeria is a macrocosm, but I cannot say the same of Ghana; levels of education and culture also play roles in terms of voter behavior, election conduct and outcomes.

I understand that the INEC recruits about 800,000 adhoc staff for effective conduct and management of elections. At least four adhoc staff are expected to facilitate the assignments in each polling unit on election day. These adhoc staff may not have the same level of commitment to the process, as the core INEC staff; yet they participate in handling sensitive roles during the election. To my mind, the recruitment of adhoc staff is the beginning of rigging; and the political parties would most likely be culpable when it comes to this act. They are said to sponsor some persons during the recruitment process into the INEC, with the aim of using them during the election. Such sponsored adhoc staff act as the "eyes and ears" of the sponsoring parties. They are often given specific ancillary and possibly antithetical roles to play from what the INEC mandates them to do. So, from day one, the process is faulty, compromised and orchestrated by no design of the INEC, but these same political parties that cry, “wolf.” These may be the category of staff that hack into INEC's cyberarchitecture to cause electoral havoc. This is one reason why the INEC, in my opinion, should be unbundled.

The INEC is beleaguered by too many responsibilities: voters registration, polling units delineation, voters education, recruitment of adhoc staff, political parties monitoring, conduct of elections, etc. I think these responsibilities are just too many for one body alone. We must

commence the restructuring of the INEC by first taking away some responsibilities from the body, leaving Election Day responsibilities to another independent body; thereby allowing that body ample time and other resources to prepare for Election Day, strictly. Then, credible election results would seem propitious. To manage an additional 800,000 staff on election day is no joke by any stretch of one’s imagination. All players, stakeholders and parties must agree to work together, with base level standards established, if we must have credible polls. The desperation to win, at all costs, must be checked with eagle eyes and the magnanimity to accept the outcome of elections should be entrenched in the process. Imputing all blame on the INEC always, to sustain a negative public perception of the body is simply unjust.

The same critics and analysts that praised the Ghanaian elections, I bet, would not exhibit decent behavior back home when election comes. Nigerians break traffic laws and blame it on witches and wizards. Go to Ghana and see the very meaning of compliance, strict adherence to the rule of law and enhanced citizen participation to make things right; then compare it to Nigeria, where it is believed, that the laws are observed in the breach. The high rate of unemployment and general frustration in the land, are veritable reasons why an adhoc staff would look the other way while the election process is being compromised. Politicians bribe these adhoc staff so much that they look forward to elections as another window to make ends meet. To conduct election across 177,000 polling units, same time, and on same day, is herculean by every cognitive consideration. In a country with poor power supply, it is frustrating getting it right. So while the INEC still contends with all these setbacks to deliver on its mandate, we need to appreciate them rather than condemn them.

I guess hunger too, makes cowards of us all. The next time a Nigerian asks for the head of the INEC on the guillotine, they should chop off their own head, first. The real change should begin with you and me.

Afegbua is a former Commissioner of Information in Edo State

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

THE POWER OF EDUCATION

The authorities must invest more in education

As people all over the world today mark the 2025 International Day of Education under the theme ‘AI and education: Preserving human agency in a world of automation’, it is important that stakeholders in the country reflect on the power of education to equip individuals and communities at a period far too many children are out of school in Nigeria. But even for those who are, most can hardly read or write, particularly those in the North-east. According to the United Nations Children’s Fund (UNICEF) the region is experiencing a severe learning crisis as three out of four school children cannot read or solve simple mathematical problems before they enter Primary Six.

To be sure, the impact of the Boko Haram insurgency on education in the Northeast is harrowing. At the last count, more than 700 teachers have been killed while thousands of others remain displaced due to the protracted conflict. In addition, more than a thousand schools have been damaged or destroyed, with the forced closure of almost 2000 schools. More than a million children have also lost access to learning while 75 per cent of children in camps do not attend any school. Meanwhile, there is ample evidence that the social miscreants and religious bigots that have destroyed the North-east are largely recruited from the army of uneducated people who grew up without any hope for their future.

it does not appear as if the relevant authorities as well as critical stakeholders are paying attention. In many rural communities, classrooms are an essential commodity with the result that children study under trees. In the urban centres that have the luxury of being provided with classrooms, many of them are dilapidated with leaking roofs, cracked walls and without windows. In many of these states, especially across the northern region, children sit on the floor as there are no reading tables and chairs for them.

The schools must be equipped with basic infrastructure, learning tools and competent teachers to make learning attractive

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

T H I S D AY N E W S PA P E R S L I M I T E D

But while Borno, Yobe and Adamawa States are in the rear obviously because of the adverse effect of the prolonged insurgency, the challenge is national. The education crisis is affecting children across the country. At least 20.5 million children are reportedly out of school in Nigeria, many deliberately out of neglect. Indeed, across the country, several studies and reports speak volumes about the abject neglect of infrastructure in schools. And to worsen matters,

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

The deplorable learning conditions are worsened by lack of teachers in most of the primary schools. Many more schools in rural communities have no teachers at all, leaving the children to their own devices with all the dire consequences for the future of our country. Even the schools provided with teachers are not better off. Almost every state has, at one time or anther, reported cases of unqualified teachers who failed a test conducted to determine their competency.

Nigeria’s falling standard of education can only be halted through adequate funding. It is an immediate imperative. The schools must be equipped with basic infrastructure, learning tools and competent teachers to make learning attractive. And the classrooms must be safe. There should also be an intensive enlightenment campaign to change the orientation of the parents and guardians who seem not to appreciate what damage they are doing to the future of their children and wards by not putting them in school.

Fortunately, most of the states have subscribed to the Child Rights Act. It should be enforced. Besides, as we have also suggested, and still reiterate, states should tap into the Universal Basic Education Fund and make use of grants which many governors have failed to utilise for fear of accountability. On a day such as this, we endorse the idea that every child in Nigeria should be in school.

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.

CONGRATULATIONS, THISDAY

I have a hobby of writing opinion articles and sending them to a variety of newspaper houses for publishing. Among the newspapers that I usually send my articles to, I have found out that THISDAY newspaper most often favourably publishes my articles. Thank you very much, THISDAY newspapers! This has been very encouraging to me as I try to develop my writing skills. I really appreciate your prompt publication of my articles. Congratulations on your 30th Anniversary.

Daniel Ighakpe, FESTAC Town, Lagos

NO HUMAN BEING TURNS INTO BIRD

The Advocacy for Alleged Witches (AfAW) urges Nigerians to realize that no human being turns into a bird, snake, or cat as popularly believed. This statement has become necessary following a 'video' being circulated on the internet of an elderly and mentally challenged woman in the Ago/Egun Isabo area in Ogun State. The footage that one Teniola shared on X (formerly Twitter) on January 21, 2025, states: Full video of a Flying Bird that turns to (a) human being in Abeokuta". The woman was sitting on the ground, surrounded by a mob.

AfAW has notified the police public relations officer and the Ogun State chapter of the International Federation of Women Lawyers. There is some unconfirmed report that the woman is in the custody of the police. AfAW will work with authorities to provide her with all the necessary support and ensure that she suffers no further harm or abuse. This video illustrates the grip of superstition on the minds of Nigerians. Modern education has not suc-

ceeded in weakening this grip. The misconception that a human being can turn into a bird remains a popular superstition.

The notion that a human being could magically turn or transform into a bird or cat is counterintuitive. This claim contradicts the fundamentals of science and logic that Nigerians study in schools. Religions often preach, peddle, and reinforce this mistaken idea, and baseless nonsense, motivating Nigerians to show no compassion for persons believed to have the capacity to transform into animals.

Nigerians often use this misconception to justify murder, torture and maltreatment of elderly persons, including those suffering from dementia and other mental health challenges.

AfAW urges Nigerians to abandon these superstitions and embrace science and critical thinking. Leo Igwe directs the Advocacy for Alleged Witches

Most newspapers are showing a photo of President Trump and one of his many Executive Orders but all that is visible is large scrawl made by a thick sharpie. It can be assumed that they haven't been blurred out for secrecy reasons or that every paper printed a low quality copy. If we consider what is visible, it resembles an ECG printout but that would confirm he has a heart which has been disputed as a result of his immigration and health orders. Another possibility is that the image is from a seismograph suggesting an earthquake and all of the damage that would cause. How much damage can one person do to a planet in four years, a lot considering he withdrew the US from the Paris agreement after one day.

Dennis Fitzgerald, Melbourne, Australia

Expert: Nigeria Poised for Economic Gains in 2025, Projects Inflation Below 30%

Dike Onwuamaeze, Nume Ekeghe and Kayode Tokede

An expert in the Nigerian financial service sector, Mr. Ugodre ObiChukwu has projected that the Nigerian economy is poised for growth in 2025 with inflation expected to drop below 30 per cent, paving the way for improved investment prospects.

Obi-Chukwu who is the Founder/CEO of Nairametrics, in a presentation titled, “Nigeria’s Macroeconomic Outlook 2025,” which he delivered at the Finance Correspondence Association of Nigeria’s (FICAN) lecture tagged, “Outlook for the Nigerian Economy in 2025,” where he projected that Nigeria’s public debt would reach N150 trillion by the end of 2025.

According to him: “I believe

that inflation numbers are going to start falling, and we think it will fall below 30 per cent borderline 29 to 30 per cent,”

He attributed the expected decline to base effects from 2024’s high inflation levels adding, “It is going to take a lot to get inflation down, but that aggressive fall in 2025 will be a relief.”

He further noted that this reduction in inflation could stimulate a more favorable environment for investments.

“With inflation tapering and looking stable, I think that investment will be a lot better this year compared to 2024. It is a good time to invest in treasury bills and fixed-income securities,” Obi-Chukwu advised.

He said the passage of the tax reform bills pending at the

National Assembly would bring Nigeria businesses, especially the multinationals, under serious tax pressure by 2025.

He said: “In 2026, taxes will go up once these tax reform bills are passed and signed into law. But it is the same people that had been paying that will keep paying. Taxes are going to be a lot more serious over the next three years because of government’s need to fund its expenditures.

“There is no way the government will meet its revenue spend without increasing taxes. So, a lot of Nigerian businesses are going to face tax pressures over the next three years. And it is going to start with the multinationals because they are businesses that are easily recognisable because it is those that are already paying taxes that they

are going to start with.”

He added that some state governments are going to be more aggressive in their collection of personal income tax now that the sharing formula for VAT collection is going to be altered.

He also projected that Naira would depreciate further in 2025 because of the governments’ fiscal deficit financing.

According to him, countries that run fiscal deficits always experience exchange rate depreciation. “You cannot expect your exchange rate to be stable if you are running a fiscal deficit, which is essentially funded through borrowing that indirectly weakens the currency,” he said, adding that “Nigeria has being running a fiscal deficit for the past 10 years. And 2025 is the highest fiscal deficit to be witnessed

in a single year.”

Obi-Chukwu also emphasized that the Nigerian public debt, which is now at N135 trillion, would likely go up to N150 trillion by the end of this current year.

He, however, argued that the possible increase in the size of the country’s economy that might come with the rebasing of the GDP would provide the justification that Nigeria has room to borrow more in terms of its debt to GDP ratio.

Obi-Chukwu also added that the federal government is likely to resort to borrowing to pay the Euro bond that would mature in 2025.

He also noted that Nigeria’s foreign trade performance remains strong, with a trade surplus driven by crude oil and gas exports, which account for 90 per cent of total exports.

Obi-Chukwu emphasised the risks of this heavy reliance on crude oil, particularly in the face of fluctuating global oil prices. “Nigeria is still at risk as a monolithic economy. We can do much more from crude oil exports, but diversification is critical to reducing vulnerability,” he remarked.

Furthermore on forex market and capital flows, he reiterated that the Central Bank of Nigeria’s (CBN) forex reforms have brought a degree of stability to the market, with interventions bolstering investor confidence and inflows from International Money Transfer Operators (IMTOs) expected to further enhance liquidity.

Experts Advance Reasons for Nigeria’s Low Passenger Growth Record in Air Travel

With a population of over 200 million people, it is expected that Nigeria should be adding about four million passengers annually to the number of persons that travel by air both on domestic and international destinations, but air travel statistics show undulating results that sometimes oscillate, indicating that there is really no growth in the number of air travellers annually.

In 2021, Nigeria recorded 14, 249, 542, air travel according to records from the Nigeria Civil Aviation Authority (NCAA). This was made up of 12, 050, 264 domestic passenger movement and 2, 199, 278 international passenger movement.

In 2022, Nigeria recorded about

16. 2 million in both domestic and international travel with over 12 million on domestic travel, while about four million travelled on international destinations.

But Nigeria recorded a total number of 15, 895, 265 passengers in 2023, which was less than 16, 172, 433 passengers that passed through the airports in 2022 and there are indications that the number of passengers who travelled by air in 2024 would be less than the previous year, going by the first, second and third quarters results released by NCAA. When compared to other developing countries that have the population near or above that of Nigeria it becomes obvious that Nigeria is not recording passenger

growth in air travel both for local and international destinations.

In 2023, Brazil recorded 112.6 million passengers on domestic and international flights, marking a 15.3 percent increase from 2022’s 97.6 million passengers, as reported by Minister of Ports and Airports Silvio Costa Filho.

In Indonesia, from January to August 2023, the number of domestic air transport passengers was 41.6 million, increasing by 22.46 percent. The number of international air transport passengers was 9.9 million and increased by 212.55 percent compared to the same period in 2022.

Egypt’s airports recorded tremendous growth in air traffic rates during 2023, receiving approximately

47 million passengers, an increase of 28 per cent compared to that of 2022, according to a statement issued by the country’s Ministry of Aviation.

Looking at the stifling growth in the Nigerian Aviation sector, the Managing Director of Aero Contractors and former Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Ado Sanusi, told THISDAY that the economic situation of the country may have reflected on how people travel, noting that there is somewhat economic recession and the naira/dollar parity is a disincentive to international travel and that was why many Nigerians who hitherto travel overseas for summer stayed back in Nigeria and there was drop in air travel

on international destinations.

“It is not easy to keep up with rising ticket costs; so, people only embark on compulsory travel because there was marked reduction of flights. So, the major reason is the reflection of the economic situation in Nigeria. Recession is disincentive for travel. We have sluggish growth in the economy. The inflation rate is growing, interest rate is rising and these are the indices of a troubled economy,” Sanusi said.

Industry stakeholder and former Commandant of the Murtala Muhammed International Airport, Lagos, Group Captain John Ojikutu (rtd), said that the major challenge why Nigerians travel less by air was as a result of the high cost of ticket.

He noted that the deteriorating

economy is the major reason why Nigeria is not recording increase in passenger traffic in air travel like some aforementioned countries are doing.

“In Nigeria, average airfare of one hour will be almost thrice the average salary in the country? Like you said, most air travellers in Nigeria are regular travellers, mainly government and corporate officials and whose airfares are paid by their employers. How does the sector grow? In 2000, we targeted 20 million passengers for 2020 but 5 years after we are still less than the 20 million. What stuff should we still be looking for?

Chinedu Eze

Ekiti Airport Ready for Commercial Operations, Says Keyamo

Stories by Chinedu Eze Minister of Aviation and Aerospace Development,

Mr. Festus Keyamo (SAN), on Tuesday, said the Ekiti State Agro- Allied International Cargo Airport, Ado-Ekiti was ready for full commercial operations.

The minister disclosed this to newsmen shortly after inspecting facilities at the airport in company of the state governor, Mr Biodun Oyebanji, and some top government officials. According to Keyamo, the airport is 99.5 per cent completed, affirming that full commercial operations will soon commence.

The Minister also disclosed that the runway, which is of international standard has an apron large enough to sufficiently park many 737 small-body aircraft making it adequately comparable

to airports in the developed world.

“Ekiti Agro Allied International Cargo Airport is 99.5 percent ready for full commercial operations. I am sure you have seen that we have gone around, the basic requirements for the takeoff of an airport are here, you have the fire station, the tower, navigational equipment already installed, all security equipment in place, the runway we have here is of international standard. You can also see how big the apron is, it can park many 737s with narrow bodies. A lot of narrow bodies can come here and anchor. So, as it is today, Ekiti is ready for the world.

“I landed here to show the world that it’s now safe for landing, which is why Aviation 001 had to land here, it’s a testament that I have confidence in the facilities here for

public use. The commercial airline will start coming in anytime from now.” Keyamo affirmed.

Governor Oyebanji in his comment, expressed appreciation to the Aviation Minister, Aare Afe Babalola, and President Bola Ahmed Tinubu for making the dreams of the founding fathers and the entire Ekiti people come to reality with their unwavering support towards the completion of the airport project.

Governor Oyebanji, who could not hide his excitement at the current status of the airport, said it aligned with the vision of the immediate past governor of the state, Dr. Kayode Fayemi, who started the project, and that of the current administration. He said the airport remained part of the numerous gains of continuity.

Afrijet, Air Sierra Leone Sign Handling Contracts

The Nigerian Aviation Handling Company PLC (nahcoaviance), has been chosen by regional operators, Afrijet and Air Sierra Leone, to handle their ground operations in Nigeria.

The contracts between the parties would see NAHCO provide service for Afrijet’ flights into Port Harcourt and Lagos and Air Sierra Leone’s flights to Lagos.

The contract with Afrijet is for a three-year period, 2024 – 2027, while NAHCO will handle Air Sierra Leone, for five years, from 2024 till 2029.

Group Executive Director, Commercial and Business Development, NAHCO Plc, Prince Saheed Lasisi, expressed delight with the new contracts.

According to Lasisi, NAHCO’s more than 45 years of unblemished records stands it heads and shoulders above any other service provider in the industry. He said it is a good way to start the New Year. He said: “NAHCO delivers at all times. Our several years of experience has endeared us to all international and regional airlines and they all continue to choose

NAHCO. Our team of professional and experienced staff has continued to set the benchmark which guides groundhandling operations in Nigeria.”

Speaking on the new contract, the Group Managing Director/ Chief Executive Officer, NAHCO Plc., Mr. Olumuyiwa Olumekun, said NAHCO will always render quality, consistent and exceptional service.

“We cannot afford to give our valued clients any cause to complain. We are on top of this game for the long term.”

Ethiopian Airlines Receives IATA Re-certification

Ethiopian Airlines is proud to announce the successful recertification of its IATA Center of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV Pharma) accreditation as an airline and ground handling agent.

The milestone underscores the airline’s unwavering commitment in providing world-class air cargo services tailored to meet the stringent requirements of the healthcare and pharmaceutical manufacturers and shippers. Ethiopian Airlines Group CEO, Mr. Mesfin Tasew, commented on the recertification, stating,

“This achievement underscores our unwavering commitment to excellence in healthcare logistics. With a global network spanning key healthcare logistics hubs, Ethiopian Airlines positions itself as a trusted partner in Pharma and life science logistics. We are dedicated to supporting the healthcare industry by providing reliable and efficient air cargo services that meet the highest international standards.

Our goal is to make Addis Ababa the premier Pharma corridor in the global south, leveraging its strategic geographical location to address the

Air

WAtCh

Of Airline Collaboration and Passenger’s Dissatisfaction

Flight delays in domestic schedule service can be mitigated if airlines work effectively together in the sense that during none peak hours, airlines can collectively put their passengers together and designate one aircraft to each destination with full passenger load; instead of each airline deploying aircraft to the same destination with less than 40 per cent load factor.

logistical challenges of healthcare air transportation.”

The IATA CEIV Pharma certification is a globally recognized standard ensuring the safe and efficient handling of pharmaceutical products. Ethiopian Airlines, the first in Africa to achieve this accreditation in 2022, continues to uphold high standards of operational excellence. With this recertification, the airline reaffirms its commitment to modernizing cold chain infrastructure, specialized training, and innovative technologies to meet pharmaceutical logistics needs.

Air Sierra Leone Begins Flight Service to Nigeria

Sierra Leone’s commercial airline, Air Sierra Leone has commenced flight operations from Freetown to Lagos, Nigeria’s biggest commercial city to connect one of the biggest markets in Africa. The airline also announced technical partnership with Xejet, one of Nigeria’s domestic carriers, which will provide aircraft for it’s operations. The airline which marked its inaugural flight to Lagos on Wednesday recorded 36 passenger

Group Business Editor

Eromosele Abiodun

Deputy Business Editor

chinedu Eze

Comms/e-Business Editor

Emma Okonji

Asst. Editor, Energy

Emmanuel Addeh

Asst. Editor, Money Market

Nume Ekeghe

Correspondents

Kayodetokede(CapitalMarkets)

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reporter Peter Uzoho (Energy)

load factor on its 50-seater E145 aircraft.

Speaking during its inaugural flight ceremony at the Murtala Muhammed International Airport, Lagos, the General Manager, Air Sierra Leone, Edgard Lacle said the airline will operate three weekly flights to Lagos; Mondays, Wednesdays and Fridays.

“We will be using the E145 aircraft, which has about 50 passenger seat capacity. There are about 36 passengers on this inaugural flight. We have our products and we are interested in pushing our products which is quite different from any other products out there,” Lacle said.

Speaking on the attraction to the Nigerian market, he said the connection between Sierra Leone and Nigeria remained very strong in terms of trade.

Also speaking at the event, Xejet’s CEO, Emmanuel Iza, said Air Sierra Leone’s inaugural flight, had always reminded him of the power of dreams, determination, and the collective effort of an entire nation.

“This day is more than just the launch of an airline; it is the rebirth of a national icon. After over 15 years, the Sierra Leonean flag again takes to the skies, a beacon of hope, progress, and resilience for our beloved nation,” Iza said.

Finchglow Chairman Bags Honorary Doctorate Degree

Finchglow Holdings celebrates its Chairman, Mr. Kolawole Adesina, who has been awarded an honorary doctorate degree of science (D.Sc) at the 55th Convocation Ceremony of the University of Lagos.

The recognition highlights Adesina’s significant contributions to leadership and nation-building, as well as his dedication to advancing the energy and infrastructure sectors in Nigeria and beyond.

Adesina, who serves as the Group Managing Director of Sahara Power Group, an energy and infrastructure organization with operations in 42 countries, was celebrated alongside other

distinguished individuals for their exceptional impact on Nigeria’s development.

Commenting on the recognition, Group Managing Director, of Finchglow Holdings, Mr. Bankole Bernard, stated: “This honor is a reflection of Dr. Adesina’s relentless drive for transformative leadership and his commitment to excellence, not only in his professional endeavors but also in his efforts to inspire others to build a better future. His vision and dedication to building a sustainable future inspire not just us at Finchglow Holdings but everyone striving to make a meaningful impact.”

This can happen if domestic airlines like many international airlines, can collaborate, interline and code-share. In many occasions, Nigerian airlines have announced collaboration among themselves but in practice, it is discernible that competition and rivalry tend to outweigh the desire to collaborate.

That lack of togetherness has also impaired their operations in many other ways. They cannot get together to fight policies that are inimical to their collective interests and because of their gullibility they yield easily to divide and rule which government inadvertently has used to weaken the airlines as a collective entity in Nigeria’s aviation industry.

The Group Managing Director of Finchglow Holdings Limited, Bankole Bernard, threw light on the issue recently during interaction with journalists to mark the New Year, 2025. Bernard noted that if domestic airlines were working together they would have a common clearing house, so that when passengers that have bought tickets from different airlines but have to travel with airlines other than the ones they have their tickets, tickets and fares can be reconciled in the clearing house.

So, despite the claims that domestic airlines are working together, the fact that there are no effective clearing house casts doubt on the efficacy of their collaboration. In the past, efforts had been made by concerned parties and individuals to make Nigerian airlines work together to harness the opportunities at their behest. If they worked together it will mitigate passenger delays in the sense that instead of one airline hoping and waiting to get more passenger to fill its aircraft and generate enough revenue to cover cost of operation of one flight, they can come together to deploy one aircraft and share the cost and the gains.

Bernard referred to the International Air Transport Association (IATA) clearing house, saying that such can also be replicated in Nigeria for domestic carriers, even with the help of IATA. This will not only save time for travellers, it will also reduce airline losses because instead of carrying 40 passengers using Boeing 737 meant for 120 passengers, the airline can offload the 40 passengers to another airline that would be approved to take everyone to that destination. In this case, the airline with 40 passengers will not incur losses in that movement.

Bernard also spoke about Nigerian airlines joining the IATA clearing house, saying that it makes them stronger carriers that could be approached by international airlines for partnership.

He lauded the Nigeria Civil Aviation Authority (NCAA) for improving safety of flight operations in Nigeria and said that Nigerian carriers should now get ready to join IATA clearing house.

Clearing house for airlines is commercial. It is when you are safe that you can start to address commercials. So, it’s step by step. We have created safety, then we will now start to look at commercials. Air Peace has gone to the IATA Clearing House; they have tasted it and see how it is. Maybe in their wisdom, they will be able to enlighten others. To get access to the clearing house, there are certain things you have to do and some of them involve

you having to tie down money because they know Nigeria will default and walk away. So, you have to deposit and if anything goes wrong, they will take your money and use it to settle others. That is the major challenge with our airlines.

“The greatest challenge with Nigerian airlines is the cash flow that creates impression of huge revenue, but that money is not for you. It’s for maintenance of your aircraft and other necessary things. Being in IATA Clearing House means that you can expand your inventory. Your inventory becomes the reach for everybody even for those outside the country. It means that other people in other regions can have access to you. You can even get forex in that regard. When you are in the clearing house, you can give somebody in South Africa to sell “Lagos-Abuja-Lagos and they will remit to you in dollars, but the initial cost is what is driving away a lot of them. You can see an opportunity for foreign exchange, expand your inventory, worldwide recognition and opportunities for investors to come into your business. You can also see an opportunity for code-share and partnership. So, you will sell beyond point-to-point. Any airline that wants to survive and grow, should not limit itself to point-to-point. The idea of ‘I can do it alone,’ is what is killing most of our local airlines. There is nothing stopping me from selling my tickets beyond point A to Point B,” Bernard said.

He also spoke about how the Minister of Aviation and Aerospace Development, Festus Keyamo, has revamped the image of Nigeria in the global aviation community through recent policies he has made, saying “Keyamo has created some level of awareness; you might say it counts for nothing, but for me, it counts for everything because every day, we are becoming more visible. We are being perceived as one of the active industries in Nigeria. Our Minister has made himself extremely visible. Part of the visibility he’s creating for us is what is making some people say they want to look at what is happening in Africa. Whether we like it or not, the Cape Town Convention (CTC) has yielded results and the impact is enormous and you can see this in certain areas. Let’s keep on being hopeful that in no time, we shall get there.”

He also said that export business through air freighting in Nigeria is not organized and noted that more people export goods overseas but the government is not harnessing the benefits.

“Who are the experts that we have brought to train our people in government and the practitioners on how export business should be done? Though we have the Nigeria Export Promotion Council (NEPC), they are the regulator, but even as a regulator, they don’t understand the in-depth knowledge of how the business is done.

“If anything has to change, they have to see those who are in the business. Packaging has been a major problem in Nigeria. Tell me who has created the awareness on how export should be packaged out of the country? Almost all our states have created their own airports. We might say they don’t know what they are doing, but it’s a major investment and it has major opportunities. The good thing is that all those airports can be converted to cargo airports for moving goods out of the country, but who is paying attention to it? Where are the warehouses at the airport to keep and preserve these goods? Bernard asked.

He remarked that the key to success for airlines is working together and becoming stronger as a united force, which will enable them to compete effectively with foreign airlines on international routes from Nigeria, which is currently dominated by international carriers.

Chinedu Eze

Ugwem Eneyo: The Visionary CEO of Shyft Solutions Driving Nigeria’s Energy Revolution

as Nigeria’s energy sector continues to evolve, one woman is making waves with her innovative approach and leadership. Ugwem Eneyo, the CEO of Shyft Solutions, is at the forefront of the country’s energy transformation, driving solutions that are changing the narrative. Eneyo shares her insights on the company’s strategic partnership with SteamaCo, a UK-based technology firm, and her vision for transforming Nigeria’s energy landscape. With her wealth of experience and expertise, she opens up on the challenges, opportunities, and prospects of the energy sector in Nigeria, and how Shyft Solutions is poised to make a lasting impact, in this interview with MArY

Can you describe Shyft Power Solutions and the specific impact it envisions making on Nigeria’s electricity landscape?

Shyft Power Solutions is an energy technology company that began its operations about a decade ago, aiming to help power companies deliver reliable, affordable and cleaner energy solutions. It is a known fact that the country is plagued with energy challenges, the intermittent power supply.

At Shyft, what we recognised was that these power companies now had, basically, assets, whether it is generators, solar, batteries, at many locations that they needed to maintain to keep power in buildings like this office, up and running. But you can imagine the challenge of scaling such a power company if you do not have visibility into what’s happening remotely. You would have to be sending staff out, you had to be seeing interruptions in what is going on, right? Somebody is calling you, saying, “Hey, the generator is down, what is happening?”

And so at Shyft, one of the first things we realized is that, for solutions like micro-grids, backup power, solar, battery technology to really scale through and meet the energy demands of Nigerians, the power companies that are delivering these solutions needed to be able to support, maintain and operate those types of solutions.

So Shyft Power Solutions got started by delivering, monitoring and controlling solutions for backup power systems and micro-grids. We specialize in building Internet of Things (IoT) IoT, to sensors, gateways, to basically monitor everything you can imagine about your energy systems, remotely, as well as the software applications that not only provide that monitoring but help the power companies to understand how to handle things like preventative maintenance, keep those systems up and running and also design and deliver more effective, cost-effective solutions for Nigerian businesses. How that business has emerged over the years, though, went from simply monitoring and control of assets to recognizing that the Nigerian consumers also wanted to feel empowered and understand “what am I paying for when I am buying power” Right? There is a lack of transparency that exists because of gaps in metering solutions and monitoring solutions.

So because of our expertise, again, in power, IoT and software, we moved into the space of also providing, at the time we called it submetering, so metering solutions not necessarily at the utility or at the distribution company scale but for independent power producers, facility management companies, estates, where you as a homeowner or, let’s say, a commercial business want to understand how much energy “am I using,” being able to pay for it in more streamlined, intelligent ways like via mobile apps, and have transparency in what services you are being provided by your power company.

You have been operating for a decade amidst Nigeria’s persistent metering gap. How do you plan to bridge this gap and what strategies is your organization employing to address this issue?

Shyft was in the energy technology space but only recently started moving into the metering space in about the past three years. Prior to that, we were working with power companies, like I mentioned, for monitoring and control solutions for their infrastructure. and for their assets.

This has been an ongoing challenge, but part of what has been exciting about our merger with SteamaCo is that SteamaCo was bringing a lot of expertise in delivering metering solutions, certainly in the off-grid market, working with multiple stakeholders, institutions that fund and finance initiatives to address metering gaps in rural areas. And Shyft had quite a bit of experience working with power companies in semi-urban and urban areas.

We think right now joining forces is going to allow us to bring our expertise in working with institutions and investors that can fund

and bring the capital that is required to fund the meters that are needed to meet the gap. And Shyft brings the experience, the local knowledge and experience on how to work with power companies, what they need, how metering solutions should be built and scaled up to actually operate effectively in the market.

Shyft and SteamaCo coming together now are at the forefront of recognizing that for investors who are concerned about where they should invest in the energy landscape, this is where digital transformation is necessary. We need to be able to make data-driven decisions.

Investors need to be able to make datadriven decisions. So Shyft and SteamaCo are saying we are going to move power forward and deploy metering solutions because we know that there is an opportunity that is going to arise from having a better visualization from digitizing the energy landscape by deploying meters. And so we are really optimistic and excited about what that means and I do think that there has been quite a bit of movement in the power sector over the past two years. With more decentralisation, and states having more rights to do things, franchise models are empowering people. We are seeing more and more independent power producers emerging and scaling up and I think that alongside collaboration with the DisCos, we are really starting to see the proper momentum. So you are right, it has been slow movement over the past several years, over the past decade, but the ball is rolling, the momentum is here. We can see it happening as well as what has been happening in the regulatory space over the past 24 months.

What motivated you to establish Shyft Power Solutions in Nigeria despite the country’s power sector and business challenges?

Yes, this is actually moving into a more personal question. You might not realize that is what you are getting at. So, my family is from outside Port Harcourt, from the Niger Delta area and, so, we all know the history of how development, infrastructure, environment and how these things have impacted people, right? Nigeria is very wealthy when it comes to resources.

Companies come here to do business, thrive and often we do not necessarily

see that positively impacting the people and the communities. Growing up and seeing that and the impact that, that type of development had directly on my family, made me feel that I could play a very important role in building a power company that not only was focused on innovative solutions, building premium products and technology, but that also recognized that we are here to solve problems for people, for consumers.

It is not just about us being an impact company. We are not just about making money. And so as you can see probably from meeting with some of my team today, when Shyft got started, we are primarily Nigeria-based.

Most of our team members are Nigeriabased. We believe in global collaboration because we think that is important but I wanted to start a company that allowed the consumers, the people closest to the problems to be at the forefront of solving the problems.

And so, for me, I know that doing business in Nigeria is tough, but I am a Nigerian. I am Nigerian-American. Right?

So I have a privilege of being able to say that I want to be able to go home and positively contribute to my family and where I come from, and if not me, then, who? That was the rationale.

What’s the timeline for rolling out Shyft’s metering units to Nigerian communities?

That is a very good question because the work has long begun. So, Shyft metering solutions have now been in the Nigerian market for well over about two years. So, this building that we are sitting in today has monitoring controls and metering solutions that are deployed by Shyft.

We have at this point several thousand Nigerian consumers that are using Shyft FlexView, our sub-metering solution. And most recently, we collaborated with Eko Atlantic Utilities for the Eko Atlantic development, rolling out metering solutions for their development of that IPP. So we are already seeing consumers use Shyft technology.

We are very excited about the early momentum that we have. But you are right, there is a lot of work to do. And part of our merger and collaboration with

SteamaCo is allowing us to scale up and do that faster together.

Can you elaborate on Shyft’s partnership with SteamaCo and your shared objectives?

So there is a concept that started in academia but I think is now more commonly used called energy poverty, which is people are spending too much on power. And that power is a quality power. It is not reliable power. And it is not fully meeting the needs of its consumers.

We are on a mission to eradicate energy poverty. And we think the method of doing so starts with ensuring that power companies can provide productive power. That means power companies need to be able to be reliable in the services that they provide.

And in order to do that, there is a suite of digital solutions that are necessary. That is advanced metering infrastructure. It is the software applications that they are able to use to not only handle billing and collections but to detect losses and abnormalities in the system.

That also means being able, as I mentioned earlier, to monitor their infrastructure, monitor their assets, mitigate interruptions and quickly address interruptions in their infrastructure. So together, Shyft and SteamaCo companies’ merger will bring their expertise in metering solutions, especially in collaborative micro-grid projects, projects that bring in multinational stakeholders using Shyft local expertise in IoT and software.

Together, we are working with power companies to really drive digital transformation. So I think the key theme there is the digital transformation of the power sector, of utilities, turning things from manual operations, from what we call dumb, not because it is not smart but because it is not digitized. We are trying to transform that.

And we think if you can drive operational efficiency, if you can prevent losses, if you can drive transparency and reliability with consumers, that is really going to allow the power sector to move forward.

How does Shyft Power Solutions define innovation in Nigeria’s power sector?

That is a very good question. I would like to give you a short answer, but of course I am going to give a little bit of a story. You know, there is a story about the inventor and what they need. This is before the automobile. They would have said, you know, I need a faster horse. That is innovation. Help us breed faster horses. But then comes along the likes of Henry Ford and whatnot, and the response was not a faster horse. It was not any type of genetic engineering.

Instead, it was the vehicle, and the engine, and then all the innovation that came around from that. And I think that really speaks to the spirit of innovation. For Shyft innovation is about intimately understanding the nature of the consumer’s problem and not starting at what we believe is a solution, right? And so that is why, again, our collaboration is so unique because we are bringing together folks who are brilliant engineers, brilliant developers, brilliant businessmen and women, as well as also bringing in folks who are brilliant but also bring forth local knowledge and intimately understand the challenges that Nigerians face. We live it. Right? The people, who are building our products, are living and experiencing the problems that we are trying to address. And so for us, innovation is responding to the root problem and building things that, at Shyft, we say one of our core values is we take on what others call impossible. That is what innovation is about.

It is about when people say, “Oh, how are you going to do this in Nigeria?” Nigeria does not work like this. That is okay. That is exciting to us.

That is what we lean on to. So what I am saying, this power sector thing, nothing has really progressed and moved for nearly 10 years.

NNAH

Eneyo with MD SteamaCo, Tom Parkinson

Our 2025 Goal to Drive Change, Development Through Peace Building — Amafibe

Like several other organisations, Peace ambassadors agency in partnership with davdan Peace and advocacy Foundation a nongovernmental organisation dedicated to the advancement of unity and peaceful coexistence, has rolled out its plan for the year 2025, aiming to drive the frontiers of national development through an atmosphere of peace. in this interview, amb Kingsley amafibe, the CEO of Peace ambassadors agency, outlines the achievements of 2024 and the future of the organisation. Precious Ugwuzor brings excerpts:

Can we meet you?

My name is Amb Kingsley Amafibe. I’m from Delta State, and I’m the CEO of Peace Ambassadors Agency, Founder, Davdan Peace and Advocacy Foundation.

Publisher of 100 Most Notable African Leadership and Business Executive Magazine and author of three books, one of the fastest selling is the Rise of African Fashion Designers and Lifestyle. We started operations 14 years ago with a pageant show, followed by a lot of other activities. Such as Big Dreams Talent Show and Good Dreams Vocation Center. Last year was wonderful. Let me quickly summarize the major activities we had in 2024. I will say that 2024 was a great year. We ventured into a lot of creative activities, not only in Nigeria but also in other African countries. One of our major activities last year was the Northern Nigeria Peace Conference and Awards, where we aimed to unite Northern leaders by bringing them together on one platform to discuss positive and sustainable development in the Northern region of Nigeria. We also rewarded them for their contributions to peace and community development. That event was held in March.

Any other activity from last year?

Yes, we introduced the “100 Most Notable Peace Icons in Africa,” where we honored the former President of Nigeria, Dr. Goodluck Jonathan, and other prominent Nigerians, including the Governor of Zamfara State, Dr. Dauda Lawal, and the Governor of Kaduna State, Uba Sani, among others.

We also launched the “100 Most Notable African Leadership and Business Summit,” which was held in Kigali, Rwanda, from August 1 to 4, 2024. The theme of the summit was

“Driving Young Leaders to Become Great Achievers.” After the Kigali event, we hosted the Peace Achievers International Conference and Awards. We ended the year with an all-white party in December 2024 before my trip to Europe for relaxation.

What do you hope to achieve this year, 2025?

Every year, I sit down and plan how to execute the year’s activities. At the beginning of 2025, we held a church program, which I consider essential. We have many activities lined up for the year. A national peace walk is scheduled for March 1, 2025. Additionally, we will host the “100 Most Notable African Leadership and Business Summit” in Kigali, Rwanda, from July 4th to 6th 2025. After that, we will hold the Peace Achievers International

US-based Nigerian, Stella Okengwu Bags Biden Presidential Lifetime Achievement Award

United States-based Nigerian engineer, Mrs Stella Okengwu, has been honoured with the prestigious Biden Presidential Lifetime AchievementAwardinrecognition ofheroutstandingcontributionsto society and her efforts in fostering economicdevelopmentinNigeria. MrsOkengwuwasoneoffourdistinguishedpersonalitiescelebrated during the ceremony, alongside MichaelFlynn,DrAlvedaThomas, and Catalina Stube.

Theawardcomesatatimewhen Mrs Okengwu’s efforts to facilitate a $250 million investment into the NigerianeconomybyNigeriansin the Diaspora are facing challenges in her homeland. She has played a pivotal role in encouraging hundreds of Nigerians living abroad to repatriate substantial funds through the Winhomes Global Estate scheme. However, theinitiativehascomeunderthreat due to the diversion of the LagosCalabar Highway in Okun Ajah by officials of the Federal Ministry of Works.

Nigerians in the Diaspora have instituted legal action against the diversion, citing violations of the 2006 Gazetted Alignment and accusing the ministry of favouring individuals who unlawfully constructed on the designated section of the road. The group is urging adherence to due diligence tosafeguardtheirinvestmentsand restoreconfidenceindevelopment projects back home.

In response, Mrs Okengwu has expressedhercommitmenttosupportingtheRenewedHopeagenda of President BolaAhmed Tinubu. She has called on the president to intervene in the matter, emphasis-

ing the importance of protecting the interests of Nigerian Diasporans who are contributing to the country’s economic growth. Mrs Okengwu noted that such intervention would inspire greater confidence among Nigerians abroad to invest in the nation’s development.

This recognition of Mrs Okengwu’s efforts underscores herdedication to fostering progress and collaboration between Nigerians in the Diaspora and their home country, solidifying her position as a leader in championing transformative change.

Conference and Awards in October. This year, the US embassy granted me and my family a five-year visa at the start of the year. This truly surprised and delighted me. We will attend the United Nations Conference in New York on September 21. Our goal this year is to drive change and development through peace-building and unity. We call on all stakeholders to support this initiative. I often tell Africans that Africa is the next business destination. We have vast human and natural resources that we need to harness. All we need is good leadership.

Do you intend to partner the Ministry of Youth Development in Nigeria?

How do you think the issue of insecurity in the North can be tackled? We already have an existing partnership with the Ministry of Youth Development. Regarding insecurity in the North, the situation is beyond what we can imagine. However, our gallant military personnel are working hard to ensure peace returns to the region. I also appeal to the government to empower the youth. We have many talented young people in Nigeria. By supporting them, the government can help reduce unemployment, which is one of the factors fueling insecurity.

During your trip to Europe, can we expect any new business prospects? Yes, there are business prospects that we are yet to unveil. There are processes and procedures, such as registration and other requirements, that must be completed. When the time is right, we will share our plans.

Kobiro: Afrobeats, Like Reggae, Has Come

esther Oluku

InacelebrationofAfricanmusic’s ascendancytoglobalrecognition and an optimistic forecast for the future, Nigerian-American artist BryanOmoru,popularlyknown as Kobiro, has shared that the Afrobeats genre, like Reggae, has come to stay.

While tracing the evolution of Afrobeats,henotedthatthegenre has experienced tremendous growth over the last decade and stands a fair chance of remaining relevant in the future.

“Just the same way Reggae has had its longevity, I think Afrobeats is about to have a similar run. The genre, which originates from our side of the world, Afrobeats, Amapiano fromSouthAfrica,andGhanaian music, is here to stay.

“It’s infectious music. You listen to it, and you can’t help but dance and move your body. Even if you don’t understand the lyrics, you love it. The sky is the limit for Afrobeats at the moment.It’samazingtoseehow everything has blossomed for the genre.”

Kobiro, who is an R&B and Afro-fusionmusicianaddedthat following his return to Nigeria and in his pursuit to establish himself within the Nigerian music scene, he is focused on forging organic collaborations driven by talent and merit.

While in America, Kobiro strategically aligned himself with the art and social circles in Arizona although he was born in Houston Texas. He leveraged professional relationships to perform twice at the National

to Stay

Basketball Association (NBA) events, connected with music industrycoaches,andmaintained his African roots by keeping abreast with African artists’ concerts and trends. In 2019, he released his first EP, Recovery.

Speaking about his current projects, he said: “Now, I’m at a point where I’m home, and I’ll be focusingonR&BandAfro-fusion. I’d love to do collaborations. I’ve always had the mindset to collaborate, but I want to earn them. I don’t want to come to Lagos this week and feature a big artist nextweek—no,Idon’twantthat.

“I want it to be organic. When I’ve put in the time and effort, and some of my favorite OGs in the gamehearmymusic,Iwantthem

to say, ‘Who’s this guy? I’d like to work with him.’ That’s the kind of authenticity I’m aiming for.”

In this interview with THISDAY, Kobiro shared some of his favorite artists he hopes to work with in the future. He said: “Chris Brown is my favorite artist. He has been since I was 12 or 13 years old. The second would be Stormzy from the UK. I’d love to work with him. He’s my favorite rapper at the moment.

“My Nigerian R&B roots are important to me as well. Tiwa Savage and Burna boy. With Tiwa Savage, I think we would create something amazing together.”

Amafibe

Engr Okengwu with her award

Kobiro

CIS Unveils Plans to Promote Securities Market, Attract Young Professionals

Kayode Tokede

The President of Chartered Institute of Stockbrokers (CIS), Oluropo Dada, has outlined the Institute’s strategic plans to promote the importance of the securities market and attract young professionals to the industry.

He disclosed this during his welcome address at the Institute’s Review of the Economy and Outlook for 2025 Themed: “Shaping Nigeria’s Economic Future: Key Trends, Impacts and Strategic Solutions for 2025.”

Dada, emphasised the need to raise awareness about the benefits of investing in the securities market and the career opportunities available in the profession.

We shall aggressively direct our advocacy into many development issues, including passage into law

of the Chartered Institute of Securities and Investments of Nigeria (CISI) Bill, improved operational environment that will enable Stockbrokers earn greater income, “We shall work in partnership with the Association of Securities Dealing Houses of Nigeria (ASHON), attract greater government attention to the development and utilisation of the capital market. work with NGX on the review of capital float for listed companies, lunch of the Institute’s e-Library and contribute to the preparation of the Nigerian Gold Reserve (Establishment) Bill,” stated Dada.

He also explained that the Institute wouid partner with more universities to enhance the study of Securities and Investment at the Bachelor’s Degree and Post Graduate levels. According to him, this

collaboration aims to equip students with the necessary skills and knowledge to succeed in the securities and investment profession.

Director, African Development Institute, African Development Bank Group, Dr Eric Ogunleye, who reviewed the global political and economic environment and outlook for 2025, explained that market pricing in the petroleum sector had opened- up new business opportunities in the renewable energy.

“Economic reforms are demonstrating progress with the shift to external competitiveness, though inflation and the sharp rise in the cost-of-living will make it challenging to implement politically difficult reforms, such as the tax reforms. Reform focus to shift towards fiscal and tax policies, social protection, and improving the investment environment,” Ogunleye said.

Sule Asks Chinese Manufacturers to Set-up Workshops/Training Centres in Nasarawa

The Nasarawa State Governor, Abdullahi Sule, has called on Chinese farm equipment manufacturer (LOVOL) to consider setting up workshops and training Centres in Nasarawa state.

The governor said doing so will be in line with his administration’s strides to revolutionize agricultural practices in the state for food security and job creation.

Sule spoke in Weifang, China during a meeting with officials of a Chinese leading

equipment manufacturing company(LOVOL)

He Said: “Nasarawa’s fertile lands, teeming youth population and technology are factors I am deliberately targeting to drive agricultural production”.

He added that his vision extends beyond equipment procurement to having service centres that will also help with training and retraining of citizens in Nasarawa state.

In his remarks, the leader of the LOVOL delegation said the company’s inter-

est to set up in the state is anchored on the seriousness exhibited by the state as an agricultural hub.

He expressed LOVOL’s strong desire to partner with the Nasarawa state government.

Governor Sule after the meetings inspected several technology driven harvesters and other equipment at the factory.

LOVOL had invited Governor Abdullahi Sule to inspect its products and discuss partnership that will boost agriculture in the state.

Firm Collaborates with Sterling Bank to Launch EV Tricycles

Dike Onwuamaeze

In a groundbreaking move that would position Nigeria at the forefront of sustainable innovation, Qoray Mobility and Energies Limited (QMEL), in partnership with Sterling Bank, has unveiled a payment plan that would enable prospective buyers to own a seven-seater EV tricycle with 10 per cent down payment and spread the balance over a minimum period of three years.

The Qoray EV tricycle, which was unveiled in Lagos on Monday, could run for 12 hours and cover 100 kilometers before swapping its discharged battery at designated centres.

The Managing Director of QMEL, Mr. Olabanjo Alimi, described the distance that could be travelled by the Qoray tricycle as a potential “Guiness

World Record attempt for the greatest distance covered by an electric autorickshaw/ tuk-tuk in 12 hours. In our local paillasse, we call the vehicle ‘Keke.”

Speaking at the unveiling of the EV tricycle at the Sterling Bank’s headquarters in Lagos on Monday, Alimi stated that the launch of the EV tricycle is a clear declaration that electric mobility is not just viable but essential for a sustainable tomorrow.

He said: “This is bigger than a record attempt; this is a revolution. It is about breaking barriers and proving that Africa can lead the charge in global sustainability efforts.We’re demonstrating that electric vehicles are not just concepts - they are the future, thriving under real-world conditions and solving last-mile transportation challenges across industries.”

He added that Qoray has

already blazed trails with its first-ever solar-powered electric vehicle battery swap stations in Kano State last year, which spotlighted the locally assembled Qoray Teak EV tricycle as a game-changer in Nigeria’s journey toward sustainable transportation.“

Speaking in the same vein, the Group Head of Mobility at Sterling Bank, Mr. Akin Akingbogun, said that “this is not just about distance; it is about redefining what is possible.

He said, “From meticulously selecting the drivers to rigorously testing the Qoray Teak, this attempt embodies innovation, collaboration, and a relentless commitment to excellence.”

The Qoray Teak is a marvel of local engineering, offering 60-70 per cent operational cost savings compared to traditional petrol-powered vehicles.

PMI, ITU Sign Agreement to Advance Project Management Excellence

Project Management Institute (PMI), the leading authority in project management, and the United Nations specialised agency for ICTs, the International Telecommunication Union (ITU), have signed a collaboration agreement to enhance project governance, implementation, and the development of future-ready skills within ITU’s global initiatives. The partnership is grounded in a shared vision to deliver measurable outcomes across key strategic

priorities.

“We believe that effective project management is critical to addressing Africa’s unique challenges, particularly the significant connectivity gaps that persist across the region,” said George Asamani, Managing Director for Sub-Saharan Africa at PMI. Director, Telecommunication Development Bureau (BDT) at ITU, Dr. Cosmas Luckyson Zavazava highlighted the collaboration’s

significance: “In BDT, we work to connect the world by fostering digital inclusion and bridging connectivity gaps, particularly in underserved regions. This partnership reinforces our efforts by aligning with the leading authority in project management. By working together, we can ensure that our initiatives remain at the forefront of global best practices, enabling us to deliver projects efficiently, effectively, and with lasting impact.”

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).

Group Chairman, Mutual Benefits Assurance Plc, Dr. Akin Ogunbiyi(middle) flanked by two former Commissioners of Insurance, Fola Daniel (left) and Sunday Thomas (right) at the 29th Year Thanksgiving Service of Mutual Benefits Assurance Plc in Lagos...recently

Igbawase Ukumba in Lafia

Transcorp Power Achieves Unprecedented Growth, Declares N37.5bn Dividend

Nume Ekeghe

Transcorp Power Plc has solidified its reputation as one of Nigeria’s leading power operators with the declaration of a N37.5 billion dividend for the 2024 fiscal year.

This announcement follows a year of remarkable financial achievements, signaling the company’s unwavering commitment to rewarding its shareholders while maintaining robust growth.

The company’s latest audited results, submitted to the Nigerian Exchange (NGX), highlight exceptional performance across key financial metrics. For the year ending December 31, 2024, Transcorp Power reported a profit after tax of N80.01 billion, a staggering 165 per cent increase from the N30.23 billion recorded in 2023. This profit growth reflects the company’s strategic execution and operational efficiency in an evolving market.

Transcorp Power’s revenue surged by 115 per cent, rising from N142.1 billion in 2023 to N305.9 billion in 2024. The company’s gross profit also saw significant growth, increasing by 89 per cent from N75.4 billion to N142.2 billion within the same period.

The company’s improved profitability translated into a full-year dividend payout of N5.00 per ordinary share. This total dividend comprises an interim dividend of N1.50

per share declared earlier in the year and a final dividend of N3.50 per share, reflecting Transcorp Power’s dedication to delivering consistent returns to its shareholders.

Chairman of the Board, Emmanuel Nnorom emphasised the importance of this milestone, stating, “Transcorp Power has become one of Nigeria’s most formidable power operators, committed to bridging the energy gap in the country and contributing to

the nation’s economic growth. This financial performance reflects our unwavering commitment to our shareholders and stakeholders. We remain steadfast in our pursuit of value creation and assure our investors of continued robust returns.”

Transcorp Power’s operational efficiency was further demonstrated by a significant reduction in its gearing ratio, which dropped from 64.48 per cent in 2023 to 29.70 per cent

in 2024 following the complete repayment of its USD loan. This improved financial stability has enhanced the company’s capacity to reinvest in growth initiatives and strengthen its balance sheet. Additionally, return on equity increased from 52.25 per cent to 63.19 per cent, while return on assets rose from 13.53 per cent to 20.17 per cent, underscoring the company’s ability to generate value from its assets and investments.

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 22 January-2025, unless otherwise stated.

MEDIA BRIEFING AND AWARDS CEREMONY...

L-R: Deputy Superintendent of Police Grace Ibok; Assistant Comptroller of Customs, Ramatu Musa; Editor, Sunday, THISDAY Newspapers, Mr. Davidson Iriekpen; Commander, Tincan Island Port Strategic Command, National Drug Law Enforcement Agency, Mr. Ofoyeju Mitchell; Deputy Director, Department of State Services, Tincan Island Port, Mr. Kayode Sunday; Assistant Comptroller of Customs, Tincan Island Port, Okoi Omini, at the NDLEA’s 2024 media briefing and awards ceremony at the Tincan Island Port, Lagos…yesterday

PDP: We Are Set to Reclaim Presidency

14 out of 17 members back Udeh-Okoye as National Secretary, recognise Fubara

Peoples Democratic Party (PDP) has assured Nigerians that it is set to regain the seat of governance in Nigeria, which it lost to All Progressives Congress (APC) in 2015, not only at the federal level but also in the states, in 2027. PDP also commended Rivers State Governor Siminalayi Fubara for restor-

ing stability in the party in the state, despite the forces of destabilisation.

National Treasurer of PDP, Ahmed Mohammed, made the assertions Wednesday night, during a closeddoor meeting with the governor at

Government House, Port Harcourt. Mohammed affirmed the party's satisfaction with Fubara as leader of Rivers PDP.

The PDP National Working Committee (NWC) had visited Fubara,

who is also Deputy Chairman of PDP Governors' Forum, as part of the NWC’s consultative meetings with party leaders and governors to exchange ideas and explore ways to reposition the party.

NDLEA Intercepts N134.2 Billion Drugs at Tincan Island Port in 2024

Honours THISDAY editor for tenacity, dedication to anti-drug abuse public enlightenment

Aurthor Ariye

The National Drug Law Enforcement Agency (NDLEA) yesterday disclosed that the Tincan Island Port Strategic Command intercepted narcotic drugs worth N134.2 billion in 2024.

This was disclosed by the Commander of Narcotics, Mr. Ofoyeju Mitchell, during the command’s 2024 media briefing and awards ceremony held at the Tincan Island Port, Lagos.

The operational results, he said, have helped to insulate the economy from the adverse effects of criminal proceeds and promote public health and safety.

“The year 2024 presented us with many challenges, but through teamwork, strategic planning, and intelligence-led operations, we have achieved remarkable milestones by disrupting the illicit drug trade, promoting community engagement, and deepening collaboration with stakeholders,” Mitchell stated.

He noted that 38 drug suspects, including one female were apprehended during the period under review and a whopping seizure of 339,576.91 kilograms of illicit drugs were made.

The commander listed the breakdown as follows: codeine 305,323.37 kg; tapentadol 13,370 kg; tafradol 11,230.8 kg; benzhexol 5,888.8 kg; cannabis indica 3,601.25 kg; methamphetamine 83.301 kg; cocaine 56.39 kg; and heroin 23 kg.

He also revealed that a total of 12 convictions were secured while no fewer than 26 cases are pending at the law courts.

“Drugs and crime are intertwined. It is either the cartels are using proceeds of drugs to fund their acts of criminality or they rely on the influence of drugs to perpetrate heinous activities. This obviously underscores the crucial role of the NDLEA at the seaports in disrupting drug supply chains and mitigating the impact of criminal acts in our communities.

“In January last year, we detected narcotic drugs, firearms, and ammunition in one container. The command will remain vigilant in protecting our country from the painful grip of kidnapping, gruesome murder, and related crimes that are aggravated by drugs.

“As frontline gatekeepers, we understand that these seizures and

arrests have significantly contributed to the relative peace enjoyed by citizens across the length and breadth of our beloved country. It has equally enhanced a conducive environment for the ease of doing business in the maritime industry.

“Our mandate is to encourage legitimate commerce and eliminate any act of criminality that is injurious to economic growth. This is our modest contribution to national security, and we will leave no stone unturned until Tincan Island port is completely impenetrable by the drug trafficking cartels,” Mitchell stated.

According to him, “In addition to enforcement measures, the NDLEA also focused on public education through the War Against Drug Abuse (WADA) campaign. This involves community awareness programs to educate the public about the dangers of drug trafficking and abuse.”

Mitchell also disclosed that the impressive scorecard was made possible through our shared commitment to promoting zero tolerance for drug trafficking, local and international collaboration, intelligence sharing,

Statistics Paint Grim Picture of Food Security in Nigeria, Says Media Trust Chair

We’re tired of saying our nation has potential, minister declares Country needs to do a lot to achieve food security, AFAN President asserts

Chuks Okocha in Abuja Chairman of Media Trust board of directors, Malam Kabiru Yusuf, has said recent statistics in Nigeria, painted a grim picture of food security in the country.

Yusuf stated this at the 22nd Daily Trust Dialogue with the theme: “Food Security: Availability or Affordability,” held yesterday at NAF Conference centre, Abuja

He said, “Why are our citizens not having enough food to eat? This is why we are here. That is the question.

Statistics in Nigeria paint a grime picture and the anecdotal evidence. look around you. We may change things we take for granted.

“We have to look at this issue. How do we cross this divide, if it exists? I don’t know what the expert will say between availability or affordability. We are not producing enough because people cannot afford.”

Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, said Nigerians should be tired of saying the country has potential, stressing that it was time to activate that potential.

Speaking at the 22nd Daily Trust annual Dialogue and Presentation of Daily Trust Unsung Heroes (2024), the minister said Agriculture policies should address the issue where people produce for only family consumption with little to sell.

He said there was need to change the way people do things in the agricultural sector, for them to get a different outcome, and therefore called for large-scale dry season farming, saying it was the only way to tackle food shortage and affordability.

and efficient deployment of our sniffer dogs with unprecedented capabilities to detect concealed drugs.

At the event, deserving outstanding officers were recognised with special awards for their excellence and commitment to service.

Commander Mitchell presented the award which ranged from Most Productive Officer-in-Charge to Best WADA Media Partner of the Year.

He noted that the awards are designed to encourage best practices, enhance operational efficiency, and foster a culture of accountability and transparency among officers.

“Similarly, we have rules of engagement that address actions against discipline.

The list of awards and the recipients include the Most Productive Officerin-Charge of the Year won by ACN Adefunke Akindele, Most Enterprising Officer of the Year won by ACN Muje Stephen, WADA Facilitator of the Year won by ACN Salihu Isa Machi, and Most Dedicated Officer of the Year won by CSN Audu Samuel, while the Best Dressed Officer of the Year went

to SNA Mohammed Musa.

He also presented the Best WADA Media Partner of the Year to Mr. Davidson Iriekpen of THISDAY Newspapers for his tenacity and dedication to anti-drug abuse public enlightenment.

The event also marked the launch of the inaugural edition of the Tincan Strategic Command quarterly newsletter. This publication aims to inform stakeholders of the command's operations, community engagement activities, and significant achievements while promoting greater collaboration in the fight against drug abuse.

"The dynamic drug trafficking trends have kept us on our toes. Apart from cannabis indica that is imported from Canada and the United States, pharmaceutical opioids from India, cocaine is imported from South America, and heroin comes from the far east, like Pakistan and Iran. Within the period under review, we discovered the first shipment of methamphetamine from Canada. We will continue to monitor the trend and thwart every criminal manipulation," he assured.

as Rivers leader

Speaking with journalists after the meeting with Fubara, Mohammed said, "There was a court ruling that dissolved the purported party congresses held in the state (Rivers), and other leaders were appointed to pioneer affairs of the party.

"We came to appreciate the doggedness of the governor in ensuring that the PDP is becoming more stabilised and focused in Rivers State.” He stated that they had earlier visited Bauchi State Governor, Senator Bala Mohammed; Oyo State Governor, Seyi Makinde; and their Bayelsa State counterpart, Douye Diri. Mohammed said the essence of the visits was to assure Nigerians that the party was coming together to ensure that in 2027, PDP took over governance in Nigeria, not only at the federal level but also win more states. Meanwhile, members of the NWC declared their support for the appeal court ruling affirming Sunday UdehOkoye as PDP National Secretary. Mohammed said 14 out of 17 members of the NWC were in support of Udeh-Okoye’s leadership. He said there was no contrary judgement or ruling from a higher court to invalidate the appeal court’s decision.

According to Mohammed, “We are equally visiting these governors to assure them that the majority of the members of the NWC are with Okoye as the national secretary of the party and would continue to work with him, and we equally request the support and backing of the governors to accept this Court of Appeal judgement.

“As you are aware, up to this moment, there is no court that set aside the ruling of the appeal court, and this is a case that they don’t have any stay or whatever.

Commissioner for Budget and Economic Planning in Sokoto State, Dr. Abubakar Mohammed Zayyana, has unveiled the roadmap to drive the state's economic growth.

Speaking at a ceremony to unveil the roadmap, Dr. Zayyana said it was developed with input from all ministries, departments and agencies of the Sokoto State Government with a view to harness their planned activities for the proper economic drive of the state.

According to him, the 2025 roadmap will help to sustain the focus of Governor Ahmad Aliyu towards the development of the state.

"I told the management of the ministry that I am coming with a roadmap which is at the sketchy stage and needs their inputs for it to work effectively and to hold them accountable," the Commissioner said.

Dr. Zayyana stated that all the departments complied and provided details of their activities for 2025 fiscal year, their purposes, timelines, and cost implications where necessary.

He also said that the roadmap contained details of the risks that may likely hinder achieving the target goals as well as the proposed way out.

The Commissioner noted that directors and their subordinates

are expected to work assiduously for the success of the roadmap of their respective departments, saying that 100 percent result is expected from them.

Dr. Zayyana also explained that the plan would be integrated into software to alert department heads of upcoming tasks and equally enable him to assess their performance and identify areas of improvement. According to him, the software will send alerts to department directors via their email, ensuring they stay on track and avoid delays. He emphasized that the ministry's leadership is committed to supporting innovative ideas from staff members that contribute to the state's economic development.

Onuminya Innocent in Sokoto

Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt

PRESENTATION OF AWARD OF MOST OUTSTANDING CRISIS COMMUNICATION IN GOVT...

L-R: Special Assistant to the Director General, National Emergency Management Agency (NEMA), Hajia Rakiya Bello Umar; Convener, Lagos Digital PR Summit, Mr. Segun McMedal; Director General, National Emergency Management Agency (NEMA), Mrs Zubaida Umar; Chairman, Nigerian Institute of Public Relations (NIPR), Lagos State Chapter, Mrs. Comfort Obot Nwankwo; Director Planning, Research and Forecasting, NEMA, Dr. Onimode Abdullahi Bandele; and Director, Special Duties, NEMA, Hajiya Fatima Kasim, during the presentation of award of “Most Outstanding Crisis Communication in Government” by NIPR Lagos State chapter to NEMA DG in Abuja, on Wednesday

Police Neutralise Kidnappers of AIG Hakeem Odumosu's wife, Recover Ransom

James Sowole in Abeokuta and Linus

in Abuja

Operatives of the Nigeria Police neutralised kidnappers of Assistant Inspector-General (AIG) of Police Hakeem Odumosu's wife, and recovered the ransom taken before she was released.

Gunmen suspected to be kidnappers had abducted Odumosu’s wife from her residence in the Arepo area of Ogun State.

there is a lot of admiration and commendation for President Bola Tinubu for having led the Nigerian economy and society out of what he described as devastating, wasteful and very costly expenditure on various subsidies.

Having achieved that, he assured that Tinubu was determined to continue on the path of improvement of the Nigerian economy, stressing that investors were set to start pouring into Nigeria.

“In the oil and gas sector, once again, Nigeria is attracting the most investment within the context of Africa. It had fallen behind before. It is now back to the fore. And I think the same thing is happening in other areas of the Nigerian economy. All 19 major sub-sectors are growing. They are improving.

“And it is critical to emphasise that investors are lined up and ready to come in, not just foreign direct investors, but even Nigerian investors. And so I think the outlook is for a continued improved environment for investment that will increase the productivity and competitiveness of the Nigerian economy. It will grow the economy, create jobs and reduce poverty.

“And talking of reducing poverty, there is equal determination to maintain the social safety net and improve upon the delivery of help, particularly to the poor and the most vulnerable in the form of direct benefit transfers and other interventions that help to ease the cost of living. So the future is bright. The outlook is very positive,” he averred.

On the recent approval of a 50 per cent hike in telecom tariffs, he noted that it will help the telcos operate efficiently and that it will continue to undergo review.

“Well, I agree with you that there is a need to reflect the fact that over a 12-year period there has been a rise in costs, there has been inflation and that needs to be reflected of course in the business competition for the telcos, which of course they have regulated to an extent, their pricing is regulated. They're not just free to give any tariff that they want.

“So the cost of living increase that has occurred has to be reflected. But I think 50 per cent is a start and it's all about compromise and it's all about the timing and sequencing of some of these changes necessary as they are. And in this particular case, we want the telcos, who are a very critical

The kidnappers were said to have stormed the home of the Odumosus while shooting sporadically.

Confirming the incident in Abeokuta, spokesperson of the Ogun State Command, Omolola Odutola, said the command reacted swiftly to the abduction by deploying operatives to secure her release.

Inspector General of Police, Kayode Egbetokun, applauded the operatives and Ogun State Commissioner of Police, Lanre Ogunlowo, for neutralising the

aspect of the Nigerian economy, of the infrastructure offering that is part of the business environment in Nigeria, we want them operating efficiently.

“We want them terminating calls efficiently. We don't want dropped calls. We want good quality services from them. And at the same time, we want them growing, employing people and basically adding to the GDP of the country.

“And that's why this 50 per cent increase has come through. And I believe that it's a situation that will be looked at on a forward-looking basis as we go forward. There will continue to be review, consultation and discussion in this area,” he added.

The Governor of the Central Bank of Nigeria (CBN),Cardoso, disclosed that the bank was set to establish a compliance department by February. He said the move aimed at addressing past challenges, aligning with global standards, and building a more transparent and resilient financial sector that could drive the country's growth and development.

Cardoso spoke at the launch of the Nigerian Economic Summit Group’s (NESG) 2025 Macroeconomic Outlook Report in Lagos.

He said the department will be both inward and outward-facing, adding that it would be functional by the end of February.

He said the department would enhance market oversight by monitoring participants to ensure adherence to best practices, with penalties for those who fail to conform.

This initiative is expected to bolster investor confidence and create a more credible and efficient financial ecosystem.

The CBN also projects a 4.17 per cent GDP growth for the country in 2025, building on the 3.36 per cent growth expected for 2024.

Cardoso said the positive growth trajectory will be driven by the sustained implementation of government reforms, stable crude oil prices, increased domestic oil production, and enhanced refining capacities.

Also, has projected a 3.3 per cent growth for the Nigerian economy, driven by sustained policy reforms in 2025, predicting a relatively stable economy marked by exchange rate stability supported by the apex bank’s reforms in the FX segment which are expected to boost capital inflows.

kidnappers.

"We are committed to safeguarding Nigerian citizens and our dear country," Egbetokun said.

Announcing the development, in a statement, force spokesperson, Olumuyiwa Adejobi, promised to update the public on the rescue operation.

Adejobi stated, "In a commendable display of teamwork and swift action, police operatives attached to the Ogun State Command have successfully neutralised the kidnappers of Mrs.

The tax, and advisory services firm further predicated inflation to decline to 26 per cent, occasioned by tighter monetary policies and improvements in the country's FX market dynamics.

The firm gave its predictions during an executive roundtable on Nigeria's 2025 Budget and Economic Outlook, which it hosted in partnership with BusinessDay.

However, Cardoso said: “GDP growth is projected to rise to 4.17 per cent in 2025 from 3.36 per cent in 2024. This growth is anchored on stable crude oil prices, increased refining capacity driven by the Dangote refinery, and the revitalization of the Port Harcourt and Warri refineries. A stable exchange rate will also play a crucial role in maintaining this positive trajectory."

He further disclosed that Nigeria’s foreign exchange reserves exceeded $40 billion by the end of 2024, supported by $6 billion in foreign capital inflows and increased oil production. The country’s oil output is projected to reach 2.3 million barrels per day by mid-2025, further driving economic growth.

Highlighting the impact of the CBN’s foreign exchange policies, he noted that initiatives such as the Foreign Exchange (FX) Code and the Electronic Foreign Exchange Matching System (EFEMS) have boosted market efficiency and transparency.

The CBN governor said, “The introduction of the foreign exchange matching system and the foreign currency disclosure repatriation and investment scheme will enhance market efficiency and transparency, reduce the disparity between the Bureau de Change (BDC) and official exchange rates, and foster stability in the market. So far, we can see the result of a lot of those efforts on our market,” he explained.

Also, to strengthen diaspora remittances, the CBN granted approval in principle to new International Money Transfer Operators (IMTOs) and launched the non-resident BVN initiative. This move aims to provide Nigerians living abroad with access to banking services in their home country, fostering deeper engagement with the financial system.

He said, “The introduction of the foreign exchange matching system and the foreign currency disclosure repatriation and investment scheme will enhance market efficiency and

"On January 16, 2025, at approximately 9:45pm, four masked gunmen forcibly abducted Mrs. Odumosu from her Lexus Jeep outside her residence in Arepo, Ogun State.

"The abduction sparked an immediate response from the anti-kidnapping unit of the Ogun State Police Command, who commenced a thorough investigation and targeted pursuit of the kidnappers.

transparency. And reduce the disparity between the BDC and official exchange rates and foster stability in the market. So far, we can see the result of a lot of those efforts on our market.

"We are definitely going to strengthen our mechanisms to constantly be on the watchout for market participants and to ensure that all those who are in that market are subjected to the best practices and those who fail to conform would be appropriately dealt with.

"To boost diaspora remittances through formal channels the bank granted approval in principle to new IMTOs and also launched the nonresident BVN recently to enable Nigerians overseas to have access to banking services in the place of their birth."

He said, "This is a clear example of recent initiatives and products that we have launched in response to the dialogue we have had with many people overseas understanding their problems and opportunities they are looking for in Nigeria and able to make life much easier for them.

"I am very confident that we are going to see a very positive outcome. We are already seeing and the impact is already starting to show. The IMTOs and the foreign remittances are remarkable.”

“Our efforts have resulted in a significant milestone in 2024 with over $6 billion in foreign capital inflow into Nigeria external reserves exceeding $40 billion signaling growing investor confidence. Again we emphasize reserves going up not just in numbers but in quality."

Continuing, he said, “As we progress through 2025, we aim to ensure that the reforms and marketoriented policies will support a more competitive business environment. These developments carry significant implications for businesses operating in Nigeria requiring them to adapt to an evolving economic landscape.

"There is a lot to be said with the fact that we have found ourselves in a situation where the foreign exchange rate has adjusted, that has its negatives for especially for those that are so import dependent but it also has offered opportunities and that opportunity, I see a lot of foreign investors coming in to take advantage of it.

"At this stage our currency is a lot

"With the support of the Force Headquarters technical intelligence platforms, the Ogun State police operatives engaged in extensive surveillance of the creeks surrounding Arepo, gathering crucial information to track down the assailants.

“Their efforts culminated in a raid on January 23, 2025, at around 06:45 AM. The intelligence-led operation took the police to a creek in the swampy area of Ikorodu where the kidnappers were reportedly planning their next attack.

more competitive and the implications for exports and productive activity are significant in adapting to new economic realities.”

Meanwhile, Chief Economist and Director of Research and Development, NESG, Dr. Olusegun Omisakin, stated that Nigeria’s economy has the potential to achieve a 5.5 per cent GDP growth rate with sustained policy reforms. He emphasized that targeted measures could unlock the country’s economic potential.

International Monetary Fund’s (IMF) Resident Representative for Nigeria, Christian Ebeke, commended the CBN for not providing Ways and Means advances to the Federal Government in 2024, describing it as a welcome development. He urged policymakers to cushion the impact of economic reforms on vulnerable groups.

PwC however, expressed concerns that the country's growth prospects may be hammered by persistent economic headwinds, noting that the CBN was likely to maintain its monetary tightening stance during the year, leading to elevated interest rates to achieve long-term price stability.

Partner and Lead for PwC Strategy and Practice in West Africa, Mr. Olusegun Zaccheaus, said this could have implications for businesses, regarding higher financing costs.

PwC particularly raised concerns that fiscal sustainability may remain slightly elevated due to high debt servicing costs and significant fiscal deficits.

Zaccheaus further identified opportunities for businesses to capitalise on export markets in Africa and globally, enhance targeted value chains, and adapt to industry consolidation.

He said current efforts by the National Bureau of Statistics (NBS) to rebased the country's GDP may expand the economy, reducing the debt-to-GDP and tax-to-GDP ratios.

Nonetheless, he said underlying fiscal challenges, such as revenue deficits and rising debt servicing costs, could persist, further undermining growth potential.

According to PwC, an updated consumption basket would provide a more accurate measure of changes in the cost of living, enabling monetary authorities to set appropriate interest rates and implement targeted interventions.

"Upon arrival, the operatives encountered the kidnappers, who opened fire. In the ensuing confrontation, two of the gunmen were neutralised, while four others fled the scene, abandoning their operational weapons. "The victim, Mrs Odumosu, was rescued within the swampy creeks during the operation, unharmed. She is currently undergoing medical evaluation as a precautionary measure and has since been reunited with her family.

Zaccheaus also stated that while moderate revenue growth was anticipated, high energy costs and infrastructural challenges may drive up production and operational expenses. Moreover, he said FX reforms are projected to promote exports and improve Nigeria’s global competitiveness.

He added that increased crude oil refining capacity would reduce fuel imports, while demographic shifts and population growth could open opportunities in digital innovation, youth-oriented markets, energyefficient data centers, broadband expansion, and 5G adoption. According to him, "The African Continental Free Trade Area (AfCFTA) and other regional initiatives offer opportunities for businesses to explore new markets and boost exports.

"There is growing interest in value addition for processed agricultural products, which businesses can leverage."

He pointed out that regulatory capital requirements could drive mergers in the banking and insurance sectors, adding that businesses should prepare for such changes.

He said the rising cost of credit may dampen demand for high-value items and affect discretionary spending.

PwC Partner, Kenneth Erikume, also highlighted key factors expected to shape the county's industrial development in the medium-term, particularly policy reforms in agriculture, taxation, and special agro-industrial processing zones.

Erikume emphasised the importance of supporting compressed natural gas (CNG) adoption, small and medium-sized enterprises (SMEs), and tourism to foster growth. He also stressed the need for ease-ofdoing-business initiatives to attract investments and stimulate economic development.

For sector-specific growth, Erikume identified mining and quarrying as key areas, particularly the development and export of gemstones. To combat illegal mining, he recommended investments in surveillance technology.

He also suggested infrastructure improvements, such as constructing roads, hospitals, security institutions, and schools, as well as expanding the national fiber optic network by 90,000 km to enhance connectivity and facilitate trade.

Aleke

Odumosu, wife of Retired AssistantInspector General, AIG Hakeem Odumosu, and rescued her unharmed.

WALE EDUN: WHY NIGERIA DOES NOT NEED IMF LOANS

PROMOTING DIASPORA INVESTMENTS…

L-R: Chairman/CEO, NiDCOM, Hon. Abike Dabiri-Erewa; Secretary to Enugu State Government, Prof. Chidiebere Onyia, and Special Adviser to Enugu State

Ezekwu, during the zonal sensitisation and advocacy programme on Promotion of Diaspora Investments in Enugu...recently

IG Warns New Police Constables against Misconduct, Rights Violation

Decorates DIG Towuru with new rank, deploys mim to FCID

Linus Aleke in AbujaandSegun AwofadejiinBauchi

The Newly inaugurated Police Constables have been warned against involvement in professional misconduct and human rights abuses.

The Inspector General of Police (IG), Kayode Egbetokun, gave the warning while speaking at the passing out parade ceremony of 10,000 police constables of 2022

batch in Bauchi yesterday. “Abhor all forms of lawlessness, human rights abuse, and unprofessional conduct. Instead, utilize your authority to protect citizens, enforce laws, and apprehend criminals,” he said.

IG Egbetokun, who noted that the passing out parade was held concurrently across four police colleges and 12 police training schools of Nigeria, explained that the constables have been impacted

Outbreak of Strange Disease Reported in Niger

Laleye Dipo in Minna

An outbreak of a strange disease has been reported in four communities of Bida in Niger State leading to at least 30 victims being admitted for treatment at the Umaru Sanda General Hospital in the town.

One person has also been confirmed dead as a result of the attack by the disease.

It is said that so far the disease is not known to medicine but makes its victims to suddenly become weak and fall.

According to an eyewitness, the symptoms after attack also

include slumping into coma for several days, feverishness, weakness, numbness of the body nerves, inability to walk or talk coherently after waking up while a few patients foamed in the mouth when attacked.

The outbreak is more common in Ekoko, Tutijinba Banin Bida, Laruta and Edogifu areas of Bida town from where those attacked were rushed to the general hospital.

According to reports, one death has been reported but the outbreak has begun to cause panic among the affected communities and Bida town in general.

Ekiti Denies Existence of Sharia Court

Gbenga Sodeinde inadoEkiti

Ekiti State Government has denied the existence of either the Sharia Court or the proposed Independent Sharia Arbitration Panel in the state.

In a statement made available to journalists in Ado-Ekiti yesterday, the state Attorney-General and Commissioner for Justice, Mr. Dayo Apata (SAN), said that the Independent Sharia Arbitration Panel is not in the judicial structure of the state, noting that “Arbitration and/or Mediation issue is a QuasiJudicial matters which are regulated by Law” in the state.

Apata said there is existing legal structure in Ekiti State (i.e.

Customary Court, Customary Court of Appeal and High Court) that has been handling issues relating to Islamic, Christian and Traditional Marriages and inheritance without any rancour or agitation. According to him, “The Sharia Courts in the North are equivalent to the Customary Courts in the southern part of Nigeria wherein the appeals therefrom also goes to the Sharia Court of Appeal,” adding that “the state similarly has Customary Courts that hear customary cases as well as the Customary Court of Appeal that hears appeals from the Customary Courts.”

12 Lives Lost in Multiple Accidents in Kwara

Hammed ShittuinIlorin

About 12 people have reportedly lost their lives in a multiple auto crash that occurred at the Oko Olowo axis of the Ilorin- Jebba expressway in Kwara State.

The incident, according to THISDAY checks, occurred last Wednesday night involving a trailer and another vehicle on the expressway.

During the incident, it was gathered that at least 12 people were said to have died instantly while several other persons sustained

varying degrees of injury in the auto crash.

According to accounts by eyewitnesses, the accident occurred on Wednesday, at approximately 5:35 pm, when a trailer with registration number AYE 218 XC collided head-on with a motor vehicle with registration number TTN 556 XA.

The state Command of the Federal Road Safety Corps (FRSC) was yet to issue an official statement on the accident since it happened, except for confirmation got through telephone interview with a top official of the corps in the state.

with the necessary orientation to effectively address the complex security challenges facing the country while adhering to the principles of the law.

Represented by the Police Commissioner, Bauchi state Command, Auwal Muhammad Musa, the IG said that the passing out parade ceremony, marks the

culmination of six-months rigorous training programme that has pushed the recruits to their physical and intellectual limits.

“Our comprehensive and

research based curriculum has equipped them with fundamental policing ethics, norms, and practices, as well as modern law enforcement principles,” the IG said.

Medical Doctor Kidnap: We’re Now Endangered in Anambra, Says NMA

David-Chyddy Elekeinawka

Kidnapped neurosurgeon, Dr. Cornelius Onuigbo, who was abducted by gunmen on Tuesday night while entering his home in Nnewi, near Nnamdi Azikiwe University Teaching Hospital, has been released.

In the midst of the news of his release, medical doctors practicing in Anambra State have cried out, saying they have become target of kidnappers operating in the state THISDAY gathered that the kidnappers contacted Dr. Onuigbo’s family initially, demanding a ransom of N50 million, but later reduced it to

N10 million after intense negotiations. It was, however, not certain what was paid as ransom for his freedom.

Meanwhile, the Anambra State Chairman of the Nigerian Medical Association (NMA), Dr. Chukwuemeka Princeton Okam, while reacting to the release said medical doctors have become endangered species in Anambra, as some of their members have been targeted for abduction. Dr. Okam said: “Nobody is safe. These criminals may have known him or it could have been a coincidence, but the fact remains that doctors are becoming endangered species in this state.”

Retired Military General Calls for Responsible

Adedayo Akinwale in abuja

A retired military General, MajGen. Nnaemeka Maduegbunam, has called for responsible deployment of Artificial Intelligence (AI) in the country. He added that stakeholders should come together to advocate comprehensive frameworks that

guide the responsible deployment of technology.

Maduegbunam stated this yesterday in Abuja at the inaugural edition of The Next Big Thing Continental (TNBTC) 2025 AI Summit and Workshop programme, with the theme; “AI Orchestration: The Conductor’s Approach”, organised by Digital

Deployment of AI

Oxygen Hub in collaboration with Cosmopolitan University Collaborative Centre for AI.

He said AI is not merely a trend, but a transformative force that shapes the world.

According to him, as we witness exponential growth in processing power, data availability, and algorithmic sophistication, artificial intelligence is redefining how we interact with information, business, and even with one another.

Maduegbunam, who was the Chairman of the occasion, noted that these applications are vast, ranging from healthcare to finance, agriculture, climate science, among others.

Otu Engages Elders Forum, Pledges to Safeguard State’s

Boundaries

Bassey

InyanginCalabar

The Cross River State Governor, Senator Bassey Otu, has stated that his administration remains commitment to safeguarding the state’s territorial boundaries as well as tackling pressing challenges such as insecurity, infrastructure development, with a view to enhancing economic growth.

Speaking at a meeting with the State Elders Forum and key stakeholders, Governor Otu expressed heartfelt gratitude for their unwavering support and constructive input, stressing that their contributions are pivotal to fostering inclusive development.

Out, who disclosed his

administration’s strides in enhancing state security, particularly along states bordering the state, said the deployment of drones was for effective boundary monitoring, aimed at safeguarding the state’s territorial integrity.

“We are not surrendering an inch of our land to anyone. Cross Riverians are peaceful and loving people, but our kindness must not be mistaken for weakness,” Otu asserted. Commenting on the lingering herdsmen clashes in Odukpani, the governor revealed plans for a lasting resolution. He noted that many of these conflicts arise from avoidable misunderstandings, stressing his administration’s commitment to achieving lasting peace.

NRM Commends INEC, IPAC for Promoting Party Internal Democracy

SundayOkobi

The National Rescue Movement (NRM) has expressed its appreciation and commendation to the Independent National Electoral Commission (INEC) and the InterParty Advisory Council (IPAC) over what it described as their firm position and support for the rule of law and internal democracy.

The commendation was given at the consultative meeting with political parties which held at the INEC headquarters in Abuja.

Meanwhile, INEC noted that political parties should abide by their constitutions when nominating candidates for elections, disciplining members, and changing leadership.

It added: “Adhering to party’s constitutions and the rule of law will help reduce crises that hinder the progress of our developing democracy.”

In similar vein, in a statement issued by Obidike Okolo, acting National Secretary NMC, IPAC equally noted that: “The most outrageous of this is the recent attempt by undemocratic forces to hijack the leadership of the National Rescue Movement (NRM) on January 17, 2025, in Abuja, led by Chief Edozie Njoku, the former factional APGA National Chairman who was recently removed from office on November 27, 2024, by the Supreme Court which restated Sly Ezeokenwa as the authentic national chairman of the party.

Wakanow CEO Charts Course for Africa’s Travel Revolution

In an exclusive interview with CNN’s Marketplace Africa, the Chief Executive Officer (CEO) of Wakanow Group, Adebayo Adedeji, shared his ambitious plans to transform Africa’s travel industry into a catalyst for economic growth and regional integration. Adedeji highlighted how leveraging

technology, strategic partnerships, and support for local businesses can redefine the African travel landscape.

“Travel within the continent has the potential to not only enhance connectivity among African nations but also spur job creation and stimulate local economies,” Adedeji stated during the interview, emphasising the significant yet untapped potential of intra-African travel.

According to him, a key focus of Wakanow’s strategy is the adoption of fintech solutions aimed at breaking down financial barriers to travel.

“Our goal is to remove barriers to travel, and fintech plays a critical role in making this a reality,” Adedeji explained. “By offering travelers flexible payment plans, Wakanow is not only enabling more people to explore the continent but also driving growth within the local tourism economy,” he added.

Group Gives Wike 7-Day Ultimatum to Halt Collection of Signage Fees in Area Councils

Alex Enumah in abuja

A civil society group, the Centre for Reform and Public Advocacy, has threatened to drag the Minister of the Federal Capital Territory (FCT), Mr. Nyesom

Wike to court within seven days if he does not stop the collection of outdoor advertisement and signage fees in the six Area Councils of the FCT.

The group, in a letter to the FCT Minister dated January

22, and copied to the Director, Department of Outdoor Advertisement and Signage, said the collection of the said fees by the agency was not only illegal but amounts to economic sabotage.

According to the lawyer to the group, Mr Kalu Kalu Agu, who signed the letter, the issue of outdoor advertisement and signage collection which is a constitutional matter is well outside the powers of the agency.

Governor on Diaspora Matters, Barr Olangwa

Monarch: 577 Killed in 141 Violent Attacks in Benue

George Okoh in Makurdi

A Benue traditional ruler in Geer Local Government Area of Benue State, Daniel Abomtse,

CHANGE OF NAME

I, formerly known and addressed as NdiaNekwute JosephiNe ChiNasa, now wish to be known and addressed as Nwaru JosephiNe ChiNasa All former documents remain valid. The general public should please take note.

I, formerly known and addressed as miss aJiBike deBorah ayaNBaJo, now wish to be known and addressed as mrs aJiBike deBorah solaJa. All former documents remain valid, Ikeja Electric (I.E), and the general public should take note.

I, formerly known and addressed as samsoN eNo umoh, now wish to be known and addressed as sampsoN eNo umoh. All former documents remain valid. The general public should take note.

I, formerly known and addressed as tiNa oGoChukwu okpalike, now wish to be known and addressed as okpalike auGustiNa ekwutosi. All former documents remain valid. The general public should take note.

I formerly known and addressed as emioluwa tuyole olaJoyeGBe, now wish to be known and addressed as teledalase emioluwa olaJoyeGBe All former documents remain valid, Nigeria Immigration Services and all relevant organisations should take note.

I formerly known and addressed as NathaNiel akiNsaNmi olaJoyeGBe now wish to be known and addressed as NathaNael akiNsaNmi olaJoyeGBe All former documents remain valid, Nigeria Immigration Services and all relevant organisations should take note.

I formerly known and adressed as aNuGwara ChiNoNso preCious now wishto be known and addressed as alariBe ChiNoNso preCious All other documents remain valid. The general public should please take note.

I formerly known and addressed as miss NwaNNeka aruoriwo now wish to be known and addressed as mrs. iBiroNke aruoriwo akiNola All other documents remain valid. The general public should please take note.

I formerly known and addressed as aGBoNsasa mulikat adeBola now wish to be known and addressed as aBdulaZeeZ mulikat adeBola All other documents remain valid. The general public should please take note.

I formerly known and addressed as miss amiNa asaBe aBu now wish to be known and addressed as mrs amiNa asaBe adams eBute All other documents remain valid. The general public should please take note.

I, formerly known and formally addressed as samuel asuquo udoh or asuquo samuel udoh, now wish to be called, known and addressed exclusively by my first and last names, samuel udoh. All documents bearing my former names renain valid. The general public is hereby informed and advised accordingly.

We, FraNCis ikedi udeh (Chairman), peter Chukwu (Vice Chairman), adimChi oNwu (Secretary), natives of uGwuNaGBo in Ugwuawuru Autonomous Community, Umuaku Isuochi in Umunneochi LGA, Abia State, were formerly known and addressed as eZiaGBo, now wish to be known, called and addressed as uGwuNaGBo All former documents remain valid. The general public should please take note.

has confirmed 577 deaths in 141 violent attacks in his domain within the last 13 years. He made this known on the occasion of the formal flag-off of the resettlement of Internally Displaced Persons (IDPs) at their ancestral lands yesterday in Naka, Gwer West Local Council.

The monarch noted that for over 13 years, the IDPs were unable to set foot in their

ancestral homes since the first documented attack on February 8, 2011.The state government had begun a tentative resettlement of IDPs, with the first batch in Gwer West council area.

Technical Adviser to Governor Hyacinth Alia on Media and Strategic Communications, Solomon Iorpev, who led the government delegation, said his principal’s homegrown security approach was yielding results.

Former Delta SSG, Macaulay, Hails Tinubu over Isoko Sons’ Oil Block Win

Former Secretary to Delta State Government(SSG), Comrade Ovuozourie Macaulay, has expressed sincere appreciation to President Bola Ahmed Tinubu for putting in place an open and transparent process in the 2024 licensing round that gave room for the successful bid of Isoko sons’ companies.

The bid process took place last May and High Chief Emonena Victor Egukawhore popularly known as Wayles, who is Chairman of Dewayles International Limited and Chief Henry Ojogho, the Chairman and Founder of Broron Oil and Gas Limited were successful in the bid.

Commenting on this development, Macaulay, who is also a chieftain of All Progressive Congress (APC), emphasised that it is President Tinubu’s singular act of providing a level playing field for all bidders that enabled the Isoko sons to successfully bid and won the oil blocks.

This according to him, is a clear break from the past when oil blocks were allocated for other reasons rather than merit.

Macaulay noted that this is a landmark achievement for Isoko Nation, the second ethnic nationality where oil was discovered in 1958, after Oloibiri in Bayelsa in 1956.

Bayelsa Warns Miscreants to Steer Clear of New Bus Terminal

Olusegun Samuelinyenagoa

In a swift reaction to some concerns raised by transport unions and other stakeholders over the use of the new Bayelsa State-owned bus terminal at Igbogene, the state government has promised that it would immediately set up a crack taskforce to deal with touting and other unwholesome activities in the area.

The state Deputy Governor, Senator Lawrence Ewhrudjakpo, gave the assurance at separate meetings with officials of the National Union of Road Transport Workers (NURTW), the Road Transport Employers’ Association of Nigeria (RTEAN) as well as public

‘President

and private transport companies in the Government House, Yenagoa. Ewhrudjakpo, who warned miscreants to steer clear of the Bayelsa Ultramodern Transport Terminal, Igbogene and the Ekeki Park in their own interest, maintained that government would not hesitate to bring the full weight of the law upon anyone found flouting its laws and operational guidelines set for the facilities.

According to the deputy governor, the joint taskforce will work hand in hand with the police and other law enforcement agencies to ensure the effective implementation and compliance with the state government’s transport policies.

Tinubu is Fixing Nigeria for Good Governance’

Yinka Kolawole in Osogbo

The Executive Director, Marine and Operations at the Nigerian Ports Authority (NPA), Olalekan Badmus, yesterday reiterated that the administration of President Bola Ahmed Tinubu is working tirelessly to put the nation’s economy back in shape and deliver good governance to the people.

The executive director, who made the remarks while speaking on his one year in the office, also urged Nigerians to join hands with President Tinubu to achieve all of his good

intentions in the Renewed Hope Agenda.

According to him, “President Tinubu has been trying to conscientiously fix the nation in all ramifications, therefore let’s all Nigerians give him full support.”

He tasked the citizenry to key into the agenda of President Tinubu in his glaring efforts to change the fortune of this nation as there cannot be another viable alternative.

Badmus appealed to all the stakeholders and leaders of the party to rededicate themselves towards the viability of the party.

Faecal Sludge Mgt: Bauchi Appreciates UNICEF, Other Donor Agencies for Technical Support

Bauchi State Government has expressed appreciation for the technical support it is receiving from United Nations Children’s Fund (UNICEF), WaterAid Nigeria and other donor partners making the state to be among the leading states to attain safely managed sanitation in Nigeria.

The state Commissioner for Housing and Environment, Rt Hon Danlami Ahmed Kawule, expressed the appreciation in his opening remarks at a one-day programme on Faecal Sludge Management (FSM) Strategy Implementations in Bauchi State,

an understudy by Gombe and Plateau States held on January 22 in Bauchi organized by the Bauchi Field Office of the United Nations Children’s Fund (UNICEF) at the Hazibal Suites, Yelwa, Bauchi. Danlami Kawule stated that: “The Climate Resilient Fecal Sludge Management implementation Strategy 20252030 document developed by the Bauchi State Environmental Protection Agency (BASEPA) with support from UNICEF, served as a roadmap to fortify the resilience of our sanitation systems against the backdrop of Bauchi’s unique environmental challenges”.

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

Powerful Lessons on Knowledge and the First Revelation (I) WORLD OF ISLAM

By: Spahic Omer/IslamiCity

What follows is a discussion of eight lessons in knowledge and education extracted from the first revelation to Prophet Muhammad (pbuh).

The lessons are: (True) knowledge is the key to all goodness; The All-knowing and All-wise Allah is the source of all knowledge; The truth and knowledge are intertwined; The damaging role of humanism; The primary nature of the revealed knowledge and the secondary nature of its conventional counterpart; Knowledge as a reflection, and in aid, of man’s profound life purpose; The right to knowledge first, then to education; Islamic civilization was one of giving.

The first revelation given to Prophet Muhammad (peace and blessings be upon him and his family) was as follows: “Read (recite) in the name of your Lord who created - created man from a clinging substance. Read (recite), and your Lord is the most Generous, who taught by the pen, taught man that which he knew not” (al-‘Alaq 1-5).

The context was Cave Hira’ on top of the Mountain of Light (Jabal al-Nur) on the outskirts of the holy city of Makkah.

What follows are eight lessons in knowledge and education from the content of that very first revelation, which started to illuminate the world as soon as it was given.

First: (true) knowledge is the key to all goodness

When the prophethood of the Prophet started – with the above first revelation signifying the inauguration, so to speak – there was no heavenly truth anywhere in the world. No person or community could have claimed to be on the right path living life the way it ought to be lived.

Humanity was suffocating in the oceans of spiritual darkness, institutionalized ignorance and civilizational desolation.

The Prophet was the world’s savior. The final revelation - i.e. the religion of Islam as a complete way of life and the Qur’an as the Criterion and final Testament – was humanity’s last hope. Since the role of the Prophet was to transform the world, taking it from the constriction of non-belief to the expanse of faith, and from the abyss of barbarity to the grandeur of civilization, the only way for achieving that was to effectuate the blessedness of true knowledge. There was no other alternative that could adequately address, let alone conquer, the impending challenges.

That is why the first contact between the Prophet and the metaphysical world was marked by the commandment to read or recite. The commandment was repeated twice (al-‘Alaq 1, 3). Other pure theological and ceremonial aspects were not part of the equation of the first revelation, not because they were less relevant, but because their proper understanding and application were contingent on knowledge in general and on knowledge of them and their numerous correlated components in particular.

Second: the All-knowing and All-wise Allah is the source of all knowledge

Knowledge means to be aware of and informed about, and to understand the true nature of things and beings, followed by generating appropriate relationships with them. Thus, Almighty Allah as the Creator and Sustainer of the universe is the most authoritative source of knowledge. In fact, He is the only source of knowledge. All knowledge comes from Him.

What people normally regard as other sources and dimensions of knowledge are nothing but secondary features that reverberate the heavenly origin and purpose of knowledge. Such is furthermore nothing but the earthly actualization and application of a celestial knowledge-related rationale.

Whatever the diverse aspects of creation - including angels - may possess of knowledge, it is all due to the infinite munificence of the Creator who decided to bestow some knowledge upon His creation.

The first revelation to the Prophet indicated the commencement of the most pivotal chapter in the unfolding of this epistemological earth-heaven axis.

The occurrence showcased the Creator’s generosity and the initiation of a celestial tradition centered on bequeathing virtue.

Indeed, so consequential and noble is knowledge that it can be associated exclusively with the Creator, not His creation. The latter’s is the scope of internalizing and applying the given gifts, and within the framework of its creation-centric inquisitiveness, resourcefulness and ingenuity, to imbibe with purpose and endow with a sense its conscious and self-willed choices.

This applies especially to man in his capacity as the vicegerent on earth and as a creation created in the image of the Creator. The following words of angels perhaps best epitomize this verity: “Exalted are You (O Allah); we have no knowledge except what You have taught us. Indeed, it is You who is the All-knowing, the All-wise” (al-Baqarah, 32).

Third: the truth and knowledge are intertwined

There is no way to access the ultimate source and treasure of knowledge without the permission of Allah. Alone, man can attain neither the true meaning nor the substance of knowledge. For that reason, are the truth

and knowledge inseparable. The truth is the foundation of knowledge, while knowledge is an assured path towards the truth. Moreover, the truth is illuminated and espoused by knowledge more than anything else, whereas knowledge can be authenticated only by the truth. Hence, the Prophet was not instructed just to read, but to do so “in the name of your Lord” (al-‘Alaq 1). Being the creation of Allah and so, a manifestation of the greatness of His holy Being as well as His truth, is not the guarantee that man will reach the level of self-actualization.

What is additionally needed is that the inherent character of man – which is essentially dormant in the deepest recesses of the mind and soul – is enlivened and taken on a journey of personal growth by the power of knowledge and its ensuing enlightenment acts.

If inappropriate forms of knowledge are imposed on the unique nature of man, the condition will result in confusion, self-distrust and even self-alienation. In this case, neither the human character is stimulated nor knowledge truly actualized. It is a lose-lose situation.

Fourth: the damaging role of humanism

Life on earth is an ongoing struggle between the forces and protagonists of the truth and falsehood, and between good and evil. Man is both the source and object of the struggle. He is torn between upholding the ontological status quo – which is the deification of the Creator and dealing with the creation in an opposite “creationistic” way – and elevating himself to the pedestal, and possibly even hero-worshiping himself. However, the latter can be done only if the Creator is removed from His position of authority either by debasing Him somehow to the status of a common being, or by eliminating Him altogether. In the field of knowledge (epistemology), that clash manifests itself in determining who is the source of knowledge, who establishes its purpose and objectives, and who defines its validation standards. In other words, the clash is between subjectivity and relativism, on the one hand, and objectivity and moral absolutism, on the other.

This enduring antagonism between the rebellious nature of man and his Master, and between the realm of earth and that of heaven, has been foreknown by the infinite knowledge of the Creator. As a consequence, while furnishing the final Messenger to mankind – Prophet Muhammad – with a salvational paradigm anchored in knowledge, the first revelation of that paradigm gave prominence to the fact that man is a mere creation whose origins are rather meek (“created man from a clinging substance” (al-‘Alaq 2) after he had been nothing). As if a question has been implied about how such a lowly creature can end up declaring himself as separate from the transcendent realm of the divine, as the master of his and other creatures’ destinies, and as the measure of all things.

It is not surprising that this insubordinate nature of man is promptly addressed in the two verses that follow the initial five verses of the first revelation in the chapter of al-‘Alaq. Allah says: “Nay! Verily, man does transgress all bounds, because he sees himself self-sufficient” (al-‘Alaq 6-7).

What is indicated as the possible causes of humanism - whereby heaven is desecrated or excluded and man worshiped - is that man has a tendency to awaken and venerate his ego, hinder his capacities, debilitate his intelligence, and compromise the functions of his senses. Uncontrollable transgression and a false sense of self-reliance constitute the core of the legacy of such a behavioral pattern.

Fifth: the primary nature of the revealed knowledge and the secondary nature of its conventional counterpart

The Prophet was asked to read, not to observe, investigate, or explore. This clearly denotes the superiority of the revealed knowledge, wherefrom all other forms of knowledge originate and to which they all return for authentication and acceptance.

This furthermore means that the most important knowledge is that which is contained in the revelation (the Holy Qur’an and later the Prophet’s Sunnah as the interpretation and application of the former).

The revealed knowledge is the embodiment of the absolute truth, so it is expected to be passionate about, sought after, learned and implemented first and foremost. Other knowledge types play second fiddle to the revealed knowledge. In actual fact, their legitimacy and relevance lie in the extent of their alignment with the latter. Non-revealed or conventional knowledge is subordinate because it plays a supportive role insofar as the fulfilment of man’s honorable vicegerency mission on earth is concerned. Unlike the revealed knowledge, the conventional knowledge is intrinsically neither good nor otherwise. Its status is predicated on how far its philosophy, processes, objectives and outputs are consistent with those of the revealed knowledge.

For example, natural sciences, formal sciences, social sciences and humanities are evaluated exclusively on the basis of, and to what extent they serve, the interests of the metaphysical world, the holistic development of man and society - including the spiritual, moral and cerebral aspects - as well as the genuinely existential interests of the rest of creation.

Segun Awofadeji in Bauchi

Madrid Become First Club to Surpass €1bn in Revenue

Real Madrid have made history by becoming the first football club to surpass €1bn (£844m) in revenue during a single season, cementing their dominance in European football both on and off the pitch.

The Spanish giants generated €1.046bn (£883m) in the 2023-24 season, according to Deloitte’s Football Money League report.

The club's revenue surge was driven largely by the redevelopment of the Santiago Bernabeu Stadium, which saw match-day revenue double to €248m following the completion of renovations.

SPORTS BUSINESS

In addition, Real Madrid experienced a 19 per cent boost in commercial revenue through new sponsorship deals and increased merchandise sales.

On the pitch, the team's treblewinning campaign — including victories in the Champions League, La Liga, and the Spanish Super Cup — further

Nigeria’s CHAN Opponents, Congo, Thrown Out of Competition

Congo, one of Nigeria’s opponents in Group D of the African Nations Championship (CHAN), have been disqualified.

The CAF Disciplinary Board announced yesterday that Congo fielded an ineligible player in their last match against Equatorial Guinea.

As a result, the last match played by Congo has been declared forfeited. Equatorial Guinea will now take the position of Congo in Group D of the African Nations Championship in August.

In addition to forfeiting the match, Congo Football Federation is also fined $10,000. The fine has to be paid within 69 days.

The whole episode centred on Congo fielding Mankou Nguembete Japhet Eloi in the last qualifying match.

The player is reported to have transferred from his local club in Congo to another club, Leones Vegetarianosin Equatorial Guinea when the match was played.

Congo reportedly didn’t present valid national licenses which is an essential requirement.

Keys Stuns Swiatek to Set up Sabalenka Final Showdown

AUSTRALIAN OPEN

Madison Keys saved a match point before stunning world number two Iga Swiatek to set up an Australian Open final against two-time defending champion Aryna Sabalenka.

Keys claimed a shock 5-7 6-1 7-6 (10-8) victory over five-time Grand Slam champion Swiatek to reach the second major final of her career.

Poland's Swiatek served for the match at 6-5 in the third set and held match point but Keys saved it, broke back and then recovered from 7-5 down in a fraught tie-breaker to advance.

Keys said: "The third set was so up and down. There were so many big points and break point chances. I feel I blacked out at one point and I was just there running around."

Keys' victory came after Belarusian top seed Sabalenka earned the chance to become the first woman in 26 years to win three successive Australian Open titles with a commanding 6-4 6-2 win over close friend Paula Badosa.

While Keys has achieved a career-best Australian Open run, Sabalenka is aiming to emulate Martina Hingis' three straight titles between 1997-99.

"I have goosebumps. I am so proud of myself and my team that we were able to put ourselves in such a situation," Sabalenka said.

"If I put my name in history it will mean the world for me. I couldn't even dream of it."

Swiatek's loss also means Sabalenka will retain the world number one ranking after the tournament.

underscored its status as a global powerhouse.

“One billion euros in revenues is a landmark in club football,” said Theo Ajadi, assistant director at Deloitte's Sports Business Group.

“The redevelopment of Madrid's stadium has been the catalyst for the club's growth.

“They've licensed some seating, which has provided a significant uplift in revenue, and also increased merchandising and brought in new sleeve sponsorship. That, along with strong on-pitch performance, has

led to Madrid's strong financial performance.”

Trailing Madrid, Manchester City ranked second with €838m (£708m) in revenue, while Paris Saint-Germain came in third with €806m (£681m). Manchester United and Bayern Munichrounded out the top five, earning €771m (£651m) and €660m (£557m), respectively.

The current revenue gap between Real Madrid and Premier League giants Manchester City is the largest ever recorded in the 28 years Deloitte has compiled its annual list.

Across Europe, clubs collectively saw record revenues of €11.2bn (£9.46bn), a 6 per cent increase from the previous season. The Premier

League continued its financial dominance, with nine of its clubs placing in the top 20.

Arsenal, Liverpool, and Tottenham Hotspur ranked seventh, eighth, and ninth, respectively, while Chelsea closed out the top 10. Clubs such as Newcastle, West Ham, and Aston Villa also featured prominently, reflecting the league's unmatched broadcasting revenues.

“The Premier League still dominates the money league table and that is driven by such a big gap between the media rights it is able to generate,” said Ajadi. “It is the most-watched league of the big five leagues, and that drives spending to perform well in Europe.”

Okoya-Thomas Table Tennis Championship Goes National

Femi Solaja

After 55 uninterrupted years of sponsorship, the annual Molade Okoya-Thomas Table Tennis Championships has been transformed to embrace players across the length and breadth of the nation.

The annual event is the longestrunning table tennis competition in Africa and will become a national event starting this year.

Initiated in 1968 by the late Sir Molade Okoya-Thomas, the tournament has produced some of Nigeria’s finest table tennis stars, including the legendary Atanda Musa, the late Yomi Bankole, Bose Kaffo, and the evergreen Olufunke Oshonaike.

At a press conference marking the commencement of the 56th edition in Lagos yesterday, Deji Okoya-Thomas announced that the family decided to expand the tournament to a national level due to numerous appeals from table tennis stakeholders within and outside Nigeria.

“This year is particularly special as the tournament will extend beyond Lagos State to become a national event for the first time since its inception in 1968. This decision comes in response to numerous appeals to allow the best players from across the country to compete in a supportive environment that brings out their best,” he explained.

He added, “Notably, this tournament remains the longestrunning table tennis competition in Nigeria and Africa, with many

participants achieving continental and international success. Before his passing in 2015, the late business mogul promised that the tournament would outlive him, and we are proud to see that his promise has been fulfilled, with the tournament continuing to flourish for 11 years.”

Chairman of the National Sports Commission (NSC), Shehu Dikko, lauded the family for upholding the legacy of the competition's initiator while pledging the government’s commitment to supporting

grassroots sports development.

Dikko commended the family for their dedication since the initiator's demise in 2015 and emphasized that talents discovered through such tournaments would be supported to achieve podium finishes at major events like the Olympic and Commonwealth Games.

President of ITTF Africa, Wahid Enitan Oshodi, noted that the tournament has become a breeding ground for table tennis stars in Nigeria, with many national

team players emerging from the tournament.

This year’s event also marks the 10th anniversary of the late business mogul's passing. Over 355 players (231 male and 124 female) will compete in 13 events, including singles, doubles, mixed doubles, para, deaf, and veteran categories, with enhanced prize money. Participants are drawn from 21 states and 67 clubs across the country, with the Men’s Singles category attracting the highest number of entries at 109.

Chairman of the Benue State Football Association and President of the Ratels Foundation, Barrister Paul Edeh Esq., has expressed surprise and immense gratitude following his nomination for the prestigious Newstap/SWAN Five-Star Award.

The recognition celebrates his outstanding contributions to sports development and philanthropy in Nigeria.

Edeh spoke while receiving the official nomination letter from the organisers in Abuja said the recognition resonates with his ideals and vision for a development and all inclusive society.

Edeh who is the only founder of two women clubs in Nigeria - Naija Ratels and Benue Queens (previously Honey Badgers) said his drive for

football was to use it as a veritable tool towards ensuring meaningful engagement of young people, with particular interest in women development.

"My voyage into football and sports general is nothing but using it as a platform to make enduring impact. My idea about life is not in acquiring or amassing wealth for personal gains but in touching lives from time to time.

"It is not often that one’s efforts are noticed in such a grand way. So, I dedicate this nomination to the many lives that sports have impacted, particularly through the work we have done with the Ratels Sports Development Foundation. It is a reminder that the journey to empower others is never in vain.

I deeply appreciate Newstap and

SWAN for considering me worthy of this honor," he said.

National President of Sports Writers Association of Nigeria (SWAN), Mr Isaiah Benjamin, while presenting the nomination letter, commended Dr. Edeh for his unwavering commitment to grassroots sports development and his philanthropic efforts in supporting young athletes and promoting women's football in Nigeria.

The Five-Star Newstap/SWAN Awards is scheduled to take place on February 27, 2025 in Lagos. The Executive Governor of Benue State, Reverend Father Hycinth Alia and the President of Nigeria Profesional Football League (NPFL) side Remo Stars, Kunle Soname, are among the nominees for the Awards event.

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MISSILE

Senate Panel to Steel Devt Minister

“Can you tell us the month that the MoU on Ajaokuta was entered? 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 wholsomely. 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...because time is going” --Senator Natasha Akpoti-Uduaghan, tackles the Steel Development Minister, Shuaibu Abubakar Audu.

FEMI FALANA

Prohibition of Torture In Nigeria

Section 31 of the 1979 Constitution provided that every individual was entitled to respect for the dignity of his person, and accordingly no person shall be subject to torture or to inhuman or degrading treatment. Article 5 of the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act Cap A9 Laws of the Federation of Nigeria 2004 provides that “all forms of exploitation and degradation of man, particularly slavery, slave trade, torture, cruel, inhuman or degrading punishment and treatment shall be prohibited”

In utter breach of the above provisions of the Constitution and the African Charter, the police and other security forces usually subject lowly placed Nigerian citizens to torture in detention facilities, markets and other places. In Mogaji V. Board of Customs & Excise (1982) 3 NCLR 552, the armed agents of the defendant invaded and raided markets in Lagos and seized contraband goods. In the process, some of the traders were brutalized.

The victims sued the defendant for damages in the Lagos high court. Adefarasin CJ held that it was a violation of the constitutional prohibition of inhuman or degrading treatment to organize a raid with the use of guns, horse-whips and tear gas in a market in the course of a purported search of contraband goods & to injure custodians of such goods. The judge opined that “Those in authority in customs and excise matters ought to intensify methods for apprehending offenders at the point of entry of goods into the country as it becomes more difficult to do so afterwards.”

Notwithstanding that section 34 of the 1999 Constitution equally guarantees the fundamental right of every citizen from torture, inhuman or degrading treatment, the police and other security agencies continued to subject poor citizens to horrendous torture. In 2007, the Government of Nigeria was indicted in the report of the then United Nations Rapporteur on Torture, Mr. Manfred Nowak. In his detailed report, Mr. Nowak, “ Police shoot prisoners, beat them and hung them from the ceiling for long periods... detainees in Nigerian police cells were frequently tortured to extract confessions

The Rapporteur also found that torture is an intrinsic part of how law enforcement

services operate within the country. In particular, he confirmed that the police engaged in “ flogging with whips, beatings with batons and machetes, shooting suspects in the foot, threatening suspects with death and shooting them with power cartridges. . . as well as “suspension from the ceiling or metal rods in various positions and being denied food, water and medical treatment.”

Following such international embarrassment and indictment by local human rights bodies, Nigeria ratified the Anti Torture Convention of the United Nations in 2007 and the Optional Protocol in n 2017, the National Assembly domesticated and enacted the Anti Torture Act in 2017. Specifically, the Anti-torture Act 2017 has criminalised torture, cruel, inhuman

and provided protection for victims and witnesses of torture.

Section 1 of the Act has imposes an obligation on government to ensure that the rights of all persons, including suspects, detainees and prisoners to freedom from torture are respected at all times and that no person under investigation or held in custody is subjected to any form of physical, mental or psychological torture.

Section 2 titled ‘Acts of Torture’ defines what amounts to torture thus:

In order to stop the practice of torturing lowly placed suspects to make confessional statements during the investigation of criminal offences, sections 15 of the Administration of Criminal Justice Act 2015, the taking of the statement shall be in writing and may be recorded electronically on a compact disc or some other audio virtual means. Section 17 thereof further provides that the statement may be taken in the presence of a legal practitioner or his choice, or where he has no legal practitioner of his choice, in the presence of an officer of the Legal Aid Council of Nigeria or an officer of a civil society organization or a Justice of the peace.

Even though the Administration of Criminal Justice Act became effective in May 2015, confessional statements are still obtained by force in the absence of lawyers, leading to trial within trial during the prosecution of criminal cases. However, in Federal Republic of Nigeria.v. Akaeze [2024] 12 NWLR (Pt. 1951) 1 the Supreme Court held that it is mandatory for law enforcement agencies in Nigeria

While I argued that Mr. Farotimi ought not to have been handcuffed as he was not proved to have exhibited any form of violence, I accused the lawyers who attacked the prison management of hypocrisy.I pointed out that “on a daily basis, lowly placed criminal suspects are handcuffed to and from the several High Courts and Magistrate Courts in all the states of the Federation and the Federal Capital Territory. As if that is not enough, such suspects are regularly leg chained like slaves in sugar plantations in the Americas during the slave trade

under sections 15(4) and 17(1) & (2) of the Administration of Criminal Justice Act 2015 (“ACJA“) to record electronically confessional statement of suspect during criminal investigation in an audio-visual format. See also Friday Charles v. The State of Lagos (2023) 13 NWLR (Pt. 1901) 213.

It is public knowledge that, in spite of the clear provisions of the Constitution and other local and international human rights instruments, the fundamental right of children, indigent citizens and criminal suspects to freedom from torture, cruel and degrading treatment is routinely violated in all states of the Federation and the Federal Capital Territory.

A few weeks ago, Mr. Dele Farotimi, a lawyer standing trial for criminal libel, was subjected to the restraint of handcuffs in one of the court sessions.

Following the condemnation of the action of the prison management by lawyers and the media, Mr. Farotimi’s handcuffs were hurriedly discarded.

While I argued that Mr. Farotimi ought not to have been handcuffed as he was not proved to have exhibited any form of violence, I accused the lawyers who attacked the prison management of hypocrisy.I pointed out that “on a daily basis, lowly placed criminal suspects are handcuffed to and from the several High Courts and Magistrate Courts in all the states of the Federation and the Federal Capital Territory. As if that is not enough, such suspects are regularly leg chained like slaves in sugar plantations in the Americas during the slave trade.

The dehumanisation of poor suspects is considered normal by the elite in our stratified society. For instance, a couple of months ago, a police command paraded a suspect before the electronic and print media for stealing five tubers of yam valued at less than N10,000 to feed himself and his family members. At about the same time, a public officer accused of stealing over N100 billion was neither handcuffed nor paraded before the media.”

Hence, it has become necessary for the National Human Rights Commission, the Nigerian Bar Association and the human rights community to mobilise Nigerians to expose and report private individuals and public officers whenever they contravene the provisions of the Anti Torture Act 2017.

Attorney General of the Federation, Lateef Fagbemi