FRIDAY 2ND FEBRUARY 2024

$2.4bn Oil Assets Sale: Shell Says Role of SPDC JV in Remediation of N’Delta Environment Unchanged Despite 30% drop in earnings, IOC posts $28bn 2023 profit Records $1.2bn pre-tax impairments on reduction of operations in Nigeria, others Emmanuel Addeh in Abuja Oil giant, Shell, has said the

responsibility for remediating the environmental impacts from its operations as well as historical

spills that had not been cleaned up when its $2.4 billion onshore oil assets transaction is completed will

be taken over by its Joint Venture (JV) partners.

In a document detailing

Frequently Asked Questions (FAQs) relating to the deal released on its international website, the British

multinational stressed that the roles Continued on page 5

In Throwback Interview, Buhari Explains Why He Didn’t Float Naira Despite IMF Pressure... Page 5 Friday, February 2, 2024 Vol 29. No 10523. Price: N400

www.thisdaylive.com TR

UT H

& RE A S O

N

Decentralising Security is Solution to Nation’s Insecurity, PDP Govs Maintain... Page 16

Despite Clarification, Atiku Insists Letting CBN Take over Oil Sale Receipts Violates NNPCL’s Legal Status Chuks Okocha in Abuja Despite clarification from sources with knowledge of the development,

former Vice President Atiku Abubakar has faulted the decision to put the Central Bank of Nigeria (CBN) in charge of proceeds from the sale of the

country’s crude oil by the Nigerian National Petroleum Company Limited (NNPCL).

Atiku described the purported

presidential directive as a violation of the legal status of the national oil company.

But sources in the know of the

goings-on had earlier explained that contrary to reports, the NNPCL actually offered to move some of its accounts to the apex bank to support

the liquidity management objective of the CBN. Continued on page 5

Dollar Falls in Parallel Market to N1350/$, Official Rate at NAFEX Window Holds at N1,461 Naira appreciates on back of CBN’s reforms in parallel market, declines on official window Banks move to ensure swift repatriation of export proceeds into domiciliary accounts Story on Apex bank issues revised guidelines on IMTOs, sets $1m minimum share capital page 5

PDP GOVERNORS VISIT PLATEAU OVER RECENT KILLINGS...

L-R: Governor of Osun State, Sen. Ademola Adeleke; Governor of Oyo State, Mr. Seyi Makinde; Governor of Adamawa State, Ahmadu Fintiri; Governor of Plateau State, Barr. Caleb Muftwang; Governor of Bauchi State, Sen. Bala Mohammed; Governor of Enugu State, Dr. Peter Mbah; and Governor of Edo State, Mr. Godwin Obaseki, at the Government House, Jos, during a commiseration visit by Peoples Democratic Party (PDP) Governors to Governor Muftwang over the recent killings in parts of Plateau State...yesterday

Sanwo-Olu Procures Additional Rolling Stock for Blue, Red Lines from China... Page 17

2

FRIDAY FEBRUARY 2, 2024 •T H I S D AY

FRIDAY FEBRUARY 2, 2024 • T H I S D AY

3

4

FRIDAY FEBRUARY 2, 2024 •T H I S D AY

5

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

PAGE FIVE

In Throwback Interview, Buhari Explains Why He Didn’t Float Naira Despite IMF Pressure

“I have explained that countries that play around with their currencies are countries that have enormous production capacity. They have factories in place ...Nigeria virtually imports everything, from rice to toothpick ...what is the value of further devaluing the Naira"

Emmanuel Addeh in Abuja As the crisis in the foreign exchange market in Nigeria continues, a 2016 interview by former President Muhammadu Buhari, has shown him explaining to Aljazeera why he declined to implement a free-float of the Naira despite international pressure.

The ex-Nigerian leader who was asked why in spite of a “chorus of voices” calling on him to devalue the naira to allow market forces to

prevail, he refused to, said he wasn’t willing to reconsider his position because of the huge negative impact it would have on the country.

As a largely import-dependent nation, Buhari explained that floating the very fragile naira against other currencies will do the country no good.

The Nigerian currency has been under immense pressure since President Bola Tinubu took the decision to collapse the FX market into one and enforce a free-floating

regime. It has since then traded for as much as N1,400 to a dollar in recent times.

“I have explained that countries that play around with their currencies are countries that have enormous production capacity. They have factories in place. Their infrastructure in terms of power, communications and security are virtually perfect.

“Nigeria virtually imports everything, from rice to toothpick.

Now, if we don't have the money to import those things, what is

the value of further devaluing the Naira?,” he asked.

On whether, he wasn’t going against the advice of the International Monetary Fund (IMF) by failing to devalue the Naira, Buhari told his interviewer that it wasn’t a big deal to go against the IMF advice if it goes against the interest of Nigeria.

“Why not? If it’s against our national interest, why can’t we go against the IMF advice,” he queried.

On why he banned certain

imports, Buhari said that Nigeria wasn't viable enough economically to afford those items, stressing that the country was supporting in the area of pharmaceuticals and others.

“Yes, that's the theory of it.

Nigeria can only afford to live within its means. We don't have the money to back the naira, for people to buy the dollars and then import toothpick, chocolate rice and glamorous dresses...,” he noted.

He admitted, however, that the policy was prone to corruption,

Buhari but said he was ready to polic the system and ensure that sanctions were meted to anyone who committed any infractions.

Some Nigerians have accused Tinubu of caving in to foreign pressure in the early days of his administration to consolidate power and gain the validation of the West.

DOLLAR FALLS IN PARALLEL MARKET TO N1350/$, OFFICIAL RATE AT NAFEX WINDOW HOLDS AT N1,461 James Emejo in Abuja and Nume Ekeghe in Lagos The market reacted positively yesterday to the recent reforms by the Central Bank of Nigeria (CBN), with the Naira appreciating by 13.3 per cent on the parallel market to close at N1,350 to the Dollar compared to N1,530/$ on Wednesday.

The strategy, THISDAY learnt, is to encourage people to approach the official FX market to carry out their transactions, a move which could be working after all as the official rate appears now more attractive to do business with where it is at the moment.

However, despite the latest CBN interventions aimed at market correction, the local currency again surpassed the parallel market price to close at N1,461.90/$ at the official Nigerian Autonomous Foreign Exchange (NAFEX).

This represented a marginal decline of N6.31 compared to N1,455.59/$ recorded the previous day.

This came as Deposit Money Banks

(DMBs) have initiated steps to comply with the directive of the apex bank for swift repatriation of export proceeds into export domiciliary accounts.

The guidelines require that proceeds should be repatriated into an export proceeds domiciliary account maintained with the processing bank within 90 days of shipment with relevant fax or e-mail messages evidencing the receipt of the proceeds.

Also, yesterday, the central bank issued revised guidelines on International Money Transfer Services (IMTO) in Nigeria, setting $1 million as minimum share capital for prospective operators as well as a non-refundable application fee of N10 million which is subject to annual renewal in like sum.

Contributing to the anticipated enhancement of FX supply, the official window recorded an increase in daily turnover of $156.86 million yesterday from $134.07 million on Wednesday, indicating a 17.01 per cent increase. The highest spot rate recorded yesterday was N1,526/$1 while the lowest spot rate recorded was N891/$1.

However, under the new FX repatriation regime, banks are also required to certify the receipt of such proceeds to the central bank promptly.

However, in compliance with the directive, banks have sent out emails to their respective customers to provide relevant documents to facilitate timely transaction processing.

One of such correspondences seen

by THISDAY urged all exporters to provide accurate details of their Export Proceed Domiciliary Account as well as NXP details.

It demanded that "NXP numbers should be provided to the buyer except in the case of an advance payment.

"Details of the receiver's export domiciliary account should be accurately provided to the buyer for onward payment," the document added.

Also, on the buyer's requirement while effecting payment, the banks further requested that the "NXP number initially provided by the exporter must be quoted by the collecting bank at the point of payment.

"The exporter's domiciliary account

must also be quoted by the collecting bank at the point of payment," the banks stressed.

Under the Repatriation of Export Proceeds (oil and non-oil) circular issued by the apex bank, proceeds of oil and non-oil exports are to be repatriated into the export proceeds domiciliary accounts of their respective exporters' accounts within 90 days for oil exports and 180 days for non-oil exports.

Failing to do this, the collecting bank will be liable to a fine of 10 per cent of the FOB value of the transaction, including other appropriate penalties as provided in the BOFIA Act of 1991, as amended.

The CBN stated that where an exporter fails to repatriate the proceeds into the domiciliary account within the stipulated period, the exporter will be barred from participating in all the segments of the foreign exchange market in the country.

The central bank had insisted that shipping companies must ensure that the shipping documents carry the mandatory NXP number in compliance

$2.4BN OIL ASSETS SALE: SHELL SAYS ROLE OF SPDC JV IN REMEDIATION OF N’DELTA ENVIRONMENT UNCHANGED and responsibilities of the SPDC JV partners will remain unchanged.

Shell, which recently announced the deal with a consortium of five oil firms, stated that SPDC will continue to be accountable for its share of commitments within the JV to conduct any remediation, where spills might have occurred in the past from its operations.

By preserving the full range of SPDC's operating capabilities, Shell stated that it will continue to carry out its commitment within the JV, including those relating to health, safety, security and environment.

The company, which has operated in Nigeria for over 60 years, recently announced the planned sale of its onshore oil assets to a consortium of four Nigerian oil firms and one foreign business concern.

Many residents of the environmentally degraded Niger Delta region have recently raised concerns that the international oil company, which is now focusing on offshore oil operations, plans to abandon their polluted environments, partly caused by Shell.

On its role in the Hydrocarbon Pollution Remediation Project (HYREP) in Ogoni land, Shell stated that it would have fully funded its share of the financial commitments of the SPDC JV to HYPREP at completion of the transaction.

HYPREP was created by the federal government to address the recommendations made in the 2011 United Nations (UN) report.

On whether communities were consulted, Shell explained that the transaction was a share sale, whereby the ownership of SPDC changes but SPDC retains its operating capabilities, management frameworks and key expertise that it uses to operate on behalf of the JV. Shell stated, “Engagement with communities is and will remain an

integral part of SPDC’s day-to-day operations that it conducts on behalf of the JV. The frameworks under which those relationships are managed will be kept intact.”

It added that the communities will experience no change in their day-to-day dealings with SPDC as a result of the transaction.

Shell also said it will continue to carry out its mandatory funding by the SPDC JV of the Host Community Development Trusts established by SPDC in accordance with Nigeria’s Petroleum Industry Act (PIA).

Separately, Shell pledged to establish and fund a foundation outside the announced transaction that will be focused on business enterprise and start-ups, promising to share details in due course.

Meanwhile, Shell yesterday reported a 2023 profit of $28 billion, a 30 per cent drop from the previous year's record as energy prices and demand cooled, but still allowed the firm to increase its dividend by four per cent and extend its share repurchases.

Shell’s shareholder distributions reached around $23 billion in 2023, over 10 per cent of its market value, highlighting investors' focus on returns as the sector grapples with an uncertain outlook for fossil fuels.

Shell's 2023 profits were marked by lower chemicals and refining profit margins and slower fuel sales amid sluggish global economic activity following a blockbuster 2022 fuelled by a surge in energy prices after Russia's invasion of Ukraine.

It ended the year on a strong note, posting fourth-quarter adjusted earnings, its definition of net profit, of $7.3 billion, exceeding analysts' expectations of $6 billion profit but down from a record $9.8 billion a year earlier.

Strong liquefied natural gas (LNG) trading results in the quarter helped

offset weaker refining and oil trading results, Shell said.

"As we enter 2024 we are continuing to simplify our organisation with a focus on delivering more value with less emissions," Chief Executive Officer, Wael Sawan, noted.

The British company also announced the repurchase of a further $3.5 billion of its shares over the next three months, a similar rate to the previous three months.

But in a worrying sign for the firm, Shell's free cash flow, or excess money after investment, fell to $7 billion in the fourth quarter, the lowest in 2023 and less than half

the previous year's $15.5 billion, Reuters reported.

Shell took pre-tax impairment charges of $5.5 billion, with $2.5 billion due to reducing the value of its chemicals business in Singapore, $1.2 billion due to revisions of oil and gas operations in Nigeria, Britain and North America and $873 million due mostly to revisions of LNG production estimates in Australia.

Shell reduced annual costs by $1 billion over the past year, Chief Financial Officer Sinead Gorman said, while its capital expenditure reached $24.4 billion in 2023 and is expected to range from $22 billion to $25 billion this year.

with federal government directive amid allegations of FX infractions perpetrated through shipping lines which often violate existing regulations meant to entrench transparency in the use of forex.

Meanwhile, under the revised framework for international money transfer services in the country, the CBN disclosed that any person or institution that renders the service without the express approval of the bank does so illegally.

The central bank disclosed this in a circular dated January 31 which was signed by CBN Director, Trade and Exchange Department, Dr. Hassan Mahmud and addressed to all authorised dealers, IMTOs, and general public.

The CBN, on September 26, 2014, issued the guidelines for international money transfer services in Nigeria which provided a framework for the licensing and operations of International Money Transfer Operators (IMTOS) in the country.

However, the revised template was necessitated by recent reforms to liberalise the foreign exchange market and ensure transparency in foreign exchange market transactions as well as boost diaspora remittances and other foreign capital inflows into the country, and promote efficient price discovery mechanisms and the evolution of appropriate marketdetermined exchange rate.

The new framework was also designed to enhance the ease of doing business for IMTOs in Nigeria and money transfer recipients.

Essentially, the guidelines seek to guide IMTOs in conducting money remittances in compliance with the regulatory framework established by the CBN. The document encapsulates the requirements for obtaining approval from the CBN by promoters of IMTOS who intend to engage in the transmission of remittances to and

from Nigeria while upholding the regulatory supervision of the CBN. The document addresses critical aspects including organisational structure of an IMTO, principles of ownership and control, corporate governance standards, permissible and non-permissible activities.

The CBN also set the minimum share capital of $1 million for foreign IMTOs and the equivalent for indigenous IMTOS. The bank stated that “No person or institution shall operate International Money Transfer Services unless such a person/institution has been duly approved by the CBN. “Any financial product involving international money transfer by any institution or person that is not duly registered with the CBN is illegal,” the CBN noted.

Among other requirements, it said all IMTOs are further mandated to adopt policies stating their commitments to comply with Anti-Money Laundering (AML) Combating Financing of Terrorism (CFT) and Countering Proliferation Financing (CPF) of weapons of mass destruction obligations under subsisting laws, regulations, and regulatory directives and to actively prevent any transactions that otherwise facilitate criminal activities, Money Laundering, Terrorism Financing and Proliferation Financing (ML/TF/PF).

Under the regulation, all banks are prohibited from operating International Money Transfer services but can act as agents.

Also, financial technology companies (Fintechs) are not allowed to obtain approval for IMTO. However, the permissible activities of IMTOs shall include inbound international money transfer transactions only, the CBN further noted, adding that the transactions shall be limited to the acceptance of monies for the purpose of transmitting them to persons resident in Nigeria.

DESPITE CLARIFICATION, ATIKU INSISTS LETTING CBN TAKE OVER OIL SALE RECEIPTS VIOLATES NNPCL’S LEGAL STATUS They had explained that the move was necessitated by the decision of the management of NNPCL to assist the apex bank with the issues of boosting liquidity in naira and dollar components.

According to the persons, although the NNPCL was not under any obligation to domicile its accounts with the central bank, the account opening was made last Monday during a meeting held at the headquarters of the Ministry of Finance which was attended by officials of NNPCL, CBN, Office of Accountant General of the Federation and the finance ministry for the purpose.

However, a statement by Atiku’s media office said that without prejudice to the possibility of any good that was intended in the decision of the federal government to make the CBN take over the responsibility for crude oil sales proceeds from the NNPCL, the action is not legal in its application.

He maintained that the current administration has failed to

communicate to the public the details of the decision.

"According to what is publicly available, the president has issued a directive that henceforth, the NNPCL would submit receipts for crude oil sales to CBN for vetting and documentation.

"Whatever may be the merit of the new arrangement, the presidential directive is a violation of the legal status of the NNPCL. It is an arbitrary order capable of undermining the operational independence of the NNPCL,” he stated.

According to the vice president, by the purported order, government has wrested control of the finances of the NNPCL and donated the same to the Federal Ministry of Finance and the Central Bank of Nigeria.

"This is an unprecedented act, without any legal or ethical basis.

It is also a violation of the principle of due process in public administration," he argued.

Atiku said state-owned enterprises were not subject to such arbitrary orders and had full control over their

finances within the confines of their respective establishment laws.

"The NNPCL is a creation of the Petroleum Industry Act 2021 (PIA), which was signed into law by the President of the Federal Republic of Nigeria on 16 August 2021.

"The PIA makes extensive provisions for the formation, structure, governance, and operation of the NNPCL as an independent limited liability company in Sections 53 to 65 of the Act. "The government must, therefore, respect the provisions of the law and allow the NNPCL to run as an independent company based on sound commercial objectives and in line with international best practices and standard principles of corporate governance.

"Only then would the new NNPCL grow into a formidable institution with track records, requisite technical and financial capacity, and readiness to operate in public space,” Atiku added.

According to him, any attempt to undermine the operational independence of the NNPCL will

be a hindrance to any chances of attracting investments and attaining global relevance in the Petroleum Industry.

He stated that the Central Bank Act 2007 does not confer on the CBN any responsibility for vetting the transactions of, or formulating and maintaining the internal controls and internal audits in state-owned enterprises, public or private.

The CBN, he said, should be allowed to perform its core functions as provided in the extant law.

"To enhance transparency and accountability in the operation of the NNPCL, its bank accounts for crude sales proceeds (for example at Morgan Stanley) and the entire crude sales conversion circle can be trailed by the Nigeria Extractive Industries Transparency Initiative (NEITI) and CBN. "Amongst other supportive measures to enhance transparency, the NNPCL board members can be better selected and reconstituted to include, if desired, representatives of the CBN and NEITI," he pointed out.

6

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322

ICAN VALEDICTORY COUNCIL SESSION FOR LATE EMMANUEL IJEWERE… L-R: Second Deputy Vice President, Institute of Chartered Accountants of Nigeria (ICAN), Hajia Queensley Seghosime; Vice President, Davidson Alaribe; President, Innocent Okwuosa; Widow of Late Emmanuel Ijewere, Mrs Jayne Ijewere; His Son, Emmanuel Ijewere Junior; and the Immediate Past President of ICAN, Mallam Tijjani Musa Isa; during ICAN valedictory Council session for the late Past President, Emmanuel Ijewere, held at ICAN Secretariat, Victoria Island in Lagos...yesterday SUNDAY ADIGUN

Akpabio, Gowon Urge Nigerians to Emulate Onaiyekan, Extol Cardinal’s Virtues at 80 Tinubu commiserates with Shettima over stepmother’s demise

Deji Elumoye, Sunday Aborisade and Folalumi Alaran in Abuja The President of the Senate, Godswill Akpabio has hailed the emeritus Catholic Arch-Bishop, His Eminence, Cardinal John Onaiyekan for his remarkable life and service as a true icon of faith and leadership.

He said Onaiyekan's unwavering commitment to justice, compassion and unity has touched countless lives and inspired generations.

Akpabio, according to a statement by his media office, made the remarks as the Chairman of the 80th birthday celebration of the Cardinal in Abuja on Thursday.

He described him as a man of unfaltering faith and unfluctuating dedication, who became a beacon of hope, guiding his flock with love, compassion, and unwavering integrity.

Onaiyekan was the Archbishop of Abuja from 1994 to 2019 and also served as President of the Christian Association of Nigeria (CAN) President of the Catholic Bishops’ Conference of Nigeria, and Bishop of Ilorin.

Akpabio said: "As we reflect upon the extraordinary journey of His Eminence, we are reminded of the power of resilience and determination.

Born into humble beginnings, he rose above adversity and embraced the call to serve a higher purpose.

"In the face of injustice, he has been a tireless advocate for the marginalised and the voiceless. His Eminence has taught us that true leadership lies not in the pursuit of power, but in the relentless pursuit of justice and the untiring commitment to uplifting the most vulnerable among us.

"Beyond his religious leadership, Cardinal Onaiyekan has also been a champion for interfaith dialogue and understanding.

"In a world often divided by religious differences, he has tirelessly worked to build bridges of understanding and foster a spirit of unity among all faiths.

"His Eminence’s life is a proof that true faith is not a source of division, but a powerful force that can bring togetherness in our shared pursuit of a better world," he said.

Also, a former Head of State, Gen. Yakubu Gowon while welcoming the Archbishop emeritus to the club of 80 and above, described Onaiyekan as an exceptional religious leader.

Gowon said Onaiyekan is a man of faith who has worked tirelessly for inter faith unity of the country and wished him many more years

in good health.

A book titled "Religion for Peace" was also presented as part of the activities to mark the birthday celebration.

The birthday celebration attracted religious leaders, past and serving politicians, traditional rulers and industrialists.

Gowon in his remarks reminded Nigerians to reflect on the work of a great person as Onyaiyekan and to emulate his exemplary work toward building a greater Nation.

In a welcome address, Doma Lulu-Briggs the chairman of the occasion described Onyaiyekan as a true Icon worthy of celebration.

Lulu-Briggs said that such a man who has championed religious tolerance and peace should be celebrated and emulated by all especially younger Nigerians.

He called on Nigerians to emulate the teachings and values of Onyaiyekan for greater unity and peace among religions.

The book titled, “Religion and Peace Post Retirement Reflection of John Cardinal Onaiyekan on Interfaith Dialogue,” edited by Rev Fr. George Ehusan was reviewed by prof. Jibrin Ibrahim.

Ibrahim described the book as a

true reflection of Onaiyekan's standing on religious issues to date. According to him the cardinal preaches that the core value of religion is peace and whoever breaches that has flouted the essence of religion. The book was unveiled by a former Governor of Anambra state, Chris Ngige.

Onaiyekan, speaking on the sidelines of the event, said true religion must reflect peace and that whatever hurt one’s neighbour is not religion.

Meanwhile, President Bola Tinubu has condoled with Vice President Kashim Shettima, over the demise of his stepmother, Hajja Hauwa Ajja Kormi, who died on Thursday in Maiduguri, Borno State.

She died after a protracted illness and was survived by five children, stepchildren, and many grandchildren.

According to a release issued by presidential spokesperson, Ajuri Ngelale, the funeral, which was held at the Shehuri North residence of the deceased on Thursday, was attended by a federal government delegation led by the National Security Adviser (NSA), Mallam Nuhu Ribadu, who represented Tinubu.

Speaking after the funeral prayers, Ribadu delivered Tinubu’s condolence message and offered prayers for the

Belgium Reinforces Campaign against Illegal Migration Adibe Emenyonu in Benin City Belgium has announced the launch of a new information and awareness campaign aimed at discouraging irregular migration from Nigeria to the country.

It said the awareness campaign is to urge Nigerians to stay in their own country and improve their lives rather than embarking on a journey that they are not sure of getting greener pastures.

The country added that it was doing everything possible to encourage the Nigerian government to invest in its citizens’ education and build on their dreams in Nigeria as wells as take advantage of possibilities in their own country rather than making dangerous journeys that may lead to death.

Brussels' Director General IBZ Federal Public Service, Home Affairs, Freddy Roosemont, who made this known at a press conference in Benin City, capital of Edo State, also expressed concern over the growing number of Nigerians, who come to the

country to engage in illegal sex trade.

He noted that the total number of Nigerians involved in the activity had ballooned to a significant figure, which has prompted the Belgian authorities to take measures to curb the tide.

Rosemont also revealed that there had been an increase in the number of Nigerians seeking asylum in Belgium, with some attempting to do so in the wrong way.

He explained that asylum is determined based on the criteria set out by the Geneva Convention, which does not include economic motives, adding that as a result, the recognition rate for asylum is very low, and the chances of obtaining a residence permit are almost non-existent.

Roosemont added that some Nigerians who have sought asylum in Belgium have attempted to move to other countries within Europe, only to be sent back to Belgium, from where they are returned to Nigeria.

“We have also noticed that more

and more Nigerians are seeking asylum in Belgium. Some have come to Belgium by legal means, other taken way through the Mediterranean Sea. “Once in Belgium, they apply for asylum, but make little sense.

Asylum is determined on the basis of the Geneva Convention and economic motives are not included.

Therefore the recognition rate for asylum is very low and the chances of obtaining a residence permit are almost non-existence.

“We then see some trying to move to other countries within Europe, but there they will also see that they have already requested asylum in Belgium. Consequently, this European country will send them back to Belgium from where they have to return to Nigeria", he said.

Furthermore, Roosemont said recent statistics from the Belgian authorities, stated that the total number of Nigerians seeking asylum in Belgium has increased considerably, from 350 in 2022 to 370 in 2023.

For regular migration,

Roosemont noted that at least 5,000 Nigerians are living legally in Belgium, noting however, that the inability of applicants to provide genuine documents and proper documentation makes it cumbersome for them to access the country's visa.

To provide viable and sustainable economic alternatives, Rosemont referred Nigerians to organisations and initiatives in Nigeria, such as hersafrica.com, a hub of economic resources for survivors, the helpline of Pathfinders for Justice, and the Coordinated Care Mechanism.

He added that the Federal Ministry of Labour and Development also has a skill training and development centre.

Rosemont said the Belgian government will continue to enact strict control on immigration issues, warning that those who engage in illegal migration risk economic exploitation and arrest.

He urged Nigerian journalists to use their various media platforms to educate their compatriots on the dangers of irregular migration.

deceased.

"The president is not in the country, but he directed that we should come and extend his own condolence and that of the government and the people of Nigeria over this loss. It is a collective mourning, and we join the family in prayers for her soul," the NSA said.

The delegation included, Minister of Agriculture and

Food Security, Senator Abubakar Kyari; Minister of State for Steel Development, Alhaji Uba Maigari; Chairman of the National Hajj Commission, Alhaji Jalal Arabi, Special Adviser to the President on General Duties (Office of the Vice-President), Dr. Aliyu Modibbo Umar, and Senior Special Assistant to the President on Print Media, Abdulaziz Abdulaziz.

Lagos Bridges: No Need to Fret, Says Umahi Minister orders relocation of cooks under Carter bridge Emmanuel Addeh in Abuja The Minister of Works, Senator David Umahi, has allayed the fear of road users in Lagos about the integrity of the Third Mainland bridge as well as Eko and Carter bridges, saying “there is no need to worry.”

Explaining the work to be done, he said that some of the elements which are defective are going to be fixed, stressing that the federal government was going to reinstate the defective slabs with the new design.

Speaking to journalists yesterday after the joint assessment tour of the three bridges in company of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the minister explained that over the years, after the construction of the bridge, there was no serious maintenance.

He therefore assured that the failure of some parts of the bridge would be addressed. “So, we are working on the problems about the bridges,” a statement by the Director of Information in the ministry, Olusola Abiola, noted.

On the state of the Lagos shoreline, Umahi stressed that the shore protection on the Marina needs urgent attention, noting that the Lagos railway project, the blue line might be threatened if nothing is done to address the matter.

At the end of the exercise in Lagos, the ministers who agreed there was need for rehabilitation work to be carried out, noted that the impact created by the current of water under the bridges and on the shoreline needed intervention.

On the ongoing rehabilitation of the third mainland bridge, the minister

revealed that some comprehensive works would be done especially in the area of provision of streetlights on and under the bridge and installation of Close Circuit Televisions (CCTVs).

While praising the work being done by the contractor, he assured that the bridge would be opened to road users soon.

On his part, Edun commended the minister of works and his team of officials for their efforts at rehabilitating the roads and bridges, describing them as very important for economic development.

While answering questions from reporters, the minister disclosed that the federal government was looking to raise revenue to finance infrastructure.

“What we are targeting and working towards is a 77 per cent increase in Internally Generated Revenue (IGR) for the federal government. So that is where the funding particularly is going to come from,” he submitted.

Meanwhile, during the inspection tour, the works minister upon sighting those cooking under the Carter bridge, ordered that security be mobilised to stop the menace, adding that they should be relocated immediately to avoid any serious damage to the health of the bridge.

In continuation of the inspection of federal road projects in Lagos, the two ministers also visited the Lagos-Calabar coastal highway and met with the contractor to review progress work on the project.

The project, when completed is expected to go through the shoreline linking Lagos with Calabar . On the inspection tour were senior government officials from the ministry, officials of Julius Berger and some journalists.

FRIDAY FEBRUARY 2, 2024 • T H I S D AY

7

8

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

REBRANDING AND UNVEILING OF NEW BRAND, MEMAN… L-R: CEO, Major Energies Marketers Association of Nigeria (MEMAN), Mr. Clement Ison;, Managing Director, Ardova Plc, Mr. Moshood Olajide; Managing Director, 11 Plc, Mr. Adetunji Oyebanji; CEO, TotalEnergies Marketing Nigeria Plc, Dr. Samba Seye; Managing Director, MRS Oil Nigeria Plc, Mr. Marco Storari; Managing Director, NNPC Retail and Chairman, Major Energies Marketers Association of Nigeria, Mr. Huub Stokman at the rebranding and unveiling of the new brand, MEMAN held in Lagos... yesterday

Agro-inputs Dealers Lament Scarcity of Urea, Seeks to Combat Adulteration, Round-tripping James Emejo in Abuja The Nigeria Agro Input Dealers Association (NAIDA) yesterday called on the federal government to address the scarcity of Urea in the Nigerian markets.

President of NAIDA, Alhaji Kabir Umar Fara, while calling on the Minister of Agriculture and Food Security, Senator Abubakar Kyari to save the situation, however, attributed the scarcity to the stoppage of its distribution by major producers namely Indorama Petrochemicals, Notore, and Dangote Fertilizer companies.

Speaking at the inauguration of the Compliance Monitoring Team on Agricultural Input Distribution/ Sales in Nigeria, he said, "We would therefore appreciate the Hon. Minister’s quick/urgent intervention on this matter with a view to calling/encouraging these companies to start this critical/ essential input to eradicate the scarcity in the Nigerian markets as soon as possible.”

Fara also reiterated the association's commitment to tackling adulteration and round-tripping of agro-inputs in the country.

The counterfeiting and roundtripping of agro-input particularly fertilizer pose major threats to the pursuit of the food security agenda of the current administration as well as constitute economic risks to farmers.

He pointed out that the association seeks to live up to its mission statement to make quality agricultural inputs available, accessible and affordable to farmers in the country.

He said the move will help increase the well-being of farmers and ensuring food security for all.

He explained that the inauguration of the team in all the 36 States including the Federal Capital Territory (FCT) will no doubt facilitate and ultimately create an enabling environment for sustainable agricultural development in the country.

Fara said, “It is pertinent at

this juncture to bring to fore the outcries by the public on the dubious attitudes of agro dealers particularly with regards to adulteration of agricultural inputs, round tripping of products especially fertilizer which for all intent and purposes is perhaps exaggerated.”

He said while he was not exonerating members of the association from culpability, there are also members who play by the rules.

H said, “As we all are aware, human beings all over the world are bound to always want to cut corners and that is why laws/ punishments are established in statute books to address these behavioral patterns accordingly.

“It is on this note and recognising that we have some of us that are culpable of these malpractices in the sales/distribution of agricultural inputs that this compliance monitoring team is being put in place in all the 36 States and FCT with a view to addressing the

malpractice accordingly.”

He expressed confidence that the setting up of the team would no doubt minimise or put an end to the atrocities being perpetrated by unscrupulous dealers within the association.

He said going forward, the association would impose selfregulatory mechanism on itself to put the situation under control.

Fara said NAIDA was prepared to work with relevant stakeholders at both the State and National levels to ensuring that good quality agricultural inputs are made available to farmers across the country.

Also, speaking at the occasion, the National President, All Farmers Association of Nigeria (AFAN), Mr. Kabir Ibrahim, congratulated members of NAIDA for taking up the challenge to self-regulate.

He said, "I am glad that you are doing soul searching, you are looking at your membership, you are promoting integrity. That is the

FG Targets 77% Rise in IGR to Construct Coastal Road, Restore Bridges, Others Bennett Oghifo The federal government is working towards a 77 per cent increase in Internally Generated Revenue (IGR) as a core fund to finance the restoration of the Third Mainland, Eko and Carter bridges in Lagos as well as the construction of the Lagos-Calabar coastal road, the Minister of Finance, Wale Edun has said.

The minister stated this on Wednesday during an inspection of some projects in Lagos and Ogun states, including the Third Mainland and Carter bridges, coordinated by the Minister of Works, Senator David Umahi.

They inspected the ongoing work at the Third Mainland bridge and the beginning of the Lagos-Calabar coastal road.

Edun said: “They are doing a very good job, not just designing, but keeping a strong eye on the design of these projects but also the implementation.

“And in addition, they are dragging a hard bargain in

terms of the costing. So, kudos to them. But also to their partners, Buildwell, Julius Berger, CCCC, who are doing the Third Mainland Bridge, I think seeing is believing and I have seen very good work so far in terms of the critical repairs that need to be done to the bridges and the protection of the shoreline.

“This includes the fact that the blue line (light rail) is right by the shoreline, so if the shoreline goes, everything above it goes.

What we have seen, as they say is, a stitch in time saves nine. So the spending that we necessarily have to do is money well spent.

“It is economical, it is sensible, it is practical, it is the right thing to do and Mr President's commitment is to get the economy growing again. And one of the key things is infrastructure, mobility, transportation, logistics and when you talk about roads and bridges and highways, we are talking about the basic infrastructure that you need to get the economy growing again.

“So, we have to find the money.

We will find the money. There has been a change in the finances of Nigeria. Some of the things that are going to come out as benefits are not yet apparent.

“And quite a lot of the pain are transitioned steps that are being taken but at the end of the day, we can look forward with confidence to a bright future beginning with restoration of economic growth of jobs, of reduction in poverty,” he assured.

He added that the government was reaffirming its priorities in terms of spending, stressing that whatever is done to mobilise the funds will not be misplaced spending.

“You asked us, where would we find the money? The number one place is the changes that were made, the energy that was stopped in terms of the spending that was wasteful, that was only benefiting a small minority in terms of the 2 per cent of GDP that was spent on fuel subsidy.

“That was the number one leakage that was stopped. In

addition, we have to encouraged NNPC and all the security forces at the time of high oil prices to push up oil production and oil sales.

“And in-between that, there is a whole range of improvements, digitalisation, computerisation, application of technology and systems to ensure that what is due to the government on behalf of the people of Nigeria is not going into a few pockets, it is coming into the common pockets.

A whole number of things, tax measures and so forth,” he noted.

He added: “And I will just end by saying that what we are committing to and we are targeting and working towards is a 77 per cent increase in the internally generated revenue for the federal government, so this is where the funding particularly is going to come from.

“Of course, there are many other sources but that is a core element of where we will find the funding to repair the bridges, to complete the roads including the coastal road,” he disclosed.

most important element in nation building.

“What you are doing is to ensure that anybody who say he or she is

a member is duty bound to keep to your rules, it is no longer an all comers affair. I congratulate you for taking this step.”

France’s Canal+ Plans to Buy Multichoice Group Emma Okonji with agency report France’s Canal+ Group, which has in recent years been buying up a significant stake in MultiChoice Group on the open market, is now moving to take control of the South African pay-television group, should South African media ownership restrictions allow it.

Canal+ said yesterday that it would offer R105/share for MultiChoice, or a 40 per cent premium to the closing price on 31 January 2024.

It already holds 31.7 per cent of MultiChoice’s equity, according to a regulatory filing last year. The indicate offer price would value MultiChoice at about R48-billion.

The French broadcaster said it submitted a letter to the MultiChoice Group board in which it has made a “non-binding indicative offer to acquire all of the issued ordinary shares of MultiChoice that it does not already own, subject to obtaining the necessary regulatory approvals”.

The move comes as MultiChoice increasingly works with another global broadcasting group, Comcast, which owns NBCUniversal and the UK’s Sky. The two Comcast companies have

worked closely with MultiChoice to relaunch Showmax, its streaming video entertainment offering.

Given South African broadcasting rules, which prohibit foreign entities from owning more than 20 per cent of a local broadcaster’s voting rights, it might be difficult for Canal+ to get the deal across the line, assuming MultiChoice is prepared to entertain it, sources said.

Canal+, in an e-mailed statement issued prior to the market open in Johannesburg yesterday, said: “Subject to certain confirmations that Canal+ expects following further engagements with MultiChoice, Canal+ anticipates its offer to be for a cash consideration of R105 per MultiChoice ordinary share, which would represent a premium of 40 per cent to MultiChoice’s closing share price of R75 on 31 January."

The intention letter read: “Upon the satisfactory completion of a confirmatory due diligence, Canal+ intends to deliver a firm intention letter to the independent board,” it said.

“At this stage, there can be no certainty about the progression of the potential offer, nor the terms of any transaction that may occur.

Tinubu Congratulates Dangote on Receipt of Senegal's Highest Honour Deji Elumoye in Abuja President Bola Tinubu has rejoiced with the President and Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, on the award of the National Order of the Lion by President Macky Sall of Senegal.

The award, which is the highest order of Senegal will be bestowed on the astute businessman on February 2, 2024.

The president, according to a

release issued yesterday by his Media Adviser, Ajuri Ngelale, hailed the industrialist for his enterprise and ingenuity.

He praised Dangote for creating jobs and opportunities for many in Nigeria and across West Africa, as well as contributing to their economies, which he said the award further affirms.

Tinubu commended Dangote and wished him the very best in his various other endeavours.

FRIDAY FEBRUARY 2, 2024 • T H I S D AY

9

10

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

SANWO-OLU MEETS WITH CCECC MANAGEMENT IN BEIJING… L-R: Director, Rail Transport, Lagos Metropolitan Area Transport Authority (LAMATA), Mr. Olasunkanmi Okusaga; Chairman, China Civil Engineering Construction Corporation (CCECC) Nigeria Ltd., Mr. Jason Zhang; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Vice President of CCECC, Mr. Michael Jiang and Managing Director, LAMATA, Mrs. Abimbola Akinajo during the governor’s meeting with the corporation’s management at its headquarters in Beijing, China ...yesterday

FG Eyes $10bn Investment in Disputed OPL 245, Explains Ongoing Talks on $1.3bn Malabu Deal Emmanuel Addeh in Abuja The federal government has said that Nigeria could rake in as much as $10 billion in investments if the current negotiations to finally settle the 28-year disputed case on the controversy-ridden Malabu deal involving Oil Prospecting Licence (245) in the Niger Delta succeeds.

It also reacted to an online report, alleging underhand dealings in the current talks between the government and litigants in the prolific oil bloc, describing the report as a “compendium of lies”.

The report had alleged that President Bola Tinubu agreed to the deal largely to “expand his own riches” when he was supposed to maximise its benefits for the

Nigerian people.

It said there was an arrangement brokered by Tinubu’s “controversial ally” Gilbert Chagoury, stressing that the president also withdrew all existing cases against Shell and Eni from international tribunals and allowed both firms to take back control of OPL 245 without fresh dues to Nigeria.

According to the report, a “new resolution agreement” was entered with representatives of the two oil firms, Eni and Shell, after which Nigerian representatives left for Paris to meet the president with the details.

But addressing journalists in his office in Abuja, the Minister of State, Petroleum Resources (Oil), Senator Heineken Lokpobiri, said

Navy Destroys Three Illegal Refining Sites in Bayelsa Julius Osahon in Yenagoa The Nigerian Navy Forward Operating Base (FOB) FORMOSO, in Brass Local Government Area of Bayelsa, have destroyed three illegal refineries sites laden with about 50,000 litres of products suspected to be stolen crude oil.

The operation was conducted from Sunday 28 to 30 Tuesday January 2024 in Bayelsa.

The operation which was in line with the recently launched Nigerian Navy Operation Delta Sanity, was to put an end to illegal oil theft and bunkering activities within the maritime domain.

In a statement signed yesterday, by the Commanding Officer Forward Operating Base FORMOSO, Capt Murtala Rogo, the Navy said the outfit carried out the three days patrol along Nigerian Agip Oil Company (NAOC) Tebidaba – Brass pipeline.

It said: "On 29 January 2024 at about 0845, the Team located one illegal refinery site and a wooden boat laden with about 20,000 litres of product suspected to be crude oil at Latitude 04°30'38"N Longititude 006°14'51"E, Galubakiri Creek, Nembe Local Government Area of Bayelsa.

"While in the heat of the patrol, on the same day at about 1130, another illegal refinery site was

also located laden with about 17,000 litres of product suspected to be stolen crude oil at position Latitude 04°31'51"N Longitude 006°15'58"E around Mbiakpaba, Nembe Local Government Area of Bayelsa.

"Accordingly, in line with the extant Rules of Engagement, both illegal refinery sites and the boat were appropriately handled," the statement read.

On January 30, 2024, the team said it conducted patrol around Obama, Igbikiba, Igbomotoru, and Tebidaba General Area.

During the patrol, the team disclosed that it intercepted two wooden boats with remnant of product suspected to be stolen crude oil at position Latitude 04°28'30"N Longitude 006°5'49"E Diebu Creek, Southern Ijaw Local Government Area of Bayelsa.

It added that while combing other creeks around the pipeline, the it discovered another illegal refinery site laden with about 15,000 litres of products suspected to be stolen crude oil and five locally made iron ovens at position Latitude 04°32'4"N Longitude 005º56'38"E Biabagbene Southern Ijaw LGA. "Pertinently the illegal refinery site was handled appropriately while the ovens were dismantled accordingly,” it stated.

the report was misleading, insisting that at the moment no deal had been reached in the negotiations.

The minister stated that the federal government had weighed all its options, given that for 28 years there had been no headway in all the litigations in almost all parts of the world, which the Nigerian government lost.

Lokpobiri maintained that if Nigeria is able to resolve issues around OPL 245, it could attract investment to the tune of $10 billion and markedly change the story of the oil industry in Nigeria. “The block has been tied down for 28 years,” he lamented .

He stated that because the courts could not detect criminal liability in the cases, it was difficult to get a judgement that favoured Nigeria.

Aside former President Olusegun Obasanjo, who tried to resolve the matter, Lokpobiri stated that the late ex-President Umar Yar’Adua and Goodluck Jonathan also tried to resolve the cases, explaining that despite spending huge sums to prosecute the case in several courts, Nigeria lost all of them.

“And so, there have been multiple litigations around in different parts of the world, in Europe, Canada, in Nigeria. It's also important for us to state that in all the cases that have come before different courts, we have lost all,” he stated.

The minister argued that Nigeria needed to get its oil out of the soil as soon as possible, explaining that any investment that the oil sector cannot attract between 2024 and 2025 will be hard to attract thereafter.

“Now, this president because of his vast experience, and because of the way we have found ourselves in the comity of nations, has directed that we should resolve the problems around OPL 245,” he stated.

According to him, meetings had been held in Netherlands, UK, Milan and several other parts of the world to resolve the pending matter.

“There is no agreement signed as of today and when I look at that report, it says an agreement was signed and after the agreement was signed, some people went to Paris to meet with the president.

No agreement has been drawn up and signed by parties,” he added.

Stressing that the NNPC could not have distanced itself from a deal it had no equity in, Lokpobiri explained that the imputation that he had been piling pressure on members of the team of negotiators was also untrue.

“They also said that the NNPC distanced itself from the so-called agreement. There has been no agreement signed by parties, they are still negotiating,” he said , adding that the bloc is a sole risk deal.

“You must be a shareholder before you can distance yourself from something, “ he argued.

According to Lokpobiri, Nigeria needs to get as much of its natural resources from the soil as possible before it becomes unusable.

“The whole world is going towards abandoning fossil fuel.

The whole world is talking about reducing investment in fossil fuels. And the president in his wisdom, having vested me with the responsibility to oversee oil, I have a responsibility to ensure that we attract all the investment that we can as a country.

“Any investment that we

cannot get between 2024 and 2025, forget it. And that is why it is my responsibility to ensure that any issues around the oil sector is resolved so that we can attract the requisite investments.

He lamented that globally, Nigeria is at its lowest level when people talk about investment, noting that a report recently published between showed that Nigeria’s Capex to reserve is the lowest in the world.

“You will go to Guyana, the capital to reserve is 617 per cent, Brazil is 115 per cent. If you go to Mozambique, it is 92 per cent. Go to Angola, it's 46 per cent. But if you come to Nigeria, it’s 5 per cent. “ If we do not do whatever we can to attract investments, the crude oil deposit we have here will be a souvenir. It will translate to nothing in the next few years,” he said.

He added: “The president has nothing to do with it apart from giving the order to say go and resolve the matter. Nigeria needs investment. And that is the work of the president. That's the work he has given to us to do and we have to do it, no matter the blackmail.”

PUNCH to Celebrate 50th Anniversary in Lagos Wale Igbintade One of Nigeria’s foremost print and digital media group, PUNCH Nigeria Limited, is set to roll out the drums to mark its 50th anniversary with an array of epoch-making ceremonies in Lagos.

A statement issued by PUNCH's General Manager, Corporate Services, Olufolakemi Gbemuotor disclosed that the 50th anniversary would be marked simultaneously with the 40th anniversary of the passing of the founding Chairman, the late Chief James Olubunmi Aboderin, who died on February 28, 1984 at the age of 50.

She stated that The PUNCH, Saturday PUNCH, Sunday PUNCH and PUNCH Online, clocked 50 on March 18, 2023, but its board of directors moved the 50th-anniversary celebration to 2024 because the anniversary month fell within an election month and year.

According to the statement, the weeklong celebration would start on Saturday, February 24 with

a novelty match between Team PUNCH and the Nigeria Media XI, a team made up of journalists from other newspaper houses in the country.

The novelty match will take place at the Mobolaji Johnson Arena (formerly Onikan Stadium), Onikan, Lagos Island. Both teams will be coached by two former Super Eagles players, Victor Agali and Brown Ideye.

“Beginning on Wednesday, February 28, PUNCH will hold a three-day photo exhibition at the Alliance Francaise de Lagos/Mike Adenuga Centre, Osborne Road, Ikoyi, Lagos, to afford its readers and other Nigerians opportunities to view the best photographs from its extensive pictorial archive of the biggest news events in the nation’s history.

“The high point of the anniversary is a distinguished public lecture to be held on Thursday, February 29 at the Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos, which will

host leaders from the public and private sectors.

“Besides the weeklong activities will continue on Saturday, March 2, 2024, at Eko Hotels and Suites in Lagos, where PUNCH will host a black-tie dinner to acknowledge the contributions of its stakeholders to the success of our organisation,” it stated.

The Chairman of the company’s Board of Directors, Mrs Angela Emuwa, described the anniversary and her father’s 40th remembrance as an opportunity to celebrate twin milestones.

Emuwa said: “For over five decades, PUNCH has made tremendous impact in Nigeria.

At a time when we are equally remembering the passing of our founding chairman, it is fitting to look back at those landmark events that have shaped the course of history in our national polity and appreciate those who have stood by us not only in good times but when it was uncomfortable for them to do so.”

The Managing Director/ Editor-in-chief of PUNCH Nigeria Limited, Mr Adeyeye Joseph described PUNCH as a national treasure that had stood with Nigeria through thick and thin.

According to him, the newspaper’s anniversary celebrations will be for all Nigerians who believe in the values that PUNCH has consistently espoused over five decades.

“PUNCH has outgrown its humble beginnings to emerge as a national institution. The celebration of our 50th anniversary is not just an opportunity to wine and dine but a chance to celebrate our excellent heritage and fierce editorial independence,” Joseph said.

The anniversary’s grand finale is a staff party on March 9 at which current and former staff will be feted for their contributions to PUNCH's successes.

Also, a special commemorative anniversary publication to mark the golden jubilee anniversary of the newspaper would also be distributed at some of the events.

FRIDAY FEBRUARY 2, 2024 • T H I S D AY

11

12

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

CROSS RIVER STATE PAYS THANK YOU VISIT TO GAC MOTORS FOR SUPPORTING CARNIVAL CALABAR...

L-R :Liaison Officer, Cross River Liaison Office Lagos, Sunday Obogo; Marketing Consultant for the Carnival, Mary Ephraim Egbas; Chief of Staff to the Governor of Cross River State, Emmanuel Ironbar; GM Marketing for GAC, Jibrin Arogundafe; Convener, Akwaaba Travel Market/Consultant to the Carnival, Ikechi Uko land William Ukpong from the Office of the Chief of Staff, during a thank you visit by the Cross River State Government to GAC Motors for Supporting Carnival Calabar 2023 in Lagos...recently.

Oborevwori: Delta Ranks First in Criminal Justice Reforms, Says AGs of South-east States Adopted Law as Model Idowu Sylvester inWarri

office almost 30 years of distinguished service at the Bar," the governor said.

He challenged the new attorneygeneral to sustain the state’s pacesetter role in Criminal Justice Reforms, adding that the state's criminal justice laws are adjudged widely to be 21st century- compliant, especially with recourse to technology.

Oborevwori stated, "The transition period of both laws ended on December, 22, 2023. So, both laws are now operational in all courts in Delta State.

"The rigorous and successful implementation of these laws is, therefore, imperative for Delta State to maintain its leadership position.

"Only recently, Attorneys-General of the South-east states adopted the Administration of Criminal Justice Law 2022 as their model, hailing it as ‘a unique framework for the administration of criminal justice’.”

Oborevwori described Osuoza as a tested hand and avid communicator in the field of political communication and information management, having served meritoriously as the Peoples Democratic Party (PDP) State Publicity Secretary in the last eight years.

The governor said regarding the new Commissioner for Information,

"His appointment as information commissioner is thoroughly welldeserved. Dr Osuoza, popularly known as Agenda, is a committed PDP member, humble leader, avid communicator, and relentless public commentator.

"It is my earnest expectation that he will take the government’s information management machinery to a whole new level. I expect creativity and innovation in government communication in a way that ensures optimal, fact-based projection of the policies, programmes, achievements, and activities of the government.

"One major shift I will like to see in the information ministry is for it to go beyond the information arena and engage in positive citizen engagement and mobilisation.

"It is my considered view that stakeholder perception audits must be integral to the operations of the information ministry.

Otti Assures Devt Partners of Commitment to Fighting Poverty in Abia

The Senator representing Adamawa North Senatorial District before he was sacked by the Appeal Court in October last year, Elisha Abbo, has appealed to President Bola Tinubu, to withdraw the appointment of Justice Chioma Nwosu -Iheme to the Supreme Court .

Abbo at a news conference in Abuja yesterday, alleged that the Appeal Court carried out “Judicial banditry” and miscarriage of justice against him and other federal lawmakers.

Nwosu-Iheme was among the 11 Justices from the Court of Appeal nominated for vacant

Delta State Governor, Hon. Sheriff Oborevwori, yesterday, said the state ranked first in the country in Criminal Justice Reforms, which, according to him, Attorneys-General of the Southeast states adopted as their model.

Oborevwori said the state achieved the feat following the passage of the Administration of Criminal Justice Law 2022, and Administration of Civil Justice Law 2022 by the state House of Assembly under his leadership as Speaker.

The governor made the assertions during the swearing-in of three newly appointed commissioners in Asaba, the state capital.

The new commissioners were Mr. Ekemejero Ohwovoriole, SAN, Attorney-General and Commissioner for Justice; Dr Ifeanyi Michael Osuoza, Commissioner for Information; and Prince Kelly Kalanama Penawou, Commissioner for Local Government and Chieftaincy Affairs.

Oborevwori described Ohwovoriole as a brilliant and capable lawyer schooled in the best traditions of legal practice.

"Deep, driven, and devoted to his craft, Ohwovoriole brings to the

Emmanuel Ugwu-Nwogo in Umuahia Governor Alex Otti has expressed the full commitment of his administration to fighting poverty in Abia State, saying that since inception eight months ago all its policies and programmes were geared towards winning the battle.

He made the promise at a meeting with a delegation of the European Union(EU) along with representatives of the International Labour Organisation(ILO) and other development partners.

The National Bureau of Statistics(NBS) puts the poverty index of Abia at 30 per cent, which is below the national average of 40.1 per cent.

But Otti was quoted in a press release by his Chief Press Secretary, Kazie Uko, to have assured the development partners on Tuesday that he would work assiduously to reduce poverty incidence to far below the present 30 percent.

The governor said that he would achieve the set goal within a year regardless of the population increase and its expected effect on the dynamics of poverty incidence.

"We may not be able to eliminate poverty but we can alleviate it when we create an enabling environment for businesses to grow and generate employment and pull people out of

unemployment," he said.

Otti stated that: "We want to genuinely take people out of poverty" but he underscored the need for reliable statistics of the actual number of people below the poverty level.

He added: "Once you have a reliable database it becomes easy to plan and for you to measure," the governor said, adding, "we want to see the number and see the poverty rates go down even if the population is going high".

He thanked the team of development partners for considering Abia as one of the states selected for partnership for the project on social register and social protection.

According to him, Nigeria has "struggled with the social register" hence he expressed happiness at the intervention of the development partners, who "are talking about social register and social protection".

"There is nothing as important as data, because without data you cannot plan. So, we'll do everything possible to ensure that you do your work and generate reliable data for the purpose other than social protection," he said.

The Abia governor said that with the world already looking at the issue of multidimensional poverty, there was need to go beyond tackling poverty "as a stand-alone item, but poverty that looks at wealth, access to education and infrastructure".

"It should serve in the best traditions as a sensor, gathering intelligence and inputs from the citizenry that would form the basis of the policies and programmes of the government."

Oborevwori stated that Penawou was a grassroots politician of immense stature with extensive experience in local government administration.

He said he expected nothing but excellence and exemplary performance from the local government commissioner, having served as Special Adviser on Local Government Affairs in the immediate past administration.

The governor charged the commissioners to lead by example by being role models in their respective ministries.

Oborevwori said, "To the commissioners, I leave you with no charge other than the one I gave to your colleagues, and I quote.

“As heads of ministries, your

personal example is the most powerful leadership tool you possess. You must be role models in punctuality, discipline, hard work, excellence, honesty, transparency, and accountability. People will do what they see you do, not what you say.

Hence, you must endeavour to match your words with actions.

“Let fairness, equity, and justice guide your actions, and you must give every citizen equal opportunity to benefit from our programmes and services. In this regard, you must shun ethnic politics and divisive tendencies. You are to maintain an open door policy in your ministries and be accessible to all and sundry.

"I wish to reassure Deltans that with the distraction of the court cases now behind us, this administration is poised to fully focus on the business of advancing Delta State through accelerated infrastructural development, more job opportunities, improved

learning climate in our schools, and better working conditions for workers in the public service.

"What we have achieved in the last seven months will pale in comparison to what we are set to do in the months and years ahead. Rest assured, we are determined to make life richer, better, and more fulfilling for all Deltans."

He charged all political appointees to roll up their sleeves and redouble their efforts to contribute their quota to the effective and successful implementation of the MORE agenda.

"We must reciprocate the massive mandate given to us by the good people of Delta State with sincerity of purpose, empathy with the people, and improved service delivery, in the discharge of our duties," Oborevwori said.

Responding, Osuoza expressed appreciation to God and Oborevwori for finding them worthy to serve as commissioners.

Controversial Judgments: Senator Begs Tinubu to Drop Nwosu-Iheme as Supreme Court Justice Sunday Aborisade in Abuja

seats at the Supreme Court by Tinubu in December last year as recommended by the National Judicial Council (NJC) and later confirmed by the Senate A few days to the inauguration of Nwosu-Iheme and 10 others as Supreme Court justices by the Chief Justice of Nigeria , Justice Kayode Ariwoola, the Senator called on Tinubu to withdraw her nomination . Abbo's election was nullified by the Appeal Court in October last year.

Abbo added that the alleged miscarriage of justice carried out against him by the justice was "also done by some other justices of the Court of Appeal against targeted elected lawmakers and

governors , some of which were later upturned by the Supreme Court ."

He said: " The kernel of my submission at this press conference is that appointment of Justice Chioma Nwosu - Iheme into the Supreme Court , is not good for our judicial system and dispensation of Justice .

"Justice Chioma Nwosu - Iheme is among some Justices in the country , carrying out judicial coup against democracy in Nigeria . Justices like her should not be allowed to get to the Supreme court. " President Bola Tinubu should please in line with his renewed hope mantra , terminate the

appointment of Justice Chioma Nwosu - Iheme into the Supreme Court to save our judiciary from Judicial bandits . " For the required punishment and deterrence, I have filed petitions against Justice Chioma Nwosu - Iheme, Justice Olabode Adegbehingbe and Justice Muhammad Ibrahim Sirajo , to the NJC and Chief Justice of Nigeria ( CJN) , over their judgement in the electoral case between Rev. Amos Kumai of the Peoples Democratic Party (PDP) and me. " The said Justices of the Court of Appeal gave a deliberately skewed judgement against me , which should be critically looked into."

Basic Education: FG Launches Devt Programme to Raise Teachers’Skills Kuni Tyessi in Abuja The Federal Government has launched the Teacher Internship Scheme (TIS), a new teachers’ development programme, designed to support states in the emergence of a new generation of teachers with skills.

The scheme was introduced by the Universal Basic Education Commission (UBEC) to address the dearth of teachers in the field of smart education being championed by the commission in Nigeria, with the establishment of 37 Smart Schools across the country.

It is being provided technical

support by the Korea International Cooperation Agency (KOICA) with a commitment of about $10.4 million to the project.

Minister of Education, Prof.

Tahir Mamman, who launched the programme yesterday at the UBEC Digital Resource Centre, located in Kado, Abuja, also inspected the facility established to serve as a hub for creating and distributing resources to schools as well as training the school personnel.

He expressed the commitment of the federal government towards provision of Information and Communication Technology (ICT) infrastructure for enhanced teaching

and learning in the country.

According to him, ICT has dominated every spectrum of life and Nigeria must make a paradigm shift from the traditional method of teaching children using blackboard and chalk.

He commended the Executive Secretary of UBEC, Dr Hamid Bobboyi, and his management team for the initiative, noting that no one talks of quality of education without teachers with the right skills and knowledge to drive the process.

Earlier, the Executive Secretary of UBEC, Bobboyi, explained that participants in the scheme are

graduates of education selected based on merit from all the states of the federation and are expected to go through intensive training for two years.

"It is envisaged that at the end of the two-year programme, the interns would emerge as a new breed of teachers, equipped with the skills and knowledge to harness the power of technology and transform the learning experience.

"They would not just be teachers; they will be smart teachers who would be innovators, catalysts for change, and architects of a brighter future for the Nigerian child," he said.

FRIDAY FEBRUARY 2, 2024 • T H I S D AY

13

14

FRIDAY FEBRUARY 2, 2024 •T H I S D AY

FRIDAY FEBRUARY 2, 2024 • T H I S D AY

15

16

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

LAILA NWOKO'S BIRTHDAY CELEBRATION...

L-R: Senator Prince Ned Nwoko, his wife and celebrant, Mrs Laila Nwoko; Hajia Gololo and former House of Representatives member, Alhaji Mohamed Gololo; during the birthday celebration of Mrs. Laila Nwoko,in Abuja...recently KINGSLEY ADEBOYE

Decentralising Security is Solution to Nation’s Insecurity, PDP Govs Maintain Donate N100m to victims of Plateau crisis Segun Awofadeji in Bauchi and Seriki Adinoyi in Jos Worried by the spate of insecurity across the country, the Peoples Democratic Party (PDP) Governors’ Forum, has called on the federal government to consider decentralising the nation’s security apparatus, including creating multi-level police.

The governors, who took the position when they paid a condolence and solidarity visit to the Governor of Plateau State, Caleb Mutfwang over the recent killings in the state, donated N100 million to victims of the attacks.

Led by its chairman, Governor Bala Mohammed of Bauchi State, the forum said, “We are with you, and we know you are a Nigerian par excellence and a statesman. We believe you will handle the crisis appropriately.”

Highlighting the limitations of the current security structure and the importance of engaging local communities, the governors said, “We need some decentralisation of the security apparatus so that we can enhance good governance by having good state police.”

Donating the sum of 100 million naira to support there habilitation efforts in the affected

areas in the state, they also stressed the need for a united front in tackling the security challenge head on.

They further urged the federal government to look at the crisis in the state, not as sectarian or sectional, seeing that it had lingered for too long.

Mutfwang, while responding expressed acknowledged the significance of the visit at such a trying time.

He underscored the fact that insecurity has become a national issue, and the imperativeness to rebuild trust within communities, emphasising the need to see this

as a collective responsibility of all and sundry.

He further expressed optimism about PDP's role as a formidable opposition, and dedicated to delivering dividends of democracy, saying “Nigerians have always trusted the PDP, and that, for me, is enough reason to

continue to do the best I can.”

Members of the Forum who joined Mohammed on the visit were Governors Godwin Obaseki of Edo State, Ademola Adeleke of Osun State, Ahmadu Umaru Fintiri of Adamawa State, Peter Mbah of Enugu State, and Seyi Makinde of Oyo State.

NARTO Decries Incessant Bandits, Kidnappers' Attacks on Members Nationwide Seeks expeditious repair of roads, demands freight review Emmanuel Addeh in Abuja

wave of kidnappings skyrocketing to unsustainable support of NARTO. We are pleased country, particularly within levels, marketers consistently refuse with the role of NARTO in recent Ex-NUPENG Scribe, Frank The Nigerian Association of Road theinthetheincreasing federal capital territory, Abuja,” our requests for freight reviews, times. I will be failing in my duty citing government restrictions on if we don't acknowledge the role Owners (NARTO) has he stated.

Kokori for Burial March 8 Transport The NARTO president explained adjusting petrol pump prices, even you played to mitigate fuel queues. deplored the rampant attacks by

Sylvester Idowu in Warri

The family of a former General Secretary of the National Union of the Petroleum and Natural Gas Workers (NUPENG) Chief Frank Kokori, have fixed March 4-10, 2024, as dates for the final burial rites of the deceased.

Kokori died on December 7, 2023, which was the day he clocked 80 years, after a brief illness.

The burial dates were announced yesterday in a statement on behalf of the children and family of the late foremost unionist by the burial planning committee (media subcommittee).

The statement was jointly signed by the Media Subcommittee’s alternate chairman, Felix Ayanruoh, on behalf of the chairman, Mr Kayode Komolafe, Secretary, Ebenezer Adurokiya and son of the late octogenarian, Kive Kokori.

The subcommittee disclosed

that the burial ceremony would commence with a symposium/ lecture day/day of tributes on March 4 at the NAF Conference Centre, Abuja.

It said President Bola Tinubu, other top government functionaries and leadership of labour unions, members of the civil society and the general public are expected to be in attendance.

On Thursday, March 7, 2024, the body of the octogenarian will be lying in state, coupled with a service of songs and Christian Wake at his Ovu home in Delta State.

Final church burial service for the late unionist, according to the statement, holds on Friday March 8, 2024, to be followed by interment, and reception and entertainment of guests.

The seven-day burial ceremony will be wrapped up on Sunday, March 10, 2024, with a church thanksgiving for family members, friends and well-wishers, the statement said.

bandits and kidnappers as well as armed robbers on its members, urging the government to intervene.

Speaking at the 24th Annual General Meeting and Conference of the organisation in Abuja, the national President, Yusuf Othman, said that many of the organisation’s drivers and their assistants had been victims of the menaces in recent times.

Othman stated that several of the assets of NARTO had also been hijacked, explaining that after a lull in insecurity a while ago, there had been a resurgence of attacks on its members nationwide.

“The activities of bandits, kidnappers, and thieves have made life miserable for drivers.

We have had many cases where drivers were kidnapped while on duty and some had their trucks hijacked at gunpoint along some of the critical routes in the country.

“Many drivers and their assistants have lost their lives and losses incurred from such incidences. Sadly, we have witnessed the resurgence of these ugly incidences recently with

that the persisting issue of inadequate road infrastructure in the country remains a significant impediment to the seamless movement of people, goods, and services.

He lamented that despite substantial funding allocated by the federal government, such as the N1.6 trillion and N621 billion in the Nigerian National Petroleum Company Limited (NNPCL) tax credits, numerous critical road rehabilitation projects were still incomplete.

He argued that the situation may worsen during the rainy season, urging the federal government, specifically the federal ministry of works, to ensure the expeditious completion of the projects to alleviate the hardships faced by road users.

Besides, Othman stated that while the deregulation of the downstream petroleum sector is commendable, it has introduced a substantial challenge in determining freight rates.

“Despite our operational costs, particularly in forex and diesel,

when international market prices for the product increase.

“I wish to convey that we have brought this matter to the government’s attention through the office of the Chief of Staff to the President, where it is currently under consideration,” he noted.

Reflecting on the past four years, he listed part of the achievements of NARTO as what he termed the "unprecedented review" of transporter's freight rates five times within last four years as well as acquisition of a new office building in Lagos.

According to him, the unprecedented impact of the COVID-19 pandemic also led to loss of revenues and many businesses, over the past four years.

Also speaking, the Group Chief Executive Officer of the NNPCL, Mele Kyari, represented by the Executive Vice President, Downstream, Dapo Segun, lauded NARTO for ensuring undisrupted supply and distribution of products nationwide.

“We can't do that without the

“We see NARTO as very important stakeholders. We feel your pains and we know how difficult the terrain is, especially at this time. So much investment been put in this economy, but people worry about the viability. “ I like to enjoin you to continue to do what you are doing. There are always good times and tough times. Tough times never last, but tough people and associations like NARTO last,” he added.

In his remarks, the General Secretary, Nigeria Labour Congress (NLC), Chris Uyot, stated that Nigeria’s security hasn’t been this porous for a long time, describing it as one of the worst ever.

He said part of the insecurity was fuelled by the removal of subsidy on petrol, floating of the naira, inflation among others, which have further impoverished Nigerians and pushed them to crime.

He argued that as it is, there’s no upper or middle class in Nigeria, stressing that all Nigerians, whether rich or poor is currently suffering.

17

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

CAVERTON BOOSTS CAPACITY… L-R: Graduating Student, Mr. Steve Dzikou Foguem; Cameroon's Honourable Minister of State, Ministry of Higher Education, Professor Jacques Fame Ndongo; Director- General, Cameroon Civil Aviation Authority (CCAA), Mrs. Assoumou Koki; graduating student, Mr. Fred Ulrich Moungon; Cameroon’s Honourable Minister of Transport, Mr. Jean Ernest Ngalle Nobehe, and Chief Executive Officer, Caverton Offshore Support Group (COSG), Mr. Olabode Makanjuola, during presentation of certificates to COSG's sponsored trainees by CCAA in Yaounde, Cameroon…recently

Sanwo-Olu Procures Additional Rolling Stock for Blue, Red Lines from China Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday, said his administration had procured additional rolling stocks for the Blue Line and Red Line rail operations, to bring more relief to millions of Lagos residents.

He said the additional rolling stocks were expected to arrive in Lagos before the end of the year.

The Lagos State team, through its partners, secured an agreement

for the additional rolling stocks for the Blue Line and Red Line rail lines to be ready within a year and delivered before the end of the year as against the normal two-year period it would have taken for the construction company to build the coaches.

Speaking during a meeting of Lagos State Government officials with the President and management of the China

Civil Engineering Construction Corporation (CCECC) at its headquarters in Beijing, China, Sanwo-Olu reiterated his administration’s commitment to the completion of the second phase of the Blue Line rail project and flag-off of the commercial operations of the Red Line rail project.

“We have made requests for additional rolling stocks for Red Line and Blue Line. That conversation is ongoing. We have started making payments and hope that because of our commitment,

we will get those rolling stocks before the end of the year.

“It would improve the journey experience of our people. It would improve citizens' appreciation of what the government is doing to reduce transportation pressure in a big city like Lagos.

“With the new rolling stocks, we will have a more predictable journey time; the commuters and passengers would be more committed and we will see an improvement in the quality of lives and reduction of traffic gridlocks in the city,” the governor said.

Sanwo-Olu was accompanied to the meeting by the Commissioner of Transportation, Mr. Oluwaseun Osiyemi; the Managing Director of Lagos Metropolitan Area Transport Authority (LAMATA), Mrs. Abimbola Akinajo, Chairman of the Lagos State House of Assembly Committee on Transportation, Honourable Temitope Adewale and his Environment parastatals counterpart, Hon Rasheed Shabi and other top government officials, He informed the CCECC team, that his government had promised over 22 million Lagosians that

it would solve the traffic and transportation challenges they currently faced hence the need for the red line to take off without any further delay.

The governor, who expressed satisfaction with the pace of progress of the Red Line project, hinted that the state was ready to inaugurate the Red Line rail for commercial operations as soon as the presidency communicates the availability of President Bola Tinubu, who had agreed in principle to officially commission the project.

Chuks Okocha in Abuja

two key assignments in Nsukka, Enugu State, on Wednesday as significant as they were, got consumed in my chance but emotional encounter with an old friend and University mate now a professor in the institution.

“My mission in Nsukka was for two important events. First, was to visit and assess a dilapidated health center, and second, to campaign for one of the federal legislators, Hon Dennis Agbo, contesting to represent Udenu/Igbo Eze North Federal Constituency in the forthcoming bye-election on Saturday.

"I believe this legislator is committed to the good of his people.

But while in Nsukka, I met one of those brilliant fellows I knew while I was a student at the University of Nigeria, Nsukka, in the 80s.

The fellow graduated with a first class and became a lecturer in the institution.

“When I later visited the University as the then governor of Anambra State, he proudly announced to me that he was already a professor and I rejoiced with him.

“I met him again in Nsukka on Wednesday, but our exchange of pleasantries resulted in very pathetic tales about his general welfare.

“I noticed in his look and mien that all his happiness of being a professor had vanished. He began his story by telling me that he felt like he wasted all his years lecturing."

According to him, his salary as of January 31, 2010, which was 14 years ago, remained the same to date, having reached the pinnacle of his career.

“The only significant difference is that while the money was worth something in 2010, today the same amount is worth nothing.

“The Professor recalled how he was able to buy a Toyota Corolla from his savings, something that is not possible again today. I asked for his salary today, he said about N400,000.

“He broke my heart when he requested that I put in words for him so that Hon Dennis Agbo can appoint him as Special Adviser when he wins. The reason for the bizarre request that shocked me was that

he would earn more and receive more perks as an SA than as Prof.

“Touched by this and applying my finance background, I decided to do some comparative analysis.

“By January 31, 2010, the salary of a Nigerian University Professor was about N400,000. With the then prevalent exchange rate of N150.10 per dollar, the salary amounted to about $2665.

“Fourteen years later, on January 31, 2024, the salary of a University Professor remains about N400,000.

With the prevailing exchange rate of N1,510 per dollar, the same salary now amounts to about $265.

“So after putting in 14 years of hard work, having attained the zenith of his academic career, a Nigerian University Professor now earns 10% of what he earned 14 years ago – this is only possible in Nigeria.

“My campaign, therefore, is to dismantle this criminality and create a functional society where people’s talents, efforts, and sacrifices will match up with their opportunities in life," Obi stressed.

Adelami Sworn in as Ondo Deputy Gov Obi Laments Varsity Teachers’ Sufferings

Fidelis David in Akure

The new Deputy Governor of Ondo State, Mr. Olayide Owolabi Adelami, has been sworn in by the Chief Judge of the State, Justice Olusegun Odusola.

Adelami was sworn in at the International Conference Centre, The Dome, in Akure, the state capital yesterday.

Addressing the gathering during the swearing-in ceremony, Governor Lucky Aiyedatiwa, expressed confidence in the ability of Adelami to contribute meaningfully to the state’s progress.

He described the new deputy governor as a seasoned technocrat, administrator, philanthropist and politician, who had served the nation creditably at various levels, including serving as Deputy Clerk of the National Assembly, before his eventual retirement.

His words: “He is an urbane gentleman, who had paid his dues in the service and development of Ondo State, and the nation at large. I have no doubt that finding himself again in a familiar terrain, he will serve with integrity, devotion, loyalty, and accountability.

“We expect that you will provide fresh ideas and new drive to support this administration in consolidating our legacy projects, building a sustainable socio-economic base as encapsulated in our REDEEMED agenda; and pilot the politics of the state to a higher level of humility, justice and harmony as you serve the citizens.”

While urging him to bear in mind that the administration has zero tolerance for corruption, Aiyedatiwa said, “We expect you to demonstrate transparent, open, and accountable leadership in your new office.

“You must also avoid

discrimination as you have the entire state as your constituency, rather than serving sectional interests."

The governor also highlighted his achievements since his inauguration on December 27, 2023.

"You are well aware that upon my inauguration on 27th of December 2023, we immediately set out to hit the ground running in order to sustain the path of accelerated development bequeathed to us by our late leader and former Governor.

“Within the short span of barely one month of assumption of office, our score card has shown that the people of Ondo State are pleased with our various policies and actions so far.

"Apart from accelerating the preparation of the 2024 Budget of the State, which I signed into law at a time when hopes of its possibility were gloomy, we also flagged off the payment of N1.2billion gratuity to pensioners.

“The salaries of workers are being paid as and when due, even as we have demonstrated commitment to our words by off-setting the 2017 outstanding salary arrears of workers last week. We are very pleased that the workers are happy."

In his acceptance speech, Adelami, appreciated the state governor for the opportunity to serve the state.

“Mr Governor, I hereby wholeheartedly accept to be your Deputy and my loyalty to you will be total. To the good people of Ondo State, I’m here to join hands with Governor Lucky Orimisan Ayedatiwa to serve you and ensure that lives are made more meaningful for you in all facets.

“To our good people of Ondo State, by the Grace of God Almighty who in His Will, arranged this day to come, we will not let you down.

Presidential Candidate of the Labour Party in the 2023 general election, Peter Obi, has lamented the sufferings of some university teachers in the country.

Obi, who had a meeting with a University professor in Nsukka on Wednesday, who was in a pitiable state of his affairs as a University Professor for 14 years, was sad about the development.

The lecturer, who sought Obi’s intervention to land a more lucrative job by serving as special assistant to a federal legislator, left the former presidential hopeful more devastated.

In a statement by his media aide, Obi had gone to Nsukka to campaign for a Labour Party House of Representatives member involved in a court-declared bye-election, when he ran into the professor friend with his pathetic story which mirrored virtually all working class in the nation’s tertiary institutions in the country.

Sharing the touchy story in his X handle platform, Obi wrote: “My

Wike Kicks Off 9km Road Construction in Gwagwalada Olawale Ajimotokan in Abuja The FCT Minister, Mr Nyesom Wike, yesterday, inaugurated the construction and rehabilitation of nine-kilometre Paikon Kore–Ibwa Road in Gwagwalada Area Council of the FCT He said the project designed to promote rural development was part of 30-kilometre roads that would be constructed across the six area councils of the territory.

He assured the residents that President Bola Tinubu’s Renewed Hope Agenda was not mere talk but action.

He stated that two additional roads would be constructed in each of the area councils before the end of the year, to make it three rural roads in area council.

The minister blamed the spate of rural urban migration on lack of roads and other basic amenities needed to make life comfortable.

Wike added that the project would not only address insecurity, but would equally improve access to school and make it possible for farm produce to be evacuated to the market and boost economic activities.

Similarly, the FCT Minister of State, Dr Mariya Mahmoud, pointed out that lack of access roads in communities had stagnated development in rural areas.

Mahmoud said construction of

the rural roads across the six area councils would not only open the rural communities for trade and commerce, but also improve access to market, health care, and education.

“The project is not just about laying down asphalt; it is about connecting communities, improving access, and fostering economic development in our rural areas.

“For too long, the lack of proper road infrastructure has hindered the progress of our rural communities.”

18

T H I S D AY ˾ FRIDAY FEBRUARY 2, 2024

POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

Time is Nigh for Sani to Face Real Governance in Kaduna With the Supreme Court last week affirming the election of Senator Uba Sani as governor of Kaduna state, it’s now time for him to focus on real governance, writes John Shiklam.

W

ith his affirmation by the Supreme Court as duly elected governor of Kaduna state, the time has come for Governor Uba Sani to settle down for

real business.

For the past seven months, governance has been at a low ebb as a result of the distraction by the legal tussle over the out come of the March 18, 2023 governorship election.

With the final pronouncements by the Supreme Court, Kaduna citizens cannot wait to see their governor swing into action to fulfill his promises to them.

In Nigeria, one of the challenges elected officials face is the distraction by prolonged election litigations and uncertainty about its outcome.

The governor himself has been up and doing despite the distractions, but now that he has emerged victorious, more attention will be given to governance.

Sani himself, harped on the need to take Kaduna state to higher level while reacting to his victory.

“The final seal by the Supreme Court, it is time to join hands and take Kaduna state to a higher level”. The governor in a statement shortly after commended the apex court for the “sound judgment.”

He promised to run a people-centered, inclusive and pro-development administration, adding that his door is opened to all stakeholders in the state.

Sani also thanked his opponent Isa Ashiru for embracing the legal process and ventilating his grievances. He assured that any citizen of the state who has something to contribute will be given an opportunity.

“The Supreme Court in a unanimous decision today put a final seal on the mandate freely given to me by the good people of Kaduna state. With the legal disputations over, it is time for us to join hands to take Kaduna state to a higher level,” he said in a statement.

He promised to run a people-centered, inclusive and pro-development administration adding that his door is opened to all stakeholders in the Kaduna Project.

“Any citizen of Kaduna State who has something to contribute will be given an opportunity. It is about the glory of Kaduna State, not personal glory”, the governor said.

According to him, the judgment of the apex court was a confirmation “we were given a mandate to better the lots of our people… “ “With abiding faith in the Almighty God, we shall deliver on the Sustain Agenda and make Kaduna State a model of development in Nigeria”, the governor said.

On its part, the opposition PDP, lamented that it did not get justice because the matter was decided strictly on technicalities rather than the substance of the case.

State Chairman of the PDP, Hassan Hyet, in a statement said, the party is consoled with the fact that it won the three senatorial seats in the state, seven House of Representatives seats and 12 seats in the state House of Assembly.

Hyet thanked supporters of the PDP and appealed to them to accept the outcome of the judgment as the will of God. “Although, we did not get justice at the court owing to the fact that the matter was decided strictly on technicalities and not the substance of the case, we appeal to our teeming supporters to remain calm and accept this outcome as the will of God for us all”, he said.

Hyet said the PDP will continue to work with the people and hold the government accountable in the allocation of resources and projects.

“Having won the presidential election in the state, all three senators from the state, seven members of the House of Representatives, and two others facing a rerun, 12 members of the House of Assembly and two others also facing a rerun, the people of Kaduna State have clearly shown that the PDP remains their party of choice.

“We want to assure everyone of our party’s resolve to continue working with the people in

Ashiru, candidate of the PDP, challenged the election of Sani on the grounds that he did not win majority votes.

The Independent National Electoral Commission (INEC) had declared Sani as the winner of the March 18, 2023, governorship election in the state, having polled 730,001 votes against Ashiru’s 719,196 votes.

Isa and his party, told the tribunal that the governor was not duly elected by a majority of valid votes cast, and that the election was invalid as it was characterised by corrupt practices and noncompliance with provisions of the Electoral Act 2022.

The petitioners also told the tribunal that some polling unit results were allegedly wrongfully cancelled, maintaining that there were inconsistencies in accreditation records from INEC. However, delivering its judgment on September 28, 2023, the tribunal, in a two-to-one split judgement dismissed the petition and upheld Sani’s election victory.

The tribunal headed by Justice Victor Oviawie, in its majority judgment, said the PDP and its candidate did not file their pre-hearing application within the time stipulated by law, and therefore, the petition was deemed abandoned.

The tribunal however, held that if it were to determine the case on its merit, it would have ordered INEC to conduct a supplementary election in 22 polling units in the state within 90 days. holding the government of the state accountable and ensuring equity, justice, and fairness in the allocation of government resources and

projects”, the state PDP chairman said.

The election dispute started at the Governorship Election Petition Tribunal where Isa

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

Tinubu and the Quest to Secure Nigeria’s Natural Resources Temitope Ajayi writes that the inter-ministerial committee recently constituted by President Bola Tinubu to secure the nation’s natural resources has swung into action with series of meetings and consultations already held with critical stakeholders.

F

or many decades, Nigeria’s move towards rapid development and economic growth was impaired by poor revenue despite the country’s abundant natural resources.

The country’s unsavoury economic situation was also compounded by the almost crippling foreign exchange crisis of the last eight years, accentuated by insufficient supply of dollars into the economy.

With demand outstripping supply, the fiscal and monetary authorities have been battling to control the declining value of the naira against the US dollars, which has now hit an all-time low of over N1400 to $1 at the parallel market.

The local currency, at the official window, oscillates against dollar between N800 and N950 depending on demand per time.

While the supply of US dollars has been grossly inadequate, largely because of our import dependency, the increasing demand for the greenback to settle tangible and intangible obligations by businesses; individuals, and the criminal speculation by some Nigerians, continue to exert pressure on the demand side.

The volatility of the foreign exchange market has been a source of serious concern for the current managers of the economy who are being assailed by the citizens to rein in the downward spiral.

Amid this unpalatable situation, questions have been asked why a country like Nigeria endowed with vast natural resources in solid minerals, marine economy, forestry, agriculture, and oil, among others cannot generate enough foreign exchange.

The country is constantly in financial and economic quagmire. In giving answers to the nagging question, many have attributed the decade-long dollar crisis to the monolithic nature of the Nigerian economy that depends, mainly, on oil and gas export to earn foreign exchange.

There are those who also posited that the government should put in place deliberate policy actions to diversify the economy. The

economic diversification argument may be tenuous because the available datasets show that Nigeria’s economy is highly diversified.

In real terms, the non-oil sector driven by telecommunication, financial services (Banking and Insurance), agriculture, trade, construction, real estate and service industry contributed 94.52% to the nation’s Gross Domestic Product in Q3 of year 2023, according to the National Bureau of Statistics (NBS).

In comparison, the oil and gas sector contributed the balance of 5.48%.

While it is apparent from NBS figures that Nigeria’s economy is well diversified, the source of foreign exchange earnings remains yet undiversified. Over 80% of the foreign exchange that comes into the country is from crude oil export, whereas billions of dollars worth of exports in solid minerals, seafood and other forest resources are taken out of the country without record or direct benefit to the Federation Account.

To address the problem of natural resources dissipation, illegal exploitation and sabotage of our national economy, President Tinubu at the last meeting of the Federal Executive Council, set up an inter-ministerial committee to draw up plans to maximise the economic potential of the

country’s natural resources and secure them from those pillaging them. Members of the committee are Minister of Solid Minerals, Dele Alake, Defence Minister, Abubakar Badaru, and Environment Minister, Balarabe Abass Lawal.

Others are Marine and Blue Economy Minister, Adegboyega Oyetola, Interior Minister, Tunji Olubunmi-Ojo, and Minister of State, Police Affairs, Imaan Sulaiman-Ibrahim.

At the moment, Nigeria can boast of solid minerals deposits worth $700 billion according to estimates from the Ministry of Solid Minerals, while the Africa Blue Economy Alliance (ABEA), using information from the Nigerian Maritime Administration and Safety Agency (NIMASA), puts the value of the country’s unexplored blue economy at over $300billion.

Rather than these resources drawing massive foreign exchange earnings into the country, foreigners are carting them away in cahoots with their local enablers through illegal economic activities.

The inter-ministerial committee set up to stem this colossal economic wastage met a forthnight ago to develop framework that will enable our country harness the full benefits of its natural resources. The presidential committee which is chaired by Dele Alake also had an expanded second meeting with Service Chiefs last Thursday, January 25, 2024.

Giving highlights of the expanded meeting, Alake emphasized that the committee’s engagement with the Service Chiefs across all security outfits and Office of the National Security Adviser (ONSA) was a follow-up to the maiden meeting of the Ministers to get inputs for developing a workable strategy to effectively secure Nigeria’s natural resources, in line with the Presidential mandate.

-Ajayi is Senior Special Assistant to President on Media and Publicity NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

19

T H I S D AY ˾ FRIDAY FEBRUARY 2, 2024

POLITICS

Situating Kwara Politics after Gov AbdulRazak An Empowerment Catalyst, Kelly Azuike, at 70 Chido Nwangwu pays tribute to Nigerian-born pharmacist and empowerment catalyst, Sir Kelly Azuike, who recently marked his 70th birthday in Houston, the United States.

F

or many persons, at different times and circumstances, in Nigeria and in the diaspora, Sir Kelechi ‘Kelly’ Azuike, has been and remains an empowerment catalyst, a source of inspiration, a fountain of reasonable mentorship, a supportive sibling to his folks, a reliable friend….

Practically, he is all those things and more.

Above all those, he cherishes his faith, his blessed family and his heritage!

I have known him since 1986, and closer over the past 28 years.

Socially, I have observed that Sir Kelly has the engaging mannerisms of a gentle giant, the savvy skills of a successful businessman and the consummate deliberateness of a power player.

There is no doubt that the diversity and scale of his relationships are wide and run deep. Accordingly, the Azuike family invited such friends and well-wishers to the upscale Hotel Derek in the Houston galleria for the December 16, 2023 event regarding the 70th birthday (December 23, 2023) in deserving honor of the man and what he represents.

It was a worthy gathering of familiar folks, heavy hitters, new generation of the Azuikes and a number of grand-children.

Understandably, this man’s blessed journey of life and humble beginnings hold very valuable life lessons for so many people!

First, to his beautiful, gracefilled and affable wife, Mary Ebehi Azuike (nee Ibazebo), he’s a very good husband, a very good father.

He inspires and uplifts people around him and is a reliable source of support for many. They’ve been married for almost 44 years.

One of the most memorable aspects of the birthday event on December 16, 2023, was the walk back into the memory banks of history by his bosom friend, Mazi Steve Ndukwe who recalled almost 50 years of their friendship.

Ndukwe, a mechanical engineer, recalled vividly how a polite verbal invitation to Kelly to rest, sleep and freshen up at Steve’s very modest apartment in Lagos rather than wait in the open-air

before Kelly’s drivers picked up cars for Kelly’s older brother ’s R.T Briscoe’s dealership in Aba led a very young Kelly to casually say to him: “Brother Steve, we will all be proceeding to America to further our education…” Steve said “I did not have the resources to embark on such a journey, yet he inspired me to explore the opportunity.

He secured his own passport, he assisted me to get mine. After obtaining his approval from the Student Advisory Committee to proceed abroad, he assisted me in obtaining a similar letter from the Committee!” .

Sir Kelly was born in 1953 in Southeastern Nigeria. He attended Saint Michael’s Elementary School, and Ngwa High School — both in Aba. Noting that in 1974, he left for the Western Illinois University in Macomb, Illinois, in the United States, transferred to Texas Southern University (Houston) in 1975, and graduated from the TSU Pharmacy School in 1979.

“I met my wife Mary in the great city of Aba (in the current Abia State of Nigeria) in 1971. We had our church wedding in 1980 in Houston, Texas at the Palmas Episcopal Church.”

They are blessed with four children who are adults living their lives. Their son, Acho, holds an MBA from Rice University; Chidinma is a Pharmacist with a Doctor of Pharmacy degree. Ugochi and Uchechi are physicians.

He recalls “I worked in Illinois as a pharmacist before setting up my oil and gas business in 1982. Also, I served on the board of Imo State Modern Poultry in Avutu.

Later, I was appointed Chairman of the Imo State University Teaching Hospital.

I have also served as an appointed member of the Imo State Land Use Allocation Committee. I have served on the boards of some oil and gas corporations.

After working so hard, and contributing to the development of Imo State and my community, I am presently retired.“ On his role models: “I remember my big brother, Chief Dennis Azuike, who raised me as his son when my father died. It was from him that I learned the art of giving, and sharing, which has become a significant part of my life to this day.”

Significantly, Kelly told me that his life lessons at 70 include these: “With God, all things are possible! You need to have integrity be a man of your word. Be hardworking, be compassionate, and always remember it’s not always about you. Sometimes, you have to put others before yourself.”

-Dr Nwangwu, Founder of the first African-owned, U.S-based newspaper on the internet, USAfricaonline.com; established USAfrica multimedia networks in 1993.

Follow him on X (Twitter) @ Chido247

Wahab Oba writes about the need for all critical political stakeholders in Kwara state to form a united front ahead of the 2027 General election in the state.

A

llegations of widespread profligacy in the administration of Governor Abdulrazaq Abdulrahman have gained momentum with an open letter penned by a prominent member of his party, Hon Mashood Mustapha, who now prides himself on leading the “revolution and struggle for the emancipation of Kwara state between 2018 and the election of 2019”, on the renovation of one of our common heritage in Kwara state, the Kwara Hotel.

Hon Mustapha’s letter, expectedly, has been trending in the media, just like the critical documents on the controversial renovation that are also in media space courtesy of a non-profit and non-political organization, Elite Network for Sustainable Development, ENetSuD. On this matter, neither Hon Mustapha nor ENetSuD should be taken lightly. The former was once a member of the State Executive Council, a federal legislator, and a governorship aspirant in the last general elections, while the latter once had a working MoU with the State government on social audits of government affairs.

Hon Mustapha’s outburst, no doubt, again, confirmed what his co-travelers in the APC started to complain about, first in whispers and later openly, soon after Abdulrazaq assumed office as the governor of Kwara State.

Can we forget the open lamentation of former Minister of Information, Alhaji Lai Mohammed, or the cries of Akogun Iyiola Oyedepo that the AA in office was not the AA they envisaged when they gave him their backing despite the alleged manipulations that heralded his emergence as governorship candidate of their party-APC? The meat of Mustapha’s letter which must be of interest to all concerned Kwarans, irrespective of political leanings, is that the estimated N17.8 billion for renovating the 172-room hotel is far above the N5billion maximum that he discussed with the governor.

ENetSuD has availed the public of a valuation of the hotel by a reputable real estate agent engaged by the government, and that valuation puts the worth of the hotel in figures around what Hon Mustapha mentioned.

And while the make-up of a hotel may be different from that of an office complex, should we not be concerned as Kwarans still, that this same administration is building a completely new 11-story office complex for KWIRS at the cost put around N20 billion.

It is completely a new building.

And have we also forgotten so soon that an International Conference Center with a five-star hotel is also being built for N13.5 billion in the same Ahmadu Bello Way, Ilorin?

What Hon Mustapha and EnetSuD did not mention in the Kwara Hotel palava is the issue of transparency and accountability in the award of the contract as well as how it was re-awarded to Craneburg.

What qualifies Craneburg for three major contracts in the state above others? What is the capacity and competence of Craneburg Company?

There is possibly more to it than meets the eye.

While we are at it, should we also

remember that this administration of governor AA had once told us openly that it ‘invested’ N17.9 billion of Kwara money in a bank?

That would have been a good move until you hear that the money was part of a bond and we don’t know which bank it is sitting in to date.

Bonds are taken to execute specific projects, but we seem in the current dispensation of Kwara to take a bond to deposit in the bank amid acute infrastructural deficit and threatening youth employment while we also continue to pay heavy service costs unnecessarily.

Obviously, it is the same ‘ingenuity’ that surrounds the construction of the Tanke flyover. In my last intervention, I tagged that project ‘the bridge of controversy’. In reality, that is what it is. Fortunately, every stakeholder, technical and professional about that bridge, agrees that something is wrong with the work, both in its cost and its construction.

Every stakeholder, except those who are benefiting from the current arrangement or those who don’t want to ‘rock the boat’ maybe in anticipation of their benefits or out of fear as to what an angry government can do to them when they speak out openly against its errors, has one reservation or another about the Tanke bridge.

If AA cares, he would have taken time to speak with Kwarans about why he prefers to spend N17.8 billion on a hotel in Ilorin rather than invest heavily in the agricultural business where we have a reasonable comparative advantage above other surrounding states.

This then is a major reason for everyone interested in the future of Kwara to join hands and ensure that this man does not impose his stooge on the state come 2027. That would probably be his major scheming now.

Those politicians in the APC who have seen how things turned out when they obliged an error, must be ready to work with others in the PDP, LP, NNPP, and other parties to stop the possible emergence of another AA, or a governor who will be there merely to protect a proper probe of the current administration.

We must be ready to bury our pride and sink our hatchet. We must be ready to look at our wounds and see only the scar but not the pain. We must be ready to open the doors of our hearts to a new arrangement that welcomes everyone to make Kwara a better place for all of us.

-Oba writes from Ilorin, Kwara State.

20

1

FRIDAY FEBRUARY 2, 2024 TR

UT H

& RE A S O

Friday February 2, 2024 Vol 27. No 10521

N

opinion@thisdaylive.com

www.thisdaylive.com

TINUBU, SUPER EAGLES AND THE BURDEN OF A NATION A Super Eagles win will offer some relief.

But the administration must do more to stem the suffering in the land, writes JOSUA J. OMOJUWA

See page 25

TALES OF THE UNUSUAL

JOSEF OMOROTIONMWAN relives some tit-bits from the Second Republic National Assembly

See page 25 EDITORIAL

INEC AND THE OFFCYCLE ELECTIONS

2)) &<&/( (/(&7,216

26

The multi-party democracy practised in Nigeria today has no viable alternatives, writes MONDAY PHILIPS EKPE

BEFORE ONE-PARTY SYSTEM IS POPULARISED The National Chairman of the All Progressives Congress (APC), Dr Abdullahi Ganduje, is a very interesting man. A chunk of his political career is generally attributed to the benefaction of the Presidential Candidate of the New Nigeria People’s Party (NNPP) in the last general election and a former two-term Governor of Kano State, Dr Rabiu Musa Kwankwaso. Kwankwaso who is arguably a more influential leader in Kano State practically moved Ganduje up the political ladder until the latter gained enough weight to become governor. And, then, the mentee began to make efforts to turn the tide. For some time now, the war between the mentor and his protegee has been in the open. The recent Supreme Court judgment that confirmed NNPP’s Abba Kabir Yusuf as governor at the expense of APC’s Nasiru Gawuna has somehow reinforced Kwankwaso’s superiority in the scheme of things.

Ganduje had worked assiduously towards ensuring victory for his party’s candidate in the hope of owning the momentum of the political dynamics of the state. That would have been a masterstroke indeed and it would also have conferred a higher status on him above his rival, at least for now. But the apex court’s ruling means that even leading the party in government at the centre has its own limits. For someone blessed with an agile imagination, Ganduje can be expected to pull strings at any time. And he tried to do so last week with a public appeal to Yusuf, Kwankwaso, another ex-Governor of the state, Senator Ibrahim Shakarau, and other opposition figures to join the party he heads and make Kano a one-party state.

The APC helmsman explained the benefits of his proposal thus: “We are calling on him (Yusuf) with a loud voice and have created an enabling environment for the governor of Kano State and his party to come and join the APC so that we make a solid and large followership. We are the highest populated state in the country; let us make use of our population to our benefit and create a large followership in Nigeria. The votes of Kano State are very critical for anyone that wants to become the president of the country. We should utilise that potential to decide who our president will be in the future. We work day and night to visualise Kano as a one-party state. If Kano is converted to a one-party state it means we can decide for Nigeria and its leadership. This will be in favour of the state and the party. Leave the NNPP, and come and join the APC. All the other parties should come and join the APC and make Kano a one-party state.” Ganduje also didn’t miss that opportunity to tell his audience that Kano stood to gain from federal government’s plans to run gas pipelines, railway and road networks from Abuja through Kaduna to Kano. The password would be to dump other parties and dissolve into APC. So much for ingenuity.

Not surprisingly, Ganduje’s critics went to town immediately but his aide on public enlightenment, Chief Oliver Okpala, promptly rose up in defence of his principal: “This is the first time the chairman of

a ruling political party in the country has exhibited such maturity, taking such approach and calling for a united front. It is a call to avoid bitterness and rancour. It is a call for politicians to work together as Nigerians and to see each other as brothers and sisters. From his comment it is important that the intention of his call should not be misconstrued. It should be seen as what it is, an invitation from a mature politician without guile, aimed at building the much-needed synergy that Nigeria needs to surmount its multifaceted challenges.”

This attempt at clarifying Ganduje’s explicit call to abandon opposition and file a single line behind federal power makes a suggestion, albeit unwittingly, about the sort of democracy in operation in Nigeria today. Forming a “united front” against who, in whose interest and for what? Not to mention the manner of unity that exists within Ganduje’s APC. If states must be in the same party as the government domiciled in Aso Rock in order to access the goodies therein, then multiplicity which is a critical feature of any democracy worth the name will suffer. Who benefits from that type of arrangement, if not the lucky few? So, the real test of Okpala’s boss’ maturity is for him to patiently watch the political players in his home state engage the people in terms of the promises made and the ones kept or unkept. And for him to show that he believes the famed sophistication of Kano people and their ability to decide the fate of their leaders and platforms. Anything short of that would be tantamount to arrogance, usurpation, opportunism and predatory tendencies.

If the parties have distinctive ideologies that drive the manifestoes and operations, they’re hardly known to the populace. This hazy situation has now produced parties which, in truth, are vehicles, omnibuses and associations that merely convey their passengers to power hunting expeditions

Those attributes are in abundance in Nigeria’s 21st Century politics, unfortunately. The overriding reason most Nigerians, especially those aspiring for offices, join political parties is that there are no other avenues to actualise their dreams. The constitution is unequivocal on this. If at all the parties have distinctive ideologies that drive the manifestoes and operations, they’re hardly known to the populace.

Let alone expecting them to have any meaningful impact on the longsuffering citizenry. This hazy situation has now produced parties which, in truth, are vehicles, omnibuses and associations that merely convey their passengers to power hunting expeditions. This is the predominant picture of the nation’s current democratic experience, sadly.

It was from that mindset that Ganduje spoke at that Kano stakeholders’ summit. To be fair to him, he is not the first person of his stature to voice such imperial sentiments. Sixteen years ago, the then National Chairman of the People’s Democratic Party (PDP), late Chief Vincent Ogbulafor, boasted that his party would keep national power for 60 years. Unless drastic and sincere soul-searching takes place among our politicians, the country may have confined its glorious politicking to the past. This conclusion isn’t simplistic or merely nostalgic. Yes, previous dispensations did manifest their own structural and attitudinal impurities but the magnitude of the present popular discontent and disillusionment towards the political class is unprecedented.

Understandably so. There’s a visible drift from the politics of performance anchored on people’s interest to that of desperate self-aggrandisement. In this fouled environment, any wish to pull political gladiators under one roof is a move towards subversion. For us to surrender our political destiny to groups that constantly demonstrate thin regard for internal transparency and cohesion would be tragic.

To be clear, it isn’t that other parties are completely absent in most one-party countries.

They are, however, apparently at the mercy of that one all-powerful party that is programmed to clinch a disproportionate number of positions at all tiers of government. The designers of the Nigerian constitution obviously considered the nation’s political journey and its complexities before arriving at the multi-party option. It’s bad that the various parties haven’t lived up to the core of their statutory roles. But taking the quickest route into the dictatorship of one or few lord(s) would be more disastrous.

Nigeria hasn’t come this far in its chequered political history to flirt with any system that stifles opposing views. A culture that involves only one strong or sole party which runs the government can be expected to churn out unilateral decisions that are, in many cases, detrimental to the freedoms and potential progress fought for by our heroes right from the precolonial times.

Dr Ekpe is a member of THISDAY Editorial Board

T H I S D AY

FRIDAY FEBRUARY 2, 2024

21

A Super Eagles win will offer some relief. But the administration must do more to stem the suffering in the land, writes JOSUA J. OMOJUWA

TINUBU, SUPER EAGLES AND THE BURDEN OF A NATION When power is transferred from one government to another, the people’s hope rises in expectation. Every failing of government after such a transfer becomes more apparent than they looked before the change of government. Because disappointment is a function of expectation — expectations are higher with a new government — and so far, with reforms biting hard, the people need a win from somewhere. Like La Albiceleste did for a beleaguered Argentine people in 2022,

the Super Eagles hold such a burden for Nigerians.

Nigeria will be up against Angola later today as we contest for a right to play in the semi-final of the 2023 African Cup of Nations (AFCON 2023).

Whilst this looks like a game we should not lose sleep over, it is far from a foregone conclusion.

There are many reasons why the Super Eagles must approach it like they would against one of our traditional rivals like Ghana and Cameroon.

Until the former in 2022, Angola were the sole reason Nigeria did not achieve consecutive FIFA World Cup appearances from 1994 to date. They denied Nigeria the ticket to the 2006 World Cup in Germany. We had finished on the same number of points, we even had a better goal difference, but in a qualification series where the head-to-head rule came into play, Angola had the better record in both games we played against each other, so they beat us to the ticket. That qualification series was meant to be a walk in the park until we got walked out of the World Cup by a then unheralded team.

The Angola we will be playing today is also battle-tested. They topped their group with 7 points and have since followed that performance with a 3-nil thrashing of Namibia in the round of 16. They have 9 goals to their name against the 5 we have so far scored. Apart from this, AFCON 2023 has been a tough ordeal for the traditional giants of African football. On one side, all the teams that made it to the quarterfinal of the last tournament did not make it this time. That must be a record somehow for a tournament at this level. Add that to the fact that some of the best ranked teams in Africa have been sent home. The likes of Ghana and Algeria did not even make it past the group stage whilst Morocco’s World Cup 2022 stars were sent packing by South Africa.

Egypt, the most successful AFCON team, met their waterloo in the hands of DR Congo. At this tournament, pedigree has not counted for much.

The Super Eagles have shown, again, that

Nigeria knows how to play AFCON. Despite consecutive lacklustre results against Lesotho, Zimbabwe and Guinea before the tournament, Nigerians are being served a different team by the Super Eagles. Jose Peseiro’s team went from a team few people — like myself — expected anything from, to one where several people are whispering about the possibilities of a 4th AFCON win. Some bookmakers are on board.

I wonder if the Super Eagles understand the depth of how much expectations the Nigerian people now have on them. Nigerians are desperate for light. In the early days of the Tinubu administration, despite the challenges, the president’s speeches served as a source of hope and belief in what was to come. Rising costs and the threat of insecurity have since left the nation on the edge. Add that to the fact that, the residual anger of those that refuse to lose the election continues to add fuel to what really is a fire that needed no motivation.

Nigerians need their hope sparked. It probably can be said for 2013 and 1994 too, however, we have never needed to win a competition as much as we need this. Football continues to remain a unifying factor, even as the politics of the 2023 elections has managed to spot a weak spot in that unification, with a group of people queuing against Nigeria in a banter over the resounding defeat of Cameroon. Still, football unites this country like never before. We may even argue during the games, you’d be hard pressed to find a Nigerian who does not want the Super Eagles to win. If you find one, be wary.

However, we cannot ask more of our footballers than we should of our leaders. We’d still need the authorities to address the insecurity and find immediate and remote solutions to rising inflation and unemployment.

Nigerians trusted President Tinubu with a mandate that was hotly contested. The president must continue to centre the interest of the people above everything else. That also means he must look at those he has hired to help deliver the fruits of the Renewed Hope. That way, the people do not end up hoping in vain.

Most people come to power wanting to make lasting change happen. The people who are trusted with power and are not immediately considering their legacy are the outliers. However, power is a cascading force of distraction. Without commitment to a design, it takes you away. It is a prison that cuddles and ensconces one in a comfortable bubble. You start out wanting to create a legacy, power takes control, and you are soon carried away by a force that does not permit you any room for reflection until you are staring at your exit. Then, you start to wonder what might been.

I have no doubt that Mr President means well.

He is working for a legacy. He cares for his place in history beyond having his name tag queued alongside the rest of the privileged class that led Nigeria. He must stay awake to his promises though. That bit will not happen by default. This is exactly why Marcus Aurelius had his reality moderated by a constant whisper of reality into his ears. I wonder, who’s got that mandate in Aso Rock? There, it is the most important calling, apart from being president.

Omojuwa is chief strategist, Alpha Reach/ author. Digital Wealth Book

JOSEF OMOROTIONMWAN relives some tit-bits from the Second Republic National Assembly

TALES OF THE UNUSUAL At the inception of the National Assembly believed them, particularly against the in the Second Republic in 1979, this writer backdrop of numerous previous promises was a CAT – not the m-e-w crying type, in that were broken. Not many. onomatopoeia, though, but a Clerk-At-Table in Consequently, when the whistle blew in the House of Representatives.

1979, most of Nigeria’s best did not show We, the CATs of both chambers, formed interest. In the end, what we had was an ourselves into a loose association for the assemblage of largely uneducated and purpose of entertaining ourselves with the uninformed men and women. strange happenings in our Houses. We met Hon. PDA was a very successful virtually every day. herdsman up in the Sahara in 1979. He 7KH ÀUVW LWHP RQ RXU 2UGHU 3DSHU ZDV WR contested the election to the House of x-ray the grammatical errors committed by Representatives and won. By allocation too, HDFK 3UHVLGLQJ 2΀FHU LQ WKH FRXUVH RI WKH GD\·V he became a committee chairman. He was proceedings. Here, the undisputed heavyweight full of himself. champion of all time was the President of the PDA had a report to present to the House.

Senate, Senator Joseph Wayas (1941- 2021). He was sure that the report was a prize Wayas was a gentleman to the core. He blew the winner. At the end of the report, he wrote, English grammar without respect to syntax and “Mr. Speaker and Honourable Members, I its numerous rules. He was most entertaining. thank you for your standing ovulation”.

Wayas was a brave man. The issue of what THE OVERSEAS TRIPS. They were R΀FLDO FDUV OHJLVODWRUV VKRXOG KDYH LV DOPRVW something else. When we arrived New York, as old as time. The Second Republic inherited we went on a shopping spree. Rather than the obnoxious policy of LOW PROFILE, which take them to Fifth Avenue and other high WKH PLOLWDU\ K\SRFULWLFDOO\ LQVWLWXWHG LQ LWV ÀQDO brow areas, we headed for the Delancey/ 14th Street area, where they could buy a lot without spending a bundle.

The following morning, we dressed up to JR IRU RXU ÀUVW DVVLJQPHQW 7KH &RPPLWWHH Chairman wore his new suit and left the price tags on. In fact, he knotted his tie inside-out, so as to expose the price tag properly.

All entreaties to get him to remove the price tags failed. He quipped rather glibly, “How else will they know that the things are expensive”.

These were the types of people we were charged with managing; and it was not easy.

GD\V 8QGHU WKLV SROLF\ JRYHUQPHQW R΀FLDOV And these were not the types of things that ZHUH RQO\ HQWLWOHG WR 3HXJHRW DV R΀FLDO FDUV would appear on a committee report. So, At that time, there were hundreds of various they remained buried and never seen. All designs of Mercedez Benz cars in the pool. They we could do was to keep recommending could not be used because of the obnoxious the need for short orientation for future policy. So bad was the policy that when there legislators. Unfortunately, what looks like was a visiting Head of State or Government an orientation for members after their from a 4th world country, he could be driven inauguration, ends up as a mere jamboree in a Mercedez Benz car, while President Shehu that never addresses any of the seemingly Shagari, the Senate President and the Speaker of small but very important issues. the House of Representatives would follow in “IS IT BECAUSE THEY NOW CALL ME their 504 cars. It was also clear that the military SPEAKER”?

R΀FHUV ZKR LQVWLWXWHG WKH SROLF\ OLYHG LQ Chief Edwin Ume-Ezeoke (1935 – 2011) splendour with many Mercedez Benz and other was thoroughly a gentleman in every utility cars to match the colour of whatever respect. He was humble, perhaps to a dress they wore on any occasion. fault. We were part of his delegation to :D\DV PXVW KDYH VKRZQ VX΀FLHQW GLVJXVW a two-day conference of Speakers of the to that policy internally, but nobody listened. Commonwealth Parliamentary Association He adopted the bravado style. One fateful holding in Ottawa, Canada. From there, we DIWHUQRRQ KH ZHQW WR WKH 2΀FLDO &DU 3DUN RI were bound for Brazil. the federal government with enough drivers 8PH (]HRNH KDG ÀQLVKHG KLV DVVLJQPHQW and as he was pointing at cars, those drivers DW WKH 2WWDZD FRQIHUHQFH RQ WKH ÀUVW GD\ were under strict instructions to drive them to and the rest of the conference was going the National Assembly. to be thoroughly boring. He now decided At the end of the exercise, all the Principal that we should return to New York enroute 2΀FHUV RI WKH 1DWLRQDO $VVHPEO\ KDG Brazil.

0HUFHGH] %HQ] FDUV DV R΀FLDO FDUV 7KDW ZDV WKH On arrival in New York, I contacted the end of that obnoxious policy - also for President DLUOLQH DQG WULHG WR ÀQG RXW WKH SUREDELOLW\ Shagari. of our leaving for Rio de Janeiro that [ENTER HON. PDA] “Thank you for your evening. The airline told me that they had standing ovulation”. The National Assembly only Economy Class seats remaining, and has come a long way – from a little above zero there were no First-Class seats anymore. I percent on the educational scale of its members asked them to forget the idea, as the Speaker in 1979, to the present assemblage of men and FRXOG QRW Á\ (FRQRP\ , ZHQW EDFN WR WKH women who can stand tall before their peers hotel and informed the Speaker what I had anywhere in the world. We salute them. concluded with the airline.

We do not blame anyone. In 1979, the military said they were returning to the barracks after 13 Omorotionmwan long years of occupation of government. Who writes from Canada

22

T H I S D AY

FRIDAY FEBRUARY 2, 2024

EDITORIAL

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

INEC AND THE OFF-CYCLE ELECTIONS It’s another opportunity for the electoral body to improve on its performance

O

Ϳ F\FOH HOHFWLRQ DQ HQWLUHO\ 1LJHULDQ SKHQRPHQRQ ZKLFK FDPH LQWR EHLQJ LQ LV LQFUHDVLQJO\ EHLQJ LQJUDLQHG LQ WKH V\VWHP 7KH &RQVWLWXWLRQ DV DPHQGHG VDQFWLRQV LW 0RVW RI WKHVH HOHFWLRQV DULVH SULPDULO\ IURP FRXUW UXOLQJV ZKLFK RYHUWXUQ HOHFWLRQ UHVXOWV 6RPH DOVR RFFXU ZKHQ WKH LQFXPEHQW R΀FH KROGHU GLHV RU UHVLJQV 7KH ODWWHU KDV EHFRPH UDPSDQW ZLWK SHRSOH HOHFWHG WR WKH OHJLVODWXUH HLWKHU DW WKH IHGHUDO RU LQ WKH VWDWHV DFFHSWLQJ FDELQHW SRVLWLRQV ZLWKLQ WKH H[HFXWLYH 8QIRUWXQDWHO\ WKHVH HOHFWLRQV DUH RIWHQ PDUUHG E\ FRQWURYHUVLHV LVVXHV RI ORZ YRWHU WXUQRXW DQG LQWHJULW\ ZKLFK DͿHFW HͿHFWLYH JRYHUQDQFH DQG UHSUHVHQWDWLRQ 7RPRUURZ DFURVV WKH FRXQWU\ WKH ,QGHSHQGHQW 1DWLRQDO (OHFWRUDO &RPPLVVLRQ ,1(& ZLOO FRQGXFW HOHFWLRQV WR À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

2)) &<&/( (/(&7,216

EXW DOVR WR ÀQH WXQH WKH SURFHVVHV ZLWK D YLHZ WR HOLPLQDWLQJ WKH JHQHUDO HOHFWLRQ ODSVHV $Q HͿHFWLYH SODQQLQJ HYHQ XS WR WKH PLQXWHVW GHWDLOV LQ WHUPV RI ORJLVWLFV VHFXULW\ DGURLWQHVV RI ,1(& SHUVRQQHO HWF PXVW EH ZRUNHG RXW ZLWK H΀FLHQF\ /LNH WKH JHQHUDO HOHFWLRQV PXFK PRUH QHHGV WR EH GRQH WR FOHDQVH WKH WDLQWV LQ WKH RͿ VHDVRQ HOHFWRUDO V\VWHP 7KHVH HOHFWLRQV HPERG\ 1LJHULD·V RQJRLQJ TXHVW IRU UREXVW JRYHUQDQFH +RZHYHU DW D PHHWLQJ RI WKH ,QWHU $JHQF\ &RQVXOWDWLYH &RPPLWWHH RQ (OHFWLRQ 6HFXULW\ ODVW ZHHN <DNXEX VDLG ZLWKRXW D VHFXUH DQG SHDFHIXO HQYLURQPHQW WKH FRQGXFW RI FUHGLEOH HOHFWLRQV ZRXOG EH LPSHULOHG ´$V \RX DUH DOO DZDUH WKH HOHFWLRQ LV D PXOWL VWDNHKROGHU UHVSRQVLELOLW\ ,1(& KDV D UROH WR SOD\ DQG VR WRR DUH RWKHU VWDNHKROGHUV µ <DNXEX WROG KLV DXGLHQFH ´$V VHFXULW\ DJHQFLHV LW LV \RXU UHVSRQVLELOLW\ WR VHFXUH WKH HQYLURQPHQW WR HQDEOH XV WR GHSOR\ SHUVRQQHO DQG PDWHULDOV WKH SURWHFWLRQ RI REVHUYHUV WKH PHGLD DV ZHOO DV WKH SROOLQJ DQG FROODWLRQ DJHQWV UHSUHVHQWLQJ WKH SROLWLFDO SDUWLHV DQG FDQGLGDWHV µ 7KH ,1(& &KDLUPDQ DGGHG ´)URP H[SHULHQFH FRQGXFWLQJ LVRODWHG HOHFWLRQV VXFK DV E\ HOHFWLRQV DQG UH UXQV FDQ EH YHU\ FKDOOHQJLQJ :H PXVW SD\ DWWHQWLRQ WR WKH SRWHQWLDO IRU GLVUXSWLYH EHKDYLRXU E\ VRPH FDQGLGDWHV DQG WKHLU VXSSRUWHUV µ *LYHQ WKH GHVSHUDWLRQ WKDW DWWHQGV HYHU\ HOHFWLRQ LQ 1LJHULD DOOXGHG WR E\ <DNXEX SHUWLQHQW TXHVWLRQV UHPDLQ :KDW LV WKH FDXVH RI WKLV H[WUHPH DJJUHVVLRQ LQ RXU SROLWLFV" :KDW·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΀FH KROGHUV PXVW EH SUXQHG GUDVWLFDOO\ WR H[SHFW WKH PXFK GHVLUHG FKDQJH

The struggles during elections in our polity are vicious and bloody because the stakes are very high

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor 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 CBN AND ALI NDUME’S OUTBURST )RU WKH SXUSRVH RI RSHUDWLRQDO H΀FLHQF\ DQG SHUKDSV IRU VZLIW QHVV LQ VHUYLFH GHOLYHU\ DQG XOWLPDWHO\ LQFUHDVHG SURGXFWLYLW\ WKH IHGHUDO JRYHUQPHQW UHFHQWO\ DQQRXQFHG WKH UHORFDWLRQ RI )HGHUDO $LUSRUWV $XWKRULW\ RI 1LJHULD )$$1 WR /DJRV D VWUDWHJLF PRYH PHDQW IRU WKH $JHQF\ WR EH FORVHU WR +HDG 2΀FHV RI $LUOLQHV WKH\ VXSHUYLVH VRPH RI ZKLFK DUH LQ /DJRV 7KH VDPH JRHV IRU &%1 DXWKRULW\ WKDW KDYH RUGHUHG WR PRYH WR /DJRV UHOHYDQW GHSDUWPHQWV WKDW GLUHFWO\ VXSHUYLVH WKH DͿDLUV RI FRPPHUFLDO EDQNV PRVW RI ZKLFK +HDG 2΀FHV DUH DOVR ORFDWHG LQ /DJRV 2UGLQDULO\ LQ D GHFHQW FOLPH DQG RUJDQL]HG VHWWLQJ ZKHUH NH\ JRYHUQPHQW SROLFLHV JR WKURXJK FUXFLEOH RI GHFLVLRQ PDNLQJ SUR FHVV DQG DV ZHOO DV VXEMHFW RI SURSHU GHOLEHUDWLRQV WKRVH UHORFDWHG R΀FHV KDYH QR EXVLQHVV LQ )&7 $EXMD LQ WKH ÀUVW SODFH 7KHLU SUHVHQFH KDYH EHHQ PRUH RI MDPERUHH D GLVWUDFWLRQ YHU\ XQQHFHVVDU\ DQG ODUJHO\ D ZDVWH RI WKH QDWLRQ·V KDUG HDUQHG UH VRXUFHV DV ZHOO DV GUDLQ RQ WKH QDWLRQ WUHDVXU\ 7KH JRYHUQPHQW SURQRXQFHPHQW RI UHORFDWLRQ LV WKHUHIRUH D PRYH H[SHFWHG WR DWWUDFW DSSODXVH DQG FRPPHQGDWLRQ IURP DOO DQG VXQGU\ SDUWLFXODUO\ WKH EXVLQHVV HQWLWLHV GLUHFWO\ FRQFHUQHG IRU WKH GHFLVLRQ·V SRWHQWLDO FRVW VDYLQJV PHDVXUHV DV ZHOO DV DGPLQLVWUD WLYH FRQYHQLHQFH

,W·V DOVR LQVWUXFWLYH WR QRWH WKDW LQ WKLV YHU\ GL΀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Ϳ VRPH EXUGHQ RI DFFRPPRGDWLQJ SXEOLF EXLOGLQJV IURP 1HZ <RUN &LW\ 7KH VDPH SUHVHQWO\ SOD\V RXW LQ %UD]LO ZKHUH 5LR 'H -DQHLUR DQG %UDVLOLD DUH FROODERUDWLQJ LQ DFFRPPRGDWLQJ SXEOLF ,QVWLWXWLRQV 'LWWR IRU *HUPDQ\ ZKHUH %HUOLQ LV UHGXFLQJ WKH EXUGHQ RI DFFRPPRGDWLQJ SXEOLF ,QVWLWXWLRQV IURP %RQQ WKH IHG HUDO FDSLWDO $QG RI FRXUVH WKH VLWXDWLRQ LV QRW GLͿHUHQW LQ )UDQFH ZKHUH KLJKO\ FRQJHVWHG 3DULV LV VKHGGLQJ ORDGV RI SXEOLF LQVWLWX WLRQV ORFDWLRQ WR 0DUVHLOOH 6R ZK\ VKRXOG 1LJHULD V\VWHP EH SUREOHPDWLF DQG FRQWHQWLRXV" :KLOH JRYHUQPHQW LV FRQWLQXDOO\ PDNLQJ VSLULWHG HͿRUWV WR UHSRVL

WLRQ DQG UHVWUXFWXUH WKH FRXQWU\ LQ DOO IDFHWV VRPH 1LJHULDQV VDG O\ DQG PRVW HPEDUUDVVLQJO\ DW WKH WRS HFKHORQ KDYH LQGLYLGXDOO\ DQG MRLQWO\ UHVROYHG WR FRQVWLWXWH D FRJ LQ WKH ZKHHO RI WKH FRXQWU\·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ͿDLUV RI WKH FRPPHUFLDO EDQNV $QG ZKDW FRQVHTXHQFH LV 1GXPH WDONLQJ DERXW"" :KDW·V WKH SUHVLGHQW RͿHQFH" :KHUH KDV WKH SUHVLGHQW HUUHG" 7KHVH DUH WKH TXHVWLRQV 1L JHULDQV VKRXOG DVN $OL 1GXPH DQG KLV LON Kola Amzat (FCA, FCIB), Lagos

T H I S D AY ˾ FRIDAY, FEBRUARY 2, 2024

23

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

F E B R U A R Y

S & P INDEX

1 , 2 0 2 4

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT MONDAY, JULY 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

AfDB: Over $70bn Mobilised to Unleash Africa’s Food Production Potentials

Gilbert Ekugbe The African Development Bank (AfDB) has stated that following its Dakar 2 Food summit, it has been able to mobilise over $70 billion in an unprecedented global effort to boost food production in Africa.

The Africa Food Systems Summit 2023, hosted by the multilateral agency which took place in Dar es Salam, saw African leaders pledge their commitments towards building better food systems and promote food sovereignty and was attended by 34 Heads of State and Government, 75 ministers, and heads of development partners.

The AfDB president, Dr. Akinwumi Adesina, stated this when he received the Africa-based Directors General of CGIAR at the bank headquarters in Abidjan to forge ways of scaling up food and agricultural productivity on the continent.

He stated that AfDB Group and the Consortium of International Agricultural Research Centres (CGIAR) are committed to strengthening their collaboration to increase food production and provide better nutrition for Africa’s growing population.

He noted that with 65 per cent of global uncultivated arable land, the Bank believes that the continent

can feed itself and the rest of the world.

CGIAR centres are located across African countries and focused on enhancing food and nutrition security, reducing poverty, and improving natural resources and ecosystem services.

He stressed that they are critical to achieving food security on the continent, just as their counterparts in Southeast Asia and Latin America were also key to accelerating agricultural growth and food self-sufficiency.

The meeting was the first coordinated group visit by the four directors-general/regional directors and one deputy director

general of CGIAR for Africa to a financing partner and came two days after Dr Adesina hosted a visit from United States Secretary of State Antony Blinken, during which the head of US diplomacy praised the bank for the exceptional efforts it is undertaking to help Africa feed itself and the rest of the world.

The leaders focused on securing long-term financing for research activities and for CGIAR to enhance its effectiveness across the continent.

They also discussed capacity building for country-based national agricultural research services partners, young scientists and extension workers, and private-

sector seed growers to produce certified seeds.

Adesina, said: “I was pleased with the reforms at CGIAR, and we must ensure that it is held accountable for results which must be at scale. We must unlock Africa’s agricultural potential and deploy technologies to millions of African farmers. CGIAR is central to that. I have made agriculture central to the work of this bank and central to the future of our continent.”

Adesina added that the Bank, with the approval of its board of directors, could consider including CGIAR in its long-term lending programme to countries:

“CGIAR leaders have local knowledge, experience and networks and are better placed to work with national institutions to combat climate change and increase productivity and food security,” he averred.

Leading the delegation, CGIAR Regional Director for Continental Africa and Director General of the International Institute of Tropical Agriculture (IITA), Dr. Simeon Ehui said: “The African Development Bank has been a long-standing partner of the CGIAR in providing technology.

The story continues online on

www.thisdaylive.com

Burkina Faso, Mali, Niger May Close Airspace against Nigerian Flights, Aviation Stakeholders Warn Chinedu Eze Following the official resignation of Burkina Faso, Mali and Niger from the Economic Community of West African States (ECOWAS), after alleging marginalisation from Nigeria’s President who is the Chairman of ECOWAS Bloc, stakeholders in the aviation industry have warned that the three countries may close their airspace against flights emanating from Nigeria.

The stakeholders are of the view that should the three African countries make do their threats to withdraw their membership from

ECOWAS, they will likely close their airspace against Nigeria, a development that will cause adverse effect on the Nigerian economy, since the three countries occupy about 50 per cent of ECOWAS airspace.

According to them, if Burkina Faso, Mali and Niger should close their airspace against Nigeria, flights from Nigeria will have to spend extra two hours to circumvent these countries, which will be at huge cost for both scheduled, cargo and private flights going in and out of Nigeria.

Former Acting Managing Director, Nigerian Airspace

Management Agency (NAMA), Mr. Matthew Pwajok, told THISDAY that one of the ECOWAS sanctions against Niger Republic was that no flight emanating from Nigeria would land in Niger, except in special cases and it must have the approval of the National Security Adviser and the sanction was conveyed to the Nigerian Airspace Management Agency (NAMA).

According to him, if these three countries withdraw from ECOWAS, Niger will want to revenge against Nigeria by closing its airspace to flights to and from Nigeria, which will cost the airlines huge amount of money and also the aviation

agencies, especially NAMA, which will lose over-fliers revenue, paid in foreign currency and which is the base of the agency’s income.

“The challenge we will have is, if they decide to close their airspace against flights from and to Nigeria it will adversely affect our Europe-bound flights, which usually fly through Niger and this will be a serious challenge both for the airlines and for aviation agencies, especially NAMA. Flights from southern Africa fly though Nigeria and we generate revenue from over flier charges, but if they close their airspace, these flights won’t be flying through our own

airspace to connect to theirs and to Europe.

“So, NAMA’s revenue will drop.

ECOWAS decision is that no flight from Niger will be allowed in Nigeria and no flight in Nigeria will be allowed in Niger, except technical stops like small planes and helicopters can stop there and refuel but there must be approval from the National Security Adviser,” Pwajok said.

“Currently West African nationals travel across the states without visa, they move goods and services by road, sea and air as members of ECOWAS community but if the aforementioned countries withdraw,

they can block free passage of flights destined to Nigeria.

“Also, Nigerians will not be able to visit the countries without visa and goods from Nigeria may be barred from being sold in these countries. Most goods produced in Nigeria, including beverages, foot-wears, clothes, electric cables and others are sold across the nations that made up the ECOWAS states, but the withdrawal of Burkina Faso, Mali and Niger will disorganise the ECOWAS protocol on trade, transport and diplomatic corporation, “Pwajok further said.

The story continues online on

www.thisdaylive.com

M A R K E T D ATA A S AT T H U R S D AY, F E B R U A R Y 1 , 2 0 2 4 BONDS Change Updated Time DESCRIPTION Price Yield (%) January ^13.53 23101.49 12.09 -0.01 18, 2024 MAR-2025 ^12.50 22January 99.40 12.85 0.01 18, JAN-2026 2024 ^16.2884 17January 109.01 12.72 0,00 MAR-2027 18, 2024 ^13.98 23January 101.63 13.44 0,00 FEB-2028 18, 2024 ^14.55 26January 101.40 14.15 0,00 18, APR-2029 2024

BILLS MATURITY

Discount Yield

Change (%) Updated Time

MATURITY

RMBL CP VI 31-JAN-24 CRSL CP II 18-FEB-24

6.52

6.54

January 0.00 18, 2024

8.97

9.04

January 0.00 18, 2024

10.37

10.50

January 0.00 18, 2024

RMBL CP VI 31-JAN-24 CRSL CP II 18-FEB-24

7.79

7.89

January 0.00 18, 2024

8.94

January 0.00 18, 2024

FLOURMILLS CP III 29-FEB-24

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

8.75

OTC F X F U T U R E S

CPS

FLOURMILLS CP III 29-FEB-24

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

Discount Yield 6.52

6.54

8.97

9.04

10.37

10.50

7.79

7.89

8.75

8.94

Change (%)

Updated Time

January 0.00 18, 2024 January 0.00 18, 2024 January 0.00 18, 2024 January 0.00 18, 2024 January 0.00 18, 2024

CONTRACT TENOR Contract (MONTH) 13

13M

14

14M

15

15M

16

16M

17

17M

Current Rate ($/₦)

Updated Time

NGUS JAN 29 2025 NGUS FEB 26 2025 NGUS MAR 26 2025 NGUS APR 30 2025 NGUS MAY 28 2025

January 18, 2024 January 18, 2024 January 18, 2024 January 18, 2024 January 18, 2024

24

FRIDAY, FEBRUARY 2, 2024 ˾ T H I S D AY

BUSINESSWORLD

AIR WATCH

NCAA Calls for Verification Status of Aircraft Equipment Stories by Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has called on customers of aircraft charter services to verify if the aircraft deployed to provide them service has the right permit for charter operation.

The warning was a reaction to recent incidents that took place at Ibadan airport involving operators violating their permits and engaging in ilicit charter services.

Acting Director General, NCAA, Captain Chris Njomo, who gave the advice, emphasised that insurance coverage for charter flights only applies to operators with the proper license

without which passengers would be taking significant risk in the event of an accident or incident.

The NCAA clarified that Permit for Non Commercial Flight (PNCF) holders can only be used for private, noncommercial purposes as carrying passengers, cargo, or mail for hire is strictly prohibited.

To ensure passenger safety and security, the NCAA Director General said, it is intensifying its oversight and enforcement efforts and violators would face immediate consequences, including suspension, withdrawal, or even revocation of their PNCF. “This is a stern warning to all PNCF holders that it is no longer

business as usual for violators of these conditions, of their permits, NCAA solicits the cooperation and understanding of all,” the NCAA Director General said.

To help the public make informed choices, the NCAA has published a list of licensed and eligible charter operators on its website.

“This is a serious matter.

We will not tolerate operators who put passengers at risk by exceeding their permitted activities,” he warned, adding that before booking a private jet, the NCAA strongly encourages everyone to verify the operator’s license and ensure they are authorised for commercial charter flights.

A I R WATCH FAAN’s Bizarre N2.5bn Flights, Hotel Accommodation Cost

New Service Rates for Airlines Imminent T continuous depreciation of the naira and steep rise in inflation, have prompted ground handling companies in the Nigerian aviation industry to review upward, the handling rates for domestic airlines.

Aviation Ground Handling Association of Nigeria (AGHAN), the umbrella body of ground handling companies in the country, in a meeting with the acting Director-General, Nigeria Civil Aviation Authority (NCAA), Capt.

Chris Najomo, recently in Abuja, said the review was inevitable with the current economic situation in the country.

THISDAY gathered from a letter made available by informed source that the handling companies were disconcerted by the impact of the unstable economy on their businesses.

The letter, which was addressed

to NCAA was signed by three of its executives Mr. Olaniyi Adigun; Chairman, Ahmed Bashir; Vice Chairman and Prince Saheed Lasisi, Financial Adviser, and dated January 26, 2024, with the title: ‘Proposed Increase In Domestic Safety Handling Rate in Nigeria.

AGHAN in the letter proposed different rates for airlines, depending on the aircraft sizes.

For instance, the group proposed N400, 000 per flight for a Boeing 737 aircraft or its equivalent, N250,000 for CRJ or Embraer aircraft and N150,000 for a Dash 8 airplanes.

AGHAN proposed March 31, 2024 for the take-off of the new regime and sought the approval of the NCAA for full implementation of the new rates.

In a previous review midwifed

by NCAA in 2021, before the further

depreciation of naira, the rates were N70,000 for B737, N50,000 for CRJ and Embraer, while Dash 8 was handled at N25,000 per flight or their equivalents.

The letter declared that all the Ground Support Equipment (GSE) used for handling of aircraft by the companies are imported 100 per cent, lamenting that they have had to grapple with the consistent decline of the naira in the foreign exchange market for the past 24 months.

The body emphasised that on the domestic side, Lagos and Abuja flight ranges between N90,000 to N150,000 for an economy class ticket, while the business class ranges between N180, 000 to N250,000 depending on the airline, class of the ticket and the period the booking was activated by an air traveller.

IATA Releases 2024 Cargo, Ground Handling Manuals The International Air Transport Association (IATA) has completed and released the annual revision of its industry manuals for cargo and ground handling operations, incorporating the latest changes and revisions made to many of the underlying industry standards, as well as any State and operator variations.

These, according to the global body, reflect the sector’s ongoing commitment to further improving safety, introducing more sustainable operations, as well as enhancing the passenger experience and cargo handling.

It stated that in total, more than

300 changes have been made, including updated guidance on the transport of mobility devices, particularly when powered by lithium and other batteries The safe transportation of mobility aids requires special care and attention, while the additional challenges posed by the transportation of lithium or other batteries required for some of these mobility aids must also be considered.

Hence, the guidance for the carriage of dangerous goods by passengers or crew has been updated, in order to improve the

end-to-end transportation process for mobility aids.

The amendments, IATA said, are reflected in the latest editions of the Dangerous Goods Regulations (DGR) and Lithium Battery Shipping Regulations (LBSR) and support the industry’s commitment to travelers with disabilities made at the IATA Annual General Meeting in 2019.

IATA stated that for over 50 years the IATA LAR has served as an indispensable resource, guaranteeing the safe worldwide transport by air of a wide variety of species.

Expert Lists Measures to Address Future of Data Privacy Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Peter Uzoho (Energy) Ugo Aliogo (Development)

The Managing Director at Google sub Saharan Africa, Mr. Alex Okosi has listed five steps all marketers should take to be prepared for a privacy-centric future.

According to him, 2024 is the year to get uncomfortably excited as a digital marketer, following Chrome’s planned third party cookie deprecation in the second half of 2024, as well as regulatory changes in the landscape.

Echoing sentiments found in Europe, as highlighted by research from IAB Europe, which reveals that 75 per cent of Europeans would opt for the current internet experience, complete with targeted ads, over a version devoid of personalised advertising but requiring payment for access to websites, content, and apps, Okosi warned that it

was time to take a hard look at ads privacy strategy and get a realistic picture of how much people may still rely on legacy technology, like third party cookies. This, he said, would be the end of the ‘precision’ era in favor of new tools like Artificial Intelligence (AI) and privacy preserving technology that enable ‘prediction’.

He therefore listed five steps every marketer needed to take, to include: Tagging, Consent, First-party Data Strategy, Data Management and Stock Taking.

According to him, tagging as an important step, it is the foundation on which a successful measurement strategy is built - it’s how advertisers understand how their websites and campaigns are performing, measure conversions and thoughtfully and responsibly collect first-party data.

Chinedu Eze The Federal Airports Authority of Nigeria (FAAN) spent additional N2.5 billion on personnel allowances, hotel accommodation and flight tickets annually since the agency was forced to relocate its headquarters from Lagos to Abuja by the former Minister of Aviation, Hadi Sirika in 2020, THISDAY investigation has revealed.

Officials of FAAN told THISDAY that the expenditures eroded the agency’s revenue, coupled with the compulsory 50 per cent deduction by the federal government from FAAN, a development, they said, deprived FAAN of the needed funds to carry out targeted projects like the resurfacing of runways, the rehabilitation of terminals, installation of airfield lighting at some airports, including its inability to conduct some essential training for its personnel. They said FAAN had to delay the completion of on-going projects due to paucity of funds.

A former Head of Commercials in FAAN, Mr. Ade Kolawole, told THISDAY that the former Minister should not have moved FAAN headquarters to Abuja because there was nothing on ground in terms of structure to accommodate the relocation of personnel, noting that besides the airport offices, FAAN did not have any facility to even accommodate its directors and general managers.

“So, it was the Managing Director that moved to Abuja and because most of the activities of FAAN were domiciled in Lagos, he has to return to Lagos any other day. While the Managing Director was in Abuja, all other members of staff were in Lagos. So, senior officials like directors and general managers have to incur flight expenses, hotel accommodation and allowances going to see the Managing Director in Abuja.

“These personnel accrued per diem, which is daily allowance, which an employer pays to employee to cover living expenses when travelling on the employer’s business. This encouraged the directors to be travelling to Abuja regularly. So, that relocation made people to make so much money from FAAN. FAAN has nothing in Abuja except rented places; unfortunately, those who moved to Abuja moved nothing because all other activities are still going on in Lagos, where FAAN generates 70 per cent of its revenue, which it used to service other airports in the country. Besides the movement of the Managing Director, FAAN’s headquarters has technically remained in Lagos,” Mr. Kolawole said.

A former Deputy General Manager, Accounts at FAAN, Mr. Philip Emeto, also told THISDAY that the relocation of FAAN headquarters to Abuja was simply decided on sentiments because Lagos is the hub of airlines operations both domestic and international carriers, noting that Abuja is political headquarters of Nigeria and not its commercial centre.

“FAAN has no land or quarters in Abuja to accommodate the staff; in fact, there is no structure. As far as FAAN is concerned; that decision to relocate headquarters to Abuja was a wrong decision but nobody was courageous to speak against it. To me, that decision did not make any sense and it gave rise to colossal loss of funds to FAAN. That relocation was costing FAAN a lot of money. So much

money was paid for hotel accommodation; how can FAAN break even? The best thing that has happened to FAAN is the decision of President Tinubu to return the headquarters back to Lagos. Government should not mix commercial activities with politics. Ministers can stay in Abuja; they are not professionals; they are political appointees. Relocating FAAN to Abuja has nothing to do with the generation of revenue, as Lagos is the base of FAAN source of revenue.

“I do not know why government likes to waste resources. How can you be removed from a place where you have economic advantage to another place where you have no structure at all to accommodate personnel as offices, no living quarters and what happens to the offices you will leave behind in Lagos. You will have empty offices in Lagos and no offices in Abuja; unless you rent them. It does not make any sense to me. It is only government that can encourage such wastefulness,” Emeto said.

FAAN had earlier made it clear that the reason why the Minister of Aviation, Festus Keyamo, decided that FAAN should relocate its headquarters to Lagos was to save the huge expenses the agency incurs operating in an environment where it has no office accommodation for its personnel.

FAAN had explained that the members of staff who had earlier moved to Abuja affected by the decision, had returned to Lagos, as there is no office space for them in Abuja. It was ill-advised in the first place to move the headquarters to Abuja when there was no single FAAN building in Abuja to accommodate all of them at once.

“Having returned to Lagos, the authority will be liable to pay them duty tour allowance because technically they are working ‘out of station, as their official posting is to Abuja, and the Minister has decided to stop this waste of public resources and rip-off on the public purse,” Emeto further said.

According to FAAN, “The other option open to the Authority was abandon the old FAAN building in Lagos to rot away and to use its scarce resources to rent an office space in Abuja for Millions of Naira of public money when in actual fact more than sixty percent of its activities are in Lagos, given the huge passenger volume of the Lagos airports. The stakeholders and the Minister decided against that and to save the country this waste.”

As the Federal Capital Territory, FAAN said that it would relocate to Abuja when it has put the necessary structures in place in order to mitigate the current expenses it incurs due to the absence of these facilities.

“The Minister has rolled out plans to get concessionaires to build befitting offices for the Authority in Lagos and Abuja, and until that is done, the Authority will continue to manage its old building in Lagos that can accommodate all its directors and senior officials for now. Abuja continues to have full operational offices and the authority has not scaled down operations in Abuja one bit. It is just the technical decision of where the authority has its ‘corporate headquarters’ that has been taken without affecting the structure of operations as they are for now in both cities. In the near future, when befitting corporate buildings will be built for the authority in both Lagos and Abuja, a final decision will be taken as to the location of the permanent headquarters, depending on the exigencies of the time,” the agency said in a statement.

T H I S D AY ˾ FRIDAY, FEBRUARY 2, 2024

25

BUSINESSWORLD

INTERVIEW

Sanusi: Aero Contractors Heading Towards Recovery The Managing Director and CEO of Nigeria’s oldest carrier, Aero Contractors, Captain Ado Sanusi, speaks about the challenges the airline faced in the last few years, and how it rebound. Chinedu Eze presents the excerpts.

You took over as CEO of Aero Contractors at some point, but later left, and reappeared.

What progress do you think the airline recorded within that period? es, so you know I was first appointed in 2017 after the company was shut down due to underperformance and other factors that affected it.

In February 2017, when I assumed office, we started to assess the situation in Aero Contractors and fortunately for us, we moved the company within the next three years to become a viable company from no aircraft to almost five aircraft in our fleet. We were the first to perform a heavy check (C-check, aircraft maintenance) on the airplane and we developed the MRO business.

Then I left for another assignment and unfortunately things went down again in Aero Contractors and I was reappointed in October 2022. When I came in 2022, things were worse than when I first met the company in 2017.

Reason being that the airline was shut down and there was outstanding salaries to be paid and workers were de-motivated to work. Again, we looked at what we could do. We had no aircraft, but we took off from zero aircraft and currently we are flying four airplanes. And then we are back paying salaries as at when due. And we are enlarging the capability of the MRO. And we are bringing more aircraft. We moved the number of aircraft to about four, and then paid salaries as at when due.

So we have stabilised the company and it is in the trajectory of recovery. Hopefully by the next few months, we will bring the fifth airplane, and we hope to bring the sixth airplane towards the middle of the year. So I believe we are in the right path. It is a difficult situation and the business environment that we found ourselves in is also difficult to operate. I mean the economy of the country and, of course, the harsh conditions and business have affected us but we are still surviving.

how to strategize whether it is going to be a regional airline or domestic airline or even an international airline.

Y

Okay, AMCON has stakes in Aero Contractors. How are they supporting to make sure that the company continues to thrive?

I believe that AMCON should be able to answer this properly. But from what I see from the body language of AMCON, is that they want to keep the company as a going concern. I don’t think they want to invest in

Putting it succinctly, you need funding?

Yes, we need funding. We need to know where exactly the direction the airline is going. We have been on the receivership for a while now. And we can’t have access to funds because we are under receivership. We can’t make major decisions on investment because we are under receivership.

Sanusi the company to make it good so that they can sell it. And I don’t think they want to liquidate the company. So they want to keep it the way it is and sustain it to grow. That is my understanding.

And I may be wrong, but that is my understanding of what AMCON is trying to do with the company. Yes, of course, they have stake as of the books, they have 60 percent stake in the airline. But for an airline to survive it must have a vision, it must have a plan, it must know what it’s doing. So, that is why it will encourage our growth and it will enhance our strategy to position the airline in a very good way because if certain fundamentals are not taken care of we can’t keep it as a going concern. We cannot make strategic longterm planning, strategic decisions on how to reposition the airline in the growing market in the country and in the region and of course the world in general. So that will affect us. So a decision must be made in a very good and short time to make sure that we can take a decision on

Is there any plan to exit from the receivership now that AMCON has a controlling share?

Well right from the beginning, like from 2017, there were lots of plans to exit. I was involved in some plans to diversify AMCON ‘s shares in the company. And we went to this, we did all the process from the tender to selection and everything. But unfortunately, again, it was stalled, and I don’t know the reason why. I believe the process is taking longer than necessary, and it’s affecting the survivability of the company. Because if you don’t take a decision on a particular company and you leave it as a going concern, there will be a time when it will not be going again. It has to decide whether it’s going to stop or you’re going to liquidate directly or you’re going to have investors to come in and put money into the business.

Aero has a lot of goodwill, but the undulating situation is affecting your goodwill. Let’s look at the domestic marketing environment and how are you are located in that market?

We are not in the right place. Aero Contractors, of course, the foremost aviation company in the country then, maintained the market share for a very long time. But after the company started underperforming, it went into distress, crisis and everything, and it lost the position of the major market share.

And for us when we came back in 2017, when I took over in 2017, when we came back to the market, the brand was strong. It’s a very strong brand.

We still did not get to that market

share that we wanted to get, but we were at least among the first three. And as of now if nothing is done, if investment is not put into the company, we will still be losing market share in the industry, despite the fact that the brand is a very strong brand and because of its safety history and because of its quality and its tendency not to cut corners. We do things right.

I think that high level of discipline and professionalism have made Aero Contractors a reputable name in the aviation industry.

But again, we can’t be relying on that for a long period of time. We must invest in this company to keep it going. We must take a decision on the company so that it can survive and sustain the goodwill and reputation.

Now has any organisation or investor indicated interest so far?

So many investors have indicated interest; so many of them. But again, it’s not my position to have a discussion with investors because it is those that are selling that will welcome such requests or will answer that question better. But for me, as the CEO, I have had a lot of discussions with interested parties which I have said they should go ahead and contact the owners of the business and see whether they can come to an agreement in selling or investing in the business.

Is it possible the owners can cede some of their shares if an investor or investors wish to invest in the company?

Yes. and I believe so. Again, AMCON is in a very better position to answer this. I believe what AMCON can do is sell their stake in Aero Contractors after diluting the shares because of the company’s financial performance. So they dilute the shares so that an investor can bring money into the business without the money that he’s bringing being engulfed into the big debt profile that the company has. So, AMCON is expected to dilute the shares, restructure the company and bring an investor to come in and bring the money to invest in the company. But again, AMCON will have a very good answer for this situation.

The story continues online on www.thisdaylive.com

Digital Microsavings Need Clear Pathway to Pump Life into African Economies

K

enyan president William Ruto’s recent calls for an African savings culture to bolster economies will not be possible without concerted action to support fintechs offering digital microsavings products, according to members of the AFIS community- Valens Kimenyi (National Bank of Rwanda), Uzoma Dozie (Sparkle), Osamudiame Adams (Mazars), Karan Bhalla (AiVantage Inc.), Joshua Chibueze (Piggyvest) & Jean Yenga (Visa) Government-backed savings schemes such as Rwanda’s Ejo Heza voluntary savings programme (2.8 million active subscribers and supported by MTN, Airtel, Mobicash and Bank of Kigali) have made strides to encourage savings for low-income groups.

But such government subsidised initiatives will not be sustainable long-term and private sector-led innovation will be needed to alleviate pressure on public purses.

Mobile money, with 33% of Sub-Saharan African adults now holding accounts, has paved the way for fintechs to develop innovative digital savings solutions. But despite ample economic benefits few digital savings options exist for Africans and those that do lack critical mass.

Why does it matter?

Digitalising savings could help individuals prove creditworthiness for future lending, encourage increased long-term consumer spending and lead savers to eventually become investors. Customer deposits could also be deployed to expand credit to local businesses and invest in government securities, corporate bonds or pension funds to support economic growth.

A combined effort is required from governments, regulators, fintechs and traditional financial institutions to ensure uptake of digital savings, protect customer deposits, and to channel capital towards national development.

UNDERSTAND DEMOGRAHPICS TO DIGITALISE SAVINGS Africans even on low incomes save. A survey by fintech Piggyvest found 64% of Nigerians, earning less than N100,000 ($125 a month), save a portion of their monthly income. Saving for some is a necessity with rents in certain West African countries paid a year in advance. But many save outside the financial system in ways that do not benefit national economies.

Decades of currency volatility have eroded trust in saving in financial institutions, adding to the hurdle of making physical cash deposits at faraway bank branches.

Consequently, African savers frequently resort to stockpiling non-perishable foods or US dollars, storing cash at home, acquiring land or livestock, or more recently investing in cryptoassets.

Others engage with informal rotating savings and credit associations, which take different names across countries: Chamas in Kenya; Njangi in Cameroon; and Tontine in Morocco.

Africa’s young population with a median age of 19 and increasing mobile penetration (43% in 2022 and predicted to rise to 50% by 2030) offer a strong opportunity for fintechs not weighed down by the legacy systems of commercial banks to digitalise savings.

ENGAGE INFORMAL SAVINGS GROUPS Customer psychology must be understood before applying technologies.

A government-led effort to engage informal savings and credit groups will be crucial to identify customer needs.

The Central Bank of Rwanda for example conducts an annual survey of informal savings groups, gathering data on their membership and the size of their savings. Findings are published on the central bank’s website, enabling financial institutions to identify and target potential customers.

Fintechs can then develop products catered to the needs of members. Nigerian fintech Sparkle has for instance developed its ‘Esusu’ feature - derived for the name for informal credit & savings groups for the Yoruba people - allowing groups and families to save together digitally.

However, products will still need to win consumer trust.

CONFIDENCE THROUGH CONVENIENCE NOT HIGH INTEREST RATES A return of your money is better than a return on your money. Secure saving options that inspire consumer trust outweigh high-interest savings accounts that carry risks.

Trust can also be won by designing ultra-flexible savings products linked to lifestyles that are marketed in local languages with transparent and understandable terms & conditions.

Allowing customers to open multiple interest-earning wallets for customisable goals - for example for housing, farm investment or child tuition fees - can help savings fintechs demonstrate convenience.

With the average Sub-Saharan African earning $140 a month, deposits to interesting-yielding accounts should start as low as $0.05 cents with flexibility to save daily, monthly, weekly or even as a fixed percentage off any debit transaction. Those living hand-to-mouth

should also be able to withdraw savings regularly with minimum penalties.

Digital savings products with such flexibility exist, but the fintechs behind them will require partnerships to scale and build trust.

TOKENISED ASSETS AND COMMERCIAL BANK FUNDING TO RELIEVE CURRENCY VOLATILITY Commercial banks, insurers and real estate partners could be fundamental to reassure digital savers that their assets are protected from local currency volatility.

Funding from legacy commercial banks can support resource-strapped savings fintechs to mitigate risk and expand to multiple countries that would allow them to hedge currency risks.

Partnerships between fintechs and nonfinancial industry players could also allow savers to store their funds in less volatile tokenised assets, such as a fraction of real estate or gold, opening up markets previously unattainable for many.

NURTURING DIGITAL FINANCIAL EDUCATION Governments must play an active role in the early stages to expand internet infrastructure and educate populations on digital savings.

Fintechs often offer a bundle of services and do not have resources to promote all products, so existing saving options can lack consumer awareness. While government-led financial education programmes exist, few educate on digital financial services. Initiatives like Rwanda’s Cashless Week, focused on promoting digital payments and encouraging digital saving, could demonstrate the benefits of digitalising savings. t $PNQJMFE FEJUFE CZ 0MJWFS /JFCVSH

26

FRIDAY, FEBRUARY 2, 2024 • 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 31Jan-2024, 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 349.29 349.29 12.72% Afrinvest Plutus Fund 100.00 100.00 10.18% Nigeria International Debt Fund 329.88 329.88 0.97% Afrinvest Dollar Fund 108.33 108.33 0.54% 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 N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.00% Anchoria Equity Fund 237.43 240.28 22.66% Anchoria Fixed Income Fund 1.27 1.27 -1.04% 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 38.68 39.85 26.63% ARM Discovery Balanced Fund 785.76 809.45 18.61% ARM Ethical Fund 63.74 65.66 16.89% ARM Eurobond Fund ($) 1.11 1.11 2.81% ARM Fixed Income Fund 1.10 1.10 12.28% ARM Money Market Fund 1.00 1.00 10.10% ARM Short Term Bond Fund 1.01 1.01 8.78% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.8 106.8 309.00% AVA GAM Fixed Income Naira Fund 1,156.83 1,156.83 343.00% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.02 1.02 8.09% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 26.72888638 27.33776562 7.03% Women's Investment Fund 224.24 227.15 9.29% CHD Nigeria Bond Fund 99.04 99.04 N/A CHD Nigeria Dollar Income Fund 1.02 1.02 N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.84% Cordros Milestone Fund 177.74 178.90 2.73% Cordros Fixed Income Fund 108.43 108.43 7.93% Cordros Halal Fixed Income Fund 110.15 110.15 8.22% Cordros Dollar Fund ($) 115.01 115.01 6.21% 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 1.00 1.00 10.09% Coronation Balanced Fund 1.69 1.71 10.67% Coronation Fixed Income Fund 1.38 1.38 -638.90% 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 N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A 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 N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 6,002.47 6,045.55 43.86% Coral Income Fund 4,025.99 4,025.99 8.06% Coral Money Market Fund 100.00 100.00 11.68% FSDH Dollar Fund 1.20 1.20 0.00%

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 Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A 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 19.89 20.06 8.31% Meristem Money Market Fund 10.00 10.00 11.18% 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) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A Norrenberger Dollar Fund (NDF) ($) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.53 2.58 9.04% PACAM Fixed Income Fund 12.23 12.49 7.77% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.39 2.42 10.95% PACAM EuroBond Fund 132.79 136.09 0.68% SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund N/A N/A N/A 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 1.01 1.01 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 5,563.53 5,608.35 11.71% Stanbic IBTC Bond Fund 256.80 256.80 4.34% Stanbic IBTC Ethical Fund 2.36 2.39 14.73% Stanbic IBTC Guaranteed Investment Fund 353.54 353.77 0.09% Stanbic IBTC Iman Fund 466.15 471.50 23.52% Stanbic IBTC Money Market Fund 1.00 1.00 11.07% Stanbic IBTC Nigerian Equity Fund 20,540.58 20,779.98 13.21% Stanbic IBTC Dollar Fund (USD) 1.47 1.47 7.17% Stanbic IBTC Shariah Fixed Income Fund 129.01 129.01 6.35% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 126.98 126.98 9.56% Stanbic IBTC Absolute Fund 5,052.88 5,052.88 9.36% Stanbic IBTC Aggressive Fund 6,142.60 6,214.73 14.12% Stanbic IBTC Conservative Fund 5,634.94 5,663.35 6.64% 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 1.63 1.65 19.94% United Capital Balanced Fund 2.00 2.01 8.14% United Capital Wealth for Women Fund 1.68 1.70 18.36% United Capital Sukuk Fund 1.19 1.19 9.31% United Capital Fixed Income Fund 1.96 1.96 7.20% United Capital Eurobond Fund 124.88 124.88 5.30% United Capital Global Fixed Income Fund 1.09 1.09 9.25% United Capital Money Market Fund 1.00 1.00 10.84% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 20.71 20.97 12.35% Zenith ESG Impact Fund 22.99 23.19 5.50% Zenith Income Fund 25.52 25.52 0.75% Zenith Money Market Fund 1.00 1.00 10.86% 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 9.39 9.49 -5.98% Vetiva Consumer Goods Exchange Traded Fund 14.15 14.25 -2.67% Vetiva Griffin 30 Exchange Traded Fund 38.24 38.44 -1.39% Vetiva Money Market Fund 1.00 1.00 10.23% Vetiva Industrial Goods Exchange Traded Fund 56.50 56.70 -0.40% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 3.05%

REITS NAV Per Share

Yield / T-Rtn

130.26 60.04 101.79 11.30

0.31% 0.35% 146.85%

Bid Price

Offer Price

Yield / T-Rtn

N/A 891.00 855.01 21.36 41.87

N/A 891.00 855.01 21.77 42.35

N/A 78.20% 19.25% -8.93% 11.18%

NAV Per Share

Yield / T-Rtn

108.40

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

I N F R AST R U CT U R E F U N D 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.

This

Weekend

FRIDAY, FEBRUARY 2, 2024

Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com

07010510430

TR

UTH

& R E ASO

N

WEEKLY MAGAZINE

AIR VICE MARSHAL EDWARD GABKWET:

Projecting the Image of the Nigerian Air Force

28

˜ Ͱ˜ ͰͮͰͲ ˾ T H I S D AY

COVER

AIR VICE MARSHAL EDWARD GABKWET:

Projecting the Image of the Nigerian Air Force With a meritorious military career spanning over two decades, Air Vice Marshal, AVM, Edward Gabkwet is the Director of Public Relations for the Nigerian Air Force, NAF. The lightening had struck twice after he was reappointed on July 3, 2023 by the present Chief of Air Staff, Air Marshal Hasan Bala Abubakar. This was after he had served in the same position from March 9, 2021 to January 6, 2023. Chiemelie Ezeobi writes that the AVM, who recently gathered family and friends for a thanksgiving service in Abuja after he was promoted to the enviable rank of a two star general last December, has passionately and continuously increased public understanding of the role of the NAF when it comes to National Security and Air Power

I

n the military, departments and roles are as important as the other - whether infantry, music, catering, finance, operations, policy and planning, engineering, medical or even public relations, these roles are like a chain that cannot function without each other.

For the Public Relations arm, they occupy the all important job of engaging the media and the nation by communicating on-the-need to know information that builds the trust and confidence of the Nigerian public.

The image making, public relations and media management of the Nigerian Air Force (NAF) is currently headed by Air Vice Marshal (AVM) Edward Gabkwet under the able leadership of the Chief of Air Staff (CAS), Air Marshal Hasan Bala Abubakar.

Well versed in military, diplomacy, public relations and even management, AVM Gabkwet has been conscientious in increasing public understanding of the NAF’s role when it comes to Air Power, National Security and Development, albeit on the need-to-know basis.

For each crises the NAF encountered, he has gracefully maneuvered it without loosing his humanity. Not one to posture for social media adulation, AVM Gabkwet would rather work behind the scenes to project and shore up the image of the NAF. Little wonder why the service deemed him fit to promote him to the enviable rank of an Air Vice Marshal (two star general). Recently, he gathered family and friends in Abuja to thank God for the honour.

Air Marshal Hasan Bala Abubakar, the Chief of Air Staff decorating Air Vice Marshal Edward Gabkwet with Mrs. Jemcit Gabkwet, CEO Maya Clothing and Apparel

Who is Air Vice Marshal Edward Gabkwet?

Born on December 23, 1971 in Kaduna, Nigeria, AVM Gabkwet had his early education at Baptist Primary School, Jos South from 1977 to 1983 and thereafter proceeded to the prestigious Saint Joseph’s College, Vom, near Kuru in Jos South where he obtained his General Certificate of Education.

He then proceeded to study Veterinary Medicine at the Ahmadu Bello University, Zaria.

Military Career, Appointments Air Vice Marshal Edward Gabkwet was commissioned as an officer cadet of 42nd Regular Combatant Course of the Nigerian Defence Academy in August 1990. Gabkwet later graduated on August 16, 1996 with a Bachelor’s Degree in Biological Sciences and was subsequently commissioned as a Pilot Officer of the Nigerian Air Force.

He has held several appointments in the course of his military career. In 1998, he was the Group Public Relations Officer (GPRO) at Air Weapon School (Now 407 Air Combat Training Group), Kainji.

At various times, he served as the Command Public Relations Officer (CPRO) at Tactical Air Command Makurdi, Training Command, (Now Air Training Command), Kaduna as well as Logistics Command, Lagos.

Air Commodore Gabkwet was also a United Nations Military observer at the Democratic republic of Congo between 2004 and 2005 where he also acted as the Assistant spokesman attached to the Office of the Force Commander. He also served as the first press officer to the Chief of the Air Staff between 2010 and 2012.

As the Air Attaché, Edward was for two years, the secretary of the Africa and Middle East Defence Attaches in China, a socio-cultural group catering to the military interest of Africa and Middle Eastern Nations in China. In 2018, he was appointed as the Command Training officer at the Ground Training Command Enugu.

Until his appointment as the 17th Director of Public Relations and Information (DOPRI), he was a member of Directing Staff and Director Coordination at the Air Force War College, Makurdi.

Gabkwet served as the DOPRI from March 9, 2021 to January 6, 2023. He was reappointed DOPRI on July 3, 2023 after serving as the Commander 551 NAF Station Jos, Plateau State. He was promoted to the enviable rank of an Air Vice Marshal last December.

Courses Bagged Over the course of his sterling career, AVM Gabkwet has attended several courses some of which include, International Military Public Relations Course in

AVM Gabkwet and wife during the Thanksgiving last Sunday in Abuja

Parents and family at the Thanksgiving Service with the celebrant and wife Sweden, Junior and Senior Command and Staff Courses at the prestigious Armed Forces Command and Staff College, Jaji as well as Strategic Public Relations and Crisis Management Courses at Pinnacle PR, London.

Additionally, he attended a Speech Writing Course organised by Ragan Communications at American University, Washington DC. The AVM is an alumnus of the Nigerian Institute of Journalism, Ogba Lagos State, where he obtained a Post Graduate Diploma in Public Relations in 2008.

The AVM is also an alumnus of the National Defence University, Champing, China, Air Force War College, Nigeria and the National Defence College, Nigeria.

Air Commodore Edward Gabkwet is an Associate Member of the Nigerian Institute of Public Relations and a Member of the Nigerian Institute of Management.

Decorations The NAF spokesperson has been decorated with the Distinguished Service Star, Fellow Defence College, Fellow National Defence University, Fellow Air War College (+)

and the United Nations Medal among others.

Family Life He is married to Mrs. Patricia Jemcit Gabkwet, who is the MD/CEO of Maya Clothing and Apparel Company (a bespoke clothing and apparel company with skills to churn out school uniforms, ceremonial gowns, doctors/nurses wears, construction/factory workers wears, para-military uniform wears and lawyer gowns, as well as office outfits).

The AVM, whose union is blessed with three children, enjoys playing golf and badminton as well as watching documentaries.

29

˜ Ͱ˜ ͰͮͰͲ ˾ T H I S D AY

NEWS

Sahara Group to Plant 2,000 Trees to Remove 450 Tonnes of CO2 from Atmosphere Precious Ugwuzor As part of a consistent effort to drive sustainability, leading energy conglomerate and infrastructure Sahara Group in partnership with Treedom is planting a minimum of 2,000 trees annually across Africa.

According to Bethel Obioma of Sahara Group Ltd Corporate Communications, these initial set of trees will absorb more than 450 tonnes of CO2 over the next 10 years. This collection of trees called ‘Asharami Groves’ will be planted in the conglomerate’s locations of operation across Africa, starting with Cameroon (900 trees) and Kenya (1,100 trees).

This collaboration is part of Sahara’s efforts to drive environmental sustainability.

Treedom is a social organization that aims to support sustainable development through tree planting. Since Treedom’s establishment in 2010, more than 3 million trees have been planted across Africa, SouthEast Asia, and South America.

All trees are planted directly by local farmers, bringing environmental, social, and financial benefits to their communities.

According to Ejiro Gray, Director, Governance and Sustainability, “Sahara Group is committed to taking ambitious actions to address climate

CEO, Egbin Power Plc (a Sahara Group Power Generation Company), Mokhtar Bounour with the students of Powerfields Group of Schools engaging in tree planting, showing generational sustainability at the power plant in Lagos change, and our collaboration with Treedom is a significant step towards achieving our sustainability goals.

“We believe that planting trees is one of the most effective ways to mitigate the impacts of climate change, and we are proud to partner with an organisation that shares our vision of a sustainable future.”

Gray said Sahara Group remained committed to environmental sustainability and would continue to champion efforts geared towards preserving the environment and creating a better future for all.

Sahara Group recently announced its 2060 net zero

plan, which aims to achieve carbon neutrality by 2060. This is in commitment to driving sustainability through reducing greenhouse gas emissions, promoting energy efficiency, and adopting renewable energy sources.

Speaking on the significance of this partnership, Mario Pacifico, Managing Director Treedom, Mario expressed his excitement over Treedom’s partnership with Sahara and the impact that it would achieve.

“Treedom is happy to be partnering with Sahara to plant a minimum of 10,000 trees over the next 5 years.

We see the energy industry as an area that must actively contribute to positive climate impact, which Sahara will be doing through our agroforestry projects in Cameroon and Kenya. Additionally, our farmer partners will be directly benefiting socially and economically at the same time through these projects” Pacifio added.

Sahara Group’s partnership with Treedom builds on previous tree planting initiatives, such as the planting of 1000 trees on a 2km range vegetation at Egbin Power Plc (a Sahara Group Power generation company) planting 1000 trees, helping to maintain the ecosystem balance. With about 140 electric scooters and buggies, Egbin’s ‘Go-Green’ initiatives cuts back 670,000kg of CO2 emission annually.

In addition, Ikeja Electric, a Sahara Group power distribution company pioneered the switch from paper-based to e-bills in a bid to promote sustainability. At the First Independent Power Limited (FIPL), another member of the Sahara Group family, a journey manager app digitally tracks movements that require the use of company vehicles, thereby reducing unnecessary vehicle usage and promoting more efficient transportation and environmental sustainability.

When Kuramo Old Students Honoured their Colleagues Stories by Mary Nnah It was an honour well deserved when members of the Kuramo College Old Students Association (KCOSA) decided to come together recently to acknowledge a couple of their colleagues who had made not just the association proud but their alma mater as a whole..

The occasion was the formal reception in honour of their colleagues, Mrs Bridget Iwinose Gold who was recently appointed the Director, Legal Services, FederalAirportsAuthority of Nigeria (FAAN) and Mr. Johnny Ungwugwaye Agim, who was also recently made a Senior Advocate ofNigeria(SAN).Speakingduring the event, KCOSAPresident, Felix Uweribeno said, “We have come hereinsupportofprogressandthis is not just for Johnny and Bridget whom we are honouring today as legal luminaries but for the glory of the entire school and members of KCOSA worldwide.”

“Nothing good comes without commitment and today we see

Director, Legal Services, Federal Airports Authority of Nigeria (FAAN), Mrs. Bridget Iwinose Gold, legal practitioner, Mr. Johnny Ungwugwaye Agim (SAN) and KCOSA President, Felix Uweribeno at a formal reception by KCOSA a defining example of how this commitment yields fruits by way of accomplishments and resounding acknowledgement by the accolades that must follow on the heels of any great achievement.

And this is a moment when our Association must take as a sacred duty to honour those whom honour is due.”

Uweribeno explained that the

FNSB Appeals for Support, Unveils Plans for 70th Anniversary The Chairman of Council, Federal Nigeria Society for the Blind (FNSB) has called on corporate organisations, government, religious institutions and well-meaning individuals to donate towards upgrading the vocational training centre with more facilities to improve the learning environment for the blind.

The FNSB was established in 1955 and it is a voluntary nongovernmental organization set up to rehabilitate and train people who go blind in adolescence or adulthood.

In his remark at the press conference to announce plans for the 70th anniversary of the organisation, the Executive Chairman of FNSB, Mr. Fusi Akinkugbe said that it has been 69 years of working hard to rehabilitate and educate those who go blind and have visual

impairment in adolescence and adulthood.

Some executive council members and guests who attended the press conference include Vice Chairman, Executive Council, Mrs. Arit Tunde-Imoyo, Immediate Past Chairman, Executive Council of FNSB and former CommissionerforEducation,Lagos State, Mrs. Folasade Adefisayo and CEO, Crestech Engineering Limited, Gbola Sobande CEO, Ladybird Advertising, Mrs. Bunmi Oke along with some membersofthemanagementstaff.

He said, “This is a category of people that many of us may not be familiar with, but they are there, and our vocational training centre for almost 7 decades has been in the forefront of their rehabilitation, education, and empowerment.

We are also active in efforts to prevent blindness and visual impairment,” he added.

duo were honoured because they had distinguished themselves in theirprofessionsandtheprocesshas brought honour to the school and this the association was so proud of.

“And in a time when our society has a penchant for honouring mediocrity, we have the privilege to celebrate at this level of accomplishment, standing for quality and authenticity and having the

hallmarks of the true value of hard work and integrity. These are things our school installed in us growing up and we are glad their instruction has paid off “, the KCOSA president noted.

While congratulating the honourees, the Chairman BOT of KCOSA, Pastor Francis Njoku, said, “I desire to see a more united and stronger KCOSA here in Nigeria and the diaspora. I want to hear of the exploits Of KCOSA members here in the county and in the diaspora. I know that God who has started it will continue to bring it to pass. We have come a long way; we have crossed so many waters and here we are today celebrating one another and we will continue to celebrate.”

Responding, one of the honourees, Mr Johnny Ungwugwaye Agim (SAN), said, “First I must say that I am elated and I lack the words to explain my feelings right now. I believe it is worth celebrating not just because I am a SAN today but as something that is a huge achievement for myself and the school.

Oyo State Attains New Milestones at NCCIDE’s 11th General Meeting Following Oyo state’s success at the 2022 General Meeting of the National Council on Communications, Innovation and Digital Economy(NCCIDE)heldinIbadan, where it emerged victorious in all categories, the state has once again reaffirmed its position as a trailblazer in Information and CommunicationsTechnology(ICT) with a remarkable performance at the 11th General Meeting ofNCCIDE,themed“Leveraging onDigitalTechnologyandInnovation to Drive Nigeria’s Economic Growth and Development.”

The event, hosted in Kano by Governor Abba K. Yusuf from January 22nd to January 25th, 2024, was attended by notable figures, including the Honourable Minister of Communications and Innovation, Dr Bosun Tijani, who chaired the meeting, the DirectorGeneralofNITDANigeria,Kashifu Inuwa,StatesCouncilMen,Private dignitaries, among others.

At the meeting, Oyo State achieved significant milestones, underscoring its leadership in ICT excellence. The state was honoured with three awards, further solidifying its reputation as a pioneer in the country’s digital landscape.

Oyo secured the following positions in the three categories: Best State in Human Capital Development, Best State in Egovernment, Best State in Digital Technology Infrastructure as well as the Overall best state in Digital Technology.

Announcing this feat,Adebayo Akande, Senior Special Adviser to the Governor on ICT, said: “I am proud to announce that for 3 consecutive years, Oyo state has demonstrated its leadership in ICT innovation and implementation, fostering an enabling environment for start-ups and businesseswhilecontributingtothe digital transformation in Nigeria.

VESTI PARTNERS NITDA TO EMPOWER IMMIGRANTS

Vesti Partners NITDA Vesti, the NeoBank for immigrants is collaborating with National Information Technology Development Agency (NITDA) to host the Co-Create West Africa Tech Exhibition with the theme, “Evolve”, scheduled to take place from February 28 to March. 2nd 2024 at Eko Hotel & Suites Victoria Island, Lagos.

The strategic collaboration underscores Vesti’s commitment to empowering the next billion immigrants through innovative financial solutions and reaffirms its position as a global leader in migration and financial services for immigrants.

Speaking on the partnership, Co-founder and Chief Executive Officer of Vesti, Olusola Amusan, said, “Being part of the NITDA Co-Create West Africa Tech Exhibition aligns perfectly with Vesti’s mission to support global mobility of humans and capital for the next one billion immigrants.”

“This event brings together some of the brightest minds and most disruptive technologies, and we’re excited to showcase how Vesti can bridge the financial gap for Nigerians interested in going global, immigrants facing financial challenges, and Nigerian technology entrepreneurs looking to expand their business internationally”, he added.

The NITDA Co-Create West Africa Tech Exhibition is a two-day event featuring over 10,000 attendees, 150 exhibitors, and a vibrant display of innovative startups and cutting-edge tech solutions.

Vesti’s presence at the event will further solidify its position as the preferredplatformforlegalandfinancialservicesfortheworld’sgrowing immigrant population. 550 million skilled individuals from highly populated developing nations struggle to find proper employment internationally, despite the world’s annual demand for 26.5 million skilled immigrants. Through programmes like Vesti WorldForce, the company empowers skilled immigrants with seamless migration and financial services, paving the way for global career opportunities.

“Partnership in the tech ecosystem is crucial for driving job creation and economic growth,” Director General of NITDA, Kashifu Inuwa Abdullahi, noted.

He said further that NITDA Co-Create West Africa Tech Expo is thrilled to welcome Vesti as a strategic part of the stellar expo, and believes in Vesti’s commitment to empowering immigrants through technology, building a future where everyone has the opportunity to reach their full potential.

AKURE TO BECOME TECH CAPITAL OF NIGERIA - GOV LUCKY AIYEDATIWA Governor LuckyAiyedatiwa has revealed that his desired vision to positionAkure as the tech capital of Nigeria. The announcement comes as part of the state’s broader strategy to foster innovation, technological advancement, and economic growth within the region in line with the State’s redeemed agenda.

Aiyedatiwa emphazsed the administration’s vision of the agenda, stating that digital education and entrepreneurship development is the last point of the redeemed acronym while receiving a briefing from the Chairman of the state’s entrepreneurship agency(Ondea) and Special Adviser, Dr Summy Smart Francis on the launch of the Tech awareness training programme that is set to commence on January 30th.

The Governor highlighted the administration’s commitment to creating an environment conducive to technological innovation and entrepreneurship for the empowerment of ondo state youth, towards job creation and skill acquisitions .

The tech awareness and development program is in conjunction with the State information and technology agency (SITA ) and other private local and international institutions, the program is set to run for 6 months and will help identify and develop young minds who are interestedintech,DrSmartstated,hefurtherstatedthattheprogramme will further help the Nation’s loss due to the excessive brain drain as Ondo state will take the lead in training and developing fresh skilled talents.

The programme will also assist trained beneficiaries with remote job placements across the world.

TheChairmanofSITA,HonAkinkugbeOlumbealsoemphasizedthe importance of education in this technological revolution. Plans include collaborations with educational institutions and the establishment of different programs to equip the youth with the necessary skills for the digital age. This strategic approach aims to create a talent pool that will drive Akure’s emergence as a hub for tech excellence.

Akure has already shown promise as a growing tech region with the presence of the Federal University of Technology Akure, Akure Tech Hub, Innovation Centre, private incubator hubs and the ongoing construction of the Entrepreneurship Village, dubbed africa’s silicon valley, with several successful startups and tech-driven initiatives emergingfromtheregion.Thegovernor’svisionbuildsontheseexisting foundations, leveraging the innovative spirit that already thrives in Akure to propel the city to new heights.

As the vision to makeAkure Nigeria’s tech capital takes shape, the state anticipates a future where technological innovation becomes a driving force for economic prosperity and societal advancement. With visionary leadership, strategic investments, and a community ready to embrace the digital future.

˜ ͯͷ ͰͮͰͲ ˾ T H I S D AY

30

METRO

…Your city life in print

Spotlight on Nigeria’s Silent Heroes For their service to humanity, Nigerians excelling in various fields of endeavours were recently recognised for impacting humanity positively within and outside their environment. Chiemelie Ezeobi reports that at the fifth edition of the Nigerian Silent Heroes Award, NSHA, the spotlight was on 25 of such heroes drawn from the security services to captains of industry, clergy, farmers, judiciary, lawmakers, civil servants, traditional rulers, technocrats, businessmen and women, and even the media

PR guru, Alex Nwankwo and Mr and Mrs Odita Sunday

Mr. Odita with CEO Security Watch Africa Initiatives, Mr. Patrick Agbambu

Odita with Ugboba monarch, HRM Agbogidi Nkebaku 111, Obi of Ugboba, Delta State

Former Minister of Women Affairs, Dame Pauline Tallen presenting Silent Hero in Business and Industry award to Deacon Sunday Chukwumanjo Umeoduagu, CEO of GABJANE Global Resources Limited

T

he fifth edition of Nigerian Silent Heroes Award (NSHA) was last year marked at Abuja Continental Hotel, formerly known as Sheraton Hotel and Towers, Abuja. At the event, honoured for their service to humanity were individuals from the security services, to captains of industry, clergy, judiciary, lawmakers, farmers, civil servants, traditional rulers, technocrats, businessmen and women, and even the media.

Organised by the NSHA Initiative, a non-governmental organisation, the annual event recognises humanity with an award that expresses the gratitude of society for their kindness towards fellow individuals, families, community and environment and their silent heroic service to country.

The initiative, which was conceived by the Coordinator, Mrs. Ozioma Odita Sunday, had in attendance former Director of DSS, Sir Mike Ejiofor; former Director General of Nigeria Institute of Advanced Legal Studies (NIALS) Prof (Sir) Epiphany Azinge, SAN; the Provost of Kogi State College of Health Sciences, Dr. Nuhu Solomon Anyegwu; the Obi of Ugboba, in Aniocha North LGA of Delta State; former Minster for Women Affairs, Mrs. Pauline Kedem Tallen, among other dignitaries.

Meanwhile, Dr Nuhu Solomon Antegwu was also invested as the Patron of the Silent Heroes Award Initiatives.

Concept of NSHA Speaking at the ceremony, the coordinator said the initiative was conceived to identify

and recognise some silent achievers in their own right.

She pointed out that the nominated persons were carefully selected among hundreds of others in view of the outstanding contributions they have made over the years in their various spheres to add value to humanity.

“In furtherance of the initiative, I like to disclose our intention to institute the Africa Heroes Awards in the nearest future with a view to celebrating our unsung achievers within the continent of Africa.”

Project Coordinator, Mrs Ozioma Odita-Sunday said: “Through this award, we look forward to inspiring more persons to become Silent Heroes.

This year ’s edition is the fifth in the series. We have recognised farmers, artisans, technocrats and uniformed people oiling our nation’s wheel of progress, as well as deliberately and silently shaping our nation for our next generation”.

Nigeria Silent Heroes Awardees Recipients of the award include: Air Vice Marshal Edward Gabkwet, Director Public Information Nigerian Air Force; Silent Hero in Business and Industry award to Deacon Sunday Chukwumanjo Umeoduagu, CEO of GABJANE Global Resources Limited; His Royal Majesty, Agbogidi Ezedimbu Emmanuel Nkebakwu 111, the Obi of Ugboba, in Aniocha North LGA of Delta State, Silent Hero in Traditional

Leadership; Dr Ebenezer Onyeagwu, Silent Hero in ICT Development; Mr Oliver Alawuba; Silent Hero in Transparent Banking Culture; Dr Solomon Arase, Silent Hero in Integrity and Good Governance; Rev Mercy Ezekiel, Silent Hero of Faith; AIG Idowu Owohunwa, Silent Hero in Policing; Dr Daniel Olukoya, Silent Hero of Faith; and Cardinal James, Silent Hero in Leadership.

Others include Mayor Bolivia Osigbemhe, Silent Hero in Music Industry; Desmond Utomweh, Silent Hero in Journalism (New Media); Engr.

A. Chichi Philip-Orioha, Silent Hero in Education Development; Pastor Jude Chukwunwike, Silent Hero in Local Government Administration; Barr. Samuel Ihensekhien, Silent Hero in Law and Advocacy; Dr. Adebayo Adedokun, Silent Hero in Medicine; and Mr. Frank Oshanugor, Silent Hero in Journalism (Print Media and Book Publishing).

Not left out were Hajia Husnah Nacho, Silent Hero in Business and Enterprise; Austine Adigwe, Silent Hero in Gospel Music; Chief Patrick Eholor, Silent Hero in Tourism, Hospitality Development; RT. Hon. Ahmad Chindo, a Silent Political Hero; Hon. Innocent Esewezie, a Silent Hero in Integrity and Good Governance; Alhaji Musa Mohammed, a Silent Hero in Trade Facilitation; Dibie Charles, Silent Hero in Farming and Food Security; and Haidar Daik, another Silent Hero; and Pastor Nobert Sochukwudinma, Silent Hero in

Leadership and Grassroot Politics.

Compendium of Nigerian Silent Heroes The organisers also unveiled a Magazine and a Compendium of the Nigerian Heroes Award volume one.

According to the organisers, “In our larger society, there are men and women who are silently working assiduously behind the scenes to oil our nation’s wheel of progress.

“These people are SILENT HEROES in their own right but have largely remained unsung and under-celebrated. Believe it or not, they are the reason our nation has made the modest progress recorded in different spheres in contemporary times.

“The book, “NIGERIA’S SILENT HEROES volume 1” is a documentation of some of the milestones of such hardworking individuals. Their achievements cut across diverse fields like Education, Security, Journalism, Industry, Oil and Gas, Real Estate, Governance etc.

“This compendium provides the reader with some insight into the rich profiles of these quiet Nigerians who have paid their dues to humanity.

“The spotlight on these “great” countrymen and women is intended to inspire upcoming young people to know and believe that hard work, integrity and consistency still have their dividends.”

In a vote of thanks, Dr. Odita Sunday appreciated all those who turned out for the award ceremony saying the ideology behind the award is to inspire young people to believe in hard work even in the face of challenging times.

T H I S D AY ˾ DAY Ͱ, ͰͮͰͲ

31

IMAGES

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

L-R: Chairman, Senate Committee on Agriculture, Salihu Mustapha; former Chairman, House of Representatives Committee on Agriculture Colleges and Research Institutions, Hon. Munir Dan’Agundi; and Country Representative of Women Farmers’ Association of Nigeria (WFAN ICON 2), Dr. Salamatu Garba, during a two-day Technical Consultation Workshop on the draft Agricultural Extension Services Delivery Revitalisation Bill in Abuja…recently

Representative of Kosofe federal constituency in the House of Representatives, Hon Rotimi Agunsoye (left), presenting an award of excellence to the Lagos State Commissioner of Police, Fayoade Adegoke (right), at the Gala Night of the newly appointed members of the National Institute Sec 45 Lagos Excel Group, held in Lagos...recently

President of the Senate, Godswill Akpabio (Ieft), and the Leader of the Senate, Opeyemi Bamidele, walking into the Senate Chamber following the resumption of the National Assembly after the Yuletide break, in Abuja…recently

The Director-General of Citizenship and Leadership Training Centre, Mr. Adesoji Eniade (left), decorating the National Youth Service Corps (NYSC) Director-General, Brigadier-General Yushau Dogara Ahmed (right), with the brooch of the Centre during Eniade’s visit to the NYSC National Directorate headquarters in Abuja… recently

L-R: Minister of Power, Chief Adebayo Adelabu; Statistician-General of the Federation, Prince Adewumi Adeniran; and Statistics Manager, International Energy Agency, Mrs. Zakia Adam, during the official launching of the Nigeria Residential Sector Energy Demand-side Survey in Abuja…recently PHOTO: ENOCK REUBEN

L-R: Minister of Finance and Coordinating Minister of Economy, Mr. Wale Edun; Minister of Works, David Umahi; Controller of Works in Lagos, Federal Ministry of Works, Mrs. Olukorede Kesha; Director of Construction, Buildwell Construction Company, Mr. George Mohanna; and Director, Highway Construction and Rehabilitation, Federal Ministry of Works, Mr. Adedamola Kuti, during the inspection tour of the Lagoon section of the Third Mainland Bridge in Lagos…recently

32

˜ Ͱ˜ ͰͮͰͲ ˾ T H I S D AY

BUSINESS/MONEYGUIDE

FG Commends Dangote Cement forVital Roles in Economic Diversification Gilbert Ekwugbe The federal government has commended the leading roles being played by the Dangote Group to complement government’s efforts to diversify the nation’s economy.

The commendation came even as the Ogun State government said the Dangote Cement is a key driver of the state’s economy with the citing of the continent’s second biggest cement plant in the state.

Minister of State for Environment, Dr. Iziaq Saloko made these remarks while on a familiarisation visit to Dangote Cement plant, Ibese, Ogun State. The visit was followed by a community engagement preparatory to the Expert Panel Review of the report of an Environmental Impact Assessment carried out on Coal milling at the Plant.

Salako declared: “Dangote Industries as a whole is an international conglomerate and

I am happy that the company is at the forefront of promoting best practices in terms of conception, planning, implementation, management of factories that are manufacturers like this.”

Salako and his entourage, who were received by the Plant Management led the Plant Director, Mr. Azad Nawabuddin, described mining as one of the key industrial sectors that President Bola Tinubu’s administration has targeted for economic diversification as the nation embarks on gradual shift from oil and gas dependency.

Speaking, Ogun State Commissioner for Environment, Ola Oresanya who represented the Governor, Dapo Abiodun said the state is a beneficiary of Dangote Cement presence with the amount of levies and taxes it has paid into the state coffer.

He called for a more col-

laboration between the state agencies and the company noting that the state was not unaware of the activities of the plant to lift its host communities.

He added that the state would be mote than ready to assist the company in any way possible.

In his remark, the Plant Director, Mr. Nawabuddin took the minister through the social investments and infrastructural milestones recorded by the Plant since inception, saying the Company has been able to substantially contribute to infrastructure development and employment in the host communities.

He told the Minister that the plant deals with 17 host communities across Yewa North and Ewekoro Local Government Areas of the state, saying they have greatly felt the impacts of the company through empowerment programmes and provision of infrastructure.

L – R: Head, Broker Dealer Regulation, NGX Regulation Limited, Femi Shobanjo; Ex-Officio, Association of Securities Dealing Houses of Nigeria (ASHON), Patrick Ezeagwu; Group Chief Executive Officer, Nigerian Exchange Group (NGX Group), Temi Popoola; Chairman (ASHON), Sam Onukwue; Group Chairman, NGX Group, Umaru Kwairanga; Acting Chief Executive Officer, Nigerian Exchange Limited (NGX), Jude Chiemeka and 2nd Vice Chairman, ASHON, Ify Rita Ejezie during a courtesy visit by ASHON to Nigerian Exchange Group in Lagos yesterday

MARKET INDICATORS

SaudiArabia to Host Largest-ever UN Conference on Land,Drought Michael Olugbode ÓØ ÌßÔË The Kingdom of Saudi Arabia and the United Nations Convention to Combat Desertification (UNCCD) have signed an agreement paving the way for the 16th session of the Convention’s Conference of the Parties (COP16) in Riyadh from 2-13 December 2024.

According to a statement, the Riyadh COP16 will be the largest-ever meeting of UNCCD’s 197 Parties, the first to be held in the Middle East region and the largest multilateral conference ever hosted

by Saudi Arabia. 2024 also

marks the 30th anniversary of the UNCCD, one of the three major environmental treaties known as the Rio Conventions, alongside climate change and biodiversity.

At the signing ceremony in Riyadh on Wednesday, Eng. Abdulrahman Abdulmohsen AlFadley, Saudi Minister of Environment, Water and Agriculture and COP16 President, said: “The hosting of the conference (COP16) in the Kingdom of Saudi Arabia reflects the commitment of the wise leadership to environmental protection at the national, regional, and international

levels. Additionally, Saudi Arabia launched several groundbreaking environmental projects, such as the Saudi Green Initiative and the Middle East Green Initiative.”

UNCCD Executive Secretary Ibrahim Thiaw said: “Today, we are losing fertile lands at an alarming rate, jeopardizing global stability, prosperity and sustainability. The Riyadh COP16 must mark a turning point in the way we treat our most precious resource—land—and collectively tackle the global drought emergency.”

Asseco Nigeria, Asseco Data Systems to Empower Software Developers Within the frame of its partnership agreement with Asseco Data Systems (ADS) signed in January 2022 for the provision of IT services to the Asseco Group, Asseco Software Nigeria (ASN) will be receiving some advanced software development and technology implementation trainings from ADS over the course of 2024.

The partnership between ASN and ADS aims at providing qualified Nigerian software developers to join

ADS’ software development projects. For the purpose of hiring, training and retaining such skilled professionals, the companies have designed jointly a specific and customized training program.

The program is open to Nigerian IT undergraduates at the end of their studies, as well as Asseco Nigeria’s junior technical staff, who will be trained on software development lifecycle, the C4 software architectural model, business & system analysis. CEO of As-

seco Nigeria, - Simon Melchior said, “ADS is a global leader in Trust Services, CERTUM, SimplySign and Signer are recognized brands and for us to join in the development lifecycle of these products is a great learning opportunity.

I am sure that through this program, our trainees will learn global best practices in terms of software development and become even more valuable stakeholders in our national and regional digital journey.”

Pipeline Security: Schneider Electric Promotes Adoption of Smart Technology Oluchi Chibuzor Global Automation and Energy Management leader, Schneider Electric, has called for a widespread adoption of smart technology for resilient pipeline infrastructure to guarantee energy security and a sustainable energy future for Nigeria.

According to the firm there is an urgent need for Nigeria’s energy security and sustainability for speedy industrialization and economic growth through the lens of securing the nation’s critical pipeline infrastructures

(CPI).

Speaking at the Nigeria International Pipeline Technology and Security Conference (NIPITECS), Process Automation Specialist, Schneider Electric, Damiete Thomas, said there was an imperative need to incorporate proven and reliable smart solutions on the nation’s critical pipeline infrastructure.

According to him, “These technologies should be evaluated and made the basis upon which pipelines are conceptualized, designed, constructed, and managed to prevent frequent intrusion leading to operational

failures as we are currently experiencing. Artificial Intelligent technologies that will enable accurate real-time monitoring of the pipeline infrastructure, predict scenarios, forecast challenges, and prevent a digital breach-cybercrime.

“Schneider Electric is at the center of implementing artificial intelligence enabled and cybersecurity solutions for accurate, real-time, and secure monitoring that predict scenarios and forecast challenges on the pipeline infrastructures for effective and efficient operational gains.

MONEY AND CREDIT STATISTICS (MILLION NAIRA) NOVEMBER, 24

Money Supply (M3)

72,014,274.74

-- CBN Bills Held by Money Holding Sectors

1,245,804.25

Money Supply (M2)

71,331,641.40

-- Quasi Money

45,146,611.59

-- Narrow Money (M1)

26,185,029.81

---- Currency Outside Banks

3,081,255.46

---- Demand Deposits

23,103,774.40

Net Foreign Assets (NFA)

32,212,549.50

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

39,801,725.20

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

59,737,156.08

--Other Assets Net

4,720,308.20

Reserve Money (Base Money

22,908,392.34

--Currency in Circulation --Banks Reserves --Special Intervention Reserves

3,347,716.33 19,560,676.02 0.00

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

December 2024

Inter-Bank Call Rate

16.99

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

18.75

Treasury Bill Rate

8.93

Savings Deposit Rate

5.28

1 Month Deposit Rate

7.24

3 Months Deposit Rate

7.56

6 Months Deposit Rate

8.42

12 Months Deposit Rate

9.75

Prime Lending rate

14.17

Maximum Lending Rate

26.62

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

a P to w w s

OPEC DAILY BASKET PRICE AS AT 24TH JANUARY , 2024

The price of OPEC basket of twelve crudes stood at $81.30 a barrel on Tuesday, compared with $79.70 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

A a s fo

˜ Ͱ˜ ͰͮͰͲ ˾ T H I S D AY

33

MARKET NEWS

BUA Foods Declares 22% Growth in Profit to N111.5bn Kayode Tokede BUA Foods Plc has announced A profit after tax of N111.5billion for the fiscal year ending December 31, 2023 as against N91.34 billion reported in 2022 financial year, an increase of 22 per cent The company’s unaudited results announced on the Nigerian Exchange Limited (NGX) showed that its profit before tax

that increased significantly by 12.6 per cent to N120.8 billion in 2023 compared to N107.2 billion in 2022. The leading food business with well-diversified and scalable operations recorded an impressive revenue growth of N728.5 billion, representing a 74 per cent increase compared to 2022 earnings of N418.3 billion amidst global headwinds.

Gross earnings increased by 89 per cent to N251.32 billion, with

P R I C E S MAIN BOARD

F O R DEALS

earnings per share growing by 22 per cent from N5.07 in 2022 to N6.20 at the end of 2023.

Additionally, following a slight selling price adjustment within the period under review, the gross profit margin appreciated by 280 basis points to 34.5per cent. BUA Foods’ 2023 impressive financial result was driven by a y-o-y increase of 53per cent in Sugar revenue to N421.5 billion, 152per cent in Flour to N216.9

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

billion and 54 per cent in Pasta to N87.9 billion (12months of 2022: N57.2 billion) demonstrating the Company’s resilience and commitment to excellence in its strategy, financials, capital market performance, social governance and future outlook.

Key earning drivers for 2023 include production volumes and assets growth that witnessed an outstanding 82per cent surge in operating profit, reaching

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

an impressive N213.2 billion compared to N117.4 billion in the same period in 2022.

This remarkable growth is attributed to strategic price adjustments and a significant volume boost resulting from the successful capacity expansion of its IRS production facility. Assets also increased by 21per cent to N734billion.

The company maintained a strong profit margin throughout

F E B R U A RY DEALS

the year, reflecting effective cost management and strategic financial planning. BUA Foods also witnessed a dynamic performance across its operating segments, showcasing a strategic and diversified approach to revenue generation. Despite varying revenue growth across each division, BUA Foods has demonstrated a cohesive strategy, leveraging market dynamics to achieve impressive financial results.

/ 0 1 / 2 4 MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

Friday, February 2, 2024

Thisday Afrinvest Index up 4.1% Thisday Afrinvest 40 index appreciated by 4.1% to close at

THISDAY AFRINVEST 40 INDEX

ϰϰϯϵ͘ϲϳ ŝŶĚĞdž ƉŽŝŶƚƐ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ GTCO (10.0%), ZENITH (10.0%), and ACCESS ;ϵ͘ϵйͿ͘ ƵŵƵůĂƟǀĞůLJ͕ ƚŚĞƐĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϭϵ͘ϱй ŽĨ ƚŚĞ ŝŶĚĞdž͘

ƵůůƐ ŬŝĐŬ Žī &ĞďƌƵĂƌLJ͙ ASI up 1.6% 1

dŽĚĂLJ͕ ƚŚĞ ĚŽŵĞƐƟĐ ďŽƵƌƐĞ ŐĂŝŶĞĚ ϭ͘ϲй ƚŽ ĐůŽƐĞ Ăƚ ϭϬϮ͕ϴϬϮ͘Ϯϱ ƉŽŝŶƚƐ͕ ďƵŽLJĞĚ ďLJ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ h &KK ^

zd ƌĞƚƵƌŶ ĂĚǀĂŶĐĞĚ ƚŽ ϯϳ͘ϱй ;ƉƌĞǀŝŽƵƐůLJ͗ ϯϱ͘ϯйͿ ǁŚŝůĞ ŵĂƌͲ ŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ േϵϬϭ͘ϴďŶ ƚŽ േϱϲ͘ϯƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů varied as volume traded rose 14.9% to 861.0m units while ǀĂůƵĞ ƚƌĂĚĞĚ ĚŝƉƉĞĚ ϰϲ͘Ϭй ƚŽ േϭϮ͘ϮďŶ͘

Bullish Sector Performance

ǁĂƐ ƉŽƐŝƟǀĞ ĂƐ ĮǀĞ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ ǁŚŝůĞ ŽŶĞ ůŽƐƚ͘ dŚĞ Bank-

ƟǀĞůLJ͕ ĚƌŝǀĞŶ ďLJ ŐĂŝŶƐ ŝŶ E/d, ;нϭϬ͘ϬйͿ͕ h ;нϵ͘ϴйͿ hͲ &KK ^ ;нϰ͘ϵйͿ͕ ĂŶĚ E'^h' Z ;нϵ͘ϵйͿ͘ dŚĞ Insurance and Industrial Goods indices followed suit, gaining 2.2% and Ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ h^dK / E ;нϱ͘ϲйͿ͕

THISDAY AFRINVEST 40

4439.67

4.10%

Airtel Africa PLC

2,000.00

Current Price Change Weighting YTD

Price Change Index to Date

ROE

ROA

P/E

5.8x

0.0%

88.0%

344.0%

13.6%

3.1%

12.1%

6.0%

6.0%

4.5%

1.3%

P/BV

Divindend Earnings Yield Yield

1.4x

3.8%

ot Applicable

2.0%

9.3%

MTN Nigeria Communications PLC

275.00

-2.1%

8.4%

4.2%

4.2%

85.8%

8.6%

23.7x

18.7x

5.7%

4.2%

Guaranty Trust Holding Co PLC

40.70

10.0%

7.4%

0.5%

0.5%

38.3%

5.6%

2.8x

1.0x

8.1%

35.3%

4

Zenith Bank PLC

38.60

10.0%

6.6%

-0.1%

-0.1%

27.6%

3.0%

2.7x

0.6x

9.9%

36.7%

24.95

9.9%

5.5%

7.8%

7.8%

20.5%

1.5%

3.3x

0.6x

6.7%

30.5%

Access Holdings PLC

6

United Bank for Africa PLC

26.80

9.8%

5.2%

4.5%

4.5%

39.5%

3.9%

1.9x

0.5x

6.0%

53.9%

7

Dangote Cement PLC

763.00

0.0%

9.4%

138.5%

138.5%

40.4%

15.3%

29.6x

9.8x

2.9%

3.4%

8

SEPLAT Energy PLC

3,074.60

0.0%

4.5%

33.1%

33.1%

1.5%

0.8%

44.5x

0.7x

2.3%

2.2%

9

Lafarge Africa PLC

39.55

9.9%

3.9%

25.6%

25.6%

11.6%

7.9%

13.3x

1.5x

5.9%

7.5% 71.4%

10

Ecobank Transnational Inc

26.60

0.0%

3.1%

27.3%

27.3%

26.9%

1.2%

1.4x

0.4x

1.9%

11

Transnational Corp of Nigeria

14.00

8.0%

3.4%

61.7%

61.7%

11.9%

3.0%

38.7x

4.6x

0.4%

2.6%

12

FBN Holdings Plc

23.85

9.9%

4.9%

1.3%

156.5%

24.9%

2.3%

3.1x

0.6x

2.1%

32.6%

13

Fidelity Bank PLC

11.70

9.9%

2.1%

7.8%

7.8%

26.2%

2.1%

3.7x

27.1%

1,090.00

0.0%

1.8%

-0.9%

-0.9%

0.0%

1.7%

-6.7%

-6.7%

31.5%

3.4%

14

Nestle Nigeria PLC

15

Stanbic IBTC Holdings PLC

65.00

16

BUA Foods PLC

285.00

4.9%

2.3%

47.4%

47.4%

54.0%

18.0%

270.00

0.0%

1.6%

3.8%

3.8%

47.0%

24.2%

Okomu Oil Palm PLC

0.9x

5.2%

#N/A N/A

3.3%

-3.1%

6.1x

1.8x

5.4%

16.3%

26.3x

20.1x

1.6%

3.8%

5.9x

1.7%

-0.2%

7.2x

2.2%

0.3%

2.7x

2.8%

-19.1%

-6.1%

18

Dangote Sugar Refinery PLC

74.65

9.9%

1.5%

31.0%

31.0%

2.2%

0.5%

19

Nigerian Brew eries PLC

37.00

0.0%

1.0%

2.8%

2.8%

-39.6%

-9.3%

20

AXA Mansard Insurance PLC

6.00

2.4%

1.1%

9.1%

9.1%

40.8%

11.2%

4.0x

1.4x

1.9%

24.8%

67.75

10.0%

1.1%

26.0%

26.0%

60.2%

19.8%

6.5x

6.6x

1.6%

15.4% 29.5%

21

ing and Consumer Goods ŝŶĚŝĐĞƐ ƌŽƐĞ ϳ͘ϴй ĂŶĚ ϰ͘ϰй ƌĞƐƉĞĐͲ

Previous Price Change

2

17

Yesterday, performance across sectors within our coverage

Current Price

3

5

(+4.9%), ZENITH (+10.0%), and GTCO (+10.0%). Consequently,

Ticker

NASCON Allied Industries PLC

319.1x

22

FCMB Group Plc

9.80

9.5%

1.1%

32.4%

32.4%

18.0%

1.7%

3.4x

0.5x

3.1%

23

Flour Mills of Nigeria PLC

39.00

0.0%

1.0%

18.0%

18.0%

9.6%

1.6%

8.5x

0.8x

5.8%

24

International Brew eries PLC

5.20

5.3%

0.8%

8.3%

8.3%

-37.7%

-9.3%

25

Geregu Pow er PLC

26

Sterling Financial Holdings Co

1.2x

568.00

0.0%

1.1%

42.4%

42.4%

35.0x

1.6%

6.00

5.8%

1.1%

39.9%

39.9%

#N/A N/A

2.9%

27

PZ Cussons Nigeria PLC

33.10

0.0%

0.8%

24.0%

24.0%

-106.3%

-14.9%

28

United Capital PLC

23.20

6.2%

0.6%

0.9%

0.9%

22.9%

1.6%

29

Chapel Hill Denham Management

114.00

0.0%

0.6%

0.0%

0.0%

15.8x 13.4x

11.8% -33.9%

-20.3%

2.3x

6.9%

ot Applicable

13.9%

7.5%

30

Transcorp Hotels Plc

97.40

0.0%

0.8%

38.8%

38.8%

6.9%

3.7%

218.6x

14.9x

0.1%

31

Presco PLC

259.00

0.0%

0.6%

34.2%

34.2%

45.9%

13.7%

12.6x

5.1x

3.5%

8.0%

K E K ;нϵ͘ϵйͿ ĂŶĚ d ZE ;нϬ͘ϱйͿ ƉƵƐŚĞĚ ƚŚĞ Oil & Gas

32

Multiverse Mining and Explorat

17.00

0.0%

0.4%

-8.5%

-8.5%

42.2%

5.9%

186.3x

5.2x

0.3%

0.5%

33

Guinness Nigeria PLC

63.70

0.0%

0.4%

ŝŶĚĞdž ŚŝŐŚĞƌ ďLJ ϮďƉƐ͘ ŽŶǀĞƌƐĞůLJ͕ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ DdEE ;-

-3.5%

-3.5%

-42.1%

-11.2%

34

BUA Cement Plc

185.00

0.0%

0.7%

90.7%

90.7%

25.0%

12.6%

62.1x

15.2x

1.6%

1.6%

35

TotalEnergies Marketing Nigeri

346.50

0.0%

0.3%

-10.0%

-10.0%

28.3%

3.9%

8.2x

2.2x

6.1%

12.3%

36

Oando PLC

12.80

9.9%

0.3%

21.9%

21.9%

3.2%

4.2x

#N/A N/A

10.80

8.0%

0.4%

92.9%

92.9%

23.1%

1.3%

6.2x

1.2x

2.8%

16.1% 13.7%

// K ;нϱ͘ϲйͿ͕ ĂŶĚ t W K ;нϵ͘ϵйͿ͘ WƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ

2.1%) pushed the &Z-ICT index lower by 91bps .

37

Wema Bank PLC Julius Berger Nigeria PLC

57.95

0.0%

0.3%

34.8%

34.8%

14.5%

1.7%

7.3x

1.1x

4.8%

Unilever Nigeria PLC

19.50

4.6%

0.2%

31.8%

31.8%

12.0%

6.9%

11.2x

1.5x

1.3%

40

Notore Chemical Industries Ltd

62.50

0.0%

0.0%

0.0%

0.0%

-140.7%

-24.8%

T ic k er

ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϭϴ ĚĞĐůŝŶĞĚ͕ ǁŚŝůĞ ϰϵ ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƚŽ ĨŽůůŽǁ ƐŝŵŝůĂƌ ƚƌĞŶĚ ŽŶ ƚŚĞ ďĂĐŬ of strong corporate performance.

2.0x

Vo lum e

P ric e C hg %

UN IVIN SUR E

113.8

-7.7%

T R A N SC OR P

91.0

8.0%

10.0%

Z EN IT H B A N K

74.3

10.0%

P ric e

P ric e C hg %

CHA M S

2.64

10.0%

GT C O

40.70

10.0%

C A VER T ON

1.87

T ic k er

VER IT A SKA P

0.66

10.0%

UB A

69.2

9.8%

N A SC ON

67.75

10.0%

VER IT A SKA P

58.7

10.0%

Z EN IT H B A N K

38.60

10.0%

J A P A ULGOLD

46.2

9.9%

D A N GSUGA R

74.65

9.9%

J A IZ B A N K

32.8

8.9%

32.4

10.0%

J A P A ULGOLD

2.88

9.9%

GT C O

A C C ESSC OR P

24.95

9.9%

A C C ESSC OR P

27.2

9.9%

FB NH

23.85

9.9%

ST ER LIN GN G

24.6

5.8%

T o p 10 T r a d e s b y V a l u e

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

D EA P C A P

0.73

-9.9%

Z EN IT H B A N K

2760.9

10.0%

C WG

6.85

-9.9%

UB A

1717.1

9.8%

1286.8

10.0%

R T B R ISC OE

0.64

-9.9%

GT C O

UP L

3.33

-9.8%

T R A N SC OR P

1155.6

8.0%

M C N IC H OLS

1.44

-9.4%

A C C ESSC OR P

637.8

9.9%

SUN UA SSUR

1.66

-9.3%

M TNN

492.1

-2.1%

UN IVIN SUR E

0.36

-7.7%

UC A P

391.2

6.2%

UP D C

1.67

-7.2%

N A SC ON

376.8

10.0%

M A YB A KER

5.80

-6.6%

D A N GSUGA R

299.4

9.9%

-4.8%

WA P C O

262.1

9.9%

P R EST IGE

0.60

8.9% -71.9%

T o p 10 T r a d e s b y V o l u m e

T o p 10 L o s e r s

Afrinvest West Africa Limited

23.7%

38

T o p 10 G a i n e r s

proved to 0.71x from -Ϭ͘ϴϭdž ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϱϯ

-19.6%

39

Outlook

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ŝŵͲ

2.7x

0.5%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

35

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

EKITI SECURITY ON THEIR MINDS...

L-R: Governor of Ekiti State, Biodun Oyebanji; Inspector-General of Police, Kayode Egbetokun and Senate Majority Leader, Opeyemi Bamidele, during a courtesy call on the IG in Abuja... yesterday

Polls: IG Orders Massive Deployment of Police Assets, Restriction of Movement

Kingsley Nwezeh in Abuja

The Inspector General of Police, Kayode Egbetokun, yesterday, ordered the restriction of all forms of vehicular movement on roads, waterways, and other forms of transportation from 12 a.m. to 6 p.m. on election day in all states, where elections will be conducted for run-off and bye-elections.

The affected states include Ebonyi, Yobe, Kebbi, Lagos, Ondo, Taraba, Benue, Borno, Kaduna, Plateau, Akwa Ibom, Anambra, Cross River, Delta, Enugu, Jigawa, Katsina, Adamawa, Bauchi, Bayelsa, Kano, Nasarawa, Niger, Oyo, Sokoto, and Zamfara.

A statement by the Force Headquarters stated the exception to order with regards to movement on election day include those on essential services such as INEC officials, electoral observers, accredited media and observers both foreign and domestic, ambulances responding to medical emergencies,

and firefighters, among others.

The IG also ordered a ban on all security aides to VIPs and escorts from accompanying their principals and politicians to polling booths and collation centers during the election.

The statement signed by the Force Public Relations Officer and Assistant Commissioner of Police (ACP), Olumuyiwa Adejobi, explained that state established and owned security outfits and organisations, quasi-security units and privately owned guard and security outfits were also barred from participating in election security management.

It said the movement restrictions, including the ban on VIP aides, escorts, and state security outfits, were crucial measures aimed at preventing any undue interference or intimidation during the electoral process.

"The IGP emphasises that these restrictions are implemented to safeguard the integrity of the elections and guarantee equal

participation for all citizens of the affected states," it said.

The IG urged political parties, candidates, and their supporters

to conduct themselves responsibly and in accordance with the electoral laws as any attempt to disrupt the electoral process or violate

the established guidelines will be met with the full force of the law.

The IG expressed confidence that through collective efforts, the

upcoming run-off and bye-elections would be conducted peacefully, transparently and in line with the principles of democracy.

Excluding PDP from Plateau Rerun Contrary to Court Judgment Chuks Okocha in Abuja The Independent National Electoral Commission (INEC), might have excluded the logo of the Peoples Democratic Party (PDP) in the ballot for the scheduled Saturday rerun polls for Plateau North Senatorial district, contrary to court judgment.

The Court of Appeal judgement which ruled on the Plateau matter had said all parties should contest in the re-run.

But the PDP logo was discovered missing on the ballot papers during inspection of the material at the Central Bank of Nigeria (CBN) office

in Jos, the state capital before INEC commenced distribution to the six local government areas.

While the PDP logo was conspicuously missing on the ballot papers, those of the APC, PRP and LP were printed on the ballot.

The discovery, however, created tension within the vicinity of the CBN as officials of the party assigned to witness the distribution exercise protested the non-inclusion of their party logo on the ballot.

The PDP members and supporters, who accused the Electoral body of behaving like APC members, later moved to state INEC

headquarters in Jos and protested over the exclusion of the party in the ballot for the re-run election scheduled for February 3, 2023.

Officials of the INEC assured the PDP members that the issue would be adequately addressed.

The PDP members equally demanded to see the ballot and inclusion of the PDP logo on the ballot for the Plateau North Senatorial District and Bassa/Jos North Federal Constituency where the re-rerun were expected to take place same Saturday.

Already, there had been insinuations in the opposition

camp that the PDP and its candidates might not participate in the re-rerun poll following the Court of Appeal judgement which nullified the elections in the two constituencies that were won by the PDP candidate, Senator Simon Mwadkwon.

The Court of Appeal had based the nullification of their elections on the ground that the PDP which nominated them as candidates had no structure.

In compliance with the Court of Appeal decision, INEC announced February 3, 2024 as the scheduled date for the rerun elections.

IPAC Threatens Boycott as PDP is Excluded NNPP: We're Fully from Ballots in Plateau North Re-run Prepared for Rerun Seriki Adinoyi in Jos

Juliet Akoje in Abuja The New Nigeria People's Party (NNPP) has said it was fully prepared for the rerun polls in some states come February 3, 2024.

Acting National Chairman of NNPP, Abba Kabir Yusuf, while briefing the press on Wednesday in Abuja, stated that names of the party's candidates had been uploaded by the Independent National Electoral Commission (INEC).

"Let me inform the public that NNPP is fully prepared to take part in Saturday, February 3, 2024 Re-run and bye-elections in about 26 States of the Federation.

“INEC has published the names of our Candidates. We have also uploaded the particulars of our polling agents. We are therefore

calling on Nigerians to cooperate with INEC to deliver a credible poll on Saturday.

"In the same vein, as you are all aware, INEC has fixed off-cycle elections for Edo and Ondo States to hold later in the year. The party had commenced the sale of forms for Edo State,” adding that “primaries will hold on February 23rd to pick our Candidate."

He further said, "The sale of forms for Ondo will commence in April. At our end here, we are very busy with the administration of the party and we will never be distracted by this group of renegade political hooligans."

He warned those who were expelled from parading themselves as authentic members of the party, saying the party would not hesitate to drag them to court.

Inter-Party Advisory Council (IPAC) has threatened that all parties in Plateau State would withdraw from participating in tomorrow's re-run election in Plateau North Senatorial zone and Jos North/Bassa federal constituency following the exclusion of Peoples Democratic Party (PDP) from the ballots.

But the All Progressives Congress (APC) and the Labour Party have reacted to IPAC’s position, stating that they would not withdraw from the contest, and described IPAC’s action as throwing caution overboard.

The Independent National Electoral Commission (INEC) had yesterday defended the exclusion of PDP from the ballots in the re-run election, saying the disqualified party and its candidates were not fit to participate in the polls.

According to the INEC National

Commissioner in charge of the North-Central geopolitical zone, Mohammed Haruna, during the inspection of sensitive materials for the elections, in Jos, the commission held a meeting with political parties where it told them that disqualified parties and candidates would not participate in the election.

“We had a meeting with political parties right before now and told them that in a rerun, disqualified candidates and political parties cannot participate.

“This is an established law. The Supreme Court has ruled about it in Labour versus INEC several years ago and the PDP was a beneficiary of this several years ago.

“INEC is a law-abiding institution.

We never flaunt any law. We called a meeting of all political parties on this subject.

“The PDP went to court and the Federal High Court declined

jurisdiction, what that simply means is that the ruling by the Court of Appeal subsists, and we have to obey the court, our hands are tied by the court in this regard.

“What the court said is what we are going to do whether it is right or wrong unless it is set aside,” he maintained.

But reacting to INEC’s position, IPAC in the state through its chairman, Abubakar Dogara, said, “The position of IPAC is that it is either PDP participates in the election or all parties will not take part because the Court of Appeal said all political parties should participate in the election.

“We noticed that one of us is not on the ballot papers and, therefore, we sat down and agreed that an injury to one is an injury to all, therefore, if PDP is not participating, no political party will participate.

“INEC during its meeting did not

inform us that one of us would not be part of the elections. We were told that the list of parties that will take part in the election would be forwarded to us within a week, that was on the 9th of January but we never got that list till now, just two days to the election.

“We prefer peace on the Plateau rather than elections or anything. We know how fragile the issue of peace is on the Plateau, we are trying to avert anything that will take us to the doom days,” he stressed.

But APC in a press statement said IPAC is on its own on the matter as it does not hold the same position.

The statement signed by APC Publicity Secretary in the state, Sylvanus Namang, stated that, “For the avoidance of doubt, APC hereby totally and unequivocally dissociates itself from the position of IPAC which is purportedly given on behalf of all political parties in the state.”

Ex-IGP's Son, Ehindero, Vows to Prioritise Constituents’ Welfare if Elected Fidelis David in Akure Son of a former Inspector General of Police (IGP) Ife Ehindero, has promised to prioritise the welfare of his constituents if elected in the Saturday by-election in Ondo State.

Ehindero, candidate of the ruling All Progressives Congress (APC) for the House of Representatives bye-election into the Akoko North

East/Akoko North West Federal Constituency, made the pledge at the grand finale of the campaign of the party held at the Cenotaph ground in Ikare Akoko yesterday.

The APC candidate, who noted that the well-being of the people had always been his desire, said he was prepared to bring in fresh ideas for the growth and development of the federal constituencies.

He explained that the former occupant of the seat, Olubunmi Tunji-Ojo, who had been appointed as the Minister of Interior by President Bola Tinubu, brought life to the federal constituencies with developmental projects, stressing that he was ready to replicate his hard work if elected.

"No doubt, our people want growth and development and I

am ready to prioritised their welfare with fresh ideas. Our programmes are enriched with what would put smile on the faces of our people in the constituencies.

"So, by the grace of God. I am going to win and the winning will be for the benefit our people because the former occupier of the seat did well. I will surely replicate his good work in the

National Assembly by attracting development," he said.

Earlier, Governor Lucky Aiyedatiwa, who was at the campaign ground with members and stalwarts of the APC led by the State Chairman, Ade Adetimehin, emphasised the importance of collective support for Ehindero ahead of the election exercise.

Aiyedatiwa said the ruling

party could not afford to lose the weekend election, noting that grassroots mobilisation was also important in security victory for the APC. "This is an election that we must all rally and queue behind our candidate on Saturday by ensuring APC wins. Ife Ehindero is our own and he must win," the governor said.

36

T H I S D AY • FRIDAY, FEBRUARY 2, 2024

NEWS

MINISTER OF POWER VISITS NGF...

Executive Director Research and Strategy Nigeria Governors' Forum (NGF), Alhaji Abdullateef Shittu; Director-General Nigeria Governors' Forum, Ashishana Bayo Okauru; Minister of Power, Adebayo Adelabu, during their visit to the Nigeria Governors' Forum office in Abuja.. recently KINGSLEY ADEBOYE

IG Condemns Ekiti Killings, Deploys AIG, Additional Personnel, Assets to State Commiserates with families of slain traditional rulers Kingsley Nwezeh in Abuja The Inspector-General of Police, Kayode Egbetokun, has condemned in strong terms the recent killing of two traditional rulers in Ekiti State.

The traditional rulers were Oba Samuel lOlatunji, the Olumojo of Imojo-Ekiti and Oba David Ogunsakin, the Elesun of Esun-Ekiti in Ekiti State and the abduction of school pupils and teachers in Emure-Ekiti.

He, therefore, took immediate steps to address the security challenges in the region.

To ensure the swift restoration of peace and order, the IG ordered the immediate deployment of Assistant Inspector General of Police, AIG

Abiodun Asabi to Zone 17 Akure, along with additional personnel and assets.

A statement by Force Headquarters said the newly posted AIG was given the mandate to oversee a comprehensive and

coordinated security response to bring an end to the unfortunate security incidents in Ekiti and parts of Ondo State and ensure proper coordination among security agencies for optimum effectiveness in tackling the security concerns

Senate Seeks Partnership With Germany over Insecurity Nwoko advocates citizen armament for self-protection Kingsley Nwezeh, Adedayo Akinwale, Sunday Aborisade in Abuja and Nume Ekeghe in Lagos President of the Senate, Godswill Akpabio, has called on the German Government to collaborate with its Nigerian counterpart in the areas of security and electricity to enhance the socio-political development of the country.

This was as the Senator representing Delta North senatorial district, Ned Nwoko, has emphasised the necessity of his proposed bill allowing Nigerians to carry firearms inresponse to the escalating insecurity in the country.

Akpabio made the call when he led some of his colleagues to receive in courtesy, the German Ambassador to Nigeria, Annette Gunther, in his office on Wednesday.

This was contained in a statement by the Special Assistant to the Senate President on Media, Mr Jackson Udom.

Akpabio said, "We are looking for partnership and guidance from Germany in the area of security and power generation.

"There is no doubt that we enjoy a very robust relationship with Germany and I see a much better relationship between Nigeria and Germany under your tenure as the Ambassador.

"Nigeria wants to improve on the existing relationship between us, and the Nigerian Parliament would be very glad to join the President Bola Tinubu-led administration to improve on that relationship.

"Anything we need to do in terms of legalising or in terms of legislation to make most of the policies and

programmes that you are embarking on with the government possible, would be done. We want more German companies to join those that are already here.

The German Envoy said she was honoured to be received by the Senate President and his colleagues, assuring his hosts, of the commitment of Germany to assisting Nigeria to over come its security and power challenges.

"We are honoured to be here today. Nigeria and Germany being the largest economies and population in their respective continents, needs to come together in their peoples' interest. Nigeria is Germany's second largest trading partner in sub-Sahara Africa.

"The Siemens' energy project is often mentioned by President Bola Ahmed Tinubu, and I hope this may be our small contribution to improving electricity in the country.

Germany is very active in somany areas like climate change and energy, she stressed.”

The security situation in Nigeria, she noted, " is worrisome to Germany as well as Nigeria. We have taken that up already because it is the most important prerequisite for socio- economic development, peace and human development.

"The security sector support reform is also where Germany is deeply involved. Over the years, we have spent quite a lot of money and we are very happy to see that going well under the leadership of the Natonal Security Adviser," Gunther stated.

Nwoko, in an interview with Arise News, yesterday, reiterated that security agencies had become

incapable of protecting Nigerian citizens.

He noted the insufficient funding and manpower of the police force has rendered the security agencies unable to effectively protect citizens.

“My bill is predicated on the lawlessness that is currently pervading the nation. We all have experienced it or we know someone who has experienced it.

“We have come to a point in this nation where we have to make an honest admission to ourselves, which is that the security agents cannot

really protect lives and properties as stated in the constitution.

“The common man is left to his fate. He does not get any kind of support from the police and the police force is unequipped, ill-funded, not capable of discharging those onerous duties and that is the fact.

“I am in the senate committee on police matters and I can tell you that we do not have the number of police men that we need to secure Nigeria as a country.

“The military on the other hand, has been spending billions of naira

over the years, buying warplanes, different arms and ammunition in the name of fighting terrorism and other crimes.

“But they are also not able to deal with the issues and a lot of money has been spent and lives lost, and we are nowhere in finding solutions.”

“The idea of a bill to enable Nigerians to carry arms to defend themselves is borne out of desperation, the fact that people do not have the kind of protection that they need.”

within Ekiti State.

The IG expressed his deepest condolences to the government and people of Ekiti State, the families and loved ones of the deceased traditional rulers, whose lives were tragically cut short during these incidents.

It said preliminary investigations had led to the arrest of 13 suspects, who were currently assisting the police with the investigation process.

"The Inspector General of Police hereby reiterates the commitment of the NPF to ensuring that justice is served and those responsible for these heinous acts are brought to book while assuring the public that every necessary measure will be taken to apprehend the perpetrators and prevent a recurrence of such incidents," it explained.

The statement added that, "Members of the public are urged to remain calm, vigilant, and cooperative with the police and other security agencies, as we work to restore peace and security to the affected areas."

Edo 2024: Ighodalo Gets Oredo PDP Leaders’ Support Adibe Emenyonu in Benin City Leaders and members of the Peoples Democratic Party (PDP) in Oredo Local Government have thrown their weight behind an aspirant in the coming governorship election in Edo state, Asue Ighodalo.

The leaders said they had adopted him as their consensus aspirant ahead of the party’s primary election taking place next month.

Addressing the mammoth crowd of supporters in Benin City, the Edo State capital, as part of his ongoing state-wide tour, Ighodalo said he has proven track records and capacity to deliver the dividends of democracy to the people.

Calling for their support ahead of the party’s primary election, the PDP frontline aspirant noted that

his nomination and subsequent election will bring development to the state and guarantee a better future for the people.

He noted that in terms of capacity and experience, he stood tall amongst other aspirants and appealed to the PDP members to nominate him to fly the party’s flag, assuring the people of Oredo of quality and people-centred governance if elected governor.

Ighodalo said: “If you nominate me as the PDP candidate and by the grace of God I become the governor of Edo state, I will bring more development to Oredo and make it great in terms of development.

“This is because Oredo over the years has remained the heartbeat of Edo State and by extension, Nigeria.

My administration, if elected

into office with your support, will transform Edo State to become the number one State in Africa in the area of all-round development.

“We must join hands to make Edo greater as one individual cannot do it alone. The issue of security will be given priority in the State because without security, there will not be meaningful development in Edo,” he said.

Ighodalo stated that without security, investors will not come to the state and used the opportunity to beg the youths to stop killing each other.

“When you see a stranger with questionable character, report such a person to the security agency because collectively, we must secure our state as security agencies cannot do it alone.”

“Let us nominate the aspirant that can develop Edo State.

Someone with proven track records and has the capacity.

Not one that will be coming to experiment with the State and this is where I stand tall amongst other aspirants for this election,” he added.

Responding on behalf of the PDP leaders and members in Oredo local government area, a chieftain of the party, Chief Osaro Idah, the Obazelu of Benin, disclosed that the people has decided to unanimously adopt Ighodalo as their consensus aspirant for the primary election.

“We are going to support and work for Ighodalo to become the next governor of Edo State.

The leaders and members of the PDP in Oredo have adopted you, Asue Ighodalo, as our sole aspirant for the governorship primary election in Edo,” he added.

FRIDAY FEBRUARY 2, 2024 ˾ T H I S D AY

37

NEWSXTRA

TRAINING FOR INFORMATION, PR OFFICERS…

Public Relations Specialist, Mr. Gbenga Okeowo, Vice President, Nigerian Institute of Public Relations (NIPR), Prof. Emmanuel Dandaura; Lead Consultant, Triumph Corporate Limited, Mr. Raheem Adedoyin, and the President/Chairman, Governing Council of NIPR, Dr. Ike Neliaku, at the training programne for information officers / public relation officers in Kwara State Public Service in Ilorin...recently

Gunmen Kill Monarch, Abduct Wife, Two Others in Kwara Bandits kidnap FHA Director in Abuja Military Base

Hammed Shittu inIlorinand Olawale Ajimotokan in Abuja | Gunmen suspected to be kidnappers last night invaded the palace of Olukoro of Koro in Ekiti Local Government Area of Kwara State and killed the traditional ruler of the town, General Segun Aremu (rtd).

Similarly, bandits yesterday

abducted Aondo Ver, the director of the Federal Housing Authority, Federal Capital Territory (FCT) near a military base in Pambara in Bwari Area Council of Abuja.

The gunmen also whisked away the wife of the monarch and two others. The incident, according to THISDAY checks, happened around 8.45 pm o in the town.

Meanwhile, state government

Re-run: Political Parties Sign Peace Pact in Sokoto Onuminya Innocent inSokoto Political parties and their candidates contesting in the February 3 rerun elections for Yabo/ Shagari House of Representatives, Bodinga West, and Tambuwal East state House of Assembly seats in Sokoto State have signed a peace accord.

The peace pact was signed at the state police headquarters in Sokoto yesterday.

Speaking while addressing parties and their candidates and other stakeholders at the state police headquarter, the state Commissioner of Police, Ali Kaigama, said the Police Command is fully ready for the elections.

He warned that whoever that is not with a permanent voters card in any of the affected

polling units should not bother to go near the polling units.

The state police boss noted that the security agents in the state, including the Nigerian Army, Police, NSCDC and others, have resolved to work in synergy to ensure that the election is conducted in a peaceful atmosphere.

According to him, “I want to assure everyone that the election is going to be devoid of violence, as all arrangements have been concluded to ensure the election is free, fair, credible and widely accepted by all.

has confirmed the killing of the monarch and the abduction of three others including his wife.

A statement issued by the Governor AbdulRahman AbdulRazaq last night signed

by his Chief Press Secretary, Mr. Rafiu Ajakaye, on the incident, said that the governor condemned

the killing of Olukoro of Koro in Ekiti Local Government, HRH General Segun Aremu (rtd).

Two Victims of Gun Attack Protest in Abuja, Demand IG’s Intervention Kingsley Nwezeh in Abuja

Two victims of gunshot incident yesterday protested at the Force Headquarters, demanding that the Inspector-General of Police (IG), Kayode Egbetokun, take urgent action against the perpetrators.

The victims, Festus Osaretin

and Odion Igbinadolor, carried a banner with pictures showing how one of them was shot in the stomach which exposed his intestines while the second victim was shot in the shoulder leaving him unconscious.

While the two suspects responsible for the crime were arrested and still in detention,

a retired senior police officer was alleged to have used his influence to release the suspects.

The two victims matched to the Force Headquarters in a peaceful protest where they submitted a petition to the Inspector General of Police for proper investigation of the crime.

They called on the IG to expedite action on the investigation and ensure that justice is done.

“We call on the IG to take up this case, attend to our petition and ensure that justice is done.

“We want them prosecuted.

We want them to face the full wrath of the law,” he said.

Bauchi Targets 45,000 Pregnant Women for MMS Research Project Segun Awofadeji in Bauchi

Bauchi State Government has launched the implementation of Research Project for Optimizing Adherence to Multiple Micronutrient Supplementation (MMS) for pregnant women in three selected Local government

areas of the state.

The pilot project aimed at addressing the burden of maternal mortality among women of reproductive age is a collaborative effort between the state government, Federal Ministry of Health, and Nutrition International.

Eighty four Health Care Centres have been selected for administration of the supplements on 45,000 targeted pregnant women from Dass, Ganjuwa and Giade Local Government Areas.

Inaugurating the project at Government House in Bauchi

yesterday, the state Governor, Senator Bala Mohammed, who underscored the importance of the programme, assured them that the state would fulfill all its obligations, including payment of counterparts towards successful implementation of the project.

NAFDAC Seals Two Companies over Failure to Meet Jan 2024 Ban on Alcohol in Sachets Gilbert Ekugbe

TThe National Agency for Food and Drug Administration and Control (NAFDAC) yesterday sealed two companies for failing to meet the January 31, 2024, deadline set for manufacturers to stop the sale and distribution

of alcohol in sachets and small volumes less than 200ml in the country.

The Assistant Director, Investigation and Enforcement of NAFDAC, Anthony Abah, at an enforcement exercise in Lagos, said the agency has commenced the enforcement

of the deadline, reaffirming the agency’s commitment to rid the country of products that do not meet its specifications.

He said the enforcement exercise was imperative considering the meeting the agency had with blenders and distillers, the Association of

Food Beverage and Tobacco Employers (AFBTE) where producers of alcohol in sachets and small volumes agreed to reduce production by 50 per cent with effect from January 31, 2020, while also ensuring the products are completely phased out in the country by January 31, 2024.

The Ikeja High Court in Lagos yesterday ordered the remand of a truck driver, Ketu Asikpata, in the correctional centre for alleged involuntary manslaughter of nine persons.

Asikpata was arraigned before Justice Oyindamola Ogala on a

manslaughter.

The state prosecution counsel, Mr. Ola Azeez, told the court that Asikpata had allegedly committed the offences on January 29, 2023, on the Ojuelegba Bridge inward Fadeyi area of Lagos.

Azeez said the defendant, on the said date, drove a Mack truck

carrying a container.

According to him, the driver drove the truck with gross negligence and reckless disregard for other road users, leading to the container falling on a Suzuki mini bus with registration No: KTU 921 YD. The prosecutor told the court that the scenario caused the

Blessing Okwuma; Basirat King; Emeka Okoli; Ifeyinwa Okoli; Chidiebube Okoli; Ifechukwu Okoli, Abdulrahman Wahab and Kamorudeen Garara.

He said the offence contravenes Section 224 of the Criminal Law, Cap. C. 17, Vol. 3, Laws of Lagos State, 2015.

FG: FoIA, Tool for Any Functional Democracy to Ojuelegba Accident: Court Remands Truck Driver for Involuntarily Manslaughter Thrive nine-count charge of involuntary with registration No: KJA 380 XD, death of nine people- Felix Ifeanyi; FunkeOlaode CHANGE OF NAME I formerly known and addressed as MISS ONUMAH ONYINYECHI DORIS, now wish to be known and address as MRS OKPARAIDIKA ONYINYECHI DORIS. All former documents remain valid. The general public please take note.

That during my BVN registration, my name was wrongly written as NNENNA VIVIAN CHUKWUEMEKA instead of MISS NNENNA VIVIAN EBUBEDIKE, now wish to be known and addressed as MISS NNENNA VIVIAN EBUBEDIKE. All documents bearing my former name remain valid. Concerned institutions and General public take note

I formerly known and addressed as MISS OMOYELE IBUKUN ABIDEMI, now wish to be known and address as MRS OMOYELE-BRAIMOH IBUKUN ABIDEMI. All former documents remain valid. The general public please take note.

I formerly known and addressed as AJIJIE MARK AYEBE, now wish to be known and address as AJIJIE MARK ALALO. All former documents remain valid.

The general public please take note.

NdubuisiFrancisinAbuja

The Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, has described the Freedom of Information Act (FoIA) as a tool for any functional democracy to thrive, noting that accurate record keeping and retrieval mechanisms were vital to the successful operation of the Act. Jafiya spoke in Abuja yesterday at a one-day workshop on Freedom of Information Act, 2011 for officers on Salary Grade Levels 12 - 14.

She noted that the Act was a tool for any functional democracy to thrive, thereby making it a necessity to communicate the contents to all categories of officers in the Federal Ministry of Finance, who are expected to be attentive and utilise the knowledge acquired from the workshop to bear for enhanced service delivery.

Jafiya stressed that accurate record keeping and retrieval mechanisms were vital to the successful operation of the FOIA2011, adding that the Federal Ministry of Finance had cued into the Electronic Record Management (ERM) system to address any concern.

Don Decries Poor Implementation of Chemical Usage Act in Nigeria Blessing Ibunge in Port Harcourt A Professor of Agro-Chemistry, Lami Nnamonu, has decried the poor implementation of Chemical Usage Act, an Act that controls the use of certain chemicals, especially in agriculture and veterinary in the country.

The university lecturer made the observation yesterday in Port Harcourt, River State, at a one-day Capacity Building and Empowerment on the use of Chemical Substances for Vulnerable Women and Youths organised by the Institute of Chartered Chemists of Nigeria (ICCON) and the National

Assembly.

Nnamonu, a senior lecturer at the Federal University of Agriculture Makurdi, Benue State, however, urged regulatory agencies and the government to address the concern, stating that there was low level of implementation of laws and monitoring of farmers.

She said: “We have these policies written clearly. They are there, ranging from environmental laws, pollution laws, but our problem is implementation and monitoring. We do not implement them. They are just there. My worries are huge. And they are also denying the country of huge foreign exchange.

NOA DG: FG to Launch 37,000 Citizens’ Brigade Nationwide

Kemi Olaitan in Ibadan

The Director-General, National Orientation Agency (NOA), Mallam Lanre Issa-Onilu, has announced plans to launch 37,000 Citizens’ Brigade in

primary schools across the country.

He made the disclosure while speaking with journalists in Ibadan, Oyo State, during a working visit to the state.

He said 1,000 Citizens’

Brigade would be set up in each of the 36 states and the Federal Capital Territory (FCT) to promote national values as of old, and create positive models among the youthful population.

He said the government is worried that about 72 per cent of the youthful population have become foreigners through the influence of cartoons and movies which are foreign in contents, values and cultures.

38

FRIDAY, FEBRUARY 2, 2024 • T H I S D AY

BACKPAGE CONTINUATION NIGERIA AND THE CURSE OF SLAVERY the end of the seventeenth century and that aesthetic decadence set in precisely when the slave trade was becoming the dominant mode of economic and social life” Less said is the culpability of Africans in this historic injury. Adaobi Tricia Nwaubani pointedly drew attention to this lapse in the observation that “the fraught debate on slavery is largely absent in Africa, even though Africans were deeply involved in the slave trade. Africans raided for slaves often in connivance with local chiefs and then acted as middlemen with European and Arab purchasers. She recounts stories of the ambivalence of at least some Africans about the role of their ancestors in the slave trade.

She reports that Donald Duke, former governor of Cross river state and a good-government presidential candidate in the 2019 Nigerian elections, acknowledges that his ancestors participated in the slave trade. However, Duke says “I’m not ashamed of it because I personally wasn’t directly involved.”

In the rise and fall of transatlantic slave trade, no figure looms larger than the celebrated American president, Abraham Lincoln. Highly reputed for his eloquence and deep insight into the dilemma of mankind, he adjudged slavery as a sin that inherently invites retribution. Noted Lincoln “One eighth of the whole population (of the United States) were coloured slaves, not distributed generally over the Union, but localised in the Southern part of it.

These slaves constituted a peculiar and powerful interest. All knew that this interest was, somehow, the cause of the civil war.

To strengthen, perpetuate, and extend this

interest was the object for which the insurgents would rend the Union, even by war; while the government claimed no right to do more than to restrict the territorial enlargement of it”.

“Both read the same Bible, and pray to the same God; and each invokes His aid against the other. It may seem strange that any men should dare to ask a just God’s assistance in wringing their bread from the sweat of other men’s faces; Fondly do we hope--fervently do we pray--that this mighty scourge of war may speedily pass away. Yet, if God wills that it continue, until all the wealth piled by the bond-man’s two hundred and fifty years of unrequited toil shall be sunk, and until every drop of blood drawn with the lash, shall be paid by another drawn with the sword, as was said three thousand years ago, so still it must be said “the judgments of the Lord, are true and righteous altogether” The related theme of the”Hamitic hypothesis”, originally referred to the peoples said to be descended from Ham, one of the sons of Noah. According to the Book of Genesis, after Noah became drunk and Ham dishonoured his father, upon awakening Noah pronounced a curse on Ham’s youngest son, Canaan, stating that his offspring would be the “servants of servants”. Of Ham’s four sons, Canaan fathered the Canaanites, while Mizraim fathered the Egyptians, Cush the Cushites, and Phut the Libyans. According to the Hamitic theory, this “Hamitic race” was superior to or more advanced than the “Negroid” populations of Sub-Saharan Africa”.

Beyond being totally discredited, my difficulties with the Hamitic theory centre

on the fact that it is scriptural rather than factual. We have no way of finding out whether indeed there was a Noah who begot the children attributed as his progeny. Second is that, if indeed there was such a parentage and bloodline, the sin of stealing a glance at a father’s nakedness is incomparable to selling off a sibling. If we accept the Hamitic hypothesis, then there will be no further need to seek explanation for slavery.

My speculation is that beyond the manifest, material and historic devastation and arrested development wrought on Africa by slavery, there is the sin of the spiritual culpability of Africans themselves in enslaving and casting away their own into the cauldron and oblivion of sub-human existence. Quite reminiscent of the wickedness of the older children of Jacob, who sold their junior brother, Joseph, into slavery. We were similarly informed in Genesis, that ‘Abel, a shepherd, offered the Lord the firstborn of his flock. The Lord respected Abel’s sacrifice but did not respect that offered by Cain. In a jealous rage, Cain murdered Abel. Cain then became a fugitive because his brother’s innocent blood put a curse on him’.

In my imagination, so, likewise, has Africa invited a curse on itself for its unforgivable dealership in the beastly market of the slave trade. Of great consequence were the silent invocation of damnation of those condemned to eternal servitude by their kit and kin- as they were herded onto the decks of the evil carriers taking them on a voyage of no return..

Between the African partakers and their Euro/ American counterparts, the balance of sinning

more than being sinned against falls on the former. It may amount to double jeopardy, yet if there should be a divine retribution, it should fall more heavily on those who connived with foreigners to dehumanise their brethren.

But what about the other party to the tragedy?. It appears that a specific and adequate retribution was provided by the American civil war in which brothers spilled one another’s blood over the institution of slavery. As eloquently stated by Lincoln “if God wills that the civil war should continue, until all the wealth piled by the bond-man’s two hundred and fifty years of unrequited toil shall be sunk, and until every drop of blood drawn with the lash, shall be paid by another drawn with the sword, as was said three thousand years ago, so still it must be said “the judgments of the Lord, are true and righteous altogether”.

Why, then, for instance, was the United Kingdom, UK, spared a similar slavery- specific retributive justice? I do not have an answer to this poser beyond being granted a providential reprieve on account of the proactive role of the British in the abolition of slave trade. And Europe as a whole? Again, I cannot stretch my imagination beyond the tenuous interpretation of the visitation of the two world wars as retribution. .

What about Donald Duke and the scriptural penalty of visiting the sin of the fathers on the offspring? Well, God asked me to tell him to set his mind at rest. In the book of Romans: “The apostle Paul argues that, from a certain point of view, human sin and death are a corporate problem rather than an individual one.

EXCHANGE RATE UNIFICATION: PRESIDENT TINUBU POISONED CHALICE (I) funds are now allocated to state governments and the governors just party. This government should know that the huge increase in funds available to state governments via the monthly statutory allocation mechanism ends up in the pocket of state governors. As yet, there is no mechanism to monitor the governors to prevent this unending calamity. The experience of bankers is that at the end of the month, the black market for dollars is unusually busy. The demand for US dollars escalates and it it has been so for decades. Working with the accountant-general of the state, the governors take out the security vote and a sizeable portion of the allocation for the state through any bureau de change (BDC) of choice and their foreign account is updated. That is why most governors travel lout at the beginning of the month to confirm the deposits that have been credited to their accounts. The recent increase in allocation to states has increased the quantity of funds stolen by state governors via this channel. It was a mistake for president Tinubu to have moved much of the funds accruing from the subsidy withdrawal and the devaluation into the pool of funds for monthly allocation. The Tinubu government should have used the opportunity to set up an implementation agency named the presidential infrastructure task force to implement choice programmes in emergency road construction and rehabilitation, health and educational intervention, water supply, low income housing projects and social structures that are lacking in the country. Unfortunately, the current increased statutory allocation to state governments has increased executive greed and has worsened our collective poverty. It this agency is established the black market will be starved of funds and the exchange rate will improve very quickly in 60 days. The expectation is that the new agency will not loot this fund as an accounting and control system can be designed to stem excessive leakages. It is recommended that the government should reflect on this proposal.

If ever there were good reasons for keeping Mele Kyari, in office as NNPCL GMD, since May 29, 2023, those reasons must be long gone. Crude oil theft rose to the level of a national embarrassment under his management. The country cannot even produce to meet the OPEC allocated quota and therefore cannot earn enough foreign exchange to give strength to the economy. Malam Kyari’s top three management levels in the NNPCL should be sacked today and a new executive body be reconstituted. There had always been corruption in the NNPC but what has now metamorphosed into massive crude oil theft is an existential threat confronting Nigeria. The recent decision by the federal government directing NNPCL to ask crude oil buyers to pay the proceeds of crude oil sales directly into the designated account in CBN is a step in the right direction. It will help solve a lingering problem whether crude oil is being physically stolen to the extent feared or whether the expected crude oil sale is made but the proceeds paid into two accounts - 30% into the federal government account under NNPC

Tinubu

and 70% paid into the cabal’s account. The day of reckoning Is almost here. While implementing the personnel and control changes in the NNPCL, government must begin to search for international business espionage experts who had retired from the American FBI (Federal Bureau of Investigation) as contract employees of government to oversee the determined efforts to put a stop to the theft of crude oil. These experts have received a special training that the federal government will find useful. The current half-hearted efforts to halt crude oil theft by releasing in the night, vessels caught with stolen crude oil in the day, and harassing locals with 20 drums of crude oil being used for local refining business will never help this situation. We are currently adopting a face-saving measure devoid of effectiveness. It is laughable and hypocritical. A crude oil production figure of 1.5mbpd, out of an OPEC quota of approximately 2.3mbpd is an insult on the Nigerian reformist president and a vindication of the need to immediately relieve Malam Mele Kyari of his undeserved current position. If Nigeria begins to meet its current OPEC quota, the dramatic effect of the currently mortgaged crude oil stock on the nation’s earnings will be obviated. There are too many dirty tricks in the channels of the management of NNPCL. The general security problem in Nigeria has to be addressed. The armed forces, police, civil defence officials and the Nigerian hunters/forest guards association are highly commended for the steps taken so far to address the national security meltdown. The time for the commencement of the state police system has come. The national assembly members must be forced to authorise the state police system. The insecurity of today is way beyond the capacity of our centralised federal policing system. The federal governement also requires the services of foreign mercenaries to work side-by-side with our local security forces and the armed forces to eliminate the resistant bandits and criminals in Kaduna, Zamfara, Plateau,

Benue, Taraba, Niger, Imo, Anambra, and in the forests of the western states. A kidnapping and terrorist tribunal should be established and a trial period of six months be set down as the period of arrest, trial and conviction or discharge for terrorists, bandits, killer herdsmen and mass murderers. The death penalty without the option of fine or imprisonment must be the punishment. In the 1970s the death penalty and public execution by firing squad for convicted armed robbers was able to tame the crime of armed robbery. This time death penalty, by hanging or electric chair, should await convicted bandits, killer-herdsmen, killer cattle rustlers, boko haram terrerorists and cross border killers along the fringes of northern Nigerian borders and other such killers in Nigeria. The execution of convicts must be carried out within 90 days of conviction and whatever appeals that may arise must be determined within the 180 days deadline.

A drastic ailment requires a drastic cure. The question of rehabilitating boko haram convicts as repentant offenders and absorbing them into the Nigerian armed forces and the police force is a detestable practice and an effort to undermine the sovereignty of Nigeria.

If the security situation improves national food production efforts will be boosted. Farmers can go back to the farms and herdsmen will no longer be emboldened to walk their herds of cattle over huge farmlands wrecking pain and destruction on hundreds of millions of naira private investments. In parallel with this effort, the much discussed system of ranching in selected states of the federation should commence. Indeed the federal government can build experimental ranches in five northern states as an example for others to follow. The annual value of the Nigerian cattle economy runs into tens of billions of dollars. With a secured land access to farm lands, produce buyers can go freely into the forests and farms to purchase palm kernel, rubber, cotton, grains, ginger, cocoa, rubber and others and process for export. The

commodity boards can now return and export business will be promoted. It is also important for the Nigerian federal ministry of finance using the NEXIM Bank as its channel to seek an export stimulation loan from the African Development Bank (ADB). Foreign exchange earnings from exports will help the foreign exchange market and gradually reduce the current market volatility.

The commodity boards of those past years helped in creating the modern Nigerian state. The cocoa board in Ibadan, Palm produce board in Calabar, groundnut board in Kano, Cotton board in Funtua and Rubber board in Iyanomo were the vehicles for Nigerian prosperity before and during the crude oil years of glory. Their subsequent sale and destruction has had an unsavoury effect on the Nigerian agricultural sector and our foreign exchange earnings. Similarly, the ability of the terrorists to prevent federal access to mining sites in this country is preposterous. The action of the federal government in all these areas has been tepid. There has been no sufficiently effective action in any positive direction since May 29, 2023.

Even the much touted efforts in the Nigerian mining sector is held captive.

The federal government is advised to immediately implement a measure for both the federal and state governments to open up their ministries, departments and agencies (MDAs) for mass recruitment of qualified personnel.

The administration of President Ibrahim Babangida achieved a feat in 1986/87 when he threw open the doors of government for the mass recruitment of qualified graduates in the country. The reason was that the SAP had brought untold hardship to Nigerians at the time and he saw the need to bring succour and relief into Nigerian homes. President Tinubu is at a similar period in his presidency. In the federal and state state civil service and in the MDAs, hundreds of thousands of vacancies abound. These vacancies have developed from staff death, retirement, resignations, ill-health, dismissals, and the flight to economic safety called the “JAPA” phenomenon. On this note the infamous Oronsaye report should be shredded because it is not only outdated, it sought to achieve no useful purpose from the very beginning. An emergency meeting of the national economic council should hold and the federal government and all state governors and the FCT should be mandated to take an inventory of vacancies existing in their public service. A directive should then go from the presidency for these vacancies to be filled within 90 days.

Furthermore, in all government primary and secondary schools with an appalling student/ teacher ratio, teachers should be immediately recruited to fill the vacancies. Jobs should be created to enable President Tinubu to neutralise this poisoned chalice. Let us act before it is too late (Part 2 follows on new jobs and exchange rate revaluation strategy).

•Chief Omokhodion, author of, “Powered by Poverty”, is the immediate past Pro-Chancellor/ Council Chairman, Ambrose Alli University, Ekpoma

39

THISDAY ˾ FRIDAY, FEBRUARY 02, 2024

FRIDAYSPORTS

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

0811 181 3083 SMS ONLY

AFCON 2023...AFCON 2023...AFCON 2023...AFCON 2023...

Nigeria v Angola: Super Eagles Will Fight to Win Tonight, Say Iwobi Femi Solaja Fulham midfielder, Alex Iwobi, has promised that Super Eagles will fight to grab the AFCON 2023 semi final ticket at stake this evening as Nigeria play Angola in the winner-takes-all quarter final fixture inside Stade Félix Houphouët-Boigny in Abidjan.

Iwobi however praised the Palancas Negras of Angola as no push over in the tournament.

“For Angola to get to this stage of the competition is a big achievement,” stressed the former Arsenal player at the prematch press conference

yesterday.

He also admitted that the Palancas Negras have lots of creative players who can spell doom for Nigeria like they did at the qualifiers for the 2006 World Cup in Germany.

“They have a lot of creative players, but we will fight for a win.

“There have been a lot of surprises (at this AFCON), but the main thing is to remain focused. We can achieve greatness and create history,” observed Iwobi In nine head-to-head meetings, Nigeria have won three and drew five with the Angolans.

...CAF Appoints Senegalese Sy to Take Charge of Showdown Senegalese official Issa Sy will be the referee when Nigeria take on Angola in Friday’s Africa Cup of Nations quarter-final encounter at the Stade Félix Houphouët-Boigny in Abidjan.

Sy will have compatriots Djibril Camara and Nouha Bangoura in tow as assistant referee 1 and assistant referee 2 respectively,

But Super Eagles Head Coach, Jose Peseiro, who engaged in mind games with the Angolans at the prematch conference ahead of the clash, insisted that the game was 50/50 chances for any of the two teams to triumph.

“In my opinion, it’s 50% for each team to win this match,” Peseiro said at the prematch conference in Abidjan yesterday.

Peseiro refused to accept the belief that Super Eagles were the clear favorites for the semi final ticket. “I believe in my team, we believe in our team. This is our second final after we played the first final (vs Cameroon). We want to play the third final and the fourth final,”

Q’FINALS FIXTURES (FRIDAY) Nigeria v Angola (6pm) DR Congo v Guinea (9pm)

(SATURDAY) Mali v Côte d’Ivoire (6pm) C’Verde v S’Africa (9pm) stressed Peseiro who gave a hint of his game-plan for today. “We start this game 0-0. We want to score goals and not concede a goal.”

He added: “Both teams want to reach the semifinal. It will be a

tough match.

“Angola are a good team with no big names. They have done very well to reach the quarterfinal. We hope our team play 100% to beat a good team from Angola.”

The match, which will commence at 5pmCote d’Ivoire time (6pmNigeria time) will be another of the rare occasions that Nigeria and Angola tango on the turf, with few clashes between both nations at senior level over the years.

Nigeria edged Angola to reach the final round of the qualification series for the 1990 FIFA World Cup finals (2-2 in Luanda and 1-0 in Lagos), but the Angolans stepped on Nigeria to make their single

appearance at the FIFA World Cup finals, when they won 1-0 in Luanda and held the Eagles 1-1 in Kano to edge the head-to-head contest that was the determining factor for the 2006 FIFA World Cup qualification series.

Nigeria goalkeeper Stanley Nwabali is fit to start Friday’sencounter, though Coach Jose Peseiro has indicated he may not want to risk the safe hands if he is not fit enough for the tie.

The winner of Friday’s encounter will square up with the winner of the clash between Cape Verde’s Blue Sharks and South Africa’s Bafana Bafana in one of the semi final matches, at the Stade de la Paix.

alongside Mauritanian official Abdel Aziz Bouh as fourth official.

Modibo Samake from Mali will serve as reserve assistant referee, while Ahmad Nazeer Hossen Bowud from Mauritius and Ali Mohamed Ahmed from Somalia will be in the roles of commissioner and referee assessor respectively.

Uzodimma Hopeful Super Eagles Will Crush Angola Governor Hope Uzodimma of Imo State has sent a goodwill message to the Super Eagles players ahead of this evening’s quarter final cracker with the Palancas Negras of Angola, saying he is confident Nigeria will crush their opponents convincingly.

Uzodimma said if the outing of the Super Eagles during their encounter with the Indomitable Lions of Cameroon where the later were humbled 2-0 was anything to go by, then the Angola team pose no threat to the Nigerians.

A statement by Oguwike Nwachuku, Chief Press Secretary and Media Adviser to the Imo State Governor said his principal looks forward to a more resounding victory against the Angolans today

and consequently, a smooth ride to the semi finals by the Super Eagles.

Uzodimma saluted the commitment and hard work of the Super Eagles players and their handlers during their encounter with Cameroon and urged them to make same their watchword as they confront Angola.

The sports loving Governor who is also the Chairman of Progressives Governor's Forum, Nwachuku noted, believes that the Super Eagles have all it takes to lift the 2023 Africa Cup of Nations (AFCON) and that football loving Nigerians and the federal government look forward to celebrating the cup with them.

AFCON 2023 Quarter final Clashes Live on StarTimes

The excitement of the Africa Cup of Nations (AFCON 2023) continues as StarTimes brings live coverage of the highly anticipated quarterfinal matches live and in HD. The Nigerian national team, the Super Eagles, will be looking to continue their dominant run in the tournament as they face off against Angola's Palancas Negras this evening.

Nigeria have shown resilience throughout the competition. Angola, on the other hand, defied expectations by reaching the knockout stage and will be determined to cause an upset against the favourites.

The match will be played at 6 pm on Sports Premium and Beta Sports channels for as low as N1500 weekly on StarTimes.

In the other quarterfinal match, DR Congo will lock horns with Guinea. DR Congo have never won any match in the tournament; they have drawn all their matches except in the Round of 16 where they knocked out Egypt in a penalty shootout.

Guinea, meanwhile, have impressed with their organised team play and will be aiming to reach the last four. The match will be played at 9pm on StarTimes.

Super Eagles players in state of readiness for the quarter final fixture with Angola ...tonight

Azubuike, Bulus Sweep Stakes at Opobo Marathon The 6th edition of Opobo marathon held in Rivers State lived up to the billings as one of the top rated road races in Nigeria with athletes coming from all over the country to fight for honours in what has now remained a constant feature in sporting circles.

And with the prize money even higher than the 5th edition, it became obvious that the fight for the top positions would be competitive and down to the wire.

In the end, it was Chimaobi Augustine Azubuike from Imo State breasted the tape first at the finish line in the male category.

He smiled home with N500,000 top prize money.

Yusuf Babije from Plateau State was second whole Eric Constance finishing third to win N200,000 and N100,000 respectively.

In the female category, Blessing Bulus from Plateau State dusted all

Oshoala Joins American Side from Barcelona Femeni New National Women’s Soccer League (NWSL) club Bay FC have signed Super Falcons star Asisat Oshoala from FC Barcelona Femeni.

Oshoala has signed to a contract through the 2026 season with an

option for the 2027 campaign.

She will join the team and be added to the roster pending the receipt of her P-1 visa and International Transfer Certificate (ITC). Oshoala will occupy an international roster spot.

“To have the opportunity to add a player of Asisat’s quality, experience and winning pedigree to our roster is an exciting and important day for the club and the NWSL,” said Bay FC General Manager Lucy Rushto

comers to cart home the N500,000 prize money for first position, while Charity Agofure from Delta State came second to win N200,000 whole Saibu Yetunde from Ogun State rounded up the top three win with the consolation N100,000.

In the two special positions, Jaja Tamuno won the first position for indigenous category, while a 15-year-old Queen Nwidah was the youngest runner to finish the marathon, pocketing N50,000 in the process.

Speaking in an interview, both Azubuike and Bulus praised the organisers for an excellent marathon, pointing out that they didn’t expect such level of seriousness and competition from other athletes.

Chimaobi Azubuike said he was surprised winning the marathon, especially as he felt that there would be more experienced runners and would not have come but for what he had read about Opobo growing up, so he decided to come and see the town.

Female category winner Blessing Bulus expressed delight with her performance, saying she had worked very hard coming into the marathon and was happy that her preparations paid off in the end.

Also speaking, the Amayanabo of Opobo, King Dandeson Douglas Jaja, who also took part in the leisure category, from starting and the ending, was full of praises for the level of competition and the number of athletes who came from various states.

Cricket: PwC National U-17 Finals Gets New Date The National Finals of the 5th edition of the PwC National Under-17 Cricket Championship will be held from February 14th to 19th at the twin ovals of Moshood Abiola National Stadium in Abuja.

Emeka Igwilo, General Manager of the Nigeria Cricket Federation who doubles as the co-chair of the 2024 Organising committee of the national event, said the one-week move was necessary, among other things allow for regions that had pleaded for a shift in their qualifying dates to have time to practice and bond ahead of the finals.

“So far, out of six regions, four, including: South-West, South-South,

North-Central, and North East, have all concluded their regional qualifications. North-West and South-East will be having their regional finals this weekend, and this means that the kids will have a few days to report to Abuja for the national finals.

“The Board (of the Nigeria Cricket Federation), has asked for an additional week for them to be able to assemble their regional teams and a few days of practise before the National finals, hence the shift.

Some major logistics for the event will also benefit from the shift as well.” He added.

In all, 34 states registered boys teams for the age-grade event, while

25 states entered girls teams.

From the concluded regional events so far, Ogun State’s girls’ team and Oyo state’s boy's team ruled the South-West qualifiers. In North Central, it was Niger State’s boys and Kwara State’s girls team that ruled the series. Edo State boys and girls team dominated the South-South qualifiers just as Gombe State ruled the North East.

The National final will feature teams representing the regions at the national finals.

The PwC National Under 17 Championship has become the fodder for nurturing and progressing talents to the national team.

Friday, February 2, 2024

TR

UT H

& RE A S O

N

Price: N400

MISSILE

George to President Tinubu

“Mr. Tinubu must not shy away from state police. He must go and get the report of the Constitutional Conference (2014). The constitution is also part of the obstacle that is recklessly disturbing the growth of the country. Right now we are on the precipice of total collapse. We are failing. The report of the Constitutional Conference was dropped to the archive. The effect of putting it in the archive is what we are experiencing now” –Former PDP Deputy National Chairman, Olabode George, urging the President to act on the 2014 Conference report, for solutions to the current national problems.

AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akinosuntokun@thisdaylive.com

Nigeria and the Curse of Slavery “The fraught debate on slavery is largely absent in Africa, even though Africans were deeply involved in the slave trade. Africans raided for slaves often in connivance with local chiefs and then acted as middlemen with European and Arab purchasers”.

I

n sheer exasperation at the tragic enormity of it all, this subject matter grew out of a conversation I recently had with some friends. We wondered aloud why Nigeria and Africa appear stuck in the mud of underdevelopment with no discernable prospects of a silver lining in the dark horizon. Yet it is not the case that Nigeria has never experienced capacity for sustained development. The trio of Obafemi Awolowo, Nnamdi Azikiwe and Ahmadu Bello were, without any equivocation, an advertisement for development oriented and utilitarian leadership.

To put it in the horse’s mouth, here was Awolowo at his frank and assertive best (in 1955) “the British did not have the true interests of the country at heart. In fourteen months, under the present government, we have done more for Nigeria than the British did in 120 years.” In the defunct Eastern region, “after the implementation of Arthur D Little’s

Tinubu

recommended growth plan, the East’s economy grew at more than 9.2%, starting from 1958 till 1967 when the war tragically interrupted the sterling momentum…At over 9%, the Eastern Region in this period, had the fastest growing economy on earth consistently for 9 years”.

Yet, here we are, several decades along, wondering whether the Hamitic hypothesis of the congenital servitude of the black race was true after all. How do we account for the prevalent vicious cycle of the comprehensive development failure of Nigeria and Africa from which there seems to be no way out?.

What follows (essentially speculative) is an attempt to reexamine the nexus between this failure and the phenomenon of slavery from an entirely new perspective.

It is a metatheoretical perspective that borrows from the philosophy of post modernism which rejects ‘concepts of rationality, objectivity, and universal truth and emphasizes the diversity of human experience and multiplicity of perspectives’. At the convocation ceremony of the University of Lagos Professor Toyin Falola demonstrated an aptitude for this tradition with his advocacy ‘that the Yoruba knowledge and divination system, Ifa, as well as witchcraft be more vigorously studied in Nigerian universities, taking better advantage of systems of knowledge developed by Africans’.

Integral to the unholy trinity of slavery, imperialism and racism, it is trite to restate the truism that the injury dealt to Africa by slavery is monumental, colossal and unparalleled.

To bring back the subject matter to focus, we

will do well to refresh our memory with the recall of a number of apt iconic recollections.

In a recent review of Walter Rodney’s classic “how Europe Underdeveloped Africa”, George Apata restated Rodney’s position on slavery: “Slavery was not only one of the greatest forced migrations of people in human history, but it was also possibly the greatest evacuation of manpower from one part of the world to another. The estimated 10-12 million Africans that were removed from the continent over a period of five centuries had a great impact on African underdevelopment. The consequence of this forced migration not only depleted but deprived Africa of its ablest young men and women, the very manpower that was required for development”.

Peter Ekeh had this to say “African states in the pre-slave trade era decidedly attained greater cultural heights than the states operating under the aegis of the violence of the slave trade. In this respect, a condition of cultural creativity .. . is most unlikely to belong to the kind of state that owes its existence or its greatness to slavery or the slave trade. [It is remarkable] that the acknowledged masterpieces of the Benin and Ife artists were produced before Continued on page 38

LAWSON A.OMOKHODION GUEST COLUMNIST

Exchange Rate Unification: President Tinubu Poisoned Chalice (I)

F

rom two dramatic back-to-back policy measures, the government of President Bola Tinubu is now engaged in a life and death struggle to bring order back into the national economic firmament. The economy is challenged and it behooves all those who love Nigeria to speak, and contribute ideas on how this government can return to rhyme and rhythm. This president means well and he needs help. Nigerians who participated in the the discussions of the September 1985/86 structural adjustment programme (SAP) and played a part in its subsequent implementation would wonder why President Tinubu is taking this country through the same tortuous path, a second time. The fuel subsidy removal , which took the price of fuel from N165 per to N589 per litre, announced at the May 29, 2023, presidential inauguration ceremony was one pain the country would have been able to walk through. Then on June 14, 2023, the president presumably directed that the official exchange rate previously systematically determined by the Central Bank of Nigeria (CBN), be merged with the parallel market rate (famously called the black market) to eliminate the arbitrage in the market. As at June 13, 2023, the CBN rate was N471/$ and the parallel market rate was N765/; an arbitrage of N287/$. On June 14, a staggering 31% devaluation occurred and the official CBN rate moved up to N620/$ but the black market remained at N765. On June 15, 2023,

the CBN official rate inched up to N657.5/$ and the black market went up to N791/$.The two rates were actually never unified. The argument of government was that the extra N294 generated from every dollar sale at the date of unification would now accrue to the federal government for distribution. In the process the government hoped to eliminate official corruption and private gains from the foreign exchange market. And this action was taken without a critical public input.

It took the government a few weeks to learn that once it subjects itself to the dictates of the market forces, the naira price of foreign exchange was out of its control. Thus in the year 2023 the Naira was devalued by a total of 98%. As we speak, the CBN foreign exchange rate on January 30, 2024, is now about N893.46/$ and the parallel market rate is N1,445/$. The arbitrage opportunity which was N287/$ on June 13, 2023, has now rise to N551/$ on January 30, 2023.

Therefore, the government gained nothing from the exchange rate unification. The real outcome of the exchange rate unification is the unintended consequence of subjecting Nigerians to untold economic torture and agony. As we speak, most Nigerian professionals in the age group of 25 to 55 years are heading out of the country as economic migrants because of the disastrous effect of the exchange rate unification exercise. The Nigerian economy is in dead waters. The government was wrongly advised. Right now government officials

are confused and the men and women in the national and state assemblies are busy building up personal financial reserves ready to flee. Nigerians are hungry and jobless. Factory closures, increased misery for the poor, brigandage and banditry, official corruption and hopelessness have become our lots. In his 450-page autobiography titled “Powered by Poverty”, in chapters 11 and 12, the author x-rayed the consequences of SAP on the Nigerian economy and explained how the systematic de-industrialization of Nigeria was seamlessly achieved by the Breton Woods institutions who were totally displeased with the 1972 and 1977 indigenization and enterprise promotion decrees.

Unfortunately, much of the crude oil that should today produce the foreign exchange earnings to ameliorate the current pains is being stolen in huge quantities and the managers of the NNPCL, led by Mr. Mele Kyari are being celebrated, feted, and accorded the privilege of an Aso Rock Villa pass. Even achieving the miserable 2.3mbpd OPEC crude oil quota for Nigeria is way beyond the reach of the oil industry.

No government begins to implement the two critical components of SAP – subsidy removal and huge exchange rate devaluation, without a reference document as we had in 1986 on the IMF/ World Bank structural adjustment programme; copies are still available. No government takes on these two measures without a ready access to huge foreign exchange reserves that will

provide adequate resources to be able to stand up to the market speculators that are attracted in these circumstances. Also lacking is a consistent export facilitation programme that would have begun to produce results within 90 days of the commencement of the June 14 measure. Without an easy draw-down facility of not less than US$20 billion, Nigeria may not recover from this economic pain. And you can only imagine the labour crisis ahead! Having come to this crossroad, the next thing is to ask what are the options available? Are the federal government economic advisers ready to learn from experience? Is the government sincere on alleviating the emergent poverty in the polity?

Knowing the heart of President Bola Tinubu and his progressive NADECO credentials, it is easy to classify the president as a patriot.

Having devalued the currency on June 14, 2023, by fiat, it will be suicidal to revalue it by fiat and yet there is no way this economy can survive with the present naira exchange rate which amounts to an obvious currency undervaluation. Any exchange rate of over N550/$ will be unbearable for this economy.

Because of the twin measures of subsidy withdrawal and exchange rate unification, a huge pool of naira funding accrues every month to the federation account. So much Continued on page 38

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to PO Box 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com