MONDAY 30TH JANUARY 2023 by THISDAY Newspapers Ltd

Africa’s Premier Media Group Commemorates 10yrs of Arise News Channel, 20th Edition of Arise Fashion Week, 28yrs of THISDAY Newspapers Winning the Emmy awards in New York was highpoint for a news channel that’s changing Africa’s journalism Obinna Chima With its honour and pride of place intact, today, Africa’s premier

media group, celebrates the 10th anniversary of its broadcast station, ARISE News Channel. Also, its pioneering fashion

event, the ARISE Fashion would mark its 20th anniversary this week as it organises the 20th edition of the event with the

theme, ‘Arise Fashion Week & Jazz Festival: Future Forward,’ in Lagos. Additionally, THISDAY

newspaper of note. For Arise News Channel, it is

newspapers would be celebrating its 28th anniversary this January, flaunting its numerous laurels and global acclaim as an outstanding

Ganduje: Kano Now Ready for Buhari’s Visit...

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Monday 30 January, 2023 Vol 28. No 10156. Price: N250

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& RE A S O

Use Your PVCs to Vote Out APC, Saraki Tells Nigerians...

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NUPRC Moves to End Inaccurate Accounting for Nigeria’s Oil, Gas Production Emmanuel Addeh in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has ended a two-day workshop in Abuja on production determination,

accounting and reconciliation for crude oil, natural gas as well as condensates. At the event, the upstream industry regulator noted that some of the objectives were to sensitise stakeholders on

the statutory requirements for production verification and certification. Speaking at the workshop, the Chief Executive, NUPRC, Mr. Gbenga Komolafe, who was represented by the Executive

Commissioner, Development and Production NUPRC, Dr. Habib Nuhu, stated that part of the reasons for the meeting was to obtain industry feedback and input on the NUPRC requirements.

The Deputy Director, Development and Production, Mr. Enorense Amadasu, stood in for the commissioner, who represented the chief executive. Komolafe added that as the regulator of both the technical

and commercial aspects of the upstream sector of the petroleum industry, it was important for the NUPRC to highlight the above to ensure optimal revenue Continued on page 5

CBN Deploys 30,000 Agents Nationwide to Boost Cash Swap as Buhari Approves Deadline Extension Gives additional 10 days for return of old N200, N500, N1000 Emefiele says N1.9tn of old banknotes so far returned Declares apex bank ready to exchange legitimately earned monies Lawmakers divided as Elumelu backs extension, Doguwa reiterates threat to arrest Emefiele Don't succumb to political pressure, blackmail, former Lagos deputy governor tells president Analysts laud extension Deji Elumoye, James Emejo, Udora Orizu in Abuja, Nume Ekeghe, Segun James and Dike Onwuamaeze in Lagos The Central Bank of Nigeria (CBN) has deployed 30,000 super agents nationwide to enhance its cash swap initiative in the hinterlands, rural areas and

regions underserved by banks in the country, just as it announced President Muhammadu Buhari’s approval of the extension of the deadline for the return of old N200, N500 and N1,000 from January 31st, 2023, to February 10, 2023. Continued on page 5

DISCUSSING DEADLINE FOR CASH SWAP POLICY... President Muhammadu Buhari (left) and Governor, Central Bank of Nigeria, Mr. Godwin Emeﬁele, when the governor gave the president an update on the cash swap and naira redesign project in Daura, Katsina…yesterday

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PAGE FIVE CBN DEPLOYS 30,000 AGENTS NATIONWIDE TO BOOST CASH SWAP AS BUHARI APPROVES DEADLINE EXTENSION The deployment of the 30,000 super agents was also to ensure that the weak and vulnerable persons are able to take their monies to the banks before the expiration of the deadline. Also, the apex bank, in compliance with Sections 20 (3) and 22 of the CBN Act, further offered a seven-day grace period beginning from February 10 to February 17, allowing Nigerians to deposit their old naira notes at the CBN after the February deadline when the old currency would have lost its legal tender status. The CBN Governor, Mr. Godwin Emefiele, disclosed this in a statement he personally signed yesterday. Also speaking with journalists in the president’s country home, Daura, Katsina State, yesterday, Emefiele said the extension of the deadline was to enable more Nigerians successfully change their currencies to the redesigned banknotes, reduce the risk of loss, especially among the underserved in rural areas. However, while the Minority Caucus in the House of Representatives led by Hon. Ndudi Elumelu, applauded the CBN for listening to Nigerians and extending the deadline, the Chairman of the House Adhoc Committee on the Naira Re-design and Naira Swap Policy, Hon. Alhassan Ado Doguwa, rejected the extension, insisting that the CBN must comply with Sections 20, sub-section 3, 4, and 5 of the CBN Act. But a former Deputy Governor of Lagos State, Alhaja Sinatu Ojikutu, has called on the president not to fall for the blackmail and pressure from the political class on his decision regarding the naira redesign, describing the policy as a political masterstroke that would expose saboteurs of the economy and those milking the nation. Furthermore, in the statement, Emefiele said the extension of the deadline was a gesture to allow for the collection of more old notes which are legitimately held by Nigerians and achieve more success in cash swaps, particularly in rural communities – after which all old notes outside the CBN lose their legal tender status. Emefiele, in the statement released after meeting with the president to provide him with updates on the implementation of the currency redesign project, disclosed that since the commencement of the programme, the apex bank had collected about N1.9 trillion, indicating a 75 per cent success rate when compared with the N2.7 trillion that was outside the vaults of deposit money

banks. He added that about N900 billion was still being expected in the banking system. He said Nigerians in the rural areas, villages, the aged and vulnerable have the opportunity to swap their old notes, leveraging the Agent Naira swap initiative as well as the CBN senior staff nationwide sensitisation team exercise. He said aside from those holding illicit/stolen naira in their homes for speculative purposes, the CBN remained determined to give all Nigerians that have naira legitimately earned and trapped, the opportunity to deposit their trapped monies at the CBN for exchange. Emefiele, appealed to Nigerians to work with the bank to ensure a hitch-free process for the implementation of the naira redesign programme, adding that the CBN staff are currently on mass mobilisation and monitoring together with officials of the EFCC and ICPC to achieve the desired objectives of the exercise. Emefiele said, “From the onset of this currency redesign programme, we made it clear that for 19 years, the CBN hasn’t been able to conduct this important aspect of its mandate; whereas, this should normally have been done within five to eight years window.” He said the central bank’s aim was mainly to make its monetary policy decisions more efficacious, adding that as a result of the recent policy interventions including the currency redesign and cashless policy. “we’ve started to see inflation trending downwards and exchange rates relatively stable.” The CBN governor also pointed out that the apex bank aims to support the efforts of security agencies in combatting banditry and ransom-taking in Nigeria through the currency redesign project, stressing that the military is making good progress in this regard. Emefiele, thanked Buhari for giving the CBN the approval to embark on the currency redesign exercise which the bank has not had the opportunity to undertake in the past 19 years. He said, “Indeed, let me emphasise that only an incorruptible leader of the president’s stature can give such approval to the CBN.” Also speaking to journalists in Daura, Emefiele said: "Our aim is mainly to make monetary policy decisions more efficacious and as you can see; we have started to see inflation trending downwards and exchange rates relatively stable. "Secondly, we aim to support the efforts of our security agencies in combating banditry and ransom

taking in Nigeria through this programme and we see that the military are making good progress in this important task." He added: "Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN.” According to Emefiele, to achieve effective distribution of the new currency, the CBN has taken some steps. He said several meetings were held with Deposit Money Banks and they were provided with Guidance Notes on processes they must adopt in the collection of old notes and distribution of the new notes, including directives that new notes should be loaded in ATMs nationwide for equitable and transparent mechanism. The CBN governor explained that the regulatory body worked with the media, print and broadcast, and the National Orientation Agency on sensitisation of citizens. To ensure compliance, Emefiele said staff members, mostly Assistant Directors, Deputy Directors and Directors in Abuja were sent to all CBN branches nationwide to join the mass mobilisation campaign and monitoring programmes. He said breaches of the programme had been reported to the EFCC and ICPC for further action. "We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free the implementation of this very important process for program,” Emefiele added. The CBN governor in respond to a question said the excuse of security threats pushed by the Kano State Governor, Dr. Abdullahi Ganduje, had no bearing on the cash swap policy, which he said had achieved compliance and recorded huge success across the country. His words: "I don't understand the relationship between the CBN policy and security challenges in Kano State." He noted that all new currencies had security features that make it easy for tracking to bank branches, and the process had begun to deal with defaulters and those who breached the programme. "Even if they are CBN staff, they will be sanctioned," Emefiele warned.

House Minority Caucus Hails Deadline Extension, Doguwa Reiterates Threat to Arrest CBN Governor

Meanwhile, the Minority Caucus in the House of Representatives has applauded the CBN for listening to Nigerians and extending the deadline for swapping of the old naira notes for new ones by 10 days. The caucus in a statement by its leader Hon. Ndudi Elumelu said the extension of deadline was a welcome decision, adding that it would ease the suffering as well as social and economic discomfort being faced by many Nigerians in accessing the new naira notes within the earlier stipulated deadline. He applauded the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, for his intervention in persuading Buhari and the CBN to extend the earlier deadline in the national interest. The caucus said, "As lawmakers and representatives of the people, our caucus commends the CBN for being considerate towards the wellbeing of Nigerians; which is the essence of democratic governance all over the world. His Excellency Atiku Abubakar’s patriotic intervention at this time further shows him as a compassionate leader who is always concerned and committed towards the wellbeing of Nigerians. “He has again demonstrated his experience, capacity, and competence to get the system to work in the interest of Nigerians at very critical time. "Our Caucus calls on Nigerians not to rest on their oars but to take maximum advantage of the 10 days extension to swap their old naira notes for the new ones. The Minority Caucus also urges the CBN to remain focused and intensify its sensitization efforts while putting every measure in place to assist Nigerians, especially those in the rural areas, to access the new naira notes." However, on his part, the Chairman, House of Representatives Adhoc Committee on the Naira Re-design and Naira Swap Policy, Doguwa, rejected the extension granted by the CBN. Doguwa insisted that the CBN must comply with Sections 20 Sub-section 3, 4, and 5 of the CBN Act. He said under his chairmanship, the committee would continue its work until it gets the demands of Nigerians addressed in accordance with the laws of the land. Describing the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, Doguwa said the CBN governor must appear before his committee or risked being arrested on the strength of legislative writs signed by

AFRICA'S PREMIER MEDIA GROUP COMMEMORATES 10YRS OF ARISE NEWS CHANNEL, 20TH EDITION OF ARISE FASHION WEEK, 28YRS OF THISDAY NEWSPAPERS an award-winning organisation that easily accesses major global news with a strong focus on Africa. However, winning the Emmy awards in New York, the United States, was the marked highpoint for a news channel that’s currently changing Africa’s journalism. The broadcast station accentuates positive stories about Africa across all genres, including politics, business, commerce, science, sports, arts and culture, showbiz and fashion. It broadcasts 24 hours from its studios in London, New York, Lagos and can be seen in the UK and across Europe on the Sky platform (Sky channel 519), Freeview (Channel 136) as well as in the USA on the Centric channel and also on the Hot bird platform, which transmits to Europe, North Africa and the Middle East.

On its part, the ARISE Fashion Week would be hosting its 20th edition with the theme: ‘Arise Fashion Week & Jazz Festival: Future Forward,’ in Lagos from February 2 to 4, 2023. The event would showcase exceptional designers from Africa and Africans in the diaspora over an array of jazz-themed performances. According to a statement by the management, it would be a celebration of African design and its progression over the years, as well as ARISE’s role in championing musical and design talents. The 2023 edition would feature a diverse set of world-class designers, namely: Ajabeng, Ameer by Ameer, Awa Meité, Bianca Saunders, BLOKE, Éki Kéré, Fruché, Hudayya, I.N Official, and Ituen Basi. Others are Joy Meribe, Kadiju, Lanre Da Silva Ajayi, Mariya

Sanusi, NiNiE, NKWO, Pepper Row, Selam Fessahaye, Syari Bespoke, T.I Nathan, Tiffany Amber, UNI FORM, Vicnate, XULY.Bët and Ziva Lagos. Since its inception, the pioneering fashion event, has been held under various names. They included ARISE Magazine Fashion Week, ARISE Africa Fashion Week, and ultimately ARISE Fashion Week, which returned to Lagos in 2018 following a six-year break. Previous editions were held in Lagos, Abuja, New York, London, Cape Town, Johannesburg, Washington, D.C., and Dubai. To cap, however, Africa’s most influential newspaper, THISDAY, would be celebrating its 28th anniversary, too. THISDAY hit the newsstands on January 22, 1995 and quickly carved a niche for itself in business and politics reporting,

particularly, for breaking major news stories. It soon became Nigeria’s newspaper of record. In its first years of publication, THISDAY won the Newspaper of the Year Award for three consecutive years. In 1997, THISDAY also became the first Nigerian newspaper to introduce full colour printing. It now has printing plants in Lagos, Abuja and in the Niger Delta. Today, THISDAY remains the preferred newspaper among the business, political and diplomatic elite, and is easily the most recognisable and influential national media brand globally. It is also the corporate and political advertiser’s first choice. THISDAY is the only high profile newspaper that appeals to both young and old because of its straightforward news reporting, strong editorial content, lifestyle features and business coverage.

the Speaker, Femi Gbajabiamila. He also said the policy was capable of frustrating the forthcoming general election. Doguwa said, "The 10-day extension for the exchange of the old naira notes is not the solution: We as a legislative committee with a constitutional mandate of the House, would only accept clear compliance with section 20 sub 3, 4, and 5 of the CBN Act and nothing more. Nigeria as a developing economy and a nascent democracy must respect the principle of the rule of law. "And the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the Adhoc committee. Security agencies and their operations especially at the states level are generally funded through cash advances and direct table payments of allowances to operatives during elections."

Don't Succumb to Political Pressure, Blackmail, Former Lagos Deputy Governor Tells Buhari Nevertheless, Buhari has been called upon not to fall for the blackmail and pressure from the political class over the naira redesign project. Former Deputy Governor of Lagos State, Alhaja Sinatu Ojikutu, said this in an exclusive interview with THISDAY yesterday, adding that the federal government's decision on the naira was a political masterstroke that would expose saboteurs of the economy and those milking the nation. "We are victims of corruption. Those who have illicit money on their hands that they cannot change should go and explain how they got the money and what they were doing with so much money in their homes," she added. She insisted that the currency redesign was in the best interest of the people even as she urged Nigerians not to allow themselves to be used as cannon fodders by unscrupulous politicians by going on the streets to protest. "Buhari is finally living up to the expectation of Nigerians by living up to his promise to fight corruption. People should not protest; the currency change

is in our interest,” she added. According to Ojikutu who was the Deputy to Chief Michael Otedola as governor from 1992 to 1993, said although Buhari was starting the war against corruption a little late, the latest move would clean the endemic corruption killing the country.

APC PCC Commends CBN over Deadline Extension Also, the Presidential Campaign Council (PCC) of the All Progressives Congress (APC) has commended the CBN for extending the deadline. APC PCC Director, Media and Publicity, Mr. Bayo Onanuga in a statement issued yesterday, said the extension would enable Nigerians especially those in rural and remote areas to have more time to change their old notes and avert the panic that would have followed. The campaign also commended the presidential candidate of the party, Bola Tinubu for his forthrightness in addressing the concerns of Nigerians at his campaign rally in Abeokuta last week. It said Tinubu didn't take the easy road by shying away from what would have caused serious inconvenience for our teeming masses. The ruling party said Tinubu showed leadership and compassion for the welfare of Nigerians, at the most appropriate time. Onanuga said: "We want to commend the CBN Governor, Mr. Godwin Emefiele for listening to the voice of well-meaning Nigerians on the exigency of extending the deadline for change of old N200, N500 and N1000 naira notes to the new ones. “Following difficulties experienced by Nigerians across the country from getting the new notes via ATMs and over the counter from banks, many Nigerians especially requested for an extension of the 31 January, 2023 deadline. We welcome the 10 day extension of the deadline and the additional seven days of grace." Onanuga also commended Buhari for approving the extension and for his leadership and statesmanship.

NUPRC MOVES TO END INACCURATE ACCOUNTING FOR NIGERIA’S OIL, GAS PRODUCTION generation for the country. He stressed that accurate accounting of production in the sector was critical in view of its economic significance as the country’s major foreign exchange earner. The NUPRC boss explained that the focus of the agency included business continuity and low cost of production, accurate measurement and timely payment of royalty, uninterrupted supply of crude oil and gas as well as safety of the environment. “We understand the importance of oil and gas production to this nation, over 200 million Nigerians depend on what accrue from this production. “So, it’s very important for every one of us to understand how to reconcile Production and give proper accounting in every area from end to end across the hydrocarbons value chain,” he stated. In his remarks, the Deputy Manager, Crude Oil Accounting, Crude Oil Terminal Operation, Abdulrahman Idris, explained that the upstream sector as defined by Section 318 of the PIA 2021 covers exploration, production and operations of crude oil and natural gas. “Our major focus is on business continuity and low cost of production, accurate

measurement and timely payment of royalty revenue security to government. “We also focus on uninterrupted supply of crude oil and natural gas to domestic market for energy security of the nation, including safety, health and environment,” he said. He added that the PIA 2021 also mandates the NUPRC to ensure end-to-end production accounting and certification from well head to terminal and allocates petroleum production quotas locally in conjunction with other relevant agencies of government. According to him, section 241 of the PIA provides that there shall be a levy upon the profits of any company engaged in upstream petroleum operations in relation to crude oil and a tax to be known as hydrocarbon tax which shall be charged and assessed. “Section 262(1) provides that subject to this Act in relation to any accounting period, all revenue of a company for that period shall be the value of any chargeable oil adjusted to the measurement points. “This shall be based on the proceeds of chargeable oil sold by the company, and value of all chargeable oil disposed by the company,” he stated.

T H I S D AY • MONDAY, JANUARY 30, 2023

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

PRESIDENT BUHARI RECEIVES KANO GOV GANDUJE AND DELEGATION... L-R: Sen Kabiru Gaya; Sen Barau Jibrin; President Muhammadu Buhari; Kano State Governor, Dr. Abdullahi Umar Ganduje; House Leader, Rt. Hon Alhassan Doguwa; Kano State House of Assembly Speaker, Rt. Hon. Hamisu Ibrahim Chidari, and others during an audience with Kano State Governor and his delegation in Daura Katsina State...yesterday SUNDAY AGHAEZE

FG: Nigeria Has 4.4m Metric Tons of Millets’ Shortfall Michael Olugbode in Abuja The federal government has lamented the inability of the country to produce enough millets to meet the needs of Nigeria. It disclosed that there was a shortfall of 4.4 million metric

tons in the production of the crop. Speaking at the weekend at the Millet Food Festival 2023, organised by the Indian High in Nigeria, the Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar said: “Presently, millet

Gbajabiamila Mourns as Container Kills Eight in Surulere Calls for restriction of trucks to Ojuelegba under bridge passage Udora Orizu in Abuja and Rebecca Ejifoma in Lagos The Speaker of the House of Representatives, Femi Gbajabiamila has described as unfortunate and sad, the killing of eight persons by a container in the Ojuelegba area of Surulere, Lagos, yesterday. Gbajabiamila said he received the news of the falling of the 20-feet container on a commercial minibus, popularly known as Korope, with indignation and was pained that innocent people lost their lives in such a manner. While lauding the efforts of the officials of the Lagos State Emergency Management Agency (LASEMA), FRSC, Police and others in evacuating the victims and rescuing one person, Gbajabiamila called for immediate temporary installation of barriers as the case on Oba Akran - computer village, Ikeja to prevent trailers from using the bridge. He sent his heartfelt condolences to the families of the victims, the people of his constituency, Surulere, and the Lagos State Government. "I was sad and shocked at the news of the killing of the eight innocent people by a container. I became more brokenhearted when I saw the gory images of the incident. This is unfortunate and unacceptable. This is not the first time such incident is happening in Lagos. I, therefore, call for immediate temporary installation of barriers as the case on Oba Akran - computer village, Ikeja

to prevent trailers from using the bridge and compelled to use the under bridge alternatively to avert future occurrences. It is unacceptable for people to die in such a way at same spot multiple times. "Such an unfortunate incident was one of the reasons why i sponsored the Federal Highway (Amendment) Bill which amongst other things provided for latching of containers and access to container trucks on overhead bridges at only restricted hours, and stiffer penalties for those that kill innocent Nigerians on the road." According to the Permanent Secretary of the Lagos State Emergency Management Agency (LASEMA), Dr. Olufemi Oke-Osanyintolu, investigation revealed that the bus was picking up passengers when the truck lost control and fell over the side of the bridge. "After suspending the container load with the aid of the agency’s forklift and cutting off the top of the bus with light rescue equipment, a single adult woman was extricated alive and taken to the trauma centre," he added. Police officers alongside road users gathered at the scene to salvage the situation. The agency’s heavy-duty Goliath, ambulance and teams from Onipanu and Cappa were also on ground alongside, the Lagos state fire service, Federal Fire service, the Lagos State Traffic Management Authority (LASTMA) and the Nigeria police to assist.

production in Nigeria has not met the national demand and it is attributed to low productivity of the crop. “Our national demand for millet as at 2022 was 6.4 million metric tons while our national production is 2.0 million metric tons. This low productivity could be caused by low potential of the crop varieties, application of poor agronomic practices, depleted soil, climate change or aggregation of these factors.” He added: “The ministry is in dire need to improve the productivity of the crop so as to enhance farmers’ income, attract more youth to millet cultivation, meet our food and industrial demand and continue to the growth of the Gross Domestic Product (GDP). “This event is as well to re-awaken the conscience of Nigeria millet farmers to adopt

Good Agronomic Practices (GAP) to improve the livelihood of farmers and GDP of Nigeria.” He insisted that the concept of the Nigeria Millet Initiative was a good one since farmers would be supported to produce millet with local content as organic fertilisers thereby reducing the cost of production and increasing productivity. Also speaking at the occasion, the Indian High Commissioner to Nigeria, Mr. Shri Balasubramanian revealed that his country was willing to collaborate with Nigeria to improve millets’ production and ensure that more meals from the crops get on the table of many Nigerians. The High Commission of India in Abuja organised the event in collaboration with Niger State as a part of Nigeria Millet Initiative.

The Etsu Nupe and Chairman of the Nigeria Millet Initiative, Dr. Yahaya Abubaker; Alhaji Ahmed Ibrahim Matane, Secretary to the Government of Niger State; Abubakar Abdullahi, Director Federal Department of Agriculture, Nigeria, Several Ambassadors, Traditional Rulers, among other dignitaries participated in the event. In his brief remarks, the High Commissioner said the United Nations General Assembly had declared 2023 as the International Year of Millets and this was proposed by India and supported by over 70 nations. He said the International Year of Millets was to provide a unique opportunity to increase global production, ensure efficient processing and consumption, promote a better

utilisation of crop rotations, and encourage better connectivity throughout food systems to promote millets as a key component of the food basket. He noted that: “Millets are among the first plants to be domesticated and are considered "nutri-cereals" due to their high nutritional content. They have served as a traditional staple for hundreds of millions of people in Sub-Saharan Africa and Asia for 7000 years, and are now cultivated across the world.” At the occasion, several restaurants put up their stalls and served food (prepared with millets) to the participants to promote the millets. Several exhibitions from IITA, ICRISAT, Niger State, Farmers Association of Nigeria and Nigerian Export Promotion Council also participated in the event.

FERMA Partners US Firm, Seeks to Cut Cost of Roads Maintenance Company to establish production plant in Nigeria

Emmanuel Addeh in Abuja The Federal Roads Maintenance Agency (FERMA) has said with the collaboration between the organisation and a United States firm, Base Seal international, the huge cost of roads repairs could be reduced markedly. Speaking when the Chief Executive Officer of the company, Danny Bowers, visited him in his Abuja office, the Managing Director of FERMA, Nurudeen Rafindadi, noted that the new introduction also delivers superior performance when compared with stonebased or laterite materials. He wondered why Nigeria had not deployed the use of the road maintenance material before now despite scoring a pass mark with the National Council on Works and the payment evaluation unit of the ministry. “What intrigued me was why we were not quick in

trying to start to use it. What strikes me is the kind of longevity, the fact that it has the ability to replace the use of stone base or laterite in road,” he noted. Describing base seal as revolutionary, he explained that it was far simpler to use than other alternatives and also has the advantage of saving cost. “This revolutionises cost saving measures in road construction,” he noted. Underscoring the need to explore cheaper and more effective road maintenance additives, Rafindadi noted that the agency’s allocation remained at best about 10 per cent of the entire budget of the road sector. “I think this a big advantage for small budget players like us and therefore I would say it again to members of staff of FERMA that this is something that will impact the ability of the agency to maintain road

sustainably. “We have 36,000 of federal roads alone and we have in total about 200,000km of all roads. FERMA has progressed steadily in the last few years to intervening and repairing about 5,000km annually,” he added. Expressing delight at the visit of Bowers and the firm’s representative in Africa, Mr. Ike Onyiuke, the FERMA managing director said the collaboration was helping to reduce the cost of transporting lateral or stone-base to construction sites. He explained that although the agency cannot solely determine the establishment of a base seal production plant in the country, but as a significant player in the sector, it is committed to using the product. Bowers, in his remarks, stated that he was happy to see the use of the product in road construction in the country and thanked FERMA for adopting it. "Base seal has observed the

successful adaptation of BS-100 chemical as an alternative to stone-base for projects executed by FERMA. We are encouraged and pleased to partner with the agency. “Base seal will be supplied to Nigeria at an affordable and economical cost and we will also foster the establishment of production in Nigeria," he stressed. Earlier, a documentary of the progress report on the usage of Base Seal (BS-100) in soil stabilisation during road rehabilitation and construction was viewed by all those that were present at the event. The firm said the liquid chemical was developed to penetrate and create hard resilient pavement layers and cement loose materials on the road. It was learnt that FERMA had begun the use of base seal on road constructions in Katsina, Sokoto, Ekiti, Edo, Niger and Borno.

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T H I S D AY • MONDAY, JANUARY 30, 2023

NEWS

CASH SWAP PROGRAMME… Oﬃcials of CBN coordinating banking agents participating in the cash swap programme in Port Harcourt...yesterday

Use Your PVCs to Vote Out APC, Saraki Tells Nigerians Hammed Shittu in Ilorin Former President of the Senate, Dr. Bukola Saraki at the weekend berated the ruling All Progressives Congress(APC) in the country for allegedly inflicting, “untold hardship on Nigerians due to scarcity of fuel, high cost of food items, poverty and insecurity.” He, however urged voters to use their permanent voter’s cards (PVCs) to vote out the APC and their candidates in the forthcoming general election. Saraki, who spoke at Malete in Moro local government council of Kwara State, during his ongoing consultations with leaders and stakeholders of the PDP in Kwara North Senatorial ahead of the elections, argued that the APC-led federal and state governments had failed Nigerians and should be rejected by voting against them during the polls.

He lamented the state of the nation, saying the current situation of things in the country was a manifestation of lack of capacity and failure of the APC government, both at federal and state levels. He said: "Imagine what Nigerians continue to suffer daily. Kidnapping in south-west, massive oil theft in south-south, banditry in north-west, insurgency in the north-east, senseless killings in north central and ethnic agitation in the south-east. Nowhere is safe. "Indeed, the APC has failed the people of Nigeria. In the last few months, the masses have been experiencing untold hardship due to scarcity of fuel, high cost of food items, poverty and insecurity. No one who really loves Nigeria will vote APC again. "Don't reward failure. APC has failed, we cannot reward them by voting for them again."

Oyo Govt, France Sign MoU on Education, Health Devt Kemi Olaitan in Ibadan The Oyo State government has signed a twin Memorandum of Understanding (MoU) with the French Government to promote a new healthcare initiative and the teaching of French language in the state. Governor Seyi Makinde, who spoke after the signing of the MoU, held at Governor's Office, Agodi, Ibadan, where the French government was represented by the French Ambassador to Nigeria, Mrs. Emmanuelle Blatmann, said the relationship would help the state in area of commerce, business, labour and education. He explained that despite the popularity and wide usage of English in Nigeria, it was obvious that French remains a major language of international relations capable of boosting commerce, labour, growth and development. The MoU is predicated on a €55 million loan granted by the French government to Oyo State and would be used for the upgrading of Adeoyo State Hospital and other general hospitals across the geopolitical zones of the state. The governor while speaking

at the MoU Signing ceremony, said, “We are here for a twopronged engagement, and the entire state is excited because the first agreement, which is on the initiative for health care delivery in Oyo State, is heartwarming. "In 2019, I campaigned on four major pillars, which are health, education, security, and expansion of our economy. Now, the initiative is unfolding before us. “Again, on the other side of the MoU, Education is also tied into a major pillar for us, which is crucial. So, we thank you for supporting us. Regarding the commercial agreement on the health care initiative, the Honourable Attorney-General already gave out the data on concessionary loans. "This agreement we just signed, and we look forward to the agribusiness side of it. The AG has said the loan is in 40 years maturity, which will be a long journey. So, I really want to thank you for this on behalf of the people of Oyo State. “People may wonder how we could get such a low-interest loan facility - 0.009. I don’t think we can have it better anywhere in the world. Continued online

Saraki, also charged the people of Kwara North senatorial district to support and vote for the PDP's governorship candidate and other flagbearers of the party in the February 25 and March 11 elections. He said voting Alhaji Shuaib Yaman Abdullahi of the PDP as the next governor remains the best option for the people of Kwara North and the state. According to him, "no other

candidate can assure Kwara North of better benefits and development than Abdullahi who hails from the zone and have a better understanding of their plights and expectations." He added, "as it is, this is the time and opportunity for Kwara North to also govern the state, and the PDP having observed that, zoned its governorship ticket to the north. Fortunately, the PDP

fielded a good candidate. "You should therefore ensure that no vote is cast for any other party, other than the PDP that has fielded your son as its governorship candidate." Saraki who described the people of Kwara North as trust worthy people, said having fulfilled his promise and that of the party to ensure the district was given the opportunity to produce the next

governor of the state, it was the people's turn to reciprocate by voting for the party and their son. He further assured that if elected, the PDP would work for the interest of the people and the State. He thanked members and supporters of the PDP in Kwara State for believing and staying loyal with the party since the outcome of the 2019 general elections.

Tinubu at Town Hall in Edo, Presents His Blueprint Adibe Emenyonu in Benin City The presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu, yesterday took his campaign to Benin City, capital of Edo State where he held a town hall meeting with political leaders, social groups, professionals from various sectors. During the meeting, Tinubu also presented his programmes to his audience and called for support for his party in all the elections beginning from February 25th. At the palace of the Oba of Benin, His Majesty, Oba Ewuare II in company of traditional rulers from Edo Central and Edo North Senatorial districts, the APC presidential candidate commended President Muhammadu Buhari for agreeing to the extension of the deadline for the redesigned naira notes, adding that his appeal for the extension, contributed to his coming late for the meeting.

He also said he would fight for restitution on the artefacts taken away from the city and part of his programmes if he wins would be to explore the rich mineral resources in the state, particularly gas for export to European market. According to him, “My coming late is not intentional, it is because of the national politics, some of our cousins, our wives selling garden eggs, carrots, roasted corn, they need money and they need naira. “In the process if naira is cancelled the way it is and we fail to intervene, we have failed in our duties. We have been on this for three to four days and suddenly today when the president said okay out of great respect he will consider our request for extension we were happy. I was running back and forth on this and calling him so that is what we have been doing, hopefully, even though we didn’t get all that we wanted, we got an extension by a number of days.”

On his ambition, Tinubu said “You have been a great ruler, I saw you spoke your mind about unemployment of youths, Your Majesty, count on me, bless me we will be able to achieve great employment for our youths. “You talked about the education of our children, it is in our work plan and I can tell you as I am standing here the programme is there, education reform will happen. We will establish students’ loans and we will minimise the interest rate and we stagger their payments and give parents relief, they don’t have to be slaves to the circumstances.” Speaking about his other development plans, he said “Benin is the economic centre of this region, rich in resources, rich in gas.” For the artefacts, Tinubu said he would support the construction of a museum to house them and would continue to call for restitution from

other foreign countries. “I am here to seek your prayers, I fought for and suffered for democracy in this country, I made sacrifices. When we started these eight years, it is only normal to look forward to succession and I told President Buhari that I am running and I am running nowhere, I am running for the villa when you move out, I want to occupy the place therefore I need your blessings, that blessing is important to me.” On his part, Oba Ewuare II appreciated Tinubu’s planned support for the Museum which he said would help tourism and research. He also commended the state government for its support for the museum project. At the town hall meeting, Tinubu said he would ensure total deregulation of the oil sector so that market forces would determine the price of oil products.

Group Sues Buhari’s Aide over Alleged Fraud in SDG Charges president to restore sanity in agency Emameh Gabriel in Abuja A group, The Incorporate Trustees of Project Twenty Million Club, has dragged the Senior Special Assistant to President Muhammadu Buhari on Sustainable Development Goals, Mrs. Adejoke OrelopeAdefulire, to court over allegations of fraud and contract scam. The group also urged the president to purge the SDG of corruption and urgently restore sanity and the integrity of the agency. In a Suit NO: FHC/ ABJ/

CS/ 1395/ 2022 made available to THISDAY, which also has the Attorney General of Federation and the Chairman of the Economic and Financial Crime Commission (EFCC) as second and third defenders, the group asked the court to compel the AttorneyGeneral of the Federation and EFCC to investigate some alleged infractions in the agency. This, however, may not be unconnected to allegations of diversion of public funds and various malfeasance in the financial activities of the agency.

The group said it was compelled to investigate the development as it was becoming worrisome and "may put the agency in bad light before the international communities and funding partners, who have pulled out in many countries over such incidents.” It said on Friday 27th January, 2023, the Suit which was slated for hearing could not go on as the 2nd and 3rd Defendants were absent and were not legally represented warranting the court to adjourn the matter to Monday 13th March, 2023 for Hearing.

It was believed that the move instituted by the plaintiffs would achieve the purpose of setting in motion Institutional investigation into the activities of SDG under Mrs Orelope-Adefulire as against the present state of affairs. "The activities of the agency has continued to be mired in large scale corruption allegations, without the public knowing about the final outcome. President Muhammadu Buhari must purge the SDG of corruption and urgently restore sanity and the integrity of the agency", the group appealed.

MONDAY JANUARY 30, 2023 • T H I S D AY

MONDAY, JANUARY 30, 2023 • T H I S D AY

NEWS

PRAYER RALLY... Governor of Enugu State and candidate of the Peoples Democratic Party (PDP) for Enugu North Senatorial District, Rt. Hon. Ifeanyi Ugwuanyi (right) acknowledging cheers from his supporters when teachers and students from Enugu North Senatorial District under the Post Primary Schools Management Board (PPSMP), when they held a prayer rally for the victory of the governor and other PDP candidates at the polls, at the newly constructed Township Stadium, Nsukka...yesterday

Make Process of Cash Deposit Easier for Nigerians, CBN Charges Banks PDP chieftain hails CBN, Buhari over cash swap deadline extension Blessing Ibunge in Port Harcourt, Yinka Kolawole in Osogbo, Hammed Shittu in Ilorin and Sylvester Idowu in Warri The Central Bank of Nigeria (CBN) has called on commercial banks across the country to make process of cash deposit easier for Nigerians. The Branch Controller of CBN in Port Harcourt, Mr Maxwell Okafor, made the call yesterday, during a cash swap programme held at Access Bank, Rumukwurisi along Aba Road and Polaris Bank in Igwuruta, Ikwerre Local Government Area of Rivers State. The CBN officials aided in coordinating banking agents that participated in the cash swap programme. Okafor, who noted that the cash swap process was slow, disclosed that the CBN has always made sure that the banks have the needed money to make their work very easy. He regretted that hoarding which should have been ruled out of the process after their last warnings to the banks, seems to be taking place. The CBN Port Harcourt branch controller promised to continue to monitor the process to ensure that the right thing was done without putting the people through pains to withdraw or deposit their money. "The exercise going on here is a direct cash swap for Nigerians, especially those that do not have bank accounts. The process is going to last till the last day of the naira exchange. "I am very satisfied, the enthusiasm is there, the interest is there. There is a massive response of the people at short notice and many of them mentioned that they are going to call their parents in the villages. “In the past two days, we have made sure that banks get

enough money. Some of them took money to Bonny Island, we were there on Friday to monitor it, all the banks in the area now have cash, all there ATMs are up and running and they paying very well. "So, we will also monitor the exercise much as possible in other riverine areas of the state. As we speak, CBN is ready to disburse alot of cash to banks even today. Banks are free to come today, our office is open as we speak. They can come in to collect and deposit their cash,” he added. He also said the central bank was doing everything to checkmate the hoarding of the currency. Meanwhile, in Kwara State, following the extension of naira cash swap deadline, the CBN Ilorin branch, at the weekend assured residents of the state that no one would be denied of having access to the new naira bank notes in the state. The apex bank said it has made available enough new naira notes to the commercial banks in the state in order to be distributed to their ATMs for residents of the state. The Ilorin branch controller of CBN, Mr. Lamidi Najim Olawale stated this in Ilorin, during the monitoring of activities by management of the CBN. Among banks monitored were the United Bank for Africa Plc, Zenith Bank and Access Bank. Olawale, however said the CBN had put all measures on ground that would assist residents of the state to have access to the new bank notes. He said that, "The CBN is asking Nigerians to quickly use the opportunity of the remaining days to exchange their old naira notes to new ones." Olawale added, "The newly redesigned naira notes were introduced by the CBN to control the amount of money in circulation, check counterfeiting,

lower inflation rate and discourage ransom payment. "Apart from exchanging the new notes in banks, the apex bank says it has also made available cash swap to allow those in the rural communities swap their old currency for new ones". Residents of the state lauded the CBN for extending the deadline. Some of the residents who spoke with journalists yesterday, said the gesture would go a long way in helping them to return their old naira notes and also have access to the new ones. They also decried the limited withdrawals at ATMs. In a related development, in Osun State, the CBN assured Nigerians that it would address the issue of scarcity of new notes as to meet the people's, yearning and aspirations. Speaking during the sensitisation in some Osun

communities at the weekend, the CBN Deputy Director, Dr. Adedeji Adetona opined that the management of the central bank would do everything to address all issues relating to the scarcity. The communities visited during the sensitisation comprises of Ikirun, IlaOrangun, Okuku, Ijabe, Oke-Ila, Iree, Oraigbomina, Iragbiji, Agbaa and Konta. Other places visited for road show included Ibokun, Ijesha, Ere Ijesha, Erin Ijesha, Ijebu Ijesha, Ipetu Ijesha,Ikeji-Arakeji, Ijesha ,Ilesha Adetona, also advised Nigerians to visit nearest banks in their communities to deposit all old denominations ranging from N200, N500, N1,000 notes. He equally asked them to visit SANEF Agents to deposit the old notes in order to meet the deadline of February 10. However, speaking with

journalists, a resident, Mrs. Yetunde Adebiyi Ikirun said non availability of new notes might make it impossible to meet up with the deadline set by the CBN. She explained that the commercial banks in the state have not made the new notes available to customers in the state. Also speaking, Mrs. Awe Ruth in Ila-Orangun lamented that banks were not paying customers with the new notes. In Delta State, a gubernatorial aspirant on the platform of People's Democratic Party (PDP), Chief Sunny Onuesoke yesterday commended President Muhammadu Buhari for giving approval to the Governor of Central Bank of Nigeria (CBN) Godwin Emiefele for the extension of the deadline for the old currency swap. He recalled that there had been pressure from

many Nigerians and groups concerning the initial January 31, 2023 deadline for phasing out the old N200, N500 and N1000 banknotes. Onuesoke said Nigerians could now heave a sigh of relief with Buhari's approval of the extension of the deadline to February 10th, 2023. Onuesoke disclosed that the window would enable Nigerians especially those in rural and remote areas to have more time to change their old notes and avert the panic that would have followed. The PDP Chieftain however advised the CBN Governor, Godwin Emefiele to put strict measures in place in the commercial banks to avert a situation where some money bags would buy off the available new currency in bulk at the expense of the masses, thereby creating further scarcity as experienced recently.

ACF Urges FG to Investigate Killing of Pastoralists in Nasarawa John Shiklam in Kaduna

The Arewa Consultative Forum (ACF), has called on the federal government to investigate the recent killing of over 50 pastoralists and butchers in Ekye Development Area, Doma Local Government Area of Nasarawa State. The forum, which made the call in a statement yesterday by its Secretary General, Murtala Aliyu, recalled that on January 25, 2023, about 51 herdsmen were reported killed in Ekye, allegedly in an airstrike by a drone. The ACF, while condemning the killings, said “in a serious country, the death of one person is enough to attract the

attention and intervention of the government.” The statement, however, commended the Nasarawa State Government for its intervention and for giving medical attention and support to survivors and the victims’ families. “To our knowledge only government has the power to deploy armed drones. The circumstances surrounding the killing of pastoralists, who went to Makurdi, the Benue State capital to retrieve 1250 impounded cattle from the Benue Livestock guards after paying a fine of N29 million to guards. “Sources told the ACF that drone strike happened while the livestock were being

offloaded after the owners were forced to take back their cattle in trucks from Makurdi. “This incident came barely six months after a similar incident in which hundreds of livestock were killed when a helicopter gunship belonging to the Nigerian Air force from the Makurdi Base Operation carried out the strike, killing and wounding the animals and some herders in Awe also in Nasarawa State,” the statement said. ACF lamented that, “In a serious country, the death of one person is enough to attract the attention and intervention of the government. “The Nigerian air space is managed by the federal government through the

Nigerian Airspace Management Authority (NAMA). “So we expect the federal government to immediately fish out the perpetrators of this dastardly act, whoever they are to face the law. We, however, wish to commend the Nasarawa State Government for the intervention they made so far in giving medical attention and support to survivors and the victims’ family. “The ACF condemns this unwarranted killing and extends its condolences to the families of the deceased and the Government of Nasarawa state,” the forum said, even as it called for adequate compensation for the families of the victims.

MONDAY, JANUARY 30, 2023 • T H I S D AY

NEWS

LAGOS RICE MILL INAUGURATION... L-R: Managing Director, Lagos Commodities and Futures Exchange, Mr Akinsola Akeredolu-Ale; Director General, Securities and Exchange Commission (SEC), Mr Lamido Yuguda; Commissioner for Agriculture, Lagos State, Ms Ruth Abimbola Olusanya; Commissioner for Finance, Lagos, Dr Rabiu Olowo; and the Special Adviser to Governor Sanwo-Olu on Rice Mill Initiative, Dr Oluwarotimi Omotola Fashola, at the inauguration of Lagos Rice Mill, Imota Lagos...recently

Former Osun Governor, Oyinlola, to Sue IG over Non-release of Report on MTN Alleges cover-up in perversion of justice case against former A'Court president, Tinubu, others Alex Enumah in Abuja A former Governor of Osun State, Mr. Olagunsoye Oyinlola has threatened to institute legal action against the Inspector General (IG) of Police, for refusing to release the IG Monitoring Team Report in respect of his petition against MTN Nigeria and others. Oyinlola in a letter dated January 27, 2023, addressed to the Inspector General of Police, said he had no other choice than to commence the legal action as the refusal of the force to release the said report creates the impression of a cover up. The expected report which dates as far back as 2013, bordered on investigation of a case of conspiracy, forgery and perversion of the course of justice by MTN Nigeria Ltd. According to Oyinlola, the police after its investigation had advised that MTN Nigeria be prosecuted in line with Section 167(8) of the Evidence Act, for an attempt to suppress evidence in the case. Oyinlola had in his petition to the police in 2012, alleged of an unholy relationship between then Justice Ayo Salami and some chieftains of the Action Congress of Nigeria (ACN) to pervert the course of justice when Justice Salami presided at the Osun State governorship election petition tribunal involving the ACN and the People's Democratic Party (PDP). He had claimed that there was a telephone interaction between and among ACN chieftains, its lawyers, Justice Ayo Salami (now retired) and his bosom friend, Tunji Ijaiya, which MTN desperately tried to cover up from the NJC's Special Investigative Panel. Amongst the phone numbers the petitioner believed to have held discussions with the then presiding Justice of the election tribunal were 08034240000 and 0802240104, "both numbers, I am certain are/were being used by Bola Ahmed Tinubu. The latter is registered in the name of MTN Director, Tunde Folawiyo. The former is registered in the name of Gbadegesin Ademola, who is Tinubu's Personal Assistant. "MTN officials. All four

individuals ought to be invited by the police to disclose at what point, ownership of the two subscriber lines changed," Oyinlola argued. He added that, Bola Ahmed Tinubu, Gbadegesin Ademola (Tinubu's aide), Justice Ayo Salami, Tunde Folawiyo, Tunji Ijaiya and Rotimi Odusola must appear before the police, "to narrate their roles in the grand scheme to pervert the course of justice." However, Oyinlola claimed that the police has since 2013 failed to supply him with the said report after several requests. The former governor in the January 27, letter titled: ‘Re: Protest at the Refusal of the Nigerian Police Force to Release Report of Investigation Carried Out By IGP Monitoring Team in Respect of Petitions against MTN Nigeria Communications, Certain Staff of The Nigerian Communications Commission and One Simon Egede (REF: CR3000/IGPSEC/ ABJ/VOL. 103/603) and signed by his aide, Mr Adeolu Oyinlola stated that, "Given that the police establishment is unwilling to release the said report for reasons

we find difficult to fathom, we are now left with no choice than to approach the courts for intervention." Before the January 27 letter, the petitioners had written similar protest letters dated January 4 and 26, 2023, and December 20, 2022, wherein they had registered their "surprise and disappointment at the refusal of the police to release to us the report of investigation carried out by the IGP Monitoring Team in respect of petitions" written by Prince Olagunsoye

Oyinlola. "Having written more than 10 letters requesting the release of the aforementioned report in the intervening period of eight years (and counting) acknowledged copies of four of which letters are attached to this correspondence, we have good reason to believe that a cover-up has patently been hatched and is being overtly executed by certain persons in the Nigerian Police Force", the letter dated December 20, 2022 read in part.

Oyinlola, who claimed to be the only witness during the investigation submitted that there was a manipulation of the Call Detail Records (CDRs) forwarded to the police by MTN at the behest of the National Judicial Council (NJC) sometime in 2013 which necessitated the initial complaint. According to him, "only the Originating (Outgoing) components were made available, while the Terminating (Incoming) components were witheld in order

to conceal the identity of callers. "The implication of the foregoing is that MTN can (and did) manipulate the Call Detail Records of persons being investigated by law enforcement and security agencies," he added. While the letter appealed to the police "to be conscious of the verdict of history and mindful of the judgment of posterity; it implored the IG to use his good office "to cause the release of the report in question to us without further delay."

NITDA Confirms Creditswitch as NDPR Complain

Creditswitch, one of the leading information technology companies providing cuttingedge value-added services has announced that it has achieved compliance status in accordance with the Nigeria Data Protection Regulation (NDPR) for implementing all requirements to protect the privacy rights of its clients and customers. This was disclosed in a statement yesterday. It noted that in recent years,

“the world has seen a significant increase in data penetration, resulting in an increase in the processing of personal data as a fundamental aspect of various business activities. “As a result, comprehensive data governance frameworks are imperative for organisations that control or process personal data.” NDPR makes provisions for the rights of data subjects, the obligations of data controllers and data processors, transfer

of data to a foreign territory amongst others. To ensure compliance with the requirements, Creditswitch subjected itself to a rigorous audit exercise from a Data Protection Compliance Organisation (DPCO). Speaking at the end of the audit exercise in 2022, Head Legal & IT Governance at Creditswitch, Biobele Lawson, was quoted to have said, “The NDPR status demonstrates our commitment to ensuring the protection of

customer data. This is a major win for the entire team, as we worked hard to achieve this.” “We remain committed to improving data protection to meet our privacy responsibilities to our clients and customers,” Creditswitch’s Chief Information Officer, Michael Elue said. Creditswitch has put in place standard measures that ensure continuous protection of customers’ data and the assurance of their privacy.

Sponsored Protests Cannot Change Your Status as Sacked Governor, APC Taunts Adeleke

Yinka Kolawole in Osogbo.

The Osun State chapter of the All Progressives Congress (APC) yesterday told Senator Ademola Adeleke to leave up to the reality of his last Friday's sack as the governor of the state by the virtue of the explicit judgement of the state governorship Election Petition Tribunal. According to a statement issued by the Acting State Chairman of the APC, Sooko Tajudeen Lawal, in Osogbo yesterday, the alleged sponsored protests by both Adeleke and his party, the Peoples Democratic Party (PDP), “which were shamelessly staged in some of the states yesterday could only worsen their case instead of adding positive value to it at the appelate court.”

Lawal stated that it was strange and unbelievable that Adeleke and his party could choose the option of denigrating the judiciary simply because the tribunal judgement did not go their way. The state acting APC chairman said it was saddening that, “the sacked Governor Adeleke could be applauding and commending his sponsored protesters who went out to inflict inconvenience and violence on the inhabitants of the state under the guise of protesting the tribunal judgement that was not in the favour of the PDP candidate.” Lawal hinted that his appraisal, “of the Adeleke-sponsored protests was an unmistakable conclusion that the sacked governor and his party are bad losers who are thinking that they can whip up the

undeserved sentiment of the people in order to curry unmerited favour from the court of the public.” The state acting APC chairman further alleged that the “Adeleke sponsored protests were without any effect as there is no nexus between justice and sentiment because the law will always take its cause without the heavens coming down.” He reminded the governor that, “it should dawn on him by now that he remains a sacked governor until the contrary is stated by a court of competent jurisdiction which is the Court of Appeal in this circumstance.” Lawal stated that no matter the magnitude of Adeleke's sponsored protests and vilification and denigration of the judiciary, his current status as a sacked

governor has the stamp of the law of the land. The state acting APC chairman stated that whoever had recommended the protests for Adeleke to make up for his terrible loss at the tribunal was bereft of qualitative advice needed for someone like him who has crashed from his fraudulent political height that was witnessed at the tribunal on Friday. In his words: "One needs not be a soothsayer to observe and conclude that you have lost this political battle and there is no known political short cut for you to get out of this self-inflicted political conundrum which has irredeemably defied any known remedy. "I must expressly state here that it is still within the purview of

your fundamental human right to approach the Court of Appeal for redress instead of sponsoring violent protests in some states across the state. "Based on the Friday's tribunal judgement, it is absolutely illegal for Adeleke to be talking about any mandate as the authentic election results of the July 16, 2022 governorship election has expressly shown that the PDP candidate has no mandate to flaunt to talk less of claiming any. "It should be known that the incidence of over-voting, basis upon which Adeleke was purportedly declared the winner by the INEC as established by the tribunal, is nothing but unfair play which if left unturned is capable of setting a very bad precedent for our democracy.”

MONDAY, JANUARY 30, 2023 • T H I S D AY

NEWS

CLIMATE ACTION PROJECT… L-R: Federal Government Girls college student, Alimat Quadri; Chief Executive Oﬃcer (CEO) of Green Sahara Revolution, Mr. Suleiman Dikwa; Chief Executive Oﬃcer of Sterling one foundation, Mrs. Ibekwe KINGSLEY ADEBOYE Olapeju, and Federal Government Girls College student, Sokokaye Treasure, during the launch of the Sterling One Foundation Agroforestry for Climate Action project in Abuja...recently

Irabor Warns against Toxic Remarks over N132bn Debarment Allowance Says it takes resources to increase military’s fighting capacity Kingsley Nwezeh in Abuja The Chief of Defence Staff (CDS), Gen. Lucky Irabor, weekend, sought the understanding of retired military officers with regards to the outstanding N132 billion Security Debarment Allowance (SDA) for military retirees. Irabor made the call in Abuja at the 42nd Anniversary Dinner of the Nigerian Defence Academy (NDA) 28 Regular Course Welfare Association. Irabor cautioned the officers engaged in toxic and unpalatable remarks about the SDA to desist from misleading the junior ones, adding that the efforts of the government in that regard should be commended. "There are a few toxic commentaries that have been made which I believe are misrepresented and I think that those of us that are here hearing from me and those who actually know the right thing.

“While appreciating you for changing the orientation of those who have been passing those toxic comments, I need to also encourage that, perhaps, they need to go to their creator for forgiveness. “The reason I say this is, the policy that brought SDA into being was signed on Nov. 9, 2017 and the provisions made therein, caters for those who retired from that day onwards. “There are issues around policies generally, which certainly might not be the best but there will always be room for correction," he said. The defence chief noted that, “It took the magnanimity of the commander-in-chief, of course a representation that was made to him by the minister, and he was magnanimous enough to look at it again and made the approval that everyone who once served the military should be catered for. “I think that it is something that I believe is legendary and must be

commended rather than having to vilify those who are making effort to ensure that entitlements as enunciated by virtue of that approval are made,” he said. The defence chief affirmed that the resources at the disposal of the government must be taken into consideration in addition to the issue of military operations and issues surrounding its Table of Organisation and Equipment (TOE). “It takes resources to be able to bring our TOE to a reasonable level, to be able to increase the military’s fighting capacity,” he said, adding that, greater attention must be paid to ensure that the tools needed to be able to perform optimally should be given attention. “lt was not an easy thing to now muster a total of N132 billion just to pay at once because there are other commitments of government. Approval was given for it to be handled within the period of three to five years, which recently has

also been modified for it to be covered in three years. “So, if some of us that should know now go to incite a few others to now to want to take up some kinds of demonstration, that perhaps needs some form of reconsideration," he said, stressing that “the first tranche was made early this month, which of course we must continuously appreciate it and of course, the government for this feat. “So I will like to use this medium to appeal to us, especially on that matter, for it to be put to rest, believing and trusting those who are implementing to faithfully implement it." President Muhammadu Buhari, had in 2017, approved the payment to the military retirees,who exited the service before Nov. 9, 2017. The deceased military retirees, who were alive when the Manual of Financial Administration (MAFA) 2017 was signed, and

SERAP Urges Buhari to Probe Attack on Obi, Other Cases of Election-related Harassment Udora Orizu in Abuja

The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to direct the InspectorGeneral of Police Usman Baba to investigate reported attack on the Labour Party presidential candidate, Peter Obi, after a rally in Katsina state, and other cases of election-related intimidation, harassment and violence across the country. Obi was reportedly attacked after a rally in Katsina with heavy stones while on his way to the airport. The attack came on the heels of reported 339 incidents of electionrelated intimidation, harassment and violence across the country

in 2022. SERAP also urged Buhari to direct the IG and Attorney General of the Federation and Minister of Justice, Abubakar Malami to name and shame politicians and other perpetrators involved in violent attacks. SERAP further urged him to caution state governors to end reported suppression of campaigns by opposition parties within their states, and to ensure the security and safety of opposition candidates, members and supporters. In the letter dated January, 28, 2023, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation said, escalating cases of electionrelated intimidation, harassment,

and violence were fundamentally inconsistent with the principle of free and fair elections. According to SERAP, investigating and prosecuting such cases and bringing perpetrators to justice would stop further violence, facilitate free and fair elections, and encourage Nigerians to freely exercise their right to vote. The letter read in part, “The Nigerian Constitution 1999 (as amended), the Electoral Act, and the country’s international human rights obligations recognise as fundamental the right to participate in one’s government, and the free and fair elections that implement it. “We would be grateful if the recommended measures are taken within seven days of the receipt

and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest. “Election-related intimidation, harassment and violence are grave violations of the rights of Nigerians to participate in the democratic process and free and fair elections, as well as a range of other human rights. “Free and fair elections mean elections conducted under conditions that enable voters to cast their votes as they wish purely on their own accord without any threats, intimidation, harassment or violence before, during and after elections."

non-pensionable retirees, who retired before Nov. 9, 2017 but were only paid gratuities, are also to benefit. The Military Pensions Board (MPB) had explained that the SDA, was a function of 10 per cent of the retirees’ annual basic salary as at the time of retirement, multiplied by the number of years served in the services.

In his remarks, the President, 28 Regular Course Welfare Association, Rear Adm. Ndidi Agholor (rtd), who thanked God for making it possible for them to remain in good health and be able to reunite to celebrate, commended the federal government and the Ministry of Defence for being magnanimous in expanding the scope of SDA to cover all retired military personnel.

Olu of Warri Abolishes 'Omajaja' among Itsekiris Udora Orizu in Abuja The Ogiame Atuwatse III, the Olu of Warri, has abolished the Omajaja term from Itsekiris's vocabulary owing what he described as it's negative connotation over time. He made the declaration in a Royal Proclamation in a statement he personally endorsed as the Kingdom rolled out drums to celebrate its annual Praise day. He noted the palace would no longer make reference to the term, saying all Ìtsekírìs are now to be referred to as Omiwere, and that every Itsekiris's individual is freeborn. Ogiame added that the classification does not alter the law and manner of succession to the throne. He said, "All Ìtsekírìs are now to be referred to as Omiwere. The official palace approved symbol or logo for Omiwere will be the awerewere leaf. Those that wish to add something unique to represent them, are free to do so. The logo shall be worn with pride by all Omiwere. “Today, we move to make further clarifications to our existing society. These clarifications are not to make one feel inferior or superior to the other, but simply to establish identity and general order in our society.

"Ìtsekírìs are Omajaja, this is not to say we should remove slave from freeborn, because slaves no longer exist in our society. Both the Prince and Princesses, and the children of the Chiefs are Ìtsekírì children. Before now, they were all referred to as Omajaja. The term Omajaja, has come to take on a negative connotation overtime in our society. It is important to note that from today henceforth, I use my authority to abolish the word Omajaja from our vocabulary." Meanwhile, hundreds of Itsekiri sons and daughters on Saturday gathered at the Aghofen, Olu Palace church, Warri to give thanks to the Almighty God. The soul lifting event called "Annual Praise Day" was convened by the Olu of Warri, Ogiame Atuwatse III. The annual Praise and Thanksgiving day is a yearly event held by the Iwere Nation to give thanks to God for sustaining the Warri kingdom. Different gospel artistes and praise group gave ministration at the well-attended event. Among the artistes were: Ada Gold, Felix Ekenguda, Dero Ofoluwafo, Katy Jakes, Ruke Gure, Blossom Mene and Mairo Ese. Others were: Iwere Praise Choir, Ogono for Jesus, Revelation Band and among others.

MONDAY JANUARY 30, 2023 • T H I S D AY

IMAGES

T H I S D AY ˾ DAY ͱͮ˜ ͰͮͰͱ

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Chief Commercial Oﬃcer of United Nigeria Airline, Mr. Raphael Uchegbu; Executive Director of United Nigeria Airline, Osita Okonkwo; Chairman, United Nigeria Airlines, Prof. Obiora Okonkwo; and Director of Administration, Mr. Linus Awute; during the opening ceremony of the second annual management retreat of the airline in Abuja…recently PHOTO: KINGSLEY ADEBOYE

Beauty Business Consultant and Chief Executive Oﬃcer of COC Beauty School, Lagos, Ayo Bassey (centre), ﬂanked by award winners and best-in-class students at the 2023 COC Beauty School Graduation Ceremony held in Lagos…recently

Ekiti State Governor, Mr Biodun Oyebanji (right) with a cross section of state traditional rulers at the Special Stakeholders’ Engagement to commemorate the ﬁrst 100 days in oﬃce of the governor at Obafemi Awolowo Civic and Convention Centre in Ado-Ekiti…recently

L-R: Wife of celebrate, Mrs. Adebimpe Babatope; celebrate, Chief Ebenezer Babatope and Osun State Governor, Senator Ademola Adeleke, during the 80th birthday ceremony of Chief Babatope held at his residence in Ilesa, Osun State…recently

L-R: Marketing Manager, Shalina Healthcare Limited (SHL), Consumer Business India, Mr. Ashish Pateker; Head of Consumer Global Marketing, SHL, Dubai, Mr. Vievek Jain; Head of Regulatory, SHL, Emeka Adeoha; Head of Consumer Business, SHL, West Africa, Mr. Suresh Karuppiahsamy; third prize winner, Magdaline Mngohol Anthony; Brand Ambassador, Shaltoux, Zadok Aghalengbe; overall prize winner, Terver Freeman Terzungweh; Chief Commercial Oﬃcer, SHL, West Africa, Mr. Arun Raj; Brand Manager, Shaltoux, SHL, Mrs. Busayo Idowu; and Head of Brand Marketing, Mr. Sandeep Sahu, at the Shaltoux My Voice My Identity Online Music Contest prize presentation in Lagos…recently PHOTO: DAN UKANA

Lagos State Governor Babajide Sanwo-Olu (sixth left), and his Deputy, Dr. Obafemi Hamzat (sixth right) being endorsed by a cross-section of members of the National Association of Nigerian Students (NANS), Lagos State chapter, led by the Chairman, Olusesi Tolulope, during the students mega rally at the Mobolaji Johnson Arena, Onikan, Lagos…recently

MONDAY JANUARY 30, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY JANUARY 30, 2023

Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

M O N D AY D I S C O U R S E

Ogun as Tinubu’s Attack Base Adedayo Akinwale writes that Abeokuta, the Ogun State capital, now serves as the attack base of the Presidential ﬂag bearer of the All Progressives Congress, Asiwaju Bola Tinubu, as he recently protested against the decision of the federal government to swap the currency as well as the lingering fuel scarcity across the country

n less than a year, the presidential candidate of the All Progressives Congress (APC), Bola Tinubu have had the opportunity of coming hard on the powers that be that he perceived were against his ambition. Twice in one year, Tinubu had used Ogun State as a platform to send strongly worded messages to the government at the centre. In the wake of the APC primaries early in 2022, the former Lagos State Governor had in the course of soliciting for votes to emerge as APC presidential candidate at a meeting in Abeokuta told the gathering that it was his turn (Emi Lokan) to serve as the party’s flag bearer. Again, last Wednesday, Tinubu threw caution to the winds when he launched a series of attacks against the government of President Muhammadu Buhari over the lingering fuel crisis in the country and the decision of the Central Bank of Nigeria (CBN) to redesign the Naira. He didn’t stop at that, he said it was part of the plot to scuttle the forthcoming election and his expected victory. While it’s a known secret that the decision to redesign the Naira had the blessing of President Buhari, the lingering fuel crisis which started February 2022 appears to have defied logic which is an indication of the crass incompetence of the Minister of Petroleum and the President of the country. Nevertheless, the former Governor of Lagos state could not hold back his frustration during the APC presidential campaign held at the MKO Abiola stadium, Kuto, Abeokuta, Ogun State, where he expressed his displeasure about the fuel Scarcity and Naira redesign. Tinubu who spoke in Yoruba said: “They don’t want this election to hold. They want to scuttle it. Will you allow them? They have started coming up with the issue of ‘no fuel’. Don’t worry, if there is no fuel, we will trek to cast the vote. “If you like, increase the price of fuel, hide the fuel or change the ink on the naira notes, we will win the election. We will use our PVCs (permanent voter cards) to take over the government from them; if they like, let them say there is no fuel, we will trek there (polling booths). “They are full of mischief, they want to create a fuel crisis, they have started creating a fuel crisis, but, forget about it, put your mind at rest, I’m assuring you. I, Asiwaju will end fuel scarcity. “Let the price of fuel continue to increase, they are the ones that know where they are hoarding it. They are hoarding naira notes, they are hoarding fuel, we will vote and we will win. If you like, change the ink in the naira note, we will win the election, the opposition will be defeated.” Surprisingly, it appears there was a kind of oath between the APC presidential candidate and Ogun state. Recall that a few weeks to the presidential primary of the party held in June 2022, Tinubu launched a similar attack on his party when he categorically declared that it was his turn to run for President. “If not for me that stood behind Buhari, he wouldn’t have become the President. He tried the first time, he failed. The second time, he failed. The third, he failed. He even wept on national television and vowed never to contest again but I went to meet him in Kaduna and told him he will run again, I will stand by you and you will win, but you must not joke with Yorubas and he agreed,” he had said. One thing is clear, Tinubu doesn’t launch attacks without reason. Whenever he does, it’s based on intelligence at his disposal. Few days after his outburst in 2022 prior to the presidential primary of the party, the National Chairman

Tinubu

of the party, Senator Abdulahi Adamu, tried to impose the Senate President, Dr Ahmad Lawan, as the anointed candidate of the party, allegedly on the directive of President Buhari. This was resisted by all critical stakeholders as all the aspirants eventually went to the poll at the end of which Tinubu emerged victorious. Similarly, elder statesman, Tanko Yakassai, in a recent interview on TV, expressed doubt over Buhari’s support for the presidential candidate of the APC. According to him: “What I realise is that I’m not sure if Buhari is happy with the candidature of Tinubu. That is the issue. He is the APC because he is the President elected on the platform of the APC but is he committed to Tinubu’s presidency? I have my doubt. I don’t know (who the president is supporting) but I have not seen the commitment from him supporting the candidature of Tinubu in the APC. I’m not sure if it’s APC or not but definitely, the personality

of Tinubu doesn’t make him happy from my assessment of the situation”. Expectedly, his bombshell did not go down well with the presidency who took the elder statesman to the cleaners in a statement issued by the Media Aide to the president, Garba Shehu. He said: “Alhaji Tanko Yakasai is unknown to the All Progressives Congress. Everyone is entitled to their view, but what we do know is that his insight in a recent interview does not come from within the party or the President’s team. His support for Asiwaju Bola Ahmed Tinubu is welcome although it is difficult to see what value it will add. “He is right to highlight his experience as a senior citizen, a leader in government and ability to reach out across divides are strong foundations for the highest office. But Yakasai’s questioning of the loyalty of President Muhammadu Buhari stands in sharp contrast to the actions of the President. Only on Monday, he was out at a rally in Bauchi supporting the flag bearer of the party.” Interestingly, the Atiku/Okowa Campaign Organization wasted no time in lashing out at Tinubu, when it said the APC presidential candidate opened the book of lamentation because the policy has frustrated his plots to use slush funds for vote buying and manipula-

One thing is clear, Tinubu doesn’t launch attacks without reason. Whenever he does, it’s based on intelligence at his disposal. Few days after his outburst in 2022 prior to the presidential primary of the party, the National Chairman of the party, Senator Abdulahi Adamu, tried to impose the Senate President, Dr Ahmad Lawan, as the anointed candidate of the party, allegedly on the directive of President Buhari. This was resisted by critocal stakeholders as all the aspirants eventually went to the poll at the end of which Tinubu emerged victorious.

tive schemes. The Spokesperson of the campaign, Kola Ologbondiyan, in a statement said Tinubu’s attempts to blackmail the Buhari-led federal government won’t stop his defeat in the forthcoming polls. To the main opposition party, Tinubu was pretending to care for the pains Nigerians are passing through just because it was beginning to affect his political life ambition. Moreso, the campaign body noted that it was unfortunate that Tinubu was trying to hoodwink Nigerians by seeking to exonerate himself and blame others in the Buhari led-APC administration from the biting fuel scarcity in the country, when in reality he was known to be behind the insensitive and anti-people policies that have brought so much calamity to our country including the current persistent fuel scarcity. Ologbondiyan said: “Our campaign finds it pathetic that Asiwaju Tinubu is seeking a face-saving measure ahead of his shattering electoral defeat by shedding crocodile tears and claiming that the redesigning of the naira notes and the fuel crisis under the APC administration, were plots to scuttle the 2023 general elections” “Furthermore, it is clear that Asiwaju Tinubu is lamenting over the redesigning of the naira just because the policy has frustrated his boastful plots to use slush fund, which he reportedly stashed away in secret vaults, for vote buying and manipulative schemes including alleged funding of thugs to compromise the integrity of the 2023 Presidential election through the setting up of the Jagaban Army.” The main opposition party was of the opinion that only politicians who have always won elections by relying on bullion vans have become troubled over the CBN monetary policy to redesign the naira. It said more reprehensible was the fact that a few months to the end of the Buhari government, Tinubu was now struggling to distance himself from an administration which he told the world that he brought into office just because he wants to beguile Nigerians and take their votes. Similarly, Special Assistant, Public Communication to Atiku Abubakar, Phrank Shaibu, pointed out that even though the CBN policy affects all 18 political parties, Tinubu was the only one frustrated because his plan to deploy bullion vans and bribe poor voters and security agents on the day of election has failed woefully. Shaibu recalled that on the eve of the 2019 Presidential election, two cash laden bullion vans were pictured entering Tinubu’s premises located on 26 Bourdillon Road, Ikoyi. He lamented that several petitions were written to the Economic and Financial Crimes Commission (EFCC) but nothing was done. He said: “Also frustrated by President Muhammadu Buhari’s unwillingness to attend some of his insipid rallies, Tinubu launched an attack against the President who doubles as the Minister of Petroleum. It is funny that Tinubu is just commenting over the fuel scarcity which started in different parts of the country as far back as February 2022. In Lagos, where Tinubu claims to be the landlord, the state has been witnessing fuel queues since last November. It is therefore dubious of Tinubu to try to extricate himself from the failures of his party because elections are 30 days away.” However, less than 24 hours after Tinubu’s verbal attacks against the APC-led government, the Presidential Campaign Council (PCC) of APC beat a retreat when it clarified that its candidate did not mention, blame or accuse Buhari for the current challenges in the country. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY JANUARY 30, 2023

MONDAY DISCOURSE

How Far Can Soludo Go as APGA Leader? The National Executive Council of the All Progressives Grand Alliance has named Anambra State Governor, Prof Chukwuma Soludo, as its national leader. David-Chyddy Eleke wonders how well the former CBN Governor will fare in the new role.

o one has ever doubted the ability of former Governor of the Central Bank of Nigeria, Prof Chukwuma Soludo, to perform well as governor. It is believed that beyond APGA being the ruling party in Anambra state, the personality of Soludo contributed immensely to the landslide victory of APGA in the 2022 governorship election in the state. His election was made via a voice vote during the Party’s NEC meeting held at the International Convention Center in Awka, Anambra State capital, where the members unanimously voted to elect him as leader. The certificate for the position was also formally presented to him by the National Chairman of the Party, Chief Victor Oye. Addressing Party members gathered at the event, Oye said: “Anambra State is synonymous with development, and we pray to God to keep its leadership in place. All our State Chairmen from 36 states of the country and BOT Chairmen are all represented here. Our party has made tremendous progress, and all of the goals we set for 2022 have been met. We met the criteria for uploading data from ward to national level, APGA candidates, produced a list of officers, and completed the exercise in 21 days. “APGA was the first political party to meet the INEC deadline prior to the opening of our functional ICT center with 55 ports in 2019. I can monitor the uploading of party agents in real time on my phone. In 2021, we held our primaries in Awka on June 21st, and Governor Soludo emerged as the APGA candidate and went on to win the governorship election, and he is now seated here with us as the governor of Anambra State. “I’ve always said that no one can curse someone whom God has blessed. Governor Soludo is a visionary leader, and God Almighty will keep him alive so that he can complete his mission on earth. The state faced critical challenges in areas such as roads, security, health, employment, and education. Eight local governments in the state were under siege, but they have now been liberated under the current leadership of Governor Soludo. Reacting to his election, Soludo had said: “This has humbled me! I’m feeling the weight of history right now. The APGA is a coalition of all progressives. I feel the weight of our forebearers and those who have sacrificed their lives to ensure the survival of this great party. There was a grand progressive alliance in the first and second republics that included the UPN, RPP, NPP, and others, all of the progressives are dispersed throughout this republic. APGA is a 21-year-old political party that was the first to be registered with the word “progressives” in its name. “All progressives call APGA home. It’s a history with two leaders, and I’m honored to be the third. I must pay tribute to my predecessors, Late Sir Chukwuemeka Ojukwu of blessed memory, the first National Leader of APGA, Chief Willie Obiano, my immediate predecessor as the APGA’s second leader, and here I am. I pledge to work every day with all of you, our thronging members, so that all progressives in Nigeria will know that APGA is their home. “APGA is the third largest political party in Nigeria and will grow from strength to strength. When the country is ready, APGA will be there to provide the true progressivism that Nigeria craves. APGA has the potential to make Nigeria the world’s largest black nation. APGA has the potential to expand its domain in Nigeria. We have representation in the Governorship, House of Representatives, and House of Assembly. We have a responsibility to work very hard to maintain and expand our pace. This great party has my personal commitment. I came to this platform after many thoughtful years, and

Soludo

I read the party’s constitution and manifesto. It is the first political party to pledge support for true federalism. “APGA is still the road map to a better Nigeria. I will uphold this party’s principles and ethics. Because our motto is “leave no one behind,” our policies and programmes are centered on the people. APGA will win in the coming months, and then the real work will begin. We will run for every office in the country and, by God’s grace, we will win. I must commend APGA’s outstanding leadership, particularly in difficult circumstances. This leadership you have demonstrated will benefit future generations of APGA supporters. We must work hard to preserve our party’s name and greatness.” Soludo has also received commendation from several groups for the election, including Anambra Civil Society Network (ACSONET), a foremost Citizens and Non State Actors stakeholders forum. Leader of the group, Prince Chris Azor, who doubles as Citizens Co-chair Open Government Partnership (OGP) said it’s a step in the right direction and an impetus to achieve giant strides. “This is an appointment

well deserved and a demonstration of his Party’s reposed confidence in his leadership qualities. It therefore, calls for more effort, as the saying goes, reward for hard work is more work” he said. Beyond functioning as governor, Soludo now has a new task as national leader of his party, APGA, and in this role, unlike the task of governor where he has to ensure the development of the state, he is expected to lead this party, and also do battle with other political parties, not just in Anambra State, but in the entire Nigeria. In this role, Soludo has to ensure victory for candidates standing election under his party, even to the point of financing the party and its candidates. The 2023 general election may be a huge test to Soludo’s ability to galvanize the party. Though his appointment came late, as the general election is already underway, many will be expecting to see APGA candidates perform well in the forthcoming election; both at the presidential race, governorship contests in many states across the country, and most especially in Anambra where Soludo has billboards all over the place, saying “Anambra is APGA Land”. For Soludo too, he must assert that he has the capability to continue with the dream of the founding fathers of the party. Save for the spiritual and eternal leader of the party, late Dim Chukwuemeka Odumegwu Ojukwu, who was a founding father of the party and leader, Mr Peter Obi and Willie Obiano were also governors of the state who functioned as national leaders of APGA. Following successive record, the hurdle

The 2023 general election may be a huge test to Soludo’s ability to galvanize the party. Though his appointment came late, as the general election is already underway, many will be expecting to see APGA candidates perform well in the forthcoming election; both at the presidential race, governorship contests in many states across the country, and most especially in Anambra where Soludo has billboards all over the place, saying “Anambra is APGA Land”.

has always been for sitting and exiting governors of the party in the state to ensure that they hand down the battle for APGA candidates to succeed them. In 2013, Obi did it by successfully installing Obiano as governor of the state. Obiano in turn did not disappoint, as he stood his feet on the ground against all odd to ensure that Soludo won as governor, despite the stiff challenge. It can be said that Soludo is still very young in office, and the question of who succeeds him is not close, as he will still require to fight for his own re-election, before he talks about trying to influence a successor from his party. But already, there seems to be disenchantment about the level of support Soludo is giving candidates of National Assembly in the state. A source who did not wish his name to appear in print said: “As far as I know, the only area where I am sure that Soludo is interested in delivering APGA candidates is in House of Assembly. Dozie Nwankwo, the candidate of the APGA for Anambra Central Senatorial Zone will be naïve, if he claims that he does not know that Soludo is supporting his sister; Uche Ekwunife to win that position.” Ekwunife hails from Igboukwu in Aguata LGA, while Soludo is from Isuofia in same LGA, and people from the area are said to be known for manifest brotherliness. Also, Soludo has been accused of being reluctant to work for the presidential candidate of the party, preferring the candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar. In a press release by the Special Adviser on Media to the APGA presidential candidate, Prof Peter Umeadi, Angel Folorunso, accused Soludo of working against the party’s presidential candidate. Folorunso challenged Soludo to tell Nigerians his preferred candidate in the presidential election. She said the question became necessary because since Umeadi emerged the presidential candidate of APGA in June 2022, Soludo has not met with him one-on-one. “Soludo should tell who he is supporting, is it Umeadi who he has never met oneon-one, Atiku or Obi, who despite their love-hate affairs continue to make use of APGA government facilities free of charge? We expect Professor Soludo, whose duty includes the propagation and projection of the image of the party both locally and internationally to be the embodiment of the party’s conscience, more so now that the National Executive Committee (NEC) has named him the National Leader of the party. “He should give maximum support to the APGA presidential candidate, Umeadi not Obi or Atiku or any other candidate who is not of the APGA family. Partisanship is not likely the same thing as governance. This is the right thing to do in the spirit of the APGA Constitution. For instance, the APC 21 All Progressives Congress (APC) governors are supporting their presidential candidate, while the PDP 14 governors are obviously drumming support for their presidential flag bearer, except the G 5, who are yet to leave the party. “Is a card-carrying member of a political party expected to admit on national television that his candidate at an election would be defeated by the opposition? No. The electoral battle ought not to be a door-die affair but it is one where hope is kept alive until the results are known. Soludo seeming surrendering that Obi might win in Anambra State is worrisome. Maybe that was why Dozie Nwankwo while speaking to members of the CWO in Awka urged them not to vote for the APGA presidential candidate. These are brazen anti-party activities which would injure APGA if not nipped in the bud. Umeadi is the face of APGA nationwide, leading over 200 candidates across Nigeria as an anchor and point of contact on a daily basis,” she said.

T H I S D AY ˾ DAY ͱͮ˜ ͰͮͰͱ

FEATURES

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

Air Marshal Amao: Two Years of Uncommon Stewardship Chiemelie Ezeobi, who reviewed the two year scorecard of the Nigerian Air Force under the leadership of Air Marshal Oladayo Amao, CFR, reports that amidst daunting challenges, the service has lived up to its strategic mandate of making NAF a professional and formidable fighting force by sustaining critical airpower capabilities required for joint force employment in pursuit of national security imperatives

The Chief of the Air Staﬀ, Air Marshal Oladayo Amao introducing the pilots that participated in the Fly Past during the Nigerian Air Force Day 2022 celebration in Kano to the President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, Muhammadu Buhari GCFR

he fundamental mission of the Nigerian Air Force (NAF) is the protection of Nigeria’s sovereignty, citizens, values, interests, resources and territorial integrity against internal and external threats by air. This mission cannot be achieved without formidable dominance of the airspace. One of the world’s leading experts on leadership, Professor Warren Bennis once said, “leadership is the capacity to translate vision into reality”. This could aptly describe the current leadership of the NAF under Air Marshal Oladayo Amao - Commander of the Order of the Federal Republic who, in the last two years of his administration has not only transformed the NAF into a more professional fighting force which has now become the pride of the Armed Forces of Nigeria (AFN) but has made the NAF a formidable and well respected air force in Africa and even beyond. Sequel to his appointment as the 21st Chief of the Air Staff (CAS), on 26 January 2021 by the Commander-in-Chief of the Armed Forces, President Muhammadu Buhari, GCFR, Air Marshal Oladayo Amao, a seasoned and accomplished fighter and instructor pilot was unequivocal about his vision for the NAF considering heightened security challenges at the time. Through a well crafted vision, “To enhance and sustain critical airpower capabilities required for joint force employment in pursuit of national security imperatives”, Air Marshal Amao undoubtedly has left enduring legacy and indelible marks in the sands of time. While taking over the baton of leadership on 29 January 2021, Air Marshal Amao left no one in doubt of the commitment and determination of his administration to tackle headlong various security challenges bedeviling our dear nation in synergy with other security agencies. “We are however resolved to bring to an end these insecurities thereby ensuring that our nation is safe and economically attractive to live in”. Two years down the line, significant and remarkable progress has not only been made in the area of security but in other areas such as human capacity development, personnel welfare, Research and Development amongst others. Counter Insurgency and Counter-terrorism Talking about security, prior to 2021, the security situation in the Northeast, Northwest and North Central parts of the Country were quite dire and unpredictable as terrorists operating in these locations had more freedom of action to perpetrate their nefarious acts. However, the combined efforts of the AFN and other security agencies with the active support of the NAF, have brought some levels of sanity in the hitherto terrorist ravaged areas. The NAF has undoubtedly contributed significantly to the ongoing fight against insurgency and other forms of criminality across the country through its sustained and relentless air interdiction missions and dedicated air strikes against identified terrorists’ locations while also providing constant close air support to the ground forces. The NAF is currently involved in both joint and independent operations and has conducted hundreds of missions and flown thousands of hours to project airpower in support of operations HADIN KAI in the Northeast, HADARIN DAJI in the Northwest, THUNDER

STRIKE in the North Central, SAFE HAVEN in Plateau State and some parts of Kaduna State, AWATSE in the Southwest, DELTA SAFE in the South-South as well as the recent uprising in the Southeast. In tandem with his vision which hinges on joint force employment, in the last 24 months, the synergy among the three Services has been cordial and overwhelming which has resulted in the decimation of the terrorists' capabilities. The synergy among the three Services has yielded tangible and remarkable results. For instance, thousands of ISWAP and Boko Haram fighters including their high profile Commanders, collaborators and family members have either surrendered to the gallant troops of the AFN in the Northeast or eliminated. This was due to the well-coordinated and sustained air strikes in joint operations by the air component and ground troops. Several terrorist camps have also been destroyed due to intensive day and night bombing of their hideouts, just as various arms and ammunition have been recovered by the troops. It is pertinent to state that many erstwhile displaced persons have now returned to their ancestral homes, as peace returned to the hitherto conflict areas. In the last two years, Air Marshal Amao’s administration has reinvigorated and given further advanced training both at home and abroad to the NAF Special Forces elements to adequately prepare them to face headlong the current security challenges. These Special Forces have been fighting side by side with troops of other Services and security agencies in the various Theatres of Operation and doing daring exploits. It would be recalled that the NAF Special Forces under the 271 NAF Detachment, Birnin Gwari in Kaduna State carried out a rescue operation in the early hours of 17 December 2022 leading to the rescue of 7 Chinese expatriates earlier kidnapped and held hostage for 6 months by terrorists. In appreciation of the daring rescue operation, the Chinese Ambassador to Nigeria, His Excellency, Cui Jianchun paid a ‘thank you’ visit to the Chief of the Air Staff on 20 December 2022 where he commended the high level

Newly acquired A-29 Super Tucano aircraft of professionalism exhibited by the NAF Special Forces. The NAF in the last 24 months has conducted 13,960 sorties in 10,486 missions and flew over 27,614:24 hours in both combat and non-combat support roles with 14,205,354 litres of fuel consumed. Communication no doubt is very key to a successful operation, in this regard, in the last 2 years, the NAF has scaled up its Communications and Information Systems support for the various Theatres of Operation thereby enhancing Intelligence Surveillance Reconnaissance (ISR) missions and improving dissemination of intelligence. The NAF has also expanded its force structure to bring security closer to the population. Recently, the Chief of the Air Staff approved the establishment of a Forward Operating Base (FOB) in Ogoja, Cross River State. The need for an FOB in the Southern-most part of Cross River State became expedient after a review of NAF’s doctrine, force structure and Order of Battle. All these efforts are geared towards ensuring that remnants of unrepentant terrorist elements are neutralized to ensure peace and stability and enable law abiding citizens to carry out their legitimate aspirations without fear or intimidation.

to upscale its capabilities in tackling insurgency, terrorism, armed banditry and other forms of criminality in the country. To this end, 17 previously grounded aircraft including the Super Puma helicopter, 5 F-7Ni and one F-7TNi supersonic fighter aircraft, EC-135 helicopter, DO-228 transport aircraft, Mi-24V, Mi-35P, C-130H, L-39ZA basic jet trainer/light attack aircraft and Alpha Jet aircraft have been reactivated. Also, the Falcon 900 and ATR 42 aircraft had undergone C-Checks inspection at facilities outside the country. Indeed, for the first time in its history, the NAF successfully conducted multiple in-country Periodic Depot Maintenance (PDM) of its platforms. The aircraft include three C-130H (NAF 918, 917 and 913) in Lagos, two Mi-35P in Port Harcourt as well as three Alpha Jet aircraft in Kainji, which also involved avionics upgrade. Equally, three x L-39ZA aircraft underwent PDM and avionics upgrade at the OEM in Czech Republic while successfully conducted life extensions program on 6 x L-39ZA aircraft in Kano. The acquisitions and reactivation as well as the emplacement of robust logistics support structure have enabled the NAF to improve the serviceability status of operable aircraft from about 35 per cent in 2015 to over 75 per cent in 2022.

Aircraft Acquisition and Reactivation The last two years of the administration has witnessed unprecedented support from the Federal Government in terms of aircraft acquisition and reactivation to tackle current and emerging security challenges in the country. The Federal Government has acquired 38 brand new aircraft to boost training and combat readiness of the NAF since 2015. The newly acquired aircraft include 10 Super Mushshak trainer aircraft, 5 Mi-35M helicopter gunships and 2 Bell 412 helicopters. Others are four Agusta 109 Power attack helicopters, two Mi-171E helicopters, three JF-17 Thunder multi-role fighter aircraft and more recently, 12 A-29 Super Tucano aircraft in addition to a number of Unmanned Combat Aerial Vehicles (UCAVs). These UCAVs include two Wing-Loong II, three CH-3A and four CH-4 UCAVs. Mr President has also directed the acquisition of additional platforms which include, two Beechcraft King Air 360, four Diamond DA-62 surveillance aircraft, 3 Wing Loong II UCAVs, 6 T-129 ATAK helicopters, 12 Agusta 109 Trekker multi-role helicopters and 24 M-346 attack aircraft to boost NAF air power employment and projection capabilities as well as air combat training. A few of these additional platforms are expected to be delivered in 2023. In the same vein, the NAF has sustained reactivation of hitherto unserviceable platforms

Doctrinal Development and Establishment of Air Warfare Centre In line with one of the key drivers of his vision which focuses on doctrinal development and application of airpower in joint military operations, Air Marshal Amao directed the activation of the NAF Air Warfare Centre in Abuja. The mission of the Air Warfare Centre commissioned recently is to develop operational and tactical doctrines as well as provide Integrated Mission Support for the NAF. The Centre will serve to impact advanced air power knowledge, employment and concepts in NAF personnel. It will also monitor international trends in air warfare and serve as a research centre for air warfare studies. So far, 15 new doctrines have been developed by the NAF in the last 2 years. The doctrines are essentially based on analysis of the contemporary security environment as well as the operational experiences of the Service. Accordingly, all relevant competencies in the NAF are now guided by updated doctrines that are quite germane to NAF ongoing and future operations.

Through a well crafted vision, “To enhance and sustain critical airpower capabilities required for joint force employment in pursuit of national security imperatives”, Air Marshal Amao undoubtedly has left enduring legacy and indelible marks in the sands of time

Training and Capacity Development For the NAF to function efficiently, both as a highly technical service and a fighting force for the effective defence of Nigeria's territorial integrity, it must have the right numerical strength and, more importantly, the right quality of manpower in all relevant competencies. In line with one of the key drivers of his vision which deals with purposeful training and human capacity development, the NAF has continued to train and retrain personnel of all specialties both locally and abroad. Indeed, the last 2 years has witnessed unprecedented capacity building of personnel in both air and ground functions. Since his assumption of office, the current NAF leadership has winged 90 new pilots including UAV operators who graduated from various Continued on page 21

T H I S D AY ˾ DAY ͱͮ˜ ͰͮͰͱ

FEATURES

Air Marshal Amao: Two Years of Uncommon Stewardship

Newly acquired Mi-171E helicopter pilot courses both at home and abroad. In the same vein, several officers, airmen and airwomen are currently undergoing training in various countries of the world. In addition, hundreds of personnel across all specialties are also being trained locally despite crippling budgetary constraints. Similarly, the NAF has significantly boosted the capacity of its Regiment and Special Forces with additional training and equipment to improve their operations. Other areas that have received significant capacity boosts include the training of aircraft engineers and technicians, Information and Communication Technology, education, administration and medical professionals amongst others. The NAF has boosted its recruitment drive to tackle various internal security challenges bedeviling the country. In the last 2 years, the Service has graduated over 2,644 recruits at the Military Training Centre in Kaduna. As part of efforts to enhance the welfare of personnel for effective and efficient service delivery, the NAF also sent 10 Senior Non-Commissioned Officers of the ranks of Air Warrant Officer and Master Warrant Officer to attend a unique 4-part international pre-retirement training in the United Kingdom. Also 15 personnel were sent to Warsaw-Poznan, Poland for VIPs’ Combat Security Driving Course. The one month course, first of its kind in the NAF was aimed at training the drivers on how to operate a vehicle in a high-risk environment and safeguard lives of VIPs. In order to enhance professionalism and proficiency of personnel in weapon handling, the NAF in the last 2 years has resuscitated the annual range classification exercise in all NAF units nationwide, aimed at improving the marksmanship of its personnel. Personnel Welfare As an outstanding manager of human and material resources, Air Marshal Oladayo Amao believes very strongly in the morale and welfare of personnel as precursors to operational success both now and in the future. He also believes that the most valuable resource that the NAF possesses is its airmen and airwomen. Without well-motivated and dedicated personnel, the most sophisticated weapon system is useless. According to the CAS, “You can have all the material in the world but without morale and welfare, it is largely going to be ineffective.” Therefore, as part of his efforts to bolster morale through improved personnel welfare, Air Marshal Amao, in the last 24 months has renovated/remodeled and constructed new blocks of classrooms and hostel accommodation in existing NAF schools across the Country, while engaging in massive construction and renovation of residential accommodation to reduce the accommodation shortage in NAF Bases. These are geared towards provision of qualitative education for dependants of personnel as well as members of the host communities. The key interest of the current administration in providing qualitative education paid off in the last 2 years as students of some of the NAF schools such as Air Force Military School (AFMS), Jos, Air Force Girls Comprehensive School, Abuja, Air Force Secondary Schools, Ikeja and Shasha, Air Force Comprehensive Schools (AFCS), Yola and Enugu respectively obtained 5 credits and above, including English and Mathematics in the WASC/NECO exams for 2020/2021 academic session. Also, Master Edeani Izuchukwu, a student of AFCS Agbani, Enugu State emerged winner of the National Science Competitive Examination where he was awarded “774 Young Nigerian Scientists Presidential Award” by the Vice President of Nigeria, Professor Yemi Osinbajo, SAN. In the same vein, Miss Feyisola Bolarinwa, a student of Air Force Girls Military School (AFGMS), Jos won the Bronze Award at the Queen's Commonwealth Essay Competition conducted by the Royal Commonwealth Society. To enable NAF personnel and those outside the Service have the opportunity to channel their complaints and grievances against the Service or its personnel, Air Marshal Amao established

One of the constructed accomodations for personnel the Office of the Ombudsman. The Office serves as an independent instrument that provides an objective and compassionate channel for seeking redress. Additionally, the NAF recently set up a Committee to review all human rights violations in the NAF and come up with appropriate recommendations. This is a good step in the right direction which would further assist the NAF in the conduct of its operations in line with international best practices. In a bid to stimulate better welfare packages for NAF veterans and their families, Air Marshal Amao also established the Directorate of Veteran Affairs. The Directorate is tasked with interfacing with similar structures in sister Services towards harnessing necessary benefits for NAF retirees under existing Federal Government programmes for veterans, among other responsibilities. Air Marshal Amao also approved the enactment of the Death on Active Service clause for all serving NAF personnel. This enactment automatically entitles up to 4 dependants of NAF personnel who die before their retirement to benefit from free medical services and drawing NAF educational sponsorship up to university level, among other benefits. Additionally, Air Marshal Amao approved a 100 per cent increment of the benevolent fund payable to the Next-of-Kin (NOK) of all NAF personnel who die while serving the nation. Air Marshal Amao also approved the publication of guidelines to educate personnel, their spouses and dependents on how to change and select NOK as well as processing of death benefits for those who die in the service of the nation. Realizing the value of human being as the most important resource and the need to maintain a healthy workforce essential for combat readiness, the NAF under the current leadership has given priority attention to the well-being and health needs of NAF personnel and their dependents. In its quest to reduce the huge foreign exchange expended on medical tourism amid the challenge of the COVID-19 pandemic which has drastically reduced physical contact between patient and doctors, the NAF leadership explored the possibilities of the Information Communication Technology by setting up a NAF Telemedicine portal. The portal, which is the first of its kind in the entire AFN, bridges the geographical barriers between patient and healthcare provider to access efficient and affordable healthcare services without being physically involved. The West African College of Physicians also granted approval to the NAF to conduct Residency Training Programme for doctors in Family Medicine at the 661 NAF Hospital, Ikeja. With this, the Hospital becomes the first and only hospital in the NAF accredited to train postgraduate

medical doctors. Furthermore, the 063 NAF Hospital Abuja successfully carried out the first minimally invasive surgery also known as laparoscopic surgery on a 54-year-old patient with gall bladder stones. Under the leadership of Air Marshal Amao, the NAF College of Nursing Sciences (NAFCONS), Kaduna was granted approval for the commencement of National Diploma in Nursing Training by the National Board for Technical Education. With this, candidates seeking admission into NAFCONS can now go through the University Matriculation Examination conducted by JAMB to be eligible for admission into ND General Nursing. The 661 NAF Hospital Laboratory, Ikeja equally won an award of International Organization for Standardization (ISO) 15189:2012 accreditation certificate for quality management systems and excellent service delivery. During the outbreak of the novel Coronavirus (COVID-19) the NAF airlifted several government officials, equipment, and medical supplies in response to the outbreak. In 2021, the NAF airlifted over 4000 Kilograms of COVID-19 medical relief materials donated by the Economic Community of West African States (ECOWAS) and other donor partners like Team Europe, the German Government, United Nations Development Programme & Deutsche Gesellschaft Fur Internationale Zusammenarbeit (GIZ). The relief materials were airlifted from Nnamdi Azikiwe International Airport to 14-member nations of ECOWAS. Additionally, in line with Mr President's mandate to contribute towards winning the peace in troubled areas in the Country, the NAF has emplaced programmes aimed at alleviating the sufferings of Internally Displaced Persons as well as win the hearts and minds of those affected by the activities of BHTs and other terrorist elements. In his determination to improve the poor welfare package of temporary teaching staff in NAF schools nationwide, which has been left unattended to by previous administrations, Air Marshal Amao approved a 50 per cent upward review of salaries of all temporary teachers in NAF primary and secondary schools nationwide. This increment is across board for both BSc and NCE certificate holders teaching in NAF Schools across the country. This has no doubt enhanced the morale of the teachers and improved their standards of living with positive consequences on their teaching outputs. The pupils of AFMS and AFGMS, Jos also benefited from Air Marshal Amao's magnanimity as he approved a 66.67 per cent increase of their ration allowance, a measure which will go a long way in enhancing their nutrition and learning as well. RESEARCH AND DEVELOPMENT The NAF, in the last 2 years, has invested substantially in R&D to develop unprecedented capacity to surmount current and emerging security challenges while also enhancing its operational viability. These breakthroughs were realized under the guidance of the Chief of the Air Staff, through the Air Force Research and Development Centre. Some of the R&D breakthroughs recorded included the refurbishment of unserviceable rocket launchers and BMGs back loaded from operations, test firing of locally produced 18-tube rocket launchers for A-jet aircraft and the production and deployment of 30.1mm rocket to 271 NAF Detachment, Birnin-Gwari for operational usage. Others are the adaptation of 6-tube 68mm SNEB Rocket launcher on Agusta 109 Power Helicopter for improved fire power, reconfiguration of non-compatible DEFA Gun

For the NAF to function efficiently, both as a highly technical service and a fighting force for the effective defence of Nigeria's territorial integrity, it must have the right numerical strength and, more importantly, the right quality of manpower in all relevant competencies

electrical flanges, installation of Geisha 23mm pintle mount with electrical firing system and the conversion of PUS 38DM to intervalometer. There were also breakthroughs in the installation of generating system on Tsaigumi UAV, repair of quantity 2 x C-130H nose Radomes and production of a PGM prototype. In the same vein, production of 57mm C-5 rocket prototype, production of 2,000 MATRA 155 rocket launcher heat shields, production of blank firing adaptor for CAK 103 rifle, modification of Tsaigumi engine exhaust system, flight testing and modification of Tsaigumi UAV wing are on-going during the period. These innovations have no doubt enhanced NAF's operations and reduced to a large extent NAF's over-dependence on foreign assistance thereby enabling the country make savings on foreign exchange. INFRASTRUCTURAL DEVELOPMENT Realizing that the availability of key infrastructures such as accommodation, roads and water in NAF Bases nationwide enhances morale of troops which has positive implications on NAF operational output, Air Marshal Amao has continued to pay special attention to the provision of basic needs in all NAF Bases across the Nation. These efforts are aside the over 100 blocks of different types of living accommodation at various levels of completion in NAF Bases nationwide. Upon assumption of office, Air Marshal Amao immediately approved the implementation of the NAF paperless process automation solution. This initiative which is currently at an advanced stage and the first of its kind in the entire AFN, became necessary having observed NAF's over-dependence on paper in its daily correspondences, which has negative environmental impact and makes it tedious to retrieve or track down specific documents. With the implementation of the paperless solution, less time will be spent on clerical work while reducing paper consumption, helping the environment, and speeding up document processing. Above all, this initiative will assist the NAF save money and space, boost productivity and output, make documentation and information sharing easier and secure official and personnel information. Establishment of Aviation City As part of its continued efforts to develop competencies and build capacity in the area of R&D to meet current and emerging security challenges, the NAF in partnership with the Osun State Government is on the verge of establishing an Aviation City in Ido-Osun, Osun State. The project on completion would include an aircraft manufacturing plant, a maintenance repair organization and unmanned aerial vehicle production centre amongst others. Indeed, the last 2 years have been challenging but in spite of the daunting challenges, Air Marshal Oladayo Amao has remained committed and resolute in transforming the NAF into a formidable fighting force capable of tackling current and emerging security challenges. Within 2 years, he has left no one in doubt of his unbounded sense of duty and commitment to the growth and development of the NAF. Indeed, his passion for the NAF resonates with the words of Larry Smith who averred that, “When you feel passionate about your work, you do not set rigid boundaries between work time and personal time, because the work itself is personal.” It should also be stated that Air Marshal Amao is committed to transforming the NAF into a model fighting force that will operate seamlessly with the Sister Services and other security agencies to ensure security, stability, and prosperity of the nation. Nigerians can therefore be rest assured that the NAF will continue to aim at higher standards of operational excellence and combat readiness in carrying out its statutory roles as well as carrying out other tasked as assigned by the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Muhammadu Buhari, GCFR. Nigerian Air Force, willing, able, ready.

MONDAY JANUARY 30, 2023 • T H I S D AY

24 T H I S D AY MONDAY JANUARY 30, 2023 TR

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& RE A S O

Monday January 30, 2023 Vol 27. No 10153

opinion@thisdaylive.com

www.thisdaylive.com

GBAJABIAMILA’S CHARGE TO NORTHERNERS The Speaker of the House of Representatives urges the North to rally support for the Presidential candidate of the ruling party, writes OLU ADELE

See page 25

WHY DO BUSINESSES CONTINUE TO SELL IN SACHETS? TIMI OLUBIYI argues that the sachet trend has continued to expand due to shrinking income levels, and rising poverty amongst the populacea

See page 25

EDITORIAL

THE BANE OF DIESEL ECONOMY

Millets, also referred to as ‘Smart Food’, are good for the consumers, the planet and the farmers, writes RAJEEV K. VARSHNEY

MIGHTY MILLETS - SUPER GRAINS OF POWER Super-grain, super-food and wondergrain are some of the adjectives often used to describe millets, one of the oldest foods NQRZQ WR KXPDQV DQG SUREDEO\ WKH À UVW grain used for domestic purposes. The unanimous adoption by the United Nations General Assembly (UNGA) of the resolution to declare 2023 as the International Year of Millets, a proposal sponsored by India and supported by over 70 nations, underlines the international community’s support to UHFRJQLVH WKH LPSRUWDQFH DQG EHQHÀ WV RI these grains for the global food system. Speaking on the subject during the adoption of the resolution India’s former permanent representative to the UN, Ambassador TS Tirumurti, said, “There is an urgent need to promote the nutritional and ecological EHQHÀ W RI PLOOHWV WR FRQVXPHUV SURGXFHUV and decision-makers to improve production H΀ FLHQFLHV UHVHDUFK DQG GHYHORSPHQW investments, and food sector linkages”. He expressed gratitude to all the co-sponsors, especially Bangladesh, Kenya, Nepal, Nigeria, Russia, Senegal and all member states of the UN for their strong support. Several ancient Indian scriptures make references to millets and the traces of millets have been found in the archaeological sites of Harappa and Mohenjo-daro. For many years, millets were a part of our daily diet. Today, there is a growing realisation among Indian farmers that cultivating millets requires fewer inputs and it is also an economically viable option, especially in harsh and dry environments. This is supported by the newIRXQG NQRZOHGJH RQ WKH KHDOWK EHQHÀ WV of millets. Also, over the last few years, the Indian government has been making H[WHQVLYH HͿ RUWV WR HQFRXUDJH WKH FXOWLYDWLRQ of millets. The Union Government of India, headed by Prime Minister Narendra Modi, had declared 2018 as the National Year of Millets to boost production of the nutrient-rich grains. Millets are an important staple cereal crop for millions of smallholder dry-land farmers across Asia and sub-Saharan Africa. They are also called nutri-cereals or dry-land cereals, and include sorghum (jowar), pearl millet EDMUD À QJHU PLOOHW UDJL IR[WDLO PLOOHW (kangni), proso millet (chena), barnyard millet (samvat ke chawal) and kodo millet NRGRQ DQG RͿ HU KLJK QXWULWLRQDO EHQHÀ WV Millets are also referred to as ‘Smart Food’, which are good for the consumers, the planet DQG WKH IDUPHUV )RU LQVWDQFH À QJHU PLOOHW has three times the amount of calcium as in milk, and most millets have very high levels of iron and zinc, low glycemic index, good OHYHOV RI SURWHLQ DQG À EUH DQG DUH JOXWHQ free. Millets can also contribute to addressing some of the largest global issues in unison: poor diet (malnutrition to obesity); environmental issues (climate change, water

scarcity and environmental degradation); and rural poverty. They have a low carbon footprint and have the ability to survive and grow in warm climate with very little water. They are climate-smart and hence constitute a good risk management strategy for farmers as compared to rice and wheat crops, which need higher quantities of water and fertiliser supplements. (Ϳ RUWV WR EULQJ ,QGLDQ PLOOHWV WR WKH international forefront began in October 2017, during the Committee on Food Security event in Rome. A series of meetings involving the Government of India (GOI), the agricultural research body International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) and other stakeholders were organised at the Food and Agriculture Organization (FAO) of the UN to identify the process of promoting the idea with FAO departments and the Indian Embassy in Rome. Following this initial step, in November 2017, the Government of India’s then Union Agriculture Minister Radha Mohan Singh wrote to the UN SecretaryGeneral, Antonio Guterres, requesting the inclusion of the proposal in the UN General Assembly agenda for an International Year of Millets in 2018. Although this process can W\SLFDOO\ WDNH À YH \HDUV WKH *2, ,&5,6$7 the Consultative Group on International Agricultural Research (CGIAR), the Indian Council of Agricultural Research (ICAR) of the Ministry of Agriculture & Farmers’ Welfare and its millets research institute, ICAR - Indian Institute of Millets Research (IIMR), along with others pursued the cause, which came to fruition in 2021. It is encouraging to note that the world is talking about depleting natural resources like arable land and water, and the pressing need to produce more to meet the food and nutritional requirements of the growing population. Staple crops like rice and wheat are part of our traditional diets but are known to be water guzzlers, challenging our farmers, consumers and policy makers to explore ways to diversify our cropping system. Millets suit this requirement. Tolerant to drought and high temperature, and other climate change vagaries, millets are mostly cultivated on low-fertile land, mountainous, tribal and rain-fed areas of India like Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Madhya Pradesh, Odisha,

Rajasthan, Maharashtra, Karnataka, Uttar Pradesh, Tamil Nadu and Telangana. As per the Food and Agriculture Organization’ data, the global millet production stands at about 90 million tonnes, of which India’s share is about 19 million tonnes. However, as productivity for a majority of millets is very low, several Indian and international organisations have been working towards enhancing crop productivity by using multi-disciplinary approaches. For instance, the Pearl Millet Genome Sequencing Consortium, comprising 30 institutions, decoded the genome of pearl PLOOHW DQG LGHQWLÀ HG JHQHV IRU GURXJKW DQG heat-tolerance that may be useful not only for millets but also for other major cereals. These researches have contributed to developing several high-yielding hybrids and improved varieties of several millets that are grown by farmers in India. At the national level, the Government of India has been promoting the cultivation of millets on a mission mode to achieve nutritional security, following recommendations by a committee headed by NITI Aayog. Indian Prime Minister Narendra 0RGL GHGLFDWHG ELRIRUWLÀ HG YDULHWLHV RI eight crops, which included two varieties of À QJHU PLOOHWV DQG RQH YDULHW\ RI OLWWOH PLOOHW on October 16, 2020, on the 75th anniversary of the FAO. As a part of the government’s initiative under the National Food Security Act, state governments have been advised to procure millets at minimum support price and distribute them under the public distribution system (PDS). India’s National Nutrition Mission, POSHAN Abhiyaan, has also advised state governments to include millets under large public system delivery channels such as Integrated Child Development Services, Mid-Day Meals, etc. While the government and research organisations work towards higher productivity of millets, nutritionists and chefs are contributing towards the promotion of millets by creating unique millet dishes. Promotions are being done on easy ways to cook millets, convenient tasty millet recipes, and word is being spread about WKHLU QXWULWLRQDO EHQHÀ WV DQG HQYLURQPHQW friendly qualities among all stakeholders both at the national and international level. The UN Food Systems Summit 2021 also RͿ HUV DGGLWLRQDO RSSRUWXQLW\ WR PDNH WKH food systems sustainable and resilient. The declaration of 2023 as the ‘International Year of Millets’ will certainly support all these HͿ RUWV DQG PDNH PLOOHWV D SRSXODU DQG healthy food choice for all. Prof. Varshney is a Research Program Director at the International Crops Research Institute for SemiArid Tropics (ICRISAT), Hyderabad, India and an Adjunct Professor with Food Futures Institute, Murdoch University, Australia

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MONDAY JANUARY 30, 2023

The Speaker of the House of Representatives urges the North to rally support for the Presidential candidate of the ruling party, writes OLU ADELE

GBAJABIAMILA’S CHARGE TO NORTHERNERS They move from city to city convincing they say he is corrupt, tell them he is the YRWHUV ZK\ $VLZDMX %ROD $KPHG 7LQXEX most investigated in Nigeria’s history and and his vice, Senator Kashim Shettima, QRWKLQJ KDV EHHQ IRXQG DJDLQVW KLPµ GHVHUYH WKH QDWLRQ·V WRS MREV 7LQXEX DQG *EDMDELDPLOD KDV EHHQ YHU\ FRQVLVWHQW 6KHWWLPD DUH ERWK DFKLHYHUV 7KH IRUPHU ZLWK KLV VXSSRUW IRU 7LQXEX VLQFH WKH /DJRV 6WDWH *RYHUQRU WXUQHG DURXQG WKH FDPSDLJQ NLFNHG RͿ +H KDV EHHQ HYHU\ZKHUH ZLWK 7LQXEX FDPSDLJQLQJ IRUWXQH RI D VWDWH DW D SUHFLSLFH LQ The military had run everything ZLWK KLP *EDMDELDPLOD ZKR LV RQH RI WKH DJURXQG EHIRUH WKH UHWXUQ RI GHPRFUDF\ PDQ\ LOOXVWULRXV SURGXFWV RI WKH 7LQXEX ZKHQ 7LQXEX ZDV HOHFWHG JRYHUQRU RI OHDGHUVKLS PLOO NQRZV WKDW 7LQXEX /DJRV 6WDWH RQ WKH SODWIRUP RI WKH $OOLDQFH Shettima presidency will herald the desired IRU 'HPRFUDF\ $' +H EURXJKW KLV development the nation eagerly yearns for. VRSKLVWU\ LQ ÀQDQFLDO PDQDJHPHQW DQG The speaker spoke with the same vigour DQG FRQYLFWLRQ ZKHQ KH YLVLWHG %DXFKL DORQJVLGH $VLZDMX 7LQXEX DQG 3UHVLGHQW 0XKDPPDGX %XKDUL DPRQJVW RWKHU prominent leaders. He told the people of %DXFKL DQG E\ H[WHQVLRQ WKH 1RUWKHUQHUV QRW WR GLVDSSRLQW %XKDUL ,Q WKH YLHZ RI WKH VSHDNHU WKH SUHVLGHQWLDO HOHFWLRQ LV %XKDUL·V SURMHFW $QG LW LV LPSHUDWLYH IRU WKHP WR UDOO\ VXSSRUW IRU WKH 3UHVLGHQWLDO candidate of the ruling party. 7LQXEX VWRRG ÀUPO\ DQG VXSSRUWHG %XKDUL ZKHQ LW PDWWHUHG PRVW $IWHU WKUHH IDLOHG DWWHPSWV DW WKH SUHVLGHQF\ %XKDUL FOLQFKHG WKH QDWLRQ·V FRYHWHG VHDW LQ when he got the much needed support 7LQXEX PRELOLVHG IRU KLP LQ WKH ZHVW DQG other parts of the country. administration in turning around the %XKDUL OHYHUDJHG 7LQXEX·V PHGLD human capital and material resources to fortune of the state. 7RGD\ 7LQXEX LV HPLQHQWO\ UHJDUGHG DV get to the throne. It is a pay time for the WKH EXLOGHU RI PRGHUQ /DJRV +H HDUQHG -DJDEDQ %RUJX 7LQXEX KDV SDLG KLV GXHV WKH QDPH E\ KLV VWHUOLQJ UHFRUGV LQ R΀FH LQ SROLWLFV DQG VDFULÀFHG D JUHDW GHDO IRU WKH and the master plan he envisioned for the lifting of others into national prominence. 6R ZKHQ *EDMDELDPLOD VDLG WKH nation’s commercial nerve centre. )URP SDOWU\ 1 PLOOLRQ ,QWHUQDOO\ QRUWKHUQHUV VKRXOG QRW GLVDSSRLQW %XKDUL *HQHUDWHG 5HYHQXH ,*5 SHU PRQWK KH LW ZDV DJDLQVW WKH EDFNJURXQG RI WKH VWHDGLO\ JUHZ /DJRV ,*5 WR DERXW 1 ELOOLRQ FRQVLVWHQW VXSSRUW RI 7LQXEX IRU WKH %XKDUL EHIRUH KH OHIW R΀FH LQ %XR\HG E\ KLV DQG E\ H[WHQVLRQ WKH QRUWK ZRUNLQJ WHPSODWH 7LQXEX·V VXFFHVVRUV %DXFKL LV RQH RI WKH VWDWHV 3UHVLGHQW leveraged the strong foundation laid in %XKDUL ZDV ELOOHG WR DWWHQG SUHVLGHQWLDO ÀQDQFLDO UH HQJLQHHULQJ WR JURZ WKH ,*5 UDOOLHV 7KH 3&& H[SUHVVHV LWV SURIRXQG WR LWV FXUUHQW VWDJJHULQJ 1 ELOOLRQ SHU JUDWLWXGH WR 3UHVLGHQW %XKDUL WKH OHDGHU of our great party, for his sterling and month. On the other hand, Shettima, presided inspirational leadership at this time and RYHU D VWDWH SODJXHG E\ WHUURULVP EXW IRU JDOYDQLVLQJ RXU WHHPLQJ PHPEHUV DQG excelled in all human development indices. supporters across the country. %RUQR 6WDWH WRGD\ LV RQ D UHFRYHU\ SDWK ´:H XUJH RXU SDUW\ IDLWKIXO DQG 7KH LQFXPEHQW JRYHUQRU =XOXP LV DOVR supporters to turn out en masse, as usual, EXLOGLQJ RQ WKH VXFFHVVHV DQG DFKLHYHPHQWV in the forthcoming campaign rallies. The ]HUR KRXU LV QLJK RXU VSLULWV PXVW EH KLJK of former governor Shetimma. So, it was exciting for chieftains of we must not relent in this our collective the ruling party to join the campaign march to our victory that is divinely WUDLQ 7LQXEX 6KHWWLPD WLFNHW LV D KLJKO\ RUGDLQHGµ $3& 3UHVLGHQWLDO VSRNHVPDQ VHOODEOH SURGXFW ,W LV D MRLQW WLFNHW EDVHG said in a statement. on achievements. The Rt. Hon. Speaker of 7KH QRUWK KDV D ORW WR EHQHÀW IURP WKH the House of Representatives, Hon Femi 7LQXEX 6KHWWLPD SUHVLGHQF\ 7KH QDJJLQJ *EDMDELDPLOD ZDV RQH RI WKH QDWLRQDO insecurity and allied crises and widespread OHDGHUV RI WKH SDUW\ ZKR KDYH EHHQ JLYLQJ SRYHUW\ ZLOO EH WDFNOHG KHDGORQJ +H KDV KLQWHG WKDW LQ 0DNXUGL %HQXH 6WDWH FDSLWDO WKH FDPSDLJQ D PDMRU ERRVW :KHQ WKH FDPSDLJQ FDPH WR /DJRV He told the people that he will ensure the ODWH ODVW \HDU *EDMDELDPLOD DGGUHVVHG UHWXUQ RI GLVSODFHG SHUVRQV EDFN WR WKHLU 1LJHULDQV RQ ZK\ $VLZDMX 7LQXEX DQG respective homes. 6KHWWLPD DUH WKH EHVW RSWLRQV IRU WKH QDWLRQ 6FKRROV ZLOO EH SURYLGHG IRU WKRXVDQGV +H UHSOLHG WR 7LQXEX·V WUDGXFHUV ZKR DUH RI NLGV ZKR DUH RXW RI VFKRROV 7LQXEX KDV GRXEWLQJ KLV DJH WR PHHW WKH PRWKHU RI also pledged student loans for indigent the former governor to authenticate it. His VWXGHQWV IRU TXDOLW\ KLJKHU HGXFDWLRQ ZRUGV DW WKH PHJD UDOO\ ´7KH\ ZLOO DVN \RX 7LQXEX KDV JUHDW SODQV IRU 1LJHULD :KDW how old he is. Tell them he is the age his KH GLG LQ /DJRV KH LV UHDG\ WR UHSOLFDWH PRWKHU VDLG KH LV $QG LI WKH\ DUH LQ GRXEW across Nigeria. He had recently declared of his age, tell them go and meet his mother LQ $EHRNXWD 2JXQ 6WDWH FDSLWDO WKDW KH ZLOO DGGUHVV WKH SUREOHP RI 306 DQG RWKHU WR UHFRQÀUP ´,I WKH\ VD\ KH·V QRW HGXFDWHG WHOO WKHP FULVHV EHGHYLOOLQJ WKH QDWLRQ 7KH IRUPHU he is more educated than all the contestants /DJRV 6WDWH *RYHUQRU UHPDLQV WKH EHVW choice for Nigeria among other candidates put together. ´,I WKH\ WHOO \RX KH LV ZDQWHG LQ $PHULFD VHHNLQJ WR EHFRPH 1LJHULD·V SUHVLGHQW America has said repeatedly they do not Adele NQRZ ZKDW WKH\ DUH WDONLQJ DERXW :KHQ writes from Ibadan, Oyo State

TIMI OLUBIYI argues that the sachet trend has continued to expand due to shrinking income levels, and rising poverty amongst the populacea

WHY DO BUSINESSES CONTINUE TO SELL IN SACHETS? 7KH \XOHWLGH KDV ZLWQHVVHG D VLJQLÀFDQW consumption rate across the country in the consumer goods sector. On a larger scale, sachet usage has dominated the retail industry LQ PDQ\ SDUWV RI $IULFD EXW PRUH VLJQLÀFDQWO\ in Nigeria, where the population is high, and there is a huge demand for consumer goods. The level of plastic and sachet waste generation is extremely high, and we may have D ELJ SUREOHP ZLWK WKDW LI WKLV WUHQG FRQWLQXHV WR LQFUHDVH ZLWKRXW DGHTXDWH UHJXODWLRQ %HFDXVH VDFKHW SURGXFWV RU VLQJOH VHUYH SDFNV as they are normally called in the fast-moving FRQVXPHU JRRGV )0&* LQGXVWU\ GRPLQDWH the retail landscape, the surge in usage has EHHQ DODUPLQJ ,Q FROORTXLDO WHUPV WKH PRGHO

LV UHIHUUHG WR DV ´VDFKHWLVDWLRQµ ZKLFK LV NQRZQ WR KDYH NLFNHG RͿ LQ 1LJHULD LQ WKH · V with the making of smaller sachets of drinking ZDWHU SXUH ZDWHU DQG &RZEHOO SRZGHUHG PLON E\ 3URPDVLGRU 7KHQ WKH LGHD ZDV QHFHVVLWDWHG E\ LQQRYDWLRQ WR SHQHWUDWH WKH larger low- or no-income populace. However, WKH LGHD ZDV ODWHU PHW ZLWK LQWHQVH DQG VWLͿ competition. Today, the literature suggests WKDW RYHU PLOOLRQ XQLWV RI SXUH ZDWHU DUH consumed per day in Nigeria, along with loads of other sachet pack products. From WDNH DZD\ IRRG SDFNV WR FDUULHU EDJV GULQNV cooking ingredients, and household cleaning products. The sachet trend has continued to expand due to shrinking income levels, widespread hardship, and rising poverty amongst the SRSXODFH 7KHVH XQGRXEWHGO\ KDYH FDXVHG the growing adoption of sachet packs in the country recently. For companies, the tough operating environment, decrepit LQIUDVWUXFWXUH FRQWLQXRXV LQÁDWLRQ SRURXV ERUGHUV DQG ZDQLQJ EXON FRQVXPSWLRQ have further heightened the need for the VDFKHW PRGHO·V DGRSWLRQ %RWK LQGLYLGXDOV DQG EXVLQHVVHV DUH IHHOLQJ WKH ZHLJKW RI WKH economic challenges, and over time, the GLVSRVDEOH LQFRPH RI FRQVXPHUV FRQWLQXHV WR ZDQH %HVLGHV WKH FRQVHTXHQFHV RI WKH QRYHO FRURQDYLUXV &29,' SDQGHPLF WKH economy in recent times continued to worsen the situation. They are majorly eroding the purchasing power of many individuals, households, and even companies. The current economic situation has also made products and services more expensive nationwide. In fact, many manufacturing companies are witnessing reduced patronage of large LWHPV EHFDXVH QRW HYHU\RQH FDQ DͿRUG EXON purchase or regular packs, and consumers continue to look for cheaper alternatives. 6R ´VDFKHWLVDWLRQµ LV D EXVLQHVV VWUDWHJ\ and an alternative to engaging customers continually in this trying time. The idea is WR PDNH SURGXFWV DͿRUGDEOH WR FRQVXPHUV particularly the majority of daily income earners who constitute a large chunk of the country’s population. Many companies at this time of high LQÁDWLRQ DQG HFRQRPLF XQFHUWDLQW\ KDYH UHVROYHG WR DGRSW WKH ´VDFKHWLVDWLRQµ PRGHO

to give some of the poorest people in Nigeria easy access to everyday household essentials and for continuous patronage within the consumer goods space. Also, for the companies this time, it is a way to increase sales among the customers who FDQQRW DͿRUG WR EX\ LQ ODUJHU TXDQWLWLHV Even though the sachet model saves ZDVWDJH ZLWK SRUWLRQ FRQWURO LW UHTXLUHV minimum packaging materials, less storage, low shipping and transportation cost, and most importantly, it is pocket friendly to the end-users. However, the painful truth and disclosure are that this WUHQG LV DQ LQGLFDWLRQ RI XQVXVWDLQDEOH FRQVXPSWLRQ LQFRPH LQHTXDOLW\ XQDͿRUGDELOLW\ DQG WKH ZLGH JDS EHWZHHQ the haves and have-nots, the dwindling economy, and a high level of poverty in the FRXQWU\ 6XSSRUWDEO\ WKH 1DWLRQDO %XUHDX RI 6WDWLVWLFV 1%6 LQ WKH ´ 3RYHUW\ DQG ,QHTXDOLW\ LQ 1LJHULDµ UHSRUW KLJKOLJKWV WKDW SHU FHQW RI WKH WRWDO SRSXODWLRQ RU DOPRVW PLOOLRQ SHRSOH OLYH EHORZ WKH FRXQWU\·V SRYHUW\ OLQH 7KLV ÀJXUH HYHQ appears underestimated, in my opinion, due to a lack of data on the extremely huge informal sector of the country. However, these sachet products give the poor in the country access to everyday household HVVHQWLDOV EXW FRPSURPLVH WKH VXVWDLQDEOH consumption and the environment. )URP REVHUYDWLRQ KDUGO\ LV WKHUH DQ\ market-leading FMCG company in Nigeria has not manufactured a single-serve pack VDFKHW SDFNHG SURGXFW WR FDSWXUH WKH SRRU FRQVXPHUV 7R EXWWUHVV WKH DGRSWLRQ of this model, the various operators in the open markets in the country unknowingly SUDFWLFH WKH VDFKHW PRGHO RQ SHULVKDEOHV YHJHWDEOHV DQG IRRGVWXͿV IUHHO\ $OO GXH to economic reasons and the waning purchasing power of the consumers. The UHJXODU HVVHQWLDO FRQVXPDEOHV WKDW DUH QRWLFHDEOH LQ VDFKHW DUH PLON GHWHUJHQW FRRNLQJ RLO FHUHDO PDUJDULQH OLTXRU pepper mix (pepper, tomatoes and RQLRQV WRRWKSDVWH VXJDU WRPDWR VDXFH VKDPSRR FRUQÁDNHV VHDVRQLQJ VSLFHV ELVFXLWV GLVKZDVKLQJ OLTXLG VKDYLQJ VWLFNV FHUHDOV EOHDFK /LSWRQ VDFKHW ZLWK MXVW WZR WHD EDJV GLDSHU VDFKHW ZLWK MXVW two units, disinfectant and energy drink amongst others. From the sampled opinion, this sachet WUHQG LV RQ WKH LQFUHDVH LQ D ELG IRU companies to continue to increase market share, increase market penetration, and remain competitive. The important WKLQJ LV WKDW WKH WUHQG LV QRZ EHFRPLQJ increasingly popular, and even choice EUDQGV DUH LQFOXGHG LQ WKH JURZLQJ ZDYH 7KLV WUHQG HQFRXUDJHV TXLFN VHOO DQG increases competitiveness in consumer JRRGV ZKHUH DͿRUGDELOLW\ LV D ELJ LVVXH Importantly, companies need to note that the population of the poor in the country continues to grow, indicating that those XQZLOOLQJ WR ÁRZ ZLWK WKH VDFKHW WUHQG PD\ EH DW ULVN RI UXQQLQJ RXW RI EXVLQHVV Considering the country’s economic griefs, WKH WUHQG LV EHQHÀFLDO UHJDUGLQJ SDWURQDJH VDOHV DQG EXVLQHVV FRQWLQXLW\ 7KH VDFKHW PRGHO LV XQGRXEWHGO\ RQ WKH LQFUHDVH LQ the country, and it is currently a winning strategy to sell what a large percentage of WKH SRSXODWLRQ FDQ DͿRUG Dr. Olubiyi is an Entrepreneurship & Business Management expert

26 4

T H I S D AY

MONDAY JANUARY 30, 2023

EDITORIAL

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

THE BANE OF DIESEL ECONOMY The authorities must do more to generate enough energy to power the economy

hour (kWh) or more. The REA equally pointed out the hat Nigeria still relies heavily on diesel health and environmental impact, just as the World generators to run her economy raises Bank has explained that diesel generators contribute several questions. Speaking during HPLVVLRQV RI À QH SDUWLFXODWH PDWWHU 30 ZKLFK the U.S.-Africa Leaders Summit in include black carbon to the environment. The bank Washington DC, last month, President even stated that the PM is a predisposing factor for Muhammadu Buhari pledged the respiratory and cardiopulmonary disease leading to commitment of Nigeria to eliminating the use of increased hospital visits and risk of premature death. petrol and diesel generators in the country by 2060. A country the size of Nigeria should never run That, he added, has necessitated the deployment of on diesel generators which are costly to it and the renewable energy, particularly solar in the country. environment. ‘All On’, a seeded company of an oil But given what he described as the “considerable major Shell, has advised that Nigeria should initiate À QDQFLDO DQG WHFKQLFDO VXSSRUWµ WR DFKLHYH WKH JRDOV and implement a graduated and weighty tax system on there are questions about the feasibility of the idea. the production, assemblage No fewer than 70 per and importation of power FHQW RI 1LJHULDQ À UPV generating sets that use according to the World diesel and petrol. But while Bank, rely on generators How is it that we have found it extremely difficult to fix our public we subscribe to the view for their electricity. This that the country should revelation corresponds power system and grow its capacity to levels that would ensure the IRFXV RQ À [LQJ LWV SXEOLF with a similar data power supply system and permanent removal of diesel generators in our economy? from Nigeria’s Rural FRQWUROOLQJ WKH LQÁ X[ RI (OHFWULÀ FDWLRQ $JHQF\ diesel generators into the (REA) that Nigerians economy, it is not going to spend an estimated $14 billion annually on smallT H I S D AY be done by delivering speeches. scale diesel generators in the absence of reliable EDITOR SHAKA MOMODU In its recommendations on the way forward for the DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA supply from the national grid. To begin with, how is MANAGING DIRECTOR ENIOLA BELLO country, ‘All On’ had proposed that the importation LW WKDW ZH KDYH IRXQG LW H[WUHPHO\ GL΀ FXOW WR À [ RXU DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU of generators be discouraged with the introduction public power system and grow its capacity to levels CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI of additional levies in the form of Import Adjustment that would ensure the permanent removal of diesel EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN Tax (IAT), raising it from the current rate of between generators in our economy? How have we even failed MANAGING EDITOR BOLAJI ADEBIYI 15 per cent and 35 per cent on varying categories of THE OMBUDSMAN KAYODE KOMOLAFE to implement the content of a regulatory guideline generating sets to 50 per cent. The Shell subsidiary on importation of generators into Nigeria which the had asked the country to set a timeline of three years Nigerian Electricity Regulatory Commission (NERC) to kick out generators in the country and transit from passed in August 2011 to amongst other objectives T H I S D AY N E W S PA P E R S L I M I T E D using such fossil fuel generating sets to clean energy FKHFN WKH LQÁ X[ RI JHQHUDWRUV LQWR WKH FRXQWU\ DQG EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA sources such as solar. Raising duties on petrol and consequently push for improvement in public power GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, diesel generators, ‘All On’ argued would enable the ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI supply? When will Nigeria get its power sector to DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, JURZWK RI FOHDQ HQHUJ\ VRXUFHV PRVWO\ LQ RͿ JULG work and what is it doing about the prevalent abuse ANTHONY OGEDENGBE communities, but suggested that industries located of its environment with diesel generators? DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI in such communities could be exempted from the 7KH 5XUDO (OHFWULÀ FDWLRQ $JHQF\ 5($ LQ LWV UHSRUW SNR. ASSOCIATE DIRECTOR ERIC OJEH proposed regulation provided they are able to satisfy RI RSSRUWXQLWLHV LQ 1LJHULD·V RͿ JULG HOHFWULFLW\ ASSOCIATE DIRECTOR PATRICK EIMIUHI certain conditions. market, explained that the generating sets Nigerians CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI Sadly, people in government are interested more in DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO XVH WR SRZHU WKHLU KRPHV DQG R΀ FHV DUH LQH΀ FLHQW DQG TO SEND EMAIL: fi rst name.surname@thisdaylive.com delivering speeches. expensive – costing on the average, $0.40 per kilowatt

Letters to the Editor Letters in response to speciﬁc publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS THE CHILDREN CAST ADRIFT IN NIGERIA It would appear that there is no end to the obstacles children have to surmount as the youngest members of Nigeria’s populaWLRQ :KHWKHU LW LV EHLQJ SLFNHG RͿ OLNH FKHUULHV E\ GHDGO\ GLVHDVHV OLNH FKROHUD EDWWHUHG E\ PDOQXWULWLRQ RU WRVVHG DOO RYHU E\ FRQÁ LFW it appears there is always something for children to contend with in Nigeria. The many challenges children face accusingly point the À QJHU DW D FRXQWU\ VKRFNLQJO\ XQSUHSDUHG IRU D IXWXUH RU DW OHDVW D prosperous one. A country where children have become practice targets for the many archers of death who roam freely but forcefully is a country unwittingly digging its own grave. It is telling enough that Nigeria’s out-of-school children are in their millions. It is also telling that schools which hitherto used to be safe spaces for children to thrive have recently become the stomping grounds of bandits who brush through the bushes of Nigeria seeking child captives. For a country in which 70% of its 217 million people are children and youths, alarm bells recently rung when the United Nations Children’s Fund (UNICEF) disclosed that 75% of Nigerian children aged between seven and 14 years could neither read nor solve simple mathematics. The chilling revelation was made by Ms. Christian Munduate, the UNICEF Country representative, to mark this year’s

International Day of Education (IDE) which held on 24th January 2023 who also called on Nigeria’s next president to prioritize education and children’s welfare. Perhaps, the only positive about what is otherwise an utterly alarming situation is that Nigeria’s general election is at hand. There is very little doubt that the predicament of many a Nigerian child when the subject is literacy is a function of many years of leadership failure. Nigeria’s dereliction in education is well documented. All over the country, schools and their students have known many years of neglect. It is not uncommon to see many schools in the rural areas of Nigeria that have fallen into utter disrepair. Broken windows and doors wedged into decrepit buildings usually greet many Nigerian FKLOGUHQ RQ WKHLU YHU\ À UVW GD\ LQ VFKRRO 7KHQ WKHUH LV WKH WHUULI\LQJ VSHFWUH RI GLVJUXQWOHG WHDFKHUV ZKR GHVSLWH WKHLU KHURLF HͿ RUWV DUH still forced to come up short. The toll the dysfunction so forcefully present in Nigeria has taken on education is one that cannot easily be ignored. Recently, the number of out-of-school children surged to 20 million. With insecurity having joined poverty as the chief factors grinding down families in Nigeria, many children have been forced to stop their education. The results are clear for all to see in the staggering number of chil-

dren who cannot do what so many of their peers around the world FDQ HͿ RUWOHVVO\ GR What does the future hold for Nigerian children? What kind of future if any can Nigeria children who grow up under this kind of dysfunction look forward to? Education is key. Education has within it an unmatched potency to unlock hitherto unreachable opportunities and possibilities. Education is an equalizer that is in many ways also an elixir for most of the darkness the mind can conjure. Yet, in Nigeria, each passing day casts quality education as a luxury reserved only for the elite. Every day presents fresh challenges for education in Nigeria from top to bottom. It was only in 2022 that Nigerian university underJUDGXDWHV VDZ HLJKW PRQWKV VKDYHG RͿ WKHLU DFDGHPLF FDOHQGDU DV GLVJUXQWOHG OHFWXUHV GRZQHG WRROV ZKLOH VHOI VHUYLQJ SROLWLFLDQV Á LW ted from place to place like killer wasps. It is good thing that Nigerians will soon go to the polls. At the polls, Nigerians can choose to recycle politicians who have no plans WR LPSURYH HGXFDWLRQ JLYHQ WKDW WKH\ FDQ DOZD\V À [ WKHLU FKLOGUHQ into best schools abroad, or chose leaders who because they value education will make quality education accessible to all. Kene Obiezu, @kenobiezu

T H I S D AY ˾ MONDAY, JANUARY 30, 2023

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

J A N U A R Y

S & P INDEX

2 7 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Despite Challenges, Credit to Private Sector Rose by 19.7% to N41.80trn in 2022

Kayode Tokede Despite severe macro economic challenges, credit to private sector increased to N41.80 trillion in 2022, representing an increase of 19.7 per cent or N 6.88 trillion Year-on-Year (YoY) from N34.92 trillion reported in 2021. In its latest money and credit statistics, the Central Bank of Nigeria (CBN) revealed that the 2022 N41.80 trillion credit to private sector was an all-time high and was driven

by double-digit inflation, among other domestic and foreign macro economic challenges. Analysis of the apex bank’s statistics showed that N35.18 trillion was reported as credit to private sector in January 2022 and it increased to N35.99 trillion in February. It crossed the N36 trillion mark in March to N36.47trillion and rose sharply by 2.7 per cent to N37.45trillion in April. It sustained the increase in May reaching N38.46 trillion and added

N776.8 billion to reach N39.23trillion in June. Further analysis of the CBN numbers showed that credit to private rose sharply by 1.6 per cent to N39.85 trillion in July and reached N40.20 trillion in August. In the last quarter of 2022, credit to private shows modest growth as Deposit Money Banks (DMBs) slow down lending to real sector. The statistics revealed that credit to private sector closed September at N40.52trillion, gaining 0.8 per cent

to close October at N40.84 trillion. For November, the CBN reported N41.58 trillion and December, it closed at N41.8 trillion, representing an increase of 0.53 per cent MoM. The CBN had last year disclosed that credit to manufacturing, general commerce, and oil & gas are benefiting from DMBs lending to real sectors despite double-digit inflation, increase in production cost, scarcity of foreign exchange and insecurity in the country. Speaking on the figures, the

Chief Executive Officer, Wyoming Capital and Partners, Mr. Tajudeen Olayinka explained that what usually drives credit growth is demand for transaction money. According to him, “But what one should be concerned about is the relative contribution of the sector to country’s economic growth. Since N6.88 trillion credit growth to private sector has not translated to significant economic growth for Nigeria, it follows therefore that credit growth reported for 2022 was just a

mere money illusion, and that what was required to trigger economic growth could be much more than the reported figure.” On his part, the Chief Operating Officer, InvestData Limited, Mr. Ambrose Omordion noted that post-covid-19 business activities contributed to N41.8 trillion credit to private sector as of 2022. He expressed that the recent increase in CBN’s Monetary Policy Continued on page 29

N5.5bn Debt: Supreme Court Affirms Judgment against Honeywell, Others over Debt to Ecobank Alex Enumah in Abuja The Supreme Court has upheld an earlier judgment of the Court of Appeal given against Honeywell Flour Mills Plc and two other firms in a dispute with Ecobank over unsettled debt. Honeywell and its sister firms - Anchorage Leisures Limited and Siloam Global Limited - have been in dispute with their bank, Ecobank over disagreement about the settlement of a N5.5 billion debt.

Although the three companies claimed to have paid N3.5 billion in final settlement of their indebtedness to the bank, Ecobank has insisted that they were still in debt. In a judgment on Friday, a five-member panel of the apex court upheld the arguments by Ecobank’s lawyer, Kunle Ogunba (SAN) and affirmed an earlier judgment of the Appeal Court, Lagos, which set aside the May 21, 2019 decision of the Federal High Court in Lagos.

In the lead judgment, Emmanuel Agim resolved two out of the three issues identified for determination in favour of the appellants and one in favour of the respondent. Justice Agim faulted the Court of Appeal for holding that the appellants lacked locus standi to have instituted the suit at the Federal High Court in Lagos. He also held that the Court of Appeal was wrong to have held that the trial court lacked jurisdiction to have heard Honeywell’s

case. Justice Agim said: “This appeal succeeds in part in respect of issues numbers one and two, and failed in respect of issue number three. Accordingly, I hold that the appellants have the locus standi to sue and that the trial court has the jurisdiction to determine the suit. “I affirm the judgment of the Court of Appeal, setting aside the decision of the Federal High Court, granting the reliefs claimed for by the appellants. I hold that the

appellants’ claim at the trial court fails and it is hereby dismissed. “The appellants shall pay the cost of N1million to the respondent. The cross appeal, was subsumed in the argument of the main appeal. It is no longer relevant,” Justice Agim said. Honeywell, Anchorage and Siloam had on August 6, 2015, sued Ecobank at the Federal High Court in Lagos over repayment of the N5.5 billion debt. The companies urged the

trial court to declare that “having paid the sum of N3.5 billion in cumulative settlement of their total outstanding indebtedness” (of N5.5 billion) to Ecobank, “they owned no further debt obligation” to Ecobank “arising from their banker-customer relationships.” They also urged the court to hold that Ecobank “was obligated to issue letters of discharge, release collaterals by which the prior Continued on page 29

M A R K E T D ATA A S AT F R I D AY, J A N U A R Y 2 7 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

10.335, 00 10.339, 00 10.129, 00 11.289, 00 10.543, 00

Yield 11.02 11.71 11.98 12.24 12.50

Change Updated Time (%) January -0.01 13, 2023 January 0.11 13, 2023 January -0.01 13, 2023 January 0.00 13, 2023 January 0.00 13, 2023

BILLS MATURITY

Discount

Yield

NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

1.53

1.54

1.83

1.84

2.43

2.44

NTB 11May-23

2.70

2.72

Change Updated Time (%) January 0.00 13, 2023 January 0.00 13, 2023 January 0.01 13, 2023 January -0.31 13, 2023 January -0.54 13, 2023

OTC F X F U T U R E S

CPS MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23 MREP CP VI 11-APR-23

Change Updated Time (%) January 8.08 8.20 -0.24 13, 2023 January 13.12 13.50 -0.33 13, 2023 January 9.52 9.74 -0.39 13, 2023

Discount Yield

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CONTRACT TENOR Contract (MONTH) NGUS JAN 25 1 2023 NGUS FEB 22 2 2023 NGUS MAR 29 3 2023 NGUS APR 26 4 2023 NGUS MAY 31 5 2023

Current Rate Updated Time ($/₦) January 469.87 13, 2023 January 472.05 13, 2023 January 474.23 13, 2023 January 476.42 13, 2023 January 478.60 13, 2023

MONDAY, JANUARY 30, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

FG Addressing Bureaucratic Bottlenecks, Insecurity NIDCOM Assures Russian Investors Gilbert Ekugbe The federal government has assured Russian investors of Nigeria’s commitment to attracting and protecting Foreign Direct Investments (FDIs) in the country. The Chairman and Chief Executive Officer, Nigerians in Diaspora Commission, (NIDCOM), Abike Dabiri-Erewa, at a business forum organised by Nigeria in Diaspora Organisation (NIDO), Russian Chapter, said Nigeria remains the investment destination for FDIs, pointing out that there is no where in the world without challenges assuring Russian investors that bureaucratic challenges and insecurity are being tackled. In her words: “The message is very important because there are lots of opportunities in Nigeria. There are many Nigerians in Russia saying that they want to come back home and invest as Russia is also looking to Africa for investment. We have our challenges, there is no doubt about the fact that Nigeria is still a destination for investment.” Meanwhile, the Chairman, NIDO Russia, Sampson Uwem-Edimo, stated that the trade volume between Nigeria and Russia was about $900

million which he described as very low, adding that export from Nigeria to Russia stood to about $37.6 million. “We want to make Nigerian companies and Nigerians living in Russia cooperate with Nigerians living here, producing agricultural products to ship it directly to Russia to balance the trade,” he said. “There is no where you cannot invest in Nigeria. We are blessed. We are solving bureaucratic challenges to attract investments. We will solve our problems. Insecurity is still a challenge, but it is being tackled. The purpose of this event is about telling the world that there are many opportunities for investment in Nigeria. It is for us to sell ourselves and not de-market ourselves,” she added. Earlier, Nigeria’s Ambassador to Russia, Prof. Abdullahi Shehu, said since the establishment of the Diaspora Commission Commission, NIDO has become one of the instruments of the nation’s foreign policy. He noted that one of the objectives of the forum is to explore possibilities of facilitating payments between Nigerian and Russian businesses, expressing hope that the outcome of the event would lead to attracting the

financial sector to adopt a Memorandum of Understanding (MoU) with their Russian counterparts to facilitate payment solutions to overcome the challenges of doing business under the geopolitical situation in Russia. On his part, the Senior Special Assistant on Diaspora and Foreign Relations to the Lagos State Governor, Jermaine Sanwo-Olu, said the Lagos State government is the most Diaspora friendly government in the federation, pointing out that Lagos State is the safest city in the country for investment destination. He stated that State government is always looking for new ways to support new businesses to come to Lagos, saying that through the last Ehingbeti Summit, seven resolutions were developed to encourage diaspora businesses to come back home to invest in the State. The Chief Executive Officer, La Cubana Group Russia, Mr. Gerald Obinna, said the purpose of the forum was to attract lots of Nigerians in Russia to invest in Nigeria, but added that Nigerian investors in Russia are skeptical about investing in the country due to insecurity and bureaucratic challenges hindering the business community.

IBEDC to Inject N14bn in Infrastructure, Says MD Kemi Olaitan in Ibadan The Ibadan Electricity Distribution Company (IBEDC), has announced its commitment to inject about N14 billion into improving service delivery in its franchise areas. The Managing Director of the distribution company, Mr. Kingsley Achife, made the disclosure while speaking with journalist at the company’s headquarters, in Ibadan, the Oyo state capital. He said the fund would be deployed to addressing challenges in the areas of technical infrastructures, equipment and others spheres towards ensuring effective and optimal services to its customers. According to him, plan is underway to fix almost 500 transformers that are faulty within the its areas

while additional 300 would be replaced in order to relieve the suffering of existing customers who could not be served due to faulty transformers in their communities. He said, “For IBEDC, over N14 billion is already pledged to go into the system, there is of course the PIP which we are all waiting to see if it will be a reality or not. But we have already keyed into the programme from the Federal Government. Most of the N14 billion investments would be for our technical infrastructures. We also looking at new transformers, straightening our networks is also one of the things, an improved interface between us and transmission and there are a whole lot that will happen. “Our transformer workshops are

already working and we hope they will do between a hundred and 200 transformers within this year. For the N14 billion to be injected, a lot of work has been done in the process, we are just waiting for the money to come in. When it comes in, a lot of it will be on our equipment and we are looking between 0-18 months at least. But we are hoping it would be done in the first 12 months but the reality of deployment, when equipment come makes us to target the 0-18months.” The IBEDC boss lauded the federal government for its various interventions most especially through investments which are loans with payback agreement, stating that the distribution company benefitted from the mass metering programme by the government.

Expert Applauds FG for Increased Oil Production Olusegun Samuel in Yenagoa An indigenous player in the oil and gas sector, Mr. Victor Ekpenyong, has applauded the Federal Government for the recent rebound in oil production and return as largest oil producer in Africa. Oil production data from Organisation of Petroleum Exporting Countries (OPEC) indicate that Nigeria produced an average of about 1.35 million and 1.23 million barrels of crude oil daily in December and November 2022 respectively. The OPEC report said that Nigeria has also seen improved oil output for November 2022, a

development that saw Angola and Algeria trail in second and third positions respectively. Ekpenyong who reacted to the development on Wednesday described the rebound as a great development for the Nigerian oil industry. He recalled that prior to the improvement recorded in November and December, a lot of oil workers lost their jobs in 2022, while some companies shut down due to unsustainable oil theft and pipeline vandalism. “It was a great relief to know that Nigeria ramped up production in the last quarter of last year as it produced 1.35 million

barrels per day (bpd). I would like to commend the Minister of Petroleum and President of Nigeria, Muhamadu Buhari, and Minister of State for Petroleum for the efforts put in to ensure that we optimise production in the last quarter of 2022. “I equally crave their indulgence to continue relating with the local communities who dwell around pipeline installations and other oil and gas assets. We can really do more because we do have the capacity to produce over 2.53 million bpd. Let’s see how we can optimise this a little further to get the resources we need for running this country,” Ekpenyong said.

Osun Economy: Governor Adeleke Woos Investors, Partners Yinka Kolawole in Osogbo The Executive Governor of Osun State, Senator Ademola Adeleke has intensified his drive for enhanced partnership with local and multinational companies for direct investment in the state economy. Governor Adeleke demonstrated this with a working visit to Lagos state recently. Recently, the governor laid out the vision of his government for a public-private partnership relationship with a view to address the huge Infrastructure deficit in his state and jump start the state economy that is weighed down by heavy debt. In several meetings with cap-

tains of industry and chieftains of multilateral institutions and organizations, Adeleke specifically solicited investment on roads, agriculture, education, health, sports and information technology, During the launching of a subsidiary of Dangote Holdings in Lagos, the governor had expanded interactive sessions with top federal ministers, critical heads of federal agencies and managing directors of leading private companies across the sectors. Speaking about his experience so far, Governor Adeleke reiterated his resolve to jumpstart the state economy despite the paucity of funds, explaining his strategies as

“PPP arrangement mixed with personal networking with business leaders locally and internationally. “Our administration is being very innovative. Our five point agenda are being implemented through PPP partnership. So I have laid out a state plan to most industry leaders I met and they are eager to support Osun state. “I have met several important business and government leaders on this Lagos trip. It has been very tight-meetings back to back. And the good thing is that we are recording successes. I will update our people very soon on the positive outcomes we are achieving.

Why Employers Should Ensure Prompt Remittance of Employees’ Pension Contributions N3.17bn pension liabilities recovered from 97 defaulters in 2022 Employers evading or delaying the remittance of their employees’ deducted pension contributions are flouting the Pension Reform Act 2014 (PRA 2014). The National Pension Commission (PenCom) has established an effective mechanism to recover outstanding pension contributions and liabilities, including penalties, from defaulting employers. In 2022, PenCom recovered N3.17 billion from 97 defaulting employers. N1.79 billion was recovered as principal contributions, while N1.38 billion was the penalty paid by employers for not remitting the pension contributions as and when due. Cumulatively, from June 2012, when the recovery exercise commenced, to 31 December 2022, PenCom has recovered PENCOM DG, Aisha Dahir-Umar N24.15 billion from defaulting employers, (employer 10% and employee 8%). It should being N12.25 billion principal contributions be noted, however, that the 18 percent total and N11.90 billion penalties. PenCom is taking monthly pension contribution is a minimum, legal steps to recover pension contributions as the employer may elect to increase the rate from 66 recalcitrant employers last year. or bear the whole burden on behalf of the The recoveries were made by the Commission employee. in line with Section 11 of the PRA 2014, which Any employer who fails to deduct or remit provides that the employer shall deduct, at the contributions within the stipulated time source, the monthly contribution of every frame of seven working days from the day employee in his employment and not later salaries are paid shall, in addition to making than seven working days from the day the the remittances already due, be liable to a employee is paid his salary, remit an amount penalty, which shall not be less than 2 percent comprising the employee’s contribution and of the total contributions that remain unpaid for the employer’s contribution to the custodian each month or part of each month the default specified by the Pension Fund Administrator continues and the amount of the penalty shall (PFA) of the employee. be recovered as a debt owed and paid into PenCom invoked Sections 92 and 93 of the the employee’s RSA. PRA 2014, which empowers it to authorise The recovery process requires the RA to the examination, inspection or investigation diligently follow the outlined steps, which of an employer relating to pension funds or commences with obtaining a list of assigned assets. The aim is to ensure compliance with defaulting employers and letters of introducthe provisions of the PRA 2014 by private sector tion from PenCom to the employer. The RA employers and mitigate the complaints from is granted access by the employer to review employees and PFAs on the non-remittance pension records to determine pension liabilities. of pension contributions by some employers. After that, the RA issues demand notices to Accordingly, PenCom appoints Recovery the employer to remit the outstanding pension Agents to examine private sector employers liabilities and penalties. to determine their compliance with the PRA Consequently, the RA follows up with the 2014. The recovered principal contributions defaulting employers to ensure remittances of and the penalties recovered are paid into outstanding pension contributions. Proof of employees’ RSAs to compensate for the payment is obtained and forwarded to PenCom lost income due to non or late remittance of for onward confirmation by the PFCs. pension contributions by employers. PenCom The recovery process is still ongoing, and and PFAs bear the recovery costs of the RAs. substantial recoveries of outstanding contribuTherefore, it comes at no cost to Retirement tions and penalties are being recovered from Savings Account (RSA) holders. employers. The PRA 2014 further stipulates that every Finally, it is pertinent to note that PenCom eligible employee shall maintain an RSA with also prosecutes recalcitrant employers who any PFA. Once an RSA is opened, the employee persistently default in remitting pension must inform their employer by submitting contributions. The Commission encourages the RSA Personal Identification Number (PIN) employees to report employers who are not issued by the PFA. paying their pension contributions or are Subsequently, the employer must deduct, at not sending the total 10 percent employer source, and remit to Pension Fund Custodian and 8 percent employee components of the (PFC) a minimum of 18 percent contribution contributions specified in the PRA 2014.

T H I S D AY ˾ MONDAY, JANUARY 30, 2023

BUSINESSWORLD

STATUS REPORT

Eterna’s Improving Fundamentals Lift Profit

terna Plc surpassed five-year profit generation and migrated from 2021 audited financial year loss to impressive performance in its unaudited financial statement for year ended December 31, 2022. The impressive 2022 unaudited results came on the backdrop of a significant increase in revenue and a drop in finance cost as the group declared N2.42 billion profit before tax from loss before tax in 2021 and N1.77billion profit after tax in 2022 from N1.1billion loss reported in 2021. Eterna had posted over N2billion profit in 2017 and till 2021, it announced mixed performances that impacted on its dividend payout to shareholders and stock price appreciation. The petroleum marketing company in the year under review reported an increase in revenue to N117.46 billion, representing an increase of 43per cent from N82.2billion in 2021. The group benefited from the increasing demand for petroleum products as foreign and domestic business activities expanded in 2022. The average retail price paid by consumers for Premium Motor Spirit (Petrol) for December 2022 was N206.19 per litre, indicating a 24.38er cent increase when compared to N165.77 recorded in December 2021, according to National Bureau of Statistics (NBS) report. The average retail price of Automotive Gas Oil (Diesel) paid by consumers in December 2022 was N817.86 per litre, an increase of 182.64per cent from N289.37 per litre recorded in the corresponding month of the previous year, NBS latest report had revealed. However, the group’s revenue breakdown revealed that Fuel generated N97.277billion

in 2022, an increase of 51 per cent from N64.49billion in 2021, while revenue from lubricant rise to N15.51billion in 2022, representing an increase of 1.44 per cent from N15.29billion in 2021. In addition, revenue from “Trading” dropped by 83 per cent to N183million in 2022 from N1.08billion inn 2021 as “Others” revenue rose significantly by 233 per cent to N4.5billion from N1.35billion reported in 2021. In terms of cost of sales, Eterna reported N108.34 billion in 2022 unaudited results as against N77.93billlion in 2021 audited result and accounts, brining CoS/Revenue to 92.24per cent in 2022 from 94.8per cent in 2021. As inflation rate closed the year under review at per cent, the group show its materials cost moving to N107.01 billion in 2022 from N77.05 billion reported in 2021 as Delivery cost rose significantly by 50.06per cent to N1.33 billion in 2022 from N885.46 million in 2021. The interplay between revenue and cost of sales boosted gross profit to N9.12billioni in 2022 from N4.26billion in 2021 as gross profit margin increased to per cent in 2022 from per cent in 2021. Despite double-digit inflation rate, the management in the year under review was prudential in managing operating expenses. The group’s total operating expenses moved to N6.15billion in 2022, representing an increase of 38 per cent from N4.47billion reported in 2021. The increase in total operating expenses was driven by 20.1 per cent

increase in Selling and distribution expenses to N283million in 2022 from N235.66million in 2021 as General and administrative expenses hits NN5.87billion in 2022 from N4.23billion reported in 2021. The group also announced N250.3million non-core business income in 2022 from N231.63million in 2021, fuelled by rental income. Furthermore, the group reported N41.05billion interest income on short-term bank deposits in 2022 from N9.09billion in 2021 and reported N1150.65million foreign exchange loss in 2022 from N210.01million foreign exchange gain in 2022. Eterna also reported N690.67million finance cost in 2022, representing a decline of 51.6per cent from N1.18billion in 2022. Key contributing factor to decline on finance cost was 52 per cent drop in interest on loan to N491.5million in the year under review from N1.02billion reported in corresponding year. On the growth in profit, the Group closed 2022 with N1.36 Earnings Per Share (EPS) as against N0.84 loss in 2021 financial year. Balance sheets emerges stronger amid increasing borrowing The balance sheet of Eterna in 2022 unaudited financial statement showed stronger assets despite growing shortterm borrowing. The group’s total assets increased to N54.27 billion in 2022 from N46.08billion in 2021, representing an increase of 17.77 per cent. As noncurrent assets dropped to N14.97billion in 2022 from N15.16billion in 2021 as current assets grew by 27.1 per cent

to N39.3billion in 2022 from N30.93billion in 2021. The group announced N40.38billion total liabilities in 2022 from N33.96billion in 2021. This means that Eterna total liabilities proportion to total assets moved to 74.4per cent in 2022 from 73.7per cent in 2021. In addition to balance sheet position, Eterna reported drop in non-current liabilities to N1.27billlion in 2022 from N2.33billion in 2021 as current liabilities increased to N39.1billion in 2022, representing an increase of 24 per cent from N31.63billion in reported 2021. However, total equity increased to N13.89billion in 2022 from N12.12billion reported in 2021.

REMARK While commenting on the group third quarter ended September 30, 2022 performance, the Managing Director/ Chief Executive Officer of Eterna, Mr Benjamin Nwaezeigwe had said the growth trajectory was on the back of increased operating activities, improved efficiency, staff dedication and a new energy in the organisation brought about by the vision of the new leadership. According to him, the company is still committed to actualize its goal to be Africa’s preferred Energy Company while providing efficient energy solutions. “We will continue to focus on delivering value to our shareholders as we continue to drive the growth and profitability of our business,” he stated He noted that the company would actively continue to play across the energy value chain covering the production, transportation, and distribution of energy solutions vital for economic growth and development.

N5.5BN DEBT: SUPREME COURT AFFIRMS JUDGMENT AGAINST HONEYWELL, OTHERS OVER DEBT TO ECOBANK indebtedness was secured.” The three firms prayed the court to compel Ecobank to “update” their status on the “Credit Risk Management System Portal of the Central Bank of Nigeria.”

Responding, Ecobank argued that an agreement was reached between it and the three firms on 22 July, 2013, “for a definite settlement of N3.5billion to be paid in terms of N500million immediately and

the balance of N3billion before the exit of the CBN examiners from” Ecobank’s offices. Ecobank argued that the repayment agreement period was for six months as it rejected Honeywell

and its sister companies’ request to “pay the balance over a one-anda-half-year period in three equal half-yearly installments.” The bank contended among others, that the debt repayment

agreement “lapsed in August 2013.” In the judgment, Justice Ayokunle Faji of the Federal High Court, Lagos held in favour of the firms and granted all their reliefs. Ecobank appeal the decision at

the Court of Appeal in Lagos, which in its decision, voided the judgment of the Federal High Court. This made Ogunba to, on behalf of Ecobank, proceed to the Supreme Court.

DESPITE CHALLENGES, CREDIT TO PRIVATE SECTOR ROSE BY 19.7% TO N41.80TRN IN 2022 Rate (MPR) disrupted credit to private sector, stressing that cost of production had witnessed an increase and impact on local economy. Also commenting, the Vice President, Highcap securities limited, Mr. David Adnori, said the slow growth in credit to private sector in four quarter (Q4) demonstrated how double-digit inflation has affected nominal demand for Naira by private sector businesses, given continuing rise in input cost and the usual burden of imported inflation.

“Since this nature of demand for money may not necessarily translate to improved productivity, it follows, therefore, that economy may not also benefit in terms of additional jobs or output growth. This is just evidence of the unstable state of the macroeconomic environment in Nigeria,” Adnori added. The Deputy Governor, Financial System Stability, CBN, Aisha Ahmad, at the last Monetary Policy Committee (MPC) in 2022 stated that the continued credit expansion particularly to output-enhancing sectors is expected to further

support economic activities. “However, sustained regulatory vigilance is required to mitigate any potential crystallization of credit risk in the financial system in view of lingering macroeconomic risks,” she said. The statistics also revealed that currency outside banks dropped to N2.57 trillion in 2022, representing a decline of 12.6 per cent YoY from N2.94 trillion reported by the CBN in 2021. Analysts have said the sustained tight monetary policy stance and the CBN’s currency redesign effort

impacted on the drop in currency outside banks. In addition, the statistics revealed currency in circulation dropped to N3.01 trillion in December 2022, a 8.4 per cent drop in its Year-till-Date performance. The CBN had reported N3.29 trillion currency in circulation in January 2022. Analysts attributed the decline in currency in circulation to the monetary policy of the CBN. The governor of CBN, Mr. Godwin Emefiele in a statement during the weekend said the

currency in circulation was only N1.4 trillion as of 2015. According to him, “As at October 2022, currency in circulation had risen to N3.23trillion; out of which only N500 billion was within the banking industry and N2.7 tillion held permanently in people’s homes. Ordinarily, when the CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN. So far and since the commencement of

this program (currency swap), we have collected about N1.9 trillion; leaving us with about N900billion (N500 billion + N1.9 trillion).” Commenting on decline in currency in circulation in 2022, Adnori said, “The recent increase in interest rate, which was triggered by the rise in MPR, encouraged people to invest in risk-free securities and place their money with banks. In addition, the weak spending by consumers and improved electronic banking patronage may have also contributed to the drop in currency in circulation.”

MONDAY, JANUARY 30, 2023 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Thomas: NAICOM Needs Instrumentality of States to Enforce Compulsory Insurance The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr Sunday Olorundare Thomas, speaks on third party motor and compulsory insurance, his record since his appointment and various industry issues. Eromosele Abiodun presents the excerpts We will like to start by asking you how the insurance industry has fared since your assumption of ofﬁce? retired from the commission as a director in 2009 after serving 17 years. I joined the Nigeria Insurance Association as Director General, where I served for seven years. And through the benevolence of President Muhammadu Buhari, I was appointed back to NAICOM as as a deputy commissioner. As at that time, the market production was about N320 billion. I was deputy commissioner until around August 2019. When I was appointed Acting commissioner, the market production in terms of premium was about N400 to N520 billion. But by 2022, the market recorded more than N730 billion. I am still not satisfied yet, because my target before I finish my first term in office is N1 trillion. The total asset moved from about N1.3 trillion in 2018 to about N2.5 trillion in 2022. We are making progress but looking at our economy, these, to me, are small numbers. I will also say that our methodology is also changing. Inspection used to be compliancebased with a checklist. But now, the world has moved to risk-based supervision. We started that last year. Some companies have tasted what it means to have risk-based supervision environment. It has been quite revealing about the operations of these institutions. We are taking it to a new level, risk-based capital. If you know the history of capital in this country, it has been an issue and we want to remove that. You can trade, for instance, as a motor third party insurance company, based on your capital. Then, if you want to trade in the highly volatile business environment of oil and gas, you also must provide the needed capital to be able to run at that level. That is where we are going now. The one cap fits all, will no longer be the case. This year, we will be closing on that and before I finish the first tenure, it will be operational. We are in partnership with the multilateral institutions in our quest to evolve, this risk-based capital. Our staff members have gone through a lot of training in this area and it’s been quite helpful.

the West African coast, which mandates everyone who moves with the sub-region to have an insurance policy. What happened before now was that if anyone was going from Nigeria to Togo, before crossing the border, the person would need to buy the ECOWAS brown card. So, at every point, this brown card must be obtained. If anyone was moving from Nigeria to Togo five times in a month, the person would have to buy the brown card five times. But now, that has changed. With the third party motor insurance, any motorist moving from Nigeria to any part of ECOWAS does not need any brown card. The N15,000 third party insurance covers the policy holder for one whole year. So, if you put all of these together, you will find out that the policy is adding more value to the policyholder.

What are the initiatives put in place to ensure the growth of the insurance industry? A lot of initiatives have been put in place. We try as much as possible to create a conducive environment for the operators to do their business. We know that insurance is a knowledge –based industry. There are certain professionals that are scarce globally and the insurance industry has its own share of the scarcity. For example there is a scarcity of actuaries and it is compulsory for insurance companies to have actuaries. For instance, the IFRS 17 says for an insurance company to be able to carry out capital adequacy ratio, it must get actuaries. Apart from that, we know that valuations are changing, just as annuity is becoming more significant in the portfolio of the industry. Before the 2004 Act, annuity was not a product. But with the 2004 Act, as amended by the 2014 Act, it has become more critical and insurance, to a large extent, has become a major beneficiary of that Act. Annuity has become very significant with respect to life operations and in totality it has become very significant in the portfolio of insurance practice in Nigeria. Annuity cannot be less than 30 percent of the portfolio of the insurance sector. But with respect to life and businesses, it will be between 30 to 60 percent. It requires daily monitoring and it is in the place of actuaries to be able to do that. That is why as a regulator, we are saying if you want to go into the business of annuity, you must have in-house actuaries or you must make plan to get one because it requires

Thomas daily monitoring which a consulting actuary or an appointed actuary may not be able to handle. There must be assets liability matching on daily basis. It is so volatile that if you don’t have that in place the bubble can burst and we cannot sit down and watch that to happen. That is with respect to some of our activities. In addition to that, as a way of backward integration in trying to cultivate human capital, we have gone into Education financing and there is no geo-political zone that has not benefited from our assistance to tertiary institutions. We support and sponsor insurance initiatives either by infrastructure or other areas. We sponsored the building of office spaces, furniture and training of lecturers. We have continued to support the college of Insurance and Financial Management. As part of our statutory responsibility, we support the West African Insurance Institute in Gambia and the Chartered Institute of Insurance in Nigeria. All these are to ensure that insurance education is promoted at all levels and we are happy with the kind of jobs they are doing at these levels. The National Insurance Commission recently increased the premium on third party motor insurance from N5,000 to N15,000. What informed that decision? People talk about increase in the premium but it is really not an increase. When it was put at N5,000 over 20 years ago, what did it cover? It only covered liability to a third party. As at that time, how much were parts of vehicles being sold? How much were cars being sold? If you want to adequately cover a person, the person must pay adequate premium. When the premium was N5,000, the liability covered was just N1million but because we are conscious of our environment, we have increased the liability to N3million. Not only that, before we reviewed

the premium, there is a protocol signed by President Muhammadu Buhari I think in 2021 with respect to movement of people, men and material within

How are you handling the issue of compulsory insurance? With respect to compulsory insurance, we have done a lot trying to sensitize the states. We realize that as a government institution, we may not be able to do so much sitting in Lagos or Abuja. We need the instrumentality of the states to be able to enforce some of the insurance policies. I am talking about the Motor Insurance third party; building under construction, public buildings, professional indemnity and all other compulsory insurance policies. We know that if we don’t partner the Continued on page 31

T H I S D AY ˾ MONDAY, JANUARY 30, 2023

BUSINESSWORLD

INTERVIEW

Thomas: NAICOM Needs Instrumentality of States to Enforce Compulsory Insurance states, it might be difficult for us to be able to maximize the benefit of our enforcement. Consequently, we have to a large extent brought to the fore, the issue of financial inclusion, having in mind the structure of our population that is predominantly at the lower end of the pyramid in terms of income parity. Therefore, we have encouraged our operators to develop products like the micro insurance that will financially include all. Our responsibility is to license institutions and give them authority to go there and sell. We have licensed some institutions and we realized that, looking at the size of Nigeria, we need to spread ourselves wider. That is why a few years ago, we licensed five additional companies. Until five years ago, the last insurance company that was licensed was about 32 years ago. We realized that we need to license more companies that will assist our economy. One re-insurance company Thomas was also licensed. Four direct companies were established. Before then, the last direct company view to getting operators to comply that was established was ten years ago. I am with rules and guidelines? happy to say that these companies are doing Let me make this clear. Regulation quite well. From the numbers that we have or distress management in the financial seen so far, some of them were in the top sector is different from what you have in twenty out of more than fifty of them within the other sectors because of the volatility. the first two years of operations. That means For example, the origin of AMCON we have taken the right decision. was to absorb non-performing loans created by the operators. That means What are you doing in terms of regulation that these volatilities exist despite the and sanitisation of the industry with a big stick wielded by the Central Bank of

LASG: Blue Line Rail Will Generate its Own Electricity Emma Okonji and Nosa Alekhuogie Following the commissioning of the Lagos Blue Line rail by President Muhammadu Buhari, the Lagos State Commissioner for information, Gbenga Omotosho, has said the blue lines will generate its own electricity to power its rail transportation system. He noted that it was the first of its kind in Africa, which has its own dedicated Independent Power Plant (IPP) with four power sources thereby eliminating the fear of power outage while on the train. He however assured Nigerians that the cost to use this mode of transportation isn’t going to be exorbitant as transportation is not something that the government relies on to make huge revenue. “It’s the comfort of Lagosians the government is looking at and not how much to charge or anything that will make anybody to complain,’’ he said. Omotosho who was a guest on the Morning show of ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, commended the Lagos State Governor, Babajide Sanwo-Olu for bringing the project to life.

He also clarified that the commissioning which was done prior to this was that of the completion of infrastructure like the tracks and signalisation and not the services of the blue line as speculated. He said: “For us in Lagos, it is a thing of joy, and we are not talking about whether this project was dropped at some time or not. “This one that we are talking about is quite different from the one you are talking about, the metro line. This one was conceptualised by the Asiwaju Bola Ahmed Tinubu’s administration and then successive administrations after that, they have been following up until Bababjide Sanwo-Olu promised and resolved that he was going to complete it and thank God, he has completed it now.” Giving information as to when it will be open to the public officially, the commissioner said they were still looking to take journalists, professional associations, engineering groups on board for them to test-run it before Lagosian will have full access to it. Fielding questions on when the Red Line rail will be completed, Omotosho said it would be completed and inaugurated in the first quarter of the year.

He, however, said there had been delays in building all the overpasses because many are being built at the same time and the weather didn’t help which caused the contractors to be delayed. The commissioner further warned Lagosians to desist from displaying all sorts like clothes for sale on the railway track, as it has been fenced off and there are notices all over the place alerting people of electrification which could be fatal. Also speaking about the John Randle Centre for yoruba culture and history, he said the present administration chose to use the place to promote tourism in the state as well as build an urban regeneration program. According to him, Onikan where the facility is situated, is also the first of its kind in Lagos. He explained further that there is a place to learn about the yoruba culture, its impact, and everything about the yoruba history. “For us in Lagos, it is an edifice that we are proud of because it’s symbolic of our attempt to make our young ones realise that history is very important, the yoruba culture is very rich and it’s something to sell to the world.

Green Africa Offers 1000 Seats Up for Grabs at N10, 000 Each Chinedu Eze

Green Africa, Nigeria’s value airline has announced a 24hour treasure hunt starting from 00:00am- 11:59pm on Monday, January 20, 2023. The airline said 1,000 flight tickets on all Green Africa routes will be made available on greenafrica. com for N10,000 each during the 24-hr treasure hunt.

To participate in the treasure hunt, customers will need to log on to the website, greenafrica.com and search for travel dates between now and February 14th, 2024. These tickets are available on a first-come, firstserved basis, so customers will need to act fast. The travel period is between now and February 28th, 2024.

“Green Africa, Nigeria’s value airline, has one of the strongest on-time performance record and offers industry leading affordable fares to customers especially when they book early. “What are you waiting for? Don’t miss out on this limitedtime offer. Visit greenafrica. com to join the hunt and get one of the available seats for N10,000,” the airline said in a statement.

Nigeria. Regulation does not stop those who want to deliberately commit acts that are not consistent with good practice. But there are consequences. Today, there are trillions in terms of the assets of the banking sector. But if you try to discount the total assets of the banking sector, with the liabilities that were transferred to AMCON, it will give you the net value of the assets of the banking sector, because without those liabilities, there will be no need for AMCON. I will tell you the steps that we have taken. In the insurance sector, we have put some companies under regulatory order. We can’t announce it to avoid panic. In the banking sector, what you put in is what you get. That is not so in the insurance sector. In this sector we pay premium that you may never be a beneficiary of. You might have been insuring your car for five years but nothing happens and you continue to pay premium on a yearly basis. But you are contributing to settle what has happened to others so that if it happens to you, some other people are going to contribute to meet your own need. There are things we are doing that we may not necessarily need to advertise. It is only when it is becoming too dangerous to the system that it then becomes obvious to the public. Also, we have put some shock absorbers to ensure that it does not smear on the industry. You are aware that we have canceled some licences since I came in. It was because we have given them opportunity to re-invent themselves but they were not able. When that was not forthcoming, we had no choice than to do the needful. So, we have institutions that the moment you are not able to meet your liability to the public, it becomes a concern. They have taken over some companies, appointed receiver managers, liquidated the companies; are able to recover all the assets to pay all the liabilities. Apart from that, you know that in June 2021, we released our corporate governance guidelines. Companies don’t fail, people kill companies. We are conscious of that and that is why we

are trying to be heavy in the area of corporate governance. If you are the chairman, remain as the chairman. You can’t be the executive and non-executive at the same time. And so much responsibility has been put on the shoulders of compliance officers. Each company is expected to have compliance officers who are trained from time to time. We released a circular recently with respect to motor insurance. It is to avoid a situation where undercutting leaves a policy holder in a dangerous situation. We did our valuation and we discovered that if you take a comprehensive cover at 5 per cent, and premium are dully paid, you will be adequately paid. The recent ﬂooding showed lapses in agriculture insurance. What are you doing in this aspect to promote food security? Before now, we had only the Nigerian Agriculture Insurance Company operating as underwriter for agriculture, but today, we have over 10 because capacity has been built. Some companies paid premium on the flooding that happened last year and they were indemnified. But it still boils down to sensitization. The farmers must be ready to insure. No matter how good your policy is, it can only cover a willing person that has come forward for it. In this part of the world, we are always looking for help from government, even on things we should manage on our own. That is why we keep encouraging government that tax payers money that is used to support certain individuals can be better handled by commercial concerns, for example, those whose primary duty is to protect risks that are emerging from some of those transactions including agriculture. In some other jurisdictions, there is partnership between insurance and government in providing insurance cover for those sectors. That is one thing we are working at to see how we can partner the government to cover some of these risks. No insurance company will go and take risks that will sink it. You can imagine what has happened to farms in the flooding of last year where people could not cross over to Lokoja.

T H I S D AY • MONDAY, JANUARY 30, 2023

This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Top 5 News NETFLIX TO STOP PASSWORD SHARING IN MARCH etflix recently announced its plans to start cracking down on subscribers who share their password by the end of March 2023. Back in October, the streaming giant said it would begin charging subscribers who share their accounts but did not give a specific date or information for when the new policy would be enacted. Netflix shared during their shareholders’ meetings last week that they recognise this is a drastic change for members who share their subscriptions with others. There are also plans to make password sharing a bit complicated for users and might include an additional fee. It said on its website that the company uses “a person’s geographic location, IP addresses, device IDs, and account activity from devices signed into the Netflix account” to determine which devices are in the same household. The company told investors last week that it would roll out more stringent sharing rules by the end of March. More than a hundred million households currently share Netflix passwords, the service said. The company said that “undermines our long-term ability to invest in and improve Netflix.” It added, “As we roll out paid sharing, members in many countries will also have the option to pay extra if they want to share Netflix with people they do not live with. As is the case today, all members will be able to watch while travelling, whether on a TV or mobile device,’’ the company said.” However, Netflix assured shareholders that, despite the recent changes, engagement will grow “over time as we continue to deliver a great slate of programming and borrowers sign-up for their own accounts.”

MYPIITCH BECOMES ALTERNATIVE VIDEO PLATFORM FOR JOBSEEKERS As hiring shifts towards virtual interviews, more candidates are jumping in front of the camera to boost their odds of landing their dream jobs. myPiitch has become the latest startup to digitalise the recruitment process through its innovative video-based solution. It offers one-stop solutions for recording, editing, and submitting video resumes. Recruiters and hiring managers can find people like no other platform does using video resumes. Jobseekers can now check their job application status at a single glance and know what to expect from each stage of their job application journey. They also get feedback from employers at every stage of the application process. For employers, myPiitch vows to eliminate the need for costly applicant tracking systems through its enterprise platform, enhancing the hiring experience. The old approach of reviewing piles of CVs and screening numerous candidates over an extended period is gone. It saves employers valuable time and costs. Operating across multiple geographies and industries, it also provides employers with an opportunity to connect with a diverse range of quality talent. Through tailored video CVs, applicants have a better chance of displaying their skills and talent. With an increasingly competitive job market, template-based recruitment systems and paper CVs are becoming a less efficient and time-consuming method for hiring, as jobseekers are often frustrated by the cumbersome process and limited feedback from potential employers. The myPiitch app is available to download on Google Play and App Store. Once signed up, users can create a profile and record a 60-second video bio highlighting their personality and skills.

Tech Personality of The Week FARA ASHIRU JITUBOH

his week’s tech personality is the CEO/CTO and cofounder of Okra, Fara Ashiru Jituboh. Okra is Africa’s first API “super-connector,” which allows the secure exchange of real-time financial information between customers, applications, and banks. It is targeted at developing the infrastructure for Africa’s next stage of fintech innovation. Jituboh cofounded Okra with David Peterside in 2019. However, the company launched in January 2020. The Nigerian-based startup has already connected with all of Nigeria’s commercial banks and the likes of Branch, AIICO Insurance PLC, Travelstart, Bamboo, and Renmoney. According to Jituboh, they invest in infrastructure, and while banking portals do not come to mind as readily as cellphone towers when one thinks of infrastructure, they are an equally important part of the foundation needed for a vibrant digital economy. In 2020, the startup secured a $1 million pre-seed funding round from TLcom Capital. FEC APPROVES NIGERIA DATA PROTECTION REGULATION The Federal Executive Council (FEC) has approved the Nigeria Data Protection Bill for transmission to the National Assembly. The bill seeks to give Nigerians full legal backing in protecting their data and will replace the current Nigeria Data Protection Regulation (NDPR). The National Assembly emphasised the importance of having a data protection law in the country. Last year, they also promised to give the bill an accelerated passage once sent to them by the executive. Confirming the development, the head of the Legal, Enforcement & Regulations (NDPB), Babatunde Bamigboye, said the bill will now be transmitted to the National Assembly as an executive bill through the office of the minister of justice and attorney general of the federation. President Muhammadu Buhari approved the establishment of the Nigeria Data Protection Bureau on February 4, 2022. The bureau was mandated to implement the Nigeria Data Protection Regulation (NDPR) and to coordinate the passage of an enabling Act for data protection. The central objective of the bill is to safeguard the fundamental rights and freedoms and the interests of data subjects, as guaranteed under the Nigerian Constitution, by providing for the regulation of the processing of personal data, promoting data processing practices that safeguard the security of personal data and privacy of data subjects; ensuring that personal data is processed in a fair, lawful and accountable manner. REPORT: DEBT FINANCING SPURS GROWTH FOR AFRICAN STARTUPS Last year, African startups doubled the debt they raised last year, a surge that

may continue as an economic slowdown makes equity funding more expensive and unsustainable. According to reports by Bloomberg, companies on the continent raised $1.55 billion in seventy-one debt deals in 2022, suggesting it’s become a solid alternative source of capital for African technology startups. The growth in debt financing has been reported to continue in the next couple of years. A study by venture capital firm, Partech also noted that the surge helped the African technology sector become “one of the very few, if not the only, VC markets to boost net growth funding in 2022.” VC funding grew eight per cent to $6.5 billion in Africa. Globally, it fell 35 per cent last year, according to the firm’s annual survey of startups that have most of their operations in or get the bulk of their revenue from the continent. The leading investment locations in Africa continue to be Nigeria, South Africa, Egypt, and Kenya, with a percentage of the overall volume remaining constant at 72 per cent. Despite a fall of 36 per cent from 2021, Nigeria maintained the top spot, attracting $1.2 billion in funding; South Africa, Egypt, and Kenya each received over $0.7 billion in funding; Ghana rounded out the top five with just over $0.2 billion. In total, twenty-eight nations received equity funding in 2022, with thirteen being in Francophone Africa. The report found that the number of active debt investors on the continent is growing 2.5 times year-on-year, with a good mix of local debt institutions, international lenders, and development

finance institutions. TAP PROVIDES CASHLESS FARE COLLECTION TECHNOLOGY FOR LAGOSIANS Nigerian fintech company and a leading processor of micro-transactions in Africa, TAP, recently announced that rail passengers across Lagos could access the newly launched Blue Rail Line using TAP’s contactless Cowry card. TAP was the first payment company in Nigeria to provide payment infrastructure that allowed contactless payment cards to be used on buses and ferries. Founded in 2019 by Olamide Afolabi, Kabir Yabo, and Michael Oluwole, the company continues its record of innovation by enabling contactless payment cards to be used on trains in Nigeria. The partnership with the Lagos state government enables lagosians to use the Cowry card across the 13km of tracks proposed for the project. The first phase of the track, from Marina to Mile-2, supports 200,000 daily passengers, who can now seamlessly enter and exit stations through TAP’s state-of-theart turnstiles. Upon completion, phase two, from Mile 2 to Okokomaiko, will enable up to 500,000 daily passengers to manoeuvre between stations rail, bus, and ferry easily. Riders touch their Cowry cards against the tempered glass-protected state-of-the-art turnstile validators, which use near-field communication (NFC) technology to enable communication between cards and the automated collection points. TAP’s pay-asyou-go card dramatically lowers fare evasion. Unlike riders on other lines, the 500,000 daily passengers using the blue rail line will not have to endure the old, arduous procedure of manually examining their tickets. Turnstiles will operate at Alaba, Marina, National Theatre, Mile 2, and Orile.

T H I S D AY ˾ MONDAY, JANUARY 30, 2023

HOMES&DESIGN

EXIMIA’S FIONA LAWTON APARTMENTS:

An Environmental Masterpiece Fiona Lawton Apartments, developed in Ocean Breeze Estate, Lekki, Lagos, is an architectural masterpiece with an unmistakable consideration for space and environmental sustainability. All the units in the three high-rises are ﬁtted with ultra-modern accessories. Bennett Oghifo writes

ximia Realty, the promoter of Fiona Lawton Apartments, introduced into the exquisite wholly residential complex a rare mix of architectural, engineering, environmental and building techniques to give residents ease of life. The concept of Fiona Lawton Apartments is the first in Nigeria’s property market. At the inauguration of the Apartments last week, the Founder/Chief Executive Officer of Eximia Realty, Mr Hakeem Ogunniran, said, “We were convinced, based on our empirical studies and consistent with the global real estate trends, that ‘the era of mac-mansion’ is gone.” He is also not unmindful of “the robust opportunities in this uncharted ‘territory’ of the market.” Thus, they have a special design of Studios, one and two-bedroom apartments that especially resonated with the market, Ogunniran said while presenting the 48-unit environment-friendly

estate comprising uniquely crafted living spaces and best-in-class facilities – duly completed and fully sold to the market. He said, “In spite of the acute macroeconomic headwinds occasioned by the odds and ends of the COVID-19 pandemic, devaluation of the naira and general instability in the polity, we have delivered on our promise to our customers who have kept faith with our company.” Ogunniran stated that they had handed over to all owner occupiers and secured tenants for other investors in the estate. He said it was the affirmation of “our proof of concept of affordable luxury” in the mid-tier segment of the housing market in Nigeria, adding that in consonance with “our strategic positioning, we conceived of this project as a unique offering for the mid-tier segment of the housing

ecosystem.” The firm targets a market comprising young families, first-time home buyers, millennials and empty nesters. According to him, the Lagos State Building Control Agency (LSBCA) has duly certified the estate habitable, as evidenced by the Certificate of Fitness For Habitation issued by the agency to the company a few weeks ago. “Building future dreams today through innovative, value-driven and customerfocused real estate solutions. Central to our strategy is the primacy of our stakeholders - our customers, our people, our partners, our communities, our investors and the environment,” the firm explained. It added, “In Lagos state in particular, we are positioned to complement the T-H-EM-E-S agenda of the state government by embarking on real estate projects that

will enhance infrastructural development and help to bridge the significant housing deficit in the state.” Eximia, he said, has a JV partner that provided the land equity. The Managing Director of Eximia, Mr Frederick Akhigbe, said they paid particular attention to the structural stability of the development. “Each of the blocks sits on 80 piles at a depth of 18 metres – i.e. 240 piles in all. All the materials used were duly tested and certified by appropriate Regulatory Agencies at every stage of the development,” Akhigbe said. The Eximia MD added, “The facilities and amenities in this estate include highly sophisticated electrical systems; dome IP camera CCTV with monitors for security; solar powered street lights, among others. Common facilities include a communal lounge; laundromat; mini mart; children’s play area.”

MONDAY, JANUARY 30, 2023 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Many Benefits of Naira Redesign, Cashless Policy

In this piece, James Emejo x-rays the several opportunities that the Central Bank of Nigeria’s currency redesign and cashless policy present to ordinary Nigerian and the economy in general

Buhari

he October 26, 2022 policy decision by the Central Bank of Nigeria (CBN) to redesign the N200, N500 and N1,000 denominations, and the subsequent announcements including the cash withdrawal limit – have continued to generate reactions. However, with President Muhammadu Buhari’s approval of a 10-day extension of the expiry date of the old naira notes from January 31, 2023, to February 10, 2023, it is expected that more bank customers would take advantage of the window to return all their old banknotes. Announcing the deadline extension yesterday, after a meeting with the President in Daura, Katsina State, the CBN Governor, Godwin Emefiele, said the extension of the deadline was to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their legal tender status. Considering the timing of the policies – being an election year – some Nigerians particularly politicians believed that the apex bank’s move was targeted against certain individuals and have refused to see beyond their noses that the actions are in the best interest of Nigerians and the economy if the country must address the current gale of insecurity, corruption and economic sabotage among other actions of some privileged elites who continued to take advantage of a dysfunctional system to short-changed the country. If anything, there have been early successes of the CBN intervention as the monetary policy committee (MPC) of the central bank recently affirmed that the various policy interventions of the bank had led to a reduction in inflation after months of an uptick in the headline index. Also, the cashless policy has led to a reduction in banditry and kidnappings which were rampant in the recent past. The CBN Governor, Mr. Godwin Emefiele, while announcing the apex bank’s resolve to redesign the naira, pointed out that the move was sequel to the approval of President Muhammadu Buhari. Specifically, he noted that the move to redesign the currency was aimed at checking the increasing ease and risk of currency counterfeiting evidenced by several security reports, and the increased risk to financial stability as well as the worsening shortage of clean and fit currency, with the attendant negative perception of the central bank. Emefiele, further explained that there was significant hoarding of naira notes by members of the public, with statistics showing that over 80 per cent of the currency in circulation was outside the vaults of the commercial banks. According to him, as of September 2022, a total of N3.2 trillion was in circulation, of which N2.73 trillion was outside the vaults of the banks, describing the development as unacceptable as this has the potential to harm monetary policy actions, further leading to higher inflation and currency speculation, thereby exposing vulnerable Nigerians to further economic hardship. He said all banks were expected to keep open their currency processing centers from Monday to Saturday so as to accommodate all cash that would be returned by their customers. The CBN governor also said for the purpose of the transition from existing to new notes, bank charges for cash deposits had been suspended with immediate effect. He added that no bank customer should bear any charges for cash returned/paid into their accounts. The CBN boss emphasised that in the meantime, the

Emeﬁele present notes remained legal tender and should not be rejected as a means of exchange for the purchase of goods and services. He reassured the public that the CBN would continue to monitor both the financial system, in particular and the economy, in general,

POLICIES IN GOOD FAITH

Emefiele said the CBN acted in good faith towards the achievement of the bank’s objectives and the betterment of the country. Essentially, Emefiele said there had been concerns about the management of the old series of banknotes as well as currency in circulation, particularly those outside the banking system in the country, stressing that currency management remained a key function of the CBN, as enshrined in Section 2 (b) of the CBN Act 2007. He noted that the integrity of a local legal tender, the efficiency of its supply, as well as its efficacy in the conduct of monetary policy, were some of the hallmarks of a great central bank. The CBN governor, however, noted that in recent times, currency management had faced several daunting challenges that had continued to grow in scale and sophistication with attendant and unintended consequences for the integrity of both the CBN and the country. He said recent developments in photographic technology and advancements in printing devices had also made counterfeiting relatively easier, stressing that in recent years, the CBN has recorded significantly higher rates of counterfeiting, especially in the denominations of N500 and N1, 000 banknotes. According to him, “On the basis of these trends, problems, and facts, and in line with Sections 19, Subsections a and b of the CBN Act 2007, the Management of the CBN sought and obtained the approval of President Muhammadu Buhari to redesign, produce, and circulate new series of banknotes at N200, N500, and N1,000 levels. “So first of all, what we want to do is mop up the N3.2 trillion back into the CBN so we can take control of the money supply. Again, this would help to rein inflation and it would have a positive impact on inflation.”

CASHLESS POLICY, CURRENCY REDESIGN APPLAUDED

Notwithstanding the antagonism against the CBN’s cashless policy direction, analysts have thrown their weight behind the move, noting that the decision to limit cash withdrawal limits to individuals and corporate organisations following the currency redesign programme was the right way to go if the country must move forward. The central bank had placed a cap on cash withdrawals under the new dispensation, restricting the maximum cash withdrawal over the counter (OTC) by individuals and corporate organisations per week to N500,000 and N5 million respectively. The move by the apex bank it was generally believed was aimed at discouraging vote-buying as the 2023 general election approaches as well as addressing hoarding of the local currency in a bid to check inflationary pressures as well as address critical security issues. However, speaking in separate interviews with THISDAY, analysts said the new CBN policy will aid in accelerating the monetary policy objectives. They said the policy will positively enhance

the monetary and fiscal space as well as improve the profitability of the banking sector. The analysts, however, cautioned that the slow adoption of e-banking, the rise in cybercrime coupled with an election year, and other macroeconomic factors could slow the benefits of the policy. They also believed that the policy could strengthen the Naira against the US Dollar. Wealth Management and Business Development Consultant, Mr. Ibrahim Shelleng, said the effectiveness of monetary policy hinged on being able to mop up excess liquidity and having the majority of the population included in the financial system. He said, “Several initiatives by the CBN have tried to encourage both financial inclusion and a cashless society, however, these have been largely ineffective. The new CBN policy will certainly aid in accelerating the monetary policy objectives, whilst also tackling the insecurity challenges and encouraging financial inclusion. “Though there will undoubtedly be implementation challenges, it is a step in the right direction for sanitising the economy. The excess liquidity floating around in the economy needs to be mopped as this will also help inflation.” Also, Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said the step taken by CBN in limiting cash withdrawal will not only curb vote buying, and terrorism and encourage digital payments, but also reduce the pressure on foreign currency. “In other words, the measure will improve the value of the Naira against other currencies. It is always a play of demand size against supply size. If there is a scarcity of Naira, foreign currencies will become surplus in the market to exchange for scarce naira. “It will also help CBN to manage the supply of the redesigned currency which may not be very available to cover the demand for it in all states of the federation at the same time,” he said. Also, a renowned economist, Mr. Tope Fasua, said the policy could address the current exchange rate gaps. He said, “The policy will also be a good step in strengthening the value of the naira. At this rate, if this is played right and it is sustained, we may see a scenario where the naira/dollar rate comes down and the naira can strengthen a little bit against the dollar when there is not much money flowing after the dollar.” On his part, Professor of Finance and Capital Markets, Nasarawa State University, Keffi, Prof. Uche Uwaleke, said the cash withdrawal limit is part of the currency redesign package, adding that the two are mutually dependent. He said, “It goes without saying that cash withdrawal limit is an integral part of currency redesign meant to reduce the amount of currency circulating outside the banking system. “If the experience of India’s demonetization exercise is anything to go by, then it’s evident that imposition of cash withdrawal limits by monetary authorities, following a demonetisation exercise, is a norm. Uwaleke said, “If depositors of old currency notes are able to exchange them for new naira notes which get withdrawn from the banks, then the primary aim of currency redesign is defeated. “That said, I expect it to give impetus to financial

Inclusion as Nigerians become compelled to embrace alternative payment platforms. “It now behooves the CBN to ensure that bank charges on money transfers and other related charges are reduced to the barest minimum.” The Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, described the cash withdrawal limits as a step in the right direction by the CBN, adding that the measure will to a large extent reduce the cash in the economy to an acceptable minimum as stipulated by CBN guidelines. He said, “The measure will also boost the value of the Naira when there are less of N500 and N1000 naira notes in circulation as it is being done with major currencies in the world like the US Dollar, British Pound Sterling, and the Euro. “This policy implementation will go a long way to increase the use of other means of transactions like internet banking, USSD, ATMs, and POS to boost the cashless policy of the CBN.” He said, “We know that our economy has been a cash economy for a long time so these measures will initially cause disruptions in the economy but things will settle in the long run and the economy will be better for it. “The policy will also deter cash hoarders and politicians carrying cash for vote buying, terrorists and kidnappers will also not be getting large sums as ransom with these new measures.”

POLICIES WILL ELIMINATE CORRUPTION, REDUCE POVERTY

No doubt, beyond the immediate benefits of the CBN’s cashless policy and currency redesign, which includes countering terrorism, and managing money supply among others, the initiative will also ensure that going forward, social intervention programmes that are targeted towards poor Nigerians achieve their desired objectives. This is partly because going cashless would ensure that such funds can easily be tracked and monitored and this will further provide for greater transparency and accountability by those who administer the resources. Also, as attested to by Emefiele recently, though the security agencies have been on top of their game in recent times tackling insecurity across the country, nonetheless, the cashless policy initiative of the central bank has helped to reduce the incidence of kidnapping and banditry as a result of the restrictions placed on cash withdrawals.

POLICY IN THE INTEREST OF THE MASSES

In spite of the repeated assurances that the policy was conceived in the interest of the Nigerians particularly the common man on the street and the country as a whole, some groups of individuals, particularly the elites who appeared to benefit from the old system of doing things, have continued to disagree with the CBN and resorted to maligning the bank in order to cause disaffection between the apex bank and the people. These unpatriotic Nigerians have created the false impression that the recent policy directions of the CBN were inimical to the interest of Nigeria and these would cause them more hardship. However, the CBN governor had always emphasised that the central bank under him would always be people-focused in its policy directions. This was particularly evident in the role played by the bank in supporting small businesses and households during the COVID-19 pandemic.

T H I S D AY ˾ MONDAY, JANUARY 30, 2023

BUSINESS SPECIAL

ANALYSIS

Kyari: Sticking to NNPC’s Transformation Drive Amid Challenges Oluchi Chibuzor

igeria’s oil sector has over the years been riddled with numerous challenges. Notable among these challenges include fuel scarcity crises that have been bedeviling the nation for decades. Nigeria is heavily dependent on oil revenues to meet its needs. However, the nation’s oil revenues have also experienced sharp drop in the past few years due to a decline in production occasioned by crude oil theft and pipeline vandalism. For instance, in April, 2022, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, disclosed that the country lost $4 billion to oil theft at the rate of 200,000 barrels per day in 2021. The NNPC further said the country lost billions of dollars in 2022 to pipeline vandalism which escalated. Also, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), disclosed that the country lost over $1 billion directly to oil theft between January, March and September, 2022 while the NNPC said the country loses 470,000 barrels of crude oil monthly amounting to $700 million to oil theft. For many Nigerians, it was not a cheering news that the nation could not benefit from rising crude oil prices at the international market. When Russia invaded Ukraine last year, and the prices of crude oil soared to as high as $130 a barrel, the highest since July 2008, after the United States and its allies sanctioned Russia over the invasion of Ukraine, the increase was not good for Nigeria. It was discouraging to know that one of the largest producers of crude oil in the world, could not exploit the rising oil prices to generate more revenue for the country due to its inability to refine locally and meet the oil production quota set by the Organisation of Petroleum Exporting Countries (OPEC).

KYARI’S UNWAVERING FOCUS DESPITE CHALLENGES In the midst of these challenges, the NNPC Limited has something it could boast of-right leadership. If everything rises and fall on leadership, the company may have nothing to worry about. Its GCEO, Mele Kyari, according to stakeholders in the oil sector, has kept faith through the right stewardship. Many have attested to the fact that within three years of his stewardship as the GCEO, NNPC Limited, Mele Kyari has reinvigorated hope of a better oil sector by leading the transformation of the NNPCL. He led the company from a loss-making company to a profitable one in the year 2020 when, for the first time in its 44 years of history, NNPC declared a profit after tax of N287Billion. This was scaled up to N674 billion profit after tax in 2021. He also led the successful resolution of protracted contractual disputes including: Various Production Sharing Contracts (PSC) disputes with International Oil

Kyari Companies (IOCs) leading to a potential exit from national contingent liabilities in the excess of $9billion dollars; OML 118 dispute with PSC partners and the renewal of the acreage, clearing the way for a $10 billion prospective investment for the development of the Bonga South-East Field; Execution of Abo OML 125 Heads of Terms that resolved issues around most of the deep offshore Production Sharing Contracts, which also paved the way for the renewal of OML 125 for further investment to boost the nation’s crude oil production. The NNPC, under Kyari’s leadership also secured the restoration of production activities in OML 25 whose shut-in due to protracted dispute between Shell and Belema Oil was costing the country over 30,000barrels per day in lost production volumes. Kyari and his team have, in order to reposition NNPC for global competitiveness, secured alternative project financing for several important projects including: $5Billion corporate finance commitment from the Africa Export Import Bank to fund major investments in Nigeria’s Upstream sector; Alternative Financing and Technical Services package worth N875.75m for NPDC’s OML 65 in order

to increase national production; Alternative Financing Package worth $3.15bn with Sterling Exploration and Energy Production Company Limited (SEEPCO) and other partners for the development of NPDC’s OML 13. Despite the impact of the COVID-19 pandemic on global investment, Mele Kyari, in December 2019, achieved the closeout of the Final Investment Decision of the multi-billion-dollar NLNG Train 7 Project that has been on the drawing board for over a decade. Mele has successfully renegotiated the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline contract. The AKK Gas Pipeline is an integral part of the Trans-Nigeria Gas Pipeline (TNGP) with a capacity to transport about 2.2billion cubic feet of gas per day. The contract was renegotiated from the initial $2.8billion to $2.5billion, achieving cost savings of $300million in favour of the Nigerian government. Construction work on the project was flagged-off in June 2020. Mele also led the signing of a $260m Financing Agreement for the Assa-North Ohaji South (ANOH) Gas Project with Seplat to deliver 300 million standard cubic feet of gas per day and 1,200 megawatts of electricity to the domestic market. In April 2021, Mele Kyari led the

successful execution of a Gas Development Agreement (GDA) for OML 143 with Sterling Oil Exploration and Production Company (SEEPCO) which will boost National gas production by 1.2 Trillion Cubic Feet (TCF). Mele Kyari has a flair for execution excellence as a result of which NNPC is making progress in the delivery of many game-changing projects including: The completion of Escravos-Lagos Pipeline System II (ELPS II) and Oben-Obiafu-Obrikom (OB3) gas pipeline to increase delivery capacity from 1.5BCF/D to over 3.5BCF/D; Commissioning of Oredo Integrated Gas Handling Facility (IGHF) and the Liquefied Petroleum Gas Storage and Dispensing Unit owned by the NNPC E & P Limited (formerly NPDC). The facilities currently deliver over 200 million standard cubic feet of dry gas per day and 330 metric tonnes of Liquefied Petroleum Gas (cooking gas) into the domestic market among others. For recording several achievements in office, The Sun Publishing Company, publishers of The Sun Newspaper, for the second year running, honoured Kyari with the prestigious “The Sun Man of The Year Award 2022.” for his “outstanding contribution to national development” On Saturday, January 28th 2023, in Lagos. A group under the umbrella of Greater Nigeria Professionals (GNP) has commended Kyari, for the honour. While describing the conferment of the Award on Kyari as well deserved, GNP said rewarding a performer for outstanding contribution to national development, will no doubt encourage all persons holding public office and leaders that outstanding performance would be rewarded. Speaking on Kyari’s leadership at the NNPC Limited, Development Lawyer & Executive Director, Citizens Advocacy for Social & Economic Rights (CASER), Frank Tietie said Kyari exemplifies tenacity in holding unto high standards in the midst of national and global challenges in the oil and gas sector. He said any leader who sets out to apply the principles of accountability in Nigeria of today would always make a significant impact, especially in a sector and a corporation that have had a history of complexities and opacity. This is what has made Kyari to stand out in the long line of past leadership of the Nigerian National Petroleum Corporation (as it then was). He said, ‘‘His determination to practice transforming the NNPC into a profit making venture, for the first time, after decades of operating perpetually at a loss but his example becomes the signpost that whenever leaders, in corporate or political circles choose to operate with a sense of responsibility and accountability to the good of the Nigerian people, things will change quickly for the better.” Experts believe that by solving the insecurity challenges and underinvestment which has plagued the sector in the last ten years, by taking practical steps, there would be hope for the oil sector.

Plight of Workers and Proﬁt-making by Companies Akpan Ekpo The labour force whether skilled or unskilled constitute the major factor of production in any economy. The various gadgets which are technologically driven are either invented and/or run by humans; you may call it robots, artificial intelligence etc. Labour plays a crucial role in the innovation of these gadgets. The reward to labour, in terms of wages, salaries and other allowances depend on the interplay of variables existing in an economic system. The entrepreneurs, that is, those that have invested must make profit in order to reproduce the activity and remain in operation. Consequently, the private sector/ entrepreneur pays the worker enough for him/her to be able to live and lubricate the production process. Sometimes, the pay may be below subsistence levels. It is for this reason that modern capitalism with the existence of labour unions strive to pay a minimum wage to workers.

The International Labour Organization (ILO) exists to protect the rights of workers and the Nigerian government is a signatory to resolutions emanating from the ILO. In underdeveloped economies like Nigeria, the payment of minimum wage is often a struggle. For example, some states are still unable to pay the current minimum wage of N30,000 a month. In modern capitalism, a worker is paid at least the value of its marginal product of labour implying that the worker receives a reward to enable him to pay his way to work daily while the owner sells the product created by the worker with the view of maximizing profit after subtracting the usual costs. Broadly, there are two types of workers in the large firms. The management team and others. More often, the management cadre are properly enumerated including all sorts of allowances. For example, in Nigeria, Bank CEOs and executives are exorbitantly paid

that on retirement, they have enough funds to start a bank. Evidence abound in the country. The CEOs and executives of oil companies, GSM companies, selected public agencies and the like fall into this category of well-paid workers. I call them the “bribed” segment of the working class. They do not own the companies but are so well compensated that their lifestyle mirrors or even surpasses that of their counterparts in developed economies. No matter the compensation, they are paid less than the surplus value generated by them. They enjoy constant power supply due to availability of generators; their children school abroad; they go abroad for medicals, etc. They constitute part of the elite which have captured the state – they are often very close to those with political power. They are at not up to 10 per cent of the Nigerian population but their lifestyle is often nauseating. Let me focus on the plight of

workers in the banking, GSM and oil companies in Nigeria. First, the differential between the wages of skilled workers (graduate) and the management (CEOs, Executives) is too wide for any comfort. The economy has experienced two recessions within four years. All macroeconomic fundamentals in the last 10 years have been moving in the wrong direction, yet Banks, GSM companies, etc are registering substantial after-tax profits yet the lower level workers are poorly paid. There is no correlation between the real sector and the profit profiles of these banks and finance outfits except financing LPOs, trading in financial peers, charges/fees, among others. Another category of workers is those on contract. Staff in these companies have been on contract for 10 – 11 years without confirmation. They are not entitled to essential benefits. Even when they are sacked, let go/retrenched and/or resigned after several years, they have nothing to fall back on. If a worker is not

performing satisfactorily during probation, then he/she should be informed. They have no security of jobs and are thus prone to all sorts of temptation. The government should look seriously into the matter of contract staff in companies making huge profits over the years. What the companies are doing is exploitation in its wildest form. The Nigerian Labour Congress should go beyond picketing these companies and insist on the confirmation of such staff and/or ensure that they enjoy appropriate benefits – this affects both junior and senior staff. The manner these companies particularly those owned by Indians and Chinese treat Nigerian workers is disturbing and embarrassing. Recently, the Rwanda government had to deport Chinese businessmen for maltreating Rwandan workers. A responsible government must protect the welfare of its workforce. The exploitation of workers remains a major problem, for

capitalist development no matter its phase but it quite visible during the primitive accumulation phase. The worker is perceived as a commodity to be bought and sold. Labour unions have struggled over the years in most countries including Nigeria to reduce the degree of exploitation. Nevertheless, “the capitalist will sell you even the rope with which he will hang you with.” These companies set a target for profit and as soon as the owners and the ‘bribed’ segment of the working class observe a declining trend in profit (not losses), contract workers are the first to be laid-off, followed by others. It seems that the government is not interested in protecting contract or other exploited staff for obvious reasons. Therefore, we must continue to mobilise and organise workers to take-over political power and protect their interests. t 1SPG &LQP JT UIF GPVOEFS PG UIF 'PVOEBUJPO 'PS &DPOPNJD 3FTFBSDI BOE 5SBJOJOH '&35

T H I S D AY ˾ AY, JANUARY 30, 2023

BUSINESS/MONEYGUIDE

Comercio Partners: HowInterestRateHikeWillImpact SMEs, Consumers Oluchi Chibuzor Comercio Partners, an investment bank firm, has projected that the further increase in the Monetary Policy Rate or MPR, the benchmark interest rate of the Central Bank of Nigeria (CBN), to 17.5 per cent will likely translate to higher funding cost for Small and Medium Enterprises (SMEs) and increased cost of living for consumers. In a bid to tame the high inflation rate, which stood at 21.34 per cent in December, the Monetary Policy Committee (MPC) of the CBN, at its recent meeting, increased the MPR for the fifth consecutive time by 100 basis points to 17.5 per cent. Commenting on the rate hike, Co-Managing Partner and Head of Advisory and Investment Banking, Comercio Partners Limited, Steve Osho noted that while it is understandable why the MPC jerked up the MPR by 100

basis points, as against market expectations, banks/lenders will respond by adjusting their interest rates to reflect the hike. He said as a result, SMEs will pay more to borrow funds needed for their businesses, and this increased cost will translate to higher price of goods and services for consumers. Osho said: “From the banking and consumer lending point of view, banks/lenders typically would adjust their rates to reflect the hike. “Although the recent upward trajectory on inflation has anchored majorly on the exchange rate volatility/naira depreciation, the astronomical cost of energy and food insecurity amidst many other factors. “So, it is yet to be seen how this will impact the real sector but the likely impact will be felt by SME and other consumers on the cost of borrowing to finance business and likely

increase in cost of living for an average Nigerian,” Osho said yields on fixed income securities will continue to trend upwards and thus encourage more investors’ shift from the equity market to fixed income market. He added, “The common reaction to rate hikes in the market would see bearish sentiments dominate the equities market as investors would be looking to switch to higher yielding fixed income instruments. I expect a similar trend this time. “The debt management is expected to borrow over 320 billion naira monthly from the auction calendar recently released for the first quarter of 2023. “As liquidity begins to thin out over the next few months coupled with high borrowing pressures from the government, yields on fixed income securities will continue to trend upwards.”

Classera Raises $40m Funding, Set to Deepen Footprints across Africa Emma Okonji Classera, a global EduTech learning management platform focused on emerging markets, has successfully raised $40 million in a Series ‘A’ round, the largest in EdTech globally for a company with no prior funding. The impressive Series ‘A’ round, which represents the largest funding round ever in Edtech in the Middle East and North Africa (MENA) region and most of Africa, is expected to advance Classera’s Learning Super Platform (LSP), affirm its position of leadership in e-learning and EdTech, in addition to further deepening its global expansion into new markets, especially in Africa. The round was led by the Public Investment Fund (PIF)owned Sanabil Investments, a Saudi- based investment giant, accompanied by Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture, and Seedra Ventures. Also involved in the round

were other investors from Silicon Valley, emerging markets, and global family offices. The investment will see Classera accelerate on its global trajectory and target more growth in MENA, the rest of Africa, and to fast-track its expansion, especially into Asia Pacific (APAC) and elsewhere. These strategic expansionary plans will be driven by direct sales of its cutting-edge learning solutions, through channel partners, and via acquisitions. Similarly, proceeds of the investment will also help Classera - via its specialised platform for corporate e-training – LeadXera - to expand faster into that huge sector - which is one of the primary targets of the investment. As part of its growing footprints in Africa, Classera recently partnered with TD Africa, a sub-Saharan Africa’s leading distributor of tech, services, and lifestyle products. The partnership will

see Classera leverage TD Africa’s growing database, network of resellers/partners as well as its considerable reach to grow the adoption of its bouquet of e-learning solutions among millions of users across Nigeria and Ghana. Specifically, through TD Africa, Classera will gain access to and introduce a range of smart learning tools to clients in the education sector, including schools at every level. Coordinating Managing Director, TD Africa, Mrs. Chioma Chimere, said: ‘‘We are delighted to be associated with Classera, particularly in the light of this landmark fund raise and in view of the massive potential in boosting e-learning for a variety of key users across Nigeria and Ghana. Leveraging our army of resellers in these markets, we are confident that this strategic partnership will go a long way in expanding access to the suite of cuttingedge solutions from Classera for millions of new users.’’

L-R: Sales Coordinator, Globacom West Region, Mr. Akeem Yusuf; a Head of Local Government Administration in Oyo State, Mrs. Monsurat Alaga; House winner, Mariam Oyelami; Chairman, Oluyole Local Government, Olaide Settle and representative of the National Lottery Regulatory Commission, Mr. Kayode Ojoogun at the presentationofathree-bedroombungalowinGloFestivalofJoyPromoinIbadan...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

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Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

Minimum Rediscount Rate (MRR)

Cisco, Arravo Harp on Digital Transformation for Businesses Emma Okonji Cisco, a network technology solution provider and its partner, Arravo, have stressed the need for small and large scale businesses to optimise their application experiences with Cisco’s ‘Full-Stack Obsevability’ solution that would enhance accelerated digital transformation. At a one day workshop organised for businesses, which held in Lagos last week, the Country Director for Cisco Nigeria, Mr. Sebastine Nzeadibe, said as a pioneer technology company, Cisco would continue to build network infrastructure for large enterprise and small businesses like Small and Medium Enterprises (SMEs) that would enable them attain the full value of digital transformation. Nzeadibe said the Cisco FullStack Observability Solution was

developed to identify challenges that could lead to downtime in business. According to him, once the challenge is identified by the solution, it will be quickly fixed before any escalation. “The Cisco ‘Full-Stack Observability’ solution is an end-to-end solution that creates visibility to identify any threat in the system, especially in large scale network infrastructure with several networks like software application, hardware application, and the user interface, in order to solve immediate challenges. The solution is part of the solutions that are driving digital transformation “An unidentified challenge in a large scale network infrastructure can bring down the entire operations, but the Cisco Full-Stack solution helps to create that visibility that will enable network engineers to

identify any challenge and fix it before it degenerates. It could take several hours and days and even weeks to troubleshoot and identify a challenge after it has caused serious downtime for the organization, but with the Cisco Full-Stack solution, the challenge is identified at its formative stage and fixed immediately before it could degenerate to cause downtime for the organisation. It helps organisations to take proactive action and avoid even one minute downtime of operations,” Nzeadibe said. Speaking on digital transformation in businesses, the Channel Transformation Engineer at Cisco SSA, Luci Mbugua, said Cisco would remain at the forefront in driving digital transformation, through its technology solutions that support businesses.

Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ AY, ͱͮ˜ ͰͮͰͱ

Sanni: Africa’s Capital Markets Have Potential to Generate Attractive Returns for Investors Kayode Tokede The Executive vice chair/ Group CEO, Emerging Africa Group, Mrs. Toyin Sanni has said Africa’s capital markets have the potential to generate attractive returns for investors, stating that the firm is committed to helping investors navigate this complex and dynamic environment. Speaking at the launching of the Africa Capital Market

Report with the theme: “2022 outlook and 2023 outlook” in Lagos recently, she said African capital market activities picked up significantly in 2022 and are poised to do even better in 2023, creating opportunities and attractive returns for investors in the process. The nine selected countries are Morocco, Ghana, Nigeria, Egypt, Uganda, Kenya, South Africa, Botswana, and Mauritius.

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According to her “As Africa has now almost fully recovered from the COVID-19 pandemic, the world is now approaching another recession, witnessing geopolitical upheaval, supply chain disruptions, high inflation, and high-interest rate environments. “Despite this, access to capital markets is vital for economic and industrial growth, making countries less dependent on donor aid and

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loans from foreign governments to finance investment and expenditure.” Sanni stated that the report provides a comprehensive and in-depth analysis of the macroeconomic environment and the performance of the major capital markets across the continent of Africa for 2022 and offers an outlook for 2023. “The report includes a detailed analysis of the perfor-

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mance of major capital markets in Africa, including stock markets, bond markets, primary capital markets, FX, development finance, Environmental, Social, and Governance (ESG), amongst others. Additionally, it highlights key investment opportunities for current and prospective stakeholders,” she said. Reviewing the report, a senior partner at Biodun Adedipe & Co, Dr. Abiodun

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Adedipe said capital markets give access to countries to be less dependent on donor aid and loan from foreign governments, which is a major issue for African countries today. According to him, “It’s a very, very important one in the discourse of finance globally, that in the era we are in now, there is donor fatigue. So to that extent, we will begin to look at other means of raising funding for development.”

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MONDAY JANUARY 30, 2023˾ T H I S D AY

NEWS

MEDIA CODE OF ELECTION COVERAGE……

L-R: Media Specialist, Chido Onumah; Mass Communication Lecturer at the Department of Mass Communication, University of Lagos, Abigail Ogwezzy-Ndisika; General Secretary, Nigerian Guild of Editors, Iyobosa Uwugiaren, and Executive Director, International Press Centre, Lanre Arogundade, at stakeholders’ roundtable on media monitoring report on coverage of 2023 electoral process and public presentation of Nigerian Media Code of Election Coverage(revised edition 2022) in Abuja… recently

Nasarawa Bombing: Herders Take Vengeance to Tiv Farmers Ortom: Benue has no hand in bombing

Igbawase Ukumba in Lafia and George Okoh in Makurdi Suspected Fulani herdsmen have reportedly taken vengeance to Tiv farmers of Nasarawa State following a recent bombardment of persons said to be herders on the boundary of Benue/ Nasarawa States.This is just as the Benue State Governor, Samuel Ortom, has said it was mischievous to link his

government to killings. However, Governor Abdullahi Sule of Nasarawa had explained a drone was used to drop the bomb that killed 27 herdsmen in Kwateri, saying the bomb was not dropped by a Nigerian Air Force (NAF) aircraft as being speculated in some quarters. But the Tiv community of Nasarawa State yesterday alleged that there was ongoing attacks and killings of innocent

Fuel Scarcity: CSO Blames Saboteurs, Hails Kyari James Emejo in Abuja A group under the umbrella of Greater Nigeria Professionals (GNP) has blamed saboteurs for the lingering fuel crises particularly as the country inches towards the general election. In a statement signed by its chairperson, Ahmed Tahir, the group said those who are profiting from other people’s discomfort are behind the fuel scarcity in parts of the country. It pointed out that the act is apparently aimed at frustrating the Nigerian National Petroleum Company Limited (NNPCL) from ensuring adequate supply. The body maintained that it is curious that the fuel scarcity which was considered a thing

of the past suddenly reared its ugly head months to elections. The group, however, commended the Group Chief Executive Officer (GCEO) of NNPCL, Mele Kyari, for working round the clock to ensure adequate supply of petrol across the country. Tahir said, “Because of a poor understanding of what is going on; or for sheer mischief, Nigerians look for and find a scapegoat in the NNPC Ltd and its leadership under Mele Kyari. ‘If only they know the dynamics that combine to produce these fuel queues, they will be saluting Mr Kyari and the NNPC under his leadership, instead of maligning him.

10,000 Defect to APC in Kano Ibrahim Shuaibu in Kano

The Kano State All Progressive Congress (APC) has received over 10 thousand supporters who decamped from various political parties in the state to the APC. The parties that lost their supporters to the APC include NNPP, PDP, and APGA among others. The Convener of the occasion, Hajiya Ummu Salma Isiyaku Rabiu, said the purpose of the gathering was to receive political supporters from various parties, who have decamped to APC. The event took place at the efficient event centre in Kano yesterday under the USIR Northwest Project for 2023 led by the Convener, Rabiu. She said: “Today, we gathered here to celebrate these 10,000 people, who decided to leave their various political parties for our great party, the All

Progressives Congress (APC). “These are all card-carrying members of the PDP, NNPC, ADC, PRP, ADP, and other political parties, who have decided to leave darkness for light; to leave regress for progress, fear and intimidation for honor and integrity.” “As you can see, these people are here today to delineate the unity and progress of the APC as the only party in Nigeria. The party that has the interest of the people, the party that wants to keep making Nigeria better, and the party that loves Nigeria and Nigerians.” Rabiu explained that without the slightest doubt, Bola Tinubu’s antecedents as a freedom fighter (for the entrenchment of democracy in Nigeria), which culminated in his founding role in the APC’s formation, makes his choice very unique for the APC.

Tiv people by suspected armed herdsmen across the southern part of Nasarawa State as a vengeance for the recent bombardment. President of Tiv Development Association (TIDA) in Nasarawa State, Mr. Peter Ahemba, raised the alarm yesterday when speaking with journalists in Lafia, hence he appealed to both the federal and Nasarawa state governments to urgently intervene and halt the ongoing

attacks and killings. He alleged further that the Tiv people had been targeted and singled out for attacks by heavily armed herdsmen, stressing that scores of innocent Tiv farmers have so far been murdered and displaced from their communities across Doma, Keana and Obi Local Government Areas of the state. Ahemba pointed out that

intelligence report at the disposal of the leadership of TIDA indicated that the heavily armed herders were mobilising to launch more deadly attacks on Tiv settlements across the southern zone and parts of Kokona and Nasarawa Local Government Areas of the state to ensure total extermination of the Tiv nation in the state. He said: “Scores of our people have so far been massacred by

armed herders in the last few days and thousands displaced from across Doma, Keana and Obi LGAs of the state” “Chabo village has completely been reduced to ashes. A deadly attack was launched on Ajo village in Keana LGA, just as the entire Tiv population in Doma has been displaced while many others trapped in remote villages are being killed,” the TIDA President claimed.

Army Retiree Advises Serving Personnel to Plan for Retirement Rebecca Ejifoma The former Commander of Training and Doctrine Command, Maj-Gen Ademoh Salihu (rtd) has implored serving military personnel to start early to prepare for retirement. He gave this counsel at the pulling-out parade for retired Nigerian Army Signals (NAS) senior officers hosted by the Commander Corps of Signals,

Maj-Gen Garba Abdullahi in Marina Lagos. Salihu, who was the Special Guest of Honour on the occasion, admonished serving military personnel to continue to be loyal, creative and extra vigilant. He added: “You must continue to demonstrate total commitment to the security of the nation just as you have exemplified in the successes recorded in the fight

against terrorism/insurgency in the North East and other parts of the country.” Salihu further reminded the personnel that Nigerians, especially the retirees, were expecting a lot from them. “Let me also encourage serving officers and men of this prestigious corps, the NAS, to make early preparations for retirement. “You must not assume that 35

years is a long time and waste away precious time thinking you have enough time to plan for your retirement. The best time to prepare for your retirement is today,” he emphasised. He urged the personnel to develop themselves, put everything they ought to put in place early enough and build a good and healthy relationship based on mutual trust and respect.

Bello Flags Off Campaign in Kogi East, Says APC One Strong Family Ibrahim Oyewale in Lokoja Kogi state Governor, Yahaya Bello, yesterday flagged off the Tinubu/Shettima Presidential/ National and state Assembly campaign in Anyingba, Kogi East where he assured the people of an outstanding outing at the forthcoming polls. The governor asserted that what the party, All Progressives Congress (APC) has displayed at

Kogi East’s rally is the oneness of the party. He acknowledged that asides from that party supporters attended the party of their own volition out of their love and dedication coupled with their desire for dividends of democracy governor Bello said that party bigwigs and stakeholders from the eastern region were fully on the ground to deliver APC from all across

the board. Bello who presented flags to all the candidates in Kogi East, reiterated that Bola Ahmed Tinubu and his running mate Mr. Kassim Shettima, remained the presidential/vice presidential candidate the state was rooting for. He said the Kogi state APC was committed to coming up with the highest percentage amongst the entire 36 states for the Presidential, Senatorial/HOR

and State Assembly elections. In 2019 you delivered 100 per cent because you are trustworthy people and I believe this time similar feet would be repeated across the board, the governor stressed. The governor pointed out that such a result would give Kogi state a vintage advantage to demand certain dividends from the central government after its emergence.

‘NASENI Has Developed 150 Innovative Products’ The Executive Vice Chairman and Chief Executive of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Sani Haruna, has said that the agency has developed 150 innovative products across different sectors and geographies of the country. Haruna, who disclosed this in an

interaction with newsmen in Lagos after receiving Public Service Icon Award from The Sun Publishing Limited, many of made in Nigeria products would soon be in the market based on the inventions. According to him, NASENI was undergoing developmental transformation because President Muhammadu Buhari had opted

for the full activation of the Act of the agency. He said: “The new NASENI was made possible by the support and commitments of the Governing board, the management and staff of NASENI and all its development institutes/centres across the country. “The aggregate of the efforts, activities and results across NASENI

system has been acknowledged nationally. The development of over 150 innovative products which are outcomes and outputs of research for development is worthy of acknowledgement. I am indeed glad and proud to share this celebration with the entire NASENI family for your contributions thus far.”

NISER Boss Highlights Challenges in Managing Nigeria’s Diversity Yinka Kolawole inOsogbo Director-General of the Nigerian Institute of Social and Economic Research (NISER) Professor,Antonia Simbine has observed that due to perceived lopsidedness in the sharing of national resources,

Nigerians are clearly more divided now. This development, she said, had made it a huge task for the government to manage our diversity. Speaking at this year 2023 NISER Research Seminar Series (NRSS) on

the theme: ‘Ethnic Inequality, The Federal Character Principle, and the Reform of Nigeria’s Presidential Federalism’, Simbine noted that managing our diversity would require implementing policies and programmes that foster integration of the different ethnocultural groups

for national development. She said: “Since the country’s independence in 1960, issues and strategies of national integration have expectedly constituted national discourses on how to handle the country’s heterogeneous and highly culturally diverse society.”

MONDAY, JANUARY 30, 2023 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 26Jan-2023, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 197.15 198.30 4.25% Afrinvest Plutus Fund 100.00 100.00 11.81% Nigeria International Debt Fund 311.56 311.56 1.01% Afrinvest Dollar Fund 105.80 106.90 0.37% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.55% AIICO Balanced Fund 3.82 3.89 12.66% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.95% Anchoria Equity Fund 151.46 153.11 4.49% Anchoria Fixed Income Fund 1.22 1.22 -0.54% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 22.85 23.54 12.63% ARM Discovery Balanced Fund 537.90 554.12 19.23% ARM Ethical Fund 46.24 47.63 18.68% ARM Eurobond Fund ($) 0.00 0.00 -100.00% ARM Fixed Income Fund 1.12 1.12 10.07% ARM Money Market Fund 1.00 1.00 11.05% ARM Short Term Bond Fund 1.04 1.04 107.11% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 99.89 99.89 5.04% AVA GAM Fixed Income Naira Fund 1,103.96 1,103.96 -1.99% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.09 2.09 1.61% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.36 2.41 7.68% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 0.60% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.32% Paramount Equity Fund 18.53 18.87 3.48% Women's Investment Fund 148.69 150.49 2.57% CHD Nigeria Bond Fund 109.18 109.18 11.94% CHD Nigeria Dollar Income Fund 1.06 1.06 9.32% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.52% Cordros Milestone Fund 140.89 141.92 2.37% Cordros Fixed Income Fund 106.17 106.17 9.98% Cordros Halal Fixed Income Fund 103.72 103.72 8.54% Cordros Dollar Fund ($) 113.46 113.46 5.71% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 13.37% Emerging Africa Bond Fund 1.08 1.08 9.99% Emerging Africa Balanced Diversity Fund 1.11 1.11 41.32% Emerging Africa Eurobond Fund 105.09 105.09 1.44% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1483.2 1483.2 12.52% FBN Balanced Fund 206.03 207.47 3.17% FBN Halal Fund 123.99 123.99 13.14% FBN Money Market Fund 100.00 100.00 13.98% FBN Dollar Fund 120.80 120.80 6.69% FBN Smart Beta Equity Fund 174.53 177.10 5.39% FBN Specialized Dollar Fund 104.66 104.66 9.38% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1

Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

Bid Price 3,733.76 100.00 1.14

Offer Price 3,733.76 100.00 1.14

Yield / T-Rtn 8.19% 13.87% 5.96%

FSDH Dollar Fund 1.14 1.14 5.91% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 12.18% Vantage Balanced Fund 3.13 3.18 6.30% Vantage Guaranteed Income Fund 1.00 1.00 8.62% Kedari Investment Fund (KIF) 0.00 0.00 0.00% Vantage Equity Income Fund (VEIF) - June Year End 1.26 1.30 4.04% Vantage Dollar Fund (VDF) - June Year End 1.05 1.05 8.34% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.67 12.71 2.79% Meristem Money Market Fund 10.00 10.00 11.80% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.31 101.31 8.83% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.89% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.76 130.14 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.00 1.00 11.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,740.31 3,771.75 10.36% Stanbic IBTC Bond Fund 245.82 245.82 4.35% Stanbic IBTC Ethical Fund 1.47 1.49 17.46% Stanbic IBTC Guaranteed Investment Fund 334.02 334.02 6.67% Stanbic IBTC Iman Fund 271.35 274.66 16.18% Stanbic IBTC Money Market Fund 1.00 1.00 12.91% Stanbic IBTC Nigerian Equity Fund 12,800.66 12,944.95 17.19% Stanbic IBTC Dollar Fund (USD) 1.37 1.37 6.14% Stanbic IBTC Shariah Fixed Income Fund 121.52 121.52 3.94% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 115.74 115.74 8.80% Stanbic IBTC Absolute Fund 4,593.05 4,593.05 7.97% Stanbic IBTC Aggressive Fund 3,408.04 3,451.19 22.59% Stanbic IBTC Conservative Fund 4,322.97 4,338.69 13.55% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.00 1.02 4.48% United Capital Balanced Fund 1.46 1.49 6.89% United Capital Wealth for Women Fund 1.19 1.21 2.57% United Capital Sukuk Fund 1.11 1.11 9.85% United Capital Fixed Income Fund 1.96 1.96 7.60% United Capital Eurobond Fund 125.88 125.88 5.92% United Capital Money Market Fund 1.00 1.00 14.02% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/A N/A N/A Zenith ESG Impact Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 4.41 4.51 9.87% Vetiva Consumer Goods Exchange Traded Fund 6.19 6.29 5.91% Vetiva Grifﬁn 30 Exchange Traded Fund 19.28 19.48 8.99% Vetiva Money Market Fund 1.00 1.00 11.02% Vetiva Industrial Goods Exchange Traded Fund 24.42 24.62 22.08% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 140.41 142.41 -10.93% REITS NAV Per Share

Yield / T-Rtn

114.09 53.06 101.31 9.91

7.63% 3.98% -13.22%

Bid Price

Offer Price

Yield / T-Rtn

14.31 138.11 107.74 17.40 16.40

14.41 140.51 109.60 17.50 16.50

2.30% 8.23% 7.75% 1.33% 5.88%

NAV Per Share

Yield / T-Rtn

106.75

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

T H I S D AY ˾ DAY JANUARY 30, 2023

CITYSTRINGS

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

Relief for Arepo Journalists' Estate Residents After years of pain and anguish over the terrible state of their roads, residents of Ogun State recently heaved a deep sigh of relief after the state governor, Dapo Abiodun completed and inaugurated the 2.35km Arepo Journalists' Estate Road, Rebecca Ejifoma reports

Executive Governor, Ogun state, His Excellency Prince Dapo Abiodun receiving Exemplary Leadership Award of Excellence from the Chairman of Journalists Estate Residents Development Association, Phase 1, Mr. Jide Oke while the Lagos NUJ Chairman, Mr. Leye Ajayi (left) the Deputy Governor of Ogun state, Engineer Noimot Salako Oyedele , former Chairperson Lagos NUJ, Mrs Olufunke Fadugba and Hon. Commissioner for Information & Strategy, Ogun state, Hon. Waheed Odusile look on during the Governor’s visit and media interaction with the Journalists at the Journalists Estate after the oﬃcial commissioning of Arepo-Journalists Estate Road recently in Arepo, Ogun State

he reconstruction of the Arepo Estate Road in the ObafemiOwode Local Government Area of Ogun State was a ray of hope for residents, pedestrians and motorists thanks to Governor Dapo Abiodun. For years, the people had wailed about the agonising experience on the road due to its deplorable state. First, the potholes provoked accidents, and then the tyres of vehicles bore the brunt of the bad roads. Describing the road project as remarkable, the governor crossed his heart on his administration’s commitment to providing good governance, adding that the completion is a demonstration of his administration’s appreciation for the support given by the people of the Arepo Community. While he expressed fulfillment in achieving one of his election promises in 2019 – to fix the road if he was elected, he sang his praises. "Today is another remarkable day in the history of the state as well as the residents of the Arepo community." He recounted: "Many of you here will recall that during my electioneering campaign in 2018/2019, I promised that I will reconstruct this road, which became a nightmare and was causing untold hardship to the people residing in this community." With this, the governor firmly re-echoed his administration's determination to raise the bar in road construction in a few years to come. He continued, "Our administration has constructed most roads in Ogun Central, we will continue to look after the welfare of our people. We are determined to be fair and participatory; we will not develop a section of the state at the expense of others. “I want to assure you that we will complete all uncompleted projects embarked upon by our predecessor in office, which have direct positive socio-economic wellbeing for our people, and we will continue to make life better for the people." While appealing to the youth against being a tool before and during the 2023

Arepo Journalist Road Ogun

general election, Abiodun encouraged the residents to take ownership of the newly refurbished road. The Olu of Arepo, Oba Atunda Oyebi could not stop hailing the governor for a job well thought and done. He reminisced about the plight of residents on the road before its reconstruction. According to him, at a point, the floods overwhelmed the entire stretch of the road. He commended further: “We

thank Governor Dapo Abiodun for his good works to the people of the Arepo community. We pray for the successful outing of your second-time bid. I told them that since the project had commenced, the governor will fulfill it”, he added while speaking in the Yoruba language. Among the dignitaries present at the occasion were royal fathers in the Yoruba land including the Akarigbo of Remo Land; Alake of Egbaland; Awujale of Ijebuland; Oba of Isheri and Olu of Ila among others who gave their goodwill messages. One such personality is the Chairman of Area CDC, Mr Ganiyu Kazeem. He

For years, the people had wailed about the agonising experience on the road due to its deplorable state. First, the potholes provoked accidents, and then the tyres of vehicles bore the brunt of the bad roads

narrated how the efforts of the community to reset the road were an idea dead on arrival. Kazeem also mentioned that a handful of residents relocated to Lagos and other nearby towns as a result of the pitiful state of the road. "This is as the value of landed property in the community crashed, but today, reprieve has come through the governor. "Arepo residents did not believe in the government due to several disappointments from the past governments, even as the immediate past one, only erected a signpost for his eight years in office without any construction to show for it," he frowned. Giving his goodwill message, the Chairman of JERDA, Phase 1, Jide Oke expressed gleefully that the economic value of the standard road is unequalled. That is why Arepo has become a high-quality mega-city with increased commercial activities on the account of a good road network. The Arepo-Journalists road, according to Oke is a testimony that Abiodun is a man of his word and media friendly, adding that this feat is unprecedented. Chorusing the words of the others, the former Chairman of Nigeria Union of Journalists (NUJ), Lagos State Council, Mrs Funke Fadugba commended the governor for ensuring the construction and completion of the road. Fadugba said the road was a no-go area until the intervention of the governor, which salvaged the situation. “We are happy and grateful, as Mr Governor has given the road a face-lift. "Your second term bid is a done and dusted deal in view of all your giant strides in infrastructural renewals and industrial revolution, which has won you the prestigious national award." For Abiodun, the kind words of his people wrapped his weary heart and forced his pen to commit even further. Thus, he pledged to build a befitting healthcare centre with an ambulance in Arepo in the next four months and to complete the Journalists Estate civic centre.

MONDAY JANUARY 30, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY, JANUARY 30 2023

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Pope Francis to Visit Fragile DR Congo, South Sudan Pope Francis starts a trip on Tuesday to two fragile African nations often forgotten by the world, where protracted conflicts have left millions of refugees and displaced people grappling with hunger. The January 31 to February 5 visit to the Democratic Republic of Congo (DRC) and South Sudan takes the 86-year-old pope to places where Catholics make up about half of the populations and where the Church is a key player in health and educational systems as well as in democracy-building efforts. The trip was scheduled to take place last July but was postponed because Francis was suffering a flare-up of a chronic knee ailment. He still uses a wheelchair and cane, but his knee has improved significantly. Both countries are rich in natural resources — DRC in minerals and South Sudan in oil — but beset with poverty and strife. Francis had planned to visit the eastern city of Goma, but that stop was scrapped following the resurgence of fighting between the army and the M23 rebel group in the area where Italy’s ambassador, his bodyguard and driver were killed in an ambush in 2021. Francis will stay in the capital, Kinshasa, but will meet there with victims of violence from the east....

UK: Military Training in Russian Schools Evokes Soviet Days

The return of basic military training in Russia’s secondary schools highlights an increasingly militarized atmosphere in Russia, the British Defence Ministry said Sunday in its daily intelligence update on Russia’s invasion of Ukraine. The training for secondary schools becomes mandatory in September. Russia announced similar mandatory training for university students in December. The return of the military curriculum to Russian schools, the British ministry said, is likely a deliberate “evocation of the Soviet Union,” which had a similar military curriculum for schools. On Saturday, a Russian missile strike on a city in the eastern region of Donetsk killed at least three people as Ukrainian forces engaged Russian troops in ferocious battles in several hot spots in the east, where Moscow has been pressing its offensive with increased urgency amid Western pledges of modern tank deliveries for Kyiv. Ukrainian President Volodymyr Zelensky used the occasion to press Western partners to supply his nation with long-range precision missiles, known as ATACMS, to reduce Russia’s ability to target cities.....

French PM Says No Dice on Pension Age as Strikes Loom

France’s prime minister on Sunday ruled out backtracking on a plan to raise the retirement age as unions prepared for another day of mass protests against the contested reform. An increase in the minimum retirement age to 64 from the current 62 is part of a flagship reform package pushed by President Emmanuel Macron to ensure the future financing of France’s pensions system. After union protests against the change brought out over a million people into the streets on January 19, the government signalled there was wiggle room on some measures, including the number of contributing years needed to qualify for a full pension, special deals for people who started working very young, and provisions for mothers who interrupted their careers to look after their children. But the headline age limit of 64 was not up for discussion, Prime Minister Elisabeth Borne said Sunday. “This is now non-negotiable,” she told the FranceInfo broadcaster.

More than 800 Casualties Recorded in Iran Earthquake

In northwestern Iran, three people were killed and more than 800 injured Saturday in a 5.9 earthquake centred near the city of Khoi in the West Azerbaijan province, near the border with Turkey.

The injured have been transferred to hospitals in Khoi and a nearby town, Mohammad Sadegh Motamadian, the governor-general of West Azerbaijan province, said Sunday. Motamadia also said the earthquake had caused damage in 70 villages. After Urmia, Khoi is the largest city in West Azerbaijan. Iran has recently suffered several major earthquakes as it sits on several major fault lines..

China Announces Resumption of Visas for Japanese

China announced it was resuming issuing visas for Japanese travelers beginning Sunday, ending its nearly three-week suspension in an apparent protest of Tokyo’s tougher COVID-19 entry requirements for tourists from China. The decision was announced in a statement posted on the Chinese Embassy’s website. China stopped issuing new visas in Japan January 10 in apparent retaliation for Tokyo’s requirement of additional tests for Chinese tourists in late December, ahead of the Lunar New Year holidays. Japan cited soaring infections in China after it abruptly eased coronavirus restrictions as well as scarce COVID-19 data from Beijing. Japan reopened its borders for individual tourists in October, allowing travellers with proof of vaccination instead of testing at airports unless they show symptoms. But on December 30, Japan required all travellers from China to show pre-departure negative tests and take an additional test upon arrival. China also stopped issuing visas to South Koreans after South Korea in early January did the same for short-term travellers from China. Last Friday, South Korea said it would keep the measure in place through the end of February over concerns that the spread of COVID-19 in China may worsen following Lunar New Year travel. Health authorities in China have said infections have peaked, but there are concerns abroad that Beijing was not sharing enough data.

WHO: Over 1.6bn People Infected with Neglected Tropical Diseases

Ahead of World Neglected Tropical Diseases Day Monday, the World Health Organization calls for action to tackle these debilitating illnesses, affecting an estimated 1.65 billion people globally. A diverse group of 20 parasitic and bacterial tropical diseases is categorized as neglected. This is because they disproportionally affect people who live in poor, remote communities and are not on the list of global health priorities.

Ibrahima Soce Fall is the director of WHO’s Department of Neglected Tropical Diseases. He says insects transmit these vector-borne diseases in areas that lack safe water, sanitation, and access to health care. He says they also are spread via contaminated food and water. Fall says they cause immense suffering because of their disfiguring and disabling impact. “If you take diseases like onchocerciasis, you know, so-called river blindness because it can lead to blindness. The same for trachoma. So, these are so many diseases that are fatal and very debilitating,” he said. Trachoma is an eye disease that can cause permanent blindness. Fall says these diseases do not attract the amount of investment needed to access health services or develop new tools for diagnostics, treatments, and vaccines.

UK Prime Minister Fires Conservative Party Chair

British Prime Minister Rishi Sunak has fired the chairman of the Conservative Party. Sunak removed Nadhim Zahawi on Sunday following an investigation into Zahawi’s personal taxes. The prime minister said in a letter to Zahawi that “it is clear that there has been a serious breach of the Ministerial Code.” Laurie Magnus, the independent adviser who conducted the investigation into Zahawi’s taxes, said in a letter to Sunak that Zahawi showed “insufficient regard” for the requirement “to be honest, open and an exemplary leader through his own behaviour.”

24 Passengers Die in Peru Bus Crash Police in Peru say 24 people died Saturday when a bus carrying 60 passengers plunged over a cliff in the El Alton district in the northern region of the country.

Agence France-Presse reports that the bus had departed from Lima and was headed to Tumbes, when the accident happened at a difficult road location known as “Devil’s Curve.” The injured were transported to nearby hospitals. Officials said many of the bus passengers were from Haiti. The Q’Orianka Tours Company owned the bus...

Ramaphosa: South Africa Not Ditching Coal ‘Just Like That’

Coal-rich but energy-starved South Africa will not immediately abandon its fossilfueled electricity generating plants as it transitions to cleaner forms of power, President Cyril Ramaphosa said Sunday. South Africa, one of the world’s largest polluters which generates about 80 percent

of its electricity through coal, is in the grip of an energy crisis. It has been blamed on ageing power stations, sabotage and theft of coal and spare parts by organized gangs. Since 2021, the country has secured several billions of dollars in international loans and grants to support a green transition. But Ramaphosa cautioned against “the perception that we are called upon to make a trade-off between energy security and a just transition to a low-carbon economy.” Addressing his African National Congress (ANC) party’s senior officials, he said it was not the case “that we must make a choice between coal and renewable energy.” “Our energy architecture is 80-percent coal-powered, there is just no way we are going to close those power stations... just like that,” he said. Two recently built plants, ranked among some of the biggest coal-powered stations in the world, are beset by design problems.

UN Rights Chief Demands Political, Judicial Reform in Venezuela

United Nations High Commissioner for Human Rights Volker Türk Saturday called on Venezuela to reform its political and judicial system and to release arbitrarily detained prisoners. He made his remarks at the end of a two-day official visit to Venezuela. During his visit, Turk met with senior officials, civil society representatives, victims’ groups, and human rights defenders. He said that from what he had seen and heard, it was clear Venezuelan society was riven by a profound loss of trust between the government and the people. He said much work is needed to overcome these divisions and rebuild the social contract among Venezuelans. Speaking from the capital, Caracas, at the end of his visit, Türk said Venezuela faced many political, economic, and social challenges. However, based on his discussions, he said there appears to be a general recognition that the country’s justice and security systems must be reformed. After meeting with Maduro Friday, Türk said Maduro publicly expressed his readiness to work toward improving the justice system. He said he, in turn, offered his office’s expertise and support to further reforms.

Environmentalists Protest Airport Project Near Albanian Bird Sanctuary

Environmentalists protested over the weekend at the building site of a new airport in Albania’s south meant to boost tourism but which they say will endanger sanctuaries for some 200 bird species, including flamingos and pelicans. The picturesque Vjose-Narte lagoon close to Albania’s Adriatic seaside is a crucial stop for flocks of birds in their annual migration between Europe and Africa. The government is building the airport just five kilometres (three miles) from the Adriatic coast with pristine sandy beaches, which the poor Balkan nation hopes will attract more foreign tourists. “For those who think this airport will bring development, in reality, this airport will bring only destruction,” tourist guide Alben Kola told Reuters on Saturday as he and more than 100 environmentalists and ornithologists held their protest. The European Union, which Albania aims to join one day, has said the airport project, launched in December 2021 and due for completion at the end of 2024, was undertaken in contradiction with national and international laws on protecting biodiversity. The committee of the Bern Convention that works to protect European wildlife and natural habitats has said Albania should suspend the airport construction.

MONDAY, JANUARY 30, 2023 • T H I S D AY

NEWS

PROMOTING INTRA-AFRICAN TRADE... L-R: Managing Director/Chief Executive Oﬃcer, NEXIM Bank, Mr. Abba Bello; Executive Vice President, Afreximbank, Mrs. Kanayo Awani, and Executive Director, Corporate Services, NEXIM Bank, Dr. Bala Bello, during a courtesy visit by the Afreximbank team to NEXIM Bank in Abuja…recently

NAFDAC: We’ll Intensify War against Substandard, Falsified Medicines

Onyebuchi Ezigbo in Abuja

The National Agency for Food, Drug Administration and Control, NAFDAC has vowed to confront the menace of substandard and falsified medicines in the country with the implementation of pharmaceutical traceability strategy to safeguard the health of the Nigerian populace. The Director General, Mojisola Adeyeye, stated this at the Traceability workshop in Port Harcourt, Rivers State. The workshop organised by NAFDAC was aimed at finalising the draft Traceability of pharmaceutical products regulations in the country. According to Adeyeye, in a statement by NAFDAC Resident

Media Consultant in Lagos on Sunday, Sanyo Akintola, the onerous task of safeguarding the health of the nation was daunting in the face of the chaotic drug distribution system currently existing in Nigeria. She emphasised that the falsification and diversion of health commodities carry very serious health and economic consequences. The NAFDAC boss opined that the consideration of these consequences vis-à-vis the mandate of the Agency to regulate and control among other things, the distribution of drugs and other regulated products are sufficient motivation to implement pharmaceutical traceability to complement the fight against the menace of substandard and

falsified medicines and improve the regulatory control of the medicines supply chain in Nigeria. She further explained that NAFDAC was committed to the implementation of pharmaceutical traceability in Nigeria as part of the regulatory strengthening and underscoring its mandate. She reiterated that NAFDAC had developed a 5-Year Traceability Implementation plan in line with the objectives of the Nigeria Pharmaceutical Traceability Strategy to achieve supply chain visibility and strengthen interventions against the scourge of substandard and Falsified Medicines by the end of her second term. Adeyeye, however, stated that the development, gazetting and dissemination of the traceability

of pharmaceutical products regulations was essential for the adoption and enforcement of the provisions of the Nigeria Pharmaceutical Traceability

Michael Olugbode in Abuja Kaduna State Governor, Mallam Nasir El-rufai has pledged to support families of slain officers and men of the Nigeria Security and Civil Defence Corps (NSCDC), who paid the supreme price in the course of protecting miners and mining sites in the state. The support was to cushion the effects of the hardship that the loss of their breadwinners

Reveals 24 LGAs are without banks in the state About 24 hours after advising President Muhammadu Buhari to postpone his scheduled state visit to Kano State on Monday, the state governor, Dr. Umar Ganduje, yesterday made a u-turn, saying the state was now prepared to receive the president. The governor yesterday led a delegation of critical stakeholders from the state to meet Buhari in his country home in Daura, Katsina State after which he revealed the change of position to newsmen. Asked if the state was prepared to host the president for a two-day visit starting from Monday, the governor said, "We are very much ready to receive him and we have a lot for him to commission including federal government projects and state

government projects. They are state-of-the-art projects." Ganduje, had at an interactive session at the weekend with stakeholders including scholars, legislators, political leaders and business community in the state, revealed that his government had requested the president to postpone the trip, saying the state was deeply concerned about the hardship principally induced by the ongoing cash swap from old to redesigned notes. He had said the decision was taken to avoid any unforeseen circumstance. Consequently, the state government had written a letter to the president outlining the reasons why the planned visit is no longer auspicious at this time. Despite Ganduje's objection, Buhari had, however, insisted on going ahead with the Monday

visit. Presidency sources had disclosed that he would go there to commission some projects implemented by the federal government. But during Sunday's visit to the president, Ganduje affirmed that he led the delegation to Daura over the issue of the ongoing currency swap and was happy with him. He said: "Seeing is believing. You can see that I have led a powerful delegation from Kano State on the issue of new naira notes and we have seen Mr. President. We have laid the complaints of the Kano people and we are very happy. "He explained to us and also he assured us that the time is extended and the quantity of new naira (notes) will increase so that the suffering of the people will be reduced.

to support advocacy for all stakeholders to implement traceability in distribution of pharmaceuticals or supply chain.

El-rufai Pledges Support for Slain NSCDC Men

Ganduje: Kano Now Ready for Buhari’s Visit Deji Elumoye in Abuja

Strategy. She said the regulation, accompanied by guidelines and compliance requirements would provide a legal framework

"We informed him that Kano is the most populous state in the federation and also the commercial nerve center of the northern part of Nigeria, second to Lagos. "But in terms of cash transaction, Kano is much higher than Lagos because Lagos has gone far in terms of cashless society, cashless transaction. But Kano State being comparatively a rural state, so to say, still we have 24 local governments without banks. Most of the banks are concentrated within Kano metropolitan. "So, you can imagine the suffering of the rural areas, rural people in terms of cash transaction. But we are happy that the time has been extended and also the quantum of the naira notes will be increased. "So, we are so grateful to the President for effort."

ought to have created. El-rufai made the pledge when he hosted the Commandant General (CG) of NSCDC, Dr. Ahmed Audi, recently at the Sir Kashim Ibrahim Government House, Kaduna, where he condoled with the CG on the death of the men who died in active service. A statement yesterday by the spokesman of the NSCDC, Olusola Odumosu stated that the Kaduna Governor sympathised with the loved ones killed officers and the NSCDC family, promising continuous support in terms of logistics, operational equipment, and working tools to improve its operational services. The governor expressed satisfaction with the performance of the Corps, especially in the protection of critical assets and infrastructure in the state, citing the mining sector as significant to the growth of the nation's economy. He said activities of bandits and incidences of attacks on innocent citizens had become so worrisome. The governor in order to enhance the closeness of security services to the grassroots and accessibility to the people, directed all local government chairmen in the state to build more outposts for the Corps in their councils. He commended the CG for bringing about transformational changes in the Corps, like the establishment of the Special Female Squad, which is driving the Safe Schools Initiative, among other efforts. The NSCDC helmsman on his part,, thanked the governor for his magnanimity in remembering the bereaved families. He also commended his heart of

kindness and humane personality even as a Governor with loads of state issues in mind, adding that the bereaved families will be grateful for this kind gesture. Audi while appreciating him for the promised given on building of more outposts, stated that the gesture would aid easy communication, reinforcement of personnel and reduce response time to emergencies. He noted that the governor's support came at the right time because in order to improve the operational activities of the Corps in the state, he had already approved the creation of additional eight Divisional offices, three Area Commands and more Outposts in the state. Audi assured the governor of the Corps' determination and commitment to doing its best in securing lives and protecting critical assets and infrastructure in the state without compromise. He promised to invest in adequate training and retraining of personnel by organising more refresher courses that will help upscale the skills, prepare, equip, and properly position the personnel well for undertaking different security assignments. The Commandant General was accompanied by the NSCDC Zone B Commander, ACG Muhammed Lawal Haruna; Kaduna State Commandant, Idris Yahaya Adah; newly deployed Lagos State Commandant, Usman Alfadarai and Akwa Ibom State Commandant, Dr. Yusuf Imam as well as the Director of Public Relations of the Corps, Deputy Commandant Olusola Odumosu and other senior Officers.

MONDAY, JANUARY 30, 2023 • T H I S D AY

NEWS

NEMA STAKEHOLDERS' MEETING... L- R: Director, Human Resources, National Emergency Management Agency (NEMA), Musa Zakari; Director General, NEMA, Mustapha Habib and Special Assistant to DG NEMA, Mohammed Idris and Course facilitators, Prof. Lee Miles, during the international disaster management executive course for Nigerian Emergency Management Stakeholders in Abuja recently ENOCK REUBEN

Feb. 25: UN, US Donate AntiMine, Bomb Detectors to Police

IG deploys bomb experts to entry, exit points, to sweep strategic locations FHQ trains police on use of equipment Orders AIGs, CPs to engage military, other security agencies Kingsley Nwezeh in Abuja Ahead of this year’s general election, starting February 25, the United Nations Mine Action Service (UNMAS) and United States Nuclear Smuggling

Detection and Deterrence (US NSDD), have donated anti-mine, bomb detectors and bomb sweepers among other equipment to the Nigeria Police. The gadgets included pack eye back pack radiation

Kwankwaso Lacks Capacity to Govern Nigeria, Says Ex-NNPP Scribe

Wole Ayodele in Jalingo

Former North East Zonal Secretary of the New Nigeria Peoples Party (NNPP), Dr Liman Sunday Babayo, took a swipe at the presidential candidate of the party, Dr Rabiu Musa Kwankwaso, saying he lacked capacity to govern the country. Babayo, who made the revelation while fielding questions from journalists at the Press Centre in Jalingo, further revealed that the NNPP has no structure in the North East zone. Babayo, who told pressmen that he was Jalingo to inform his political allies of his decampment to the Peoples Democratic Party (PDP), disclosed that 12 out of the 16 executive members of NNPP were ghosts while only 4 of them were actually running the affairs of the party in the zone. "12 out of the 16 zonal executives are ghosts members and this has hampered the operation of the party in the zone because 1/3 of the members is required to form quorum and take decisions and that was why myself and the other three members lost faith in the party," he said. Justifying his assertion that the

NNPP leader lacked capacity to run the country, Babayo noted that there had been a crisis between the party executives and party candidates in Bauchi State, which was reported to Kwankwaso five times but couldn't resolve it “In Bauchi State, the state executives of the NNPP and their candidates have been at loggerheads. As zonal executives of the party, we reported the issue to the presidential candidate five times but he failed to resolve it. How can someone, who cannot resolve the internal crisis of the party in Bauchi State resolve the problem of Nigeria?” he asked. He, however, noted that he and thousands of his supporters resolved to join the camp of Atiku Abubakar due to the hardship the current administration has subjected Nigerians to,saying PDP would salvage the fortunes of the country. “Under the present administration of APC, nowhere in Nigeria is secured. This was not so when PDP was there for 16 years. We believe that if PDP comes back into power through Atiku Abubakar, he will restore peace and security across the country," he said.

detectors, electronic control measure, frequency jammers, thermo scientific RIIDEye, viken detection nighthawk, thermo scientific first defender, and F3 mine lab-deep mine detectors and others designated to bases, sub-bases and other operational formations of Explosive Ordinance Department (EOD) of the police. Following the development, the Inspector-General of Police, Usman Baba, weekend, ordered the deployment of the Explosive Ordinance Disposal (EOD) and Chemical Biological Radiological Nuclear (CBRN) personnel at all entry and exit points of the country, who were put on alert in order to prevent the importation of explosive materials illegally. He also ordered that measures be put in place to ensure proper sweeping of strategic locations to prevent the import of CBRN

and high-yield explosives into public spaces. A statement by Force Headquarters, said it concluded the training of its officers attached to the Explosive Ordnance Disposal – Chemical, Biological, Radiological and Nuclear (EOD-CBRN) Unit. It said the training, which discussed established protocols for safe explosives disposal and preventive measures ahead of the elections was approved by Baba, as part of his vision to ensure strategic and timely training and retraining of police officers, particularly, those with dynamic specialisations. "At the conclusion of the training and quarterly conference of commanders and heads of EOD formations across the country which held at the EOD Annex Office, Bank Anthony Way, Ikeja-Lagos State, the Commissioner of Police in

charge of the Unit, CP Zannah Shettima, who represented the IG, supervised the distribution of some contemporary gadgets donated by the United Nations’ Mine Action Service (UNMAS), and United States Nuclear Smuggling Detection and Deterrence (US NSDD), and others procured through the Special Intervention Fund of the IGP to bases, sub-bases and other operational formations of EOD," he said. The statement said the IG assured the people that the Nigeria Police, emplaced measures to ensure proper sweeping of strategic locations to prevent the import of CBRN and high-yield Explosives into public spaces. Similarly, EOD-CBRN personnel at all entry and exit points of the country were put on alert to be eagle-eyed in order to prevent the importation

of explosive materials illegally. He also reiterated the leadership and coordinating roles the NPF were charged to carry out in the internal security architecture and election security management in Nigeria "The Inspector-General of Police has equally ordered Commissioners of Police and their respective supervisory Assistant Inspectors-General of Police in the 17 Zonal Commands, to continually engage with the military and other security agencies that are recognised members of the Inter-Agency Consultative Committee on Election Security (ICCES) to solidify the already designed operation order cum deployment strategies emplaced towards the smooth and peaceful conduct of the 2023 general election,” the statement stated.

Buhari Felicitates with Osinbajo's Father-in-Law, Soyode, at 80 Deji Elumoye in Abuja President Muhammadu Buhari has congratulated Vice President Yemi Osinbajo's father-in-law, Chief Olutayo Soyode, as he marked his 80th birthday anniversary yesterday, January 29th, 2023. In particular, the president joined the celebrant's daughter, Mrs Dolapo Osinbajo, family, close friends and associates to felicitate with the esteemed octogenarian.

In a release yesterday by his Media Adviser, Femi Adesina, the president used the occasion to celebrate a worthy patriot and a man of honour, with strong commitment to family values, education and Nigeria's socio-economic development. Buhari acknowledged the contributions of Soyode to national development, including his role as a trained marine engineer, and in politics. “He was a stalwart of the Action Congress of Nigeria

(ACN) and remains a chieftain of the All Progressives Congress in Lagos State, where he is a member of the Presidential Campaign Council. “A longstanding progressive, he was a strong member of the Unity Party of Nigeria, founded by his late father-in-law, the sage, Chief Obafemi Awolowo, (SAN) during the Second Republic. “Chief Soyode, who was an active follower of the late Premier of Western Region, has shown exemplary leadership

qualities as a public intellectual and someone who is very passionate about education, people and giving back to his community and nation. “President Buhari wished him many more years of impact from his plethora of wisdom and life experiences that the younger generation, and the nation at large, will surely benefit from. The President also prayed for God’s continued guidance and good health for him,” the statement stated.

MONDAY JANUARY 30, 2023 ˾ T H I S D AY

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NASENI BOSS RECEIVES PUBLIC SERVICE AWARD…

L-R: A former Governor of Ogun State, Aremo Segun Osoba; Executive Vice Chairman/ Chief Executive of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Sani Haruna, and Sen. Ben Murray-Bruce, after the presentation of Public Service Icon Award to Haruna by THE SUN Publishing Limited in Lagos…recently

Gunmen Kill Three Police Officers in Ebonyi/Enugu Boundary

Benjamin Nworie in Abakaliki

Suspected gunmen yesterday attacked a police checkpoint at the Ebonyi/Enugu States boundary and shot three police operatives to death. The Ebonyi State Police

spokesman, DSP Chris Anyanwu, confirmed the attack. He said the hoodlums operated in two Toyota Sienna vehicles, drove into the checkpoint, and opened fire on the policemen.

Youths Protest Fuel Scarcity, Price Hike in Plateau Seriki Adinoyi in Jos

Nigerian Youth Congress for Peace and Development (NYCPD) yesterday protested against persistent scarcity of fuel across the country, and the unbearable hike in price by the few independent marketers that have the product. Addressing journalists in Jos, the Plateau State capital, the group, led by its President, Dennis Ebi, described the scarcity as artificial, and the hardship Nigerians are facing as unbearable, calling for the head of the Minister of State for Petroleum, Chief Timipre Sylva. Ebi said: “The recent adjustment in the pump price

was done without adequate consultation with relevant stakeholders in the oil and gas value chain. “To our greatest surprise, Sylva, the minister of State for Petroleum Resources, like other Nigerians first got to know about the increment of the price from rumour mills. That triggered him to issue a statement through his Media Adviser, Mr. Horatius Egua, denying the obvious fact of the adjustment and also assured Nigerians that President Muhammadu Buhari hasn’t approved the upward review of petrol price. He also assured Nigerians that the president has not seen any reason why the price of the product has to go up.”

Anyanwu said: “Yesterday’s attack by suspected gunmen at Ebonyi/Enugu boundary took place at about 1808hrs. Three police personnel of Operation

Safer Highway were fatally injured and later confirmed dead. Hoodlums operated in two Toyota Sienna vehicles, drove into the check-point, and

opened fire on the policemen.” An eyewitness, who recounted his ordeal, noted that the gun duel lasted for long, as they ran into the

bushes for safety. He said the vehicular movements only started when military officers were deployed on the scene.

Insecurity: FG Has Failed in Its Core Mandate, Says Chidoka Former Aviation Minister, Osita Chidoka, yesterday berated the federal government over the nation’s security challenges, saying it has failed in its core mandate. Chidoka stated this during an interview on Roadmap 2023, a Channels Television’s programme that highlights preparations for the general elections.

Chidoka, who is also a chieftain of the Peoples Democratic Party (PDP), said the current security situation showed that the ruling All Progressives Congress (APC) had failed in securing lives and properties since taking over the helm of affairs in the country. Noting that most security agencies are squarely within federal control, Chidoka stated

that the buck can’t be passed. He said:“The federal government controls the army, police, the State Security department, they control the prisons. The federal government has failed in the discharge in the single responsibility that the Constitution of Nigeria gave to the Federal Government. We are going to devolve powers to the state governments to play

the role of security officers of their states in reality.” According to him, Nigeria is under policed with training of security operatives poor in tackling the myriads of security threats in the country. He therefore, called for a strategy in the recruitment and training of security personnel, especially police officers.

Ekiti PDP Senatorial Candidate Lauds Party Leadership for Lifting Suspension

Gbenga Sodeinde in Ado Ekiti

The Peoples’ Democratic Party (PDP) Senatorial Candidate for Ekiti North, Mr. Funso Ayeni, has lauded the National Working Committee (NWC) of the party for lifting the suspension imposed on him, which was a fallout of the aftermath of the Presidential rally held in the state recently. The NWC had after the

Atiku/Okowa presidential rally held in Ado Ekiti, suspended five House of Representatives candidates and two senatorial candidates of the party over alleged anti-party activities. But the NWC of the party, had through a statement by the National Publicity Secretary, Mr. Debo Ologunagba, on Saturday announced the lifting of the suspension on Ayeni and the House of Representatives

candidate for Ekiti North federal constituency II, Mr. Ajayi Babatunde Samuel. According to the statement, the decision to lift the suspension was sequel to the report of the disciplinary committee which recommended the lifting of the suspension on the ground that they have “shown manifest remorse, apology for their conduct and affirmed loyalty to the party, as

well as, renewed commitment towards the success of the PDP at all levels in the 2023 general elections.” In his reaction to the lifting of the suspension, Ayeni appreciated the party leadership for their painstaking efforts, not only in repositioning the party but by galvanising members to work for the victory of the candidates in the forthcoming elections.

Connection Enhances Capacity to Respond to Threats FCTA Arrests 47 Roadside POS Agents North-east American University of Nigeria strategic, people-centric approaches threats and vulnerabilities by Daji Sani inYola Olawale Ajimotokan in Abuja

The Federal Capital Territory Administration (FCTA) has arrested 47 Point of Sale (POS) agents for rending their service on the streets and in unapproved places within the city. The Senior Special Assistant to the FCT Minister on Monitoring, Inspection and Enforcement, Ikharo Attah, said the violators would be arraigned before the Mobile Court for allegedly infringing on some environmental laws and for operating their businesses in unapproved places. The FCTA recently stated that because of security concern, it would no longer condone indiscriminate activities of POS operators on the streets and noncommercial areas of the Federal Capital City. It said intelligence indicated that strange people were roaming about some neighbourhoods, while disguised as POS operators.

Attah, who addressed the violators at the premises of the Abuja Environmental Protection Board (AEPB), said although the FCT Minister had no intention to stop POS business, he was concerned about the security implication of allowing them to operate outside commercial zones and indiscriminately in the streets. Also, the Assistant Director, Enforcement at AEPB, Kaka Bello, noted that environmental laws forbid business activities at residential areas and on the streets. He said AEPB enforcement team was prepared to give effect to the restrictions on the POS operations. One of the arrested violators, Solomon Wari, a civil servant, said he was arrested while he was in the front of his business centre within a residential area in Wuse Zone 6, adding that he was in the business to support his family.

The North-east Connection programme, a solution-based initiative of Creative Associates International, which was funded by the USAID, has developed local capacity to respond to emerging threats to vulnerable communities in the North-east. The closeout ceremony of North-east connection over the weekend observed at the

in Yola, Adamawa State, had in attendance representatives of CSO/ CBO organisations operating in the North-east area, traditional leaders, government functionaries, programme staff, and the funding agency, USAID, who joined in remotely. While giving the project overview, NE Connection’s Chief of Party, Mr. Albert Pam, said the programme used a range of

and activities to address and prevent social conflicts in some of the most vulnerable communities in North-east Nigeria. Pam said that at its core, the programme aim is to strengthen community resilience to violent extremist infiltration and conflict in the BAY states (Borno, Adamawa, and Yobe States) in North-east Nigeria, as well as develop local capacities to respond to emerging

targeting communities not yet under the control of violent extremist organisations. Furthermore, the Chief of Party, along with the MEL Manager (Monitoring, Evaluation, and Learning), Mr. Christian Adanu, used the opportunity to give a more detailed insight into the activities of the organisation and programme in the two years of programme implementation.

Coalition of Parties Explain Adoption of Atiku/Okowa Presidential Ticket Omon-Julius OnabuinAsaba The Coalition of United Political Parties (CUPP), comprising members of the group in the 11 states of the Southeast and South-south geopolitical zones, has adopted the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, arguing that the Atiku-Okowa presidential ticket is the best choice, “particularly at this time of numerous economic

and social challenges in the country.” Addressing journalist in Asaba, Delta State at the weekend, the group said: “In the face of increasing insecurity, poor health and education as well as suffocating unemployment in Nigeria, CUPP could not but lend it’s voice to the call to rescue, re-set and restructure the country,” urging presidential candidates of other political parties to join hands with well-meaning Nigerians to vote for Atiku and his

running mate, Governor Ifeanyi Okowa of Delta State. The CUPP said the PDP standard bearer has shown enough commitment and made visible sacrifices for the survival and development of democracy in the country, and he has offered practical solutions to Nigerian problems in many ways like employing more than 50,000 Nigerians across the country in addressing the unemployment

situation. Spokesman of the group, Prince Henry Eze, flanked by other officers of the CUPP from the two zones gave many reasons for the decision, which was taken at a meeting of the coalition held in Asaba to deliberate on the excruciating living conditions in the country under President Muhammadu Buhari and the All Progressives Congress (APC) vis-a-vis the way forward for a united Nigeria.

MONDAY JANUARY 30, 2023˾ T H I S D AY

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CONGRATULATIONS ON YOUR GRADUATION…

NDLEA Busts Trans-border Cartel, Arrests Five Kingpins Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested five kingpins of trans-border drug cartel. The spokesman of the antinarcotics agency, Femi Babafemi in a statement yesterday said the men of the agency have successfully dismantled a

trans-border drug cartel and arrested five leaders of the syndicates operating in parts of the world in a special operation that lasted weeks during which different quantities of skunk, methamphetamine and ephedrine as well as air compressors used to conceal and distribute them globally were recovered. He disclosed that the special operation came on the heels of

A’Ibom PDP Guber Candidate Pledges to Tackle Poverty, Ensure Agric Revolution Okon Bassey in Uyo The governorship candidate of the Peoples Democratic Party, (PDP), Akwa Ibom State, Mr. Umo Eno has promised professionals in the state of economic policies that would ensure poverty reduction and agricultural revolution if elected as governor. The governorship hopeful stated this at the weekend, at a special town hall meeting held by a support group, Connect Initiative, for Eno to interface with stakeholders across professional groups in the state. Eno stressed that his programme was committed to bridging existing gap between the poor and the rich and members of socio-cultural organisations in the state. “I understand the language of the ordinary citizen. Poverty reduction is my foremost economic blueprint and I will do everything within my

powers to take some steps to help bridge the gap between the poor and the rich,” he pledged. He listed his economic agenda to include job creation, price stability, sustainable economic growth, improved standard of living, environmental sustainability, highly educated youths, healthy and skilled populace, safety and security. “The rate of unemployment is growing; we need to do so much to ensure that our youths have work to do. We want to ensure they have a skill sets that would help them do the jobs available, we need to improve our standard of living by giving people the basic necessities of life,” he added. Eno noted efforts to transform the state by successive governments, saying he would consolidate on such economic gains to expand frontiers of the state economy.

a warning by the Chairman/ Chief Executive of the agency, Brig. Gen. Buba Marwa (rtd) that drug barons and cartels will have it rough in 2023 if they fail to back out of the criminal business. He said the arrested leaders of the cartels have spreads across Dubai, UAE; Cotonou, Benin

Republic; Togo; Oman, Thailand and Europe as well as Lagos, Imo and Onitsha in Anambra state, and why during the last Christmas and New Year holidays running the cartels from their villages in Nigeria and coordinating efforts to send their illicit consignments to

Dubai and other parts of the world. According to him, their lid was blown open on December 29, 2022 when their freight agent, Onyeisue Chukwudi was arrested by NDLEA officers at the SAHCO export shed of the Murtala Muhammed

International Airport, Lagos for attempting to export three big automobile air compressors to Dubai. He said a quick follow-up operation led to the recovery of additional five compressors at his home at 24 Legacy road, Ayobo area of Lagos.

11 Passengers Burnt to Death in Ondo Road Accident

Fidelis David in Akure

No fewer than 11 persons were burnt to death yesterday in a road accident at Soka Bridge in Ore, the headquarters of Odigbo Local Government Area of Ondo State. THISDAY gathered that the victims whose identities could not be ascertained as of the time of filing this report died in the crash, which involved a trailer and a Marcopollo bus. The Federal Road Safety Corps,

Unit Commander in Ore, Mr. Sikiru Alonge, said that the accident was caused by one way driving by the trailer. He said: “The trailer passed through one way and in the process collided with the Marcopollo bus which is coming Benin road.The bus caught fire in the process. He said the incident caused traffic congestion along the route and all the eleven persons were burnt beyond recognition. “The fire has been extinguished,

while the traffic is being controlled on the Benin/Lagos Lane. Efforts are on top gear with other security agencies to remove crashed vehicles from the road,” Alonge said. He, however, urged motorists to always obey all traffic rules to avert further tragedy. In another developmnt, the operatives of the Ondo State Security Network Agency, codenamed Amotekun, have arrested 80 suspected criminals

in the last three weeks. Out of these suspects arrested, thirty- six of them were paraded before journalists last weekend, at the headquarters of the corps in Akure. Parading the suspects, the State Commander of Amotekun Corps, Mr. Adetunji Adeleye, said among the suspects were four persons who allegedly invaded the farm of a Peoples’ Democratic Party Chieftain and destroyed cassava plantation worth N10 million.

Lassa Fever: 26 Adults, 14 Children Still on Admission in Edo

The Edo State Commissioner for Health, Prof. Akoria Obehi, has said 40 persons, including 26 adults and 14 children who were confirmed with the Lassa fever disease are still on admission at the Irrua Specialist Teaching Hospital (ISTH). Prof. Akoria who disclosed this to journalists in Benin City said the patients are currently receiving medical care and are responding

to treatment. She said the state has now recorded a total of 115 confirmed cases and 13 deaths from the disease, adding that the confirmed cases are spread across 11 local government councils in the state. The Commissioner noted that the government is stepping up efforts to contain the disease across all Edo communities, urging residents

to complement the government’s efforts by complying with all laid down protocols against the spread of the disease. She further charged them to reach out to the disease surveillance or notification officers within their local government areas if they have been in contact with someone confirmed to have Lassa fever or suspect any symptoms of Lassa

fever or any other priority disease. The disease surveillance or notification officers’ contacts include: Akoko Edo 07034420077; Egor 08078750376; Esan Central 09074513116; Esan North East 08034897353; Esan South East 07035389297; Esan West 07016618702; Etsako Central 07035411607 and Etsako East 09026339245.

Why Nigeria Must Adopt Asian Tigers’Template in Varsities Lagos Market Declares Support Bamidele: funding was being limited to Administration by the Joseph Ayo Bamidele advocated holistic Gbenga SodeindeinAdoEkiti public universities, insisting that Babalola University (JABU), in reworking country’s for Tinubu, Sanwo-Olu Senator Opeyemi Bamidele has intervention of this fashion should recognition of his exemplary and curriculum offromtheprimary to Rebecca Ejifoma

Onigbongbo market in Lagos state promised to throw its weight behind the All Progressive Congress (APC) flag bearer, Bola Tinubu and the state Governor, Babajide Sanwo-Olu in the coming election. The Head of Onigbongbo Market in Maryland Lagos, Rasak Akerele noted this during the flag-off of the market storm initiative of APC Lagos State House of Assembly Aspirants (LAHAA) to deliver three million votes for Tinubu and Sanwo-Olu at the weekend. He commended the two candidates while wishing them well. “I pray for the success of Tinubu and Sanwo-Olu in the coming election. They have significantly contributed towards the development of Lagos State and Nigeria as a whole.”

Akerele also pledged that the entire Onigbongbo market people would vote for the APC candidates massively to appreciate the good work they are doing. “We are solidly behind Tinubu and Sanwo-Olu. We are going to express our profound love at the polling booth when the time comes,” he noted. Members of the directorate flooded the Onigbogbo market in the Ikeja Local Government Areas (LGAs) to campaign for the candidates. The central Coordinator of the directorate, Adeyinka Odukoya said that the idea was to capture about 3m votes for both Tinubu and Sanwo-Olu in the next election. He also outlined their plans to visit major markets in all the 20 LGAs of the state. “We have promised to galvanise three million votes for Tinubu and Sanwo-Olu in the 2023 election.

urged the federal government to extend funding to private universities running entrepreneurial studies across the nation to make their graduates financially self- reliant. The Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, vehemently disagreed with the current template, whereby such

cover both public and private ivory towers offering Entrepreneurial Studies as a course. The senator described this as a potent remedial action that can tame joblessness and poverty in the country.Bamidele, the Chairman, Southern Senators’ Forum, said this at Ikeji Arakeji, Osun State, at the weekend, while being decorated with the honourary Doctor of Public

enigmatic services to the nation. The federal lawmaker added that the priority placed on entrepreneurship by JABU, underscored its unshaken commitment to abate the cankerworms of unemployment and poverty that are ravaging the country and having resonating effects like kidnappings, killings and internet fraud.

tertiary cadres to inject skills and entrepreneurship that will promote productivity and revitalise the ailing economy. He added that the awardees are proud to associate with JABU’s outstanding and unique status as one of the fastest growing faith-based universities in Nigeria, coupled with its leading role in entrepreneurship training.

PDP to INEC: Let IPAC Verify Custody of BIVAS in C’River Bassey Inyang in Calabar The Cross River State Chapter of Peoples Democratic Party (PDP), has asked the Independent National Electoral Commission (INEC) to reassure the public that some of its BIVAS machines meant for the conduct of the 2023 elections were not taken to government house in Calabar. The Cross River State Governorship Candidate of the PDP, Professor Sandy

Onor, made the call in Calabar against a backdrops of complaints by the Inter-Political Parties Advisory Council (IPAC), that the INEC kept them at bay when the electoral body and security agencies allegedly verified the integrity and custody of the BIVAS machines sent to the state for the conduct of the 2023 polls. Addressing journalists in Calabar at the weekend, Onor said that the party was worried by such allegations

because the entire processes leading to the elections and the main elections can be compromised if some of the BIVAS machines were kept in Government House. He demanded that INEC should allow the IPAC to inspect the BIVAS machines in order to clear fears that some of the electronic devises were, at the moment, not in the custody of the All Progressives Congress (APC), led state government.

He said: “We all are aware of reports indicating that the state government has some BIVAS machines in its possession. The INEC has denied any connivance as its machines have not left their place of custody. “Our worry is that in a recent press release, the IPAC had maintained that it was not carried along when INEC and the security forces in the state moved in to confirm that no BIVAS machine was tempered with.

MONAY, JANUARY • TEH D AY T H I S DAY, T H E S30, U N2023 DAY N WI S PA P E R • DECEMBER 18, 2022

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SUNDAY SPORTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

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FA CUP: Brighton Knock out Cup Holders Liverpool Kaoru Mitoma scored in stoppage time as Brighton knocked holders Liverpool out of the FA Cup with an impressive victory at the Amex. With the game heading to a draw, Japan winger Mitoma produced a great piece of control before firing in from close range to stun the Reds. Jurgen Klopp’s side, who were beaten 3-0 at the Seagullstwo weeks ago, took the lead midway through the first half when Harvey Elliott slotted into the bottom corner from Mohamed Salah’s pass following a quick break. However, Brighton equalised when Tariq Lamptey’s shot from distance deflected heavily off Lewis Dunk to fly into the back of the net. It looked like a replay at Anfield would be needed to decide the tie before Mitoma stepped up to snatch another

big result for Brighton. It is testament to the impressive work done by Seagulls boss Roberto de Zerbi since his appointment that you couldn’t say with a degree of certainty which side was the favourite heading into this match. Liverpool won the FA Cup last season but have endured a difficult campaign and went into this game as the side lower in the Premier League table - they are ninth while Brighton are sixth. The hosts impressively outplayed the Reds on 14 January and clearly fancied their chances of another victory against them as they showed belief and confidence in this game. Great defending by Dunk prevented what looked to be a certain goal for Salah early on, while Evan Ferguson then had a shot cleared off the line by Trent Alexander-Arnold.

Epe Wins Meristem Open as Akakasiaka Canvases Support for Tour Francis Epe of Ikoyi Club 1938, fended off a stiff challenge from Ghana’s Vincent Torgah to win the Meristem Open on Saturday, January 28, 2023, with nine under par after 54 holes of play at the Lakowe Lakes Golf and Country Estate in Lagos. Epe, a former Nigeria Professional Golfers Association number one ranked player now tops the Professional Golfers’ Developmental Tour ranking that was launched with the event. “I am really happy,” he said after his win, which he achieved by shooting 69 (-3), 70 (-2), and 68 (-4) on each of the three rounds that were decided. “I had come here in late December 2022 and spent some days playing this course in readiness for this event. Many thanks to those who supported me in making that happen. So when this event started, and the pressure mounted, especially in the last round, I knew I had to resort to some basic strategies I had planned. Be on the Fairways and hit the green in regulation,” he noted. Epe was three shots clear of the field of 87 players that competed for the N10 million naira prize purse in the inaugural event of the Professional Golfers’ Development Tour that is being promoted by Meristem Securities. Wole Abegunde, the Group Managing Director of Meristem Securities said it was a privilege for him and his team to lead this

resurgence of interest in professional golf and he believes the result will yield a good result for the many talented Nigerian youths that have chosen sports, especially golf to express themselves. “We could produce top professional golfers who should have been on the US PGA Tour, or even the European Tour and other top players. We have done that in football, our local tents are finding expressions in top leagues across the world. And we are not less endowed in football, so, more than any other thing, that is what we have come to support professional golfers to achieve with the promotion of the PGD Tour platform,” observed Abegunde on the need for more corporates to come into the sport. Ghana’s Vincent Torgah, who was a joint leader in the first two rounds of the event was blown apart with Epe’s composure in the closing round leaving him with 69 (-3), 70 (-2), and 71 (-1) a total of 201, six under par for the three days. Long-hitter, Sunday Olapade settled for third place with 212, four under par total from the event. Peter Akakasiaka, Nigeria’s most celebrated professional golfer was also at the launch of the Professional Golfers’ developmental Tour, where he canvassed for support for the Tour, saying Nigeria now have better players than during his generation believes they (golfers) will bring honour to the country if supported.

Leighton Kings Win Dapo Ojora Cup at 2023 Lagos Polo The first major winners of the ongoing 2023 GTCO Lagos International Polo Tournament have emerged as Lagos Leighton Kings overwhelmed Wiltten Aviation side of port Port Harcourt to clinch the glittering Adedapo Ojora Memorial Cup.. The Bowale Jolaoso-led side started with a spark, dominating the five chukkas game from first chukka and began to sdown the Aviation flyers 12-41/2 to celebrate their first ever Dapo Ojora Cup in grand style. Port Harcourt-based Wiltten Aviation got the opening goal of the Stream 2 Open Cup clash by Fernando Lloriente but the Kings responded with Facundo Ratamar, who spearheaded a commanding performance by scoring his side’s first goal goal to keep the game on the knife edge courtesy of a half-goal handicap to the visitors.

Victor Osimhen scored his 14th goal of the season as Napoli defeated Roma 2-1 to go 13 points clear at the top of Italian Serie A

Facundo, who starred alongside his sibling Nico, soon imposed himself on the match to give the Lagos side a 2-1 1/2goal lead. Moments later, two quickfire goals by him took the score to 4-1 1/2while Ratamar walked his way to easyay! The finish just before the hooter sounds to widen their lead 5 1 1/2 heading to the second chukka. Englishman Peter Webb fluffed his 60 yards penalty, missing the chance to close the gap but the Kings’ patron, Bowale Jolaosho got on the scorers sheet as he tapped in from close range to close the chukka 6 1 1/2 but Llorente responded for a four-and-half goal deficit. Jolaosho, who had Muyiwa Oni as the other Nigerian in the Kings’ side, got another goal just as the third chukka started to coast closer to victory for the Kings.

Serie A: Osimhen Extends Napoli’s Lead to 13 Points Duro Ikhazuagbe

igerian international, Victor Osimhen, continued from where he stopped last week, firing his 14th goal of the season as Napoli defeated Jose Mourinho’s Roma 2-1 to go 13 points clear at the top of the Italian Serie A. The Super Eagles forward gave the hosts the edge inside the Diego Armando Maradona Stadium in Naples when he smashed the

deadlock in the 17th minute with what can pass for a world-class goal. Osimhen received a cross from the left with his chest. He controlled it with his thigh before unleashing a thunderous volleying into the roof of the Roma net for his fifth consecutive goal in all competitions in the last five matches. It was a beautiful goal that set the Napoli fans on fire. It was also Osimhen’s 14th goal in the Italian Serie A as Napoli went 13 points clear at the top of the standings to further bring

the Scudetto closer home. He was also the match winner when both clubs clashed in the reverse tie in Rome. His 14-goal tally halfway through the campaign has thus matched his overall record of last season. Substitute for Roma, Stephan El Shaarawy, however rekindled hope for Mourinho’s men when he equalised with just 15 minutes left. He slotted in a dangerous cross. But Giovanni Simeone, son

of Atletico Madrid coach Diego Simeone, scored the winner on 86 minutes, collecting a pass inside the box before slotting into the top corner. Second-placed Inter Milan are on 40 points. Napoli are gunning for a third Scudetto 33 years after their last triumph. Elsewhere, Sassuolo went to the San Siro Stadium to hand AC Milan a 5-2 defeat that has killed the title ambition of the Milan club.

NPFL: Enyimba Return to Winning Ways as Shooting, Sunshine Win Former NPFL champions Enyimba got back to winning ways yesterday after a 3-0 home win over Kwara United at the Enyimba International Stadium Aba. The People’s Elephant had a fast start scoring twice in the first 20 minutes. Chukwuemeka Obioma opened scoring in the 11th minute while Ademola Adebambo doubled the lead for the NPFL record winners. Obioma got his brace scoring in the 68th minute for a win that took Enyimba to third on the table in Group A. Despite the big win for Enyimba, Bendel Insurance who produced a stunning result after turning back group top spot rivals, Remo Stars 3-0 earlier in Benin City on Saturday evening are leading the

log on maximum 12 points from four matches. The Benin Arsenal remain the only side that have a 100 percent record so far in the abridged NPFL format. Elsewhere, Cup holders, Rivers United overpowered Dakkada 1-2 in Uyo. Akwa United made it two wins in a row after edging Plateau United 1-0 at the Godswill Akpabio International Stadium in Uyo. The crucial goal was scored in the 79th minute by James Ajako to take the Promise Keepers to 4th on the Group A table, level with Enyimba on seven points but behind on goal difference. El Kanemi Warriors lost 1-0 away to Shooting Stars at Ibadan for Coach Gbenga Ogunbote’s first win. After a keenly contested goalless

1st half, the deadlock was broken in the 79th minute when Tiza Samuel nodded in the winner. The win takes Shooting to 5th place on five points, three points off the playoff zone. In Gombe, Nasarawa United came close to picking up its first three points of the season but for a stoppage time equalisers to 10-man Gombe United. The match ended 1-1. The Lafia side took the lead after 21 minutes through striker Chinedu Ohanachom but Taye Yussuf scored a stoppage time penalty to clinch a point for Gombe United. In Group B, Lobi Stars made it three wins in a row after brushing aside Bayelsa United 3-0 at the Aper Aku Stadium, Makurdi. A second half brace from

Sportsville Award Excites Diri, Betsy Obaseki Bayelsa State Governor, Senator Douye Diri and the First Lady of Edo State, Mrs Betsy Obaseki, have expressed joy over the Sportsville Award to be bestowed on them on Saturday, February 4th, in Lagos. The duo are among other 14 personalities pencilled down for the annual awards which enters its third year. Gov Diri who spoke through his Chief Press Secretary, Dan Alabrah, said he is excited over the award declaring that “it shows the world is keeping a tab on the rising profile of sports development in Bayelsa State.

“His Excellency Gov Diri is happy with the recognition that is coming from Sportsville, an organisation known for its high reputation nationwide and beyond. “”It also shows the world is seeing the great attention His Excellency, Sen Gov Douyle is paying to sports development in the State, both in terms of facility and human capacity development,” Alabrah added. On her part, Edo State First Lady, Mrs Betsy Obaseki described the honour as heartwarming, assuring the organisers that she would personally be in Lagos to pick up the award.

“Sportsville award is a credible award. I am personally going to be in Lagos to receive it. I thank the organisers for recognizing my modest efforts of using sports to uplift the girl child.” Over 16 personalities and corporate concerns will be recognised during the award ceremony billed for the Lagos Country Club, Ikeja on February 4. The Hon Sports Minster, Chief Sunday Dare, and the Deputy Governor of Edo State, Rt Hon Philip Shaibu, are the Chairman and Special Guest of Honour respectively.

Kumaga Sur (67’,77’) put the Stars fully in control in the second half before Umar Abba scored the third. Lobi Stars are second on the table with nine points, one behind leaders Rivers United who on Saturday picked up a 2-1 away win against Dakkada at Uyo. Sunshine Stars are another side to pick a first win of the season after a hard-fought 1-0 win against Abia Warriors. A 1st half-stoppage time goal from Olasupo handed all three points to Sunshine who are now up to fifth on the table. Wikki Tourists are still bottom of the table after playing out a goalless draw with Doma while Enugu Rangers are still searching for its 1st win of the season following a goalless draw.

MATCH DAY 23 Group A Akwa Utd 1-0 Plateau Enyimba 3-0 Kwara Utd Gombe 1-1 Nasarawa 3SC 1-0 El Kanemi Bendel 3-0 Remo Group B Lobi 3-0 Bayelsa Dakkada 1-2 Rivers Sunshine 1-0 A”Warriors Wikki 0-0 Doma Tornadoes 0-0 Rangers Wikki 0--0 Doma

Monday, January 30, 2023

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MISSILE Osuntokun to Other Parties

“My own prognosis is that our candidate will win without the need for a run-off, and in the event we do not, we are prepared for the option of a run-off. So either way, we stand strong. My position is that if we have a free and fair election in Lagos, the Labour Party will win. The reasons aren’t very difficult to ascertain. My peers and the younger generation are united in their support for Obi. All of my peers and their children are Obidients...in free and fair elections, the Labour Party will win ” –D-G Labour Party PCC, Akin Osuntokun, says opponents jittery over Peter Obi’s rising influence in the upcoming polls.

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MAHMUDJEGA VIEW FROM THE GALLERY

Wanted: A Walter Hickel in FEC

hinking about some of the problems of the moment reminded me of an old American political character that I think our leaders need at this moment and in the future. There was this slim 1973 book called Watergate, written by Lewis Chester and three coauthors. There was this chapter in it about The Retribution List, the infamous “enemies list” drawn up by the Nixon White House in 1972. In that chapter there was the following passage. “Before the mantle of sanctimony settled on the Nixon administration, Secretary of the Interior Walter Hickel could be trusted to liven up proceedings. Back in 1938 he won the welterweight division of the Kansas Golden Gloves boxing championships, before going on to strong-arm his way to a fortune in the construction business and to political prominence as Governor of Alaska. Both as a businessman and politician he was a throwback to a more rugged, pre-Organisation Man era. Loud mouthed and shrewd, if he believed in something he made sure everyone knew it. In conference he would pound the table, laugh raucously and lace his points with lurid profanities. Generally he was not very demure. Washington did not change him.” Who is there in the Federal Executive Council today, a pre-Organisation Man person, a former boxing champion, a wealthy businessman from a very tough sector like construction, who was Governor of an ice-covered [in our own case, sand or mangrove forest covered] state, who would pound the table at FEC meetings, laugh raucously, made sure that everyone knew what he believed in and laced his points with lurid profanities? The trending joke in Nigeria since last week is, “Which of the queues are you going to join today? Is it the queue at the fuel station, the queue to collect your PVC, the queue to deposit your old notes at the bank, or the queue to withdraw new notes at the ATM?” Beginning with the most pressing issue, which is extending the deadline for the currency exchange. Although most economists and development planners spoke in support of CBN’s aims of moving Nigeria to a cashless [or at least, to a reduced-cash] society, there is serious contention about the timing. I said “cash reduced” because some years ago, Time magazine interviewed the Chairman of the US Federal Reserve Bank, the American Emefiele. The daring reporter suddenly asked the Fed Chairman what was in his wallet. If it is in Nigeria, he would probably insult the reporter and throw him out, but the top American banker responded to the question by emptying his wallet on the table. It contained his driving license, credit cards, some business cards, a social security card and $84 in cash. So, even the world’s Number One banker carries around some cash; who are we to go cashless at this time? CBN announced yesterday, in the middle

Hickel

of the weekend, that it has extended by ten days the legal tender status of the old notes. That was relief, but hardly a big one. Are ten days enough to end the chaos that we are seeing in the rural and many urban areas, will new notes be readily available to cover customers’ needs and, very pressing indeed, will traders resume accepting the old notes in the extended ten days, or will they still say they will not accept them out of fear that they may have difficulty depositing them in the bank? Yet another question: will CBN extend the deadline after those ten days when the prevailing conditions of chaos persist, just like NIN deadline was extended again and again until everyone lost count? If there is a Walter Hickel in FEC, he would probably pound the table at a review meeting and say, “Damn it, Mr. President! Tell CBN to extend that deadline by six months! We need them damn cash and the f--- banks don’t have enough of them, as is evident from the [expletive] queues at ATMs!” Another minister is likely to say, “Shut up, Walter! A six months extension will defeat the currency change purpose.” To which Hickel is likely to say, “Billions of blue blistering barnacles! Millions of people don’t have bank accounts and the damn banks insist you can only deposit old notes in your bank account! Which bank accounts, when 23 out of 27 Local Governments in Borno and 11 out of 16 Local Governments in Yobe don’t have a trifling bank branch?” Not only the currency change. The long fuel queues also need a Walter Hickel to say something at the FEC meeting, preferably a live one, because the IT guys could shut him up in a virtual meeting and attribute it to network glitch. Hickel would say, “Those damn queues Mr. President! Seven years ago, you made the strategic mistake of appointing

yourself as Minister of Petroleum! If you had appointed someone else, you could have blamed him now for the queues and fired him! Nigerians will applaud because they love to see spilling of political blood. That is why the newspapers predict a cabinet reshuffle every May 29 but none ever came under your leadership!” Early last week, the President appointed a committee headed by himself to tackle the lingering scarcity of fuel at pump stations. It is made up of the top NNPNL and NMDPRA bosses as well as security chiefs. Again, a Walter Hickel in FEC will say, “Damn it, Mr. President, bloody Nigerians will say you are dodging the issue! The permanent solution to fuel scarcity is to end the regime of subsidy. You postponed the decision until after the election so that APC candidates will not come crashing down. Now they are accusing you of instigating currency change and withdrawal limits in order to sabotage APC candidates. Damn it, if you really want to sabotage APC, just remove fuel subsidy. That’s all!” That still leaves the question of the committee unanswered. If you force Walter Hickel to return to that question after the digression, he might say, “[Expletive]! Why should President himself chair a committee apart from FEC, if it is not an ECOWAS, AU or UN committee? Every goddamn officer in this Federal Government is at his beck and call! Just call the f--- security chiefs and tell them to go arrest any marketer who hoards fuel, if it is true that NNPCL has enough of it in stock! But damn the marketers, they have a point too. They have to move the damn product up and down the country in trucks, and cost of diesel is now N950 in most places. The N13 margin they are given per litre will not cover their costs. Either NNPCL slashes further its own take

of N113 per litre and greatly increase the subsidy, or it allows the marketers to jerk up their pump prices by N15 or more while NMDPRA looks the other way! But don’t announce it; bloody NLC will jump at it and call a demonstration and say you increased petrol prices!” A report is tendered at FEC that a bomb was dropped at Rukubi community in Nasarawa State on alleged terrorists, who turned out to be pastoralist leaders unloading their ransomed cattle from trucks for onward journey in the Nasarawa bushes. Vice President Yemi Osinbajo has even been to the scene to see for himself and offer condolences. When the National Security Adviser finishes tendering his report and the Defence Minister tenders his [lame] assurance that a probe is on-going, Walter Hickel is likely to say, “You mean your goddamn pilots did not see from the air that cattle were being unloaded from trucks? Which cattle rustler or kidnapper ever used trucks to transport his cattle? The way your guys are going, they will one day drop bombs at Mile 12 cattle market!” Warplanes and drones are guided to their targets; they don’t often get to choose the targets themselves. There was a hint in the early security reports of the Nasarawa incident that some control room guide, either deliberately or negligently, guided the attack craft to the wrong target. At that revelation Hickel is likely to pound the table and say, “Goddamn it! Fish the [expletive] out! Kick his [expletive] until you find out whether he did it deliberately or ignorantly! Either way, kick him out pronto from that control center before he does it again!” There is also a report before FEC of the Edo train station attack and weekend’s Kubwa train derailment. Coming hot on the heels of last year’s terrorist attack and kidnap of train passengers in Kaduna, rail travel is beginning to acquire notoriety in Nigeria. Pray Walter Hickel is not there when the report is tabled. He is likely to say, “What’s the matter with this f--- trains? You sit in one, they kidnap you! You are waiting for one at a train station, they kidnap you! Some Nigerians even commit suicide by sitting in a car on the rail, for a train to crush them! You are sitting pretty in one train; it derails and you have to walk the rest of the way! Get to the [expletive] root of all this!” The best news last week was that all the abducted Edo train passengers were rescued and many of the kidnappers have been arrested. Let us wish that all the other stories end this well. Walter Hickel’s story did not however end well. At one point US President Richard Nixon, who had the instincts of a Nigerian politician, called in Hickel, told him he is an “adversary” within his government, and fired him. A year later Walter Hickel’s name turned up in the exposed “Enemies List” drawn up by the Nixon White House.

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