WEDNESDAY 29TH JANUARY 2025

Tinubu, 11 African Leaders Sign Dar es Salaam Declaration for Electricity Access to 300m Africans

www.thisdaylive.com

El-Rufai: We've Poor Leadership

Because Cunning People, Illiterates Are Leaders

Says he has no plans to leave APC Laments he no longer recognises his party, which has failed to meet in two years

‘You don’t even know if it is one-man show or zero-man show’ Alleges internal mercenaries in PDP, hired and motivated to destroy party Bwala reacts, doubts el-Rufai would say same thing if in government

L-R: Minister of state for Finance, Dr Doris Uzoka-Anite; Minister of Marine and Blue Economy, Mr. Gboyega Oyetola; Chairman, Senate Committee on Finance, Senator Sani Musa;

Deji Elumoye in Abuja President Bola Tinubu has concluded his visit to Dar es Salaam, Tanzania,

Adedayo Akinwale in Abuja

WIKE EMERGES THISDAY MINISTER OF THE YEAR...

Cardoso: Era of Opaque FX Market Practices, Sundry Abuses Over

Launches FX code, says final settlements for $7 billion FX backlogs underway as forensic verification nears completion

At $40.68 billion in December 2024, external reserves accretion highest in three years Declares forex reforms have strengthened naira, other macroeconomic indicators Alawuba hails CBN, says code will inspires confidence, resilient financial system

James Emejo in Abuja

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday launched the Nigeria Foreign Exchange Code (FX Code), aimed at sanitising market practices, and entrenching good governance. The CBN governor said the code was a decisive step forward, setting clear and enforceable standards for ethical conduct, transparency, and good governance in the FX market, adding that violations will be met with penalties and administrative actions.

He stressed that exchange rate stability remained a cornerstone of macroeconomic health for the Nigerian economy, influencing critical indicators such as the balance of payments, external reserves, international trade, inflation, economic growth, and foreign investment.

Speaking at the launch of the code, alongside chief executives of Deposit Money Banks (DMBs) who took their turns to sign the framework as a mark of commitment to ensuring compliance, Cardoso further hinted that the forensic audit of the $7 billion FX backlogs which he inherited on assumption of office, was near conclusion, adding that final settlements of genuine FX liabilities to investors would be processed accordingly.

This is as Group Managing Director/Chief Executive, United Bank for Africa (UBA) Plc, Mr. Oliver Alawuba, commended the CBN for its steadfast leadership and impactful

reforms championed in recent years.

He said these initiatives have been pivotal in stabilisng the FX market, restoring investor confidence, and ensuring a more sustainable and resilient financial system.

However, the central bank governor stressed that the code remained a firm signal that business-as-usual will no longer be entertained, and describing it as a blueprint for the future, grounded in the hard lessons of the past, adding “We must not forget where we are coming from”.

He said the code was a firm rejection of previous distortions in the market and an equally firm commitment to a future defined by fairness, trust and market-driven principles.

The governor warned that the central bank would not tolerate any attempts to revert to past unethical practices, adding that any individual or institution that violates the FX code will face swift and decisive sanctions.

He added that the CBN will not hesitate to act against any institution or individual that undermines the integrity of the country’s financial markets, adding that the code remains a binding commitment to accountability and transparency.

He said, “Let us be clear; the system itself played a key role in the challenges of the past. Unethical behaviours and systemic abuses - whether by those with privileged access or by complicit participants eroded public trust and harmed our economy.

“Our journey towards market reform is already yielding results. The year 2024 was marked by structural reforms which sought to return the naira to a freely determined market price and ease volatility as several distortions were removed from the market.”

The FX code consists six guiding principles and 52 sub-principles, which Cardoso said must become the standard for conduct across all participating institutions.

The core principles include ethics, governance, execution, information sharing, risk management and compliance, and confirmation and settlement processes. Cardoso also stated that these principles aligned

with international standards while addressing Nigeria's unique challenges.

He said together, they provide the foundation for a resilient and transparent market that inspires confidence among both domestic and international participants.

The apex bank boss, therefore, charged banking industry leaders, including board chairs, managing directors, and chief compliance officers, to lead from the front, noting that embedding these standards are not optional in their respective organisations.

Essentially, the CBN governor said the introduction of the code marked a new era of compliance and accountability.

He said, “It is not just a set of recommendations; this is an enforceable framework. Under CBN Act 2007 and BOFIA Act 2020, violations will be met with penalties and administrative actions. Market participants must recognise that adherence to these principles is not merely about compliance but about restoring public trust in our financial system.

“Beyond the foreign exchange markets, the FX code forms part of our renewed focus on compliance across the financial services industry and I am particularly pleased that we have the leadership of the industry in this room to reinforce a collective commitment to the journey ahead.

“Self-regulation and conduct are at

the core of the changes in culture we expect to see at play in the industry, and I expect the principles of the FX Code to be applied across other business areas.”

Cardoso further pointed out that the FX market was hitherto marked by an era of multiple exchange rates, which created privileges for a select few at the expense of most Nigerians, and severely undermined market integrity.

He referenced the $7 billion FX backlogs which according to him, had taken over 12 months to verify, adding that the process had nevertheless, led to the discovery of multiple unethical and illegal practices that “we should not be proud of as a nation”.

Senate Backs APAPPA Initiative to Unlock $20bn Climate Finance for Nigeria

The Senate Committee on Ecology and Climate Change has thrown its weight behind the Accelerating Pan-Nigerian Plastic Action for a Pollution-Free Africa (APAPPA) Initiative aimed at unlocking $20 billion climate finance investment opportunities for Nigeria.

The Chairman of the Senate Committee on Ecology and Climate

Change, Senator Seriake Dickson said the initiative not only reaffirms Nigeria’s commitment to the Global Plastic Action Plan but also demonstrates the country's determination to lead Africa in implementing bold, actionable climate solutions.

Also, the Vice Chairman of the committee, Senator Ireti Kingibe noted that through the initiative, the country has a unique opportunity to transform how plastic waste was

being managed and build a circular economy.

She said: “It is a timely and strategic intervention that the initiative not only addresses the environmental crisis but also creates jobs, fosters innovation, and showcases Nigeria’s commitment to sustainable development. This I believe, symbolises a clear path forward for our nation’s ecological and economic prosperity.”

ICAN Symposium: Financial Experts Advocate Productive Budget

Fidelis David in Akure

Finance and economic experts including an industrialist, Alex Ajipe, on Monday expressed divergent views on the capacity of Ondo State government to effectively implement the 2025 budget recently signed into law by Governor Lucky Aiyedatiwa.

The experts spoke in Akure at a symposium organized by the Akure & District Society of the Institute of Chartered Accountants of Nigeria (ICAN) themed: “Budget of Recovery: Opportunities, Prospects, and

Key Issues Towards Actualization.”

On his part, the Managing Director, Klick Konnect Networks, Alex Ajipe, who is one of the discussants said budgets should be customized in such a way that will reflect productivity.

Ajipe who is also a stalwart of APC in the state stressed that budget must also be inclusive, thereby considering the needs of all stakeholders, including the poor masses. The APC chieftain, noted that "It goes beyond recurrent expenditure or capital expenditure. We need a

budget that works for us. Between 1978-1979, we have a kind of economic system in Ondo State. We had over 95 percent of industries owned by the state.

"Most people working there were state workers. So, when you are preparing such budget, we might likely have huge recurrent expenditure and productivity will increase. But, as time goes by, private sectors started emerging.

"The productivity from the civil servants have reduced. If you look at the number of Professors we have in Ondo and Ekiti states, teaching,

we're not supposed to be hungry but the truth of the matter is that we're still hungry," he said.

Ajipe stressed that, "the larger chunk of money government uses for training is for the civil servants, not the private sector but what is the productivity of average civil servants? What are they bringing back?

"You discover that the best brains are in the civil service but we're not getting anything from them. It is easy for us to blame the FG and state governments, but as an individual, what are you contribut-

ing to economic sector?"

The expert expressed divergent opinions and provided insights into the 2025 Ondo State Budget with a focus on economic revitalization, sustainable fiscal policies, and investment opportunities.

In his presentation, the lead speaker, Prof. Festus Oladipupo, Head of the Department of Accounting, Ekiti State University, observed that the downward trend of IGRTOTAL revenue ratio is enslavement to additional borrowing and federal allocation with consistent growth in total annual spending.

Kingibe added that the project aimed at redefining Nigeria’s approach to plastic pollution and climate finance through innovative and inclusive solutions with a long-term goal to address critical environmental challenges, foster economic empowerment, and position Nigeria as a global leader in climate-smart innovation.

She added: “The APAPPA Initiative, which stands for Accelerating Pan-Nigerian Plastic Action for a Pollution-Free Africa, is a Circular Economy and Climate Change Innovation, Empowerment, and Eco-finance Accelerator designed to combat plastic pollution, mobilise investments, and create a sustainable pathway for Nigeria’s net-zero transition.’’

She stressed that by harnessing the power of community-driven action and innovative financing, APAPPA was on track to catalyse a nationwide movement toward environmental sustainability and economic resilience. The Lead Climate Finance and Circular Economy Advisor to the APAPPA Initiative, Mr. Wilkinson Agih, said the initiative represents a paradigm shift in how Nigeria addresses climate challenges.

Adedayo Akinwale in Abuja

L-R: Former Governor of Enugu State, Ifeanyi Ugwuanyi; Minister of Information, Mohammed Idris presenting the THISDAY Minister of the Year Award to FCT Minister, Barrister Nyesom Wike and his wife, Justice Eberechi Nyesom Wike during THISDAY 30th Anniversary /Arise News at 12, Awards Night in Lagos on Monday.

PHOTO: KUNLE OGUNFUYI

BIRTHDAY CAKE FOR FUBARA AT 50...

Governors

FG Launches Ultramodern Fashion

Hub in Borno, Targets 48,000 Jobs

Shettima announces N300,000 grant to every outstanding MSMEs Describes energy infrastructure vandalism a national emergency Inaugurates 15MVA substation in Maiduguri, urges citizens to protect power assets

Deji

The federal government yesterday, launched one of Nigeria's largest ultramodern fashion manufacturing hubs in Maiduguri, the Borno State capital with a target of generating over 48,000 jobs through the facility in the state.

In continuation of the disbursement of its N75 billion support package for Micro, Small and Medium Enterprises (MSMEs), the government at the centre also announced unconditional grants of N300,000 for outstanding MSMEs participating in the 6th Expanded National MSME Clinics programme. Speaking while launching the

fashion hub and the Expanded MSMEs Clinic in Maiduguri, Vice President Kashim Shettima, according to a release issued by his Media Assistant, Stanley Nkwocha, restated the commitment of the administration of President Bola Tinubu to fostering innovation, upskilling the workforce, and ensuring equitable wealth distribution across the nation.

According to him: "The strength of any nation lies not in its natural resources but in the hands of its skilled and enterprising citizens. You are the surest means of distributing wealth equitably across the land. You are the crucial link to securing a prosperous future".

The N75 billion MSME Intervention Fund is being administered through the Bank of Industry, offering loans up to N1 million at 9% interest to 75,000 businesses nationwide.

Announcing the N300,000 grant for each business owner, Shettima said, “I am pleased to announce on behalf of His Excellency, President Bola Tinubu, that an unconditional grant of N300,000 will be awarded to each outstanding MSME exhibiting at today’s clinic".

According to him, the intervention represents yet another fulfilment of the promise made by President Tinubu to provide access to capital and expand opportunities for all Nigerians.

"Every business empowered is a step closer to eradicating poverty, and we do not take for granted the critical role you play as the buffer of our economy, particularly at the informal level,” he added.

On the MSME Clinic, the Vice President explained that it provides "a unique platform for business owners, aspiring entrepreneurs, and innovators in Borno State to interact directly with regulatory agencies, financial institutions, and business support organisations.

"It is an avenue to receive practical, on-the-spot solutions to the challenges you face in running your businesses," he pointed out.

FG Issues Distribution Licences to Six Firms to Expand In-country Gas Usage

The federal government yesterday awarded 10 gas distribution licenses to six Nigerian firms, a development it said marked a significant leap towards deepening gas utilisation in the country.

The beneficiary firms at the event held in Abuja were: The NNPC Gas Marketing Limited, Shell Nigeria Gas Ltd, AXXELA, NIPCO PLC, Central Horizon Gas Company and Falcon Corporation Limited. Section 148 of the Petroleum Industry Act (PIA) 2021, mandates the relevant government agency to issue gas distribution licences to qualified individuals and organisations.

The licences provide an exclusive right for beneficiaries to establish, construct, and operate gas distribution systems and ensure the non-discriminatory distribution and sale of natural gas within designated local distribution zones.

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in an address at the event, said the move reaffirmed the government's commitment to sustainable development of Nigeria's vast gas resources.

The minister said the issuance of the licences was expected to increase access to gas for domestic and industrial use, driving economic growth and development nationwide, highlighting that access to affordable and sustainable energy, like gas, was key to unlocking Nigeria's entrepreneurial potential.

Underscoring how reliance on

expensive and erratic fuels often disrupt business operations, Ekpo said that gas remains a more reliable, affordable, and sustainable energy source that can transform lives and empower businesses.

Quoting the President of the African Development Bank (AfDB), Dr. Akinwunmi Adeshina, the minister said that over 600,000 women and children die annually in Africa due to lack of access to clean cooking.

According to him, even more worrisome is that an estimated 1.2 billion women on the continent lack access to clean cooking, explaining that the continued exposure to carbon monoxide during cooking leads to very severe air pollution, which could cause death among women and children.

“The issuance of the gas distribution licence comes at a pivotal moment as we intensify efforts to harness the potential of gas as a critical resource for Nigeria’s energy transition and economic transformation. By empowering licence holders, this initiative opens extensive opportunities across several key sectors,” the minister said.

For energy-intensive industries, Ekpo explained that it will facilitate affordable and reliable energy supply to drive industrial growth and competitiveness, while for power generation, it will support cleaner and more efficient energy to enhance power availability across the nation.

Besides, Ekpo said that the programme will support clean cooking initiative and give women and youths

access to clean cooking options, while promoting gas reticulation, which replaces gas cylinders as gas is piped to homes and businesses.

Aside from accelerating the adoption of Compressed Natural Gas (CNG) as a sustainable fuel alternative in transportation, Ekpo said the gas distribution initiative will promote industrial clusters that rely on natural gas as a cornerstone for economic activity.

“A thriving domestic gas market

is crucial to achieving our ambitions under the Decade of Gas Initiative. The gas distribution licence framework is a strategic enabler for this vision by promoting accessibility and availability of gas,” he added.

The challenge of expanding the reach of gas infrastructure to underserved areas and deepening gas consumption across residential, commercial, and industrial sectors, he said, will also be solved by the programme.

He also announced the successful completion of the second cohort of the FGN-ALAT Digital Skillnovation Programme in Borno State, a partnership with Wema Bank that has trained over three million Nigerians in digital skills.

"The FGN-ALAT programme has trained over two million Nigerian youths and one million MSMEs in digital skills and resources critical for thriving in today's technology-driven economy," Shettima noted.

He further stated that the fashion hub is among the largest ever established by the federal government, furnished with state-of-the-art equipment to support the fashion manufacturing cluster in Borno State.

His words: "It has the capacity to boost production, achieve economies of scale, and align with global standards. We anticipate that this facility will be managed by a competent private sector entity, with federal and state governments providing vigilant oversight.

"Our vision is for this hub to become a reference point for excellence, enterprise, and training—not only for Borno State but for the entire nation."

Commending the state government for its support, the Vice President expressed gratitude to the government of Borno State, under the stewardship of Governor Babagana Zulum, for partnering with the federal government to bring the Expanded MSME Clinic and the fashion hub to the people of the state.

He reiterated the administration's

commitment to grassroots economic development, noting that "without skills, innovation stalls. Without accessible capital, dreams wither. "This is why we are committed to standing with you, supporting you, and ensuring that your most ambitious ideas are transformed into flourishing enterprises instead of being forgotten in the cupboards of dreams not realised," he added.

Earlier in his remarks, Governor Zulum regretted that MSMEs had suffered "untold hardship in the state due to decade-long insurgency and the prevailing economic situation in the country.”

He expressed optimism that the launch of the MSME Clinic will revive business activities, small and medium enterprises, provide employment opportunities and sources of income for individuals in Borno State. Assuring that the government is committed to creating more opportunities for the population, Zulum said in recognition of the importance of MSMEs, his administration has made several policies to encourage the citizens to build expanded sources of income.

Also speaking, Minister of Agriculture and Food Security, Senator Abubakar Kyari, stated that the launch of the MSME Clinic and the Fashion and Innovation Hub marks another milestone of success in the administration of President Tinubu. He said going around the exhibition with the Vice President, he observed that “everything speaks to the eightpoint agenda of Mr. President.”

Lokpobiri Seeks Speedy Execution

Varsity Sign MoU to Boost Capacity

Addeh in Abuja

The Petroleum Technology Development Fund (PTDF) has signed a Memorandum of Understanding (MoU) and partnership agreement with the University of Portsmouth, UK, to boost capacity building in Nigeria’s energy sector. Specifically, the agreement marks the second phase of the partnership framework for the operationalisation of the College of Petroleum and Energy Studies, Kaduna (CPESK), a statement from PTDF said.

The deal signed in the UK was witnessed by the Attorney General and Minister of Justice, Chief Lateef Fagbemi (SAN); Minister of Petroleum Resources (Oil), Senator Heineken

the Executive Secretary of PTDF, Mr Ahmed Aminu and Vice Chancellor of the University of Portsmouth, Prof. Graham Galbraith.

At the event, Lokpobiri explained that there was the need to ensure the quick execution of the MoU, under the mutually agreed terms of the collaborative framework.

The Federal Executive Council (FEC), the highest decision-making body in Nigeria, had in May 2023 approved an operating licence through the National Universities Commission (NUC) to enable the college in Kaduna to operate as a private postgraduate university with 19 take-off programmes spread across three faculties and six departments.

The college is expected to serve as a

vehicle to accelerate the domestication process of PTDF's human capacity development programmes and retain the standards and quality that PTDF scholars enjoy abroad.

Lokpobiri emphasised the importance of sustainable capacity building as a cornerstone of the Nigerian government’s development agenda, expressing the federal government's support of the Joint Venture (JV) framework between PTDF and partner universities to deliver postgraduate degrees at the college.

“This initiative underscores the need for immediate action. We must ensure that the implementation of this partnership begins without delay to realise the benefits of the world-class institution in Kaduna.

“This is in consonance with the Nigerian government’s trans-national higher education policy. Accordingly, the execution of this partnership agreement has passed the rigorous process of approval by the office of the minister of justice and attorney-general of the federation of Nigeria.

“I urge the parties in this partnership agreement to commence in earnest the full implementation of the mutually agreed terms of the collaborative framework, while assuring you the full support of the government of Nigeria,” he added. In his remarks, Fagbemi highlighted the critical role of strategic partnerships in ensuring success, commending the University of Portsmouth for its global reputation for academic excellence.

L-R:

Umo Eno (Akwa Ibom); Rt. Hon. Sheriff Oborevwori (Delta); Siminalayi Fubara (Rivers); Senator Douye Diri (Bayelsa ); and Senator Bassey Otu (Cross River), celebrating Fubara’s 50th birthday during the South-South Governors Forum meeting at the Government House, Yenagoa... yesterday

Emmanuel

Lokpobiri;

Emmanuel Addeh in Abuja

Elumoye in Abuja

NATIONAL SINGLE WINDOW PROJECT STAKEHOLDERS' FORUM...

L-R: The National President of the

Association of Chambers of Commerce, Industry, Mines and Agriculture

FG: National Single Window Project Will Redefine Trade,

Reduce N2.5trn Revenue

Loss by 25%

Finance Ministry: Trade alone can give Nigeria $1trn economy

Dike Onwuamaeze

The federal government has declared that successful implementation of the National Single Window Project (NSW) would positively redefine the way trade is done in Nigeria and reduce an estimated revenue loss of N2.5 trillion caused by bottlenecks experienced in doing business in the Nigerian ports by 25 percent.

The government also described the NSW as one of the initiatives introduced to realise President Bola Ahmed Tinubu’s administration’s 8-point agenda and position Nigeria as a $1 trillion economy.

These declarations were made in Lagos yesterday by the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole and Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, during their separate leadership address at the “Stakeholders’ Forum on the Establishment of National Single Window.”

The NSW project, which was launched in April 2024 by Tinubu, is a federal initiative aimed at implementing a centralised electronic trade platform designed to streamline trade processes for importers and exporters by integrating and harmonizing data from multiple government agencies and stakeholders to enhance economic efficiency.

Speaking on the “Impact of the Single National Window on Nigeria’s Marine and Blue Economy,” Oyetola emphasised that the NSW is a pivotal step in positioning Nigeria as a global leader in trade and a demonstration

the government's commitment to modernising trade processes and maximising the utilisation of the country’s marine resources.

He said: “As highlighted by the World Bank, the cost of doing business at Nigerian ports can be up to 40 percent higher than in other West African countries due to delays and administrative bottlenecks, leading to an estimated annual revenue loss of N2.5 trillion within the business community.

“However, the implementation of the single window system can enhance efficiency, potentially reducing these costs by at least 25 percent.

“By streamlining operations, improving transparency, and minimising delays, the system not only drives cost savings but also strengthens overall trade facilitation.

“This is one of the initiatives we have introduced to position this economy as $1 trillion economy. Trade alone can actually give us the $1 trillion economy.”

Speaking on “The Impact of Single Window on Trade Facilitation in Nigeria,” Oduwole said the transformative power of the NSW would redefine ways trade was being conducted across Nigeria’s borders.

She said: “The establishment of a NSW system for trade processes in Nigeria is not merely a policy objective; it is a transformative reform that will fundamentally redefine the way trade is conducted across our borders.

“Our single window project will provide a centralised digital platform for traders to submit, process, and

access trade-related documentation, thereby eliminating corruption through improved transparency, reducing administrative burdens, and significantly enhancing the ease of doing business in Nigeria.”

Recalling that she had been part of the NSW project since 2016 in her previous capacities in the Presidency, Oduwole enthused that “the time for delivery is now!”

She added: “Under President

Tinubu’s 8-Point Agenda, economic growth and job creation are key priorities. The NSW will play a significant role in achieving these goals by enabling Nigerian businesses to compete more effectively in global markets and strengthening Nigeria’s position as a regional trade hub under African Continental Free Trade Area (AfCFTA).

“Exports not only contribute to Nigeria's GDP but also provide the

foreign exchange needed to stabilise our economy and foster sustainable development.”

According to the Minister of Industry, Trade and Investment, the NSW would align Nigeria’s trade processes with global standards, including frameworks under the AfCFTA, which is a priority area.

“Indeed, this initiative aligns seamlessly with Nigeria’s commitments under the World Trade

Organisation (WTO) Trade Facilitation Agreement (TFA), finalised at the 9th Ministerial Conference in Bali, Indonesia, in December 2013, and enforced in 2017.

“Article 10.4 of the Agreement encourages the adoption of single window systems, recognising their potential to reduce trade costs by over 14 per cent in low-income countries and 13 per cent in uppermiddle-income countries.”

Governor Babajide Sanwo-Olu op Lagos State yesterday inaugurated four roads of over 10.10km in Oriade, Amuwo-Odofin Local Government Area of the State.

The newly commissioned roads include Old Ojo (Phase 1), Irede, Navy Town, and Mumuni Adio (Buba Marwa), all leading to various jetties in the area.

The Irede-Navy Town-Mumuni Adio and Old Ojo Roads provide a link to both the Lagos Blue Line Rail on the Lagos Badagry Expressway and the water component of the multi-modal transportation initiative with many jetties along the axis.

The roads connect the rail component on the Lagos Badagry Expressway to the Inland Waterways terminal with major linkages to residential

and commercial areas.

Irede Road is a 2.20km road off the Lagos-Badagry Expressway and terminates at the Irede Jetty for water transportation to the riverine communities of Ibasa, Ibeshe, Ilashe, and Imoore.

Mumuni Adio Road serves as the major arterial that provides access from and into Tank Farms and Industries in Ijegun Egba, a major petroleum products depot within the corridor, was constructed as a semi-urban road about 40 years ago.

Navy Town Road leads to Ijegun Imoren Jetty and also connects the Old Ojo Road to Central Bank Estate, Training School, and Navy Town.

The governor also conducted a groundbreaking ceremony of 1,500 lock-up shops at Iba Junction.

He stated the government would ensure that when completed, the prices

of the shops would be made affordable to the rightful owners. However, Sanwo-Olu warned: "Tell, them, I do not like the refuse on our roads. We will really come hard on those that are defacing our environment. We want to ensure that the best is expected, we want this area to also look like Ikoyi.

"We have completed the phase I of Old Ojo road but we promise you to complete the second phase to Mazamaza."

The Senate Public Account Committee (SPAC) yesterday issued a seven-day ultimatum to the project coordinator of Hydrocarbon Pollution Remediation Project (HYPREP), Prof. Nenibarini Zabbey, over the N17 billion for the cleanup of polluted areas in Ogoni land. The committee at a press briefing in the National Assembly said the ultimatum followed the refusal of the HYPREP boss to honour its invitations.

Zabbey was invited by the panel to provide details of the utilization of the N1.1bn in the project`s 2022

budget, and an additional N16.6bn in the 2023 budget “to clear some undocumented contaminated sites.” Chairman of the committee, Senator Aliyu Wadada, (SDP Nasarawa West) handed down the threat.

He said the panel, in view of the behaviour of the head of the project resolved to give up to 4th February, 2025 for him to appear before its members.

He said if he fails to appear, other legislative measures would be invoked to compel his attendance. It also demanded details of the utilization of the project`s provision in the 2024 budget, as and evidence of remittances it made to “FIRS (VAT

& WHT) for the year 2022 to 2024”; as well as the general and current state of the Ogoni land.”

Wadada said HYPREP must further provide insights into appropriations for the project and other intervention funds, and how much it has received from the federal government.

He listed the number of times the committee extended invitations to Zabbey to include December 18, 2023, January 15, 2024, January 28, 2024, February 28, 2024, March 6, 2024, May 22, 224, and January 25, 2025 respectively.

He said: “As you know, based on the constitutional responsibilities on this committee, we are scheduled to

take the position of coordinator of HYPREP today.

“Unfortunately, he is not here again and this is not the first invitation to HYPREP based on the response that the committee had, or got from him on status enquiry.

“In fact, this is the schedule of the invitation extended to the coordinator of HYPREP.

“He wrote the committee on the January 12 2023 to explain his reason for not being able to respond to that invitation. And the reason was that he had an earlier engagement.

“The committee extended understanding and expected him on the 15 of January 2024.

While stressing that the government is handing over four roads, the governor said residents should take good care of the infrastructure to encourage more developmental strides. His words: "We need to change the landscape of this area permanently. We need to go back and look at the realignment so that we can have vehicular movement across the waterways.

"We are happy with the modern infrastructure development we have brought. I want to assure you that we will continue to work harder for more."

Afenifere Tasks Tinubu on Nigeria's Security Situation

James Sowole in Abeokuta

Worried by what it described as unabated terrible security situation in the country, the Pan Yoruba Socio-Political Group, Afenifere, yesterday, reiterated the call on President Bola Tinubu, to take bold, positive and ideological steps to ensure genuine protection of life and property all over the country.

The group also reiterated the position that Nigeria with its vast territory, population and as a federation cannot be effectively and meaningfully secured with a single command unitary police structure and thus the need for the restructuring to ensure immediate constitutional institutionalization of state police.

The call by Afenefere was contained in a communique issued at the end of its general meeting, held in the residence of the leader, Chief Ayo Adebanjo, at Isanya -Ogbo, Ogun State and

attended by delegates from the six states in the South-West geopolitical zone and Kogi and Kwara states. According to the communique signed by the National Publicity Secretary, Prince Justice Faloye, the terrible security position which worsened under the Buhari administration had remained unabated.

The communique stated:

"Afenifere reiterates the position that Nigeria with its vast territory, population and as a federation cannot be effectively and meaningfully secured with a single command unitary police structure and thus the need for the restructuring to ensure immediate constitutional institutionalization of state police.

"The steps will prevent a situation the Governor of Oyo State, Mr. Seyi Makinde, even as the Chief Security Officer had to helplessly and lamentably make an outcry on the infiltration of bandits into his state."

Sunday Aborisade in Abuja

Segun James

Nigerian

(NACCIMA), Dele Kelvin Oye Esq.; Minister of Marine and Blue Economy, Adegboyega Oyetola, CON, and the National Coordinator of the Nigeria AfCFTA Coordination Office, Olusegun Awolowo, at the National Single Window (NSW) Project Stakeholders' Forum, taking place in Lagos between January 28th and 30th, 2024.

US NTSB Begins Probe into Lagos-Washington

United

Chinedu Eze with agency report

The US National Transportation Safety Board (NTSB) yesterday announced that it has started an investigation into United Airlines Flight 613 that left Lagos last Thursday to Washington D.C and experienced an emergency landed that led to injuries of passengers and cabin crew.

Reuters reported that the NTSB said the incident on United Airlines flight occurred as the Boeing B787 was flying in Ivory Coast airspace.

According to the report, aviation officials in Ivory Coast delegated the investigation to the NTSB, which

Airlines Emergency Landing

would issue a preliminary report within 30 days.

United said the flight to Washington Dulles in Virginia with 245 passengers, three pilots, and eight flight attendants, returned to Lagos after the unexpected aircraft movement and a technical issue.

The plane landed safely in Lagos and four passengers and two flight attendants were seen at a hospital for minor injuries and have been released.

"We are working with aviation authorities in the US and Nigeria to understand the cause," United stated.

The flight took off from Nigeria’s commercial city, Lagos on Thursday

night, January 23, 2025, but was forced to declare emergency and made air return after about two hours of flight out of the departure airport.

The Nigeria Civil Aviation Authority (NCAA) said it was investigating the cause of the incident and examining the aircraft Flight Data Recorder (FDR) to ascertain exactly what happened.

The Federal Airports Authority of Nigeria (FAAN) which conducted the rescue of the passengers on return to Lagos airport, had said its rescue team safely de-boarded 256 souls on board when the aircraft made the emergency landing.

“United Airlines airplane Boeing

787-800 departed from Murtala Muhammed International Airport (MMIA), Lagos, at 23:59 on Thursday, January 23, 2025. Hours later, the aircraft made an air return and landed safely at 03:22 this morning.

“On board were 245 adults and 11 crew members. The team of Aerodrome Rescue and Fire Fighting Services (ARFFS), Aviation Medical and, Aviation Security (AVSEC) were already at the gate when the aeroplane parked for de-boarding at D31 without incident, and the door was opened at 03:37.

“While all passengers and crew disembarked safely, four passengers and two crew members sustained

serious injuries, and an additional 27 passengers and five crew members had minor injuries.

“The rescue team responded swiftly and effectively, having been on alert and standby just four minutes after the pilot reported distress at 01:20.

“Aviation Medical ambulances transported the injured passengers— some to the MMA Clinic and others to the Headquarters Clinic. Those with minor injuries received first aid and were discharged immediately, while those with serious injuries were stabilised and transferred to the Duchess Hospital in Ikeja. Some passengers were also taken to a hotel

EL-RUFAI: WE'VE POOR LEADERSHIP TODAY BECAUSE CUNNING PEOPLE, ILLITERATES ARE LEADERS

Former Governor of Kaduna State, Malam Nasir el-Rufai, has said the problem of poor leadership in the country has its roots in the leadership recruitment process, stressing that a surfeit of delegates who elect candidates in the political parties are illiterate.

El-Rufai made the assertion yesterday in Abuja while speaking with journalists at the end of a two-day national conference on strengthening democracy in Nigeria, organised by Centre LSD And Partners.

He said he had no intention of leaving the ruling All Progressives Congress (APC), contrary to recent reports.

The former governor said he was only being hard on his party because he wanted it to change.

On January 8, el-Rufai had met behind closed doors with the leadership of Social Democratic Party (SDP) at the party’s national secretariat in Abuja.

At the meeting were former Chief Security Officer to the late Gen. Sani Abacha, Major Hamza Al-Mustapha (rtd), and Atiku’s former spokesman, Segun Showunmi, among others.

Showunmi had in a post on his verified Facebook page described the meeting as a “strategic gathering” convened by SDP chairman, Shehu Gabam, to evaluate the state of opposition politics in Nigeria.

The move was, however, widely seen as part of ongoing plans to form a formidable coalition capable of defeating APC and President Bola Tinubu in 2027.

But el-Rufai said yesterday, “I am not leaving the APC. I don't have such plans.”

However, he lamented the lack of internal democracy in the ruling party.

The former governor of Kaduna State criticised the quality of leadership emerging from political parties, attributing it to unqualified delegates

He stated, “I no longer recognise the APC. No party organ has met in two years – no caucus, no NEC, nothing. You don’t even know if it is a one-man show or it’s a zero-man show.

“You cannot afford to have illiterates, semi-illiterates, and cunning people as your leaders. This is why we end up with the poor leadership we have today.”

El-Rufai said APC was originally established to combat corruption, rebuild the economy, and enhance

security, but the goals had been abandoned.

“The problems that led to the creation of the APC remain unresolved, but I no longer believe the APC is interested in addressing them,” he stated.

“The distance between me and the party is widening,” el-Rufai added, alleging that there are mercenaries in the opposition Peoples Democratic Party (PDP) employed to destroy the party.

He explained, “There are internal mercenaries in the PDP, hired and motivated to destroy the party. The Labour Party is also facing similar issues.

“Peter Obi himself told me, ‘I don’t know what’s happening in the party I contested with.’ There seems to be a deliberate project to destroy opposition parties.”

But reacting to the former governor’s comments, Special Adviser on Public Communications and Media to the President, Daniel Bwala, wondered if el-Rufai would have held the same opinion if he was still in government.

Bwala wrote, in reply to the former governor of Kaduna State, “My senior brother, if you were to be in the government and cabinet,

would you have held and expressed the same position? History is replete with examples.

“It is a government you participated in its formation, that you now want to unseat. Haba Mallam, a Ji soron Allah mana.”

Nonetheless, the democracy conference observed that the centralisation of the election management system negatively affected the efficiency and effectiveness of the Independent

National Electoral Commission (INEC).

In a communique issued yesterday, the conference called on INEC to deepen the space for political participation by allowing the registration of new political parties as enshrined in the constitution.

Reading the communique on behalf of the organisers, Dr. Otive Igbuzor and Ezenwa Nwagu expressed concern that it appeared there were

clandestine moves by politicians in power to fix their cronies into INEC in readiness for the next election. The communique said, “INEC should promote the decentralisation of election management in Nigeria to enhance efficiency, transparency, and inclusivity by empowering regional and local structures to oversee electoral processes, address logistical challenges, and engage communities more effectively.

António Guterres Urges World to Stand Up against Hate

The United Nations Secretary-General, António Guterres has called on citizens of the world to speak up against hate and stand up for human rights. Guterres in his speech to commemorate this year’s International Day of Commemoration in memory of the victims of the Holocaust, said this year marked the 18th anniversary of the Holocaust’s end.

He said: “We mourn the six million

ATIKU’S POLITICAL DESPERATION RESPONSIBLE FOR PDP’S TRAGIC DISINTEGRATION, SAYS APC

ence on strengthening democracy in Nigeria, on Monday in Abuja, warned that the country's democracy was imperilled by excessive judicial involvement in electoral matters.

He also placed the current woes of the opposition parties at the door of the governing APC.

But Morka, in the statement, said without a shred of evidence, Atiku alleged that President Bola Tinubu was paying certain opposition leaders a whooping N50 million each.

He recalled that it was in the Atiku era as vice president, particularly between 2003 and 2007, that PDP conducted the worst elections in the country’s political history.

The APC spokesperson stressed that they could not possibly forget how Atiku’s PDP heavy-handedly captured most South-west states and vowed to remain in power for 60 years.

Morka said it was in those same years that former President Olusegun Obasanjo infamously described the election as a "do-or-die affair" in a desperate attempt to annex Lagos State.

“If democracy was neither derailed nor endangered in those perilous days, is it now that elections are by far freer, fairer and more credible that Nigeria risks losing democracy?” he asked.

Morka added that the judicial arm of government was a constitutional creation, like the executive and legislature, with its constitutionally defined powers to adjudicate disputes among citizens and between citizens and the state.

He pointed out that Atiku could not wish away or seek to abolish enshrined powers of the courts to intervene in civil disputes, including electoral disputes, in cases where the authority of the court was validly invoked by a litigant.

Morka stated, “It is a thing of irony that Atiku, who is Nigeria’s most prolific electoral litigator, would make such a ludicrous claim that judicial involvement in electoral matters is

a threat to democracy.

“His criticism of the courts and the electoral process rings hollow given his long history of using the courts to further his political agenda. It's time for him to take a step back and let the democratic process unfold without his interference.

“Nigeria's democracy is far stronger than Atiku's political ambitions. We deserve better than petty politicking and alarmist rhetoric from an elder statesman.

“As a veteran politician, one would expect Atiku to understand that while democracy may be about winning elections, it is, more importantly, about respecting the will of the electorate and working towards the greater

good of all.”

The ruling party said Atiku should focus on rebuilding his party and offering constructive solution to Nigeria's challenges.

It stated that Atiku's allegation that the APC administration was paying out N50 million to some opposition figures was bogus and laughable.

According to the statement, “Atiku knows that his political desperation is responsible for PDP’s catastrophic disintegration. Peddling rumours and unsubstantiated allegations should be beneath anyone in the standing of an elder statesman, a former Vice President and a serial contestant for the exalted office of President of the Federal Republic of Nigeria.

“The bizarre suggestion by opposition figures like Atiku, Peter Obi, and recently, aggrieved leaders like Mallam Nasir El-Rufai that our great party may be complicit in the internal corrosion of opposition parties is pitiful, and only an incompetent alibi for their crass failure to manage their own affairs.

“They cannot govern their parties but tout their ability to govern Africa’s most populous country.

“As discerning citizens, Nigerians know better than to be distracted by the false alarm and hollow allegations of desperate politicians whose only goal is shore up their political relevance in the build-up to 2027 general election.”

Jews murdered by the Nazis and their collaborators, as they sought to destroy an entire people.

“We grieve the Roma and Sinti, the people with disabilities, and all others enslaved, persecuted, tortured, and killed. We stand alongside victims, survivors and their families.

“And we renew our resolve never to forget. To allow the Holocaust to fade from memory would dishonour the past and betray the future. Remembrance is a moral act. And a call to action.

“To know the history of the Holocaust is to know the depths to which humanity can sink.

“To understand how the Nazis were able to commit their heinous crimes, with the complicity of others.

“And to comprehend that each of us has a solemn duty – to speak-up against hate, and to stand-up for the human rights of all.”

He added that: “Following the hell of the Holocaust, countries came together. And they enshrined the dignity of every person in the Universal Declaration of Human Rights. In dark times, that document remains a shining light.

“Eighty years since the Holocaust’s end, antisemitism is still with us –fuelled by the same lies and loathing that made the Nazi genocide possible.

“And it is rising. Discrimination is rife... Hate is being whipped-up the world over.

Indisputable historical facts are being distorted, diminished, and denied. And efforts are being made to recast and rehabilitate Nazis and their collaborators. We must stand up to these outrages.

“In these days of division – and more than a year since the appalling 7th October terror attacks by Hamas – we must hold fast to our common humanity.

“We must condemn antisemitism – just as we must condemn all forms of racism, prejudice and religious bigotry. And we must renew our resolve to defend the dignity and human rights of all.

“Those causes go to the very core of the United Nations. We will never forget – and we will never waver in that fight.”

Speaking at the commemoration of the day at the United Nations House in Abuja, the Israeli Deputy High Commissioner to Nigeria, Ms. Inbar Lipman Garden said: “On this solemn day, we remember the six million Jewish men, women, and children who were murdered in the Holocaust- alongside millions of others who suffered under the Nazi regime.

TINUBU, 11 AFRICAN LEADERS SIGN DAR ES SALAAM DECLARATION FOR ELECTRICITY ACCESS TO 300M AFRICANS BY 2030

African leaders at the Julius Nyerere International Convention Centre.

Following the reading of the Declaration, leaders from Nigeria, Chad, Côte d'Ivoire, the Democratic Republic of the Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Senegal, Tanzania, and Zambia signed the document.

Through the Declaration, the leaders from the 12 countries expressed their commitment to ensuring electricity access for their citizens in the next five years.

The 12 nations planned to achieve the goal through National Energy Compacts, which would identify specific policy measures to address constraints across their energy sectors and set targets based on their unique contexts.

In a speech read by Minister of Power, Adebayo Adelabu, the Nigerian leader lauded AfDB, World Bank Group, and development partners for their collective pledge to bring electricity access to 300 million people in Africa by 2030.

Tinubu called on African leaders to prioritise energy access, emphasising collective action.

The president said in the speech

read by the minister, "Let us work together to create a brighter future for our citizens—where every African can access reliable and affordable energy.

"A future where our industries thrive, our economies grow, and our people prosper."

Tinubu also used the occasion to reaffirm Nigeria's commitment to providing reliable, affordable, and sustainable electricity to its unelectrified population by 2030.

"This is an ambitious goal, but we can achieve it together,” he said, adding, “As Nigeria's President, I am committed to making energy access a top priority."

Detailing the substantial progress Nigeria had made with the support of international development partners, Tinubu acknowledged AfDB's $1.1 billion, expected to provide electricity for five million people by the end of 2026, while its $200 million in the Nigeria Electrification Project will provide electricity for 500,000 people by the end of 2025.

The president said, "We also look forward to the AfDB's planned $700 million investment in the Nigeria Desert to Power programme and

its planned $500 million facility for the Nigeria-Grid Battery Energy Storage System, which will provide electricity for an additional two million people.

"We have equally begun making plans to ensure the effectiveness of the World Bank's $750 million support for expanding Nigeria's distributed energy access via mini-grids and standalone solar systems that will provide access to power to 16.2 million people."

Tinubu thanked President of the World Bank Group, Ajay Banga, and Dr. Akinwunmi Adesina of AfDB for their transformative vision, which he said "will light up and power Africa".

He also applauded the contributions of the UN Sustainable Energy For All, the Rockefeller Foundation, and the Global Energy Alliance for Development.

The president said, "As we all know, Africa is rich in energy resources, yet millions of our citizens still lack access to reliable and affordable energy.

"This situation is unacceptable. It is our responsibility to take collective action to change this narrative."

Tinubu highlighted ongoing investments in renewable energy, particularly solar power in Nigeria.

According to him, "For example, the federal government is in the final stages of developing an electric vehicle (EV) charging infrastructure programme emphasising renewable energy and establishing stricter vehicle emission standards.

"This will ease adoption barriers, galvanise partnerships, and provide affordable EV financing options. I am pleased to announce that the first 100 electric buses are already in the country.

"Nigeria's energy sector is growing as a direct result of our reforms. The Nigerian government continues incentivising those interested in investing in renewable energy, oil and gas energy efficiency."

The president said buoyed by Nigeria's successful attraction of over $6 billion in new investments into its energy sector in 2024 alone, his administration was keen to build on the success in 2025 and beyond.

At the summit the International Finance Corporation (IFC) announced that it had committed $70 million in private sector funding to

five Nigerian Renewable Electricity Service Companies (RESCOs) under the Nigeria Distributed Access Through Renewable Energy Scale-Up (DARES) programme.

The Rural Electrification Agency (REA) will implement the project. Nigeria's National Energy Compact, presented at the summit on Monday, sets targets with implementation timelines and outlines the various planned reforms. They include expanding power generation and investing in transmission and distribution infrastructure at competitive costs, working towards financially viable utilities that provide reliable service, and incentivising private sector participation to unlock additional resources.

Other reform actions include embracing distributed renewable energy and clean cooking solutions for affordable last-mile access and leveraging the benefits of increased regional integration. According to the document, Nigeria will require an investment of $23.2 billion for last-mile electrification, including contributions from the public and private sectors.

Chuks Okocha and Adedayo Akinwale in Abuja

NTSB chair, Jennifer Homendy

Michael Olugbode in Abuja

Acting Group Politics Editor DEJI ELUMOYE

Email: deji.elumoye@thisdaylive.com

08033025611 sms only

Aregbesola: What’s Next on the Political Radar?

Former Governor of Osun state, Ogbeni Rauf a regbesola, may be working towards making a major political move shortly after he and his numerous supporters dumped the a ll Progressives Congress in Osun state. Adedayo Akinwale writes.

For so long, the former Governor of Osun state, Ogbeni Rauf Aregbesola was one of the formidable foot soldiers of Asiwaju Bola Tinubu, the President of Nigeria.

Even when Tinubu was the governor of Lagos State, Aregbesola was his Commissioner for works, the position he held till he contested for the governorship position in Osun.

He had so much power that he became the go-to person if Tinubu was proving difficult on anything. He was one of his most trusted lieutenants. Because of the enormous political power he wielded within the Tinubu political family, he was the lord of Alimosho.

After the tsunami that swept away the Alliance for Democracy (AD) in the 2003 elections in the South-west, leaving Lagos as the only surviving state, Tinubu who was then the Governor of Lagos State decided to form the Action Congress (AC) in order for him to have total grip on the party. The formation of AC led to the untimely death of AD. The AC later metamorphosed to Action Congress of Nigeria (ACN) before it fused into the All Progressives Congress (APC).

However, during the 2007 elections, Tinubu single-handedly brought little known Aregbesola to Osun to contest the governorship election. It was an open secret that Tinubu also bankrolled the election. Though INEC declared former Governor Olagunsoye Oyinlola, who was re-econtesting for a second term in office as the winner, the Supreme Court subsequently annulled the election and declared Aregbesola as the winner in November, 2010.

While he held sway as governor of Osun state, Aregbesola continued to wield enormous political power in Alimosho, Lagos state which serves as his political base. Despite serving as a governor in Osun, Tinubu doesn’t take any step without Aregbesola’s input. So much was the confidence and trust Tinubu had in him.

In fairness to Aregbesola, he was equally loyal to Tinubu to a fault.

Following the completion of his two terms of eight years in office, Aregbesola, against the mood of the state and in respect to Tinubu thwarted the zoning formula in the state, to ensure his cousin, Gboyega Oyetola emerged as governor in 2018.

The governorship seat had earlier been zoned to Osun West that had been marginalized for a long time. The political move almost cost the APC the election before a needless rerun was ordered by the Independent National Electoral Commission (INEC).

Aregbesola’s cold war with Oyetola

It wasn’t long before Aregbesola and Oyetola fell out. Both of them became political enemies. Prior to the 2022 governorship poll, Aregbesola and the APC in Osun had been at loggerheads over issues of anti-party activities.

Aregbesola, who is the immediate past Minister of Interior along with his supporters were firmly opposed to the re-election bid of Oyetola saying he betrayed him.

The political differences led to the formation of The Osun Progressives (TOP), a pressure group within the APC which mobilised support against Oyetola.

His attack on Tinubu

While his political battle with Oyetola rages ahead of the 2022 governorship election in Osun and 2023 general election, Aregbesola did not spare his erstwhile leader, Tinubu in the attack.

He maintained that the same treatment given to Akinwumi Ambode in Lagos would be given to Oyetola.

“As it was in Lagos yesterday, so shall it be in Osun today. What is good for the goose is also good for the gander. Only God can terrify us, not man. Go and tell them wherever they are, we own this party. We own this Afenifere group. We own this people-loving group started by our patriarchs, Obafemi Awolowo and Bola Ige. This was Elder Akande’s group before he temporarily left us.

“That was how it was in Lagos at a time; a governor derailed and the party members unseated him using the ballot boxes. We exalted him beyond his status and he turned himself to a god over us and we had sworn to ridicule anyone who compares himself to God. God has no competitor; He is enough to be God,” Aregbesola had said then.

After the APC lost the Osun governorship poll in 2022, the group was dissolved and subsequently metamorphosed to Omoluabi

Progressives.

Aregbesola’s Suspension

In October 2024, Aregbesola was suspended from the party through a resolution sent to the State Working Committee (SWC) by his Ward Executive citing anti-party activities.

The party in a resolution signed by the ward Chairman, Tajudeen Lawal and forwarded to the National Chairman of the party, Dr. Abdulahi Ganduje accused Aregbesola of creating divisions within the party by establishing a splinter faction.

The APC in Osun claimed Aregbesola’s actions have fueled internal divisions, with party leaders asserting that his influence on certain groups has caused significant discord

His Loyalists Quit APC

With the political war showing no sign of abating, Aregbesola’s loyalists decided to quit the ruling party last weekend.

Spokesperson of the group, Abosede

Before his expulsion from the party, political leaders from the six geo-political zones have already started political realignment to wrest power from the ruling APC ahead of the 2027 elections. A movement Aregbesola is believed to be part of. Barring any last minute change, with the crisis in the PDP that has remained intractable, while peace also appeared to have eluded the l abour Party, as well as the growing numbers of aggrieved members of APC, plans to fuse these like-minds into the social Democratic Party has been set in motion.

Oluwaseun, said members resolved to quit APC because of “ostracisation from the party, suspension and expulsion of leaders without fair hearing, and continuous denigration of the structure.” Oluwaseun, who said the members, expressed their readiness to join another political party ahead of the 2026 Osun governorship election.

While addressing the stakeholders, the former governor said it was time to work “aggressively” to entrench good governance in Osun.

His words: “The path we have toed is a smooth path, highly reassuring and full of good tides that will propel our dear state to greatness. Therefore, you must show more commitment and attract genuine people who are ready to walk this path of righteousness with us. We are open to all regardless of political, religious, or socio-cultural leanings. We have the numbers, strength, and political acumen to provide a leadership that will make Osun the toast of its peers. By the grace of God, we shall succeed.”

Why Aregbesola quit APC

Meanwhile, fresh facts have emerged over the decision of Aregbesola and his supporters to leave the APC. Checks revealed that the decision might not be unconnected with his impending expulsion from the party.

A letter dated January 7, 2025 and jointly signed by the Chairman and Secretary of the APC, Tajudeen Lawal and Kamoru Alao said that Aregbesola has been immediately suspended.

The letter read in part: “We write to formally bring to your attention the findings and resolution arising from the disciplinary process initiated concerning allegations of anti-party activities levelled against you by the Disciplinary Committee, where you were allowed to be heard by the principles of natural justice. At the end of the investigation, the State Executive Committee (SEC) considered the report of the Disciplinary Committee.

“Having carefully considered the findings and recommendations of the Committee, SEC has resolved to accept the recommendation of your immediate expulsion from the All Progressives Congress.

“The decision was predicated on the clear evidence of your actions, which undermined the unity and integrity of the Party in violation of the provisions of Article 21 of the APC Constitution guiding the conduct and discipline of members.

“As a result, with the approval of your expulsion, you cease to be a member of APC. Consequently, you are not to hold yourself out as a member or act in any capacity on behalf of the party in any manner whatsoever.

“While acknowledging your past contributions to the party, we trust that you will comply with this decision and act according to the directives in this communication.”

Before his expulsion from the party, political leaders from the six geo-political zones have already started political realignment to wrest power from the ruling APC ahead of the 2027 elections. A movement Aregbesola is believed to be part of.

Barring any last minute change, with the crisis in the PDP that has remained intractable, while peace also appeared to have eluded the Labour Party, as well as the growing numbers of aggrieved members of APC, plans to fuse these like-minds into the Social Democratic Party has been set in motion.

Aregbesola

Kayode Tokede

Following the Central Bank of Nigeria (CBN) reforms in the foreign exchange market, foreign investors’ transactions in the stock market of the Nigerian Exchange Limited (NGX) reached a total of N852.03 billion in 2024, making it the highest record since 2019.

This is about 107.5 per cent increase from N410.62 billion total transactions recorded by foreign investors in 2023.

According to the Domestic and Foreign Portfolio Participation in Equity Trading report by the NGX, both domestic and foreign investors’ transactions closed 2024 at N5.59 trillion, representing 56.1 per cent increase over the N3.58 trillion declared in 2023.

The stock market in 2024 had appreciated by N20.99 trillion to N61.912 trillion from N40.918 trillion in 2023, attributable to new

listings, aggressive buying interest in fundamental stocks, improving foreign investors participation, among other factors.

Of the N5.59 trillion, domestic investors transaction stood at N4.73 trillion, an increase of 49 per cent from N3.17 trillion reported by the Exchange in 2023. This means domestic investors in 2024 contributed 84.75 per cent out of the overall N5.59 trillion transactions, while foreign investors contributed 15.25 per cent in 2024 from 11.48 per cent declared in 2023.

The N4.73 trillion growth by domestic investors reflects a robust contribution from retail investors, which stood at N2.31 trillion in 2024 from N1.12 trillion in 2023, while institutional investors’ activity increased from N2.05 trillion in 2023 to N2.43 trillion in 2024.

For context, retail contribution accounted for 48.7 per cent of total domestic transactions—

underscoring the growing role of individual investors, while institutional contributed 51.3 per cent on increasing exposure of Pension Fund Administrators (PFAs) to the stock market section of the Exchange.

An investigation by THISDAY showed that foreign investors in 2022 and 2021 contributed 16.32 per cent and 22.88 per cent of the overall transactions, respectively.

According to the NGX report, out of the N852.03 billion by foreign investors, inflow stood at N396.41billion in 2024 from N174.8 billion in 2023, while outflow moved from N235.82billion in 2023 to N455.62 billion in 2024.

The CBN recently implemented significant reforms in the foreign exchange market aimed at enhancing transparency, compliance, and market stability.

These reforms are part of the CBN’s broader strategy to create a

fairer, more stable FX market and support economic growth through better monetary policies.

In tandem with these reforms, the CBN has also implemented aggressive Monetary Policy Rate (MPR) hikes, with the goal of curbing inflation and stabilizing the naira, a move supported by the International Monetary Fund (IMF).

Analysts stated that the Nigerian stock market showed less volatility signs amid a new era of unpredictability, marked by tariff threats and rising global tensions, that may prompt emerging market investors to look for shelter in frontier markets that are relatively safe from US President Donald Trump’s trade policy shifts.

Commenting on foreign investors participation in the stock market in 2024, the Managing Director Arthur Steven Asset Management Limited (ASAM),

Mr. Olatunde Amolegbe stated that foreign capital inflows have steadily increased, from a low of four per cent in mid-2023 to an average of 16per cent as of November 2024.

He expressed that Nigeria’s relative market attractiveness, if supported by stable policies, could lead to increased foreign portfolio inflows (FPI).

“We projected 39per cent return on the All-Share Index (ASI) driven by ongoing bank recapitalization, fresh equity listings, and anticipated monetary policy easing by the CBN. The recapitalization process is expected to boost investor confidence, while new listings like the Dangote Refinery will enhance market liquidity,” he said.

On his part, Vice President, Highcap Securities Limited, Mr. David Adnori attributed the increase in foreign investors participation to federal government moves to

resolved foreign exchange backlogs, stressing that the move increased investors’ confidence and it sustained rally in the stock market.

“The increase in yield on debt instruments attracted foreign investors to the debt market. The combination of all these factors increased FPI into the capital market. In summary, Nigeria’s high-yield environment, recent regulatory reforms, a large and growing market, and supportive international signals make it an attractive destination for foreign investors seeking growth and diversification,” he added.

The governor of the CBN, Mr Yemi Cardoso, had said the apex bank is addressing the long outstanding balance from the $7 billion foreign exchange transaction backlog it inherited from the previous administration.

Ekeghe

Experts in the financial service sector have called on the Central Bank of Nigeria (CBN) to deploy 25 per cent of Cash Reserve Ratio (CRR) fund to critical sectors of the economy at a capped interest rate of 20 per cent, stressing that this would be a pivotal strategy to addressing Nigeria’s economic challenges.

This was contained in the latest report by CFG Advisory, which noted that if the strategy is implemented, it could significantly reduce average lending rates, boost productivity, and drive

GDP growth.

The report written by the Chairman of Fidelity Bank, Mustafa Chike Obi and the Chief Executive Officer CFG advisory, Adetilewa Adebajo, observed that reducing lending rates would also close the gap between Nigeria’s actual and potential economic output, narrowing the output gap that has hindered the country’s progress.

The report reiterated that this measure would not only stabilise the economy but also ensure that financial resources are channeled to sectors that yield the highest impact on GDP growth.

The report, titled, “Adverse Effects of High Interest Rate Spreads on the Nigerian Economy,” stated, “The high interest rate to deposit spread in Nigeria has significant consequences for GDP growth rates. A wide spread is a consequence of high lending rates, relative to low deposit rates, making it more expensive for individuals and businesses to borrow money. This can reduce investment, consumption, and economic growth.

“Furthermore, a high-interest rate spread can also lead to a decrease in deposit rates, making saving less attractive. This can

reduce the amount of money available for banks to lend, further exacerbating the problem.

In Nigeria, the high-interest rate spread has been shown to have a negative impact on the output gap, which is the difference between the actual and potential output of the economy. A high-interest rate spread can also lead to a decrease in manufacturing output, as high lending rates make it more expensive for manufacturers to borrow money.”

It added, “Overall, the high interest rate to deposit spread in Nigeria from our research, shows an inverse correlation with GDP

growth making it essential for policymakers to address this issue.

Key consequences are reduced investment as high lending rates make it more expensive for individuals and businesses to borrow money, reducing investment, consumption and decrease in deposit rates, making saving less attractive. The negative impact on output gap in Nigeria, has decreased manufacturing output as is it more expensive for manufacturers to borrow money, which in turn affects productivity and reduced GDP growth rates.”

On specific recommendations, the report stated: “Release of 20-25

per cent CRR funds to be directed to lending to critical real sectors of the economy at an interest rate of not more than 20 per cent. This will reduce average lending rates, stimulate productivity, and increase GDP growth.

“Rationalise the statutory costs to banks AMCON, NDIC, EMTL, Cybersecurity tax, Windfall tax, and other taxes and levies that reflect on the interest rate spread. These costs are passed unto the customers by a lowering of deposit and increase in lending rates and effective coordination of fiscal, monetary, trade, industry and industrial policies.”

Nume

TOWARDS NATIONAL SINGLE WINDOW IMPLEMENTATION…

L-R: Minister for Marine & Blue Economy, Adegboyega Oyetola; Chair Senate Committee on Finance, Senator Sani Musa; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; Chairman Federal Inland Revenue Service (FIRS), Mr. Zacchs Adedeji; Managing Director Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho and Head National Single Window Secretariat , Mr. Tola Fakolade at the National Single Window Stakeholders’ Forum in Lagos… yesterday

The insurance sector in the third quarter 2024, posted Gross Premium written of N1.173 trillion against N1.003 trillion gross premium it

posted in 2023. Similarly the sector grew its assets to N3.388 trillion against N2.7 trillion assets growth in 2023. With these achievements, the sector successfully sustained its

growth trajectory at 60.9 per cent year-on-year and 44.3 per cent on a quarter-on-quarter basis.

This is contained in the latest publication of the National Insurance Commission(NAICOM) on the

industry’s performance tagged, “Bulletin of the Insurance Market Performance Q3 2024.”

NAICOM in the publication said the insurance sector showed resilience amid macro-economic challenges.

NAICOM, NCAA Form Technical Committee on Aviation Matters

The National Insurance Commission(NAICOM), has collaborated with the Nigerian Civil Aviation Authority (NCCA) to constitute a Joint Technical Committee on aviation related matters.

NAICOM, said the primary objective of the committee was to reaffirm the commission’s long-standing commitment to safeguarding the interests of policyholders.

NAICOM, said in the event

of any accident or incident, the committee would ensure that all affected third parties received fair compensation and would be properly indemnified.

At the committee inauguration ceremony which took place at NAICOM’s office in Abuja, the Deputy Commissioner for Insurance Technical, Dr Usman Jankara, who represented the commissioner for Insurance, Ayo Omosehin, highlighted

the terms of reference for the joint committee as verification of certificate of insurance and other insurance related documents of airline operators, affiliate agencies, and NCAA service providers.

Provision of technical support to NCAA on insurance matters, coordination /facilitation of resolutions of complaints of airline operators on insurance covers and services during periodic meetings.

Provision of advice to NCAA on all aviation insurance related matters bordering on adequacy and validity.

In her response, the DGM, Financial Health & Aviation Insurance, Mrs Dorcas, the Leader of the NCAA Delegation, promised to dedicate herself and her team to their responsibilities. She pledged to exhaust all efforts in ensuring the successful attainment of the committee’s objectives.

Daikin Reaffirms Commitment to Growth, Expansion in Nigeria

Daikin Industries of Japan, the global leader in developing and manufacturing air conditioning, heating, ventilation, and refrigeration (HVAC-R) products and solutions, has reaffirmed its commitment to expansion and growth in the Nigerian market.

This position was echoed by the Chairman/ Managing Director of Daikin India, Kanwaljeet Jawa when he led a high-powered delegation of the company on a visit of the factory and assembly plant of its Nigerian partner- Sacral Industries Limited.

According to Jawa, Daikin has made significant investments in

the Indian market to prepare for the export market, especially to the African continent. He stressed that the company is committed to taking advantage of market opportunities in line with its aspiration to become a dominant brand in the African market.

“India can cater to the Nigerian market very well because the needs are similar, if you look at it from the standpoint of price, people’s requirements, processes, systems and brand. So, the combination of innovative Japanese technologies and the partner’s understanding of the local market will help a great deal in becoming number one in

the market,” he said.

While expressing immense satisfaction with the enormous work done by its partner, DaiTech Nigeria Limited, in the areas of knowledge transfer through skill enhancement and training, production scaling, and the delivery of eco-friendly products in the market, he acknowledged that the penetration of air conditioning was still low in Nigeria.

In his remarks, Chairman of Sacral Industries Limited, Bhojraj Rupani, expressed excitement about the renewed partnership with Daikin, noting that it was poised to deliver the best quality

and affordable products to Nigerian customers.

Rupani noted that given its established presence and potential in the Nigerian market, he was confident that Daikin would make consistent progress.

“With DaiTech, we are building a strong base here for Daikin. Given the potential of a market like Nigeria, we are confident we will work together to make consistent progress and bring the best quality and price that Daikin is now working to offer in the market. We feel privileged to partner with Daikin and bring the best of Daikin to Nigeria,” he said.

The commission said the N1.173.1billion gross written premium was a remarkable occasion attributable to the consistent deepening policy of the commission and market resilience.

According to the commission, the performance was majorly led by the non-life sector, which recorded a market share of 68.9 per cent for a total volume of N808.4billion while the life segment accounted for 31.1 per cent of the market premium aggregate.

The industry statistics reveals that the market has achieved a substantial higher rate of growth compared to the national output (GDP) which grew at 3.5 per cent during the period under review, signifying its impressive performance and potential propensity.

The Non-Life segment maintained its dominance, accounting for 68.9 per cent of the total premium generated during the period, closely aligning with its 69.1 percent share in the previous quarter.

Within this segment, the report said the Oil & Gas portfolio led with a 35.2 per cent contribution, followed by Fire Insurance at 21.3 per cent, Motor Insurance

also accounted for 14.4 per cent while Marine & Aviation, General Accident, and Miscellaneous contributed 12.4 percent, 9.0 per cent and 7.5 per cent respectively.

According to the report, the life business on the other hand contributed 31.1 per cent of the total premium, gradually increasing its proportional share of the industry’s gross premium.

“Analysis of the Life Insurance segment also shows that, Annuity business accounted for 31.8 percent of the total gross premium, while Individual Life business led with about 41.8 percent contribution of all the life insurance premiums during the quarter,” the report said. The report said notwithstanding the experiments within the financial services sector, underwriters exhibited undoubted certainty and confidence, as reflected in the robust retention levels across the market.

On claims payment, the report maintained that the improvements in claims management of the industry has served as driver for expansion in gross claims reported in Q3 2024, reaching N564.1 billion which is representative of about 48.1 per cent of the total premiums generated during the period.

Sterling One Foundation is taking bold steps to address Nigeria’s education challenges, leveraging technology and strategic partnerships to provide innovative and inclusive learning solutions. In 2024 alone, the Foundation impacted over 20,000 individuals through programs aimed at empowering educators and students with STEM-focused tools and methodologies. With UNICEF reporting

18.3 million out-of-school children in Nigeria, the need for targeted educational interventions has never been more urgent. Sterling One Foundation’s initiatives aim to bridge these gaps and align with this year’s International Day of Education with theme: “AI and Education: Preserving Human Agency in a World of Automation.”

To address digital literacy and inclusion, Sterling One Foundation collaborated with CDIAL AI to launch the Indigenous Multilingual

Digital Literacy and Artificial Intelligence Hub in Ajegunle, Lagos. This program empowered 174 learners with AI-driven tools in 13 African languages, enabling education in native tongues and bridging gaps in underserved communities.

Commenting on the significance of technology in education, Sterling One Foundation CEO, Olapeju Ibekwe, stated: “The theme, ‘AI and Education: Preserving Human Agency in a World of Automation,’ underscores

the urgent need to integrate technology responsibly while ensuring education remains inclusive and human-centred.

At Sterling One Foundation, we recognize that achieving the Sustainable Development Goals, particularly SDG 4, requires accelerating efforts to bridge systemic gaps. By empowering educators and students with innovative tools and collaboration, we are building a future where quality education drives sustainable development and leaves no one behind.”

The president of the Chartered Insurance Institute of Nigeria (CIIN), Mrs Yetunde Ilori, has promised to keep flag of professionalism flying and to uphold the legacy left by the institute’s elders for the present generation of professionals shining like beacon of light.

She stated this while speaking at this year’s edition of the institute’s elders’ forum held in Lagos.

Ilori, who is the 52nd president of the institute said she would remain grateful to God for continued sustenance of lives of the institute’s elders and promised to continue to uphold the good legacy they left behind.

She equally thanked the activity committee of the institute for putting this year’s edition of the annual forum together adding that the year’s edition was the 11th in the series.

She said the elders’ forum has turned to be the first programme of the institute for every year where the industry seeks and receives the prayers and blessings of its elders for the new business year.

She said at the forum, the professionals also seek the advice of the elders on how to move the industry forward.

Ilori, acknowledged the significant contributions of past leaders, legacy of those who paved the way for the current generation, honored departed colleagues, and looked forward to a future of renewed commitment to professional excellence. With optimism for 2025, she called for a reawakening of the core values of professionalism, integrity, and service to humanity that have sustained the institute and the insurance profession as a whole. She urged the elders to be active mentors to younger generations, highlighting the unique responsibility elders carry in shaping the future of the profession and fostering intergenerational bonds.

“This year, 2025, is a year of renewal. A year in which we are called to reawaken the values that have sustained us and to redefine what it means to be leaders, mentors, and stewards of the profession. As elders, we hold a unique position— one that allows us to guide and nurture the younger generations who look to us for wisdom and direction. Our responsibility is both profound and sacred, and it is one we must carry with the utmost sincerity and dedication,” she said.

Nume Ekeghe

Stories by Ebere Nwoji

X-raying Transcorp Power’s Financial Milestones

n ume e keghe writes on Transcorps Power’s impressive 2024 results and the company’s effort toward enhancing the power sector

Transcorp Power Plc, a key subsidiary of Transcorp Group, has achieved significant financial milestones for the fiscal year 2024, with a performance that signals not only the company’s resilience but also its growing dominance in Nigeria’s power sector. Reporting a 115 per cent increase in revenue to N305.9 billion and a 165 per cent surge in Profit After Tax (PAT), Transcorp Power’s results reflect a company that has found its footing in a challenging macroeconomic environment.

The strong financial performance is complemented by a series of strategic maneuvers, from substantial debt repayments to robust operational efficiencies, all of which have bolstered investor confidence. This stellar performance was reflected in a 7.96 per cent increase in its share price in the days following the announcement of its results, reaffirming the market’s positive outlook for the company.

As the company continues to evolve, its growth trajectory paints a compelling picture of how strategic investments, operational discipline, and a commitment to shareholder value can transform a business, especially in a critical sector like power generation.

FY 2024 Financial PerForMance

Transcorp Power’s remarkable performance in FY 2024 was driven by a combination of strategic investments and a commitment to operational efficiencies. A closer look at the financial highlights offers insight into the company’s remarkable turnaround and growth:

Transcorp Power’s revenue surged to N305.9 billion in FY 2024, marking a 115 per cent increase from the previous year’s N142.1 billion. This is a testament to the company’s strengthened position within the energy sector, supported by its growing capacity and enhanced operational efficiency.

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

Speaking on the performance, the Chief Executive Officer, Transcorp Power, 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.”

The power sector in Nigeria has been beset with challenges ranging from a reliance on gas supply, inadequate infrastructure, and financing difficulties. Yet, Transcorp Power has effectively leveraged its infrastructure, such as its combined power generation assets, including its flagship Ughelli Power Plant, to drive growth. This not only reflects a stable revenue stream but also the company’s strategic investments in expanding and modernizing its power generation capacity.

Secondly, the company’s PAT soared by an impressive 165 per cent, rising from N30.2 billion in FY 2023 to N80 billion in FY 2024. This growth was driven by both top-line revenue expansion and an efficient cost management strategy that helped the company significantly improve its bottom line.

Thirdly, the reduction in Transcorp Power’s gearing ratio from 64.48 per cent in FY 2023 to 29.70 per cent in FY 2024 was a standout achievement for the company. This was achieved following the full repayment of its USD loan, a move that has greatly improved its financial stability.

DiviDenD

PolicY, MarkeT reacTions

The company’s focus on delivering value to its stakeholders is further evidenced by the proposed final dividend of N3.50 per ordinary share. This, combined with the interim dividend of N1.50 per share paid earlier in the year, brings the total dividend payout for FY 2024 to N5.00 per share. This commitment to rewarding shareholders is a testament to the company’s strong cash flow generation and its determination to maintain shareholder trust. By paying dividends, Transcorp Power aligns its growth strategy with the interests of its investors, reinforcing its commitment to creating long-term shareholder value.

The market’s response to the company’s results was equally positive. Transcorp Power’s share price jumped by 7.96 per cent following the announcement of its financial results, rising from N324.00 on January 20, 2025, to N349.80 on January 24, 2025. The significant increase in the company’s share price, accompanied by a surge in trading volume, reflects growing investor confidence in Transcorp Power’s outlook.

This surge in share price came as a result of the market’s strong confidence in the company’s capacity to maintain its growth trajectory. Investors appear to recognize Transcorp Power as not just a key player in Nigeria’s energy landscape, but as a company poised for further expansion and profitability. sTraTegic invesTMenTs Driving growTh

Beyond financial performance, Transcorp Power’s commitment to operational efficiencies and strategic investments has been integral to its success. The company’s ability to enhance its power generation capacity, modernise

infrastructure, and streamline operations has given it a competitive edge in the Nigerian market.

One notable aspect of this focus on operational excellence has been Transcorp Power’s efforts to reduce downtime at its power plants through regular maintenance and upgrades. This has not only contributed to increased power generation but has also allowed the company to maintain a more stable revenue stream despite potential fluctuations in the power sector.

Additionally, Transcorp Power has strategically invested in expanding its generation capacity to meet Nigeria’s evergrowing energy demands. The company’s significant contribution to over 20 per cent of Nigeria’s installed power capacity is a key pillar of its market strength. By positioning itself as a reliable power provider, Transcorp Power has solidified its place as a market leader and further reinforced its role in Nigeria’s economic transformation.

resolving nigeria’s energY crisis

Transcorp Power’s achievements are even more significant given Nigeria’s ongoing energy crisis.

The country’s power sector continues to grapple with persistent challenges such as low generation capacity, inadequate infrastructure, and unreliable electricity supply.

These factors have made it difficult for Nigeria to meet its growing energy demand, hindering economic growth and development.

However, Transcorp Power’s growth underscores its pivotal role in addressing Nigeria’s power shortages. The company’s focus on increasing capacity and ensuring operational efficiency places it at the forefront of Nigeria’s drive for energy security. By continuing to expand and modernize its power generation assets, Transcorp Power is not only contributing to the nation’s energy needs but also playing a crucial role in driving economic growth.

The company’s impressive financial performance

also highlights its ability to weather external shocks, including volatile energy prices, inflationary pressures, and fluctuating foreign exchange rates. This resilience is key in a sector that is often susceptible to unpredictable market forces.

looking aheaD

As Transcorp Power continues its growth trajectory, its leadership remains focused on long-term sustainability. The company’s commitment to enhancing its operational efficiency, investing in infrastructure, and diversifying its revenue streams will be crucial to its continued success.

With Nigeria’s energy market poised for further liberalization, Transcorp Power’s leadership position gives it the opportunity to shape the future of the sector. As the company continues to evolve, its focus on shareholder value, operational excellence, and sustainable growth will ensure it remains a dominant force in Nigeria’s power sector.

Disquiet Over NPF Insurance Licensing

The licensing of the NPF Insurance Company Limited by the National Insurance Commission is seen as two edged sword that will make or mar insurance sector, writes e bere Nwoji

The National Insurance Commission (NAICOM), November 28, 2024 granted an operational license to the NPF Insurance Company Limited as a general insurance underwriting company.

By this license, the NPF Insurance has secured approval from NAICOM the regulator to commence general insurance business underwriting having fulfilled all registration requirements according to NAICOM.

Since the approval of the NPF Insurance Company license, a lot of questions have been raised by both insurance sector stakeholders and analysts.

Their questions centered on whether it is proper for police as a government agency to venture into business when government at all levels are divesting their ownership of businesses to the private sector operators.

For instance, the federal government divested from NICON Insurance, Nigerian Reinsurance Corporation and Niger Insurance. Lagos State Government divested from LASACO Assurance, Edo State from Bendel Insurance while Akwa Ibom State divested from Anchor Insurance.

This being the case, insurance sector analysts argued that to have the Nigerian Police Force, a federal government agency, register an insurance underwriting firm leaves a big question.

They also argued that if at all there is any sector the police wants to invest in, it should not be insurance which laws it is meant to enforce but has not performed up to expectation over the years due to compromise with the law breakers.

Another question is whether the establishment of this police owned insurance company will be in the best interest of the insuring public who may place their business with the company and demand for claims when it arises.

There is also the question of whether there will be a fair playing ground between the NPF Insurance firm and other insurance firms underwriting critical policies like the Third Party Motor Insurance which enforcement falls within the police purview.

According to the analysts, these questions arose because the police has its men at check points controlling movement of motorists and their relevant documents like the compulsory Third Party Motor Insurance certificate. There is therefore this fear of the police using its position and authority to influence the policy buyers to buy from their firm thereby short changing other underwriters.

In the mist of these questions, there is also suspicion that NAICOM the regulator could not have ordinarily granted license to the NPF Insurance company without vested interest somewhere along the line.

There was also expectation that the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA), should have kicked against it knowing the danger it portends to the business of its members especially Third Party Motor insurance which is currently the insurance sector cash cow.

ThIrD ParTy MOTOr INsuraNce

In the view of analysts, this particular policy is the core area of interest of the police in establishing their own insurance underwriting firm. As such there is fear that with the latest development, loss of another class of business by insurers is imminent just as they lost pension to National Pension Commission and Workmen Compensation to the Nigeria Social Insurance Trust Fund (NSITF) .

In what looks like a confirmation of these fears and questions raised, the Inspector General of Police (IGP), Kayode Adeolu Egbetokun, recently announced the commencement of Third Party Motor insurance enforcement by the police from February 1, 2025.

To the insurers, this is a mixture of cheering news and fears of loss of the Third Party Motor Insurance business to the Police.

In the years past, both the NIA and NAICOM have made several moves to ensure collaboration between the police as law enforcement agent and the insurance sector especially on compulsory policies like the Third Party Motor insurance, compulsory builders insurance enforcement but this has not happened as the police kept on giving reasons for its inaction.

With the establishment of the police owned insurance underwriting firm and announcement of enforcement of Third Party Motor Insurance by February 1, by the IGP, analysts have raised

the question on why the sudden wake up to this responsibility which the insurers haven been yearning for over the years.

Industry observers fear that insurers may be heading towards losing another class of business to government agency like police.

resIsTINg eNcrOachMeNT by gOverNMeNT ageNcIes

THISDAY recalls that the industry’s struggle to protect its businesses from encroachment of government agencies dated way back in the years of late Remi Olowude, the former Chairman Nigeria Insurers Association (NIA) and founder Industrial and General Insurance (IGI). Olowude, who was the Executive Vce Chairman of IGI, and Chairman NIA in what stands as his last outing before his untimely death, at an interactive meeting between the Board of NAICOM and insurance industry operators, bared his mind on unpalatable treatment received by the industry operators from government as well as encroachment of government agencies into business of insurance by saying, According to him, “The encroachment on insurance business by government agencies, which try to provide insurance protection to the public is becoming unbearable to us the insurers. Some government agency now try to provide cover to aviation passengers and public liability for nuclear risks. The federal government in 2007 divested its interest in insurance business when it sold NICON and Nigeria Re, on the understanding that such concerns are better managed by the private sector. But ironically, the same government extracted workmen’s compensation insurance business and transferred it to NSITF as Employee Compensation Scheme.”

Continuing he said, “In similar vein, the federal government split pension business between insurance industry and PFA’s, assigning the chunk of the business to PenCom and PFAs; while it also moved health insurance from the insurance industry to NHIS. It is an open secret that the NCAA, under the Ministry of Aviation, is planning to establish insurance fund for aviation passengers’ liability. All over the world, aviation passengers’ liability is subject to international conventions and the risks are covered by conventional insurance policies; Nigeria cannot be an exception. Similarly, the Nuclear Agency wants to establish fund for nuclear damage insurance, instead of seeking

conventional insurance cover for the risks which are covered in international insurance market.”

Olowude made these observations in March 2014 and died the same month but 10 years after precisely in Novermber 2024, the Nigerian police was granted license to commence underwriting of Third Party Motor Insurance among other general businesses. abuse OF ThIrD ParTy MOTOr INsuraNce

Over the years insurers have suffered abuse of this particular policy which both the licensing agents and Federal Road Safety Corpse (FRSC) have been selling to the unsuspecting public, collecting premium without paying claims when the need arises. But former Commissioner for Insurance, Mr Mohammed Kari, had objected to the licensing of police to underwrite insurance. Kari based his objection on the premise that the core operations of the Nigeria Police Force are fundamentally at odds with commercial activities, stressing that the primary mandate of the police was to maintain law and order, not to engage in business ventures.

“The police is a regulator of sorts; they cannot enforce the law on compulsory insurance and be a provider of insurance. The temptation to force motorists to insure with their company will be irresistible,”Kari highlighted.

Citing instance of his point of argument he said, “When I was an operator and their insurer, the NPF, as a consumer, had detained a head of department and I, the CEO, when we refused to pay for a loss that was not insured on their policy. Can the CEO of an NPF insurance company refuse to pay any demand of his owners, whether insured or not? he asked. On their part, insurance operators said there was little or nothing they could do about it.

INsurers’ vIew

Commenting, a former Managing Director, Coronation Insurance, Mrs Adeyinka Adekoya, said since the NPF Insurance Company has been given the license, there was nothing any body could do. According to her, the police is actually the agency to enforce public compliance with compulsory insurance but as long as it would not mandate the insuring public to insure with its own company, nothing stops the firm from operating in the open market like other underwriters.

She advised the police to do the work of

enforcement of the policy which the industry has been yearning for over the years as public servant.

“They should do the work as if they are working for Nigeria,” she said . On the fear of rate cutting, she said NIA had last year addressed the problem by mandating that every insurance firm selling motor insurance passes through the Nigeria Insurance Industry Data base (NIID).

“Everybody would pass through the NIID platform. As such they can’t sell below N15, 000 . They have license, the arm of police underwriting may not be the arm on the road to enforce it so it is like a business centre for them,” she explained.

Also speaking, immediate past President, Chartered Insurance Institute of Nigeria (CIIN), and former Managing Director, AIICO Insurance, Mr Edwin Igbiti, said the NPF insurance company was a licensed insurance firm.

According to him, since the company has been given license, it has freedom to operate and underwrite any business it was licensed to underwrite.

He said Third Party Motor Insurance was insurance product and the NPF Insurance Company has right to underwrite it. He said being licensed and given the role assigned to it as law enforcement agent, the police would help to see that every motor on the road has genuine insurance cover.

“If they were not given license, one way or the other they will not be involved so let us try this and see, the outcome will justify,” he stated.

Looking at the mood of insurers, the NPF Insurance Company licensing looks like “necessary evil .“

This is so because not licensing the NPF underwriting firm will make the police remain as passive as it has been over the years in enforcing the compulsory insurances, especially Third Party Motor Insurance.

Licensing the firm will make the police see itself as stakeholder and therefore put up enforcement action as has been announced by the IGP, but may likely intimidate other insurers by compelling policy buyers to patronise its own firm for easy passage at check points.

With this development, the stage is set for the regulator, insuring public, operators and analysts to watch and see what the police will do with the license to establish its own insurance underwriting firm. By licensing police owned insurance firm, NAICOM on its part, has got a big job at hand in ensuring that the new firm play by the rule irrespective of its ownership structure.

FGTargets 25% Reduction in Port Operation Cost with National Single Window

Eromossele Abiodun

The federal government has announced plans to implement the National Single Window (NSW) in its bid to reduce the cost of doing business in Nigerian ports by at least 25 per cent. The Minister of Marine and Blue Economy, Adeboyega Oyetola, who stated this at a stakeholders’ forum on the establishment of the NSW in Lagos, said the implementation of the Single Window System can enhance efficiency, potentially reducing these costs by at least 25%.

“By streamlining operations, improving transparency, and minimizing delays, the system not only drives cost savings but also strengthens overall trade facilitation. The cumulative impact across all areas, including reduced costs, enhanced efficiency, and greater transparency, ultimately contributes to the overall ease of doing business,” he said.

Oyetola, however, stated that the federal government is prioritising multimodal connectivity to boost trade and reduce transportation cost.

According to him, the present administration is advancing multimodal connectivity by improving road, rail, and inland waterway links to and from the ports.

He said these improvements

are targeted at reducing transportation costs, enhancing logistics, and boosting trade.

Oyetola speaking at the stakeholders’ forum on the establishment of the National Single Window (NSW) in Lagos, said his Ministry in collaboration with the Lagos State Government, cleared the age-long Apapa – Tincan – Mile 2 traffic for landside operations and provided tugboats, mooring boats, pilot cutters, bollards, and fenders across all port locations for effective seaside operations.

“We maximized crane productivity and ensured a reduced transit time for vessels and trucks. These led to a reduction in both the vessel and truck turn-around times.

“The vessel turn-around-time went down from an average of 7 days to an average of 5 days, while truck turn-around-time went from an average of 10 days to a few hours. But we are not resting on our oars, as our ultimate goal is to make Nigeria the hub of maritime in West Africa,” he said.

Also speaking, the Managing Director, of Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, said the implementation of NSW interconnects all stakeholders involved in foreign trade and enables them to perform trade procedures on one platform, adding that it

provides a comprehensive online environment for all governmental and business users such as importers, exporters, commercial banks, carriers, Customs, ministries, and other government agencies to perform trade operations.

He said the Single Window operation is the global trade best practice for the electronic exchange of information relating to over 500 million TEU movements and billions of tonnes of cargo for sea, air, and land transport modes.

“This concrete move by His Excellency, President Bola Ahmed Tinubu to implement the NSW in Nigeria is pivotal to deepening the competitiveness of our Ports and position the good people of Nigeria to reap greater benefits from global trade.

“The purpose of the Port Community System (PCS) is primarily for Nigeria to comply with the dictates of the International Maritime Organization (IMO), Convention on Facilitation of International Maritime Traffic (FAL) whose main objectives are to prevent unnecessary delays in maritime traffic, to aid cooperation between governments, and to secure the highest practicable degree of uniformity in formalities and other procedures,” he noted.

Financial Experts Upbeat About Nigeria’s Economic Recovery, Forecasts 26% Inflation

Esther Oluku

Some financial experts have restated their fate in the Nigerian economy, saying Nigerian economy is certainly on the path of recovery.

Reaffirming his fate in the Nigerian economy, the Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, stated that based on the on-going fiscal, monetary and trade policy reforms, Nigeria is on the path of recovery.

Meanwhile, two PwC Partners. Messrs Olusegun Zaccheaus, and Kenneth Erikume, who shared Oyedele’a optimism about the Nigerian economy however, highlighted key factors expected to shape Nigeria’s industrial development in the medium term.

Oyedele, while fielding questions during a panel session at the ‘Executive Roundtable on Nigeria’s 2025 Budget and Economic Outlook’ put together by PwC in conjunction with BusinessDay Media, opined that the year 2025 will deliver greater economic dividends to all Nigerians.

While acknowledging the effects of Nigeria’s economic reforms on the population, he stated that the tougher days

Addosser Microfinance Bank proudly announces the opening of its 25th branch in Lagos, located in the heart of Ogba.

Since its establishment in 2008, the bank has steadily grown as a key player in supporting Micro, Small, and Medium-sized enterprises (MSMEs) and driving financial inclusion in Nigeria.

are over.

Attributing some of the factors leading to the skyrocketing of the nation’s baseline inflation to 34 per cent in December last year to Foreign Exchange instability and increase in prices of petroleum products upon removal of subsidy, he noted that these factors are not going to be present in 2025 and as such there will be no upward inflationary push.

He opined inflation will most likely rest on the basely effect of around 25 per cent seeing that from the fiscal side, the government was not minting and injecting new money into the economy. As such, the possibility of surplus money in circulation which can fuel inflation is muted.

He said, “My view is that you only stoke inflation on the fiscal side if you inject new money. If the money that government is spending is from taxes, revenue and from borrowing not from the CBN then the impact on inflation is muted. Because the government is committed to not printing new money to spend, I think the N50 trillion budget will not stoke inflation.”

Meanwhile, Partner and Lead for PwC Strategy and Practice in West Africa, Mr.

Speaking at the branch opening, Mr. Bayo Fabiyi, Managing Director of Addosser Microfinance Bank, shared: “Reaching this milestone is a testament to the trust our clients have placed in us and the dedication of our team. Our 25th branch is not just a building—it’s a symbol of our promise to empower lives and businesses. We remain committed

Olusegun Zaccheaus said Nigeria’s economy will achieve marginal GDP growth of 3.3 to 3.5 per cent in 2025, driven by sustained policy reforms. “We anticipate a marginal GDP growth of 3.3 to 3.5 per cent in 2025, underpinned by sustained policy reforms,” stated.

However, Zaccheaus noted that this growth might face challenges from persistent economic pressures. He added that inflation is expected to decline to around 26%, aided by tighter monetary policies and improvements in Nigeria’s foreign exchange market dynamics.

Zaccheaus identified opportunities for businesses to capitalize on export markets in Africa and globally, enhance targeted value chains, and adapt to industry consolidation. He also mentioned that Nigeria’s rebased GDP is expected to expand, reducing ratios such as debt-to-GDP and tax-to-GDP.

Meanwhile, PwC Partner, Kenneth Erikume, highlighted key factors expected to shape Nigeria’s industrial development in the medium term. These include policy reforms in agriculture, taxation, and special agro-industrial processing zones.

to driving innovation, expanding access to finance, and fostering economic development in the communities we serve.”

Addosser MFB currently disburses over N4 billion monthly to MSMEs and plans to increase this to N5 billion in 2025 by leveraging its growing branch network and the soon-to-be-launched SME digital bank.

Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

L-R: The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye Esq.; Minister of Marine and Blue Economy, Adegboyega Oyetola and the National Coordinator of the Nigeria AfCFTA Coordination Office, Olusegun Awolowo, at the National Single Window (NSW) Project Stakeholders’ Forum in Lagos

2024FY: Aradel Holdings Declares 361.1% Increase in Profit to N247.8bn

Kayode Tokede

Aradel Holdings Plc, yesterday on the Nigerian Exchange Limited (NGX) announced N247.8 billion profit after tax in its unaudited financial for period ended December 31, 2024, about 361.1per cent increase over N53.7 billion reported in December 2023.

The integrated indigenous energy company from its profit & loss figures also announced N321.6billion profit before

tax in 2024 unaudited results, representing an increase of 186.7 per cent from N112.2billion in 2023.

The growth in profits was driven by N581.2 billion revenue in 2024, a growth of 162.7 per cent from N221.1 billion declared in 2023.

The company in a statement explained that growth in revenue was driven by “244.6per cent increase in export crude oil revenue (64.31per cent of total revenue) to N373.7 billion in

2024 from N108.4 billion in 2023; 49.03per cent of total), attributed to increased production levels, significant impact of improved utilisation of the Trans Niger Pipeline (TNP) on which there has been reduced crude losses, and additional value from the Alternative Crude Evacuation (ACE) route with resultant higher crude oil lifting of 3.1 mbbls in 2024 (FY 2023: 2.1 mbbls).

It added that gas revenue with an increase of 174.7per cent to N28.0 billion in 2024 (4.8per cent

of total revenue), due to higher production volumes (FY 2023: N10.2 billion; 4.6per cent of total revenue).

“74.9per cent increase in refined products’ revenue (30.9per cent of total revenue) to N179.3 billion (FY 2023: N102.5 billion; 46.4per cent of total revenue) due to increased sales volumes of 240.5 mmltres, up by 14.47per cent (FY 2023: 210.1 mmltres),” contributed to the significant increase in revenue.

The Chief Executive Officer of Aradel Holdings, Mr. Adegbite

Falade in a statement said, “The Company sustained its strong operational and financial performance in 2024, building on the improvements achieved in 2023.

“We recorded increased topline and bottomline, driven by significantly higher hydrocarbon production, the successful re-entry of Well 2ST in the Omerelu Field, which resulted in the attainment of First Oil on 31st May 2024 and increased sales volumes from our refinery operations.

We successfully drilled Wells 14 and 15, marking the conclusion of our Phase 1, four-well turnkey drilling campaign with favourable results.

“We kicked off the second phase of the drilling campaign with Well 16, which is approaching completion. To support the anticipated production growth, we expanded the throughput capacity of our evacuation channels, positioning us to maintain strong output and efficiency levels throughout the year.

Reinforcing the Mandate to Build Wealth, Transform Lives through the Motion Summit

In a world grappling with economic uncertainty and rising inequality, initiatives aimed at empowering individuals and lifting communities out of poverty have never been more crucial. The Motion Summit, an annual capacity-building event held in Abuja, has positioned itself as a beacon of hope and transformation. Organised by Promiseland Estate, the summit goes beyond the ordinary, offering practical insights, inspiration, and strategies for wealth creation. Now in its fourth year, the 2025 edition brought together over a thousand participants under the theme “Building Capacity for Wealth Creation”, reinforcing its mission to empower people and drive sustainable change. Precious Ugwuzor writes

The bustling city of Abuja recently played host to the 4th edition of the Motion Summit, an annual event that has become synonymous with empowerment and capacity building.

This year’s theme, “Building Capacity for Wealth Creation”, set the stage for a gathering that drew over a thousand participants eager to learn, connect, and elevate their lives.

Organised by Promiseland Estate, the summit is the brainchild of Dr Lawrence Oloche Emmanuel, the MD/CEO of the real estate firm. For four consecutive years, the Motion Summit has provided a platform for young people, entrepreneurs, and aspiring leaders to acquire the tools needed to achieve their goals.

In his opening remarks, Dr Emmanuel underscored the divine origin of the initiative, describing it as a mandate to lift people out of poverty. “Four years ago, the idea of building people was birthed, and it is a divine mandate,” he said. “It is not enough for you to succeed; what is most important is the impact you make in the lives of others.”

He added, “That is why we came up with the Motion Summit by Promiseland, and for the past four years, we have been consistent, so it is worthy of applause.”

The CEO also took a moment to appreciate the efforts of his wife, Mrs Gift Oloche, and the staff of Promiseland Estate for their hard work in organising the event. “This is amazing. I want to specially appreciate the effort of my beautiful wife and all the staff of Promiseland for putting up this event. It is better than what we did last year.”

Key Sessions: Learning the Art of Wealth Creation

The summit began with a powerful ses-

sion by Dr David Bello, CEO of Lucas Jargo Group, who explored the topic of Social Capital Development. In his teaching, Dr Bello highlighted five key elements of social capital: trust, social networks, reciprocity, norms, and values. He explained that social capital plays a critical role in career and personal growth.

“Social capital is the ability to connect to people who are willing to help build your career and make you a better person,” he said. Dr Bello left the audience with a resonant message: “Your network determines your net worth.”

Next, Dr Best Green, CEO of Lend

Wings Consulting, delivered an insightful lecture on Financial Literacy. Drawing from the wisdom of renowned author Robert Kiyosaki, Dr Green reminded participants, “It’s not how much money you make, but how much you keep, how hard it works for you, and how many generations you keep it for.”

He urged attendees to adopt financial discipline as a key principle in their lives, emphasising that wealth creation is not about quick fixes but consistent and strategic efforts.

The final keynote of the day came from Dr Linus Okorie, CEO of GOTNI Leadership Centre, who shared his thoughts on the importance of strategy in wealth creation. “Strategy is the name of the game,” he said. “I have never seen anyone who accomplished greatness

who did not master the act of strategy. The act of strategy is stimulated by clear vision.”

Dr Okorie also encouraged participants to cultivate a reading habit, especially books that challenge and enhance their intellectual capacity. “Read highly intellectual books on capacity building,” he advised, adding that the knowledge gained from such resources is indispensable for success.

A Legacy of Impact

The Motion Summit is not merely a workshop; it is a movement aimed at creating lasting impact. Dr Emmanuel was clear that the event is not about marketing Promiseland Estate but about making a difference in people’s lives.

“This annual gathering is beyond an empowerment opportunity. It is about building the youths, entrepreneurs, future leaders, and anyone who wishes to have a paradigm shift in his or her chosen endeavours,” he explained.

Participants at the event echoed the sentiment, describing the summit as a life-changing experience. For many, the lessons learned and the networks built will serve as stepping stones toward their dreams of financial independence and leadership.

As the curtains closed on the 2025 edition, the resounding success of the Motion Summit reaffirmed its role as a beacon of hope and empowerment. Dr Emmanuel and his team have once again demonstrated that with vision, dedication, and faith, it is possible to uplift communities and create a ripple effect of positive change.

The next edition of the summit will undoubtedly build on this legacy, inspiring even more individuals to take charge of their destinies and embrace the journey toward wealth creation and purposeful living.

NAFRC Inaugurates Course 01/2025 to Empower Retiring Military Personnel for Civilian Life

Chiemelie Ezeobi

The Nigerian Armed Forces Resettlement Centre (NAFRC) in Oshodi, Lagos, has officially inaugurated the participants of Course 01/2025, a pivotal six-month programme aimed at equipping retiring military personnel with the skills they need to successfully transition into civilian life.

The ceremony, which held last week, marked the beginning of an intensive training designed to ensure that the retiring officers are prepared to lead fulfilling and financially stable lives after their service to the nation.

Addressing the 540 participants drawn from the Nigerian Army, Nigerian Navy and Nigerian Air Force, the NAFRC Commandant, Air Vice Marshal BR Mamman, congratulated the officers on their selection for the highly esteemed programme.

He described the Centre as a “citadel of hope and courage,” emphasising the Centre’s role in providing a platform for personnel to gain valuable vocational and entrepreneurial skills.

“The objective of this programme is to prepare you not just for civilian life but for meaningful, self-sustaining ventures,” AVM Mamman said in his speech.

He highlighted the wide range of subjects included in the training, such as entrepreneurship, financial management, information and communications technology (ICT), health and safety practices, and retirement planning.

The aim is to ensure that participants leave the Centre not only with the knowledge to manage their finances but also with the confidence and ability to create successful businesses or pursue other post-service

NAFRC Commandant, Air Vice Marshal BR Mamman fielding questions from defence reporters after the inauguration

opportunities.

Feedback from previous participants serves as a testament to the programme’s success, with many graduates having gone on to become thriving entrepreneurs and even employers of labour.

AVM Mamman urged the participants to make the most of this invaluable opportunity. “Punctuality, discipline, and active engagement throughout this course are key to your success. Take

full advantage of what is being offered,” he advised.

The Commandant assured participants that they would be guided by experienced instructors and that the course would be tailored to meet their individual needs.

Representatives from the Military Pensions Board will also be available to address concerns about retirement benefits, further ensuring that the transition from military to civilian life is as smooth as possible. However, the path to success in the

programme is not without its expectations. AVM Mamman made it clear that discipline is a cornerstone of the Centre’s ethos. He warned participants about the importance of adhering to the Armed Forces Act, with attendance being crucial for certification.

A minimum attendance of 90 per cent is required to obtain the Certificate of Course Completion. Acts of misconduct, absenteeism, or inappropriate behaviour on social media will be met with sanctions.

Brigadier General IO Olatunji, the Director of Training, also addressed the participants, reinforcing the Centre’s mission to ensure a successful reintegration into civilian life. He underscored the importance of the Centre’s world-class facilities and reiterated the need for high levels of commitment, discipline, and respect from the participants.

“Of the 604 personnel nominated for Course 01/2025, 540 are present today, 27 have yet to report, and 37 have been returned to their units due to medical unfitness,” Brigadier General Olatunji disclosed.

The course comes at a crucial time for the Nigerian Armed Forces, as it continues to prepare retiring personnel to enter civilian society with dignity and skill. The NAFRC’s unwavering commitment to providing the necessary tools for successful reintegration ensures that those who have served their country with distinction are well-equipped to thrive in their post-service careers.

As Course 01/2025 gets underway, the participants now have a unique opportunity to embrace this transformative experience, one that will shape their futures for years to come.

L-R: Dr. Best Green, CEO PromiseLand Estate; Amb. Lawrence Oloche MON, ED PromiseLand Estate; Amb ( Mrs) Gift Emmanuel; Dr. Linus Okorie; Apostle Michael Orokpo, PhD; and ⁠Dr. David Bello, at PromiseLand Estate Motion Summit 4.0 held on Saturday at Rockview Royale Hotel, Abuja

Alex Otti: Transforming Abia State through Unprecedented Infrastructural Development

Given the state of the roads in Abia in the past, Governor Alex Otti, upon assumption of office, amongst other things focused on road rehabilitation, reconstruction, and the construction of new road networks, which has redefined Abia’s socio-economic landscape, significantly improving the lives of residents and enhancing the state’s attractiveness for business and investment. Chiemelie Ezeobi writes that the road infrastructure, detailing projects that span across the three senatorial zones of the state, is a clear demonstration of the governor’s visionary approach to governance, underpinning his commitment to transform the state

Prioritising Road Maintenance and Rehabilitation

One of the key highlights of Governor Otti’s tenure has been his administration’s hands-on approach to road maintenance and rehabilitation, executed largely through direct labour units of the Ministry of Works.

Over 140 road projects have been completed across major cities such as Umuahia, Aba, and rural communities. The extensive scope of these projects is evidence of the administration’s commitment to ensuring that no area is left behind.

In Umuahia, the state capital, several road maintenance projects have improved connectivity within the city. Key achievements include the repair and maintenance of Aba Road, Umuahia, Otuka Road, and Ikot-Ekpene Road (Phase 1).

These roads, which were once plagued by potholes and drainage issues, now offer smoother rides and enhanced safety. Another notable project is the maintenance of Umuahia-Uzuakoli Road, where palliative work has been carried out to mitigate years of neglect. The reconstruction of internal roads in Ehimiri Housing Estate, including Sir Nwogu Street and Ibe Nwachukwu Street, stands out as a milestone in improving residential road networks.

Enhancing Road Networks in Aba: The Commercial Hub

Aba, known as the commercial nerve centre of Abia State, has witnessed significant improvements under Governor Otti’s administration. The maintenance and asphalt overlay of major roads such as Jubilee Road, Queen’s Street, Bata to Salad Market Junction, and Ehi Road have restored Aba’s lost glory as a bustling trade hub. Traders and commuters now experience reduced travel time and improved access to markets, boosting economic activities. In addition to maintenance, several roads have undergone full reconstruction. Roads such as Shalom Road, Cemetery

Market Road (Phase 1 and 2), and Emelogu Street, which were previously impassable, have been completed with streetlights, enhancing security and extending commercial hours for businesses. Furthermore, the reconstruction of Old A3 at Obehie in Ukwa West LGA, executed by ASOPADEC, underscores the administration’s commitment to delivering quality infrastructure in every part of the state.

Another special mention is the ongoing dualisation of Umuikaa Junction to Umuene, aimed at easing traffic congestion on a critical commercial route. Similarly, the rehabilitation of the Port Harcourt Road in Aba is a major milestone, as it addresses a long-standing challenge for residents and businesses in the area.

Connecting Rural Communities to Economic Centres

Governor Otti’s administration has recognised the importance of connecting rural communities to urban centres to promote inclusive development. Significant progress has been made in the rehabilitation of Leru-Ngodo Road in Umunneochi, executed in three phases. This road provides a critical link between rural areas and the rest of the state, facilitating the movement of goods and services.

In Arochukwu LGA, the maintenance of Amuvi-AmakohiaRoad and the emergency repair of Amuvi-Amakohia Road have enhanced access to the historic town of Arochukwu. Additionally, the rehabilitation of Owerrinta Bridge to Umuikaa Junction is an ongoing project that will serve as a vital route connecting rural communities to major highways.

Drainage and Flood Control Projects

The administration’s infrastruc-

tural development strategy goes beyond road repairs and includes comprehensive drainage and flood control works. The desilting of tunnels and drains along major roads such as Azikiwe Road, Jubilee Road, and Hospital Road in Aba has mitigated perennial flooding that disrupts businesses and endangers lives.

In Umuahia, notable drainage projects include the construction of drains and outfalls along Dozie Way/Lodu and Ehimiri Housing Estate, which have significantly improved water flow during heavy rains. Additionally, the installation of reinforced concrete slabs over open manholes and drains across Umuahia has enhanced safety for pedestrians and motorists alike.

Ongoing Projects

Governor Otti’s administration has shown no signs of slowing down, with numerous road and infrastructure projects currently ongoing. The reconstruction of IBB-Ahiaeke Road in Umuahia and the rehabilitation of Ndoki Road in Aba are two major projects set to further enhance road connectivity. The repair and maintenance of Old Goods Shed Road in Umuahia is also underway, offering a critical link for traders and transporters.

Other ongoing works include the reconstruction of Umuopara Ring Road, construction of Ogbonnammiri Drive and St. Michaels Government Layout Drive at Ehimiri Extension, and the rehabilitation of Tenant Road, Asa to Eziukwu in Aba. These projects underscore the administration’s resolve to complete what it started, ensuring that every community benefits from improved infrastructure.

Special Projects and Strategic Partnerships

Beyond local roads, Governor Otti’s administration has partnered with the Federal Government on critical projects of national importance. The Port Harcourt-Aba section of the Port Harcourt-Enugu Expressway is a key

example of how strategic collaboration can yield significant infrastructural benefits for the state. Additionally, plans are underway for the design and reconstruction of AbaOwerri Road, which, when completed, will serve as a vital link between Abia and neighbouring Imo State.

Fostering Economic Growth and Improving Quality of Life

The ripple effects of these infrastructural improvements are already being felt across the state. With better roads and reduced travel time, businesses are flourishing, and the cost of transportation has dropped significantly. In Aba, traders report increased patronage, as the improved road network has made it easier for customers to access markets. The enhanced infrastructure in Umuahia has also boosted tourism, with more visitors coming to the state capital to explore its rich history and cultural heritage.

Furthermore, the construction of streetlights along key roads such as Shalom Road, Cemetery Market Road, and Emelogu Street has improved nighttime visibility and security, allowing businesses to operate for longer hours.

Governor Alex Otti’s transformative leadership has set a new benchmark for governance in Abia State. Through a combination of vision, strategic planning, and commitment to excellence, his administration has embarked on an unprecedented infrastructural revolution that has touched every corner of the state. From urban centres to rural communities, the ongoing and completed road projects have not only enhanced mobility but also laid the foundation for sustained economic growth.

As Governor Otti continues to pursue his development agenda, the people of Abia State can look forward to a future where quality infrastructure is the norm rather than the exception. This enduring legacy of development is a testament to the governor’s resolve to deliver on his promise of a better Abia—a state truly on the path to transformation.

One of the many road networks in Abia

Governor Alex Otti

POLITY

Femi Pedro At 70: Between Fate and Diligence

By Tayo Ogunbiyi

According to Edward Morgan Forster, English novelist, and short story writer, “failure and success seem to have been allotted to men by their stars. But they retain the power of wriggling, of fighting with their star or against it, and in the whole universe the only really interesting movement is this wriggle”.

The concept of destiny or fate in Africa is a rather controversial one. In Africa, destiny, often used interchangeably with fate, connotes what happens or will happen to man in life that cannot be changed, irrespective of any human effort. An integral part of this conviction is the belief that not all men have the privilege of a great destiny. Some are destined for ordinary lives, while others are blessed with the fortune of a glorious life.

Hence, fate is regarded as the inexorable force that drives every creature toward its eventual end. Each individual has a predetermined fate. It is laid out for them at the time of their creation. Fate is, for the most part, inevitable.

You may be able to change some of the details, but unless there is divine intervention, no creature can escape the eventual force of fate upon their life. Destiny can be changed, because everyone has Free Will. Free Will is the power to make your own decisions, no matter what destiny has in store for you.

Every choice that is made can steer destiny. Destiny is difficult to avoid, though, because it often seems that those decisions yet to be made are part of that destiny. How amazing!

Belief in fate and destiny is not limited to Africans. The ancient Greeks equally acknowledged the role of fate as a reality outside the individual that shaped and determined human life.

In modern times, the concept of fate and destiny have developed the misty halo of romantic destiny, but for the ancient Greeks, fate represented a terrifying, unstoppable force. In some of his plays, literary icon, Williams Shakespeare, also created impressions that support the fatality of life.

In Macbeth, for example, we see a man who pursues his goal of the throne ruthlessly, with murderous ambition. When the witches’ prophecies, upon which he has based his hopes, turn out to be just as misleading as any oracle’s pronouncement at Delphi, the audience is more likely to blame Macbeth for his inordinate ambition than to bemoan his fate with him.

Though many would readily rubbish the very basis of the fate and destiny hypothesis, believe it or not, certain events that happen in life tend to

Many even exit the world in tragic and mysterious circumstances just at the brink of attaining their goals in life. On the other hand, many who idle away in life and are considered by many as unserious elements and or misfits often turn out to become inexplicable successes. In this wise, fate or destiny is believed to be the unseen hand that navigates the course of man’s life, either for good or for evil.

The process that produced Otunba Femi Pedro as the Deputy Governor of Lagos State on 4th January 2003 was a clear demonstration of the place of fate or destiny in determining the course of events in the life of a man and, indeed, the society.

Before he emerged as the occupant of the exalted office, neither he nor his most ardent followers could have romanticized the possibility. That Otunba Femi Pedro eventually became the deputy governor of Lagos State and ultimately became a major player

must not be idle. They must be men who have prepared themselves very well to leverage golden opportunities whenever fate comes knocking.

Otunba Pedro has always been a focused, visionary, and hardworking personality. His journey has been one with profound and enduring impact across various sectors. Each chapter of his life has been defined by an unwavering commitment to innovation, service, and progress, making him one of Nigeria’s most respected and influential figures.

A banker to the core, Pedro’s banking career began in 1982 with the Central Bank of Nigeria (CBN). In 1988, he transitioned to the private sector, joining First City Merchant Bank (now First City Monument Bank), where he served as Executive Assistant to the bank’s Chairman and CEO, the late Otunba Subomi Balogun. Pedro’s career took a significant leap in 1989

when he became a founding member and one of the seed investors of Guaranty Trust Bank (GTBank). He served as Chairman of the Institute’s Lagos Branch during that period, reflecting his leadership and influence within the banking industry.

After leaving GTB, Otunba Pedro began yet another groundbreaking journey as the Managing Director and CEO of Comet Merchant Bank. This bank later became First Atlantic Bank, which, after a subsequent acquisition, changed its name to FinBank and is now part of First City Monument Bank. Under his visionary leadership, First Atlantic Bank (FAB) became Nigeria’s first true fintech institution, revolutionizing the banking sector.

In 1999, Otunba Pedro introduced Nigeria’s first internet banking infrastructure and launched the “Flash Me Cash” mobile money platform, which helped solidify FAB’s position as a fintech pioneer. His partnership with Infosys to implement the Finacle banking solution further modernized the bank, ensuring its place at the forefront of the digital banking era. Introducing first@tlanticonline in 2000, Nigeria’s first Internet banking system, was another landmark achievement, providing customers unparalleled convenience and access to banking services.

A passionate author, in 2020, Otunba Pedro published Formula for Wealth, an award-winning book outlining essential wealth-creation principles through entrepreneurship, investment, and leadership. The book provides a practical guide for aspiring entrepreneurs and highlights overcoming financial barriers such as the poverty trap and money illusion. His insights have inspired many, especially those navigating challenging economic environments.

An ardent philanthropist, Otunba Pedro has awarded scholarships to countless underprivileged students and made significant contributions to charitable causes, including the Rotary Club, where he is a major donor. He also serves as a mentor to many young Nigerians, guiding them toward personal and professional success.

Throughout his distinguished career, Otunba Pedro has consistently exemplified the values of integrity, excellence, and service to both his community and the nation. As Oyunba Pedro reaches the milestone age of 70, his unwavering dedication to improving the lives of others has continued to leave an indelible mark, even as his legacy continues to inspire and uplift many.

As this quintessential and remarkable personality joins the septuagenarian club, we look forward to more outstanding contributions from him, especially toward the reengineering of the nation’s economy as being spearheaded by President Bola Tinubu and his team.

China Bans Imports of Goats, Sheep, Poultry from Nigeria, Ghana, Egypt, Others

Action meant to curb spread of livestock disease

and goat pox.

The General Administration of Customs announced the ban, following reports of disease outbreaks from the

World Health Organisation (WHO). The ban affects a wide range of livestock, including sheep, goats, poultry, and even-toed ungulates,

as well as both processed and unprocessed products. The restrictions apply to several countries in Africa, Asia, and Europe.

Some other countries impacted by the decision to restrict the livestock imports include: Somalia, Qatar, Congo (DRC), Tanzania, Egypt, East Timor, and Eritrea.

different Memorandum of Understanding (MoU) with foreign data protection authorities to enable Nigeria enforce her data protection laws in those countries. He explained that if one is not in Nigeria but happens to break the Nigerian data protection law, NDPC will be able to enforce the law in any country where the violation took place.

The National Commissioner of the

NDPC, Dr. Vincent Olatunji made the clarification on Tuesday in Abuja at the launch of the commission’s journal.

Olatunji said: “We have signed MoUs with some countries DPAs so that when you breach our data laws we can apply our laws against you in that country.

“We have signed MoUs with some data protection authorities (DPAs), like the Office of Data Protection of Canada. We also signed with the Dubai International Financial Center Authority.

“We signed the MoUs because of the scope of our law, that if you

collect and present the data of Nigeria, you are not fined in Nigeria. You are to be fined outside the country. You are within the scope of the law. Now, the question is how will you enforce the law in the following countries.

“And that is why we need to work with DPAs in other countries for our laws to be enforced in their countries. And also for knowledge exchange. We are also looking at that now.”

He noted that back home in the country they are still signing MoUs with regulators to ensure full compliance.

“ In addition to that, we are also

signing with regulators in Nigeria, for them to properly regulate their sectors, to deepen data privacy for their stakeholders to comply with the provisions of the law.

“Even the private sector, we are also working with them to ensure that all we are doing in the area of MoUs is to ensure that we enforce the law, bolster data privacy in Nigeria, and we increase level of compliance to the provisions of the law,” he said.

According to Olatunji, Nigeria has achieved a lot at the global level when it comes to data protection, and that it has not gone unnoticed.

In addition, China has suspended imports from Palestine, Pakistan, Afghanistan, Nepal, and Bangladesh due to outbreaks of sheep pox and goat pox in those countries. It also blocked the imports of even-toed ungulates and related products from Germany following an outbreak of foot-and-mouth disease in that country.

China, the world’s largest meat importer, has taken these actions in an effort to safeguard its domestic agricultural and food industries from potential disease threats, UK’s The Tribune Express reported.

Foot-and-mouth disease, in particular, can spread rapidly and cause significant damage to

livestock herds, posing risks to both animal health and public safety. The country’s authorities have stated that the bans are essential for protecting China’s food security and maintaining public confidence in its agricultural sector.

The actions, it said, are part of ongoing measures to ensure that China’s livestock industry remains free from diseases that could undermine both animal health and the wider economy. While the bans are not expected to significantly impact China’s food supply in the short term, they will likely disrupt global trade, particularly for countries that are major exporters of livestock products to China, the report added.

The country had previously imposed similar restrictions when disease outbreaks occurred in other regions, and the latest measures underline China’s commitment to maintaining strict biosecurity standards, it stressed.

Emmanuel Addeh in Abuja China has banned the import of livestock products from Nigeria, Ghana, Egypt and several other countries due to concerns over the spread of animal diseases, including foot-and-mouth disease, sheep pox,

Musa: Why Transit School Strategies Should be Integrated into National Education Framework to Tackle Out-of-school Crisis

Mukadas Musa is the founder of Transit School, which is dedicated to supporting out-of-school children in the North-Central. In this interview with Funmi Ogundare , the Hubert Humphrey fellow highlighted the efforts he made towards changing the lives of vulnerable children and why it is important for the programme to be formally adopted and its strategies integrated into the country’s national education framework to address the out-of-school children crisis

What inspired you to start Transit School, and what was your initial vision for the initiative?

The inspiration for the Transit School came from observing children in my community roaming the streets when they should have been in school. My community, located on the border between the Federal Capital Territory (FCT) and Niger State, is home to migrants and internally displaced families who fled conflicts in the North-West and parts of the North-East of Nigeria. This includes areas Dakwa, Tungan Kwasau, and Tungan Galadima. After the COVID-19 lockdown in 2021, I noticed an alarming number of children who had either never attended school or had dropped out due to financial constraints. The community had only one public primary school and one junior secondary school, which were inadequate to accommodate the growing number of children. Many of these children were engaged in street scavenging, carrying plastic bags to collect used iron, aluminium, or scrap plastic to earn money for their families. Others, particularly young girls, were seen hawking food or other items on the streets, exposing them to risks such as abuse, exploitation, and drug use. As an educator with years of classroom experience, I understood the dangers of these activities and the importance of education in breaking this cycle.

Driven by this realisation, I decided to support these children by starting the Transit School. Initially, we conducted classes under a tree in our community. My first vision was to ensure that every child in the community could go to school, regardless of their circumstances. To encourage participation, I even enrolled my first daughter in the Transit school alongside the first group of out-of-school children. My ultimate goal was to see our streets empty of roaming children during school hours and to create a future where every child in our community, no matter their background, has access to education.

You have had to dedicate 80 per cent of your salary to supporting vulnerable children. How did you manage this financially, and what sacrifices did it involve?

While basic education in Nigeria is officially free and compulsory, the reality is that families still face costs for school supplies and uniforms, which can be significant barriers. Managing the Transit School required funds not only for these essentials but also for employing volunteer teachers to help identify and enrol out-of-school children. To support this initiative, I devoted 80 per cent of my salary from my role as an education officer with the FCT Administration. To make this sustainable, I worked as a satellite technician on weekends, earning additional income to offset the amount I spent on the program. This extra work involved sacrifices in time and energy, but the joy of seeing young minds gain access to education made it all worthwhile. Spending my resources to change the lives of vulnerable children has always been

a source of pride and fulfillment for me. It has not only transformed the lives of the children but has also inspired hope in the community that every child deserves a chance to learn and succeed.

Could you explain how Nigeria’s polio eradication campaign inspires the approach used by Transit School?

Nigeria successfully eradicated polio in 2020, and I was privileged to serve as one of the volunteers in that campaign. The success of the polio eradication effort was largely due to culturally relevant strategies such as community engagement, house-to-house visits, and sensitisation programmes. I realised that these same methods could be applied to tackle the crisis of out-of-school children in Nigeria. Drawing from this experience, we engage community leaders and appoint them as chairpersons for our volunteer teams. Their leadership has been instrumental in searching for out-of-school children and addressing cultural behaviours that hinder parents from prioritising education, particularly for girls. By adopting these strategies from the polio eradication campaign, we’ve been able to build trust within the community, encourage parents to send their children to school and provide the necessary support to make education accessible.

What have been some of the most challenging moments you’ve faced in identifying and enrolling out-of-school children?

Running the Transit School as a mobile outreach programme presents numerous challenges. One of the most pressing is the lack of a permanent site. We currently operate under trees, and during the rainy season, classes are often disrupted, significantly af-

fecting our operations. Another challenge is the lengthy time some children spend in the Transit School while waiting for sponsors. We link these children to local sponsors who cover school fees, uniforms, and other expenses. However, finding the right sponsor can be a time-consuming process. Cultural barriers are also significant. Some parents, especially those with girls, are resistant to our support because they do not prioritise girls’ education. Convincing them to see the value of education takes time and persistent engagement. There’s also a lack of trust when working with some local organisations. Many believe that NGOs exist solely to make money rather than genuinely support out-of-school children. This scepticism creates hurdles in forming partnerships. Moreover, the Transit School has not yet received formal recognition from the government despite the significant impact we’ve made in complementing their efforts.

How do you engage with the local community to identify out-of-school children? Community engagement is at the core of our approach. The community leader plays a vital role, often taking the lead in our outreach efforts. They accompany us to ensure that families accept our offers and are willing to engage with us. We’ve also developed a demographic profile of our community, which includes accurate data on the number of school-age children who are out of school. This data allows us to focus our efforts and provide targeted interventions. By involving the community leader and maintaining open communication with parents, we’ve been able to build trust and make meaningful progress in identifying and enrolling out-of-school children.

Can you share some success stories of children who have transitioned from Transit School into formal education, if any?

Yes, we are proud to share several success stories of children who have transitioned from Transit School to formal education and achieved remarkable milestones. For instance, Nura Yusuf and Aisha Malami were recipients of the AI Foundation Scholarship and the APT security scholarship, which enabled them to continue their education. Many young girls who began their journey at Transit School are now in Senior Secondary School three (SS3) and are on track to graduate, demonstrating the program’s transformative impact. What makes these stories even more inspiring is how some of these students have returned to give back to the community. After experiencing the life-changing opportunities provided by Transit School, several have volunteered to assist in the school, helping to identify out-of-school children and supporting their integration into education. They have become role models, inspiring other children and families to value education. In addition, some students who transitioned from Transit School have joined their family businesses, using the basic education and skills they acquired to contribute meaningfully to their households’ livelihoods. These stories highlight how Transit School is not just an educational

intervention but a community-transforming initiative that builds a cycle of empowerment and positive change. We are also thrilled to share that Transit School has already achieved 95 per cent of school enrolment for out-of-school children in the Tungan Kwasau community. By the end of February, we anticipate achieving zero out-of-school children in this community, making it the first in Nigeria to accomplish such a milestone. This would be a significant moment not only for the Transit School program but also for the national education landscape.

How has the Humphrey Fellowship opportunity influenced your work with Transit School?

Being selected for the prestigious Humphrey Fellowship Programme in the United States was a transformative experience for me. I spent a year at one of the top universities in the U.S., where I engaged with the university community and interned with leading organizations. Through this internship, I learned about innovative education programmes, including after-school initiatives, which I brought back to my community. As a result, in addition to the Transit School, we established an after-school programme to address a critical gap in our community: the lack of a senior secondary school. Many children in our area drop out after completing junior secondary school because the nearest public senior secondary school is two to three kilometres away. For families unable to afford transportation, continuing education becomes an impossible challenge. To bridge this gap, the after-school programme (evening school) provides a local alternative, enabling senior students to continue their education. The Humphrey Fellowship enhanced my ability to implement these transformative initiatives and further strengthened my resolve to address the educational barriers in my community.

Going forward, what is your vision for the future of Transit School, and what impact could it have on education in Nigeria?

My vision is to see the Transit School programme formally adopted and its strategies integrated into Nigeria’s national education framework. This would ensure that the program’s innovative and culturally relevant methods for addressing the out-of-school children (OOSC) crisis are scaled up and institutionalised across the country. Additionally, I envision international development partners such as USAID, UNESCO, and UNICEF recognising the proven effectiveness of the Transit School model and incorporating its strategies into their ongoing and future educational programmes in Nigeria. Redirecting resources and efforts toward successful, community-driven interventions like Transit School can significantly enhance the impact of their initiatives in combating the OOSC crisis. Ultimately, my goal is to see a Nigeria where no child is out of school, with every child receiving equitable access to quality education. Achieving a zero OOSC figure is not just a dream but a necessity for Nigeria’s progress and sustainable development.

Greensprings School Celebrates 40 Years of Excellence

Greensprings School marked a major milestone in its history with a grand celebration of its 40th anniversary at the Fountain of Life Church recently.

The event brought together students, parents, alumni, staff, and well-wishers to give thanks for four decades of educational excellence and service.

The ceremony, which was held in a spirit of gratitude and reflection, was a heartfelt tribute to Greensprings School’s journey since its establishment in 1985. The day was filled with songs of praise, prayers,

and speeches that acknowledged the school’s growth and the impact it has had on generations of learners.

According to the Executive Director, Mrs. Lai Koiki, “we honour God for His unwavering faithfulness throughout these 40 years. God has demonstrated His faithfulness at every turn. The story of Greensprings School embodies God’s grace.”

The service featured a short exhortation by Pastor Toluwani Odukoya, an alumnus of the school,

who emphasized the calling of teachers taking an anchor scripture from John 15:8. Special musical performances by the school’s choir from the different campuses added to the day’s festivities, showcasing the diverse talents of Greensprings’ students.

Lagos State Governor, Babajide Sanwo-Olu was also represented by Bimbola SaluHundeyin, who commended the school for epitomizing more than academics; and representing character-building, innovation, and a commitment to shaping future leaders.

Greensprings School has been a trailblazer in education. It provides a nurturing environment where students can thrive academically, socially, and spiritually. The school remains committed to promoting lifelong learning in an open, caring atmosphere that motivates students to be confident and responsible global citizens. As the school looks to the future, the management pledged to continue to uphold the legacy of its founders while adapting to the ever-changing landscape of education.

Musa

ProPerty & environment

Pentagon Estate, Subscriber Disagree on Development Charge

Bennett Oghifo

A subscriber to one of the property of Pentagon Estate, Mr. Ademola Oluwaranti is distraught because he wasn’t allocated the two plots of land he paid for in 2007 until this month. Besides the long wait, he endured a bitter court process which favoured him. The court ordered Pentagon to give him his land.

However, Oluwaranti is still unhappy because Pentagon is asking him to pay N3.5 million

for each of the two plots of land he bought for N700,000 about 18 years ago.

He said, “They asked me to pay N7 million as development levy for both plots. My query is that I did not buy the land in 2024. As such, why should I pay this. I bought both plots in 2007 for N700,000.

“I bought the land in 2007. They did not give me the land and they did not say anything about development levy.

“In so far I know that in every estate, they pay develop-

ment levy when you move to site, but the case remains that they did not allocate my land to me in 2007. I bought the two plots at N350,000 each in 2007, which was a lot of money then.

“Now in 2024, they’re asking me to pay N3.5 million each for development levy for a land I bought at N350,000. It does not sound reasonable in any law. So, what I’m saying is this, while I’m open to paying development levy, which is a function of how much you paid

for the land. I didn’t buy the land in 2024. How much did those who bought land from him for N350,000 in 2007 and took possession, pay as development levy?

“If he is not going to refund my N2.6 million, which I paid to rezone, and which I should not have paid, according to the Chairman of Pentagon, so, can we cross that for development levy? And they write me a receipt and swap that and development levy is sorted.”

When contacted, the Chair-

man of Pentagon Estates, Mr. Okoruwa Kennedy said, “Usually, when your land is in a place that is not fully developed, you will pay for relocation and they will relocate you from where you are to where you can start building. I found out that they have paid for relocation and that is why they have been relocated.

“However, the estate requires infrastructure and they will pay that cost of infrastructure when they want to start development. It is not something they will

have to pay now.”

Pentagon told the subscriber, “Also please note that you made a payment for reallocation, as the currently allocated land is a reassigned plot.”

According to Pentagon, “The Development Levy is payable at the current rate of N3.5 million per plot, N500,000 initial payment and spread balance within 17 months.

“Payment Terms for 2 Plots: Initial Payment is N1,000,00 and balance payable in 17 monthly installments.”

Engineering Stakeholders to Discuss COREN’s Restructuring, Reforms, New Operational Framework

A Regional Engineering Stakeholders Summit on Restructuring, Reforms, and the New Operational Framework of the Council for the Regulation of Engineering in Nigeria (COREN) will be held in Lagos.

According to a statement by the President and Chairman of Council, COREN, Engr. Prof. Sadiq Zubair Abubakar, the Governor of Lagos State, Mr. Babajide Sanwo-Olu is expected to be the Special Guest

of Honour at this landmark event, which will take place on Tuesday, 18th February 2025, from 9:00 a.m.to 2:00 p.m.at Marriott Hotel, Ikeja, Lagos.

A major highlight of the event will be a keynote address by the Governor, who will deliver strategic insights on the role of engineering in sustainable infrastructure development and economic growth in Lagos State and Nigeria at large.The Governor’s presence will further underscore the government’s commitment to engineering

excellence, innovation, and professional integrity.

As the regulatory authority for engineering education, training and practice in Nigeria, Abubakar said, “COREN remains committed to strengthening professional standards, ensuring compliance, and fostering innovation in the sector. “The forthcoming Summit will bring together key stakeholders, policy makers, industry leaders, academia, and professionals to deliberate on COREN’s recent legislative and operational reforms,

which are designed to enhance efficiency,compliance, and governance in engineering practice nationwide.

“Additionally, COREN will inaugurate the Lagos Regional Steering Committee (LRSC) during the Summit.”

He said this committee will provide technical and administrative oversight to COREN’s Regional and State Offices, ensuring the effective implementation of key engineering regulatory activities, including:

• Engineering Regulations

Monitoring and Enforcement (ERM&E)

•Engineering

Intelligence,Surveillance,and Enforcement (EISE)Task Force

Engineering Investigations and Compliance Monitoring

The Summit will also introduce the expansion of COREN regulatory activities to cover at least eleven (11) engineering sectors:

1. Agro-Allied Engineering

2.Aviation & Aerospace Engineering

3.Oil and Gas Engineering

4.Construction & Building Engineering

5.Mining Engineering

6.Maritime Engineering

7.Power Engineering

8.Communication Engineering

9.Manufacturing Engineering

10.Transportation Engineering

11.Bio-Medical Engineering

This restructuring is aimed at improving industry governance, deepening specialization, and enhancing the overall regulatory framework within the engineering sector.

Pertinence Empowers Realtors with Skills to Succeed in 2025

Uche Nnaike

Reinforcing its commitment to empowering real estate players, Pertinence Group, an empowerment and enterprise development company, recently organised a retreat for its sales affiliates, tagged ‘Elevate 2025.

The event, which held at the Pertinence Place, Akowonjo, Lagos, brought together over 300 sales professionals for a dynamic and impactful

programme designed to equip them with the skills, strategies, and insights needed to thrive in the competitive industry.

The retreat began with a keynote session by Mr. Wisdom Ezekiel, co-founder of Pertinence Group, followed by insightful presentations from corporate trainer and founder of RCV, Mrs. Bosede Olusola-Obasa; co-founder of Eazipay, Dr. Emmanuel Efosa-Zuwa; and Dr. Sunday Olorunsheyi, co-founder of

Pertinence Group. They offered the attendees valuable knowledge and strategies for navigating the opportunities and challenges in the real estate and related sectors in the year ahead.

Ezekiel highlighted the massive opportunities available in Nigeria in 2025. He set the tone by emphasizing the interplay between strategy and culture in personal development and business growth, reiterating the importance of behavioural

changes in achieving planned goals.

He emphasized that while having a strategy is important, real growth requires behavioural changes that align with one’s goals; hence he urged attendees to align their actions with their strategic aspirations.

Olusola-Obasa challenged attendees to “own their game” in the new year. Her session focused on the importance of delivering exceptional customer service as a com-

petitive advantage in the real estate sector.

Olusola-Obasa, who introduced her CUTE framework - courtesies, understanding, trustworthiness, and experience - emphasised that strong customer relationships lead to better sales outcomes.

Dr. Efosa-Zuwa delivered a compelling lecture on leveraging technology to enhance sales and personal value. He encouraged realtors to integrate digital tools into

their workflows, from managing client relationships to setting reminders for key dates like customer birthdays and anniversaries.

“It’s not about the 2,000 contacts on your phone, but how you manage them. So, how well are you leveraging on, or taking good advantage of those contacts on your phone?” he asked, urging participants to be intentional about building meaningful connections with their clients.

Oguntala: Why FG Must Prioritise Professional Appointments in Key Leadership Roles

The President of Nigerian Society of Engineers (NSE), Mrs. Margaret Oguntala, who recently marked one year in office, explains to Funmi Ogundare how the Society’s collaboration with various organisations will go a long way in opening pathways for local manufacturing, job creation, and increased productivity, especially for country’s young people in sectors like agriculture, technology, and infrastructure. She also states why it is imperative for the federal government to consider appointment of qualified professionals for key leadership roles, especially in the management/boards of the River Basin Development Authorities, as well as other engineering positions in Ministries, Departments and Agencies

The Nigerian Society of Engineers (NSE), recently signed an MoU with Assetrise, Lancaster Farms, Techlytics and BHM. How does this collaboration align with NSE’s long-term vision for Nigeria’s engineering industry and the nation as a whole?

I would like to inform you that we came on board with a strategic agenda to address the pressing needs of the engineering industry and community in the country. The agenda is carried on five pillars which includes membership development, improving intergovernmental industry/academia collaborations, re-enforcing international relations mechanisms, re-imaging the NSE for enhanced publicity and governance structure and Improving community impact. It is part of the effort at achieving this overall objective that we recently signed the Memorandum of Understanding (MoUs) with Assetrise, Lancaster Farms, Techlytics, and the Black House Media (BHM). Partners like the

tech-centric Techlytics and Assetrise Limited provide platforms for upskilling engineers in data-driven decision-making, smart technologies, and sustainable practices. Therefore, with their assistance we will ensure that our engineers are well-equipped to tackle both present and future challenges. Lancaster Farms’ expertise in agriculture complements NSE’s vision for sustainable engineering solutions covering food production and rural development. We believe that the collaboration can lead to innovative approaches in smart farming, irrigation systems, and renewable energy solutions, all of which are essential for achieving the United Nations Sustainable Development Goals (SDGs). We plan to establish demonstration farms and engineering villages across the six geo-political zones, enabling our engineers to apply their expertise in mechanised farming, irrigation systems, and sustainable agricultural practices. These hubs will not only centralise cutting-edge equipment for optimal resource use but also

serve as innovation incubators where new agricultural technologies can be developed and tested.These collaborations we are talking about will go a long way to open pathways for local manufacturing, job creation, and increased productivity in sectors like agriculture, technology, and infrastructure. This aligns with NSE’s goal of leveraging engineering expertise to catalyse Nigeria’s economic diversification and reduce reliance on imports. This move also supports NSE’s commitment to community engineering initiatives by ensuring that projects have a direct and positive impact on Nigerians, particularly at the grassroots level. The Black House Media (BHM) on the other hand will amplify these efforts through strategic communication and advocacy, ensuring that the benefits reach all stakeholders. Again, these collaborations underpin NSE’s vision of being a leader in transforming Nigeria into a country driven by sustainable engineering solutions. By integrating expertise from these partners, NSE would strengthen its

capacity to address developmental challenges and position the engineering profession as a critical driver of national progress.

Bennett Oghifo

Oguntala

ACCESS BANK IS THISDAY GLOBAL BANK OF THE YEAR...

Ministry of Interior Generated over N6 Billion Revenue Last Year, Says Minister

FG deported 828 illegal immigrants in 2024, revamped border security 1,836,533 passports issued, 137 victims of trafficking intercepted

Michael Olugbode in Abuja

Minister of Interior, Hon. Olubunmi

Tunji-Ojo, has revealed that his ministry was able to contribute over N6 billion to the nation’s revenue during the 2024 fiscal year.

The minister made this disclosure during a media chat on the achievements of his ministry during last year.

In another development Hon. Olubunmi Tunji-Ojo also disclosed that

the federal government deported 828 illegal immigrants in 2024 as part of its intensified efforts to combat irregular migration and enhance national security.

Tunji-Ojo who specifically gave N6,034,457,000 as the total revenue made with expatriate quota alone accruing about N3,220,035,000, marriages contributed N2,409,282,000 billion; citizenship and places of worship had N392,790,000 billion and N12,350,000 million, respectively.

He noted the increase was over 150 per cent from the previous year.

He acknowledged the blockage and stoppage of revenue leakages through automation of processes was responsible for the lift, adding that now foreign applicants who applied for Nigerian citizenship are genuinely scrutinised before being granted their application.

He said: “The ministry inaugurated Presidential Enabling Business Environ-

ment Council (PEBEC) Champions/ Reform Team who have successfully worked with Ease of Doing Business Secretariat (EBES) to harmonise and update records on the National Action Plan (NAP 7.0) reform initiatives.

“These include: enforce service level agreement (SLA) for business permit application; enforce timeline for business permit application; enforce SLA timeline for expatriate quota (EQ) applications; enforce timeline for EQ

Dangiwa Woos Saudi Investors, Says Real Estate Added 5.2% to Nigeria's GDP in 2024

Estimates nation's housing deficit at 28 million units

Emmanuel Addeh in Abuja

The Minister of Housing and Urban Development, Ahmed Dangiwa, has disclosed that the real estate sector contributed around 5.2 per cent to the nation's Gross Domestic Product (GDP) in 2024, but said that there was still around 28 million housing deficit despite the noticeable growth.

Dangiwa spoke at a panel discussion at the Saudi Arabia Real Estate Forum, according to a statement yesterday by his Special

Assistant on Media and Strategy, Mark Chieshe.

He called on global investors in Saudi Arabia to take advantage of the huge opportunities in Nigeria's housing sector, specifically the Renewed Hope Cities and Estates Programme of the federal government.

Dangiwa disclosed that Nigeria's huge housing deficit offers enormous business opportunities, and the country’s housing programme serves as a low-hanging fruit for investors in the Middle Eastern

nation to take advantage of and get good returns. The forum themed: "Balance and Innovation in the Real Estate Landscape," was held at the Four Points Hotel in Riyadh and featured Abdullah Al-Attiya, Minister of Municipality, Qatar and Dr. Abdulla Muththalib, Minister of Construction, Housing, and Infrastructure, Republic of Maldives.

"Nigeria's real estate sector contributed around 5.2 per cent to the nation's GDP in 2024… Despite this, there is still tremendous opportunity for investment, especially in the residential real estate segment. Nigerians need homes now more

than ever and you can partner with the Nigerian government to deliver these houses at scale," he said.

Dangiwa noted that Nigeria faces an estimated housing deficit of 28 million units, a situation exacerbated by rapid urbanisation and migration.

"The government is tackling this by prioritising large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions. Additionally, efforts are underway to engage state governments in unlocking land for affordable housing projects, as difficulties in land acquisition continue to hinder progress," he added.

applications.”

He added that the ministry has commenced full operations in the newly-established Federal Marriage Registries in the following states: Jalingo, Taraba State; Akure, Ondo State; Ibadan, Oyo State; Makurdi, Benue State; Asaba, Delta State and Uyo, Akwa Ibom State.

The minister said the ministry is currently implementing the Performance Management System (PMS) which is one of the six pillars of the Federal Civil Service Strategy and Implementation Plan (FCSSIP2021-2025) - a strategy that drives the first medium term plan, 2021-2025 of the Nigeria Agenda 2050 holistic reforms of the civil service.

"The PMS is a framework used to evaluate, manage and improve the employee performance in alignment with the national service and mandate while innovating means and measures to achieving ministry’s mandate also" he explained.

The agencies under the Ministry of Interior include, Nigeria Security and Civil Defence Corps (NSCDC), Nigeria Fire Service (NFS), Nigeria Immigration Service and National Identification Management Commission (NIMC) - were involved in restructuring with about 8,283 men and officers recruited into the NIS and the NSCDC in 2023, while 2,500 officers were recruited into the FFS in 2024.

The minister said: “A key part of the ministry that has to do with the public is the department we call C and B. That is, Citizenship and Business. One of the first things we realised about the department is that

the revenue generated wasn’t up to what is expected. So, the first thing we have to do is to create a process of optimising and automating it.”

The minister revealed that the Nigeria Immigration Service (NIS) has issued 1,836,533 passports and repatriated 828 foreigners between January and December 2024.

Tunji-Ojo hinted that those other achievements recorded in the same period included the clearance of a backlog of over 200,000 passport application within three weeks in year 2024

"Then, of course, combating irregular migration is a major issue. In the last one year, 137 victims of trafficking were intercepted in 2024 and 42 objects of struggling, of migrants were also intercepted.

"828 foreigners were repatriated in 2024 by the Nigerian Immigration Service.

"Of course, when we came on board, we met a backlog of over 200,000 passports, you know, and in record time, in less than three weeks, we were able to clear that.

"In 2024, the Nigeria Immigration Service also issued 1,836,533,"he disclosed.

In the realm of border security, the minister announced the completion of the first phase of the e-border solution, covering 40 per cent of the nation's borders.

Tunji-Ojo said that secured borders ensure a safe nation adding that newly acquired vehicles and e-gates have been deployed to improve border management.

The National Agency for Food Drug Administration and Control (NAFDAC) said it has sealed the Cemetery Market Aba, in Abia State, alleged to be the most dreaded and largest cartel ring for the manufacture of fake wines and beverages in Africa.

The agency said the move was a decisive one aimed at curbing the circulation of fake and substandard wine and beverages in Nigeria.

A statement signed by the Director General of NAFDAC, Prof. Mojisola Christianah Adeyeye, said the estimated value of products mopped up during the December 15, 2024, operation was N5 billion.

She said that NAFDAC had earlier confiscated and destroyed fake products at the market in 2023 estimated at over N750 million.

Adeyeye said: "The current action of NAFDAC is the most audacious since the history of the market with

specific zones barricaded with iron welding and access gates locked till date.

"The operation carried out in conjunction with a large contingency of the military, DSS and Nigeria Police, in a rare display of inter-agency cooperation, was a follow up to a similar raid that was carried out in December 2023".

The DG said that some of the nefarious activities of the counterfeiters included the manufacturing of all kinds of adulterated products especially different kinds of wine from a wide variety of brands ranging from the following: Seaman Schnapps, Henessy, Four Cousins Carlo Rossi, Jenney, Chelsea London Dry Gin Schnapp Dry Gin, McDowells, Black Labels, Gordons, Martell, Campari, Smirnoff ice, Eva Non-Alcoholic Drink, Evra Non-Alcoholic Drink, Cartel and others.

Encourages millions of Nigerians across the world to return, invest

Segun Awofadeji in Bauchi

Nigerians in Diaspora Commission (NIDCOM) has organised a sensitization and advocacy program for promoting Diaspora investment potentials in North East.

NIDCOM stated that there are millions of Nigerians across the world who are doing excellently well in their various fields of endeavors and needed to be encouraged to come back home to invest.

This was as the Bauchi State Governor, Senator Bala Abdukadir Mohammed directed the Diaspora Focal Point Officer (DFPO) of the state

to ensure that a strong partnership was established with the Nigerians in Diaspora Commission (NIDCOM) with a view to leveraging their willingness to support states to tap from the huge Diaspora investment potentials which have remained yet untapped.

Chairperson/CEO of NIDCOM), Abike Dabiri-Erewa who stated this yesterday at the opening of the occasion of Sensitization and Advocacy Workshop on the promotion of Diaspora Investment Potentials in North - East subregion of Nigeria said: "You cannot talk about people in the diaspora without reminding them

that they did not just find themselves in the diaspora by accident".

According to her, "They have a root, they have a country of origin, and they are there as a country of destination. You will never be a first-class citizen in your country of destination even if you stay there for a hundred years".

Represented by Engr. Dr. Sule Yakubu Bassi, Secretary to the Commission, Abike Dabiri-Erewa stated: "It is here that they are first-class citizens. So, we have to tell them this message, that home is home. And to develop Nigeria, we need both those at home and those in the diaspora," she stressed.

Abike Dabiri-Erewa further stated: "Those in the diaspora have five things that we need to catalyze our development in Nigeria. First, they have resources. Don't kid yourself, one US Dollar is equivalent to N1,700 and by the time you have $500, if you come back here, you are already earning a million. So, we need their resources."

She assured that, "They have talent, they have skills, they have global exposure, and they also have global networks. We need to assimilate these two, those at home, those in the diaspora, in order to catalyze our development."

R-L: Roosevelt Ogbonna, Group Managing Director, Access Bank PLC; Tochi Wigwe, Daughter of late Herbert Wigwe, former Group CEO, Access Holdings; Maame Saarah Buckman; Aigboje AigImoukhuede, Chairman, Access Holdings PLC; Aigbovbioise Aig-Imoukhuede, Managing Director, Coronation Asset Management Limited; and Funke Aigbovbioise Aig-Imoukhuede, at the THISDAY Awards 2025 where Access Bank won Global Bank of the Year award and Aig-Imoukhuede was named Titan of the Year, in Lagos... Monday night

BOI CLINCHES TRANSACTION OF THE YEAR AWARD...

Strategic Communications, Seun Olagunju and Divisional Head, Public Relations, Bank of

the THISDAY Awards ceremony of 30 years of robust journalism in Lagos on Monday

MD/CEO

Komolafe: Trump's 'Drill Baby Drill' Will Unlock External Funding for Nigeria's

Oil, Gas Devt

Restates plans to pursue production growth, conduct new licencing round in 2025

To surpass N15trn revenue target for this year NUPRC CEO, others win big at THISDAY Award

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe has posited that the 'Drill Baby Drill' policy of the United States' President Donald Trump would help to free a substantial amount of external funding to help Nigeria develop its huge oil and gas reserves left in the ground.

The policy has elicited a horde of excitement amongst oil-rich nations like Nigeria that support increased oil and gas exploration and production as against promoters of renewable energy who are calling for the defunding of fossil fuels operations over emission concerns.

Komolafe, who spoke to journalists in Lagos, on the sidelines of the 30th THISDAY anniversary award held Monday, where he received the newspaper's CEO of the Year award for the Public Sector, for 2024, expressed excitement with the US leader's agenda which he said was favourable to Nigeria. With the policy, he said the challenge of funding for the development of hydrocarbon resources would relax, pointing out that one of the major challenges facing optimisation of hydrocarbon reserve was the lack of funding driven by the growing momentum and investment in renewables.

"At NUPRC as a regulator, it is our opinion that the Baby drill programme of President Trump would have a positive effect and outlook for us as a nation with a large hydrocarbon reserve. What that will mean is that the challenge of funding for the development of hydrocarbon will relax.

"If you remember, one of the major challenges facing optimisation of hydrocarbon reserve is funding because with the momentum in renewables and investment in renewables that was already having negative impact on funding of hydrocarbon.

"But given that position of President Trump, that means that funding for fossil fuel will be increased and that will have favorable impact on development of hydrocarbon in Nigeria", Komolafe stated.

He, however, restated NUPRC's plans to aggressively ramp up oil and gas production and conduct a new licensing round in 2025, saying those were embedded in the four-point Regulatory Action Plan rolled out by the commission in January 2024.

Based on the implementation of that action plan, he noted that positive turnaround was being witnessed in the area of gradual production growth.

According to him, "We've recorded some level of growth at the moment, moving from about 1.4 million barrels per day to about 1.75 bpd as we speak."

Aside that, he said under the

regulatory action plan, the commission equally promised to conclude the licencing started in 2023 as well as that of 2024, adding that by December, the agency succeeded in completing the licensing rounds.

Komolafe equally said the commission was defining strategic approach to achieve and surpass the N15 trillion revenue target given to it for 2025, adding that it surpassed its 2024 revenue generation target by

about 163 percent.

The NUPRC boss stated, "For 2025, we have key objectives as we listed in our four-point agenda for the year 2025. So, first among it is for us to continue on the path of sustainable growth in our oil and gas production. And we all know the importance of that ramping up in the federation's revenue.

"Last year 2024, you remember that the Commission achieved and

surpassed its revenue generation by about 163 percent. This year, our target has been increased to about N15 trillion.

"That is for 2025, so the Commission recognising that target have equally devised a strategy. Of course, the N15 trillion revenue target is so large, but then we are not daunted, we are not intimidated. So rather, we are defining strategic approach to achieve that target."

Nevertheless, he said the Project 1 Million Barrels launched by the commission in October last year was one of the major programmes to be pursued by his organisation for 2025. He explained that the idea behind the programme was to create a onestop-shop by which players within the ecosystem in the upstream could add value by pulling the strength of all players along the value chain to increase oil production.

IYC Hails Tinubu for Signing Bill Establishing Maritime Varsity

Olusegun Samuel in Yenagoa

The Ijaw Youth Council (IYC) has commended President Bola Tinubu for signing the bill establishing the Nigeria Maritime University (NMU) Okerenkoko, Gbaramatu kingdom, Delta State, into law.

The umbrella body of Ijaw youths worldwide said the entire Ijaw nation was overjoyed by the signing of the bill, adding that the action by the president represented a significant milestone for the Ijaw nation, the Niger Delta and Nigeria as a whole.

Commercial Activities Kick Off at Funtua Inland Dry Port

Sardauna in

A new vista of commercial opportunities and activities have commenced at the Funtua Inland Dry Port located in Funtua Local Government Area of Katsina State.

This followed the arrival of the first cargo to the Port on Monday nine months after its inauguration by President Bola Ahmed Tinubu.

Tinubu, who was represented by the Secretary to the Government of the Federation, Sen. George Akume, inaugurated the Funtua Inland Dry Port on May 9, 2024.

Receiving the port's maiden cargo, the Executive Secretary of the

Nigerian Shippers Council, Dr. Pius Akutah, expressed excitement for the commencement of commercial activities at the port.

Akutah, represented by the North-west Director of the Council, Kareematu Usman, said the port would unlock Nigeria’s economic potential and facilitate trade with landlocked countries like Niger and Chad Republic.

He said: “The development of Inland Dry Ports across the country is an initiative of the Nigerian Shippers Council. The Council is just like a mother that got pregnant and gave birth to the inland dry ports and today is a happy day

for us.”

He admonished youths within and outside the host state to venture into business, adding that the port has brought shipping and port services closer to the importers and exporters at the hinterland.

While noting that the port will create job opportunities, improve and accrue huge revenue to the government, Akutah said the North-west region now has three Inland Dry Ports.

Earlier, the Managing Director of the Funtua Inland Dry Port, Ahmed Ibrahim-Dodo, wooed importers and exporters to patronise the port for their business activities.

A statement by the IYC spokesman Binebai, reiterated that the signing demonstrates Tinubu's commitment to equitable development across all regions of the country.

IYC said the Ijaw people were particularly ecstatic as the university was poised to become an intellectual asset and authority in both the Nigerian and global maritime industry.

"For years, the Ijaw people, especially the hospitable residents of Gbaramatu Kingdom, have eagerly awaited this day. The establishment

of the NMU is a realisation of a long-held dream, marking a new dawn for the Ijaw nation.

"While commending President Tinubu, we urge him to prioritise the infrastructural development of the institution. The extensive land donated for the school at Okerenkoko, the permanent site, remains largely underdeveloped.

"The IYC also requests President Tinubu to expedite the approval of the floating dock in Gbaramatu. This will facilitate practical learning opportunities for students, complementing the theoretical knowledge

Oluremi Tinubu

Nigeria’s First Lady, Senator Oluremi Tinubu, yesterday, commissioned the ultra-modern Intensive Care Unit (ICU) and Dr. Amuda Aluko VIP Ward at the Kwara State University Teaching Hospital (KWASUTH), Ilorin, the Kwara State capital.

At the commissioning were Governor AbdulRahman AbdulRazaq, his wife, Ambassador Olufolake Abdulrazaq, Imo State governor, Senator Hope Uzodimma, members of the State Executive Council as well as some dignitaries from other states.

Speaking with newsmen after the

commissioning in Ilorin yesterday, the State Commissioner of Health, Dr. Amina Ahmed El-Imam, said: "The ultramodern ward is for everybody to access to without having to break their account.

“The facility will take care of both men and women, young and aged alike”.

She further said: “Furniture is brand new and everything is comfortable, all of these to reduce hospital acquired infection and reduce recuperation time of the patients that will use the Amuda Aliko wards.

"There are 19 rooms in all. Some are double rooms and single. The

provided at the institution. The floating dock and the school must work in synergy for the benefit of both Nigerian students and the maritime industry.

"We extend our gratitude to the House of Representatives and the Senate for their legislative contributions. We are particularly thankful to the Ijaw federal lawmakers who played a pivotal role in the establishment of the NMU. The Ijaw nation is immensely proud of your efforts, and history will recognise your contribution," the statement added.

single rooms are very spacious and can accommodate the patient and medical health workers comfortably.

"While the double rooms are like a room and a parlour. They meet all kinds of targets and needs with the facility provided in here".

Speaking on the affordability, the commissioner said: “It is not free but you can be rest assured that it is affordable as the government of Kwara State always carries along the least privileged ones in mind. "At the same time, there is need to carry out a higher level of care than is obtained at our primary health care or our conventional secondary health centre.

Francis

Katsina

Hammed Shittu in Ilorin

L-R: Group Head, External Relations, BOI, Ms Tosin Mfon; Group Head, Executive Communications and Customer Cafe group, Hadiza Oyewumi;

Bank of Industry, Dr Olasupo Olusi; Group Head

Industry, Theodora Ameachi, (BOI team) displaying the Transaction of the year award won by the bank during

PHOTO: ABIODUN AJALA

Peter Uzoho

CHANGE OF BATON AT LOGISTICS COMMAND, OGHARA...

L-R: Outgoing Flag Officer Commanding (FOC) Rear Admiral Chijioke Onyemaobi handing over the Flag of Logistics Command, Oghara to New Flag Officer Commanding (FOC), Rear Admiral

Otitoloju Fadeyi ... yesterday.

Don't Bring Sharia to Ogun, Abiodun Warns

Ekiti protests inauguration of Islamic law

The Ogun State Government, has warned against any attempt to establish a Sharia Court in the state.

At the same time, controversies have continued to trail the inauguration of the Independent Shari’ah Arbitration Panel inaugurated in Ado, the Ekiti State capital, last week.

The Ogun State Government, in a statement personally signed by Governor Dapo Abiodun, noted that Sharia Courts could not be legally constituted by individuals or groups without legal backing.

The government was reacting to a notice announcing the launch of a Sharia Court in the state.

According to the statement, Ogun State only recognised courts established through the legal framework of the Nigerian Constitution, adding that a Sharia Court did not form part of the legal framework operating in the state.

"The Ogun State Government has noted the circulation of a digital notice announcing the launch of a Shari'ah Court in Ogun State.

"No Sharia Court is authorised to operate within Ogun State. The courts that are legally empowered to adjudicate disputes arising within Ogun State are those established by the Constitution of the Federal Republic of Nigeria or by State Laws, which are: Magistrates' Courts, High Court, Customary Courts, Customary Court of Appeal, Federal High Court, National Industrial Court, Court of Appeal, and Supreme Court.

has established a Sharia Court, and Sharia law does not form part of the legal framework by which the Ogun State Government administers and governs society.

"No law operating in Ogun State

Group Warns Delay in Release of Funding to INEC May Hinder Anambra Guber, Other By-elections

The Peering Advocacy and Advancement Center in Africa (PAACA) has warned that delay in the release of budgetary provisions to the Independent National Electoral Commission (INEC) for the 2025 fiscal year may hinder the conduct of the Anambra governorship election, the Federal Capital Territory (FCT) area council elections, as well as National Assembly and State Assembly elections.

PAACA’s Executive Director, Ezenwa Nwagwu, gave the warning in a statement yesterday, just as he threw his weight behind the proposed N126 billion budget by the electoral body.

The warning by PAACA came same day INEC said its partnership with the European Union and other stakeholders has helped to consolidate the electoral and democratic process in Nigeria.

INEC’s Chairman, Prof. Mahmood Yakubu, disclosed this yesterday, in Abuja, during the maiden visit by the new European Union ambassador to Nigeria and ECOWAS, Gautier Mignot.

Speaking further, Nwagwu said: “Delays in fund disbursement undermine election preparedness, leading to rushed processes, operational and logistics bottlenecks.

“Early release of funds will empower INEC to carry out voter registration, rehabilitate its facilities, and ensure adequate preparation for upcoming off-cycle elections. We don't have to wait to blame INEC, if we fail to prepare early, the consequences are always there waiting.”

He added that the proposed N126 billion budget reflects the reality of electoral management in Nigeria, including funding for off-cycle elections, voter registration, and the replacement of damaged materials.

The group estimated that the electoral body needs substantial

resources to conduct 12 off-cycle elections, including the Anambra governorship and FCT area council election this 2025.

Nwagwu added: "The challenge is when people look at the budget, what they see is the figure. However, what they fail to see is that the budget has four components - personnel cost, overhead, electoral expenditure, and capital projects.

"INEC currently has 14,786 career staff scattered in all INEC offices in the 774 local government areas across the country. The Commission also has 51 political appointees which include National Commissioners and Resident Electoral Commissioners (REC).

“Now, if we take into consideration the recent minimum wage increment announced by the Federal government and its consequential adjustment in line with the NSIWC Circular, you can imagine how much of the budget will go into payment of salaries.”

Nwagwu stressed that the personnel cost has already taken N85 billion of the budget.

He added: "Also, many Nigerians have misunderstood that 2025 is not an election year. Contrary to that, INEC has 12 off-cycle elections, the Anambra governorship, and FCT area council election this 2025. These require significant financial resources for preparation and execution.

"Besides, INEC is responsible for more than just elections every four years. From voter registration and maintenance of polling units to constituency delimitation and political party regulation, the Commission’s activities are ongoing.”

Nwagwu explained that the current inflation in the country has affected the cost of running and managing elections

He, however, urged the federal government to prioritise the early release of funds to enable INEC plan and execute electoral activities seamlessly, especially with the Anambra governorship elections.

Meanwhile, INEC has said that its partnership with the European Union and other stakeholders has helped to consolidate the electoral and democratic process in Nigeria.

Yakubu disclosed this during the maiden visit by the new EU ambassador to Nigeria and ECOWAS, Gautier Mignot.

He said: “For several years, particularly since the restoration of democracy in Nigeria in 1999, EU’s partnership with the Commission and other stakeholders has helped to consolidate the electoral and democratic process in Nigeria.

“I would like to seize this opportunity to clarify a matter over which there is some misunderstanding in certain quarters.

“For the record, the Commission does not receive direct funding and we do not have an account into which donor funds are warehoused.

“The EU and other development partners provide indirect support in areas such as the publication of reports, retreats, engagement with stakeholders, as well as consultancy and technical support services in various areas, through the implementing partners selected and appointed by them.”

"The Ogun State Government upholds and protects the rights of individuals to practice the religion of their choice, or to subscribe to no religion, and recognises the freedom of individuals to apply their faith in their personal and private matters.

"However, this freedom does not extend to the formation of unauthorised assemblies or institutions. No individual or group is legally permitted to constitute a court or present themselves to the public as a court without legal backing. Those behind that notice have no legal backing. They cannot set up a court or administer justice by fiat or public notice.

"The Ogun State Government hereby directs that all persons involved in the creation or operation of this unauthorised court must immediately cease all related activities and disband the illegal entity and all its apparatus.

"The Ogun State Government also advises members of the public to disregard any summons, documents, or persons associated with the illegal Sharia Court. Such occurrences should be promptly reported to the State.

"The Ogun State Government will uphold the rule of law, ensure

Ondo PDP Expresses Dismay

N11.5bn

Fidelis David in

Akure

The People’s Democratic Party (PDP), Ondo State Chapter, on Monday, expressed dismay over the alleged allocation of N11.5 billion security vote to the State’s Ministry of Finance in the 2025 budget.

The PDP, through the State Publicity Secretary, Kennedy Peretei, described the fiscal document as ‘budget of looting’, urging the Economic and Financial Crimes Commission (EFCC) to be thorough while investigating the alleged inflated overhead costs in the budget.

According to PDP, "The Ondo State 2025 Appropriation Act, signed by Governor Lucky Aiyedatiwa can be appropriately described as a "Budget of Looting". Surprisingly the Governor called it a "Budget of Recovery".

"Of the N698 billion earmarked for spending in the year 2025, a whopping N11.5bn was allocated

to Ministry of Finance as "Security Vote". Not even budget experts could explain the meaning of security vote in a ministry, different from the one the governor receives monthly under the same sub-head."

The State Publicity Secretary of PDP further alleged that there are other outrageous allocations such as N200m to House of Assembly Members and N280m to Speaker of the Ondo State Assembly, respectively as phone expenses.

The party said: "The Peoples Democratic Party, (PDP), Ondo State Chapter is not in any doubt that, these dubious allocations are certainly not in the interest of the State as they are brazen, "the devil never cares" moves to empty the State Treasury. There is nowhere in the world where the people's monies are so stolen with official stamp in this reckless manner.

"Critical sectors like Education and Health Care received only N77.024bn

and N46.016bn respectively. Is there any doubt, why the Governor Lucky Aiyedatiwa 's government has achieved nothing since its inception over a year ago? The focus is more on looting than development of the state.

"Our party calls on the Economic and Financial Crimes Commission (EFCC) to be thorough in their investigation of the stealing of public funds in Ondo State, through the 2025 Budget. No state can make progress if those entrusted with the people's funds are not accountable but use under-hand tactics to steal."

Reacting, an Akure-based legal kractitioner, Femi Emmanuel Emodamori, said it was totally scandalous, senseless, tactless, and heartbreaking. His words: "We have 60 minutes in an hour, 24 hours in a day, and 365 days in a year. So, we have 1,440 minutes in a day (60 x 24) and 525,600 minutes in a year (1440 x 365). Even with the recent approval for a 50%

respect for the legal and judicial framework within the State, and prevent a breakdown of law and order."

Meanwhile, in Ekiti, a protest by the Yoruba Regional Alliance (YRA) worldwide in collaboration with all Yoruba self-determination organisations, had trailed the setting up of a Sharia court. The protesters gathered at a hotel in Adebayo area of Ado Ekiti, where they chanted songs and carried placards with various inscriptions such as, ‘No to Sharia in Yorubaland’, ‘Sharia will cause war’, ‘Sharia is constitutional blunder’, ‘We reject Sharia’ to mention a few. They were however prevented from moving round the streets as planned by the police in order to avoid possible crisis.

Addressing journalists, the leader, Yoruba Regional Alliance Worldwide, Opeoluwa Akinola, alleged that the struggle to introduce Sharia into Yoruba land was an attempt to cause chaos and disharmony, saying the practice did not represent her values.

Akinola noted that the Yoruba people irrespective of their religions, had co-existed peacefully for generations without the sharia penal code wondering what the Sharia law introduction was going to achieve that the existing penal codes and legal systems operative in Yoruba land could not.

increase in call tariff from N11 to N16.5 per minute by the federal government, a non-stop telephone call for the entire 525,600 minutes in a year would cost only N8,672,400.

"The allegation that the Speaker of the Ondo State House of Assembly claimed, inserted, and approved N200m as telephone call allowance for his office in the 2025 Ondo State Budget is, therefore, totally scandalous, senseless, tactless, and heartbreaking.

“Could this be part of a mutual arrangement by the executive and legislative arms of government in Ondo State to plunder the state, particularly in view of the allegation that the State's Commissioner for Finance (just a commissioner) got an approval for a strange, unprecedented, and illegal N11billion as 'Security Vote' in the

Oluwole

PHOTO: Sylvester Idowu

Adedayo Akinwale in Abuja

James Sowole in Abeokuta and Gbenga Sodeinde in Ado Ekiti

BRIEFING ON 2025 EDITION OF GTCO/LAGOS INTERNATIONAL POLO TOURNAMENT...

Mbah Reiterates Call for Enforcement of Anti-spill Lock Against Tanker Explosions

Another tragedy averted in Niger

Laleye Dipo in Minna

Enugu State Governor, Dr. Peter Mbah, has reiterated his call for the enforcement of anti-spill lock on fuel tankers across the country, saying disasters arising from tanker-spill had become too frequent.

This was as another tragedy was averted on Monday in Niger State, when a tanker laden with 40,000 liters of fuel overturned and burst into flames.

Mbah, yesterday, restated this when he received the Director-General of the National Emergency Management Agency, NEMA, Mrs. Zubaida Umar, and her team, who were in Enugu to flag-off the distribution of emergency intervention items to victims of Saturday’s tanker fire that caused the loss of several lives and also consumed several vehicles and goods at Ugwu Onyeama along the Enugu-Onitsha federal highway.

"As I stated when I visited the scene, we have disasters that we know that we obviously could not have envisaged or predicted; and when they happen, we trigger all the responses that we have set up.

"But this issue of tanker fire or explosion is becoming too recurrent and I did call on the law enforcement agencies, particularly the Federal Road Safety Corps, FRSC, to ensure the enforcement of the anti-spill lock.

“This is because if we have antispill lock on those tankers carrying inflammable products like petrol and automotive gas oil, we will then be able to mitigate such disasters because even if the tanker falls, it will still not spill.

“But what happened in Enugu was a function of the spill of PMS (petrol) that got into other cars, and they got ignited.

"So, I will always want to use this opportunity again to reiterate my call on the law enforcement agencies to ensure strict enforcement of the anti-spill lock on all our petroleum product tankers. It is extremely important," he stated. Mrs. Umar, while commiserating with the government and people of Enugu State, commended Mbah for showing leadership in the midst of the disaster.

“I wish to commend you for the timely visit to the scene of the incident and various decisions made, including ensuring that maximum medical attention was given to the survivors.

Chuks Okocha in Abuja

One of the feuding National Secretaries of the Peoples Democratic Party (PDP), Senator Samuel Anyanwu, yesterday, accused Hon. Sunday Udeh-Okoye, who was mandated by the Court of Appeal as the new national secretary of using forged documents and guidelines to obtain the judgement against him.

Also, the Deputy National Legal Adviser of the PDP, Okechukwu Osuoha, collaborated this position, claiming that the Court of Appeal judgement was based on forged PDP constitution and electoral guidelines.

“Today’s flag-off of relief assistance to the victims of tanker fire is therefore an outcome of the collaborative initiative, which NEMA has put in place to support the population at risk.

“It is the collective responsibility of all tiers of government to provide support to disaster victims; hence, NEMA is therefore complementing the efforts of the state government,” she said.

However, in Niger, the incident took place between Agaie and Lapai towns in Niger State. It was learnt that both the driver of the vehicle and his conductor were rushed to the Lapai hospital for treatment as a result of injuries they sustained from the accident.

According to an eyewitness, the tanker had a front tyre burst, which made it impossible for the driver to control the vehicle and forcing it to overturn and burst into flames.

"Our men are on their way to the point where the accident happened. I will get back to you when they return," he said.

The Police in Minna also confirmed the incident in a statement by its Public Relations Officer, a Superintendent of Police, Wasiu Abiodun.

Public Relations Officer of the Niger State Emergency Management Agency, NSEMA, Alhaji Ibrahim Hussaini, confirmed the incident, saying it happened in the bush.

Tinubu Rejoices With Rivers Fubara at 50

Charges him to promote peace, unity, resolve differences,bring people together

Hails ex-Lagos deputy gov, Femi Pedro at 70 Rivers gov promises not to allow spoils of office change him

Elumoye and Chuks Okocha

President Bola Tinubu has rejoiced with the Rivers State Governor, Siminalayi Fubara, on his 50th birthday.

The president, in a statement by his Adviser on Information and Strategy, Bayo Onanuga, lauded Fubara’s contributions to governance in Rivers State and his efforts to foster growth in the region.

Tinubu urged Fubara to redouble his efforts in promoting peace and unity, emphasising the importance of harmony as a foundation for sustainable development.

“As you celebrate this milestone, I commend your dedication to the service of your people. Governance thrives where peace reigns.

“I encourage you to continue working tirelessly to bring people together, resolve differences, and create an environment, where progress can

flourish for the benefit of all Rivers people,” he said.

Tinubu wished Fubara continued wisdom, strength, and success in his leadership journey and prayed for more remarkable achievements in the years ahead.

In the same vein, the president hailed a former Deputy Governor of Lagos State, Otunba Femi Pedro, as he marks his 70th birthday today, January 29, 2025.

Tinubu, in a tribute personally signed, stated: "Today, I celebrate my dear friend and brother, Otunba Femi Pedro, who will be 70 on January 29.

"Otunba Femi Pedro is a brilliant mind and a dedicated public servant whose contributions to Lagos State and Nigeria continue to inspire many.

“As my deputy when I was governor of Lagos, he demonstrated an unwavering commitment to excellence and the progress of our nation. This attribute sets him apart as a leader

who always puts the people first.

"Beyond his years of service in government, Otunba Femi Pedro has distinguished himself as a trailblazer in banking and entrepreneurship.

“He has created opportunities for many and contributed to Nigeria's economic growth. His leadership, integrity, and deep sense of patriotism remain a source of inspiration for those who seek to make a difference.

"As Femi marks this milestone, I join his family, friends, and well-wishers in praying for his continued good health, happiness, and fulfilment in the years ahead.” Meanwhile, Fubara, has declared that he would not be drunk with power or allow the associated advantages and benefits that come with holding a lofty position in government to change him. Rather, the governor assured the people that he would remain committed to his vows made to Rivers people, when he got their mandate,

to completely put things in place that would transform the state to become what they dreamt it to become.

Fubara made the remark when some leaders, elders and critical stakeholders of the state paid him a birthday visit at Government House, Port Harcourt, yesterday.

The governor explained that he had never subscribed to celebrating birthdays but seeing leaders of the state gather to celebrate him pulled out tears of joy from his eyes.

"I want to say that I will still be the Fubara that you know. Power will not change me. I will still make sure that

what I hold dear in life remains, which is God and my respect for people. I will continue to maintain it.

"Power will come, power will go, but I will still remain the Fubara that you know. With your support, that Rivers State that we all yearn for, we will definitely, even if we don't get it completely, we will put those things in place that will channel and drive us to that Rivers State with your support."

In another development, former Vice-President Atiku Abubakar and PDP governors have commended the achievements of Fubara, saying they are evident.

They cited the case of the incumbent Governor of Taraba State, Agbo Kefas, who was the state chairman in the state, explaining that the PDP constitution and guidelines stipulated in Paragraph 1(c) dated March 2, 2022 that a party office holder should resign once sworn in his new elected office.

Anyanwu, and the deputy national legal adviser, however, claimed that it was the forged documents that Udeh-Okoye presented to the Enugu State Governor, Peter Mbah. The Deputy National Legal Adviser said Anyanwu ought to have reigned, had he won the

Imo State governorship election in September 2023. In view of this, Anyanwu and the deputy national legal adviser insisted that the former remained the national secretary until the supreme court decides otherwise.

Both Anyanwu and the Deputy National Legal Adviser spoke at the South East zonal working committee (Znwc) that took place at the national secretariat of the party, Anyanwu said he had appealed the judgement of the court of appeal and gotten an interim injunction pending the final decision of the Appeal Court.

''I appealed the judgement and appeal court upheld my tenure that I should stay in office until otherwise. The appeal court ruled that the status quo ante bellum should be maintained,” he said.

On the status of Ali Odefa, the National Secretary, said, ''He was suspended by his ward in Ebonyi State. He is yet to appeal the judgement. He was replaced by one Chidiebere Goodluck.

''Ali Odefa was removed by the Federal high court in Abakaliki, so the statement he signed against holding this zonal meeting is a nullity.

Adibe Emenyonu in Benin City

Edo State Deputy Governor, Mr. Dennis Idahosa, has urged citizens and residents of the state to disregard activities of mischief makers peddling rumours of rifts between him and his principal, Governor Monday Okpebholo.

The deputy governor added that it was not just that the rumours were unfounded, the relationship between him and his principal remained most cordial, with touch of an elder-junior brother relationship. Idahosa, was quoted to have made the remarks in a statement by his Press Secretary, Friday Aghedo, when he played host to executives and members of the Edo Parliament of Nigeria, who paid him a courtesy visit, yesterday at the Government House, Benin City. According to Idahosa, the Senator

Okpebholo-led administration was keen on delivering good governance and implementing laudable policies that would uplift the standard of living of Edo citizens and residents.

"Let me sincerely appreciate this Parliament. I am also a member of this parliament. First, let me thank God Almighty that made this possible. Let me also appreciate my principal, my boss, having found me worthy to be his deputy.

"It is such a great honour to have the calibre of men, most especially from Ovia, to pay this courtesy visit this wonderful afternoon. I am very much aware that you are doing so much to support this government.

"We will be needing your supports and prayers, and we also know that majority of you are professionals, and when we need your contributions, ideas, and suggestions, please you will be there for us.

Deji

in Abuja

L-R: Captain, Lagos Polo Club, Mohammed Sani Dangote; Official of Corporate Communication, GTCO PLC, Unoaku Sheidu; Secretary, Lagos Polo Club, Olugbile Holloway; Official of Corporate Communication, GTCO PLC, Mr. Derin Alex-Adedipe; Secretary General Nigeria Polo Association, Adeyemi Alakija; and Tournament Manager, Lagos Polo Club, Mayowa Ogunusi, at the media briefing on the 2025 edition of GTCO/Lagos International Polo Tournament held at the Lagos Polo Club... yesterday

PHOTO: ETOP UKUTT

PRESENTATION OF CERTIFICATE OF OCCUPANCY TO HOUSE OWNERS...

L-R: Chief Executive Officer, Houses for Africa Holdings, Mr. John Townley- Johnson; a beneficiary, Mr. Benjamin

during presentation of Certificate of Occupancy to house owners at the River Park Estate, in Abuja ... recently

Dogara Knocks Bala Mohammed, Says Wike Funded His Governorship Poll in 2018

Discloses how they “rigged” PDP primary for Bauchi governor

Chuks Okocha and Olawale Ajimotokan in Abuja

Former Speaker of the House of Representatives, Hon. Yakubu Dogara, has labeled Governor Bala Mohammed of Bauchi State, as a serial betrayer and an ingrate over his recent outbursts against the FCT Minister, Nyesom Wike.

Dogara delivered the rebuke yesterday in a statement.

He said Wike, then Rivers State Governor, facilitated Bala Mohammed's success in the 2018 PDP gubernatorial primaries at the expense of the formidable Senator Abdul Ningi and ensured Mohammed's victory at the

polls by funding his governorship campaign.

"As someone, who knows so much because I was the provocateur of the events between the two that I will speak to, I consider my silence not just cowardice but complicity.

“I should not be misunderstood to be defending Wike but simply stating the raw truth that I know and I really don’t give a damn if the truth makes Wike look good.

"For starters, need I remind Governor Bala Mohammed that in 2018 PDP Gubernatorial primaries, when we were not too sure he would win because, his then major opponent, Senator Abdul Ningi, was the one who

constituted the state party structure and had a bosom friend as Party chairman, it was Wike we turned to for help.

“I had called Wike to plead with him to help us in Bauchi without necessarily disclosing to him that it was Bala Mohammed that we wanted delivered.

"To do it, Wike made his bosom friend and close ally, Chief Dan Osi Orbih, the Chairman of the Panel for the primaries. Chief Dan was in Benin city and we needed to get him to Bauchi for the assignment, it was to Wike that I turned to again and his response to me was, 'my brother, I have told you not to bother about this.

“Tell Chief Dan to come to meet me in Port Harcourt'. I did just that and amazingly Wike provided the private jet that flew Chief Dan to Bauchi and out of Bauchi for the assignment.

“I can say without fear of any contradiction that Wike bore all expenses for the exercise. It’s therefore shocking that this so called transactional character called Wike did not place any condition whatsoever for his support," he said.

Dogara explained that despite his emergence as the party’s standard bearer, Mohammed could not finance his campaigns and that of other candidates of the party.

Diri Emerges South-South Governors’ Forum Chairman

Governors of the South-South geo-political have unanimously picked Governor of Bayelsa State, Senator Douye Diri, as chairman of the South-South Governors Forum.

Diri was elected yesterday, during the forum’s meeting in Government House, Yenagoa.

Cross River Governor, Senator Bassey Otu, emerged as vice chairman of the forum.

Governor of Delta State, Rt. Hon. Sheriff Oborevwori, moved the motion nominating Diri while his Rivers State counterpart, Siminalayi Fubara, seconded it.

Responding, Diri said his emergence as chairman was a call to higher service and promised to serve the forum and the region diligently.

He said it was not an office for him alone but a collective task for all governors of the South-South to move the region forward.

Diri stated that the forum would go beyond issuing communiques to taking action in critical issues that affect the region's development.

His words: “Working together, we have all resolved that our region will not fail. We have seen other regions working while our region was quiet.”

In his opening address, Diri said the objectives of the forum include “fostering greater synergy among our states, and advance regional investments in critical sectors such

as security, agriculture, education, power, environment, tourism, and youth empowerment through sports, ICT and entrepreneurship.”

He said it had become imperative to speak with one voice in view of the swiftly changing landscape of the country and the world at large.

According to him, leveraging the strengths and resources of each member state, they could design and implement targeted initiatives that foster sustainable development and prosperity.

He identified South-South regional flight connection as one area of col- laboration to ease air travel within the zone.

In their remarks, Governors Umo Eno (Akwa Ibom), Otu, Oborevwori and Fubara, appreciated Diri for hosting the meeting and for setting the tone for states to have action plans and delivery timetable on issues agreed on.

They noted that the meeting was long overdue and that it was expedient for states in the region to work together to forge a buoyant economy outside of oil and gas.

They also stated that speaking in one voice would send the right signal that the region deserved the necessary attention from the government at the centre.

According to the governors, previous meetings, particularly under the auspices of the BRACED (Bayelsa Rivers Akwa Ibom Cross

River Edo and Delta) Commission had not yielded the necessary results and prayed that the new direction under Diri would open a new vista for the region while urging forum members to put political affiliations aside to enable them achieve their objectives.

In a communique, the governors expressed support for the ongoing tax reforms of the President Bola Tinubu administration.

The communique, read by the Bayelsa governor, however urged the president to extend the proposed VAT sharing to other areas of derivation like oil and gas.

They argued that the law on oil derivation prescribed a minimum of 13 percent and that the federal government should consider also

Anniversary:

Emmanuel Addeh in Abuja

Presidential candidate of Labour Party (LP) in the 2023 general elections, Mr Peter Obi, yesterday lauded THISDAY on its 30th anniversary as well as Arise Television on its 12th year of existence.

In a statement, the former Anambra state governor said that the two media houses have since their inception been at the forefront

increasing the amount on oil derivation to states of the region.

The forum also appreciated the president for the award and commencement of the coastal road project but demanded that it equally commence from the Calabar axis as it would not only enhance connectivity but also stimulate economic development in the region.

While thanking Tinubu for the ongoing work on the East-West Road, the governors stressed that work should be expedited to ensure earlyOthercompletion. areas the South South governors called for the intervention of the federal government included the extension of the ongoing remediation of Ogoni land to other polluted environments in the region.

of innovative and bold journalism in the service of the nation.

“On the occasion of the 30th/12th anniversary of THISDAY newspaper and Arise TV respectively, I like to join compatriots in saluting the publisher/Proprietor, Board and management of Leaders and Company.

“No doubt, THISDAY and Arise TV have contributed immensely to the development of the media

He said that the fundraiser held in Abuja for Bala was a flop because of his inability to build enough goodwill to help his cause despite serving as FCT Minister for almost six years in the Goodluck Jonathan administration. He said a committee that organised the fundraiser at the then Lady Kwai Hall, Sheraton Hotels, Abuja only succeeded in raising a paltry N48 million.

But, to cover up their shame, he said he and two then serving senators resolved to seek assistance from Wike again, by flying to Port Harcourt without informing Wike that they were coming with Bala.

Dogara said while waiting at the Government house, Wike visage changed when he was descending the stairs to join them as soon as he saw Mohammed and he was frosty to him for the very first time.

"He asked us to join him at the dining room for breakfast but excused me while those on my delegation waited. He was like, 'Speaker why did you bring Bala to my house' without even caring to find out what our mission was?

I said to him, 'I thought he is your friend since both of you served in the same cabinet under President Jonathan'. He said to me, 'Let me tell you what you don’t know. When we were ministers, Bala Mohammed allocated plots of land to all ministers except me'.

"He also recalled how he humiliated him when he went to see him in his office as a colleague minister just to get an approval to increase the number of floors on a building he had in Abuja, not to beg for plot which he refused to allocate to him.

"He said Bala Mohammed kept him in his waiting room for hours and later sneaked out of the office. That from that day he made up his mind never to have anything to do with him again.”

According to him, Wike added, "I

industry and the country in general.

The two media houses have since inception been at the forefront of innovative and bold journalism in the service of the nation,” Obi added.

Obi stated that the company has since expanded its frontiers to include a vibrant television channel (Arise Africa) which has further enlivened the Nigerian and African information landscape in recent years.

wish, you had told me it’s Bala you were rooting for but whatever you want I will assist you guys because I don’t say no to a brother but I assure you, you will regret your decision if Bala Mohammed becomes Governor'. The rest is history," Dogara stressed. Dogara explained that Wike then offered to join them at the dining where he confronted Bala with these issues in the open and the presence of all.

The former Speaker said Bala admitted and pleaded for forgiveness assuring that he was now a changed man.

"To cut the long story short, we passed the night at the Government House and the next morning Wike called and directed that his cash assistance be handed over to me to pass to Bala.

“I said, 'your Excellency, it’s better I call him so that he can collect the assistance himself least he thinks you are still angry with him'. I sent for Bala and when he came Wike’s aide handed over the package to him and he collected it while almost kissing the ground.

"If Bala has forgotten how much we left with that day, I will remind him. Wike didn’t stop there, he gave us a private jet to ferry us back to Abuja. And I must add that was not the only time Wike helped Bala with resources and logistics.

“What is baffling is that the so called transactional Wike did not demand for anything in return nor place any condition for all that he did. Believe me, this is not the end of the story but let’s leave it here.

"With all these, my question to Bala is what happens to the golden adage that you don’t attempt to break the calabash from which you once sucked honey? For Bala, power is a poison and anyone who questions how he wields it, for that reason, is an eternal heretic that must be crushed at all cost.”

“Taken together, both THISDAY newspapers and Arise TV have become invaluable features of our media world. It is my hope that the establishment will further grow in strength, especially in its overall support of the democratic aspirations of our nation.

“Once again, I congratulate the Chief Executive and Directors of Leaders and Company on their 30th/12th anniversaries,” Obi noted.

Ogwuche; Dr. Adrian Ogun; and the Chairman of Houses for Africa Nigeria, Mr. Paul Odili,

Olusegun Samuel in Yenagoa

RETIREES EMPOWERMENT INITIATIVE……

Cross River State Head of Service, Innocent Eteng (left), and Director-General of Cross River State Medium and Micro-Enterprise Development Agency (MEDA), Great Ogban during the unveiling of the Retiree Entrepreneurship Development Initiative (REDI) in Calabar…yesterday

Edo Tribunal Resumes Sitting in Abuja as PDP Witness Alleges Irregularities

Alex Enumah inabuja

The Edo State Governorship Election Petition Tribunal yesterday resumed hearing in the petition of the Peoples Democratic Party (PDP) and its candidate, Asue Ighodalo, challenging the return of Senator Monday Okpebholo as winner of last year’s governorship poll. The tribunal was relocated from

Benin City to Abuja, few days ago as tension continued to rise between supporters of the governor and the PDP.

The relocation, however, affected the day’s proceedings as the petitioners could not call most of their scheduled witnesses due to fatigue.

According to the lead counsel of the petitioners, Mr. Adetunji

One Dead as Two-storey Building Collapses in Lagos

An adult male lost his life when a two-storey building under construction collapsed at the Northern Vulture Estate on Chevron Drive, Lekki, Lagos yesterday evening.

The Permanent Secretary of the Lagos State Emergency Management Agency (LASEMA), Dr. Olufemi OkeOsanyintolu, who confirmed the incident, said that apart from the one male who lost his life, four others sustained serious injuries.

According to him, the injured victims, all adult male, were promptly rescued by emergency responders and transported to

the hospital for medical attention by LASAMBUS officials. Eyewitnesses said that most of the victims were construction workers.

Oke-Osanyintolu said that the agency, in collaboration with other emergency stakeholders, successfully managed the initial rescue operations.

He said heavy-duty equipment had been deployed to the site to aid ongoing search and rescue efforts.

He said: “Operation is continuing as emergency teams work tirelessly to ensure no victims were left under the rubble.”

Ooni Of Ife, Lagos Endorse Zylus Group’s Housing Initiatives

In a significant show of support, the Ooni of Ife and the Lagos State Government have endorsed Zylus Group International’s innovative housing solutions, praising the company’s commitment to fostering economic growth and providing affordable housing for Nigerians.

At Zylus Group’s Annual Thanksgiving and Awards Ceremony in Lagos, during the weekend, HRM Oba (Dr.) Olufolarin Olukayode Ogunsanwo, Alara of Ilara Kingdom, representing the Ooni

of Ife, commended the company’s efforts in improving access to affordable and sustainable housing. He emphasised the importance of Zylus Group’s initiatives in addressing the housing needs of Nigerians, particularly in urban areas.

Similarly, the Special Adviser on Housing to Lagos State Governor, Mrs. Barakat OdunugaBakare, lauded Zylus Group’s dedication to addressing the housing needs of Lagosians, emphasizing the importance of such initiatives in driving sustainable development and addressing societal challenges.

Spektrum Entertainment’s Element House Opening Party Holds Saturday

Spektrum Entertainment has announced the return of Element House, kicking off this Saturday, February 1, 2025. The opening party will be held at the Landmark Centre in Lagos on Saturday playing of House, Afro House, Deep House, and Afro deep sounds.

The line-up of the performers include: Homeboyz; Vidza; Tobi Peter and Tigran Sound.

According to organisers, the all-night fun will run from 11.00p.m till 5.00a.m.

“Tickets are already on sale for

the big night with table reservations available, “ the event handlers said in a statement. The statement added that Element House is sponsored by a number of corporate entities which include Johnnie Walker Nigeria, Desperados Nigeria, and Red Bull.

“Spektrum Entertainment has been established to be a leading force in Nigeria’s entertainment and nightlife scene, committed to curating exceptional events that celebrate music, culture, and connection,” it said.

Oyeyipo, SAN, most of their proposed witnesses, “suffered travel disruptions.”

Meanwhile, continuing his evidence, the 12th witness of the

petitioners (PW12), Mr. Oseyili Anenih, alleged widespread irregularities in 765 polling units during the September 21, 2024 governorship election poll won

by the All Progressives Congress (APC).

According to Anenih, there were discrepancies in the Certified True Copies (CTC) of results and

the Bimodal Voter Accreditation System (BVAS) accreditation reports obtained from the Independent National Electoral Commission (INEC’s) IREV portal.

One Victim of Abuja Abduction Found Dead

Linus Alekewithagencyreport

One of the five abducted residents of Chikakore Community in Kubwa, Bwari Local Government Area, in the Federal Capital Territory (FCT), Abuja has been found dead. The lifeless body of Esther Adesiyan was reportedly recovered in a bush near Itagbajii community

in Niger state.

The deceased, his husband, Mr. Akinropo Adesiyan, their son, Ifeoluwa, and a family member, Dr Adekunle Adeniji were abducted in their home alongside a neighbour working in a poultry farm near the house at about 12: 00 am on Monday.

Regrettably, the wife of the poultry worker was reportedly injured and later taken to the Kubwa General hospital for treatment.

Police Public Relations Officer, FCT Police Command, SP Josephine Adeh, on Monday afternoon confirmed the abduction in a statement.

According to her, “The FCT Police Command has commenced a comprehensive search and rescue operation aimed at securing the safe recovery of the abducted victims and apprehending the perpetrators of this criminal act.

“The FCT Police Command calls on residents of the Chikakore community and the general public to remain calm and vigilant.

Alleged Property Theft: Court Orders Arrest of Access Bank MD, Secretary

Justice Ibironke Harrison of a Lagos State High Court has ordered the arrest of Access Bank’s Managing Director, Roosevelt Ogbonna, Company Secretary, Robert Imowo and Bolaji Agbede.

The trio, according to court documents, are to be arrested and produce before

the court on February 24, 2025 and further dates as may be deemed fit by the court.

The order was sequel to their failure to appear in court on January 20, 2025 in suit number: LD/24884C/24, between Lagos State versus Adejare Adegbenro and four others.

Other defendants which include Balmoral International Limited and DDSS International Company Limited, are standing trial on charges bordering on alleged conspiracy, obtaining by false pretence, and fraud to the tune of N1.356 billion.

The allegations stemmed from a 2013 incident where the defendants allegedly used MOB Integrated Services’ property as loan security without consent.

The property, located at Plot 40b, Bourdillon Road, Ikoyi, belongs to a Company owned by Gbolahan Obanikoro, son of former Minister of State for Defence, Senator Musiliu Obanikoro.

Community Lauds Fubara for Respect to Rule of Law Governance

Blessing Ibunge in Port Harcourt

The Bukuma community in Asari-Toru Local Government Area of Rivers State has commended the Governor Siminalayi Fubara-led government for maintaining law and order in the state by

upholding the constitution of Nigeria in all its dealings.

Paramount ruler of AgumBukuma Kingdom, His Royal Majesty (HRM), Precious Elekima, made the remark in a statement he signed and made available to journalists in Port Harcourt yesterday.

Illegal Detention: Uzodimma Critic Offers

Tony Icheku inOwerri

There was uneasy calm in Owerri, the Imo State capital, yesterday as family members and associates of Dr. Fabian Ihekweme, former Commissioner in the first term of Imo State Governor, Hope Uzodimma, expressed anxiety over the fate of

Ihekweme has spent 61 days in Tiger Base, the police detention centre in Owerri notorious for politically motivated arrests, torture, inhumane treatment of detainees held incommunicado, extortion, and enforced disappearances.

Ihekweme’s family and associates are uneasy as his whereabouts

The monarch further enjoined the state government to continuously adhere to the principles of separation of powers as enshrined in the constitution of the Federal Republic of Nigeria.

He urged Rivers State government to be wary of

remain uncertain even as a mysterious letter began circulating on the social media early yesterday with no verifiable source. However, the pro-Uzodimma community newspapers and social media apologists are feasting on the letter and sharing it across social media platforms.

antics of desperate people who are trying to circumvent the constitutional provisions of using legal means to appeal the dismissal of the case filed by HRH Stephen Tobins versus Chief Precious Elekima which was dismissed on October 11, 2024.

Efforts by THISDAY to ascertain the veracity of the letter met a stonewall as the Imo State Police Public Relations Officer, Mr Henry Okoye, refused to answer his calls or respond to SMS sent to his phone inviting him to react to the letter which has gone viral and to confirm the whereabouts of Ihekweme.

Odu’a, Others Laud Retired WEMABOD MD for Contributions to Firm’s Growth

Sunday Okobi

The management of Odu’a Investment Company Limited has commended the retiring Managing Director of WEMABOD, Emmanuel Oluyemi Ejidiran, for his significant contributions to elevating the property company, adding that under his leadership,

the profit before tax (PBT) grew to N1.3 billion within five years. This commendation was made during a farewell party held in Lagos, in honour of Ejidiran, who has now retired from WEMABOD. Speaking at the event, the Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, noted the significant

progress WEMABOD experienced in various aspects of its business under Ejidiran’s leadership over the past six years. He acknowledged the company’s modernisation and growth, stating that: “Under your leadership, you have transformed the group. It underwent a re-envisioning and diversification process, becoming a full-service real estate

business encompassing real estate development, property management, and facility management.”

Ashiru highlighted Ejidiran’s commitment to excellence in real estate delivery, pointing to property upgrades to notable buildings such as Western House and Investment House, “which are now significantly more livable and marketable.”

GOC Promises Enhanced Security for Corps Members

Onuminya Innocent in Sokoto

The General Officer Commanding 8 Division Nigerian Army, Sokoto, Major General Ibikunke Ajose, has assured that

corps members and National Youth Service Corps (NYSC) formations within its areas of operation will continue to enjoy maximum protection from officers and men of the Division.

The GOC disclosed this

yesterday when he visited Wamakko Permanent orientation camp, Sokoto. He said all corps members serving at the Division are equally accorded high priority with other privileges alongside the Army officers.

The visit was to enable the GOC to assess the activities of his personnel being deployed to partake in the conduct of the 2024 Batch C’ Stream II orientation course and to also see how corps members are fairing in the camp.

Mary Nnah

Troost-Ekong: Super Eagles Ready for AFCON 2025 Showdown

Femi Solaja

Captain of the Super Eagles, William Troost-Ekong, has said that the team is ready to play any opposition during the AFCON 2025 scheduled to hold in Morocco later in the year.

Ekong who was voted the “Most Valuable Player” of the last AFCON in Abidjan, Côte d’Ivoire strongly believes that the Super Eagles who are paired along with Tunisia, Uganda and Tanzania in Group

C of the AFCON 2025 will come out clean from the group.

The Al-Kholood centre-back scored two goals at the last AFCON tournament against the hosts Cote d’ Ivoire in the group stage and in the final match which Nigeria lost 1-2.

But the Netherlands-born defender is confident Nigeria have what it takes to go all the way in Morocco at the end of the year. In his reaction to the Draw which held on Monday evening in Rabat,

Ekong told NFF Tv that all the other teams in the group should be

“Therespected.AFCON 2025 draw is now over. It’s very exciting to see the new group. Tunisia, Uganda, and Tanzania are three teams that need to be respected. I think we have the experience now to know how to handle these situations.

“There’s no such thing as an easy game in Africa, and I stand by that, but I believe we have everything on

our team to get out of this group, and this time, go all the way,” the former Watford defender told NFF Tv.

Additionally, Ekong admitted that the Nigerian team have learned from their bitter-sweet experience in Abidjan.

He backed the team to go for gold under new manager Eric Chelle.

“We learned so much last year from the AFCON in Abidjan and this time we’ll be more ready. We’ll be working hard all year to make

sure everyone is fit and ready, and everyone is looking forward to getting going under the new coach.

“It’s an exciting year ahead and I’m very happy with the AFCON draw,” the 31-year-old remarked.

Ekong will be preparing to lead Nigeria to a win when Eric Chelle makes his dugout debut in March during the 2026 FIFA World Cup qualifiers against Rwanda away in Kigali and against Zimbabwe at the Godswill Akpabio Stadium in Uyo.

Injury Knocks out Ademola Lookman from Barcelona Clash Tonight

Boniface misses Leverkusen training ahead crucial tie with Sparta Prague

Super Eagles striker, Ademola Lookman, will miss Atalanta final UEFA Champions League clash at Barcelona tonight on account of a knee injury. He suffered the injury in training during the week.

Reigning CAF Player of the Year Lookman has lately been a substitute for the Italian club possibly because of the recurring knee problem.

Atalanta are seventh in the overall UEFA Champions League new format standings with 14 points after seven matches.

They are likely to need a result at Barcelona tonight to finish in the Top-8 to reach automatic playoff round.

Elsewhere, another Super Eagles forward, Victor Boniface, has also missed training with Bayer Leverku-

CHAMPIONS LEAGUE

sen as a sensational switch to top Saudi Arabian club Al Nassr moves ever closer. Leverkusen are at home to play Sparta Prague in the Champions League tonight. The German side are eighth in standing and need a win or draw to finish amongst the Top 8 that will qualify automatically for the next stage without playoff.

Top Transfer Expert, Fabrizio Romano, reported yesterday that the Al Nassr delegation has been in Germany to negotiate with both club and player.

The Transfer Expert further reported that Boniface has given his okay for the move after Leverkusen negotiated with the Saudis.

Taofik Maya Relives 1996 Triumph at Molade Okoya-Thomas Cup

At 64, Taofik Maya fondly recalls his victory over Sawo Aiyemojuba to become the Men’s Singles champion at the 1996 Molade Okoya-Thomas Table Tennis Championships, describing it as the pinnacle of his illustrious career.

Meanwhile, national men’s champions Matthew Muti and Sukurat Aiyelabegan have been named the top seeds in the Men’s and Women’s Singles categories for the 56th edition of Africa's longest-running table tennis tournament.

Maya, now head coach with Oyo State, expressed his delight at the decision by the family of the late Molade Okoya-Thomas to elevate the tournament to a national event.

“Most of us who represented Nigeria cannot forget the tournament’s impact on our careers. Back

then, it was like the Olympic Games of table tennis, featuring legends like Atanda Musa, the late Yomi Bankole, and Wole Orukotan.

I started competing as a cadet player in the 1980s, and after participating in the tournament, I made the Lagos State team for the Bendel 1981 National Sports Festival, which I won. From that year, I competed in several editions of the championships, which were dominated by Musa and Bankole.

“In 1996, with Musa having left the country, I defeated Bankole in the semifinal and then beat Aiyemojuba in the final to win the senior title for the first time.

“Making it a national tournament now is a welcome development, and I believe it will help the players and enhance the quality of the competition with the best players in the country taking part,” Maya enthused.

move, right

“Talks now on-going on financial

package for both player and clubsides, with Saudis delegation in Germany since Monday as first revealed.” Leverkusen have placed a price tag of 50 Million Euros on the

24-year-old striker. Also, newly-signed Nigerian player, Vince Osuji, has not been named by Club Brugge on a 23-man squad for tonight’s decisive UEFA Champions League clash at Manchester City. Experts have said the 18-year-old central defender Osuji is a future investment for the Belgian champions. However, Super Eagles midfielder Raphael Onyedika is on the trip to England.

Club Brugge have recorded 11 points from seven matches. They may now need a result at City tonight to make the 24 qualified teams for the knockout rounds.

ViaDerma, a pioneering U.S.-based pharmaceutical startup, recently made a significant impact at the African Military Games held at the Moshood Abiola Stadium in Abuja, Nigeria.

The event saw participation from 44 countries and over 2,000 athletes competing in 19 different sports including archery, athletics, badminton, football, and karate.

The African Military Games aims to strengthen military solidarity, promote cultural diversity, and foster unity among African nations.

ViaDerma not only participated but also served as one of the event sponsors, thus marking a significant step in its commitment to supporting military personnel across Africa.

According to the CEO of ViaDerma, Christopher Otiko, ViaDerma is dedicated to improving

healthcare standards and supporting the well-being of military personnel across Africa.

“Being part of the African Military Games is a great honor and an excellent platform for us to demonstrate the effectiveness of Tetracyte, our flagship wound-healing drug," said Otiko.

He stresse$ that Tetracyte is widely used for treating wounds and infections among African soldiers and is poised for broader adoption.

"All branches of the Nigerian military have shown keen interest to use Tetracyte once all necessary approvals are in place, Otiko added. "Infections and wounds from injuries are prevalent medical issues in Africa, and Tetracyte is recognized as one of the top topical medications globally for treating such conditions."

35 Teams Vie for 2025 Lagos International Polo Top Prizes

The 2025 NPA/ GTCO Lagos International Polo Tournament is set to gallop off on February 4, 2025 with a record 35 teams jostling for top honours in four major prizes and six subsidiary laurels.

The ambitious teams fully armed with foreign professionals and fortified with thoroughbred Argentine horses would be competing for The Silver Cup, The Lagos Low Cup, The Open Cup and the event’s biggest prize, the Majekodunmi Cup respectively.

The subsidiary prizes are, the Oba of Lagos Cup, Governor’s Cup, Adedapo Ojora Memorial Cup, Sani Dangote Cup, the Italian Ambassador’s Cup and the Independence Cup, Lagos Heritage Cup, Chief of Naval Cup, and Owen Bowl would also be won during the fiesta reputed as the oldest polo tournament in Africa, dating back to the early 1900s. For the third time in the rich history of the international polo festival, the glamorous event would be decided over three weeks of bumper to bumper polo actions with six equally matched teams

jostling for the Open Cup and the Silver Cup from February 4 in the opening week.

The highly revered Majekodunmi Cup will take the centre stage from February 11 to 16, 2025 with four teams including Lagos Art Hotel, Lagos Shoreline, Lagos STL and visiting Abuja Rubicon battling for the top prize.

The last week of prestigious polo festival would feature teams drawn from major polo centres across the country locked in battle royale for the Low Cup.

“It’s going to be three weeks of thrilling polo experience for our esteemed sponsors, partners and lovers of the noble game,” Tournament Manager, Olumayowa

Ogunnisi disclosed at a world press conference heralding the 2025 edition. Ogunnisi who commended the main sponsor GTCO and other sponsors stated that having gained reputation as one of the biggest polo tournaments in Africa, the Lagos Polo Club looks forward to delivering great values for the sponsors and participants during the epoch fiesta.

As part of activities lined up to celebrate the 50th anniversary of the founding of the National Institute for Sports (NIS) in Lagos, some ex students of the institute as well as six eminent Nigerians have been listed to be inducted into its Hall of Fame.

Speaking ahead of its 50th anniversary as well as the 9th Convocation ceremonies, the Director General of the NIS, Pro. Olawale Moronkola, said on Monday in Lagos that inducting the six

eminent Nigerians into its Hall of Fame was the Institute’s way of encouraging them to do more for sports development in the country.

“Here at NIS, we place premium on hard work and excellence. This is why we have scheduled to induct these six eminent Nigerians into our Hall of Fame,” stressed the NIS DG.

The six Nigerians to be inducted into the Hall of Fame include; former Plateau State Governor, Senator Simon Bako Lalong; Founder of Remo Stars FC, Hon. Kunle Soname;

Chairman/CEO of Air Peace, Mr Allen Onyema; President General Worldwide, Nigeria Football Supporters, Dr Rafiu Ladipo; Paralympic Gold medalist, Ms Lucy Ejike and former Ace Broadcast journalist and Director General of the NBC, Dr Danladi Bako. Also, in recognition of the immense contribution of the pioneer Principal of NIS, Dr Awoture Eleyae, the late sports administrator has been honoured with the naming of the institute’s Conference Hall after him.

Barcelona players at training yesterday ahead of tonight’s UEFA Champions League clash with Atalanta without Ademola Lookman in Spain

William Troost-Ekong...Says Super Eagles battle ready for AFCON 2025

Understand Victor Boniface has already opened doors to Al Nassr

after Bayer Leverkusen decided to negotiate with the Saudi club,” sources close to the player disclosed.

MISSILE

Akpabio to NASS Staff

“Politicisation of tenure or years of service of staff of the National Assembly are due to actions and inactions of NASC which must be stopped by sticking to provisions of letters of appointments issued. Refusal to proceed on terminal leave by some clerks, Secretaries or Directors, are clear cases of years of service elongation, which must be enforced by NASC” --Senate President, Senator Godswill Akpabio, faults service elongation by National Assembly staff.

MAGNUSONYIBE

The Tinubu Economic Risorgimento

The decision by ThisDay newspaper and Arise News to name President Bola Ahmed Tinubu as their Man of the Year is a fitting recognition of his journey as Nigeria’s president over the past 19 months, starting from May 29, 2023.

Tinubu’s presidency has been marked by ambitious socioeconomic reforms, most notably the removal of petrol subsidies and the unification of Nigeria’s multiple exchange rates. The elimination of fuel subsidies caused an unprecedented surge in the cost of living, given the pivotal role petrol plays in transportation and the daily lives of Nigerians. Meanwhile, the exchange rate unification led to a significant naira devaluation—over 50%—exacerbating inflation in an import-dependent economy like Nigeria.

Undoubtedly, these 19 months have been challenging for Nigerians. However, Tinubu and his economic team have framed these reforms as a necessary foundation for correcting long-standing structural imbalances. For decades, Nigeria prioritized subsidizing consumption—such as petrol prices and the naira’s artificial strength—over investing in critical infrastructure like roads, airports, railways, healthcare, schools, and electricity, which remain in dire need of improvement.

The current hardships, while severe, are viewed as temporary disruptions. Once these structural imbalances are corrected, the Nigerian economy is expected to recover and thrive. The effects of Tinubu’s reforms are thus twofold: while they have caused significant short-term pain, they also pave the way for an economic resurgence, which appears to be gradually unfolding.

Hardships and Emerging Gains

It is undeniable that, 19 months into Tinubu’s administration, Nigeria is far from achieving stability, let alone prosperity. Yet, there are signs that the worst may be over. For instance, the spike in the cost of goods and services following subsidy removal seems to have peaked, with petrol prices falling below N1,000 per liter after exceeding that threshold. Similarly, the exchange rate, which had soared to N1,750/$1, has dropped to around N1,500–N1,600, with potential for further improvement if reform policies remain consistent.

While the prices of goods and services are still higher than pre-Tinubu levels, there is growing evidence that the cost-of-living crisis is gradually easing. Critics may argue that the reforms have come at an enormous cost, citing inflation at nearly 35% and an unemployment rate of 73.2% to population in early 2024. However, the downward trend in petrol prices and exchange rates—key drivers of living costs—offers some hope for relief.

In summary, while the journey remains arduous, the early signs of recovery suggest that Tinubu’s reforms may eventually deliver the economic revival they promise. For now, the hardship persists, but the foundations for a more sustainable economy appear to be taking shape.

Although prices have not returned to pre-reform levels, they are undeniably dropping, albeit at a slower pace than the initial surge. This can be observed in the declining cost of petrol and the naira’s improved performance against foreign currencies.

The reduction in the cost of living, which had reached a crisis level, is largely attributed to the commencement of local refining by the Dangote Refinery. By refining crude oil into products such as Premium Motor Spirit (PMS), diesel, and jet fuel, the refinery has boosted local supply at a reduced cost. While prices are still above pre-subsidy removal levels, this development has multiple benefits, including job creation—both directly through refinery staff and indirectly through distributors.

In addition, the reactivation of the Port Harcourt and Warri refineries has further increased petrol supply in the market while creating more jobs. These efforts are complemented by several interventions from the Tinubu administration, such as the planned injection of $75 billion by the end of 2024 (rising to $250 billion by 2027) and the establishment of a presidential task force on Compressed Natural Gas (CNG). The CNG initiative seeks to provide an alternative to petrol for transportation and logistics while deploying CNG-powered

mass transit buses at both federal and state levels to alleviate the burden on the masses, especially public sector workers.

Another significant intervention is the increase in the national minimum wage from N30,000 to N70,000, representing more than a 100% rise. While not all 36 states have adopted the new wage, several are paying even higher rates, such as N85,000. This increase is expected to improve the lives of workers who were hit hard by the sudden removal of petrol and naira subsidies, which had previously created an illusion of economic stability. Tinubu inherited an economy in critical condition, likened to a patient in an Intensive Care Unit (ICU).

Beyond workers’ welfare, the government has stated that it has also distributed over N24 billion through conditional cash transfers to more than 991,261 vulnerable households across the country. Despite these efforts to ease the unintended hardships caused by the reforms, inflation and unemployment rates have yet to fully reflect the strides being made to address these challenges.

On a personal note, long before ThisDay newspaper named Tinubu as Man of the Year 2024, I predicted his rise to the presidency in my book “Becoming President of Nigeria: A Citizen’s Guide,” published in May 2022—well before he won the APC primaries. Using trend analysis, I forecasted that Tinubu would secure victory after a decisive contest mainly against the former Vice President Atiku Abubakar.

While others doubted his chances, I remained consistent in tracking Tinubu’s political trajectory. It was clear to me that, despite all odds, he would win the 2023 elections and initiate reforms to transform Nigeria. This prediction, made two years in advance, was not a claim to divine foresight but rather an informed analysis of political trends.

The biblical verse Jeremiah 1:5 states, “Before I formed you in the womb, I knew you; before you were born, I sanctified you; and I ordained you a prophet to the nations.” This scripture has led some commentators to view President Bola Ahmed Tinubu as a product of destiny. However, if he is indeed divinely appointed, why has his leadership brought so much pain to Nigerians who have endured prolonged hardships?

A plausible explanation is that significant socioeconomic transformations often require a period of struggle, akin to a wilderness experience. Even the United States endured the Great Depression of 1933-1935, marked by severe economic challenges. Americans bore the scars of that period until the nation was revitalized under the visionary leadership of Franklin Delano Roosevelt (FDR).

This historical comparison frames the current Nigerian experience as part of a larger struggle for socioeconomic liberation. While some may question the biblical reference in analyzing Tinubu’s presidency, given his Muslim faith, the complexity of his persona adds layers to his leadership. For instance, his wife, Senator Oluremi Tinubu, is a Christian pastor, a fact that highlights the inclusivity of his administration. This inclusiveness was recently acknowledged by

the Northern Christian Association of Nigeria, which initially opposed the Muslim-Muslim ticket of Tinubu and Vice President Kashim Shettima. During a meeting in Kaduna, Rev. Yakubu Pam stated, “For me, the most important thing is a government that is inclusive, and as far as they have done the Muslim-Muslim ticket, we have also seen inclusiveness.”

Remarkably, ThisDay newspaper, which named Tinubu its 2024 Man of the Year, initially posed a significant obstacle to his presidential ambition. Tinubu had refused invitations for interviews and public debates organized by ThisDay and its sister platform, Arise News. The eventual reconciliation between Tinubu and the media group lends authenticity to the award. In their citation, ThisDay editors highlighted Tinubu’s “unwavering resolve and bold reforms aimed at transforming Nigeria.” They praised his decisions to remove fuel subsidies, float the naira, and push for financial autonomy at the local government level, despite the hardships these reforms have caused.

While his tax reforms and policies have sparked controversy, Tinubu’s leadership as ECOWAS chairman, coupled with his diplomatic efforts to ensure regional stability, reflects his commitment to transformative governance. The editors acknowledged that while his reforms require more inclusive execution, his courage and resilience have positioned him as a consequential leader.

I align with ThisDay’s assessment of Tinubu’s reform agenda. His policies are uprooting entrenched structures that have long hindered Nigeria’s economic growth, a fact that bolsters my confidence in the title of this intervention: “Tinubu’s Economic Resurgimiento: The Best Is In Front of Us.”

Even international observers, such as the outgoing Spanish Ambassador to Nigeria, Juan Sell, echo this sentiment. During his farewell event in Abuja, he remarked, “Nigeria, what a potential! You own the future. It is only a matter of bringing that future to the present.” He urged Nigerians to channel their resilience into a collective commitment to build the nation.

This external validation, alongside Tinubu’s reform initiatives, strengthens my belief that Nigeria is poised for growth and prosperity. However, this requires Nigerians to demonstrate resilience and patience in navigating the current hardships.

Historically, I have supported bold reforms, such as General Ibrahim Babangida’s Structural Adjustment Program (SAP) in 1984/85. If Babangida had pursued his policies with the same determination Tinubu is showing now, Nigeria might already be counted among the world’s most prosperous nations.

That said, the impact of Tinubu’s reforms remains underappreciated by many Nigerians, as reflected in his low job approval ratings. However, history has shown that transformative policies often take time to yield results. The best is yet to come, and Nigerians must remain steadfast in their pursuit of collective progress.

Rather than highlighting the positive aspects of President Bola Ahmed Tinubu’s policies, much of the media narrative has focused on their negative fallout. This may be due to his media team’s inability to effectively communicate his vision with the vigor and creativity required. Additionally, the piecemeal implementation of Tinubu’s policies, as noted by many analysts, has made it difficult for the broader public to grasp their potential benefits.

For instance, when I argued in an earlier piece that the Nigerian economy appeared to be stabilizing, some critics dismissed my observations outright. Yet, their perspective began to shift as petrol prices started to decline. While this reduction has not yet translated into a drop in inflation, there is optimism that over time, the combined effects of lower petrol prices and naira stabilization will positively impact the cost of goods and services.

In December, we saw a boost in diaspora investments as a result of the naira’s devaluation, demonstrated by the heightened economic activity during “Detty December.” A friend in the U.S., for example, recently purchased a four-bedroom maisonette in Parkview Estate, Ikoyi, Lagos, for $200,000—an amount equivalent to about N320 million six months ago. For a U.S.-based professional, $200,000 may not be much, but in Nigeria,

it afforded him a luxury property in an exclusive area. This opportunity arose largely due to Tinubu’s decision to float the naira, a move that has attracted diaspora investments back home.

Unfortunately, such positive narratives are rarely emphasized. This is in stark contrast to the approach during General Ibrahim Babangida’s administration when the Structural Adjustment Program (SAP), though equally tough on the masses, was communicated effectively through the leadership of Prof. Jerry Gana. Under Gana’s guidance, Nigerians were convinced to accept SAP as a necessary alternative to International Monetary Fund (IMF) loans with harsh conditions. However, Babangida ultimately succumbed to public pressure, reversed some reforms, and stepped aside without fully implementing his economic vision.

Tinubu, on the other hand, has shown remarkable determination. Though a civilian, his resolve rivals that of military leaders like Babangida and Buhari, as he presses forward with critical reforms such as the removal of fuel subsidies, naira devaluation, and local government financial autonomy. With upcoming tax reforms in the works, Tinubu is on the verge of achieving a comprehensive policy overhaul that could reshape Nigeria’s economic future.

Unlike previous administrations, Tinubu has made these bold moves without resorting to costly national conferences, as was done in 1994/5 under Gen. Sanni Abacha’s watch as military head of state and Goodluck Jonathan in 2014. Yet, if a survey were conducted today, public sentiment about his leadership would likely lean negative, as Nigerians are currently bearing the brunt of these reforms. However, I believe that in five months, when Tinubu’s government reaches its 24-month milestone, the fruits of his policies will start to materialize.

One reform with long-term potential is the National Education Loan Fund (NELFUND), which aims to democratize access to higher education through interestfree loans. Though its full benefits may take a decade or more to become evident, this initiative could produce a wave of highly educated professionals, including doctors, scientists, and engineers, who would bolster Nigeria’s global competitiveness—similar to India’s experience.

Additionally, the Supreme Court’s recent ruling granting financial autonomy to local governments is expected to revitalize Nigeria’s rural areas. By ensuring that funds from the Federation Account go directly to local governments, this reform will address urban-rural migration, enabling rural communities to become economically vibrant once again. It will also make the case for state police easier with the LGAs contributing to the funding of the much tauted state police.

The ongoing tax reforms, particularly those related to Value Added Tax (VAT), are also poised to empower state governments by allowing them to retain a significant share of internally generated revenue. This shift will likely make states more entrepreneurial, fostering competition and innovation at the subnational level. In the future, attributes such as business acumen may become essential for governorship candidates.

Another promising initiative is the Credit Corp policy, designed to boost consumer purchasing power by providing credit for goods and services, such as vehicles and renewable energy solutions like solar panels. By enhancing consumer spending, the policy is expected to stimulate production, create jobs, and improve the overall standard of living.

In conclusion, the transformative reforms spearheaded by Tinubu lay the foundation for a brighter future, despite the current hardships. The administration must work diligently to communicate this vision, persuading Nigerians that the sacrifices they are making today will yield long-term benefits. It is this optimism that underpins my belief that “The Best Is in Front of Us.”

•Magnus Onyibe, a public policy analyst, author, democracy advocate, development strategist, alumnus of the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, (2003-2007) sent this piece from Lagos, Nigeria.

President Bola Tinubu