THURSDAY 10TH FEBRUARY 2022 by THISDAY Newspapers Ltd

2022 Committee Mobilising Nigerians for Quality Leadership Building consensus for country's rebirth Emmanuel Addeh in Abuja The 2022 Committee has resolved to mobilise Nigerians across party lines and social strata for quality leadership of the country at all

levels as the elections to choose new leaders in 2023 draw near. The Conveners of a meeting of 100 leading business, political, civil society, and thought leaders, which held last week in Lagos, yesterday

explained that the gathering should not be linked to the 2023 presidential election but a platform to chat a new consensus for national rebirth. In a statement jointly signed by the coordinators of the group, Chair-

man of THISDAY/Arise Media Group, Nduka Obaigbena, and former Presidential Liaison Officer to the Senate, Kashim Imam, the eminent persons noted that the gathering was meant to build

consensus towards national rebirth. The meeting, which held from February 4 to 6 under the aegis of “The 2022 Committee”, the conveners pointed out, remained non- partisan. They said the retreat

to chart a new consensus for national rebirth was attended by 14 incumbent governors, 13 former governors, and three former senate Continued on page 41

Adesina: Africa's GDP Declined by $165bn in 2020, Lowest in 20 Years... Page 5 Thursday 10 February, 2022 Vol 27. No 9802. Price: N250

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P&ID: Court Revives Nigeria's Bid in $10bn Award Feud... Page 5

NNPC Rakes in N2.613trn from Petrol Sales in One Year Posts $224.29m Crude Oil Revenue

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

The Nigerian National Petroleum Company (NNPC) Limited yes-

terday announced that it made N2.613 trillion from the sale of petrol between August 2020 and August 2021. The company also disclosed that it posted a total of

$224.29 million receipt from crude oil and gas export in August 2021, as against $191.26million in July of the same year. A breakdown of the figures

captured in the August 2021 NNPC Monthly Financial and Operations Report (MFOR) indicated that export of crude oil amounted to $7.77 million.

A statement made available by NNPC’s Group General Manager, Group Public Affairs, Garba Muhammad, further stated that gas and miscellaneous receipts stood at

$65.26 million and $151.26million, respectively. Total crude oil and gas export Continued on page 41

Adulterated Fuel: Kyari Names MRS, Emadebconsortium, Oando, Duke Oil as Culprits Explains why inspectors did not detect bad petrol before circulation National oil company requests emergency supply NMDPRA says nation has 10-day reserve deficit, announces arrival of 300m litres of fuel Assures queues to disappear by Friday FG orders investigation Deji Elumoye, Emmanuel Addeh in Abuja and Peter Uzoho in Lagos with agency report The Nigerian National Company Limited (NNPC) yesterday stated that its investigation has revealed the presence of Methanol in four petrol cargoes imported by MRS, Emadeb/Hyde/AY Maikifi/ Brittania-U Consortium, Oando and Duke Oil. Group Managing Director of NNPC, Mallam Mele Kyari, who disclosed this during a media briefing yesterday, however said he has since ordered the holding back of all the affected products in transit (both truck & marine). It was also gathered yesterday that the NNPC has asked oil trading firms to embark on emergency supply of petrol to replace cargoes that were Continued on page 41

OIL ON THEIR MINDS...

L-R: Technical Adviser Downstream to the Minister of State for Petroleum Resources, Dr. Ishaku Abner; Deputy Ambassador of Turkey to Nigeria, Mr. Alper Haner; Turkish Ambassador to Nigeria, Mr. Hidayet Bayraktar; Minister of State for Petroleum Resources, Chief Timipre Sylva; Turkish Energy Counsellor, Dr. Tabip Gülbay, and Chairman, National Gas Expansion Programme, Dr. Mohammed Ibrahim, during a courtesy visit by Bayraktar and his team to Sylva, in Abuja... yesterday

Bauchi Gov Raises the Alarm over Unknown Helicopter Operating in Lame-Burra Forest...Page8

THURSDAY FEBEUARY 10, 2022 •T H I S D AY

THURSDAY FEBRUARY 10, 2022 • T H I S D AY

THURSDAY FEBEUARY 10, 2022 •T H I S D AY

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

NEWS

DISCUSSING INVESTMENT OPPORTUNITIES IN OGUN... L-R: Ogun State Commissioner for Agriculture, Dr. Samson Odedina; President, Afreximbank, Dr. Benedict Okey; Governor Dapo Abiodun; President/ CEO Elsewedy Electric, Ahmed El-sewedy and Ogun State Commissioner for Finance/Chief Economic Adviser, Dapo Okubadejo at a meeting to discuss investment opportunities in Ogun State, at Afreximbank headquarters in Cairo, Egypt... yesterday

Adesina: Africa's GDP Declined by $165bn in 2020, Lowest in 20 Years 30m jobs lost, 26m persons fell into extreme poverty Says continent needs $484bn to address pandemic impact Deji Elumoye in Abuja President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, has painted a gloomy picture of Africa, saying dwindling economic fortunes in 2020 resulted in $165 billion decline in the continent’s Gross Domestic Product (GDP). Adesina said in the same year, over 30 million jobs were lost while 26 million persons fell into extreme poverty. The former Minister of Agriculture made the assertions in a paper titled, “Mobilising Financing for Africa’s Accelerated Economic Recovery, Development and Integration,” which he delivered to African leaders at the 35th Ordinary Session of the Assembly of the African Union in Addis Ababa, the Ethiopian capital, recently. He said, “It has been a global economic cyclone. Africa witnessed a decline in GDP growth of 2.1 per cent in 2020, its lowest in 20 years. Africa’s GDP fell by $165 billion. Over 30 million jobs were lost and over 26 million people fell into extreme poverty." The AfDB boss, however, praised African leaders for their effort to tackle the COVID-19 pandemic. He stated, "I wish to commend the leadership efforts of the African Union, and our Heads of State and Government, for the critical roles you have played in dealing with the pandemic and the socio-

economic challenges in its wake. Today, thanks to these efforts, 11 per cent of the population has been fully vaccinated, and another 16 per cent has been partially vaccinated. “However, while developed countries have moved to booster shots, Africa is still struggling with basic shots." Adesina warned against outsourcing Africa’s security to foreigners, as he stressed the need

for Africa to protect African lives by investing in healthcare infrastructure and vaccine manufacturing. According to him, “We must learn from this experience. Africa can no longer outsource the security of the lives of its 1.4 billion people to the benevolence of others. We must secure African lives! “It is time to build Africa’s healthcare defense system. This must be based on three strategic

priorities. First, building Africa’s quality healthcare infrastructure. Second, building Africa’s pharmaceutical industry, and third, building Africa’s vaccine manufacturing capacity. “Africa needs $600 million to $1.3 billion to meet its goal of attaining 60 per cent vaccine production by 2040. Investing in health is investing in national security. The African Development Bank plans to invest

The Attorney General of the Federation and Minister of Justice, Abubakar Malami, has denied holding the judiciary responsible for delays in the trial of high profile cases in the country. According to him, the President Muhammadu Buhari-led administration accords respect to the democratic provisions of the doctrine of separation of powers among the three independent and separate arms of government. In a statement issued by his Special Assistant on Media and Public Relations, Office of the Attorney General of the Federation and Minister of Justice, Dr. Umar Jibrilu Gwandu,

climate change. The continent will also need between $68 - $108 billion per year to fix the infrastructure financing gap.” Adesina said Africa must drastically increase its resource base, adding that with the help of the continent’s leaders, AfDB’s general capital increased in 2019 by 125 per cent, rising from $93 billion to $208 billion, the highest Continued on page 41

P&ID: Court Revives Nigeria's Bid in $10bn Award Feud The Second Circuit, a United States Court of Appeal has revived Nigeria's bid for discovery aimed at propping up bribery allegations relating to a nearly $10 billion arbitral award, ruling that a lower court wrongly found that the country seemed to be trying to avoid US Department of Justice scrutiny in the Process and Industrial Developments Limited (P&ID) case. The appeals court vacated US District Judge, Paul A. Engelmayer's late 2020 decision denying Nigeria's petition to subpoena VR Advisory Services Limited for information the country hopes would bolster criminal proceedings in Nigeria. According to New Yorkbased Law360.com, the panel

then remanded the case, saying Judge Engelmayer had improperly analysed whether the country should have gone through its mutual legal assistance treaty with the US before turning to a US foreign discovery statute. VR Advisory is a Manhattan asset manager that acquired a 25 per cent stake in P&ID in 2018. Nigeria had accused P & ID of paying bribes to secure a lucrative government contract that led to the arbitral award, said to be worth more than $10 billion with interest. Judge Engelmayer had concluded in his decision that Nigeria's petition appeared to be an attempt to avoid US DOJ scrutiny of its request. He wrote that Nigeria hadn't given a good reason why it had opted

to use Section 1782 of the US Code, which authorises courts to order discovery for certain foreign proceedings, rather than a mutual legal assistance treaty for criminal matters, under which the DOJ would decide whether to approve the request. But the Second Circuit agreed with Nigeria that the judge had, through his opinion, "effectively erected an impermissible 'extrastatutory barrier' to discovery," according to the decision. The mutual legal assistance treaty in question expands access for Nigeria and the US to criminal evidence within their borders, and it specifically states that the assistance it provides, "shall not prevent or restrict" either of the two

Malami: I Didn’t Blame Judiciary for Delay in Politically Exposed Persons’ Trials Alex Enumah in Abuja

$3 billion to support pharmaceutical and vaccines manufacturing capacity for Africa. “To address the socio-economic impacts of the pandemic and support economic recovery, Africa will need some $484 billion over the next three years. To eliminate extreme poverty by 2030, the continent will need $414 - $784 billion per year. Africa will need $7-$15 billion a year to deal with

Malami said the federal government maintained the sanctity of the provisions of Sections 4, 5 and 6 of the 1999 Constitution that delineate the roles and responsibilities of the executives, legislature and judiciary. Malami's denial may not be unconnected to a press statement by the third arm of government which on Tuesday, had expressed dismay over the federal government's recent allegations of non-transparency amongst others. He said it was on this note that the federal government supported the review of Section 121(3) of the Constitution to accommodate the provisions for financial autonomy of the state legislature and judiciary.

Malami explained further that the government also came up with the Executive Order 10 to enforce the provision of autonomy of State Legislature and Judiciary, adding that the Buhari-led administration has a record of non-interference with or meddling into the affairs of the legislature and judiciary. The statement explained that it was within the context of this quality and feature of non-interference by the Buhariled federal government and for the avoidance of sub-judice that the minister responded that high-profile cases were presented by the federal government for prosecution and the government came out with initiatives in its efforts to support speedy determination of justice.

He noted with dismay the way his response to a question in a recent interview was construed to evoke an unintended and non-existing inferences which some mischief makers projected him as blaming the judiciary. “It was an innocent statement aimed at showing and reenactment of tripartite division of powers and responsibilities among the Executive, Legislature and Judiciary,” the statement read. The minister added that in view of the crucial role of the judiciary as an essential element of democratic system, the federal government gives attention to the budgetary provisions of the Judiciary in addition to welfare-packages meant to enhance their operations.

countries from granting assistance under other agreements or laws, the panel wrote. "To be sure, parts of the United States-Nigeria MLAT do impose limits on the assistance that the Department of Justice or Nigerian attorney general will provide in response to an MLAT request," according to the decision, which provides as an example a section of the treaty authorizing the relevant authorities to deny certain requests, such as those relating to political offenses. "But reading those limiting provisions together with Article [19]'s rule of construction, it is clear that they are intended only as internal limits applicable to MLAT requests, not as restrictions on proof-gathering means external to the treaty," the panel added. The judges later noted that it is, "hardly surprising" that there would be greater limits on information available under the treaty since it obligates the DOJ to assist the Nigerian authorities in their search for information. The appeals court said neither the US Supreme Court nor any federal appellate court had previously considered whether a foreign sovereign that has a mutual legal assistance treaty with the U.S. circumvents that treaty by filing a Section 1782 application in the district court. Moving on to Judge Engelmayer's conclusion that it would be "improper" for Nigeria to use the materials being sought in a related proceeding in England focusing on the corruption allegations, the panel agreed with Nigeria that this was an error since the English proceedings clearly qualify as a "proceeding in a foreign or international tribunal" within the meaning of Section 1782. Counsel for VR Advisory declined to comment. Counsel for Nigeria did not immediately

respond to a request for comment. In its petition, Nigeria said it was seeking information that would aid its prosecution of former government officials who allegedly accepted the bribes from P & ID in exchange for the contract for a lucrative gas supply and processing agreement, which later led to the massive arbitral award. The dispute between the parties has lasted for nearly a decade, arising out of a contract P & ID signed with Nigeria's Ministry of Petroleum Resources in 2010. Under the pact, Nigeria had agreed to supply the company with natural gas for a gas processing facility that was to be built on Nigerian coastland with the goal of resolving the country's growing electricity crisis. But the project never materialised, falling apart after the government failed to uphold its end of the bargain. Process and Industrial Developments took the dispute to arbitration in 2012, and the tribunal concluded that Nigeria was liable for breaching the agreement. It awarded the company $6.6 billion in early 2017, an amount that had ballooned to more than $10 billion with interest as of early 2021. In recent years, however, Nigeria has been pushing courts in the United Kingdom to set aside the award on the basis of recently uncovered evidence of alleged fraud. The country argues the facility would not have been built anyway, since P&ID lacked the infrastructure or ability to perform under the deal, and that the contract had been obtained through bribery. It has also accused the company of building its case before the arbitral tribunal on fabricated evidence and perjured testimony from its co-founder Michael Quinn, "a notorious music promoter and weapons dealer," according to Nigeria.

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NEWS

FORTIFYING LAGOS EXCO... L-R: Special Adviser on Agriculture (Rice Mill Initiative), Dr. Oluwarotimi Fashola; Lagos State Deputy Governor, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu and Special Adviser, Public Private Partnerships (PPP), Mr. Ope George, during the swearing in of the two new EXCO members, at the Lagos House, Alausa, Ikeja ...recently

AfCFTA Secretariat, Afreximbank Seal Deal on $10bn Fund to Boost African Economies Afreximbank commits $1bn

Dike Onwuamaeze The African Continental Free Trade Area (AfCFTA) Secretariat and the African Export-Import Bank (Afreximbank), yesterday in Cairo, signed an agreement on the management of the AfCFTA Adjustment Fund (ADF) that would require $10 billion over the next five to 10 years. The base fund is a facility that would support African countries to cope with the loss of revenues from import tariffs and the private sector to effectively participate in the new trading environment established under the AfCFTA.

Already, Afreximbank has committed $1 billion towards the ADF, which is made up of a base fund, a general fund and a credit fund. The AfCFTA Secretariat and the Afreximbank stated that base fund would consist of contributions from state parties (which is AfCFTA member countries), grants and technical assistance funds to address tariff revenue losses as tariffs are progressively eliminated. The base fund, according to the two continental institutions, would also support countries to implement various provisions of the AfCFTA agreement, its protocols and annexes while the general fund

would mobilise concessional funding. They added that the credit fund, “will mobilise commercial funding to support both the public and private sectors, enabling them to adjust and take advantage of the opportunities created by the AfCFTA.” The agreement was signed yesterday by President/Chairman of the Afreximbank, Prof. Benedict Oramah, and the Secretary General of the AfCFTA Secretariat, Wamkele Mene, in the presence of Minister Plenipotentiary (Trade) of the Arab Republic of Egypt, Mr. Aly Basha, as well as some leading African bankers and captains of industry. The two continental institutions

said the general fund and credit fund would be launched very soon to address the needs of the private sector including the small and medium enterprises, women and youth. The signing of the agreement was in furtherance of the mandate given to the AfCFTA’s Secretariat and the Afreximbank by the African Union Summit of Heads of State and Government and the AfCFTA Council of Ministers responsible for Trade to establish the ADF, “to support AfCFTA state parties to adjust to the new liberalised and integrated trading environment established under the AfCFTA

Tanker Drivers Accuse Ministry, Politicians of Hijacking N621bn NNPC Road Funds Be patient, stop the blackmail, works ministry cautions

Emmanuel Addeh in Abuja The Petroleum Tanker Drivers (PTD) yesterday alleged that the N621 billion for the rehabilitation of 21 critical road infrastructure in the country had been hijacked by politicians and persons in the concerned ministry. Speaking during a press briefing in Abuja yesterday, National Chairman of the PTD, Mr Salmon Oladiti, told journalists that some persons were bent on frustrating the repairs programme as agreed by the stakeholders. The Nigerian National Petroleum Corporation (NNPC) had committed to spend the amount on road rehabilitation, following the suspension of the planned strike by the organisation. The National Union of Petroleum and Natural Gas Workers (NUPENG), the parent body, at the time, had threatened that the petroleum tanker drivers would commence a strike over the deplorable state of the nation’s highways, among other issues. However, the planned strike was later suspended after the union and the management of the NNPC reached an understanding, but with a caveat that it would not hesitate to embark on the strike without any notice if the understanding reached was not fully implemented within the timeframe. The NNPC is financing the programme through the Road Infrastructure Tax Credit Scheme in collaboration with the federal ministry of works and housing

and the Federal Inland Revenue Service (FIRS). The scheme is an initiative of that allows the private sector to get involved in road construction in exchange for a tax credit. With the renewed agitation by the drivers, products scarcity may be imminent as the union lamented that the deplorable state of Nigerian roads had continued to kill its members through road crashes and incessant breakdown of vehicles. Oladiti noted that aside accidents, the tanker drivers were always exposed to the risk of attacks by kidnappers, bandits and terrorists, with the criminals having taken over some of the roads. He maintained that the union had been on the matter of bad roads for more than three years before reaching the agreement to rehabilitate the critical roads, adding that till now there is no work currently going on from the group’s investigation. “You will all recall that at the end of the quarterly branch executive council meeting of the Petroleum Tanker Drivers, held at PTD House, Emene, Enugu on the 25th of September2021, the union issued a firm and decisive ultimatum on the deplorable state of the federal highways and the painful experiences of our members while carrying out their duties across the Country. “You will also recall, that to avert the situation of industrial action of the union, the management

of Nigeria National Petroleum Corporation ‘apprehended’ the situation by calling the leadership of the union for two separate meetings the 10th of October 2021 in Ibadan and 12th October 2021 in Abuja. “All critical stakeholders were at these meetings, including FIRS, FRSC, federal ministry of works and housing, Nigeria Association of Road Transport Owners (NARTO) and the union. “These two meetings resulted into signing of a communique indicating the readiness and willingness of NNPC to finance the rehabilitation of identified 21 critical roads at an estimated sum of N621 billion through Road Infrastructure Tax Credit Scheme. “On the basis of this communique, we suspended the intended industrial action but with a very clear warning, that should the spirit and letter of the agreement not fully implemented with focus on those jointly identified critical roads, the union will not hesitate to resume the intended actions without further warning. “To the delight of all of us, the issued was tabled before the Federal Executive Council FEC and was expressly approved within two weeks as agreed. “Unfortunately, and to our greatest shocks, we heard it from very reliable sources that some vultures in the garbs of being state governments, officials of ministry of works and housing and politicians are already depleting these funds. "They are misappropriating them

on roads and projects not intended in the agreement as approved by the FEC,” the drivers alleged. Describing it as an open day robbery, the leadership of the union vowed to go to all lengths to expose these “unscrupulous individuals.” PTD insisted that every kobo of the approved fund must be accounted for and that the union must see and broadcast the pre and post rehabilitation of all the identified 21 federal road to the whole nation. “Tax payers’ money must be accounted for. We urge every patriotic Nigerian to rise up and join us in this struggle, this is not a fight for NUPENG alone, it is our collective fight,” Oladiti stated. But when contacted, the Director, Highways Construction and Rehabilitation in the ministry, Mr Folorunso Esan, stated it was wrong for the tanker drivers to deploy blackmail as a tool, accusing them of being impatient. “Why are they impatient? They can’t damage us. This thing has just started and the contractors are just mobilising, so what is the issue? And the minister even explained to them that it is meant to for the completion of some projects. “It is not necessarily for new roads, so they have to be patient. Why are they like this? It’s even the NNPC that will disburse after verification from the FIRS. But the bottom line is that they have to be patient. The contractors are set and there are no issues. They are already on site,” he assured.

Agreement.” Mene stressed the importance of the Adjustment Fund as one of the instruments designed to support the implementation of the AfCFTA agreement and assist AfCFTA member countries to deal with short term tariff revenue losses as they dismantle tariffs and implement the Agreement. He said: “As we make significant progress in establishing schedules of tariff concessions, the finalisation of the adjustment Ffund will enable us to maintain and even accelerate the momentum. We now have an excellent tool to provide support to our state parties (member countries) and their private sector through financing, technical assistance, grants and compensation funding. “It will help them mitigate revenue losses and competitive pressures that may result from reduction in tariffs and liberalisation of markets in order to tap into the opportunities of the AfCFTA. This is another important step towards the successful implementation of the continental free trade agreement.” Oramah, in his remarks said that the funds would be used to support both the public and private sectors to address short term disruptions, while enabling

the private sector to retool, reskill, and develop capabilities to produce value added goods and services that could be traded competitively within the continent and catalyse the emergence of AfCFTA-led regional value chains. He said: "This Adjustment Fund, which is taking shape, comes on top of the Pan African Payment and Settlement System (PAPSS), which was commercially launched on 13 January 2022 in Accra, and the resoundingly successuful second edition of the Intra-African Trade Fair, which held in November 2021 in Durban. “These are some of the initiatives that we are proud to implement in close collaboration with the AfCFTA Secretariat, setting the conditions that will undoubtedly lead to a smooth implementation of the AfCFTA. “Today we have launched the base fund of the ADF to address urgent needs of State Parties relating to tariff revenue losses and the transposition costs to enable them to implement the AfCFTA agreement. We will be launching the general fund and credit fund very soon to address the needs of the private sector including the small and medium enterprises, women and youth.

150,000 Wheat Farmers in 15 Northern States to Beneﬁt from FMAN’sYield Support Segun Awofadeji in Bauchi

A total of 150,000 farmers under the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Program (ABP) who are into wheat farming in 15 Northern states are to have their yields procured by the Flour Milling Association of Nigeria (FMAN) in the various established procurement centers across the states The states include: Kano, Kaduna, Jigawa, Kebbi, Sokoto, Bauchi, Adamawa, Katsina, Gombe, Plateau, Taraba, Zamfara, Niger and Yobe. The move as contained in a statement from FMAN was to sustainably expand wheat production in the country, increase farmers’ yields and make wheat competitive. The development program for the 2021-2022 season included: Cultivation of 500 demonstration farms across the 15 northern states to provide training on good agronomic practices to 150000 farmers under the CBN’s ABP; Expansion of FMAN’s direct outgrower program with input

loans to cover over 2,000 farmers in 7 states – Kano, Jigawa, Sokoto, Kebbi, Kaduna, Bauchi and Gombe. Also, it includes the expansion of seed production with six certified seed companies, including both dry and wet season seeds and produce sufficient seed for 5,000 outgrowers next season. The partners for the program include Romarey Seeds, Premier Seeds, Lifted Agro, Greenspore, Sow Agritech and Noba Africa. According to FMAN in the statement made available to newsmen yesterday in Bauchi, during the celebration of the Wheat Farmers Green Field Day, research trials were on its 10-hectare research farm in Jigawa for testing new seed varieties and improved agronomic practices. These it listed to include collaboration with Lake Chad Research Institute, CIMMYT and ICARDA Grant funding for National Agricultural Seeds Council to expand their capabilities to test seed quality, certify seed production and train farmers to differentiate high-quality seed from others in the marke.

THURSDAY FEBRUARY 10, 2022 • T H I S D AY

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NEWS

WIKE THE PEACEMAKER?... L-R: Former Governor of Plateau State, Jonah Jang; Governor of Rivers State, Nyesom Ezenwo Wike and Senator Jeremiah Useni at Jos after Governor Wike brokered peace between Jang and Useni ....yesterday.

Bauchi Gov Raises the Alarm over Unknown Helicopter Operating in Lame-Burra Forest Navy: we’re aware of situation Segun Awofadeji in Bauchi Bauchi State Governor, Senator Bala Mohammed, has raised the alarm over the suspicious movement of an unknown helicopter in Lame-Burra Forest in Toro Local Government Area of the state. But the Nigerian Navy said it was aware of the situation and was working to contain it and arrest the helicopter in question.

Mohammed called on the Nigerian Air Force to intensify surveillance in the area with a view to identifying the suspected helicopter to guarantee safety of lives and properties of the people. The governor disclosed this yesterday, when he granted audience to the newly posted Air Officer Commanding Special Operation Command in Bauchi,

Air Vice Marshal Tajuddeen Yusuf. Mohammed said he was raising the alarm based on intelligence received from security agents and the local community over the suspicious movement of the helicopter. According to him, intensifying security operations in the area by the officers and men of the Nigerian Air Force became

Lawmakers Commend Emzor’s Investments in Nigeria’s Health Sector Dike Onwuamaeze The Chairman of Senate Committee on Health, Dr. Ibrahim Yahaya Oloriegbe, has commended Emzor Pharmaceutical Industries Limited for its strategic investments in the health sector of the Nigerian economy. Oloriegbe gave the commendation when he led a delegation of the National Assembly to a visit to Emzor’s factory in Lagos. He said the factory, “is a major achievement for the health security of the country.” He also used the occasion to reiterate the importance of health security, recalling that during the COVID-19 lockdown, “the health insecurity of import dependent countries became evident.” Speaking during the company visit, the Chairman, House of Representatives’ Committee on Health, Yusuf Tanko Sununu, said the visit restored his confidence in the health sector of the country, saying “considering the number of products the Emzor factory manufactures for the domestic and international markets.” The delegation, which also included the Chairman, Pharmacists Council of Nigeria, Professor Ahmed Tijani Mora, was welcomed by the Group Managing Director and Founder of Emzor, Dr, Stella Okoli, and Emzor’s Executive Director for General Duties, Mrs. Uzoma Ezeoke. Ezeoke told the delegation that the Emzor Group transited from a sales company to a manufacturing concern that today export its products to Africa, Europe and America. She also said Emzor now has

the API Manufacturing Technology transfer and licensing agreement with India’s Mangalam Drugs and Organic Limited, to locally manufacture and distribute Active Pharmaceutical ingredients (APIs) for the treatment and prevention of malaria. “This has led to the development of a world class API manufacturing facility in compliance with international standards and the first of its kind in Sub-Saharan Africa. This agreement affirmed Emzor’s long standing position to strengthen the pharm sector in Africa,” Ezeoke said. She added that the company had grown into a legacy phar-

maceutical company with four modern factories that manufacture over 260 world-class pharmaceutical products. She disclosed further that Emzor has a network of over 120 distributors covering public and private institutions across West Africa. “Emzor is the largest indigenous pharmaceutical manufacturer in the country with over 120 products, all NAFDAC approved.” “Its ultra-modern pharm factory, which is known as Emzor Campus, is a World Health Organisation’s (WHO) compliant factory and is the largest pharmaceutical facility in West Africa.

imperative, considering the present security challenges in many parts of the country. He also assured the people of the state government's commitment to providing necessary support towards consolidating on the

gains against various forms of criminalities across the state. Earlier, Yusuf said they were aware of the situation and investigation was on-going with a view to apprehending the suspected helicopter.

While commending the Bauchi State government for its concern for the security in the state, Yusuf called on the public to assist the command with useful information to enable them discharge their duties diligently.

Double Registration to Attract One Year Jail Term in Amended Electoral Bill Sunday Aborisade in Abuja Any voter who engages in double registration risks one-year jail term, payment of N100, 000 or both. This is according to the newly passed 2010 Electoral Act (amended) Bill 2022 currently awaiting the assent of President Muhammadu, Buhari. A clean copy of the bill obtained by THISDAY yesterday, however, reiterated its provisions for voters to transfer registration details from one place to another. The proposed legislation, in Section 12 (1), listed the criteria that qualified a person to be a voter in Nigeria. It stated, "A person shall be qualified to be registered as a voter if such a person is a citizen of Nigeria, has attained the age

of 18 years, and is ordinarily resident, works in, originates from the local government area, council or ward covered by the registration centre." It added that the person must "present himself to the registration officers of the commission for registration as a voter and should not be subject to any legal incapacity to vote under any law, rule or regulations in Nigeria." Section 12 (2) warned, "A person must not register in more than one registration centre or register more than once in the same registration centre. "A person, who contravenes subsection (2) commits an offence and is liable on conviction to a fine not more than N100, 000 or imprisonment for a term not more

than one year or both. "A person, who before the election is resident in a constituency other than the one in which he or she was registered, may apply to the Resident Electoral Commissioner of the state, where he or she is currently resident for his or her name to be entered on the transferred voter list for the constituency." It further explained that an application under subsection (1) shall be accompanied by a copy of the applicant's voter’s card and shall be made not later than 90 days before the date of an election in the constituency, where the applicant is resident. The amended bill, transmitted to Buhari penultimate week, is still awaiting presidential assent.

NIPC Seeks to Review Pioneer Status to Qualify Emerging Companies for Tax Relief James Emejo and Folalumi Alaran in Abuja The federal government yesterday said it would undertake a review of the Pioneer Status Incentive (PSI) programme, under the Industrial Development (Income Tax Relief) Act, in order to include emerging activities that require government support. The acting Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Mr. Emeka Offor, also said the government would expunge companies deemed to have attained maturity from the list of beneficiaries going forward. Speaking at the first quarter 2022 media briefing, he said the commission was committed to ensuring that Nigeria attracts the quantum of investment required to stimulate sustainable socio-economic

development. Essentially, the PSI represents a tax incentive to companies in industries labeled as pioneers, and are temporarily exempted from paying company income tax in their formative years to enable make considerable profit for re-investment into the business. Administered by the NIPC, it is a tax holiday granted for five years (initial period of three years and renewable for additional two years) to qualifying industries that meet the criteria, from paying corporate income tax. Companies qualified for pioneer status also enjoy the benefits of exemption from 10 per cent withholding tax on dividends paid out of business profits. Also, the NIPC boss disclosed that investments valued at about $23.3 billion were tracked by

the commission last year. This represented about 39 per cent increase over the $16.74 billion recorded in 2020. The investment announcements, though not actual investments, nevertheless helps in gauging confidence level and appetite in the business environment. In the past, some of the investments tracked did materialise. Offor added that increase in value of investment interests in the country further demonstrated the growing adaptation to the global ‘new normal’ after the economic disruption occasioned by the restrictions imposed to check the spread of the COVID-19 pandemic. He said the improvement was showed the growing confidence of investors in the government’s efforts to improve the national investment landscape.

According to him, Lagos, Bayelsa, Delta, Akwa Ibom and Adamawa ranked as the five leading investment destinations with $8.7 billion, $3.6 billion, $2.9 billion, $2 billion, and $1 billion respectively in 2021. The manufacturing sector had 20 projects valued at $10.5 billion or 45 per cent of total investment prospects. Other were construction 16 per cent, electricity, gas, steam and air conditioning supply 13 per cent, information and communication 12 per cent, and mining and quarrying 9 per cent. Offor however, called on all Nigerian, at home or in the diaspora to develop a conscious sense of patriotism by being cautious of what they about the country and emphasise on its positive achievements over the negative narratives.

He said to woo as many domestic and foreign investors this year, the commission would continue to build on past successes while charting new paths for sustainable development of the capacity of staff of the State Investment Promotion Agencies and stimulate healthy competition for investments across the country. He added that the commission would further leverage on relationships with the chief executives of states to ensure sustained appreciation of the issues of the business environment with the understanding that the aggregation of the sub-national perception forms the national image. He said the NIPC had evolved a strategy to profile opportunities in each state of the federation as well as sustain the engagements with the sub-national governments.

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COMMENT

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

INVESTORS AND PSYCHOLOGY OF EARNINGS SEASONS Sola Oni writes that equity investors are likely to purchase shares of companies that have proposed high dividend

he first quarter of the year is always characterized by announcement of audited financial results by the quoted companies on Nigerian Exchange Group PLC (NGX PLC). One of the key drivers of an efficient market is the availability of authentic and regular information from quoted companies. It is a Post Listing Requirement that a listed company must submit quarterly and annual financial statements to the Exchange for immediate broadcast to all the Dealing Members. The immediate announcement is to prevent insider abuse where someone can take advantage of privileged information for purchase or sale of stocks. The Exchange imposes sanctions on any quoted company that flouts the Post Listing Requirements. As part of its investor protection policy, last week, the Securities and Exchange Commission (SEC), announced new filling system for quoted companies. According to SEC, unaudited fourth quarter financial statement should be filled within 30 days after the quarter ended and annual audited financial statement within 90 days after the year ended. An investor whose investment objective is income invests a huge percentage of his money in stocks of companies with track record of robust dividend payment. This is unlike speculators who invest primarily for capital appreciation. A speculator can buy stocks in the morning and sell in the afternoon. This is the earnings season on NGX. Audited financial statements of the quoted companies across various sectors have been pouring in with announcement of dividend and date of annual general meetings. A leading manufacturer of rigid foams and other household materials, Vitafoam Nigeria PLC, has announced a whopping net profit of N4.38 billion for the year ended September 30, 2021, compared to N3.46 billion in September, 2020. The company, whose annual general meeting is scheduled for 4th March 2022 has proposed a dividend of N1.50 per ordinary share as against its previous 70 Kobo, an increase of 114 percent over the previous one. Guinness Nigeria PLC, Meyer PLC, Airtel Africa PLC, Nestle Nigeria PLC, MTN Nigeria Communications PLC, and PZ Cussons PLC have also announced results. Total Energy Marketing Nigeria PLC grew its profit before tax by 759 percent to N24.99 billion, in 2021, its revenue increased to N341.17 billion from N204.72 billion. Cornoil posted a profit before tax of N3.79 billion last year, as against N2, 15 billion in 2020 while its revenue hit N126.69 billion from N117.47 billion. MRS Oil, Nigeria PLC posted a profit before income tax of N114.75, as against N2.26 billion in 2020 and recorded revenue of N71.98 billion from N41.98 billion. Bit Eterna PLC announced a loss before tax of N647.93 million last year as against a profit after tax of N702.46 million in 2020.

SOME OF THE KEY FACTORS THAT WILL IMPACT THE STOCK MARKET IN NIGERIA IN 2022 ARE ALIGNMENT OF MONETARY AND FISCAL POLICY, IMPLEMENTATION OF 2022 BUDGET, ESPECIALLY, THE ISSUE OF BUDGET DEFICIT FINANCING, RISING INFLATION, ANOTHER ROUND OF NAIRA DEVALUATION AND HANDLING OF PETROLEUM SUBSIDY, AMONG OTHERS

The stock market ended green in January on NGX as investors earned N2.04 capital gains, an average year-to-date return of 9.15 percent. The bullish rally tends to validate the concept of the January effect when stock markets are expected to enjoy bullish run due to a number of variables. But the concept has become a subject of debate as well. Risk averse investors channel their money to fixed deposit, mutual fund, and fixed income securities such as bonds while those with high risk appetite take position on blue chips. At the basic level, equity investment generates capital gain, dividend and bonus shares. The psychology of equity investors at the moment is to purchase shares of companies that have proposed high dividend and dump those which are unable to reward shareholders. It all bothers on portfolio rebalancing. Dividend is after all an income. Equity investment provides an opportunity for portfolio diversification as an investor can own stocks in different sectors of the economy. It is easy to liquidate, especially through the secondary market. There are large, mid and small capital equity funds, depending on the investor’s investment objective and quantum of funds for investment. There are multi capital equity funds, thematic equity funds whereby mutual funds invest in specific sectors such as banking, pharmaceuticals and IT. There are balanced funds where part of the money is invested in stocks and others in debt instruments and the equity linked savings scheme which provide investors tax savings. Market pundits have always maintained that returns on equity is higher than fixed income in the final analysis. The yields on some stocks on NGX are above 10 percent, implying that they rank higher than yields on fixed income securities. Many of such stocks are currently trading below their intrinsic value on NGX. The rate at which investors scout for profitable stocks was demonstrated recently with the oversubscription of MTN Nigeria’s Offer for Subscription by 139.47 percent. Some of the key factors that will impact the stock market in Nigeria in 2022 are alignment of monetary and fiscal policy, implementation of 2022 budget, especially, the issue of budget deficit financing, rising inflation, another round of Naira devaluation and handling of petroleum subsidy, among others. Investment in a diversified portfolio of stocks is an excellent way to hedge against inflation. This can be achieved by investing in index fund and mutual trusts. In a period of rising inflation, investing in individual stocks requires sound investment advice of a stockbroker as a risk management technique. Oni, an Integrated Communications Strategist, Chartered Stockbroker and Commodity Broker, is the Chief Executive Ofﬁcer, Sofunix Investment and Communications

WHEN HUMANS BEG FOR DISEASE When viruses are allowed to stay within their accidental hosts, they could remain ‘peaceful,’writes Victor C. Ariole

e know from the fossil records that no single species of large-bodied animal has ever been nearly so abundant as humans are now, let alone so effective at arrogating resources… hence increasingly viral exchanges… we shake viruses loose from their natural hosts… David Quammen in Spillover, 525. According to the author quoted above, 1918 – 1919 flu killed about 50 million people but Lassa fever, Ebola and HIV-1 predicted to create greater havoc than flu, as Covid-19 also for Africa, remain milder; even when their likely reservoir host – chimps, primate, bat, rat, etc., are mostly African animals. Somehow he reasons that if not for unrelenting research activities to find out the most lethal viral infection that could eliminate those animals as a priori knowledge sees them as incubators of vicious bio-weapon, the virus could as well had remained in them without spreading in its state of “never being able to replicate” as it finds in the animals dead-end hosts. America has known what it means by not carrying out research on Ebola as 2004 experience that killed a Russian on Russian soil showed, and why Ebola should remain within its best ecological space toward remaining in its dead-end host in Africa. At worst, if provoked like some villagers feel that HIV or Ebola were provoked, it could be made to have a localised effect. Dead-end host is not a “reservoir host” but it helps in caging the virus. Experience has shown that when viruses are allowed to stay within their dead-end hosts and not provoked, they could remain peaceful and not virulent. Such experience

comes also from how the Africans – Congo, Gabon, Central African Republic – describe their own knowable process of either Ebola or what ought to be HIV – 2 before excessive research turned it to HIV – 1 and it became virulent. They call it the disease of red diarrhea, Opepe, or ezanga or even nganga healer disease and they know without too much worrying about research that it comes from chimps but not quite lethal when it remained as scientists called it HIV – 2. According to Quammen’s book – Spillover – French soldiers came to camp in a bush in central Africa in 1996 and they shot off their rifles which affected the ecology of chimps’ habitat as they started dying; hence releasing the viruses in them, either as host reservoir or dead-end host. Africans acknowledge the chimps as dead-end hosts having co-evolved with the virus. However, like the globalism syndrome as satirised by Toni Morrison – Empire, internationalism, one world, universal – localisation is also setting in; that is, acknowledging that some diseases like Ebola is local to Africa; and perhaps in the name of demonising a place, looking for what is localisable to marginalise others; especially in the form of Malaria that kills more Africans than any other diseases given that the Covid-19 prediction of killing more Africans than other people failed in Africa. It is like ‘pathologising’ the mother continent using multi-media, deriding it with all the research results possible, in order “to naturalise the pathology” used in demonising it. So, malaria is about taking a relay from Covid-19. Mosquitoes as known transmit infectious pathogens and parasites that cause diseases such as Zika, Chikungunya, West Nile fever, or Malaria – they are vectors and when they bite any sick living matter whether animal or plant or human, they remain

infected by that pathogen related to the sick animal or plant or human. However, it seems that the most lethal is when they pick such pathogen from animal to humans, and great lethality is expected; hence P. Knowle – a type of infection could have been as a result of excessive research effort. Personally, I have seen fine looking mosquitoes – bigger than the ones I see in Africa – in Barbados, France, Italy and Americas. They do not even have any biting effect and had wondered what they bite to remain as beautiful as I see them. The African ones look very vicious in outlook; tinier but bulging stomach and darker. So, it could as well be the most virulent, biting any sick animal or plant before getting to humans. Hence a great localisable bio-terror or biochemical weapon. World Health Organisation (WHO) has been announcing that Africans should be mindful of tropical diseases as they could emerge very lethal just like Covid was announced as the next “Big Outbreak” in February 2003 when it affected Hong Kong from Guangdong China and was about getting to Toronto – Canada before it was nipped in the bud; and unfortunately it re-appeared in 2019. Hong Kong was not as then a demonisable localisable space as both Britain and China were working hard to repair their past ignominy as Hong Kong represents. In deed following WHO announcement, Melinda and Bill Gates Foundation seems to have turned their attention to malaria that is most lethal, known as “Plasmodium knowlesi”, notwithstanding other variants as “Plasmodium Vivax”, Plasimodium Felaparum or less fatal ones “P.ovale” and “P.Malariae”. The former has, for sure, what to fear about its zoonotic dimension – like being transmitted by mosquitoes that infect animals also.

Experts see what that Foundation intends to do as “admirable goal, a generously imaginative dream” but they wonder how it could work if it fails to follow the pattern that eliminated yellow fever in 1901 – the first viral infection recognised in humans. Walter Reed and his team of microbiologists saw yellow fever as transmitted by mosquitoes and worked on killing-off all those mosquitoes in Cuba. So, how are Africans going to deal with their own type of yellow fever that has turned malaria? Quammen in Spillover expects scientists not just to unearth virus so as to make money, with the most lethal one they could discover, just as the scientist who won the Nobel Prize in 1902 – Roland Ross, as he invented what cured a malaria-infected white person out of what was later discovered as unorthodox process. So, in this era of globalism that could exclude or annihilate those that could be seen as nuisance to the “Empire-minded” group in what Toni Morrison refers to in his Mouth Full of Blood as: world governance watching an almost biblical flood destroy a city/a continent because its people were surplus, or unwanted, in the march to “defined globalism”. Bioweapon or bioterror could do it and any outbreak greater than the 1918 – 1919 flu or Black Death episode could do it. It must be avoided by restraining excessive virus provocative and unleashing research efforts. Research efforts are good as that is why universities exist but they should be mindful of the African knowable processes, that had in the past acknowledged some viruses they have already co-evolved with and have met already their dead-end hosts in the African bio-diversity ecology. Ariole is Professor of French and Francophone Studies at University of Lagos

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

EDITORIAL SUPER EAGLES, AFCON AND QATAR 2022 The relevant authorities should ensure that the Super Eagles hoist the ﬂag of Nigeria in Qatar

he Super Eagles of Nigeria crashed out of the Africa Cup of Nations (AfCON) tournament which ended last Sunday in Cameroon, with victory for Senegal. The loss to Tunisia was against form guide as the Super Eagles had become bookmakers’ favourites after winning all their three group matches with aplomb. But the national team that had only conceded a goal while scoring six, suddenly reached a cul-de-sac. What made the elimination particularly painful was that Nigeria lost to a Tunisian side that only survived the round of 16 as one of the best third placed teams, having been defeated by Mali and Gambia in Group F. However, without being blinded by sentiment, perhaps only few Nigerians expected the Super Eagles to perform extraordinary feats given the circumstances POLITICAL FIGURES AND surrounding their BUSINESS TYCOONS departure for the MUST DESIST FORTHWITH AfCON campaign. FROM MOUNTING UNDUE We recall that the PRESSURE ON THE PLAYERS substantive coach Gernot Rohr was THROUGH PROMISES OF sacked four weeks MONETARY AND SUNDRY to the start of GIFTS the tournament because of the team’s shoddy outing in the build up to the Africa World Cup 2022 qualifying campaign. Austin Eguavoen was only appointed the interim coach few weeks to the start of the Nations Cup. Besides, the team did not have the beneﬁt of quality warm up matches before the tournament due to travel restrictions and other health protocols warranted by COVID-19 pandemic. Some key players were also unavailable for selection. For these and other reasons, we can hardly hold Eguavoen liable for Nigeria’s fate at the tournament. However, Eguavoen may also have played into the hands of the Carthage Eagles who exposed his tactical limitations by choosing to employ the same formation and approach that worked in the victory

Letters to the Editor

against Egypt. Our players were also proﬂigate as they failed to convert any of the chances they created while their Tunisian opponents scored the solitary goal in the few forays they ventured upfront. The Super Eagles were particularly appalling with their conversion of set pieces, especially free kicks, and corner kicks.

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI 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, IJEOMA NWOGWUGWU, 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

ith Eguavoen confirmed as the substantive coach of the Super Eagles, these observations will serve him as the national team prepares for the crucial World Cup qualifying playoff against archrivals, Ghana next month. The Super Eagles cannot afford to jeopardise the qualification for Qatar 2022 in the two-legged affairs against the Black Stars. Beyond other factors, pride is always at play whenever Nigeria and Ghana clash and we expect the two matches billed for Accra and Abuja to be tough. Meanwhile, political figures and business tycoons must desist forthwith from mounting undue pressure on the players through promises of monetary and sundry gifts. This practice, often encouraged by the Sports Ministry and Nigeria Football Federation (NFF), is a needless distraction. In Cameroon, a businessman was even allowed to venture into the players’ dressing room at the interval during the match between Nigeria and Egypt, with promise of hefty gratifications for goals scored. This brazen act of indiscipline is a Nigerian malaise that has dogged almost all our previous participations in global sporting events, especially football. Overall, if reports of what transpired in Cameroon are any guide, then the NFF has learnt no lessons from recent past. The players and the NFF were said to have been embroiled in a row over payment of their bonuses until the Central Bank of Nigeria (CBN) intervened to save the day. The NFF and the Sports Ministry should be held accountable for what they do with the money voted for these tournaments. But more importantly, they must ensure that the Super Eagles hoist the flag of Nigeria at the FIFA World Cup in Qatar. It is a huge global platform for the exhibition of national pride that we should not miss.

TO OUR READERS Letters in response to speciﬁc publications in THISDAY should be brief (150-200 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 (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

THE GAME OF FUEL SCARCITY

igeria is an interesting place, a pot pourri of many things, the good, the bad and the ugly. Despite the greatness it holds potentially and the possibilities of a bright future, it has been blighted by its people. I always ask Nigerians jokingly to confess their sins to Nigeria. It is akin to the Catholic confession model. I say that because the internal turpitude of its people constantly blights its prospect. It’s rich lush landscape is polluted by its people with illegal refineries, it’s delta and mangrove forests have mangled because of the treacherous despicable desire by people not to preserve the environment. Its good climate is not put into good use. Some will argue vociferously, that the problem is leadership, but this argument is false without including the followership. It is like saying that only a striker should be blamed when a football team loses a game. The game of scarcity of fuel has been on for a while. Only last month, there were fears about removing subsidies and the government backtracked due to political reasons and pledged another N3 trillion, we don’t have to a drainpipe. Isn’t it shocking, over the years, how we have continuously paid subsidies without thinking of building refineries? Isn’t it bewildering that after the 2012 subsidy protest, nobody deemed it fit to build a refinery? Aren’t we jokers? It is the responses that shock me the most about this current crisis; a report recently released by the Guardian in the UK enunciates the terrible quality of our fuel import, asserting the environmental effect of this and the terrible pollution caused by this fuel. But Alas! Nothing has been done about it.

All of a sudden, magic happens, After paying big subsidies we claim to have imported toxic fuel. Isn’t it shocking that in a country of over 200million people, not one, NOT ONE had the presence of mind to ascertain the quality of import? I am sure NNPC will get funding for quality control, just like we spend billions on our refineries every year and no fuel or just like we pay for Ajaokuta every year, but we import steel to build rail lines. While this pantomime continues, the Association of Road Transport Owners - obviously those that carry our petroleum products around, threatened a strike because of increasing cost. So the plot of that strike is to be an alibi for the scarcity I think. I watched two days how NARTO simply said, logistics for carrying products is not worth the money. The premise for the scarcity initially was bad fuel, now a NARTO strike, then there is a third Alibi, the Nigerian Labour congress says the recent fuel scarcity is a conspiracy by the government to remove subsidies and labour will resist all that. In amazement, I don’t know what the cause of the scarcity is. It is akin to the story in “Murder on the Orient Express” by Agatha Christie, where everyone in the train had a motive to kill the victim. Hence, my earlier theory of the problem of Nigeria being caused by its people. In the middle of all this, the poor continues to suffer. Some that have the chance, continue to relocate, we continue to build an unequitable society. Money rituals continue to happen, iniquity continues to take over society. I think we must ask ourselves the critical questions about socialization of our society. How long can we last with this imbalance? Rufai Oseni, rufaioseni@gmail.com

ATTENTION: CHAIRMAN, ANIOCHA SOUTH LGA

ear Jude Chuwkuwinke: Since you emerged as the local government chairman of Aniocha South Local Government Area, Delta State, your tenure has been a disaster to the people who you claimed elected you. But that is not a surprise to people like us because we knew anyone imposed on the people can’t perform miracles. Your policies have all been anti-human imposing levies on people who are struggling to survive. Yet you have not provided them with any basic amenities to make their lives better. What is baffling however is that you are a pastor. No wonder many people no longer go to churches. God already said that HIS judgement would start from the Church. We await to see how you would end your tenure, though we know it will be of no impact. Even your predecessor Hon. Isaac Anwuzia wasn’t as bad. But like I said anybody imposed on a people can’t perform any miracles or have human sympathy. Ezi Okwu, eziookwu@gmail.com

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T H I S D AY ˾ THURSDAY FEBRUARY 10, 2022

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com (08114495324 SMS ONLY)

Emelumba: Ihedioha Claimed Victory in the 2019 Imo Governorship Election with Three Local Governments Declan Emelumba, Imo State Commissioner for Information and Strategy told a group of journalists including Nseobong Okon-Ekong that traducers of Governor Hope Uzodimma of Imo State pay him an unparalleled compliment when they refer to him as ‘Supreme Court Governor’

themselves but when the matter got to the Court of Appeal, the justices of the appellate court queried why the tribunal will say that someone it subpoenaed is an interloper. So, it was the dissenting judgement of the Court of Appeal that the Supreme Court looked at and held that Governor Uzodimma won the election. That was why I said that he is a product of justice and the summary is that Ihedioha never expected that. He believed that given the Nigerian factor he will sustain illegality, so when everything crumbled, he was devastated and he got stuck in Abuja and they vowed to make the state ungovernable but the governor has continued to prevail because God and the people are with him.

o you feel discouraged when some people still refer to him as“Supreme Court Governor? No. In fact, I don’t know why people look at it negatively. For me, it is a very positive thing because it shows that the governor is a product of justice. What does the Supreme Court stand for? It is the highest judicial body in the country and there is hardly anyone who has run for governorship in this country, whose electoral victory was not finally determined by the Supreme Court. For me, what those making such reference are affirming is that the governor is a product of justice. The Supreme Court is not a Kangaroo court; it is a national institution that stands for justice, so when you call him ‘Supreme Court Governor’, in essence what you are saying is that he is a product of justice, after all, governors who have ruled Imo State ended up getting the final validation of their candidacy at the courts. Even those who ran for national and state assembly elections, got to wherever is the terminal judicial point for such elections to affirm their respective mandates. The security situation in the state appears to have improved, what measures did the government put in place to achieve this? The security situation in the state has really improved and that is because of the determined efforts of the governor and the support of the presidency. Like we have always said, the security challenges in the state are politically motivated and those behind it have been exposed but through the support of the presidency, they are being routed as evil cannot thrive forever. There is always an expiry date to evil and that date is here, which explains why the security challenges are now under control. If there is anybody who needs evidence that the security challenge is politically motivated, the person should ask himself why is it that it is in the governor’s immediate enclave – Oru East, Oru West and Orsu local government areas – that usually witness attacks by criminal elements. It is because they want to score a point that it is the governor’s people that are behind insecurity in the state. When the attacks on police stations and other government facilities started, the governor moved in immediately by increasing support for the security agencies and was supported by the presidency; so they couldn’t succeed in achieving their aim of making the state ungovernable, especially the state capital. So, the question is: Why is it that they now shifted attention to the three local government areas that I mentioned? They concluded that since the governor had driven them out of Owerri, the next thing to do is to go to his place and be causing problems there but that is being addressed and the whole situation is very much under control. Why is it that key political actors in Imo State, especially those who were involved in the events of 2019 have refused to let go two years down the line? Two reasons account for that. Number one is that former Governor Rochas Okorocha believed that he had conquered Imo State. In fact, when Governor Uzodimma, then a senator, got the ticket of the APC and returned to the state from Abuja, the whole state was agog; people trooped out to welcome him and the song they sang was ‘who say men no dey, men dey.’ Why did they sing this song? It was because Okorocha had declared that there are no men in Imo State because he felt that he has conquered the state. Also, that was why he had the courage to tell Imo people that his son-in-law will succeed him and he was almost coasting home with that design until God used Governor Uzodimma to take away APC ticket from him.

Emelumba

That was his main carrot because if Uche Nwosu had got that ticket, he probably would have been the governor of Imo State today. So, Okorocha will not forgive Governor Uzodimma and he is not pretending about that. His plan was to have a dynasty because after Uche Nwosu, the next person to be governor was his son. But the only thing that qualified Uche Nwosu to be governor is that he is married to Okorocha’s daughter. Emeka Ihedioha, on his part, claimed to have won the 2019 governorship election with three local governments, but 80 per cent of the votes for which he was declared winner of the election were from the three local government areas in Mbaise and he scored far above the registered voters. He didn’t win in any other local government. He didn’t make the spread as required by the constitution but the Independent National Electoral Commission (INEC) for whatever reasons declared him winner and asked other candidates to go to court. He was confident that having been declared winner, nothing will happen until the governorship seat was taken away from him at the Supreme Court. So, how do you expect that he would be happy? And I want to explain that the reason

why Governor Uzodimma won the election is obvious; his votes in 388 polling units were excluded and he went to court to challenge that. He pleaded the court to add the excluded votes and declare the results. When we tendered evidence of the excluded votes at the tribunal level, the PDP dismissed it as fake but they couldn’t provide evidence to justify their claim. Even INEC failed to provide the original result sheet because they knew that anything they tendered will tally with what we had. So, the tribunal held that due to their failure to produce the original result sheet, it will admit the result we tendered. And I want you to ask why the tribunal decided to go to Abuja to deliver its judgement. The judges wouldn’t have gone to Abuja if they didn’t know that the incumbent was going to lose that case. That judgement was given on a Saturday and there were two others; that of Uche Nwosu and Ifeanyi Araraume. The two were typed, while our own was handwritten and even as they were reading it, they were looking at themselves and it showed that something happened somewhere. But interestingly, the aspect that gave us victory was admittance of the result we tendered and when INEC and Ihedioha failed to produce theirs, the tribunal subpoenaed the Commissioner of Police to bring the one in police custody. He brought it and it tallied with the one we had but the same tribunal, in its judgement, described the same Commissioner of Police as an interloper; that he didn’t get the permission of the Inspector General of Police to appear before the tribunal. That was how they managed to overrule

When you call him ‘Supreme Court Governor’, in essence what you are saying is that he is a product of justice, after all, governors who have ruled Imo State ended up getting the ﬁnal validation of their candidacy at the courts. Even those who ran for national and state assembly elections, got to wherever is the terminal judicial point for such elections to aﬃrm their respective mandates

Two years on, what outstanding things can be credited to the Governor Hope Uzodinma administration in Imo State? A lot of people find it difficult to believe that within two years, we have commissioned 32 roads and as we speak, 60 more roads are under construction. A lot of people will also not believe that within two years, we have been able to address major infrastructural challenges in Imo State like the Relief Market Road and the Lake Nwaebere Road. Houses there were not only swallowed by flood but overgrown with grass until the governor came and used the balloon-driven technology to tackle flooding on that road. So, in terms of road infrastructure, which we call road revolution, we have surprised everybody and the opposition is dumbfounded. They are now throwing sand because there is nothing they can say. Apart from the road revolution, we have revived the civil service that was lost under the previous administration. That administration told civil servants to come to work three times a week and any day outside those three days they see you around the state secretariat, you would be driven away like an intruder or even a thief. But we have been able to reposition the civil service, so that it can be professionally run. The permanent secretaries are back as accounting officers of their respective ministries and that is a big plus for this administration. In terms of youth empowerment, we have empowered over 18,000 youths. Last year, 15,000 youths were empowered at a go. They were trained and each of them given N250,000 as starter pack. In terms of industry, we have recovered the Ada Palm Plantation in Ohaji. The shoe factory that was built by the Sam Mbakwe administration was owing N1.3 billion to the Asset Management Corporation of Nigeria (AMCON) but the Uzodimma administration has redeemed that debt and it will soon commence operations. The Otamiri Water Works has also been revived and for the first time in 15 years, supply of pipe borne water has been restored to Owerri metropolis and would be soon extended to other parts of the state. Generally speaking, we have changed the narrative and Imo State is looking up and the people can see clearly that this government has come to work by doing projects that will endure and not make-shift things. The greatest signature projects we have for now are the Owerri-Orlu Road that is about 34 kilometres and the Owerri-Okigwe Road that is about 54 kilometres. These two projects alone cost the government about N60 billion and I will tell you that when they are completed, the economy of the state will turn around for better. The Imo State University Teaching Hospital is also back to life. Anybody who goes there will not believe that it is the same place before this administration came on board. State-of-the-art equipment have been procured by the state government and the people of the state have started feeling the impact. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ THURSDAY FEBRUARY 10, 2022

POLITICS

Oladejo: Tinubu Will be the Healthiest President Nigeria Ever Had Following the exit of the Lagos4Lagos group from the Lagos State chapter of the All Progressives Congress, the party’s spokesman, Mr Seye Oladejo addressed selected newsmen including Segun James on the development

ecently, former member of your party, Mr. Olajide Adediran, better known as Jandor and members of the Lagos4Lagos Group were received into the Peoples Democratic Party (PDP) by the party’s National Chairman, Senator Iyorchia Ayu and some governors in Lagos. What is your view about the event that happened that day? We regard what happened as part of festive activities bordering on entertainment towards end of the year and the New Year. It underscores the folly of the Peoples Democratic Party (PDP). The PDP governors came all the way to Lagos to receive a political non-starter. The same PDP governors that couldn’t stop their colleagues from jumping from their umbrella to the ruling party, All Progressives Congress (APC) came to Lagos for what I would describe as a circus. They had leaders of PDP who overtime could not even deliver their polling units boasting that they will win Lagos. They had the likes of the former Senate President, Bukola Saraki, who literally lost deposit during the last elections in Kwara State. For us, what happened was a non-event. They said they have a crowd but we are aware of the fact that they rented crowd. We are aware of the fact that they mobilized crowd from neighbouring states. We are of the fact that PDP states should be on the lookout to make sure that they are not shortchanged. I want to congratulate the gentleman, the young man, Jide Adediran, who is currently excited that it was a very good payday for him. I am sure he must have made massive profits from the contribution of those PDP governors. For us, we are not losing sleep. It is not in their DNA to win anything and that will not change the political situation in the state regarding the next elections. During the rally, the Lagos4Lagos made a strong statement that they are taking over Lagos politics from being decided by just one man. They said they want to take over Lagos for the indigenes. What is your take on that? I think they should just wake up from this daylight nightmare. They have been saying the same thing since 1999 about Lagos State being controlled by one man, who has remained invincible for them in their imagination. Democracy doesn’t come better than this. If since 1999 our party has been putting forward candidates that Lagosians find acceptable; who have been building on the achievements of the previous government since the advent of democracy in 1999, I think Lagos can count itself lucky. All these refrains about elections being rigged bothers on lazy excuses from politicians who don’t know their onions. PDP has nothing to offer this state. Let me just assure you that in the coming elections, despite all the challenges of the recent past, Lagos State still remains on the firm grip of APC. It has become an obsession for the likes of Bode George and his co-travelers that anytime the issue is about Senator Bola Ahmed Tinubu, they wake come alive. Bode George has been threatening fire and brimstone that should Tinubu contest the presidency, he would also contest. He has also said that he will go into exile if Tinubu becomes the president of the country. We are waiting for him and we will remind him of his statements. He has good options to make any way and he could consider relocating to countries like Afghanistan and maybe Burkina Faso that just fell under the rule of the military again. When the question becomes the issue of reputation, integrity, principle and the rest of it, there are some people in this country that should just be seen not heard and in the forefront of that are the likes of Bode George, who looking at the two opportunities he had as the Governor of Ondo State and as the Chairman of the Nigerian Ports Authority (NPA) did not cover himself in glory. So, people like that should just be onlookers when we talk about politics in the state and country. We also noticed that they have been able to put on their payroll some journalists that are at best unethical and unprofessional in

inception, there has always been a level playing field for whoever wants to aspire in our party. Even as we speak now, we find a whole lot of people in various constituencies already aspiring in the party. If they had no hope of getting the ticket on a level playing ground, there would be no need for them to aspire. I think it is the song of some people who at one time or the other benefitted from the system in the party. I also want you to know that he was referring to consensus which is acceptable by the constitution of the party. It is either we have an open primary or we agree to a consensus as a process of the emergence of our candidates. Jandor is too green to be able to say anything authoritatively about the workings in APC.

Oladejo

their approach to the business of journalism. Some media outfit are literally turned to the mouthpiece of the opposition in the state. This is not acceptable. People should really look at themselves. He who comes to equity must come with clean hands. I think some people should just learn to respect themselves. Looking at the way Jandor as Jide Adediran is fondly called moved to PDP with his massive Lagos4Lagos structures across Lagos State; don’t you think his defection is a serious threat to APC? Some politicians are funny people. You assume a whole lot of strength sitting in your comfort zone, home and constituency, and you see a crowd that are largely paid and you assume that to be popular support. Whatever he called a crowd is untested. He has never won any election. Jandol came from nowhere. Just a few years ago, he was a struggling journalist with LTV. Questions should be asked how he suddenly got money he is busy throwing around, saying he wants to contest for governorship. People should learn that there are rules and processes to some things. He is not willing to learn the rope and one can see how he has been making a lot of errors even in his movement to PDP,

putting the cart before the horse. He first declared his intention and later on, he started moving around to meet PDP leaders in the states. A well-grounded politician would have done it the other way round; meeting the leaders first before declaring his intention. But nobody should be surprised, he literally declared PDP dead and he was going there to resurrect the party. I want to congratulate those leaders in PDP that they now have a new leader in Jandor, who is going to give life to their party. One can also see that key leaders of PDP in the state, the Ade Dosunmu, Jimi Agbaje, Babatunde Gbadamosi and the rest of them were not at that event and that speaks volume about the kind of person we are talking about. It is all about picking the governorship ticket of PDP. Mark my words, I believe prophets are still giving prophecies for the year; he (Adediran) won’t pick that ticket and he will still move to another party. In the next few months, you won’t hear anything about Lagos4Lagos Movement again. Some people are of the view that his exit from APC is justiﬁable in respect to claims of lack of internal democracy and level playing ground in APC. What is your take on this? The young man is largely very confused. He is not in the best position to assess what goes on in our party. His membership of the party couldn’t have been more than one year plus when he has been largely rabble rousing without even taking his time to study the constitution and structure of the party. Since

People who would have been largely obscure and just do their things wherever they belong being thrown into political visibility through him they have been able to use him to gain political limelight. But be that as it may, I think appropriately, our party will handle it and it might not just be the Vice President alone, there might also be other people who want to aspire. Tinubu is a democrat, the more the merrier and I am sure with the various people that are also supporting him, there is no reason for us to worry over anyone’s aspiration, especially somebody who has not openly declared

Apart from Jandor and his followers who have dumped APC for PDP, there are other aggrieved people within APC. What is the party doing to reconcile them? It is natural for people to be aggrieved, even in a family and organisation, there are going to be groups and caucuses. It is not impossible for people to be aggrieved because in a political party, you won’t find members that are not ambitious. If you are not, that means you are in a wrong vocation. So, definitely there would be conflicts and disagreement as a result of these ambitions but as a party, we have the internal mechanisms to address the various conflicts when they come up. It also behooves on the members, by the time you agree to be members of a political party, you are really letting go some of your rights, submitting yourselves to the constitution, rules and guidelines of the party. As we speak now, we don’t have the opportunity for independent candidacy in an election and that means as a member of the party you must submit yourself to those rules and regulations and respectfully agree to what the mechanism has put in place to resolve conflicts instead of resorting to litigation, which is not good for the party. By and large, despite the bad behavior on the part of some of our members, our doors are still remain largely open and it has happened several times, whenever they see the light again or they purge themselves of their grand standing and sheer arrogance, we always welcome them back. In next few weeks, APC will have its primaries, there are lots of people aspiring to run for offices at state and national level. While some are planning to seek re-election for a second, third or fourth and even fifth term, some are just contesting for the first time. How do you intend to manage the ambitions of people to prevent implosion in APC? The implosion in APC is the prayer point of PDP and opposition parties. Let me assure you, in Lagos State, we always have acrimonious primaries for a good reason. This is a winning party; there is no basis for PDP to have acrimonious primaries because they won’t win anything. They will struggle to pick candidates for the various offices because it is certain they won’t win. So, there is nothing in it for them. The APC ticket in this state is like you pick the ticket and your victory is assured. And from time immemorial, despite acrimonious primaries that always come up, we always put our house together before the elections. We always find the meeting point to reach an understanding and the coming election will not be different. I am sure that is bad news for the opposition. APC National Leader, Asiwaju Bola Ahmed Tinubu few weeks ago visited President Muhammadu Buhari to inform him about his interest for presidency in 2023. Tinubu said he is still consulting on the matter… It is no longer his decision, it is our decision. It can as well be reported that Tinubu will contest. He won’t say no to the large majority of people clamouring for him to run for the presidency. It is not in his record to say no to the people. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ ˜ ͯͮ˜ ͰͮͰͰ

FEATURES

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

Olam's CSR as Beacon of Hope Chiamaka Ozulumba reports that Olam's corporate social investment initiatives are a beacon of hope, peace and unity

The new school structure built, equipped, and donated by Olam Rice Farm to the community

Executive Governor of Nasarawa State, Engr. Abdullahi Sule, during the commissioning of

The school structures before Olam took over

Some of the children in one of the classes in the newly built and commissioned school building

he private sector plays an active role in implementing key growth policies that are targeted at driving national and regional socio-economic agendas. It is therefore rare for a community to thrive consistently without strong input from both the state economy managers and the influential private business operators. This is what Olam, an agribusiness with extensive investments in the local agriculture value chain, demonstrated when it successfully dowsed, through an informed CSI initiative, the historical, age-old suspicion that existed between the Fulani and the Tiv tribes in the farming community of Jira (Zegeyo), Nasarawa State. Olam successfully brought the two tribes together and stimulated an atmosphere that led the historical warring tribes to commit to a peaceful co-existence for the first time in a long while, when it united children from the tribes in a new model primary school it donated to the community in November 2021. The new model primary school was donated to the Local Education Authority (LEA) in Jira and commissioned by the state governor, Engr. Abdullahi Sule, in fulfillment of Olam Rice Farm’s corporate social responsibility, to facilitate the academic development of children in the host communities. In addition to the donation of the school block, an access road to the neighbouring village was rehabilitated to drive smoother movement of people and goods into the community. As befitting a new era of peaceful coexistence, resumption for the new academic session at the primary school was marked with a large turnout of pupils. The company delegation was on hand at the school premises to meet with the pupils' parents, the school management, and the community leaders who had come to witness the epoch-making event. The pupils were full of excitement. The

parents were elated. Both the Fulani and Tiv tribal leaders expressed gratitude to the management of Olam Rice Farm for sowing the seed of unity among them and heralding the path to a brighter future for their children through the academic intervention projects. Members of both tribes were unanimous in expressing their desire to co-exist peacefully as well as take ownership of the facility to ensure the safety of the pupils and the school. Items including school uniforms, attendance registers, sanitary and writing materials, and office furniture for teachers were provided by Olam. The business recruited two teachers, and a headteacher for the school, who were introduced to the leaders of the community and the influential dwellers in the community who thronged out en masse to witness the commissioning of the CSR project. As part of its social campaign, Olam is also advocating the abolition of child labour by encouraging parents and guardians in the community to enroll their children

and wards in the school. At the event, a letter of appreciation was presented to the Olam Rice team from the palace of the Okpatta, the top traditional chief of the village. The letter eulogised the agribusiness’ deep interest in the wellbeing of its host community. The traditional ruler highlighted the impact the agribusiness’ intervention project will have on the living standards and communal relations among the Fulani and Tiv tribes within the settlement for generations. Meanwhile, the latest information emerging from the community showed that the school continues to attract an increasing number of new pupil registration. The classrooms in the school are said to be filled up already with at least 50 pupils in each. A delegation of the Fulani tribe, led by its paramount leader, paid a visit to the management of Olam in Rukumbi, to further demonstrate their gratitude to the agribusiness for the impact the new model elementary school has made barely a month into the inception of

"The private sector plays an active role in implementing key growth policies that are targeted at driving national and regional socio-economic agendas...As part of its social campaign, Olam is also advocating the abolition of child labour by encouraging parents and guardians in the community to enroll their children and wards in the school"

academic activities in the school. Responding to the tribe’s representatives, Abubakar Ogashuwa, the Community Relations Manager, Olam Rice Farm & Mill, Rukubi, Doma, Nasarawa State, said, “At Olam, we empower our host communities by investing in impactful social projects that provide ingenious solutions to daily challenges. "The new model school in Jira is carved out of this development thinking as part of the strategic focus of reimagining both the agricultural value and human wellbeing. "We are glad and proud at the same time to see the level of change our corporate social responsibility projects are bringing into our host communities.” Mukul Mathur, Olam’s Country Head in Nigeria, explained, “We share a sense of purpose that motivates our actions. In the past 30 years, Olam has been investing in developing a robust agriculture export value chain and human capital, and engendering growth across the farming communities in Nigeria." Anil Nair, Head of Olam’s Rice business in Nigeria added, "Today, the success of our rice model has kick-started domestic production, unlocking the opportunity for businesses and smallholder farmers alike, and reducing Nigeria’s need to import 1.9 million tonnes of rice each year. We are proud of the impact we are already making in the country as we gear up to do more.” Olam has navigated the recent spate of tribal crisis to unify these tribes. Hence, by successfully uniting the communities that have a history of conflicts, the business firmly entrenched its socioeconomic enabling capacities. It also further strengthens the business’ brand persona as an investor in people and community. As a sign of its commitment to the country’s agriculture sector, Olam Rice is investing in doubling its milling capacity. The additional milling capacity is expected to be fully installed and online by July 2022.

T H I S D AY ˾ ˜ ͯͮ˜ ͰͮͰͰ

#THISISNIGERIA STARTERS: THE PRESIDENT NIGERIA NEEDS

-Seun-Onigbinde

Google

023 is upon us with the elections happening early next year. It feels like another year's sporting event with suspense, breathtaking moments and power plays. However, this is not your regular entertainment. This is real life. This is about how the weak and vulnerable need a competent government that secures them. This is about economic growth and policy choices that expand opportunities for young people. I am very wary of being over excited about elections in Nigeria. Politicians will offer themselves as miserable and lowly persons, promising high heavens. Only for them to bask in public office like a pre-revolution monarch, denouncing any element of accountability. The last time I tried in 2015, it ended with huge lamentations and a failure of expectations. Let me even judge by the micro-analysis of the manifesto called Security, Economy and Anti-corruption. Would anyone say that we are more secure with the anguish from Anka to Dansadau? How about escalating food prices and weak economic indices? Is anti-corruption no longer a waning rhetoric without energy? Nigeria has not been well served in the last few years but a nation must not be in short supply of hope — a belief that we are primed for better days even if all looks gloomy. Let me bathe in faith on five things that would matter in our choices for the next President. 1) Energy: Please look at the scale of the crisis in the country and the challenges that abound, do we really need another person running from Riyadh to London seeking

medical attention? I know we would likely get a President older than the nation’s life expectancy age but at least let’s get one that has full strength for the role. I know how being President can seem like an infallible prophetic utterance for some people but really there’s a country that is in dire straits and needs urgency. In the last three Presidential cycles of the country, the health of the President has been a major factor twice. We have flirted with hearsays of cabals and a small clan taking over the vacuum. Nigeria can't afford the costs and the uncertainty that it creates for a country begging for answers. 2) Political Acumen: You can accept or not, a President must be a top politician. There are plenty of interests ranging from regional, tribal to traditional ones that will either hinder or advance the agenda. Being able to balance such interests and still advance your development agenda is ever important to a leader’s legacy. How would a President relate to the National Assembly? How would he/ she engage the Governors? How does he/she court respect despite being a public servant in the eyes of the public? There’s a lot of wisdom required for the position than we acknowledge with the cacophony that democracy offers us. A top-notch politician with a wide network, incredible courage and infectious charisma is very important to the office. 3) Federalist in Thinking: I assume expensively that a candidate prospecting for public office would have a high degree

of patriotism and ability to see us all as Nigerians with equal opportunity to thrive. However, this is not enough. The idea of Nigeria as an entity without investing and supporting its subnational entities to grow is unsustainable. This also means that we can’t make our diversity and differing worldviews a cool talking point, we need to understand it. We need a President that advances federalism, the center will sink with reforms on the horizon. However, it’s a journey for me. We can’t have it all at once. However, if it means that we review the exclusive list, fund state policing with constitutional provisions to check abuse or give more autonomy to states for taxation, those would be giant steps ahead. A long-term view of Nigeria is not in its central government — it’s barely surviving on debt and CBN handouts — it’s taking power to the regions/states and getting the creative geniuses to appear. Is the candidate willing to shrink the gargantuan powers of the President? This is why I would pay more attention to who's the next Governor than the President. You should too. 4) Media Accountability: Nigerian leaders care about the media to varying degrees, and I am just tired of a government run by spokesmen. The presidential dialogue that didn’t transcend Jonathan was a beautiful way to listen directly to the President. I am saying the President should speak in his or her voice daily like the US President mounted the box or the UK Prime Minister is 'eyeballed' in the Parliament. I don’t think a 'media-shy' President that acts

in silence, feigns ignorance and throws his/her 'spox' at us is right for our state of democracy. I usually feel its arrogance mixed with gross disrespect. We need someone who’s willing to engage Nigerians from a position of personal accountability. There is so much royalty — in language, design and in action — wrapped around Nigeria’s President that I seriously detest. 5) The Company They Keep: You would possibly understand the trajectory of a candidate by paying attention to his/her close associates. What are their motivations? What do they seek? They miss the public treasury so much? Is this a sort of revenge to capitulate the institutions? We are learning that from Shagari to Buhari (isn’t life full circle), a leader can choose to sell himself as above board, but we are better off if we fully learn more about those promoting them with fervor or those silently in their corners who have held their trust over the years. There are still issues around competence, worldviews, character, patriotism and the ideas of the candidate but I have left you with some starters as you x-ray the candidates from Tinubu, Saraki, Osinbajo, Obi, Fayemi, Tambuwal, Khadijah OkunnuLamidi to Moghalu. Possibly, you need to get a sheet and award points on the basis of this before you move to other advanced metrics. I am not sure we will fully get it right, but it is our choice to make it better. We have to score better so that we can truly manage our expectations. t0MVTFVO 0OJHCJOEF JT UIF DP GPVOEFS PG #VEH*5 BOE BMTP BVUIPS PG i5IF &YJTUFOUJBM 2VFTUJPOTw

THURSDAY FEBEUARY 10, 2022 •T H I S D AY

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

BUSINESSWORLD R A T E S MONEY MARKET

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ALTON Backs FG’s Move to Grant Security Operatives Access to Subscribers’ Data

Emma Okonji Following wide condemnation by Nigerians from all walks of life, on the approval given by the federal government, which allows security agents to have access to subscribers’ data for the purpose of carrying out investigation on any Nigerian, the Association of Licensed Telecoms Operators of Nigeria (ALTON) has said the approval is in order. Chairman of ALTON, Gbenga Adebayo, who cited security reasons for ALTON’s support, told THISDAY that the security of individual citizens remained paramount, insisting that the federal government has the prerogative to take security decisions

that are in the best interest of the country. Shortly after the establishment of the policy on National Identification Number and Subscriber Identification Module (NIN-SIM), six months ago, by the federal government, which allows NIN-SIM integration and the creation of a single database for all telecoms subscribers by the National Identity Management Commission (NIMC), President Buhari gave approval to security agents to have unhindered access to subscribers’ data when carrying out criminal investigation on any Nigerian or any registered citizen in Nigeria. Nigerians had since then, kicked

against the approval, saying it amounts to breach of personal privacy, if security agents could have access to subscribers’ data stored in NIMC’s database, without their consent. The agitation however continued, when the Socio-Economic Rights and Accountability Project (SERAP), this week, wrote to President Muhammadu Buhari, urging him to review and rescind his reported approval for security agencies to access peoples’ personal details via NIN-SIM database without due process of law. According to the letter, SERAP also urged Buhari to send executive bills to the National Assembly to repeal and reform all laws that are

inconsistent and incompatible with Nigerians’ rights to privacy, dignity and liberty. The organisation’s position followed reports that some security agencies had received presidential approval to access personal details of Nigerians via the database of NIMC in the course of carrying out their duties. In the letter dated February 5, 2022, and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation warned that if the president’s reported approval was not rescinded, millions of law-abiding Nigerians may feel that their private lives are the subject of constant surveillance.

Reacting to the letter, Adebayo said: “President Muhammadu Buhari is the Chief Security Officer of the country, and he has the prerogative to take decisions that boarder on national security and the security of individuals. So his decision to grant approval for security operatives to have access to subscribers’ data for the purpose of doing their job is in order and cannot be faulted. No body is in the position to question the authority of the president, when it comes to decisions on national security. The licenses issued to operators in the country are government licences and the operators take directives from government, who owns and issued those licences.”

“There are processes and procedures to get access to the data information and the security agents know how to go about the process to get whatever information they want to get, based on the laid down procedures in getting such information, “Adebayo further said. Speaking on the issue of data privacy of individuals, Adebayo said the privacy of individuals cannot be compromised by security agents or any government agencies. According to him, subscribers already had obligations with service providers from the very day the subscriber purchases a SIM card Continued on page 26

Gov Explains Jigawa’s Low Debt Stock as State Gets N13.5bn SFTAS Grant Ndubuisi Francis in Abuja The Jigawa State Governor, Alhaji Mohammed Badaru, has attributed his state’s low debt stock to fiscal discipline, transparency and accountability in the application of resources. Jigawa is adjudged the leastindebted state in the country

according to statistics from the Debt Management Office (DMO). Badaru, who spoke during a media tour of the federal government’s World Bankassisted States Fiscal Transparency, Accountability, and Sustainability (SFTAS) programme, applauded the President Muhammadu Buhari administration for the initiative.

The governor stated that SFTAS had further helped to support his state in enthroning a fiscallytransparent, accountable and sustainable governance structure, adding that the state According to Badaru, who alongside his deputy, Mallam Umar Namadi and Commissioner for Finance, Hon. Ibrahim Babangida

Umar are chartered accountants, fiscal prudence has become the hallmark of his administration such that Jigawa State currently has the lowest debt stock in the country. The governor noted that his administration decided to de-emphasise borrowing while plugging leakages and boosting internally-generated revenue, adding

that borrowing is sustainable with a solid tax revenue base which his government is pursuing vigorously. Badaru, whose government inherited a liability of N50 billion contracts awarded by the previous administration, but not executed, disclosed that the contracts were renegotiated and the contractors mobilised to site.

He added that all the contracts had been fully executed with the contractors paid. The governor noted that the state does not just award contracts, but ensures that contractors are paid on completion of their contracts, public service workers paid on the 25th Continued on page 26

ATA AASS AT AT WWEEDDNNEESSDDAY, AY, FAEUBGRUUSATR Y1 19, , 22002212 MMAARRKKEETT DDATA ONNDDSS FFGGNN BBO DESCRIPTION 11.668 FGNSB 12.75 27-APR15-AUG-2021 2023 10.301 FGNSB 14.20 14-MAR16-AUG-2021 2024 11.150 FGNSB 13.53 23-MAR11-SEP-2021 2025 12.364 FGNSB 12.50 22-JAN12-SEP-2021 2026 12.175 FGNSB 16.2884 1710-OCT-2021 MAR-2027

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100.80 103.94

0.00 3.12 0.24 11.24

30-Sep-21 4.00 3.25 NTB 12-May-22

3.08 0.00 11.64

NTB 9-Jun-22 14-Oct-21

Price

101.47 117.51

Yield

MATURITY

Change(%) (%) Discount Yield Change

26-Aug-21 NTB 10-Feb-22

3.00 4.00

3.00 0.00 0.00 4.00

3.35 3.67

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

AUG23 252022 2021 427.24 420.93 NGUS FEB

SEP 29 422.38 NGUS MAR 302021 2022 428.93

OCT 27 2022 2021 430.63 423.83 NGUS APR

3.26 0.00 0.00 4.04

NOV 25 24 2022 2021 432.32 425.28 NGUS MAY

3.37 0.00 0.00 3.72

DEC29 292022 2021 434.02 426.73 NGUS JUN

CCPs Ps MATURITY

Discount Discount Yield Yield Change Change(%) (%)

XXXI MREP CP XXXVI 13-AUG-21 11-FEB-22 III 27UNCP CP VI AUG-21 2-MAY-22 VAAG CP I 2427NEVE AUG-21 MAY-22 TTNG CP II 2531DANC AUG-21 MAY-22 .SIBP CP I 2-SEP21

9.02 7.77

9.03 7.79

0.00 0.01

4.26 9.64

4.27 9.87

0.00 0.00

10.20 16.96

10.25 17.88 0.00 0.00

4.59 9.54

4.60 9.82

0.00 0.00

. 4.13

. 4.14

. 0.00

THURSDAY, FEBRUARY 10, 2022 • T H I S D AY

BUSINESSWORLD

NEWS SUPPORT FOR MECHANICS AND TECHNICIANS…

L-R: Former Chairman, Motor Mechanics and Technicians Association of Nigeria (MOMTAN), Lagos State Chapter, Alhaji Maruf Arowolo; CEO Automedics, Engr. Kunle Osinaike; Class Governor, Mech Tech 3.0, Mr. Olanrewaju Muftau; and Head of Channels, Ardova Plc (AP Group), Mrs.Habiba Abubakar, at the graduation ceremony of MechTech 3.0 in Lagos… recently PHOTO: ETOP UKUTT

With National Policy on 5G, Absa Sees Opportunity for Economic Growth in Nigeria Emma Okonji Given the success recorded last December in the auction of the two slots in the 3.5GHz spectrum, in preparation for 5G technology rollout in Nigeria, coupled with the commitment of the federal government on 5G rollout this month, Absa, a leading pan-African Corporate and Investment Bank has said it is fully aligned with government’s aspiration of economic growth and development opportunity associated with the 5G rollout. According to the financial services institution, “There are impressive and transformative economic growth opportunities inherent in the adoption of 5G technology as stated in the National Policy on 5G Networks for Nigeria, which was approved by the federal government on September 8, 2021. “Following this approval, the federal government officially launched the policy as the driver of its digital economy agenda in Abuja on January 25, 2022. The government sees the adoption of 5G networks as an opening to create jobs in the economy, improve operational transparency, drive sectoral productivity and expand the fight against insecurity.” After series of trials and exhaustive stakeholders’ engagements eliminating the perceived health risks associated with the 5G technology, President Muhammad Buhari, officially leading proceedings at the launch event, assured investors that as the rollout of the advanced network technology begins in earnest, the federal government would provide an enabling environment that supports robust investment in digital infrastructure. Based on the development, Absa expressed excitement and faith in the launch of the national policy on 5G networks. The Chief Executive Officer, Absa

Group Business Editor Eromosele Abiodun Comms/e-Business Editor Emma Okonji Aviation Editor Chinedu Eze Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafo (Energy) Emmanuel Addeh (Energy) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

Nigeria, Sadiq Abu, said the policy would fast track the growth of the country’s digital economy. “The race to keep pace with the rest of the globe demands urgent policy actions. Therefore, the launch of the national policy on 5G networks is laudable as it provides a fitting platform to drive the rollout of the 5G network on a national scale. Of course, this policy effort will make a difference on how sectors such as education, retail, health, manufacturing, and banking sectors are run with great implications on

productivity, job creation, and revenue levels across sectors, ”he said. According to him, “Absa as a growth partner will leverage its global experience and robust investment network in the sector and beyond to support investors in maximising market opportunities with the potential to drive growth in the economy. “Technology is a key driver of innovation. Innovation heralds changes that foster improved standard of living on a larger scale. The introduction of the 5G technology is

poised to change sectoral operations, create new jobs in the digital space while impacting operations across every line of human endeavours. “The 5G technology is an advanced upgrade of previously existing wireless interconnectivity infrastructure such as the 2G, 3G and 4G. It is generally tagged as the fifth generation of wireless technology. The technology offers a high-speed, low-latency virtual reality world, as well as ultra-high-speed streaming, which will largely impact society in terms of how people commute,

communicate, shop, bank, and produce the goods they consume, “Abu further said. A recent report by PwC forecasted that the advanced tech infrastructure will likely contribute $13.2 trillion worth of goods and services to the global economy by 2035. According to the report, the tech infrastructure has the potential to create or transform up to 16 million jobs across all sectors of the economy, which includes full-time, part-time, and temporary jobs. It will also lead to the creation of industries not yet

imagined, leading to the emergence of extensive opportunities for the local population. Going by the disclosure made at the last Global Mobile Broadband Forum (MBBF) held in Dubai last year, over 500 million subscribers presently have access to commercial 5G networks in 176 countries. South Korea, Saudi Arabia, Kuwait, Hong Kong, the United States and Thailand top the list of countries where the new tech infrastructure has the widest coverage, according to Statista, a global data analytic body.

UK, Nigerian Governments Strategise to Tackle Terrorism, Regional Insecurity Emma Okonji The UK and Nigeria recently held their first UK-Nigeria Security and Defence Partnership dialogue in London, where both countries mapped out strategies to tackle terrorism and develop regional security. New commitments on security made at the first ever UK-Nigeria Security and Defence Partnership dialogue, is expected to boost work to tackle shared threats and keep both British and Nigerian people safe. It includes commitments to work together to improve civilian policing standards, protect human rights and recognise the important role

of women in achieving sustainable peace. Further UK support to Nigeria in tackling Islamic State West Africa (ISWA) and Boko Haram will also build a collective network to respond to conflict with extremist groups in the North-east of Nigeria. The UK Minister for Africa, Vicky Ford said: “Conflict and insecurity are leading to the loss of life and increasing displacement of millions of people across West Africa. It affects the freedom of civilians and blocks economic growth, further undermining peace and prosperity. Through these new agreements, the UK is deepening our partnership with Nigeria to tackle shared threats, bolster regional stabilisation efforts

and support Nigeria’s peace-keeping capabilities. “This will help Nigeria to tackle violent extremist organisations and organised criminal groups, empowering them to respond to growing regional security challenges. It is only when people are safe and communities stable, that nations can truly thrive.” The dialogue between both countries, the first following the agreement of on the security and defence partnership in 2018, has led to refreshed plans to deepen UK engagement with the Nigerian security authorities. Nigerian National Security Adviser, Major General Babagana Monguno (Rtd.), said: “Nigeria and

the United Kingdom share deep linkages and a common history dating back to over a century. Like many other countries faced with complex and evolving security threats, Nigeria realises the need to forge greater alliances and partnerships with friendly nations, in order to combat these threats. It is particularly imperative that we work together to combat the threats of modern day terrorism. “The discussions and agreements reached, present an opportunity for officials at the highest levels of both our governments to work together to address threats from terrorism, inter communal conflicts, serious organised crime, piracy, banditry, border security and trafficking in

drugs and persons, amongst others. These agreements will deepen and enhance our security and defence collaboration in order to create a safe and secure environment for all our citizens to thrive.” Both countries also discussed a review of regulations to strengthen the role of women in crime prevention and equal treatment of men and women of the police force. Alongside work to strengthen Nigeria’s security and respond to growing regional insecurity, both countries agreed to deepen direct engagement on human rights, through sharing UK expertise with the Nigerian military on International Humanitarian Law and preventing sexual exploitation and abuse.

MainOne Drives Business Digital Transition in W/Africa with Global Cloud Services Emma Okonji MainOne, provider of connectivity solutions for businesses in West Africa, has said that it is empowering enterprises to adopt cloud technology by connecting businesses across the region directly and privately to public cloud service providers. The company in a statement said its Cloud Connect service ensures direct, secure, and reliable network connectivity between enterprise data centers or

office locations and public cloud providers such as Microsoft, and Amazon Web Services. “MainOne also has a partnership with Equinix-Telecity that grants the company direct access to other global providers such as Oracle and IBM, thereby giving customers access to the services they need. With MainOne Cloud Connect, enterprises can collaborate seamlessly while adopting remote work (Work from Home) policies. Collaborating across

phones, emails and applications has been made easier through cloud-hosted team collaboration applications with MainOne Cloud Connect, providing the additional security and compliancy benefits for industries in the Financial, Oil and Gas and Manufacturing sectors. MainOne Cloud Connect solution is backed by MainOne’s private submarine cable and supports direct connections to Cloud services at speeds from 10 Mbps to 100 Gbps, “the company said.

Head, Technical Solutions and Managed Services at MainOne, Oluwasayo Oshadami, in the statement said: “Our Cloud Connect service enables businesses in Nigeria, Ghana, and Cote d’Ivoire adapt to the rapid growth of cloud solutions with always-on, secure access to their cloud enabled applications. Our investments in a world-class connectivity infrastructure coupled with technology from our global partners is strategically positioned to support the digital

transformation efforts of our customers.” One of the company’s customers said: “MainOne Cloud Connect service allowed our team have direct access to Microsoft Azure services, which means we don’t have to leverage on the shared internet of the bank which was resulting in high bandwidth usage, unpredictable latency and impact on other services. The latency of the service is guaranteed, and the service performance is predictable.”

GOV EXPLAINS JIGAWA’S LOW DEBT STOCK AS STATE GETS N13.5BN SFTAS GRANT of every month while pensioners are paid in the first ten days of the month. Further applauding the SFTAS programme for supporting Jigawa State to instil fiscal transparency, accountability and sustainability in the management of state resources, Badaru said its application helps to give a timely position of available

funds. The governor noted that the state is implementing all the nine Disbursement Linked Indicators (DLIs), which are derived from the country’s 22-Point Fiscal Sustainability Plan (FSP) Earlier in his remarks, the National Programme Coordinator, SFTAS, Federal Ministry of Finance Budget

and National Planning, Mr. Stephen Okon, said Jigawa is one of the three top states in the implementation of the SFTAS programme. Okon, who was represented by the Deputy National Coordinator, SFTAS, Mr. Ali Mohammed, noted that prior to SFTAS’ emergence, the Badaru administration had initiated a number of programmes that

enshrined fiscal discipline. He added that due to its consistent progress, Jigawa State benefited from the first and second $750 million performance-based grants from the federal government to states, which achieved the Annual Eligibility Criteria and the Disbursement Linked Indicators (DLIs). Also welcoming the team to his

office, the Commissioner for Finance, Hon. Ibrahim Umar said Jigawa State had performed creditably well in the SFTAS programme and benefited from the grants to the sum of N13.5 billion so far in the 2018 and 2019 assessments, adding that the state expects to surpass previous assessments in the forthcoming exercise.

ALTON BACKS FG’S MOVE TO GRANT SECURITY OPERATIVES ACCESS TO SUBSCRIBERS’ DATA from the service provider, because the subscriber had already signed to the terms and conditions of service offerings from the point of purchase of the SIM card. Adebayo further explained

that the terms and conditions of service, protect the subscriber and that no subscriber would be intimidated or arrested when there are no criminal cases linked to the subscriber.

Responding to issues of why crime rates in the country are on the increase, despite the presence of security operatives who seek to use people’s data to track suspected criminals who use

mobile phones to commit crime like kidnapping, Adebayo said the security operatives had told them that criminals use the mobile phones of their victims to make calls when demanding for ransom,

which he said, had always made it difficult to track such criminals. He however said the security operatives were doing so much to reduce crime rates in the country, unknown to many Nigerians.

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

BUSINESSWORLD

DEVELOPMENT

Impact of Corruption Index Report Ugo Aliogo examines the impact of the Corruption Index Report on President Muhammadu Buhari’s anti-corruption fight

ecently, Transparency International (TI) Released the 2021 Corruption Perceptions Index (CPI). The CPI indicates that there is much work to be done by the administration of President Muhammadu Buhari to ensure that the lives of citizens are improved. The report, which was released in Nigeria by the Civil Society Legislative Advocacy Centre (CISLAC), revealed that Nigeria scored 24 out of 100 points in the 2021 CPI, falling back one point compared to the 2020 CPI. In the country comparison for this year, Nigeria ranks 154 out of 180 countries-five places down compared to the 2020 CPI results. The CPI result comes at a point when Nigeria is battling with rising nation-wide insecurity, high unemployment rate and damning revelations around public finance management by the Auditor-General and investigative journalists, and others. This is however not an assessment of Nigeria’s anti-graft agencies that are making commendable efforts in reducing corruption in Nigeria despite the political interference they face. Rather, the CPI goes beyond the anti-graft agencies. In October last year, CISLAC/TI received the report of the committee set up by the government in March 2021 to review Nigeria’s rating on the 2020 CPI shortly after CISLAC/TI- Nigeria released the 2020 CPI. CISLAC/ TI-Nigeria sees this move as a good step and would like to urge government to further examine the weaknesses listed below and consider actions which will tackle systemic corruption and salvage Nigeria’s deteriorating image when it comes to corruption. Accordingly, CISLAC/TI-Nigeria have listed key weaknesses to explain why Nigeria may not have improved in the fight against corruption. We feel that these areas require immediate improvement for the sake of the well-being of ordinary Nigerians and the economy.

NEGATIVE AUDIT REPORT

The report noted that the non-compliance/internal control weaknesses issues in Ministries, Departments and Agencies (MDAs) report for 2019 published by the Office of the Auditor General of the Federation in November 2021, have left Nigerians in awe. It remarked that the level of financial recklessness, abuse of budgetary processes, and failure of Ministries, Departments and Agencies (MDAs) in following the due process of appropriation is disturbing. For example, The Auditor-General revealed that the sum of N49bn was spent by nine MDAs without appropriation by the National Assembly. This is in gross violation of section 80 (4) of the 1999 Constitution as amended). The report argued that the recent revelations made on the January, 17 by BudgIT on the duplication of projects in the 2022 budget do less to palliate the pandemic corruption currently experienced despite a rising unemployment rate of 33 percent.

SYSTEMIC CORRUPTION

The report further explained that the systemic corruption in the Nigeria Police Force has sadly continued unabated and with the police at the frontline of Nigeria’s criminal justice system with enormous powers to investigate and prosecute crimes, adding that the weakness puts the country in bad light.

The report argued that the Police Force was indicted by the Auditor General’s report on the “Non- Compliance/Internal Control Weaknesses Issues in Ministries, Departments and Agencies (MDAs) published in November 2021” and Nigerians are still struggling to understand how 178,459 arms and ammunition were missing from the armoury of the Nigeria Police without trace, “of this figure, 88, 078 were AK 47 assault rifles and 3,907 assorted rifles and pistols.” The report said: “For context, these arms are enough to arm a force equivalent to about 25% of the current strength of the Nigeria Police at 370,000 which gives an explanation on the level of insecurity in the country. “Findings from The Cable Index and the Council of Foreign Relations show that 5,067 Nigerians were killed owing to insecurity in 2021, and an average of 14 Nigerians were killed daily. According to these findings, this shows a 52.3 per cent rise in reported killings when compared to 2020. “In addition to the above, the Auditor-General’s report showed that over 17,000 police officers had future dates of employment with hundreds employed before their date of birth.” The CDD ED argued that over the years, the Nigeria Police Force (NPF) has been ranked the most corrupt institution in Nigeria by the Transparency International Corruption Index (CPI) and has been a result of the accusation on the policing system, pointing out that in addressing the challenge the youths stormed the streets in 2020 with the #EndSars campaign which they developed recommendations to address the persistent corruption in the police system. In her words, “However, to checkmate the systemic corruption in the Nigerian police, there is the need for the restructuring of the sector. This will include the introduction of technology into the daily activities of the policing system in Nigeria. For example, the use of body cameras should be introduced to officers out of official duty. Also, the internal affairs of the policy should be automated and oversight should be on the activities of the security unit and there should be access to files, documentation and databases of the police. But importantly is the remuneration and condition of services of the Police be improved while emphasizing zero tolerance to corruption and breach of the law.”

biggest ever corruption leaks led by the International Consortium of Investigative Journalists (ICIJ) and over 600 journalists from 117 countries, including Journalists from Nigeria’s Premium Times. A close look at the Pandora Papers published in 2021 reveals that Nigeria tops the African continent when looking at the number of those exposed. Following the pattern of two previous leaks (i.e., the Paradise Papers and Panama Papers, which were released in 2016 and 2017, respectively), the Pandora Papers exposes systems and secrecy jurisdictions that enable and abate crime, corruption, and illicit dealings by politicians, billionaires, influential individuals, and their enablers globally. “Since its release on October 3, 2021, Nigerians are yet to see any action or get answers from anti-graft agencies whose work has been made easier by the diligent reporters from Premium Times which highlighted stolen or suspiciously acquired assets to be investigated. With the elections fast approaching, and the response so far, politicalcorruption is expected to be on the rise and anti-graft agencies need to live up to the expectations of Nigerians.” Hassan said in 2021, the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other related offences Commission (ICPC), and the Code of Conduct Bureau (CCB) in total recovered approximately N900 billion in stolen assets over the last two decades. She further explained that the organisation has also secured the convictions of high-profile corruption cases and high-profile convictions of Politically Exposed Persons (PEPs) such as the conviction and sentence of the former Governor of Plateau State, Joshua Dariye to 14 years imprisonment for diverting public funds to the tune of N1.126billion, “however, the perspective of Nigeria’s is that the government anti-graft war is not inclusive as it is structured against opposition party members.” She added: “The anti-graft agencies are doing their best but need more support in funding, capacity and legal provisions. But important is illicit financial flows, what resources lost through IFF is more than that lost through Political corruption and that is beside the fact that even these PEP use IFF to funnel out their monies from Nigeria. We have to work harder at blocking the leakages.”

CORRUPTION CASES

PROTECTING WHISTLEBLOWERS

The report revealed that Nigeria’s anti-graft agencies have made commendable progress in their efforts to combat corruption in 2021 with an increase in convictions, but frowned that high profile convictions of Politically Exposed Persons (PEPs) across political, regional and any other form of divide has fallen short of public expectations. The report commended the arrest of cyber criminals and called on the anti-graft agencies to do more, noting that there is a need to investigate high profile political cases including those of individuals who have switched political affiliations. According to the report, “A case in point is the Pandora Papers revelations which is one of the

The report disclosed that regarding asset recovery, Nigerian anti-graft agencies have made progress in recoveries, specifically those that have been finally forfeited. It espoused that the repeated failure to enact the proceeds of crime act as a legal framework for the management and utilization of recovered assets in Nigeria, which is one of the key pillars of this administration’s anti-corruption strategy is inexplicable. The argument from the report is that while Nigerians read about these recoveries by the numerous agencies with mandates to recover assets, Nigerians are in the dark as

to the status of these recoveries, “yet, Nigeria is expected to incur a deficit of about N6 trillion on its 2022 budget.” The report added: “Quick wins like the establishment of a central data base for asset recovery accessible to all citizens is yet to materialize. While the government claims to have an asset recovery database, citizens and representatives from the media do not have access to this data base to confirm its content. This data is thus impossible to verify. “The continuous absence of a Whistle Blower Protection Legislation leaves Nigerian anti-corruption agencies deprived of key insider intelligence. Formerly known as the Audit Ordinance, the 1956 Audit Act which was enacted before Nigeria’s Independence limits the powers of the Auditor General’s office. Revelations from the Auditor General underscores that Nigeria urgently needs a new audit law more than ever. This law must have the best interest of Nigerians.” Hassan revealed that the country requires a coordinated legal framework on asset tracing, recovery, management and utilization. This can be achieved through the speedy passing of the Proceed of Crime Act (POCA) by the legislature. According to her, “The whistleblowing is a community-driven approach to combat corruption, but there is a need for clear policy proclamations and political will for whistleblowing and whistle-blower protection in Nigeria policy to be turned into an act. This is because policies have their limitations, and they are legitimate enough to combat the menace of corruption. This means there is a need for a strong commitment and political will to address corruption in the public sector. “Also, whistleblowing should be considered as a moral norm and lawful duty of Nigerian citizens. Maximum protection needs to be provided for whistle-blower from negative consequences from his/her actions by providing legal backing to safeguard citizens that are willing to expose corrupt acts. Given this, there is the need for the legislative and the executive to fast-track the outstanding with SLE blowing bill. “Finally, for a better anti-graft war corruption, there is a need for the country to develop a coordinated legal framework in fighting corruption and effectiveness of laws such as the Freedom of Information Act (FOIA), public procurement act and other related act.”

ANTI-CORRUPTION FIGHT

Reacting to the report, the Executive Director, Centre for Democracy and Development (CDD), Idayat Hassan, stated that one of the campaign promises of the President Muhammadu Buhari in 2015 was to combat corruption in all sectors of Nigeria, adding that the APC also made use of the CPI as data that President and his party leveraged to covers their anti-corruption campaign agenda. She remarked that since the emergence of the administration the country has yearly fallen in Transparency International Corruption perception index (CPI) following the TI tool for measuring the levels of corruption in the systems of various countries around the world. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THURSDAY, FEBRUARY 10, 2022 • T H I S D AY

BUSINESSWORLD

PERSPECTIVE

PIA: Reafﬁrming NNPC’s Investment Promotion Mandate

Oil worker Okoro Ukpe

he writer of the article “NNPC’s Grab and Grab Will Demarket the Nigerian Hydrocarbon Opportunity,” published in Africa Oil + Gas Report, was clearly out to misinform members of the public against the operations of the Nigerian National Petroleum Company Limited (NNPC). This hatchet job was focused on allegations about the NNPC exercising its rights of pre-emption in the ongoing divestment of ExxonMobil’s Joint Venture Assets located in the south-east shallow offshore in Nigeria. Unfortunately, if not that the writer was ignorant, he would have noted the sweeping reforms that the Petroleum Industry Act (PIA) introduced in the oil and gas sector, which even saw President Muhammadu Buhari, recently mandating the board of the NNPC Limited, to ensure that the firm focuses on profitability and operates at par with its industry peers across the world. Buhari said: ”The Nigerian National Petroleum Company Limited is mandated to focus on profitability and continuous value creation beyond the simple fulfilment of legal and regulatory requirements. “NNPC Limited is expected to operate at par with its industry peers across the world, while acting as Enabler Company that will foster the development of other sectors of our economy.” Indeed, with the PIA, the NNPC is now a commercial entity. President Buhari signed the PIA into law on August 16, 2021. Following the assent of the president, the NNPC Limited was incorporated by the Corporate

Affairs Commission (CAC) on September 22, 2021 after it received application for its registration from the federal government. The PIA also raised stakeholders’ expectations on the company, even as it has given it a wide room to stimulate investments in the oil and gas industry. The company’s preference is to source lenders that can provide the funding in a ratio based on the capacity of each of the lenders. Section 65 of the Act encourages NNPC Limited and its joint venture partners to explore the use of incorporated joint venture companies. The NNPC is also required to declare dividends to its shareholders and retain 20 per cent of profit as retained earnings to grow its business like any other incorporated entity incorporated under the Companies and Allied Matters Act, as provided under Section 53(7) of the Petroleum Industry Act. Also the NNPC Limited supervises the mechanism of funding the Joint Venture Operations through the cash-call process. Clearly, from the foregoing, as a commercial entity, the NNPC Limited in striving to ensure that its stakes in the Joint Venture Contracts are not weakened if further shares are issued, would exercise its right of pre-emption. And by doing that, it is simply protecting its investments in the JVCs. With this, there is no need crying wolf where there is none in the case of the ongoing divestment of ExxonMobil JV assets and the illusion of “to grab and grab,” that was created by the writer does not hold water.

More so, Group Managing Director of NNPC, Mallam Mele Kyari, said recently that the company’s operational leaning would henceforth be business-like, with a profit motive, since it is now a CAMA entity. He had said under the new arrangement, the company would raise between $3.5 billion and $5 billion in corporate finance to fund major upstream investments under its funding strategy for selected upstream investments. To achieve this objective, Kyari said NNPC planned to acquire pre-emptive rights in select Joint Venture (JV) operations in the industry as well as take over the ownership of some non-investing partnerships. The NNPC strategy, Kyari said, also included investing in strategic assets to address integrity, bottlenecking, and growth issues in the oil industry, such as “rigless” activities and oil drilling campaigns. He said the company preferred to find lenders who could provide this funding in a ratio based on each lender’s capacity to help finance part of NNPC’s key investments, including acquisition of equity interests in quality upstream oil and gas producing assets. According to him, this remains an integral part of NNPC’s corporate strategy to rebalance its oil and gas portfolio, by divesting from some toxic assets, to enable it acquire choice strategic assets that would help support its long-term strategic objectives. This saw the company recently securing a

$5 billion corporate finance commitment from the African Export-Import Bank (Afreximbank) to fund major investments in Nigeria’s upstream sector. The funding arrangement was the first major deal by the national oil company since the enactment of the Petroleum Industry Act (PIA) and the incorporation of NNPC as a limited liability company under the Companies and Allied Matters Act. Under the contract, Afreximbank agreed to enter into a finance advisory and fundraising role to raise $5 billion to, “acquire, invest and operate energy producing assets in Nigeria as part of NNPC’s growth strategy following its incorporation as a limited liability company.” Furthermore, the bank committed to underwrite $1 billion as part of forward sales based trade finance transaction. The finance commitment would enable NNPC fund some of its major investments in the country’s upstream oil and gas sector. So, there is no cause for alarm as the federal government has through the PIA, renewed its commitment to attracting investments in the oil and gas industry as the legislation provides the needed improvements in fiscal and governance frameworks, emphasises transparency and accountability as well as provides a level playing field for all players. The NNPC no longer has access to government funding, but now survives based on its internal resilience and efficiency. It is now a going concern and just like every other limited liability company, its level of productivity is what would determine if it would remain in business. • Ukpo wrote in from Abuja

How Globacom is Deepening Brand Promise with Competition Raheem Akingbolu writes on the importance of entertainment to brand building, pointing out how Globacom’s Battle of the Year Nigeria, a dance contest, is redefining the brand’s promise

f you ask the average cinema buff about American movie star, Channing Tatum’s filmography they will most likely tell you about his critically acclaimed and box office hits like White House Down, Magic Mike, 21 Jump Street, G.I. Joe: The Rise of Cobra, or The Hateful Eight. Many will leave out his star-making role in Step up even though the romantic dance movie directed by Anne Fletcher was the movie that introduced him to a wide audience long before Magic Mike made him a household name. Another contemporary actor who found fame and critical acclaim from starring in a dance movie would be Julia Stiles, the actress better known for her turns as Jason Bourne’s love interest in the Bourne series and for starring in Mona Lisa Smile and Dexter. Many forget that she had her breakout and award winning role in the 2001 MTV produced Save The Last Dance. Why are dance movies such good vehicles for achieving stardom? The answer could lie in the cocktail that it presents; dance, romance, drama and what millennials would call vibes. Usually populated with a cast of good looking characters with a fast paced story line that helps propel the dramatic elements of the plot, the movies are usually about love and aspiration with the main protagonist and antagonist often battling either for a girl or rhythmic ascendancy. Cue contemporary sounds and thumping beats and you have yourself a heady cocktail that young people are always drawn to. This is what Globacom, the telecommunications powerhouse is hoping to achieve with its sponsorship

of the reality TV show, Battle of the Year Nigeria, a dance contest featuring young Nigerians hoping to battle each other as they dance their way to mega millions while having fun and keeping out of trouble. The company has described the reality tv show as “a fast paced, action packed show where the best dance crews and individuals in the country go head to head and battle each other to see who will represent Nigeria in the international Battle of the Year competition.” While the “Battle of the Year” dance competition has been running for over 10 years on the global stage with Nigerian dancers and crews attending, this is the first time a reputable and proudly Nigerian company like Globacom is putting its weight behind the competition and bringing it to the mainstream. The company’s participation is in no way tokenistic because Globacom has consistently been recognized as a foremost promoter of entertainment in Nigeria based on its support for entertainment projects including Glo Naija Sings, Dance with Peter, Glo X-factor as well as flagship shows like Glo Laftafest, Glo Campus Storm and Glo Music Fiesta. In a press statement announcing the premiere, Globacom said it was sponsoring the competition to help young talented Nigerians unleash their potential. “The array of Nigerian talents we have seen has been nothing short of exceptional and we are excited to show the world the quality of

dance talents and entertainment Nigeria has. We are confident that with the unlimited talents on display, the viewing audience will be in for an exhilarating experience. We urge them to get the GloTV app on myglotv.com and watch the talents dance their way to mega millions.” While many would argue that dance is age agnostic the fact still remains that the young are better suited to rigorous dancing like break dancing, krumping or locking which feature in the competition. Imagine your Uncle Kunle doing a head spin or a flare? You get the picture. Launched on October 13, 2021 and with auditions concluded in Kaduna, Abuja, Enugu, Port Harcourt, Benin and Lagos, the Glo Battle of The Year Nigeria reality tv show premiered Saturday February 5, 2022 on GloTV, the company’s mobile streaming app and will run over 13 episodes. With Award-winning On-Air Personality (OAP) and actor, Do2tun as host, the Glo Battle of the Year Nigeria will chronicle the journey of young and able bodied Nigerians leveraging Globacom’s unlimited brand promise to unleash their potentials and achieve their dreams of wealth, stardom and global domination. The first 11 episodes including the premiere episode capture the thrills, drama, back stories, dance floor theatrics as well as the joy of qualification and pain of disqualification as the dancers battle through to the regional qualifiers. Episode 12 and 13 would be live episodes featuring the semi-final and final events in Lagos as the judges observe

and pick a winner in each battle category. The ultimate winner will go on to represent Nigeria at the international Battle of the Year competition in Japan. As the competition progresses, the participating dancers will receive support and mentorship from seasoned and award winning dancers like Poco Lee, Pinky Debbie, Izzy Odigie, Big Flo, Maxbuck, Dunamis, Franc Okwara, JC Jedor, Poxy (Cameroon), Gidnasty (USA), Menno (Netherlands), and Manuela (Germany) Whoever emerges winner of the Glo Battle of the Year Nigeria competition will be walking in the footsteps of legends. This may not seem immediately obvious but Nigeria has produced world beaters in the world of dancing. Google the names, Charles Hopst or Isaac Chinagorom and you will begin to understand the importance of Globacom putting its weight behind this competition and helping mint new stars of dance. Hopst (died in 2015) and Chinagorom gained fame and national prominence as winners of the defunct John Player Gold Leaf Dance Champion. Chinagorom represented Nigeria at the 1984 World Disco Competition in London before parlaying his new found fame into a successful music career. In a recent interview with The Nigerian Voice, Isaac Chinagorom spoke about the evolution of dance in Nigeria. According to him, “when I was dancing, there was no money. I danced all over Europe and America but I was broke…” With Globacom promising mega millions for the winners of the Glo Battle of the Year Nigeria this is one complaint they will not be making.

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

BUSINESSWORLD

E-BUSINESS

Exposing Nigerian Tech Startups to Global Competition The just concluded LEAP 2022 technology conference and exhibition in Riyadh, Saudi Arabia, was an opportunity for Nigerian government to re-strategise in wooing foreign investors to invest in the Nigerian ICT sector and to give global exposure to Nigerian Tech Start-ups with unique solutions, writes Emma Okonji

Winners of the Rocket Fuel Startup Competition in Riyadh, Saudi Arabia

ast week, the world gathered in Riyadh, Saudi Arabia for the maiden edition of LEAP 2022 technology conference and exhibition, which was organised by the Ministry of Communications and Technology of Saudi Arabia. Nigerian government, which has been at the forefront of technology development and digital transformation, also joined other countries of the world to attend the global event, and used the opportunity to further showcase Nigerian startups with innovative solutions and to woo foreign investors to come to Nigeria to take advantage of investment opportunities in the Nigeria Information and Communications Technology (ICT) sector and invest in the sector. Nigerian startups joined other global startups to participate in the Rocket Fuel Startup Pitch competition, where seven startups won a total of $1 million prize.

FG’S DELEGATION TO LEAP

The federal government delegates, led by the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, had the opportunity to discuss with foreign investors at different fora during the LEAP technology conference and exhibition. They used the opportunity to call on foreign investors to come to Nigeria and invest in the country’s Information and Communications Technology sector. Other delegates to LEAP 2022, include the Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar Danbatta; the Director-General, National Information Technology Development Agency (NITDA), Inuwa Kashifu Abdullai, among others. Pantami, while speaking to foreign investors, also advised Nigerians to believe in the sincerity and commitment of the federal government to develop the Nigerian ICT sector, and to have a positive mindset towards national development. According to Pantami, “Whoever comes to Saudi Arabia after about four visits would see the power of positive thinking and transformations that have taken place here, especially in the digital economy sector. Their institutions are no more obsolete. They have become proactive in everything.” He explained that the Nigeria delegation met with investors and potential investors after series of meetings on how they could come to Nigeria and invest in the Nigerian ICT sector. “There are signings already. Also, there are promises that they are coming to invest their manufacturing plants in the country. We were able to sell the advantages we have in the country to them, which include being the biggest economy in Africa, most populous in the region, and an economy that is doing well now, especially looking at the way the country exited recession leaving behind many developed countries,” Pantami said. He added: “These are some of the encouraging statistics that we have sold to investors. These are indices investors want to hear. Though, there could be some one or two observations and reservations about the country, we are taken those ones back and we will work on them. We will ensure that we make the Nigerian system more flexible and friendly so that we can have a win-win situation.” Pantami also said some countries have indicated interest to come and see how the Nigerian digital

economy is working. “Nigeria’s has become a model today in Africa. The first meeting I had, they were surprised that we have six unicorns from Nigeria, with others still coming. The fastest growing sector of the Nigerian economy today is the Digital Economy sub-sector. Mr. President has said severally that it is the sector that led many times to Nigeria exiting recession. These are some of the encouraging statistics we shared with them and we equally picked one or two things from them. We learnt that there were over 80 countries that attended the event. There were several tech giants too,” Pantami said. Present at the LEAP event, were global technology companies, some of whom have already set up their operations in Nigeria and other Africa countries. Global companies like IBM, Huawei, Nokia, Microsoft, Ericsson, Cisco, Mobily, Zoom, SAP among others, where present at LEAP 2022 to showcase their products and services. The Director, House of Mandela Family Foundation, Dr. Makaziwe Mandela, appealed to technology giants to make Africa a destination. He stressed that huge opportunities lie in South Africa, Kenya, Rwanda, Nigeria and other sub-Saharan countries. Mandela called for collaboration between African governments in order to bring global technology companies to Africa. According to her, the access and affordability gaps in the African region, provide opportunities for improved internet access, which she said, could be delivered by technology companies through collaborations with indigenous players. The LEAP Technology event, attracted several African countries, especially countries that are driving digital transformation through smart technologies.

PARTICIPATION AND INVESTMENTS

According to the organisers, the inaugural edition of LEAP22, set new records for a debut technology event, attracting over 100,000 registered attendees from more than 80 countries. Over 700 exhibitors including the world’s leading technology companies and over 1,500 of the most innovative start-ups, along with more than 500 international speakers joined LEAP22, which ended last week Thursday in Riyadh, Saudi Arabia, making it the largest ever first edition for a technology event. LEAP22 saw more than $6.4 billion of investments and new technology initiatives announced, with $1 million in prizes awarded to the winners of the Rocket Fuel Start-up Competition, an international contest to find the best new business ideas. LEAP22 also saw the announcement of multiple investments and funds for start-ups and entrepreneurs of over $266 million. Among the announcements was the completion of closing of the second round of Khwarizmi Ventures fund with a value of $69.8 million; investment into the Emkan VC

fund of over $49.8 million and the launch by Saudi Venture Investment Company of the Investment in Advanced Stage Funds, with a value of over $134 million, to promote the growth of start-ups. A new partnership to build start-ups between Unifonic and TheSpaceKSA, called UnifonicX, was also revealed. Start-up deals included Nana closing an investment round led by FIM Partners and the STV Fund, worth $50 million; and Quant closing an investment round worth $800,000 led by VentureSouq with participation by RaedVC and Seedra, which also announced an additional round of investment. Muzn Artificial Intelligence raised an investment round of $10.1 million, led by Raed Ventures with the participation of Shorooq Partners, VentureSouq, Sukna Ventures and others; while Taffi raised more than $1.8 million investment, and SIFI and Tamawal closed pre-seed rounds.

STARTUP COMPETITION

Startups from around the world, including those from Nigeria, went head-to-head in the Rocket Fuel Startup Competition, promoting their innovative business ideas to powerhouse venture capitalists and leading international investors, to win a share of the $1 million prize fund. Seven startups were victorious overall, taking home cash prizes for exciting and impactful new business ideas, scored on creativity, innovation, potential, functionality and impact on people and society. The winners were announced and showcased at the event. In order to boost global technology development, Apple selected Riyadh for its first Apple Developer Academy headquarters in the Middle East and North Africa region. The academy caters solely to female programmers and developers and is located at the Princess Nourah bint Abdulrahman University. The Apple Developer Academy will play a significant role in building coding talent in Saudi Arabia and encouraging women to develop their skills and explore careers in this exciting new sector. Female participants have already enrolled at Apple’s Developer Academy in Riyadh. Regional Executive Vice President, MEA at Informa, Michael Champion, said LEAP22 remained a breakthrough success, attracting the biggest audience for a technology event in recent years, surpassing other global technology events and setting a new record for most attendees to a new platform. “LEAP22 has been able to bring to Riyadh the leading names in technology with the most exciting new start-ups and creators, to present cutting-edge innovations that will reshape the world around us. We would like to thank our world-class speakers, sponsors and partners and look forward to hosting an even bigger LEAP next year,” Champion said. The debut edition of LEAP was sponsored by stc, Ericsson, Mobily, Huawei, Cisco, SAP, Microsoft, Saudi Digital Academy, National

Technology Development Program, Monsha’at and Jahez.

OPPORTUNITIES FOR STARTUPS

At the just concluded LEAP22 in Riyadh, Saudi Arabia, the country opened up several opportunities for African tech startups, including those from Nigeria. They are expected to benefit from the recently launched Startup Passport initiative by Digital Cooperation Organisation (DCO), a Saudi Arabian-based organisation. Startup Passport makes it quicker, easier and less expensive for startups to do business across borders, opening up potentially lucrative markets in Africa. DCO launched the initiative in Riyadh, Saudi Arabia, venue of the maiden edition of LEAP. During the launch, DCO Secretary-General, Deema Al-Yahya, explained that the Startup Passport would provide expedited entry and support in the markets of eight DCO countries. Al-Yahya said the initiative would be rolled out first in Saudi Arabia and Nigeria, before extending it to other African countries. The founding member nations of DCO are Bahrain, Jordan, Kuwait, Nigeria Oman, Pakistan and Saudi Arabia. The DCO is focused on 10 areas, which are access to connectivity, cross-border data flows, ethical use of technology, digital identity management, data pooling and user privacy, mobility of skilled ICT labor, accelerating start-ups and SMEs, adoption of emerging technologies, alignment on digital taxation and cooperation on Research and Development (R&D) and innovation. Al-Yahya said the initiative would reduce administrative and financial burdens and would accelerate corporate registration and other processes for entrepreneurs. “Through this passport, they will be able to enter the markets of other DCO member states. This will further our mission of coordinating efforts and sharing expertise to grow the digital economy for the benefit of all nations,” she said. She explained that during LEAP 2022, the DCO also endorsed Elevate50, an initiative launched to support 50,000 small to medium-sized enterprises over the next three years to sell their products online. The DCO Secretary-General noted that the inaugural LEAP was set to become the world’s largest debut technology platform, spotlighting the entire innovation ecosystem, connecting pioneers and disruptors with business and government leaders, entrepreneurs, investors and more to experience and learn about the technologies of the future. With Saudi Arabia’s technology sector said to worth more than $40 billion, the new investments announced at LEAP 2022 are part of the Kingdom’s ongoing plans to transform into an innovation-based economy, which have already seen the country become one of the fastest-growing new markets for Fintech and digital content in the region. Saudi Minister of Communications and Information Technology, Abdullah Alswaha, said: “Investments and initiatives are manifestation of the Kingdom’s push toward the growth of the digital economy for the greater good of people, the planet and the prosperity of the MENA region. They mark the next level of growth for the digital economy in Saudi Arabia, the MENA region’s largest technology and digital market.”

THURSDAY, FEBRUARY 10, 2022 • T H I S D AY

BUSINESSWORLD

INTERVIEW

‘No Going Back on New Standard of Practice in Advertising Industry’ Registrar, Advertising Practitioners Council of Nigeria, Dr. Lekan Fadolapo, speaks on the need for stakeholders in the Marketing Communication industry to adhere strictly to the global best practice as well as promote policies that can strengthen Nigeria’s economy. Raheem Akingbolu brings the excerpts: The decision of APCON to introduce a code of conduct titled “Advertising Industry Standard of Practice’’ (AISOP), four months ago, was received with mixed feelings, with a section of the stakeholders calling for its review. How far have you gone with its implementation? fter months of engagement and plans for execution, Advertising Industry Standard of Practice (AISOP) is set to commence a national road show on AISOP, partnering with the Broadcasting Organisation of Nigeria and other stakeholders to further deepen our campaign. We have gotten to the stage where we will take the new standard of practice to suppliers through interactive sessions across the country. Like every new thing, there could be little resistance because, man by nature, finds it tough adapting to change. But in the long run, what he fears to do might be the best for him and the society. This is the case of AISOP. It’s a well thought-out industry issue that is meant to redefine practice as well as boosting the economy. After implementation, anybody found wanting will not only be sanctioned but will be dealt with by stakeholders. AISOP is not something that we came up with overnight. It was a lingering industry issue that we had to put to rest once and for all. To achieve that, we came up with a committee of stakeholders chaired by a former President of the Association of Advertising Agencies of Nigeria (AAAN), who is also the Group Managing Director of COSSE, Funmi Onabolu and the committee put the document together. For so many years, the advertising industry had operated without a code of conduct, hence the need for a new regime. At the end of the day, the committee came up with a document, which aligns with the best practices in most parts of the world, which will make every stakeholder not to be subjected to unfair business practices. The fundamental principle is to ensure we do not encourage or continue to operate in an environment that is like a jungle or an environment where many of the stakeholders feel they are not experiencing any growth.

But it has been described as a retrogressive policy to the economy you claim it would boost in the long run. What’s your reaction to this? Whoever tags AISOP a retrogressive policy is either being mischievous or not interested in industry growth. Those who are keen about industry growth

are daily pushing for the need to do things that will strengthen the practice of the industry and this is one. We need new initiatives that would further open up the industry. To me, the turning point is AISOP. AISOP was specifically set up to effectively tackle the numerous challenges facing Nigeria’s advertising industry, review the advertising code, and to provide the regulatory framework in all critical areas of concern such as Engagement policy, Payment terms and conditions, numeration model, media rates and commissions, disengagement protocols, credit policy, return of advertisement and measurement, and peaceful resolution. Under media rates deregulation, APCON is saying no sector of the Industry should be allowed to cap or determine what media houses should charge as media advert rates. However, media houses must give at least 30 days’ notice before implementation of a new media rate. It is also provided that advertisers and agencies have a duty to accord Nigeria media houses the same mutual respect they accord foreign media operating in Nigeria and all stakeholders will have to align with best practices. Again, in line with best practices, payment for media and other advertisement services would be done within 45 days. Any payment after 45 days will attract interest at prevailing CBN interest rate. Advertisers and agencies would have to honour advertising and marketing communications invoice promptly and parties to a business transaction must be transparent in their dealings. Besides, Pitch procedure has become professionalized as parties in the pitch process must respect Nigeria’s copyright Law. Pitch fee would now be paid to agencies that participated in a pitch process in line with best practices while profile presentation, agency visit, meet-and-greet are made free. However, Strategy and/or Creative Presentation attracts pitch fees if the agency participates in a pitch. Then we have an agency disengagement policy. Here, we are saying; where advertisers decide to disengage an agency, an incoming agency, the outgoing agency and the advertiser must reconcile all financial obligations which have arisen during the existence of the business relationship. The outgoing agency must hand over the assets and liabilities of the account

to the new agency to enable interested parties track financial obligations and responsibilities. Finally, under the new regime, all contracts of advertisement, advertising and marketing communications mandatorily expected to be in writing and duly signed by parties involved in the contract. The implementation has since begun from October 6th, 2021 with all existing contracts, MPO, LPO and other POs already on-going were permitted to serve out their engagement terms while any other engagement subsequent to the effective date of commencement of the AISOP must align with the AISOP. Beyond the need for the new standard of practice, what other challenges do you think are facing the industry? One of the challenges of the advertising industry is the unbundling of the profession. Advertising is now more of marketing communication. In the past years, we had one advertising agency offering a supermarket of services. In one agency, you would have creative, experiential, Activation, Above the Line(ATL), Through the Line(TTL), strategy, branding, activation, media. Twenty years ago, when MIPAN came, the media independents said they could no longer remain with advertising and they left. Experiential people also left. Creative people are planning to perform off-shore. Account management people are leaving and saying they want to become consultants. So, new professions will come up. Before now, the media was guesstimate. But now, the media is no longer on guesstimate. You need to do proper media plan, strategy. Buying media now is not because I know you. You need to support it with insights and data. Likewise experiential, when you are putting your money behind activation, you will expect them to come back with a research to the extent that you can ring it up with your ROI. Digital is taking a new shape because our market or profession is now data-driven. We can’t live in the past and think that we can be relevant in the future. Another issue plaguing the industry is the issue of nagging debts and payment cycle bordering on client-agency relationship. Of course, AISOP has taken care of this challenge because we cannot continue to do the business of advertising the way we have done it before. This issue is beyond the media independent and

the outdoor. It also involves advertising agencies. Several years ago, there were claims and counterclaims on the real value of advertising debt. Some said the debts stood at N25 billion while there were counter claims that it was N40 billion. I remember a time when a committee, which I was part of, was set up to reconcile industry debts. Presently, we have gone past that stage as the Onabolu committee has addressed it through AISOP. What are the policies and regulations by APCON to protect local content and expertise in the advertising industry? We are trying as much as possible to protect the advertising jobs of Nigerians from encroachment by foreigners. Our laws have gone through several readings and public hearings and we are tuning it up now. A situation where a foreign creative Director is hired to work in Nigeria and he is paid N5 million and whereas you have a Nigerian of the same status, caliber and position being paid like N200, 000 is going to be a thing of the past. How do we intend to do that? For every foreigner that is coming to work in this industry, they need to get approval from APCON. This is the only way we can secure our profession. In a similar vein, the Honourable Minister of Information, had some time ago given a directive to APCON and NBC that all ads should be done in Nigeria and failure to which a fine would be served on errant stations airing those ads. So, we want a situation where our own experts are also involved in the entire communication space so that we do not continue to play second fiddle to some organisations or foreigners, which ultimately leads to capital flight in the industry. We also want to ensure that the environment is conducive for everyone to practice the profession. We will provide a healthy business environment and ensure that the practitioners are also protected. One of the few things we are doing now as part of our corporate licence requirement is to evaluate the remittance of pension by advertising agencies to the government. This means that you cannot employ your staff as an agency without contributing your statutory contribution to the government so that it will be deducted. So, when the staff are leaving, they have something to fall back on. For the employees, we will protect them, for the employers, we will prepare them for the expectation. For the people that are coming to the industry, they can see a better future.

NITDA Hosts Stakeholders’ Session To Discuss Digitalisation In Nigeria Emma Okonji The National Information Technology Development Agency (NITDA), in collaboration with the Lagos State Government, recently held a stakeholders’ engagement session to analyze the prospects and constraints of digitalization and entrepreneurial evolution and the ramifications of the digital economy, particularly for Nigeria. This gathering was held at the Lagos Chamber for Commerce and Industry, Ikeja Lagos. Themed, ‘Creating opportunities, breaking boundaries: towards digitalization and entrepreneurial evolution,’ the forum was to specifically to provide vital insights and aid in breaking down barriers to digitization and evolution. In the keynote speech, the Honourable Commissioner for the Lagos State Ministry of Science and Technology, Hakeem Popoola Fahm, noted that digital technologies have larger consequences for value creation and value capture than merely providing new options for inventors and entrepreneurs. The Commissioner further stated that NITDA, since it’s establishment in April 2001 to carry out the Nigerian Information Technology Policy and oversee general information technology development, have continued to build a framework for the planning, research, development, standardization, implementation, coordination, monitoring, evaluation, and regulation of information technology practices, activities, and systems in Nigeria. NITDA has been Nigeria’s

primary Agency in charge of e-government implementation, Internet governance, and general IT development, he said. However, the introduction of unique and powerful digital technologies, platforms, and

infrastructures has fundamentally altered innovation and entrepreneurship. Hakeem further noted that to realize digital technology’s full social and economic potential while avoiding unexpected consequences,

we must immediately strengthen local cooperation. Similarly, in the welcome address by the CCIE Director-General/ CEO of the National Information Technology Development Agency, (NITDA), Kashifu Inuwa Abdulahi,

the DG stated that the three cardinal objective of the stakeholders forum is to offer our stakeholders the opportunity to express their views and opinions on matters related to the Agency’s implementation of its mandate, establish sustainable

collaborations and consistent channel for feedback and exchange of ideas and share with stakeholders, the vision, regulatory instruments for national development, and the journey so far.

US Promotes STEM Education, Introduces Drone Soccer Competition Emma Okonji The United States government has reiterated its committed to support programs that promote STEM education and provide students with opportunities to contribute to creating sustainable and inclusive economic prosperity in Nigeria. In line with the commitment, the US Consulate General in collaboration with the Global Air Drone Academy and the Lagos State Ministry of Education, hosted Africa’s first drone soccer competition in Lagos. Eight girl-led teams selected from 71 student teams from public high schools across Agege, Alimosho and

Ifako Ijaiye communities of Lagos Education District 1, participated in the keenly contested competition. The Pace Setters Team from Ijaiye Housing Estate Senior Grammar School, emerged as the winner of the tournament. Alisgrams Team from Alimosho Senior Grammar School and Alpha Team from Abesan Senior High School, took second and third place positions respectively. The three best performing teams won a prize of a $1,500 STEM lab each for their respective schools. Delivering remarks at the grand finale of the tournament, US Consulate Public Affairs Officer, Stephen Ibelli, highlighted the

importance of STEM education to Nigeria’s future prosperity and economic competitiveness. He explained that the tournament was designed to provide the students withquality technological learning opportunities and stimulate their interest in math and science, as well as careers in the STEM fields. “We are so proud to partner with the Lagos State Ministry of Education and the Global Air Drone Academy to not only bring practical, hands-on STEM education to the Lagos school district but also to offer the opportunity for representing schools to show off their STEM skills in drone soccer,

the world’s newest sport,” Ibelli said. Co-founder of the USheadquartered Global Air Drone Academy, Eno Umoh, explained that one of the key objectives of the program was to engage underserved communities, especially young girls, about the impact they could have in STEM fields. “We are beyond excited to be pioneering the newest emerging e-sport in Africa. Drones are an innovative and engaging tool that can be used to inspire students to pursue education and careers in STEM,” Umoh added. The drone soccer competition

was a follow-up initiative to a series of drone technology and STEM training for 500 students as well as a capacity building workshop for 50 teachers on effective approaches to teaching STEM subjects which were held in 2021 in Lagos Education District 1. Drone Soccer is the world’s newest e-sport played with flying quadcopters in protective plastic exoskeletons designed for full-contact gameplay. Drone Soccer is the only educational robotics competition that is also an international sport, sanctioned by the World Air Sports Federation (Fédération Aéronautique Internationale) in 2018.

Nokia 105 Africa Edition Arrives in Nigeria Emma Okonji HMD Global, the home of Nokia phones, has announced the latest Nokia 105 Africa Edition, designed to bring more value, connectivity, and quality

to Nigerians. Nokia continues to introduce the best phones that serve all the essentials of a quality device. The Nokia 105 is built with a long-lasting battery life and a wireless FM radio that enables

users to listen to their favourite sports, news, and entertainment channels on the go even without a headset. Speaking about the device, the General Manager, West, East and Central Africa at HMD

Global, Joseph Umunakwe, said: “When it comes to feature phones, consumers are looking for longevity, reliability, and affordability. Our Nokia 105 feature phone line has brought essential connectivity to many

people around the world, with hundreds of millions of devices sold worldwide. Today, we are proud to launch the Nokia 105 Africa Edition, at an even more affordable price – an investment you can keep for longer.”

THURSDAY FEBRUARY 10, 2022 • T H I S D AY

THURSDAY, FEBRUARY 10, 2022 • T H I S D AY

HEALTH & LIFESTYLE Agboyi-Owode Community and Its Shabby Health Centre

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

In this report, Sunday Ehigiator, who recently visited theAgboyi-Owode community in Lagos State writes on the pathetic state of the over 70-year-old Primary Health Centre meant to serve over 30,000 members of the riverine community and the pains of pregnant women who are forced to resort to traditional birth attendants

His Royal Majesty (HRM), Oba. Mao Oladega.

gboyi-Owode is a community of over 600 years of existence, located under Agboyi-Ketu LCDA, in Kosofe Local Government Area (LGA) of Lagos State. It is a community surrounded by deep dark waters, and home to no fewer than 30,000 inhabitants. The community, governed by a paramount ruler, known as Olu of Agboyi, in the person of His Royal Majesty (HRM), Oba Mao Oladega, is majorly known for mat-weaving and fishing, which contributed immensely to the Internally Generated Revenue (IGR) of the state in time past. Its community comprises six villages, including, Agboyi I, Agboyi II, Agboyi III, Okunagbon, Papa, and Ilaje. However, it has only one Primary Healthcare Centre (PHC) which has existed for over 70 years, to cater for the needs of over 30,000 persons in the community. About Agboyi-Owode PHC The healthcare center is located close to the riverbank of Agboyi II. Upon visitation on Wednesday, September 8, 2021, at exactly 1:50 pm, THISDAY met the centre under lock and key. The nurses and other staff (cleaners) had all closed for work and gone home. From information gathered, they closed for work at about 1:30 pm after conducting immunisation exercises on some children between ages 0-4 years old. We were however able to gain entrance into the building with the help of some concerned members of the community, and volunteer staff (also a member of the community) of the clinic who is always in charge of the keys. Upon entering, we were welcomed by a leaking roof, untidiness, and a muddy floor, which tripped this reporter off his feet. Every part of the center was untidy and seriously leaked water from the roof. The COVID-19 vaccines storage device seen at the centre were seriously beaten by raindrops from a leaking roof and made awkward noise. Findings revealed also that the centre has no resident doctor attached, but only two nurses who don’t come to work till 10 am and rush home before noon or occasionally by 2 pm when it’s immunisation day. Upon entering the maternity ward and labour room, the rooms looked abandoned, unkept and waterlogged at the corners. Also, the drug dispensary of the clinic was empty, not even paracetamol was available at the centre. THISDAY equally found out that the centre does not provide antenatal care for pregnant women nor has it taken delivery of any child in the last 30 years. This is because no capable hands are manning the center. The state of the healthcare centre has forced pregnant women in the community to patronise Traditional Birth Attendants (TBA), a.k.a. Iya Alagbo, which has garnered so much recognition in the

Leaking Roofs of Agboyi PHC (1) community, for care during pregnancy and labour. Only very few who can afford modern-day hospital care, go through the length of travelling across the river for proper antenatal care at private hospitals around Ketu. Even so, the people suffer a high rate of maternal and child mortality, especially when there are complications during and after delivery by a TBA. Speaking with THISDAY, an indigene of the community, also a Clergyman of the Anglican Communion, Venerable Tunde Owoyele revealed that the Agboyi healthcare was initially a dispensary meant to provide recommended drugs to community members before it was converted to a PHC by the government. “I am over 60 years old now, and I grew up to see it there. It has been there for close to a century. Up till now after it has long been upgraded, we still don’t have doctors there, just nurses. “When we were growing up, there were some of our community members that were trained and posted there as dispensers. They help us clean our wounds and administer tetanus injections. “After it was upgraded, a nurse was always attached there, who comes to work just two or thrice a week to come and attend to any serious cases.” Cry for Help Also speaking with THISDAY, the Olu of Agboyi, HRM Talladega said, “Women in this community face a lot of issues during pregnancy and childbirth due to the bad state of the healthcare. “Every part of the centre is leaking, no drugs at the centre or funding from the government. We have written several letters to the LCDA about the situation of the place but nothing has been done. “We have over 30,000 people in this community and the majority of them are women and children. And the population keeps growing. And we are all supposed to be using just this one health centre. “I am over 50 years old now; this healthcare center has been in existence long before I was born. It has been in existence for over 70 years. This village is over 600 years old and

Covid - 19 Vaccine Storage Equipment being destroyed by water from Leaking roof used to be an economic strength for the state. However, things have become very bad now. “TBA has gained a lot of popularity here. Only a few that can afford the cost to go across the water to get care at private hospitals. “But I can say that over 90 per cent of pregnant women in this community patronise TBA, and we all know the risk that comes with that especially when there are emergencies. “Most of these deliveries take place at the dead of the night. And if there are complications, before you get a boat to take the woman across the water, and then find a car to take her to the nearest private hospital, she would have lost her life due to loss of blood and exhaustion. “This is why we are begging the government and every other concerned Nigerians to come to our help. They should help us at least upgrade and equip it within the immediate need. Then also provide us with a proper hospital with well-trained doctors,” he noted. Adding his voice, Venerable Owoyele called for the intervention of government, charity organisations, and private individuals to help the community in renovating, upgrading, and equipping the healthcare center for the benefit of the community and humanity. “The government should please take this case as a matter of urgency, especially because of the health and well-being of women and children in the community which is very fragile. “We record a lot of maternal and child mortality cases in this community. This is due to the poor state of the center, and to get proper care, one has to go outside the community through the water, and that’s if you can afford the hospital bills. “The healthcare centre currently doesn’t do anything else other than immunisation. They can attend to any emergency cases. This makes pregnant women patronise TBA’s, which also has its disadvantages especially when there are complications.” The TBA Angle Speaking with THISDAY, the Head of Traditional Birth Attendants in Agboyi, Mrs. Olasunbo Agoro, said “our women don’t use the centre because of the poor state of things. “They also prefer to patronise us because our care is very affordable. Sometimes we

“The PHC doesn’t have any doctor attached. The place doesn’t even provide antenatal service or delivery”

even take delivery free of charge. As cheap as you think N200 is, some women can’t afford to buy herbs. “Sometimes, after the delivery of some women, they don’t have money to pay us; we let them go out of compassion for the mother and child. Some will just squeeze N500 in our hands, we take it. “For us, it’s not about profit but the love for life. I have been doing this job for exactly 30 years. I didn’t go to school, my parents weren’t TBA, and I learned this job from an outsider at the same time my mates were going to school.” On why women aren’t patronising the PHC, she said “the PHC doesn’t have any doctor attached. The place doesn’t even provide antenatal service or delivery. “I can say I was the only person that has ever taken delivery of a child there, which was in 1992. The lady is 29 years old now. It was an emergency, and the woman was rushed there but the nurses couldn’t handle it without the presence of a gynaecologist. “So I was called upon and I rushed there, and I thank God it was a successful delivery. Before then I never heard of anyone giving birth at the healthcare center. And since then, no one has also given birth there.” The SDG-3 In 2015, at the seventieth session of the United Nations General Assembly (UNGA), 17 Sustainable Development Goals (SDGs) were adopted and set to be achieved by 2030. The third on the list of these goals (SDG-3) was to “ensure healthy lives and promote well-being for all at all ages.” More insights into the SDG-3, includes, reducing the global maternal mortality ratio to less than 70 per 100,000 live births, ending preventable deaths of newborns and children under five years of age, with all countries (including Nigeria) aiming to reduce neonatal mortality to at least 12 per 1,000 live births and under-5 mortality to 25 per 1,000 live births. The goal was also targeted at ending the epidemics of AIDS, tuberculosis, malaria, neglected tropical diseases, and combat hepatitis, water-borne diseases, and other communicable diseases. It aims to reduce, by one-third, premature mortality from non-communicable diseases through prevention and treatment and promote mental health and well-being.” It also includes the provision of a Universal Health Coverage (UHC; SDG 3.8), which aims to provide access to good-quality health services for all, without financial hardship. At the heart of this was also the provision and proper funding of primary healthcare services, which is targeted at reducing out-of-pocket spending on healthcare and providing better access to quality healthcare service, especially for rural dwellers.

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

NEWS

FERTILITY

With Dr. Kemi AILOJE drkemi@lifelinkfertility.com www.lifelinkfertility.com +2348033083580

SYNLAB Launches Diagnostics L a b o r a t o r y i n D E L S U T H Trichomoniasis and Infertility (Part 2) Nume Ekeghe Nigeria’s leading medical laboratory diagnostic (pathology) service provider, SYNLAB, recently launched a state-of-the-art diagnostic medical laboratory at the Delta State University Teaching Hospital (DELSUTH), Oghara. This was part of the company’s effort in supporting the state government in providing quality healthcare services to the people. The gesture, which is the result of a Public-Private Partnership between the Delta State government and SYNLAB, is in sync with the company’s compelling mission, which is to make excellent medical diagnostic services accessible to Nigerians. Chief Executive Officer, SYNLAB Nigeria, Kenneth Okolie, speaking during the event, called on private sector

players to collaborate with the government in providing effective solutions to tackle infrastructural deficits across sectors, and addressing the challenges of providing quality healthcare services. “One of the challenges we face in Nigeria is access to quality healthcare services. “The government has many responsibilities across different sectors with limited resources to go around. “It is for this reason, SYNLAB has entered into a Public-Private Partnership with Delta State to provide quality and accessible healthcare to the people of Delta state. “Our mission at SYNLAB is to make excellent medical diagnosis accessible in SubSaharan Africa starting with Nigeria” he said. Commending SYNLAB for the launch of the new diagnostic lab, Dr Onome Ogueh, Chief

Medical Officer, DELSUTH said “as a teaching hospital, what is most important to us is service delivery—to provide the service our patients need. “This is why we are grateful to SYNLAB for coming to DELSUTH. We believe the presence of SYNLAB here will increase our capacity to provide proper service delivery to our patients and doctors.” Member, representing Ethiope West in the Delta State House of Assembly, Hon. Erhiatake Ibori-Suenu hailed SYNLAB for partnering DELSUTH to uplift the healthcare system in Oghara, saying that she has no doubt her constituents will immensely benefit from this new partnership. SYNLAB has promised to make the new facility in Oghara, Delta state an ISO accredited facility; setting the same global standard with their facilities across Nigeria.

ast week, we started a topic on Trichomoniasis and its effect on fertility. We discussed the risks, signs, symptoms, complications and its effect on fertility. This week, we will be concluding with the diagnosis, prevention, management and treatments.

L-R Chairman Medical Advisory Committee DELSUTH, Dr. Nekwu Emmanuel Okolugbo; Chief Medical Director DELSUTH, Dr. Onome Ogueh; Member, Delta State House of Assembly, Hon. Erhiatake Ibori-Suenu; Chief Executive Oﬃcer, SYNLAB Nigeria, Kenneth Okolie at the recent launch of the company’s diagnostic laboratory at the Delta State University Teaching Hospital in Oghara, Delta State

Nigerian Diaspora Pharmaceutical Group Launches Peer Review-Journal Sunday Ehigiator The Nigerian Association of Pharmacists and Pharmaceutical Scientists in the Americans (NAPPSA), has launched a peer-reviewed scientific journal, the American Journal of Pharmacotherapy and Pharmaceutical Sciences (AJPPS). In a recent press statement by NAPPSA signed by the journal’s co-founder and chair of the Journal Management Board, Dr. Anthony Ikeme, the journal is said to be a culmination of two years of hard work and a core part of the NAPPSA 10-Year Growth Strategy Plan launched in 2020. According to IKeme, “NAPPSA now stands as the very first Nigerian Diasporan professional organization to own her peer-reviewed journal. “The journal has further reinforced the body’s leadership role and its desire to support global health by enabling the advancement of pharmaceutical practice, sciences, and education, particularly in its homeland. “It also allows the NAPPSA scientific community the opportunity to help shape the global research agenda. Other key initiatives highlighted in the roadmap, launched in 2020 by Dr. Ikeme as then-president, include a NAPPSA Endowment Fund (NEF),

the acquisition of a NAPPSA House in Washington DC Metropolis and the set-up of a NAPPSA Research Institute (NRI).” According to NAPPSA, AJPPS is an open-access peer-reviewed journal committed to publishing high-quality articles in the field of Pharmacotherapy, Public Health, Ethnomedicine, Toxicology, Food Science, Nutrition, Biomedical, and Pharmaceutical Sciences. Speaking on the significance of the milestone while expressing his delight and satisfaction with the feat, Dr. Ikeme said NAPPSA has “attained another milestone in its quest to become one of the respected thought leaders in the evolution of pharmacy and pharmaceutical science discipline and an important voice for our community. “This is a massive accomplishment that we should be very proud of because AJPPS is not like any other journal. “Any individual or group of individuals can set up a journal, but there is something uniquely special about a professional organisation owning a Peer Review-Journal and deploying their collective intellectual will to the advancement of their profession.” The association said the journal, whose editorial board comprises a panel of experts from pharmaceutical science and allied health, has a highly

rigorous peer-review process that makes sure that manuscripts are scientifically accurate, relevant, and novel. “The journal will be edited by BCPS Food and Drug Administration Silver Spring, Managing Director, PharmD Patrick Nwakama, and City University of New York School of Medicine, New York, USA, Ashiwel Undieh, Ph.D., who assured of the highest global ethical standard in line with the Committee on Publication Ethics (COPE), International Committee of Medical Journal Editors (ICMJE), and World Association of Medical Editors (WAME), that set standards and provide guidelines for best practices. “The Journal Editorial Board includes prominent professionals and scientists, including, Current President of NAPPSA, Dr. Teresa Pounds, DG of NAFDAC, Prof. Moji Adeyeye, and Senior Vice President, Novavax Inc. Dr. Henrietta Ukwu.” NAPPSA, representing over 7,000 pharmacists, pharmaceutical scientists, pharmaceutical educators in the Americas, has continued to show leadership and remains a bellwether of critical intervention initiatives in Nigeria’s fight against the coronavirus pandemic and the country’s quest to build local capacity for the manufacturing of pharmaceutical and medical products.

DIAGNOSIS OF TRICHOMONIASIS Trichomoniasis can be detected using a variety of laboratory techniques. An individual’s test technique is determined by the test availability. One or more of the following tests may be recommended by the clinician to diagnose trichomoniasis: • Wet-mount microscopy: Is the most common way to diagnose trichomoniasis in women and anyone who has a vaginal opening. During this test, the clinician will obtain vaginal fluid samples from women and urine samples from males, both of which will be sent to the laboratory. This is done by looking for the Trichomonas vaginalis parasite in a sample of vaginal fluid under a microscope. This type of testing is rapid. • Cultures: This is diagnosed in a laboratory by growing and detecting the parasite. This test can accurately detect trichomoniasis, however the findings takes about 3 to 7 days to be available. In patients whose infection are resistant to common treatments, cultures can be used to try several treatments in the lab to see which one is the most effective, this process is known as drug susceptibility testing. If you have trichomoniasis, you need to be tested for other STIs too. PREVENTION OF TRICHOMONIASIS • Use of condoms: When having sex, condoms are the greatest approach to avoid STIs. It may lower the chance of infection if used correctly and every time you wish to have sex. To give or develop trichomoniasis, a man does not need to ejaculate (cum), however, make sure the condom is on before the penis touches the vagina, mouth, or anus. • Monogamous relationship: Monogamy is defined as a relationship in which only one sexual partner is involved. Having intercourse with only one partner can reduce the risk of contracting a STI. Be faithful to each other after you have been tested for STIs. The chance of contracting a STI increases as the number of partners increases. • Do not douche (washing the vagina with soaps and other chemical products to freshen up): Douching removes some of the bacteria in your vaginal environment that protect you from infection. This could make you more susceptible to STIs. • Do not abuse alcohol or drugs: Drinking too much drink or using drugs can lead to risky action and put you at risk for sexual assault and STIs.

MANAGEMENT AND TREATMENT OF TRICHOMONIASIS Trichomoniasis is a common sexually transmitted disease that can be treated successfully. Couples or sexual partners should take the medication as directed and abstain from sex until the infection has cleared up (approximately one week). Trichomoniasis can linger for months or even years without treatment. It does not go away on its own. Trichomoniasis rarely causes long-term problems, but an untreated infection increases your chances of contracting or spreading HIV and AIDS virus. Trichomoniasis is easily treated with antibiotics as prescribed by your clinician These antibiotics are usually a pill you swallow in a single dose. • If you are treated for trichomoniasis, your sex partner(s) needs to be treated too. Do not have sex until you and your sex partner(s) finish taking all of the antibiotics and have no symptoms. • The antibiotic metronidazole can be used to treat trichomoniasis during any stage of pregnancy. Talk to the clinician about the benefits and risks of taking any medicine during pregnancy. It is important to keep the following points in mind while undergoing treatment: • Up to 95% of infected women can be cured with just one dosage of medicine. The drug may need to be taken for 5 to 7 days by both men and women. • Get trichomoniasis treatment for yourself and sexual partner(s) or the infection will spread. • For at least one week after taking medications, abstain from all sexual activities to allow the drug kill the infection and the symptoms to subside. Having sex too soon after may lead to reinfection. • You should see your healthcare provider in three months to ensure you are no longer infected. • Self-medication should also be avoided, as using incorrect dosages or treatments can result in complications or infections that can cause resistant to treatment. CONCLUSION Trichomoniasis is a very common type of STDs caused by a parasite, which can affect both men and women. Patients are encouraged to abstain from sexual activity for at least one week after completing treatment. Trichomoniasis can be present for months without causing any symptoms. It does not always mean that someone is cheating if you or your spouse have symptoms or test positive for it. While it may be tempting to jump to conclusions, try having an open and honest communication regarding your partner’s sexual activity. Patients should also be offered a detailed explanation of their condition, with a focus on the long-term implications for their own and their partner’s health.

THURSDAY, FEBRUARY 10, 2022 • T H I S D AY

FEATURES

S e t t i n g N e w S t a n d a r d s fo r Non-profit Fusion of Arts, Health In this report, Sunday Ehigiator writes that the newly opened ‘Okunrin Meta Gallery and Creative Hub’ by Sickle-cell Advocacy and Management Initiative, is all about setting new standards for a non-profit fusion of arts and health

he concept of the arts and mental health in therapeutic healing is fast becoming a necessity in impacting the physical, emotional, and psychological needs of people; however, improving mental health is dependent on how we use arts and creativity to impact society. Art and health have been at the center of human interest from the beginning of recorded history. Over the past decade, health psychologists have cautiously begun looking at how the arts might be used in a variety of ways to heal emotional injuries, increase understanding of one and others, develop a capacity for selfreflection, reduce symptoms, and alter behaviors and thinking patterns. Health experts equally asserted that engaging in the arts seems to be growing in popularity as a way to improve your wellbeing, as participating in the arts can enable people to deal with a wide range of mental ill-health conditions and psychological distress. Arts is said to be capable of helping people to improve on their mental health through creativity and creative ways of expressing themselves without having to use words Given the ubiquity of creative expressions, as well as the relative ease of engagement, the extent to which psychological and physiological effects are sustainably health-enhancing is still an important area for public health investigation. It was against this backdrop that SAMI established the ‘Okunrin Meta Gallery and Creative Hub’ to serve as a hub for creative artists and non-artists even with chronic health conditions to express their creativity. In commemoration of the official opening, the hub organised a week-long charity art exhibition themed: ‘Geometrics: The Struggle, The Joy, The Victory’, with a focus on stories about sickle cell. The event featured the collaborative works of visual and mixed media artists, the Executive Director of SAMI, Toyin Adesola, and Popular Documentarian, Olalekan Olafusi. Other features of the event were book reading sessions with authors and celebrities like Sefi Atta, SACO, and Yinka Davies, and knowledge-sharing sessions involving photographers, documentarians, spoken word, and dance. In his opening remarks, the MD/CEO of System Specs Ltd, Mr. John Obaro, who opened the exhibition, articulated his excitement at the great impact that SAMI is having on several Nigerians living with sickle cell, especially those from low-income families and communities. He then called on young Nigerian artists to optimise the opportunity that the Creative Hub offers. He equally noted that “The arts offer solace to weary spirits, and are believed to provide a veritable medium of expression for people to unburden emotions, engage the mind. The role of arts in medicine and public health is underscored by this.” Also speaking, the Chairman, Phillips Consulting, Foluso Phillips, praised the organisation for its immense lifesaving efforts over the 13 years. “Many ‘warriors’ (as people living with sickle cell are called), have found as a haven from the intricate struggles for breath and torrents of pain which characterises the genetic condition.

CEO SystemSpecs, Mr John Obaro, cutting the ribbon to declare the geometrics art exhibition and gallery open

“Being allowed to be creative means that you have an outlet to use your imagination, and also your feelings and emotions, and this is where the hub comes to play.” Attendees at the official opening of geometrics art exhibition and gallery

Attendees at the official opening of geometrics art exhibition and gallery

“The purpose of this event was also to raise funds for the project of the organisation targeted at people with the blood disorder. “Art is a fantastic hobby that can have many positive effects on our mental health. There are a handful

of benefits of art including of some sort in your life. Be that drawing, painting, playing music, and many more creative disciplines, the links between art and mental health are many. “Out of all of the mental health

benefits of art, creative expression is the most relatable to ‘Warriors’. However, sometimes creativity is something that you take for granted when looking for a fun activity. “Being allowed to be creative means that you have an outlet to use your imagination, and also your feelings and emotions, and this is where the hub comes to play. This freedom alone lays the foundation for other benefits that art provides.” Also speaking, the Executive Director of SAMI, Toyin Adesola, stated that arts, creativity, and health are a collaborative effort. “One of the main purposes of having a creative outlet is to create a room for self-expression as a way to cope with distress, especially when it comes from general stress or other mental health issues like depression and anxiety disorders. “Although art can be beneficial on its own, there is also art therapy where you work with a professional to find relief by interpreting the art you create and finding solutions for you. And this is the vision.” She, therefore, urged young and upcoming artists, ‘Warriors’, and others alike, to avail themselves with the space Okunrin Meta Gallery and Creative Hub offers, so to find expressions and create, promote their boundless artistic and innovative skills.

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

FEATURES

Nigerian Healthcare and Its Non-existent Medical Emergency Services Dr. John Samuel Ehiozua

o cardiac activity, Carotid pulse absent, pupils fixed and dilated, not reactive to light is all it takes for one to die in Nigeria. Most deaths in Nigeria are harrowing and lonely because the victims struggle and appeal, albeit silently, to live, but no one gives them a chance. This piece is in memory of a dear friend, brother, and colleague whom I find challenging to refer to in past tenses: Dr. Odion Francis Ohiosimuan, aka Dr 10-Digits. We formed our friendship on a burning altar and at shallow points in our lives along with Dr.Ovie Avwenaghagha. The three of us passed through life, we saw it all; mischief, partying, studying, quarreling. While I referred to Ovie as the soul and conscience of the group, Francis was more like the life of our team. The Ambrose Alii University medical school became a discovery ground for us, and we did have lots of fun. The trio of us remained inseparable despite getting married, having children, and living in different countries. Ohiosimuan talked a lot about his childhood and his friends, and we also got to know his very close friends and confidants like the great Alex Iwetan, Osa, and the one he loves to call 50-50. My alias Dr.12-Bills was forged and cemented in his 3-bedroom rented apartment in the heart of Ujemen town in Ekpoma, which became our meeting point for years. It is also interesting to note that we also began to bicker a lot as we grew into our late thirties, but it was all love and probably a mid-life crisis. The last time I physically saw this great man from Emai clan was the 15th of April 2019 when he traveled down to Benin in the middle of a workweek to celebrate my wife’s birthday and bid me goodbye as I was leaving the country for good; he was that selfless. Francis was well known and loved by many, and I wasn’t surprised to see his pictures put up in my Secondary School WhatsApp group: Boys Model Secondary School Evboneka, 99 sets. We call it the compound and I was elated reading the nice words people who had encounters with him at various stages of his life had to say about him. It was a shocker I got on January 8, 2022 at 7 am sitting in my car when I called my wife to give her my usual morning gossip. Her words were, “Honey; I have very unpleasant news for you; your friend is dead. He is sitting just at the back of a vehicle parked on the premises of a private hospital. I was stunned for God knows how long, and my first words were, “What is he doing at the back seat of the car in a hospital? Was his heart shocked? Any cardiopulmonary resuscitation? Oh, my word, I forgot I was probably daydreaming; wake up, boy, it’s Nigeria we are talking about here. I completely lost it because that would be the second time Nigeria would stab me in the back in less than five years.

Late Dr. Ohiosimuan First was my wife’s older sister, Dr. Cynthia Ovuede, a senior registrar in Internal Medicine at the University of Benin Teaching Hospital. She had acute complications from a cerebrovascular event and was also certified dead in the car without a chance at life. I pleaded with my wife to please do something; get him out of the vehicle, and do a cardiac massage, and coincidentally, the attending physician was also a classmate of ours. Honey, I will call you back, and so I was left in the dark and in the car at temperatures hovering at -20 degrees; It was when I started shaking I realized the car ignition was off. I quickly dialed Dr. Ovie Avwenaghagha, our mutual friend, but it was 6 am his time and so didn’t pick up; then I called Dr. Idogho Jefferey and broke the news. It will interest you to know that the first question they all asked were the same “was Cardiopulmonary Resuscitation done?. No, sir, it’s Nigeria we are talking about here; the only people who deserve a Cardiopulmonary Resuscitation are the very important persons in the society. My friend wasn’t in that class. Now let’s talk medical science; Cardiopulmonary Resuscitation, aka CPR is simply giving the heart

a kick start, and all it takes is to kneel beside a person and expend your energy by pressing on their chest. The American Heart Association lists the adult chain of survival care for an out-of-hospital cardiac arrest patient to include activation of emergency response, high-quality C.P.R., defibrillation, advanced Resuscitation, post-cardiac arrest care, and recovery. The high representation given to CPR is because quality chest compressions are all one needs to provide the heart with a fighting chance to restart and continue with its assigned duties, which is to aid blood circulation. The 2010 guideline didn’t even put it lightly “The lay rescuer should not check for a pulse and should assume that cardiac arrest is present if an adult suddenly collapses, or an unresponsive victim is not breathing normally.” It further advised the rescuer not to spend more than 10 seconds checking for a pulse but to commence chest compressions within that time frame instead. The guidelines were reviewed and updated in 2020 and now recommend laypersons to initiate Cardiopulmonary Resuscitation for presumed cardiac arrests because the risk of harm to the patient is significantly low even if the person is not in cardiac arrest. It was January 21 on the 6th floor at a hospital in Etobicoke, Canada. I was on tour with some persons when we were suddenly interrupted by flashing blue lights at almost all points my eyes could focus on, and then the announcer calmly called out the words code blue 6th floor and gave a room number. Within 5 minutes, the floor was filled with more than 30 persons; you couldn’t even tell who a doctor or nurse or an allied health practitioner was because they all wore scrubs with one mission in mind to save a life. The only person you could decipher easily was the security guard, who stood calmly at the door, watching the procedure and taking his notes. There was an immediate coldness in the air, and then we were interrupted by the nurse taking us around, a PHD Candidate and scholar, in her rights, asked us to please clear the hallway as they will need to take the patient to the intensive care unit when spontaneous circulation returns. Such arrogance, or was it overconfidence, and when I glanced at the wall to my right and saw the words Be a Hero/ Help a Hero, I understood where the confidence was coming from. I fought back the tears and didn’t know when I spoke with pulsed lips the words “Ahhh !!! Francis, if only you managed to escape like some of us did, you possibly would still be alive today. The Nigeria health care system is in shambles, with the handlers clueless on how to run a hospital. The medical and dental council cannot effectively regulate the practice of medicine in a country

where the number of strikes for better working equipment and training is like the air we breath. It will be absurd to argue that the hospitals have ambulance vehicles in their parking lots when it is actually a piece of equipment in the larger picture of Emergency Medical Service that is meant to provide urgent pre-hospital treatment and stabilisation for serious illnesses and injuries. The Federal Ministry of Health policy document on Emergency Medical Service dated March 2016 sums up the lack of seriousness and will to effect change amongst the handlers of the health sector. Why waste taxpayers’ money on a committee when you know their recommendations won’t be implemented; by the way it was a beautiful thirty paged document which should be covered with dust under the minister of heaths desk. In more serious countries, the essential requirement to go on a posting in a hospital is a yearly Basic Life Support course with certification. How many Nigerian clinical staff can boast of training in Basic Life Support, not to mention advanced cardiovascular life support or an advanced trauma life support certification. Can Nigeria ever get it right ? not in my lifetime; the reason I didn’t look back when I had the privilege to swap my citizenship. There are distinguished medical practitioners in Nigeria who continue to give their all despite the chaotic health system. I pray their country and profession will not fail them when needed. Francis had some medical challenges while writing an examination and from eyewitnesses, he didn’t get the deserved attention. Interestingly, the Examination body had not deemed it necessary to offer a detailed explanation of events at the scene to his family. The exam venue was a four-star hotel with no medical emergency preparedness, hydration stations, or ambulance services. The hospital refused to allow him in because they didn’t want to have to explain to the family or the security agents who will possibly want to harass them; we don’t want any issues, so please remain in the car while we do the needful. Dear colleagues, no pulse doesn’t mean they are dead, let’s not abuse the term Brought in Dead/Dead on Arrival. Please give them a fighting chance. How many more will have to go before Nigeria learns her lesson. With heaviness in my heart and tears in my eyes, I say goodbye to my friend Dr. Francis Ohiosimuan Odion, and may the good Lord grant you eternal rest. My only regret is that I didn’t have the privilege to speak to him in 2022 before he passed. Dr. Ohiosimuan was laid to rest February 4, 2022 at his home in Benin City, Nigeria. He was 40 years old. His online memorial: https://www. forevermissed.com/francis-ohiosimuan-odion. • John Samuel Ehiozua writes from Ontario, Canada.

How Tobi Ayodele-Keeney Keeps the Quincy Legacy Going Mary Nnah

anaging Director/CEO of the recently elevated Quincy Wellness & Naturopathic Centre, Ikoyi, Mrs Tobi Ayodele-Keeney, is keeping the family legacy going with the phenomena she is making with her mother’s hitherto slimming outfit, formerly known as Quincy Herbals Nigeria. Before now, Quincy Herbals was known mostly for weight loss and skincare but within the last two years, the firm has upgraded to its new status, Quincy Wellness & Naturopathic Centre, an integrative wellness centre that provides holistic quality primary care to the community with an emphasis on the treatment of chronic illnesses such as diabetes, infertility, high blood pressure, as well as our signature weight loss and skin care programmes. A wide range of healthcare services has been added to its stable, ranging from medical clinics, diagnostic lab, home health medical assessment and care, home laboratory services, telemedicine, detailed integrative medical care, traditional medicine among others. The new improved health facility also offers a fully kitted state-of-the-art laboratory to cater to the needs of clients in getting quick and reliable results of a wide variety of tests with instant interpretations and medical recommendations. Speaking with journalists recently on what informed this major transformation, Keeney, explained that the Quincy journey began on Awolowo Road Lagos in 1996, under the leadership of her mother, Dr Quincy Olasumbo Ayodele, who is from a long line of traditional medicine practitioners and became the pioneer of herbal medicine practised in a modern way, improving on her paternal grandparents’ recipes, researching the best medicinal plants that could aid in weight loss and improve skincare naturally

Managing Director & CEO Quincy Wellness & Naturopathic Centre, Ikoyi, Mrs Tobi AyodeleKeeney and a medical doctor with the Centre, Dr. Uduka Nmaju Kalu during a recent press brieﬁng without adverse effects. Quincy Ayodele worked hard to erase the negative stigma associated with herbal medicine through intensive awareness campaigns and education of the public about the importance of medicinal herbs. She advocated up to the point of being appointed as an expert member on African Traditional Medicine in the World Health Organisation. Today, Quincy Ayodele’s daughter, who seems

to have taken over from her mother, is also keeping the legacy of the family tradition going. The American trained Master’s Degree holder in nursing from the University of Maryland, Baltimore, USA has successfully upgraded Quincy Herbals into Quincy Wellness and Naturopathic Centre, a modern detailed integrative medical facility with world-class facilities which includes a complete medical clinic, diagnostic lab services, healing medspa, aesthetics and skin care services. “We noticed that over this past two decades,

there are a lot of issues that come with being obese and overweight. And that includes high cholesterol, high blood pressure, diabetes, infertility, arthritis, cancer and mental illness. ‘And we found out that we had to naturally treat all those issues attached to it. So we found that for the past twenty years, we have been doing not just weight loss and skincare but every other thing attached to it. “So, roughly two years ago, we decided to evolve to where we are today and where we can also treat a person for not just the weight but everything attached to it. And do it holistically and that is how the idea of upgrading the centre came. “We have been sending people for laboratory work for the past five, six years. So, we decided to just do a lab as well instead of sending people up and down to go and get lab results. And we still do our spa services, our national treatments, and the integrating medicine; which is what the World Health Organisation has recommended we do for the past twenty years.” She, however, maintained that priority and emphasis are placed on natural traditional medicine rather than western medicine. “At Quincy Wellness & Naturopathic Centre, we do integrated medicine. World Health Organisation (WHO) has said African traditional medicine should be integrated into the healthcare system of Africa. Proactive countries have gathered themselves together and started doing it”, she said. On the efficacy of traditional medicine over western medicine, she indicated that the effectiveness of natural medicine cannot be over-emphasised, as she averred that there are limitations to western medicine, whereas, in herbal medicine, the limitation is not in the medicine itself, but rather in the application of the medicine.

THURSDAY, FEBRUARY 10, 2022 • T H I S D AY

BUSINESS/MONEYGUIDE

PEBEC Commences National Action Plan on Ease of Doing Business Sunday Ehigiator

In line with its commitment to improving the business environment in Nigeria, the Presidential Enabling Business Environment Council (PEBEC) has commenced the 7th National Action Plan (NAP 7.0) aimed at driving systemic business climate reforms. A statement by the Special Adviser to President Muhammadu Buhari on Ease of Doing Business, Dr Jumoke Oduwole, revealed that the National Action Plan which was first introduced in February 2017 has become a signature homegrown 60-day accelerator and reform tool designed to coordinate the effective delivery of priority reforms of select ministries, departments and agencies annually. “This year’s action plan was approved at PEBEC’s meeting of February 1, 2022, and it’s scheduled to run from February 7 to April 7, 2022, to further reduce the challenges faced by MSMEs across five areas, including, Agro-Export Implementation Action Plan, Automation Reforms, Regulatory Reforms, Legislative/Judicial

Reforms and Executive Order 01/ReportGov.NG compliance reforms, ”she said. According to her, the reforms include the streamlining and simplification of ago-export regulatory practices to boost the competitiveness of Nigeria’s agroexports while enhancing Nigeria’s foreign exchange earnings as stated in the Agro-Export Plan. The Agro-Export Action Plan stems from the report of the AgroExport Ad-Hoc Committee earlier constituted in November 2021 by His Excellency, Vice President Yemi Osinbajo, SAN, GCON and Chair of the PEBEC. The Committee was chaired by the Honourable Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, while the Special Adviser to the President on Ease of Doing Business, Oduwole, coordinates its activities. Furthermore, NAP 7.0 seeks to intensify efforts at improving the travel experience at our airports and to strengthen the automation of the business incorporation process of the Corporate Affairs Commission. Other reforms include the establishment of Small Claims

Court across more States of the Federation, as well as to drive adoption of electronic filing of taxes by taxpayers. At the end of the 60-day window, it is expected that MSMEs will experience an enhanced trademark registration process, with vast improvements in the tracking and evaluation of MDAs’ compliance with the directives of the Executive Order 01 (EO1). EO1 implementation will be supported with improved complaint resolution on the ReportGov.NG platform, with the enlisting of more MDAs listed on the platform. In her remarks at the launch of the 7th National Action Plan, the PEBEC Secretary and Special Adviser to the President on Ease of Doing Business, Dr Oduwole, stated that “the 7th National Action Plan is designed to break away from the recent lacklustre performances of the 5th and 6th NAP editions, which ended at 44 per cent and 43 per cent respectively. “With the firm support of the Council to always count upon, it is expected that NAP 7.0 reform implementation by our MDAs will mark a remarkable improvement over recent editions.”

Stanbic IBTC Opens Strategic Branch in Lekki Free Trade Zone Dike Onwuamaeze The Chief Executive of Stanbic IBTC Holdings PLC, Mr. Demola Sogunle, took a strategic step on Monday when he commissioned a new branch of the StanbicIBTC Bank in the Lekki Free Trade Zone (LFTZ), Ibeju-Lekki axis of Lagos State. Sogunle said that the bank took the step to establish its physical presence in the LFTZ as a forward-thinking financial institution that is mindful that the axis would soon become a centre of economic activities in Lagos State and the entire country. The branch is located a few metres away from the gate of the Dangote petroleum refinery and petrochemical industries. He said: “We felt that we have to establish our physical

presence here because this axis is one of the fastest-growing areas in the country and West African sub-region in terms of industrialisation. We felt that we will bring our services and solutions to the very doorstep of major economic activities within this neighbourhood. “This is a very strategic and intentional move if you check the volume of investments that have been committed to this axis, whether in the context of the largest petroleum refinery, the largest petrochemical plant that is coming up, the free trade zone, manufacturing activities as well as the deep sea port coming up within this axis. You do not need to be told that what we got here in terms of GDP contribution is bigger than some African countries. “We just have to be here in

order to support, partner, and see to the development of this axis in terms of economic activities.” He said that the StanbicIBTC is an end-to-end financial institution whose services cover pensions, assets management, stockbroking, insurance, banking, and investment banking. “We have got everything. All the workers here will need a pension, insurance, consumer credit, etc.; we have got them all within the StanbicIBTC. This area can only grow, so we are happy to be associated with what is happening here and it can only get better,” Sogunle said. The Chief Executive, Stanbic IBTC Bank, Mr. Wole Adeniyi, also commented on the significance of the new branch, which he said would catalyse vast investment opportunities inherent in the region.

MARKET INDICATORS MONEY AND CREDIT STATISTICS Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

The Outgoing Flag Officer Commanding (FOC) Eastern Naval Command Rear Admiral, SK Ibrahim, has stated commitment the Nigeria Navy will remain committed to provide adequate security to critical national assets (CNA) in the Niger Delta to ensure increased economic development of the area, for the overall benefit of the people and investors. He stated this at the commissioning of the Navy MiniBarracks at Ekefe Junction -Ikuru Town, Rivers State. It was observed tha the mini barracks was built and donated to the Nigerian Navy by Green Energy International Limited, the Operator of the Otakikpo marginal field in collaboration with its technical partner, Lekoil oil and gas limited. Ibrahim who was represented by the Commander Nigerian Navy Ship Jubilee, Commodore SG Olubode Fazaz, noted that corporate organizations, the communities and security agencies must continue to work together in synergy to protect

investments and secure the lives and properties in the Niger Delta. He said the Nigeria Navy under the Chief of Naval Staff, Vice Admiral AZ Gambo has improved the security environment of the area. He commended Green Energy for the consistent focus on securing the area of operation in Andoni area and recalled the construction of the Navy barracks in Ikuru town, stating that the mini barracks would provide more accommodation and facilities to the navy staff in performance of their duties. The FOC while calling on other companies in the area to emulate the oil and gas company noted: “This project!would not only contribute positively to the operational effectiveness of the Naval Outpost Ikuru, but will also boost the morale of personnel of the Outpost.” Ibrahim hinted that he felt a great sense of fulfilment knowing that another positive impact has been made to the Nigerian Navy. In his remarks, the Chief Executive Officer, Green Energy International Limited (GEIL) Prof. Anthony Adegbulugbe, said the

building of the mini barracks was part of its corporate social responsibility (CSR) to aid the performance of the Nigeria Navy. He said the project was a follow up to the building of the Navy facility and barracks in Ikuru town in Andoni community in 2015, and donation of hilux truck in 2019, adding that the security network of the area would be improved with the additional provision of accommodation. “The facility which consist of 6rooms, a security post and an observation tower , a kitchen, a store and office facilities. Other facilities include a 20kVA generator and 12 panel and 6 battery solar lighting system,” noted. Adegbulugbe remarked that in the light of the company’s mandate to create a localised domestic market based on small scale gas opportunities in Nigeria and Africa, the company with its JV partner highly investing in gas utilization, “through LPG and Gas to power Projects which are nearing completion and due for commissioning in second quarter of this year.” According to him, “The gas

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

Green Energy Donates Mini Barracks To Nigerian Navy Ugo Aliogo

(MILLION NAIRA)

JANUARY 2021

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͵

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY • THURSDAY, FEBRUARY 10, 2022

NEWS

Gains in Access bank, Guinness, 25 Others Lift Stock Market By N54bn Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday ended the three-day investors’ profit-taking buoyed by bargain hunting in Access Bank Plc, Guinness Nigeria, and 25 others as the overall market capitalisation gained N54 billion. The overall market capitalisation size gained N54 billion to close at N25.411 trillion from

N25.36 trillion it opened for trading, while the NGX All-Share Index (ASI) increased by 99.99 basis points or 0.21 per cent to close at 47,157.23 points from 47,057.24 basis points it opened for trading. Sector performances were broadly positive yesterday with the NGX Banking Index gaining 1.68 per cent; NGC Consumer Goods added 0.65 per cent; NGX Oil and Gas Index rose by 0.09

P R I C E S MAIN BOARD

F O R DEALS

per cent and NGX Industrial Index gained 0.03 per cent. As measured by market breadth, market sentiment was positive as 27 stocks gained relative to 14 losers. R.T.Briscoe Nigeria recorded the highest price gain of 10 per cent to close at 33 kobo, per share. SCOA Nigeria followed with a gain 9.49 per cent to close at N1.50, while SUNU Assurance rose by 8.33 per cent to close at 39 kobo, per share.

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

NEM Insurance went up by 7.25 per cent to close at N3.55, while UBN appreciated by 6.84 per cent to close at N6.25, per share. On the other hand, Juli Plc led the losers’ chart by 9.89 per cent to close at 82 kobo, while Multiverse Mining & Exploration followed with a decline of 4.76 per cent to close at 20 kobo, per share. Sovereign Trust Insurance shed 4.17 per cent to close at

T R A D E D

VALUE TRADED ( N)

MAIN BOARD

23 kobo, while UPDC Real Estate Investment Trust and AIICO Insurance lost 2.74 per cent each to close at N3.55 and 71 kobo respectively, per share. Also, the total volume traded rose by 24.8 per cent to 297.245 million units, valued at N4.694 billion, and exchanged in 4,661 deals. Transactions in the shares of Access Bank topped the activity chart with 48.079 million shares valued

O F

0 9

at N498.703 million. Sovreign Trust Insurance followed with 37.478 million shares worth N8.621 million, while Nigerian Exchange Group (NGXGroup) traded 22.695 million shares valued at N567.093 million. Fidelity Bank traded 21.021 million shares valued at N60.503 million, while Transnational Corporation of Nigeria (Transcorp) transacted 18.366 million shares worth N21.412 million.

/ 0 2 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

Thursday, February 10, 2022

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THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ Ϯ͕Ϭϯϳ͘Ϯϯ ƉŽŝŶƚƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ďƵǇ ƉƌĞƐƐƵƌĞ ŽŶ EͲ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ ƐƚŽĐŬƐ ;нϬ͘ϰйͿ͘ ĐƵŵƵůĂͲ /d, ;нϬ͘ϰйͿ͕ & E, ;нϬ͘ϱйͿ͕ ĂŶĚ dŚĞƐĞ > & Z'

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

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dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϬ͘ϱй ŽĨ ƚŚĞ Current Price

Ticker

ŝŶĚĞǆ͘

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THISDAY AFRINVEST 40

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5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

ĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ

15.0%

3.5%

33.1%

#VALUE!

5.5x

0.8x

5.2%

ot Applicable

1.4%

16.5%

5.3%

7.5%

197.00

0.0%

7.7%

0.0%

134.7%

14.1%

13.4x

20.7x

70.75

0.0%

6.8%

5.5%

19.1%

11.2%

34.0x

6.4x

27.25

0.0%

6.4%

4.8%

24.8%

3.9%

4.1x

1.0x

11.0%

24.3% 27.2%

2.9%

6.0%

7.8%

20.9%

2.8%

3.7x

0.7x

11.1%

4.4%

6.9%

40.4%

16.7%

13.7x

5.3x

5.9%

7.3%

1,435.00

0.0%

3.1%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

8 FBN Holdings Plc 9 Lafarge Africa PLC

11.05

0.5%

3.1%

-3.1%

8.4%

0.8%

6.5x

0.5x

4.1%

15.3%

26.60

0.4%

3.4%

11.1%

11.6%

8.4%

9.9x

1.1x

3.8%

10.1%

10 Access Bank PLC 11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

10.50

2.9%

12.9%

17.0%

1.4%

2.9x

0.5x

8.3%

34.0%

8.70

1.2%

2.2%

8.1%

19.5%

1.8%

2.2x

0.4x

6.3%

45.7%

17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

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9.9% 103.7%

Divindend Earnings Yield Yield

P/BV

0.4%

15 Ecobank Transnational Inc 16 International Brew eries PLC

DŝǆĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

P/E

0.0%

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38.3%

ROA

27.10

ǁŚŝůĞ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ ƚŽ ƚƌĂĚĞĚ ŵĂƌŬĞƚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ േϱϯ͘ϵďŶ ǁŚŝůĞ ǀĂůƵĞ

0.0%

ROE

274.80

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ Ϯϵϳ͘Ϯŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů ϳ͘ϳй ƚŽ േϰ͘ϳďŶ͘

0.33%

1,271.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ

^ŚĂƌĞ

2037.23

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

Price Previous Price Current Change Price Change Weighting Index to Change YTD Date

22 FCMB Group Plc 23 United Capital PLC

35.00

0.0%

1.5%

-2.8%

15.1%

2.1%

7.9x

1.2x

11.7%

12.7%

48.00

0.0%

1.4%

-4.0%

5.3%

1.9%

44.2x

2.3x

2.3%

866.00

0.0%

2.0%

33.2%

3.4%

1.9%

19.8x

0.7x

4.8%

12.30

2.5%

1.8%

41.4%

2.8x

5.1% 35.5%

5.30

5.0%

1.1%

7.1%

-10.3%

-3.9%

127.80

0.0%

0.9%

-10.0%

36.5%

23.3%

8.7x

2.9x

31.25

4.3%

1.0%

10.2%

15.9%

4.5%

4.8x

0.7x

1.0x

-10.7% 11.5% 5.3%

20.9%

2.90

0.7%

13.7%

13.3%

1.3%

2.2x

0.3x

7.6%

45.4%

2.40

-1.6%

0.6%

3.4%

9.3%

3.0%

7.4x

0.7x

9.2%

13.5%

11.5x

1.7x

8.5%

8.7%

0.2x

5.0%

17.55

0.0%

0.5%

0.9%

15.3%

6.3%

2.99

-0.3%

0.4%

0.0%

10.3%

1.1%

11.00

-0.5%

0.4%

11.1%

2.5x

6.4%

50.00

3.0%

0.4%

28.2%

13.3%

6.0%

10.5x

1.3x

0.9%

9.5%

1.16

0.0%

0.4%

20.8%

11.1%

2.3%

6.2x

0.6x

0.9%

16.2%

3.55

7.3%

0.2%

-21.1%

35.6%

18.5%

5.5x

0.9x

5.1%

18.1%

104.00

-0.5%

0.3%

18.5%

2.2x

1.0% 3.0%

8.0%

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

26 NEM Insurance PLC 27 Presco PLC

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d

28 NASCON Allied Industries PLC 29 AIICO Insurance PLC

13.25

0.0%

0.3%

0.4%

21.3%

6.9%

12.5x

2.5x

0.71

-2.7%

0.2%

1.4%

7.2%

1.1%

394.4x

0.7x

30 TotalEnergies Marketing Nigeri 31 Custodian and Allied Insurance

241.00

0.0%

0.2%

8.6%

48.0%

9.5%

4.9x

2.0x

1.6%

20.4%

ĂƐ Ăůů ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ ƐĂǀĞ ƚŚĞ &ZͲ/ d ŝŶĚĞǆ ǁŚŝĐŚ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞǆ ůĞĚ ƚŚĞ ŐĂŝŶĞƌƐ ĐŚĂƌƚ͕ ƵƉ ϭ͘ϳй ĚƌŝǀĞŶ ďǇ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ h E ;нϲ͘ϴйͿ ĂŶĚ ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

^^ ;нϮ͘ϵйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ

/ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϳй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ĂĐĐŽƵŶƚ ŽĨ ďƵǇŝŶŐ ;Ͳϯ͘ϱйͿ͕ ŝŶƚĞƌĞƐƚ ŝŶ /Ed Z t ;нϱ͘ϬйͿ͕ ϵ͘ϭйͿ͕ hE/> s Z >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕ &>KhZD/>> ;нϰ͘ϯйͿ͕ E D ;нϳ͘ϯйͿ͕ ĂŶĚ D E &/d ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

7.90

0.0%

0.2%

0.0%

19.5%

5.5%

4.6x

0.9x

7.0%

21.5%

32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC

24.40

0.0%

0.2%

8.4%

38.7%

16.0%

6.3x

2.2x

6.4%

16.0%

13.15

0.0%

0.1%

-9.3%

7.8%

4.9%

29.2x

1.1x

34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

26.05

0.4%

0.2%

16.6%

18.9%

2.4%

3.9x

0.8x

1.5%

25.4%

4.0%

36 Oando PLC 37 Wema Bank PLC

ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ ;нϰ͘ϬйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ

38 Sterling Bank PLC 39 Notore Chemical Industries Ltd

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ Ϭ͘ϭй ĂŶĚ ϯďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ

40 Transcorp Hotels Plc

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ K E K ;нϬ͘ϲйͿ ĂŶĚ t W K Ğƌ͕

ƵƉ

;нϬ͘ϰйͿ͘

ϭ͘ϴй

ĚƌŝǀĞŶ

ďǇ

ƉƌŝĐĞ

ĂƉƉƌĞĐŝĂͲ

0.3%

6.25

6.8%

0.1%

5.9%

7.1%

0.8%

7.0x

0.7x

5.05

0.6%

0.0%

14.3%

14.5%

2.6%

2.2x

0.3x

0.86

-1.1%

0.1%

19.4%

14.1%

0.8%

3.7x

0.5x

4.7%

1.2%

0.1%

13.9%

9.4%

0.9%

2.2x

0.4x

2.9%

62.50

0.0%

0.1%

0.0%

-28.3%

-6.1%

5.38

0.0%

2.4x

T o p 10 T r a d e s b y V o l u m e T ic k er

Vo lum e

P ric e C hg %

R T B R ISC OE

0.33

10.0%

A C C ESS

48.1

2.9%

SC OA

1.50

9.5%

SOVR EN IN S

37.5

-4.2%

SUN UA SSUR

0.39

8.3%

N GXGR OUP

22.7

0.6%

N EM

3.55

7.3%

F ID ELIT YB K

21.0

0.7%

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

UB N

6.25

6.8%

T R A N SC OR P

18.4

0.0%

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

N EIM ET H

1.91

5.5%

GT C O

17.3

0.0%

ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘Ϯǆ ĨƌŽŵ ͲϬ͘ϭǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞǀŝͲ

IN T B R EW

5.30

5.0%

Z EN IT H B A N K

15.8

0.4%

UB A

KƵƚůŽŽŬ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

ŽƵƐ ƐĞƐƐŝŽŶ ĂƐ Ϯϳ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ ϭϰ ůŽƐƚ ǁŚŝůĞ ϭϭϴ ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ǁĞƌĞ ƵŶĐŚĂŶŐĞĚ͘ ƚŽĚĂǇ͛Ɛ ƐĞƐƐŝŽŶ͕ ĞǆƉĞĐƚ ƚŚĞ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ /Ŷ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ǁĞ ;нϵ͘ϵйͿ͕ D zͲ

A C A D EM Y

1.30

4.8%

F LOUR M ILL

31.25

4.3%

M B EN EF IT

0.26

4.0%

ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

T ic k er J ULI M ULT IVER SE

1.2%

8.9

-2.7%

P R ESC O

8.5

-0.5%

T o p 10 T r a d e s b y V a l u e

P ric e

P ric e C hg %

0.82

-9.9%

0.20

-4.8%

SOVR EN IN S

0.23

-4.2%

A IIC O

0.71

-2.7%

UP D C R EIT

3.55

-2.7%

UN IT YB N K

0.49

-2.0%

LIN KA SSUR E

0.50

-2.0%

H ON YF LOUR

Afrinvest West Africa Limited

10.6

A IIC O

T o p 10 L o s e r s

ŝŵƉƌŽǀĞĚ ƐĞŶƟŵĞŶƚ ƚŽ ƐƵƐƚĂŝŶ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ͘ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ

44.5%

0.9x

P ric e C hg %

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

26.7%

-13.8%

P ric e

14.2% 46.0%

1.72

T o p 10 G a in e r s T ic k er

3.4%

3.39

-1.7%

M A N SA R D

2.40

-1.6%

F ID SON

7.73

-1.5%

T ic k er

Value

P ric e C hg %

P R ESC O

910.7

-0.5%

M TNN

865.9

0.0%

N GXGR OUP

567.1

0.6% 2.9%

A C C ESS

498.7

GT C O

473.1

0.0%

Z EN IT H B A N K

428.2

0.4%

F LOUR M ILL

158.9

4.3%

UB A

91.5

1.2%

SEP LA T

76.1

0.0%

60.5

0.7%

F ID ELIT YB K

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

THURSDAY, FEBRUARY 10, 2022 • 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 08Feb-2022, 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 171.98 173.13 3.06% Afrinvest Plutus Fund 100.00 100.00 9.03% Nigeria International Debt Fund 321.69 321.69 3.30% Afrinvest Dollar Fund 99.05 100.20 -1.93% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 10.05% AIICO Balanced Fund 3.50 3.56 -1.17% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.74% Anchoria Equity Fund 144.77 146.58 3.82% Anchoria Fixed Income Fund 1.18 1.18 2.95% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.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 20.94 21.57 3.23% ARM Discovery Balanced Fund 473.07 487.33 4.86% ARM Ethical Fund 39.25 40.44 0.76% ARM Eurobond Fund ($) 1.08 1.08 -0.39% ARM Fixed Income Fund 1.02 1.02 0.51% ARM Money Market Fund 1.00 1.00 8.30% 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 108.65 108.65 6.82% AVA GAM Fixed Income Dollar Naira 1,077.24 1,077.24 7.72% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 8.66% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.25 2.29 30.60% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 1.01% 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 9.41% Paramount Equity Fund 18.48 18.81 9.81% Women's Investment Fund 145.99 147.61 4.97% 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 N/A N/A N/A Cordros Milestone Fund N/A N/A N/A

N/A

Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 6.58% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.76% EDC Nigeria Fixed Income Fund 1,143.51 1,146.98 -2.21% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.50% Emerging Africa Bond Fund 1.01 1.01 3.60% Emerging Africa Balanced Diversity Fund 1.03 1.03 2.05% Emerging Africa Eurobond Fund 101.22 101.22 0.36% 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 Fixed Income Fund 1,411.46 1,411.46 11.05% FBN Balanced Fund 181.65 183.02 3.65% FBN Halal Fund 116.75 116.75 8.86% FBN Money Market Fund 100.00 100.00 8.91% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

122.65 153.49

122.65 3.85% 155.48 1.97% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.99 1.81 1.21

Offer Price Yield / T-Rtn 1.00 7.64% 3.99 -0.22% 1.85 4.00% 1.21 0.46% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.54 1.57 2.48% Vantage Balanced Fund 1,147.74 1,147.74 0.97% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.32 142.37 -8.54% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 1.90% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 3.98% 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 1.54 1.57 2.48% Lotus Halal Fixed Income Fund 1,147.74 1,147.74 0.97% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.51 12.64 6.27% Meristem Money Market Fund 10.00 10.00 9.54% 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) 100.93 100.93 8.69% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.92% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.00 133.51 7.20% 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 1.08 1.08 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,515.53 3,553.28 2.09% Stanbic IBTC Bond Fund 236.46 236.46 0.31% Stanbic IBTC Ethical Fund 1.33 1.36 3.46% Stanbic IBTC Guaranteed Investment Fund 314.96 314.96 0.52% Stanbic IBTC Iman Fund 245.07 248.70 1.22% Stanbic IBTC Money Market Fund 100.00 100.00 6.83% Stanbic IBTC Nigerian Equity Fund 11,256.00 11,411.22 1.31% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.45% Stanbic IBTC Shariah Fixed Income Fund 117.36 117.36 0.33% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.36 107.36 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 0.97 0.99 4.44% United Capital Balanced Fund 1.41 1.43 3.54% United Capital Wealth for Women Fund 1.14 1.16 4.80% United Capital Sukuk Fund 1.08 1.08 0.80% United Capital Fixed Income Fund 1.97 1.97 0.75% United Capital Eurobond Fund 123.03 123.03 0.57% United Capital Money Market Fund 1.00 1.00 7.61% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.41 13.53 1.67% Zenith ESG Impact Fund 15.27 15.44 4.54% Zenith Income Fund 22.23 22.23 1.11%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

14.04 134.51 106.37 19.36 22.73

14.14 137.87 108.71 19.46 22.83

0.55% 2.20% 2.65% 0.00% 0.00%

Fund Name SFS REIT Union Homes 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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

N/A N/A N/A N/A N/A N/A

NAV Per Share

Yield / T-Rtn

107.28

10.80%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

TRIBUTE

Fayemi: Celebrating a Bridge Builder at 57

By Yinka Oyebode os, the capital of Plateau State played host to an unusual gathering of top government functionaries and frontline religious and community leaders on September 6, last year. These include the Secretary to the Government of the Federation, Boss Mustapha, Co-chairmen of Nigeria Inter-Religious Council, Sultan Sa’ad Abubakar, and Rev Samson Ayokunle; Governor Kayode Fayemi of Ekiti State, Governor Waziri Tambuwal of Sokoto, Governor Sani Bello of Niger and Governor Simon Lalong of Plateau State, who was the host of the peace building meeting convened to resolve the ethno religious crisis that had threatened the peace in the North Central State. The meeting was frank and decisive as the SGF who represented President Mohammad Buhari at the parley hinted on the Federal Government’s commitment to resolving the crisis. The second half of the meeting featured presentations by leaders of the various religious and ethnic groups. An octogenarian Islamic cleric, Imam Abdulahi Abubakar from Barkin Ladi Local Government, spiced up his presentation by recapping how Governor Kayode Fayemi awarded him a honourary doctorate degree of the Ekiti State University in recognition of his peace initiatives in the northern state some years ago. The celebrated cleric who is a chief Imam in his mosque had saved the lives of over 200 Tivs who were Christians by hiding them in his mosque and feeding them throughout the period of the crisis. Imam Abubakar told the cheering audience to appreciate the Governor for his gesture: “I have never met the Governor before. I was invited by the University for the award, I hope I can use this opportunity to thank the Governor for recognising my little effort”, the octogenarian cleric said as he made his way to the high table to have a hand shake with Dr Fayemi. Instances abound of Dr Fayemi’s bridge building and peace -making efforts aimed at ensuring amicable resolution of knotty issues of socio-political, economic and ethno religious significance and in the process stabilising the Nigerian society and giving peace a chance to take a firm root. Indeed, effort at building bridges and salvaging situations remains a familiar pastime of Kayode Fayemi, Chairman of the Nigeria Governors’ Forum, who has his signature in many fence mending efforts across the length and breadth of the country and beyond. Fayemi’s penchant for peaceful resolution of conflict as a precursor to development made him come up with policies that addressed some inequalities and lop-sidedness in the mining sector during his stint as Minister of Mines and Steel Development between 2015 and 2018. Key among these was the win-win approach he engineered to address the contentious issue of land ownership. Through the right mix of policy, advocacy and consultation with critical stakeholders the exclusive right of the Federal Government on minerals and mining was retained, but a creative to enable the 36 states benefit from the resources in their domain was charted, while the host communities also get their deserved compensation. It is generally believed that the Nigeria Governors’ Forum under Governor Fayemi’s chairmanship has become a vehicle for bridge building and peace initiatives. What with many interventions on issues bordering on workers welfare, women and children, sharing formula of the commonwealth as well as ethno-religious crisis. Back home in Ekiti where he holds sway as the “Ilufemiloye”, (the people’s governor),

Fayemi his bridge-building efforts has made the adherents of the various religion live together in harmony. Opposition parties are also able to ventilate divergent views on state matters and hold political activities without any fear of molestation. His administration is reputable for effective handling of knotty traditional and chieftaincy issues through alternative conflict resolution methods. His annual meeting with communities for their input into the state’s annual budget preparation has been applauded by development partners and international donor agencies as a good model for development. The Collins English Dictionary defines a Bridge builder as a person who attempts to connect or reconcile opposing parties. Fayemi, in his bridge building efforts, creates relationships that cut across the lines of conflict, helps to forge ties across borders, cultures, religions, power bloc. He establishes relationships, improve communication, and build trust between conflicting people and groups which helps opposing groups of people to understand each other or behave well towards each other. Former External Affairs Minister, Prof Bolaji Akinyemi, remarked on Fayemi’s bridge building efforts during a lecture marking the 60th anniversary of the Nigeria Institute for International Affairs (NIIA) in Lagos recently, and urged him not to

relent. “The country needs this type of interventions at this critical period. And I am happy you are one of the respected voices preaching peace.”. And like Ralph Waldo Emerson, American essayist, lecturer, philosopher, and poet who led the transcendentalist movement of the mid-19th century, said: “Do not follow where the path may lead. Go instead where there is no path and leave a trail.” For Fayemi, going where there seems to be no path is a familiar pastime. And leaving a trail- an impact, a legacy comes to him naturally. He combines integrity, creativity and sincerity with passion for excellence and development. JKF stated this much in one of his books: “Reclaiming The Trust”. He admits that what he has brought into governance is the kind of trust that is based on and compels competence, openness, concern and reliability. “Trust is a public good; we cannot do great things collectively without trust. But trust has to be earned” he stresses. The Ekiti State Governor had emerged on the peace building scene at the beginning of the Fourth Republic when he served as Technical Adviser to the Justice Chukwudifu Oputa- led Human Rights Violation Investigation Commission Panel that looked into cases of human rights abuses under the then military regime. Prior to that time, he had joined forces with an army of pro-democracy agitators

outside the shores of the land, working for the revalidation of the June 12, 1993 Presidential election won by the late Chief Moshood Abiola. As Dr Fayemi turns 57 today, the question is no longer about what he is capable of doing as a leader, peace maker and bridge builder. He has been able to demonstrate his capability as an imaginative, innovative and exemplary leader. Instead, the question will be about what he would not do as a leader as many have come to believe that his past adequately prepared him for the present and the future. Born on February 9, 1965, John Kayode Fayemi received his first degree in History and Politics from the University of Lagos in 1985, a Master’s degree in International Relations from the University of Ife, Ile-Ife (now Obafemi Awolowo University), in 1987 and a doctorate in War Studies from the King’s College, University of London, UK in 1993. His research and policy development interests include: Natural Resource Governance, Democratisation, Constitutionalism, Security Sector Governance, Civil-Military Relations and Regionalism in the Global Context. Dr. Fayemi was the founding director of the Centre for Democracy and Development (CDD), a research and training institute dedicated to the study and promotion of democratisation, peace-building and human security in Africa. As a central figure in the coalition of civil society actors that resisted oppressive military rule in Nigeria in the early 1990s, he was central to the founding and running of opposition radio stations while in exile. Dr. Fayemi is a prominent member of the governing All Progressives Congress (APC) and chaired the party's National Convention Planning Committee that produced the Presidential Candidate for the 2015 general election and now President. He also served as the Director, Policy Research and Strategy of the APC Presidential Campaign Council. He was inaugurated as Governor of Ekiti State on October 16, 2010 and was named Minister of Mines and Steel Development in 2015. During his tenure as minister, he also chaired the governing board of the Nigeria Extractive Industries Transparency Initiative. However, he resigned his ministerial position in 2018 to contest the governorship of Ekiti State. He won and was inaugurated as governor for the second term on October 16, 2018. His colleagues unanimously elected him Chairman of the NGF in May 2019. Dr Fayemi is married to Erelu Bisi Fayemi, the renowned women’s and children’s rights advocate, international development specialist, writer and social entrepreneur; and they are blessed with a son. In the words of the late sage, Chief Obafemi Awolowo “It is not life that matters but the courage you bring to it.” Dr Fayemi, as a firm believer in the philosophy of the great leader, brings courage, resilience and tact to bear on every task the same way he drives his public service with great vision, working with imagination, insight, and boldness, his eyes fixed on the horizon, not just on the near at hand but the big picture and thinking strategically. Regarded as a consummate intellectual in government, Fayemi’s strength lies in his ability to initiate and pursue peace processes to logical conclusion and finding creative ways to ensure every peaceful step taken yields dividends in form of sustainable development. Today, I join millions of admirers to present 57 garlands to this exceptional leader, reliable mediator, bridge builder, change agent, thinker and innovator as he takes the fifty-seventh step in his untiring service to our dear state and country. The journey is just about to begin. r0ZFCPEF JT $IJFG 1SFTT 4FDSFUBSZ UP UIF (PWFSOPS &LJUJ 4UBUF

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

FORTY-ONE

PDP N’Assembly Caucus Advocates Unity Ahead Anticipated Mass Defection Anyim notifies federal lawmakers of presidential aspiration Tambuwal promises to use modern technology to secure Nigeria Chuks Okocha in Abuja The National Assembly caucus of the main opposition Peoples Democratic Party (PDP) has advised the leadership of the party to unite members ahead of an anticipated mass defection from the governing All Progressives Congress (APC), in the aftermath of the ruling party’s national convention on February 26. Minority Leader of the House of Representatives, Ndudi Elumelu gave the advice, when the former senate president, Anyim Pius Anyim, formally notified the PDP caucus in the National Assembly of his presidential ambition. In a related development, Sokoto State Governor, and Peoples Democratic Party (PDP) presidential aspirant, Aminu Tambuwal, promised to use modern technology to secure Nigeria if elected president next year.

Speaking while receiving Anyim, Elumelu urged the leadership of PDP to do all within their power to ensure a united party, because of the expected mass defection that would follow due to disaffection from the ruling party’s national convention on February 26. Elumelu, "What we need is unity – a united party. We are in touch with many members of the APC that will join us. We should not be talking about age. We should not be using abusive language. We should be willing to accept other members, who will be joining us. "All we need is unity. The time is ripe. This is the time of our harvest. The APC is in deep crisis and the February 26 national convention will worsen the crisis. As politicians, those aggrieved will be looking for a better alternative and the PDP is the better alternation. “I want to thank our presidential

hopeful for bringing the light and leading the way by being the first to come and consult with the National Assembly minority caucus. You have set the pace and we understand what this means to the grassroots and for that, I give you kudos.” He alleged that APC was disjointed, while “PDP has successfully shown that it can lead the way. Today, we have completed our convention and all the congresses were done without acrimony. Of course, you know that APC set out to produce 36 states chairmen and in the Federal Capital Territory (FCT), but succeeded in electing 92. So, I wonder how they are going to do their convention. “It behoves us to be more united. The fallout of February 26 will form a new Nigeria, where PDP will be leading the progressives to rescue Nigeria. And for that, I want to plead with our presidential

hopefuls to talk to their supporters. We should not abuse ourselves; we should not insult ourselves. At the end of the day, it is the same house that we all belong to. Let all of you go out and canvass for support.” Earlier, Senate Minority Leader, Senator Enyinnaya Abaribe, commended Anyim for finding it worthy to inform the National Assembly of his presidential intention. Abribe stated, "If a former member of the legislature goes to the executive arm, that experience has shown that they will do better. "On behalf of the PDP caucus in the 9th National Assembly, we urge you to go ahead and contest but you should be aware that you would be meeting other aspirants in the field. Usually, the National Assembly is taken for granted but Senator Anyim is now reckoning with us and we appreciate this

gesture and we urge him on. “How can we tell you not to go ahead, being one of our own? On behalf of the joint caucus of the National Assembly, we say go on and take charge. We are with you.” Anyim, also a former Secretary to the Government of the Federation, said he would always see the National Assembly as his primary constituency, adding that he would be guided by whatever advice the PDP caucus in the federal parliament gave him in the race for the party’s presidential ticket. Anyim stated, “Each time I look back at my political history, I vividly remember that my National Assembly experience is still my best. I needed to report myself to my primary constituency. If you are hearing about this journey, I felt this formal outing would make us to explain it better. “The whole idea is for people

to know that we believe in PDP, we are proud of PDP, committed to PDP and our future is tied to PDP. Sometime ago, I took a look at the political environment and said I should on your behalf, seek the office of the president of the Federal Republic of Nigeria in 2023. “I cannot do it on my own, I cannot do it alone. But if you ask me to stop, I will stop where you ask me to and if you ask me to go ahead, ‘be bold and courageous, that you are with me, whatever the obstacle on the way’, I will go on. When I remember you are with me, I will be bold enough to continue. I have come out to ask you whether we can set out on this journey. If you advise otherwise, I will listen to you attentively. I am a party man. I am here to seek your advice, your guidance and your support as well as your Continued on page 42

ADULTERATED FUEL: KYARI NAMES MRS, EMADEB-CONSORTIUM, OANDO, DUKE OIL AS CULPRITS rejected because of their poor quality, Reuters quoted two sources as having disclosed yesterday. Apparently disturbed by the development, the federal government yesterday ordered investigation into the bad fuel that had damaged the engines of some vehicles. In addition to disrupting the country’s fuel supply chain, the product which led to the damage of several cars, the NNPC disclosed, was imported from Antwerp in Belgium. Speaking in Abuja, Kyari, argued that petrol brought into Nigeria usually does not include the test for the level of methanol content. The NNPC helmsman maintained that cargoes’ quality certificates issued at the loading port in Belgium, by AmSpec Belgium, indicated that the product complied with Nigerian specification. Furthermore, he said the NNPC quality inspectors including GMO, SGS, GeoChem and G&G conducted tests before discharge, which showed that the cargo also met the country’s standard. “As a standard practice for all PMS import to Nigeria, the cargoes were equally certified by inspection agent appointed by the Midstream and Downstream Petroleum Regulatory Authority

(NMDPRA) has met Nigerian specification. “It is important to note that the usual quality inspection protocol employed in both the load port in Belgium and our discharge ports in Nigeria do not include the test for per cent of methanol content and therefore the additive was not detected by our quality inspectors,” he said. Kyari disclosed that the NNPC had ordered the quarantine of all un-evacuated volumes of the contaminated fuel that led to the disruption of the petrol distribution value chain, in order to prevent further distribution. He stressed that the NNPC and other stakeholders were making serious efforts to resolve issues generated by the supply and discharge of methanol blended product in some Nigerian depots. Kyari noted that the NNPC first received a report on January 20, 2022, from its quality inspector of the presence of “emulsion particles” in petrol cargoes shipped to Nigeria from the European country. He added: “In order to prevent the distribution of the petrol, we have ordered the quarantine of all un-evacuated volumes and the holding back of all the affected products in transit (both truck &

marine). “All defaulting suppliers have been put on notice for remedial actions and NNPC will work with the authority to take further necessary actions in line with subsisting regulations. “NNPC wishes to reassure Nigerians that we are currently sourcing additional cargoes to ensure product sufficiency.” According to him, the NNPC has ordered that all the affected products in transit (both truck & marine), should be withheld. But the NNPC GMD’s explanation ran contrary to an earlier press statement released by MRS, where the company denied culpability. In its statement MRS had stated that it remains a responsible corporate citizen and will not be involved in the purchase, importation, distribution or marketing of substandard petroleum products in the country, coming short of directly accusing the NNPC of complicity. “Due to current subsidy regime, NNPC is the sole supplier of all PMS in Nigeria. Consequently, the NNPC through their trading arm Duke Oil, supplied a cargo of PMS purchased from international trader Litasco and delivered it with Motor Tanker (MT) Nord Gainer. This vessel discharged in Apapa between

the 24th and 30th of January, 2022,” it had alleged. As one of the beneficiaries, MRS said it received the product in its depot and distributed the product to only eight of its stations in Lagos. The company described the allegation trending at the time as mischievous, false and untrue. But the NNPC boss maintained that the methanol blended petrol was imported into the country by the suppliers, including MRS, through its Direct-Sales-Direct-Purchase arrangement. The arrangement allows the national oil company to deliver monthly crude oil lifting on Free on Board (FOB) basis to suppliers who in return are supposed to deliver petroleum products of Nigerian standard specification to NNPC. The petroleum products delivered are usually equivalent in value to the crude oil received from NNPC subject to the general terms and conditions as advised. But according to the NNPC, the companies that supplied the methanol blended petrol included MRS which made the importation through a vessel named MT Bow Pioneer. He said while Emadeb/Hyde/ AY Maikifi/Brittania-U Consortium brought in the fuel through a vessel

2022 COMMITTEE MOBILISING NIGERIANS FOR QUALITY LEADERSHIP presidents. “The 2022 Committee” conveners stated, “Whilst the 2022 committee is interested in the quality of leadership that will emerge in Nigeria at all levels, we consider attempts to link the committee with candidates or political parties for the 2023 elections as an unwarranted and unnecessary distraction. Candidates are only chosen by political parties and we are not a political party.” In addition, the group stressed that participants, working in three sub-committees, namely: national security, the economy, and Nigeria in transition, recognised

that there was an urgent need to seek common ground and irreducible minimum actions to stabilise the polity at this critical time of transition. The statement came against the backdrop of speculations that the well-attended event was to select a presidential candidate among the attendees. But the coordinators of the meeting stated that although all the 100 leading lights of the 2022 committee had the capacity for national leadership, it should not be linked to the politics of 2023. The conveners said among the

active participants in the work of the committee were over seven persons, from three or more political parties, who had already publicly declared their aspirations to lead the country but were desirous of working with other patriots for non-partisan greater national goals. “We must have a secure, peaceful and united nation before we can have candidates for political offices,” it added. The statement further said the committee was of the view that what Nigeria needed today was for all patriots to come together to rescue the country from all

political, economic and security threats, and promote the unity of the country. “The meetings will continue as we work with federal and state governments, current and future political leaders of all political persuasions, as well as other eminent patriotic citizens, for the greater good of the Nigerian people,” the group maintained. The group of eminent Nigerians called on all patriotic volunteers, willing and able, to join the collective effort to stabilise the country so that a new Nigeria that all could be proud of, could be built.

ADESINA: AFRICA GDP DECLINED BY $165BN IN 2020, LOWEST IN 20 YEARS since its establishment in 1964. He said these resources had enabled the bank to scale up support to African economies to tackle the pandemic. Adesina said, “The Board of Directors of the Bank approved a Crisis Response Facility of up to $10 Billion. The Bank also launched a $3 Billion Fight COVID-19 Social Bond on the international capital markets, which was the largest ever US-dollar denominated social bond in world history. The Bank provided $ 27 million as grants to the African Centres for Disease Control. “Over the past six years, the African Development Bank has

provided about $39 billion in financing to the continent in support of its High5 priorities to: light up and power Africa; feed Africa; integrate Africa; industrialise Africa; and improve the quality of life of the people of Africa. These High5s are the accelerators for achieving Agenda 2063.” Adesina assured that with $25 billion in equity, the African Development Fund could leverage up to $33 billion of additional financing for low-income countries. According to him, the bank requires the support of the leaders to change the article in the charter of the African Development Fund that bars it from going to

the market to leverage resources, and this is top priority. He said the bank was also leveraging private investments into Africa, in innovative ways, stressing, “The Africa Investment Forum, established by the African Development Bank and its partners, has helped to secure investment interests worth more than $78 billion. “This spectacular level of interest includes a $24 billion transaction for the liquefied natural gas project in Mozambique. We are proud that that this project will make Mozambique the third-largest producer of liquefied natural gas in the world.”

Adesina urged African leaders to link security, investment, growth, and development closely together. He added, “To enhance the security of Africa, the African Development Bank is currently developing Security Indexed Investment Bonds. Proceeds from these bonds, when developed, will support countries and regional economic communities to do four things. “First, to upgrade security architecture. Second, to repair damaged infrastructure in conflictaffected zones. Third, to rebuild social infrastructure. And fourth, to protect zones with strategic investments.

identified as MT Tom Hilde, Oando allegedly brought in the product through a vessel named MT Elka Apollon, while Duke Oil came through MT Nord Gainer vessel. Fuel queues had been building in Lagos and the Federal Capital Territory (FCT), Abuja, due to fuel shortages caused by the withdrawal of the contaminated petrol from the market. But NNPC was said to be seeking thousands of tonnes of the product to ameliorate the situation, the report said. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had said it found fuel with methanol above national specifications in the supply chain and removed the fuel from circulation. Although methanol, in small amounts, is a regular gasoline additive, the regulator said the supplier of the off-specification gasoline was known but did not

name the firm. Nigeria depends almost entirely on imports to meet its domestic fuel needs after many failed attempts to revamp the dilapidated refineries, with daily consumption exceeding 60 million litres. NNPC handles nearly all the imports through crude-for-fuel contracts, known as Direct Sale, direct Purchase (DSDP), with consortia of local and foreign oil firms. Each consortium receives 20,000 barrels per day (bpd) of crude oil in exchange for products, making the combined total about 320,000 bpd of Nigeria's output. Nigerians feel that cheap fuel is one of the few benefits the average Nigerian gets from the government, which sets price caps at the pump through a controversial and patchy subsidy scheme. Continued on page 43

NNPC RAKES IN N2.613TRN FROM PETROL SALES IN ONE YEAR, POSTS $224.29M CRUDE OIL REVENUE receipt for the period of August 2020 to August 2021 stood at $1.84billion, the company revealed. In the gas sector, a total of 233.57 billion cubic feet (bcf) of natural gas was produced in August 2021, translating to an average daily production of 7,534.67million standard cubic feet (mmscfd). For August 2020 to August 2021, a total of 2,890.67bcf of gas was produced, representing an average daily production of 7,303.61mmscfd during the period. Period-to-date under consideration, production from Joint Ventures (JVs), Production Sharing Contracts (PSCs), and the Nigerian Petroleum Development Company (NPDC) contributed about 57.51 per cent, 20.88 per cent, and 21.62 per cent, respectively, to the total national gas production. The report also indicated that out of the 208.64bcf of gas supplied in August 2021, a total of 131.35bcf was commercialised, consisting of 40.22 bcf and 91.13 bcf for the domestic and export markets, respectively. According to NNPC, this translated to an average total supply of 1,297.54mmscfd to the domestic market and 2,939.31mmscfd of gas to the export market for the month. Total gas supply for the period of August 2020 to August 2021, the company said, stood at 2,792.28bcf, out of which 537.51bcf and 1,245.93bcf were commercialised for the domestic and export markets, respectively. In the downstream sector, NNPC stated that a total of 1.532 billion litres of white products were sold and distributed by the Petroleum Products Marketing Company

(PPMC), a downstream subsidiary of NNPC, in August 2021. NNPC said in the report, “A breakdown of the figure indicates that petrol accounted for 99 per cent of total sales, while Automotive Gas Oil (AGO), also known as diesel, accounted for the rest. “Total sale of white products for the period of August 2020 to August 2021 stood at 20.032 billion, with petrol accounting for 99.81 per cent. “In terms of value, a total sum of N203.43billion was made on the sale of white products by PPMC in the month of August 2021. “Total revenues generated from the sales of white products for the period of August 2020 to August 2021 stood at N2.619 trillion, with petrol contributing about 99.76 per cent of the total sales with a value of N2.613 trillion.” On the sabotage of its facilities, the company noted that in August 2021, 21 pipeline points were vandalised, representing 50 per cent decrease from the 42 points recorded in July 2021. According to the report, Port Harcourt area accounted for 10 per cent, while Mosimi area accounted for 90 per cent of the vandalised points. “The August 2021 MFOR, the 73rd in the series, highlights NNPC’s activities for the period of August 2020 to August 2021,” the company stated. It stated that in line with the company’s commitment to the principles of accountability, transparency, performance, and excellence, NNPC had continued to sustain effective communication with stakeholders through the publication of the MFOR in the media.

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

CHEQUE PRESENTATION FOR 2021 SOVEREIGN SUKUK ISSUANCE... L-R: Vice President, Debt Capital Markets, Stanbic IBTC Capital Limited, Ayo-Oluwa Aderibigbe; Chief Executive, Stanbic IBTC Capital Limited, Funso Akere; Managing Director / Chief Executive Officer, Vetiva Capital Management Plc. Chuka Eseka; Director General, Debt Management Office Nigeria, Patience Oniha; and Managing Director / Chief Executive Officer, Greenwich Merchant Bank Limited, Bayo Rotimi at the cheque presentation ceremony for the 2021 Sovereign Sukuk issuance ceremony in Abuja … yesterday

Report: 138 Killed, 101 Kidnapped in Just One Week in Nigeria Kingsley Nwezeh in Abuja No fewer than 138 persons, including security personnel, were killed, while 101 others were abducted in violent attacks across the country in the last one week, Nigeria Security Tracker, published by former United States Ambassador, Mr John Campbell, has said. The update said the violent attacks were largely perpetrated by terrorist groups, bandits, and other criminal groups, in addition to few cases of extrajudicial killings. The latest update, which covered

January 29 to February 4, showed an increase in the number of violent attacks, compared to the previous week. While 20 violent attacks were reported in the previous week, 29 attacks occurred in the week under review, an indication that the security situation had worsened. The report stated that the Nigerian security forces killed no fewer than 124 bandits, terrorists, and other criminals within the period. The update also represented violence related to Boko Haram

in Cameroon, Chad, and Niger. It showed that on January 29, police officers killed two students in Ilorin, Kwara State, while cultists killed five in Ilesha East in Osun State. On the same date, bandits killed 11 people in Shiroro, Niger State, even as Nigerian troops killed two Boko Haram/Islamic State in West Africa (ISWAP) militants in Gujba, Yobe State. On the same date, kidnappers abducted 10 farmers in Akure North, Ondo State, while communal violence led to two deaths

in Biase, Cross River State. On January 30, the report said troops killed three Boko Haram/ ISWAP militants in Magumeri, Borno State, while bandits killed 16 in Zangon Kataf, Kaduna State. The killing rampage continued as bandits killed one and kidnapped “several” (estimated at five) in Birnin-Gwari, Kaduna State. Airstrikes killed 43 bandits in Safana, Katsina State, just as police officers killed 23 bandits across Rabah, Illela, and Goronyo Local Government Areas in Sokoto State. The report stated that on January

31, bandits kidnapped seven people in Kebbi and Sokoto states. On January 25, kidnappers abducted former President Goodluck Jonathan’s cousin in Yenegoa, Bayelsa State, while suspected herdsmen killed the Benue State information commissioner’s brother in Agatu. The report, which is a compilation of figures from news organisations in Nigeria, stated that a landmine planted by bandits killed one soldier in Birnin-Gwari, Kaduna State, while bandits kidnapped 50 in Faskari,

Gbolahan Lawal as Oniru of Iruland. That is the final position of the family. No hungry person can change that position. We are fully committed to reclaiming our family rights," he said. He said Babatunde-Dauda did not represent the family in any of their matters in court, and if he has the instruction of the family signed by the head of the family or his representative, he should lay it bare before the public. "It is very said that someone who did not have the instruction of the family will now be parading himself as the family legal adviser. If he has any paper showing that he was properly briefed by the family he should show it to the public. If he has any court process indicating that his chambers were briefed, he should bring it to the public", he said.

Katsina State. On January 31, kidnappers abducted 11 in Umunneochi in Abia State, just as bandits killed three soldiers and four vigilantes in Mariga Local Government Area and four civilians in Paikoro Local Government Area in Niger State. On February 1, kidnappers abducted three family members and “several” others (estimated at eight total) in Illela, Sokoto State. It said Nigerian troops killed three kidnappers in Uhunmwonde in Edo State on February 2, even as bandits killed six in Jibia, Katsina State. The update further showed that on February 2, kidnappers abducted six in Gusau, Zamfara State, while a Boko Haram road bomb killed a Joint Task Force (JTF) leader in Biu, Borno State, as bandits killed 11 in Kaura, Kaduna State. The report of media reports further showed that “several” people were killed on both sides (estimated at 10 each) during a clash between bandits and soldiers at a military base in Shiroro, Niger State, as bandits killed 17 people in Malumfashi, Katsina State. It said, "Gunmen killed three police officers and abducted ‘several’ (estimated at 10) in Paikoro, Niger State. Airstrikes killed “scores” (estimated at 40) of Boko Haram/ ISWAP militants in Marte, Borno State. "Bandits killed 20 in Tsafe Local Government Area, 10 in Bungudu Local Government Area, and three in Bakura Local Government Area in Zamfara."

for accepting to contest for the position of president. Haliru said, “We are not just happy that you are from Sokoto, and Kebbi is part of Sokoto, but because you actually deserve to do the job. This is because we need somebody who is more credible and who will mend the bond of relationship among Nigerians. We need somebody who is honest, confident, committed and more credible to fix the nation.” A former governor of Sokoto State and former presidential aspirant, Dr Attahiru Bafarawa, expressed appreciation for the warmth reception accorded the entourage in Kebbi, and appealed for more support, prayer and encouragement to succeed.

Bafarawa said, “Tambuwal was not only a legislator but also a lawyer by profession, meaning that he fits into judiciary and at the same time, today, he is a sitting governor serving his second term. “This is to tell you that Tambuwal fits into all the three arms of government. Therefore, he is more credible for the presidential ticket. That’s why we are here to take him to where we want him to be, not where he wants to be.” Welcoming the aspirant and his entourage, Chairman, PDP Kebbi State, Alhaji Usman Bello-Suru, told the delegation that they did not need to beg for votes from Kebbi. Bello-Suru assured them that a block vote from the state was reserved mainly for Tambuwal.

Oniru Stool: FamilyVows to Continue Case against Oba Gbolahan Wale Igbintade Members of Omowumi-Abisogun Oniru of Iruland, Lagos state, have debunked reports that their suit challenging the emergence and enthronement of Oba Gbolahan Lawal, as Oniru of Iruland had been withdrawn. The royal family made the clarification in a statement signed by the head of the OmowumiAbisogun family, Alhaji Suraju Durosinmi. It was reported in some newspaper of Monday, February 7, 2022, that the family members had withdrawn the suit against Oba Lawal. Durosinmi, while refuting the report stated: "There was never a time that Omowumi-Abisogun ruling house, thinks of withdrawing the suit against Lawal Gbolahan.

We consequently dissociate the ruling house from such report." According to him OmowumiAbisogun ruling house, one Monsur Babatunde-Dauda did not have the mandate of the family to act as a counsel representing the family. "Our family is a law-abiding family, we believe in rule-of-law, and that is why we went to court to challenge the emergence of Gbolahan Lawal as Oniru of Iruland. "I am the Head of OmowumiAbisogun Ruling worldwide. We want to bring the attention of the general public to the news that we had instructed one Monsur Babatunde-Dauda, who claimed to be a lawyer representing us to withdraw the suit challenging Gbolahan Lawal as Oniru of Iruland. He did not have

our instruction to withdraw the suit because he is not a lawyer representing us. "He is not known to us and he is not representing us. He and others who met at Oniru palace are busy body interlopers, trying to deceive Gbolahan Lawal so that they will make some money from him. "As an elder, I will only advise Gbolahan Lawal to follow the path of honour and vacate the sacred palace of Oniru because he is not a member of the Oniru family. He should also be mindful of charade with a mission to extort money from him,” he stated. According to him, there was no division among the OmowumiAbisogun ruling house insisting that the process of removing Oba Gbolahan Lawal through legal means WAs ongoing.

‘’Our choice lawyer is doing his work in court. We are not interested in mortgaging our tomorrow for a pot of porridge," Durosinmi said. He said the gathering at the palace of Oniru for reconciliation was a charade without the authority of the Family, insisting that the family has resolved to reclaim the Obaship title of Oniru through the judicial process. According to him, the decision to challenge Oba Gbolahan was a joint decision taken by members of the family both at home and abroad after wide consultations, adding that, the decision cannot be reverted by some people who were not aware of how the process started. "The family of OmowumiAbisogun jointly took the decision to challenge the imposition of

PDP N’ASSEMBLY CAUCUS ADVOCATES UNITY AHEAD ANTICIPATED MASS DEFECTION partnership.” The gathering held at the Transcorp Hilton, Abuja, was attended by Senate minority leader, Enyinnaya Abaribe, his House of Representatives counterpart, Ndudi Elumelu, lawmaker representing Enugu North Senatorial District, Chukwuka Utazi, ex-Deputy Senate President, Ike Ekweremadu, and former governor of Abia State, Senator Theodore Orji, among others. Meanwhile, Tambuwal, in a statement after a consultative meeting with Kebbi State PDP executives, delegates and other key stakeholders of the party held at the state secretariat in Birnin Kebbi, Kebbi State capital, said he was in the state in continuation of his

consultation towards becoming the presidential flag-bearer of PDP. Tambuwal, a former Speaker, House of Representatives, said, “First of all, it’s about ensuring that Nigeria is re-secured and to do that, we must reorientate our security forces so that they learn and understand the techniques of the current security challenges. “We will ensure supply of sufficient modern equipment and ensure that security agents are well taken care of in terms of their welfare, recruit more and more personnel and use modern technology to fight banditry, insurgency and other crimes across Nigeria. “We also intend to create more jobs; we will have no business

with poverty in Nigeria, and by creating more jobs, you are in a way addressing the issue of insecurity. “We also intend to support and boost agriculture that will take care of most of the people by engaging them in one form of agriculture or the other.” On education, the aspirant observed, “If care is not taken, the country’s education system would collapse.” He said the issue was glaring in the lingering squabble between the Academic Staff Union of Universities (ASUU) and the federal government. Tambuwal said on infrastructure that they intended to do a lot more in terms of providing more of rail services in the country by also supporting the constitutional

amendment that will devolve more powers to states, strategising for their involvement in rail system, power and energy. “This will enable states invest in power generation, transmission and distribution as well as provision of railway and other services and a lot of other things that we will do to reform, reposition and take Nigeria to a greater level.” On how to foster unity among Nigerians, Tambuwal said records were there to show, when he was the Speaker, House of Representatives, how he was able to ensure unity among house members from different parts of the country. Earlier, former PDP Board of Trustees’ Chairman, Dr Bello Haliru, commended Tambuwal

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

INAUGURATION OF OLUREMI TINUBU HEALTHCARE CENTER... L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu cutting the tape, flanked by his Deputy, Dr. Obafemi Hamzat (right); Chairman, Amuwo-Odofin Local Government, Dr. Valentine Buraimoh (left) and others, during the inauguration of Senator Oluremi Tinubu Primary Healthcare Center, Festac Town, built by Amuwo Odofin Local Government,...yesterday

Fayemi: At 57, I Pray God Uses Me as Agent of Peace, Prosperity, Progress Buhari, Tinubu felicitate Ekiti governor Deji Elumoye in Abuja and Victor Ogunje in Ado Ekiti Ekiti State Governor, Dr Kayode Fayemi, has said his wish at 57 was for God to continue to use him as agent of peace, progress, prosperity and stability for the nation. The governor, who celebrated his birthday yesterday, added that he had every reason to thank God for the grace He had given him to serve humanity with commitment, sincerity and compassion over the years. Speaking at a thanksgiving mass to mark his 57th birthday at the Government House Chapel, Ado-Ekiti, and attended by his wife, Erelu Bisi Fayemi; the Deputy Governor, Otunba Bisi Egbeyemi, top government functionaries, family members and political associates, Fayemi asked God to continue to use him as an instrument of peace, progress and prosperity for the people. His words: "We have a lot to thank God Almighty for. He has used us to serve our people with commitment, with sincerity and

with compassion in all of what we have been doing and as we roll into the twilight and season of our administration, we pray that Almighty God would continue to use us as instrument of peace, instrument of progress and prosperity for our people. “And He will enable us to finish well and strong in the service of Almighty and to the benefit of our people and will give us the enablement to ensure that the goods that this government have been doing continues through the successor He will ordain to ensure that the gains are deepen and the gaps are covered.” He attributed his successes to the privilege of God, noting that whatever he became today was not because he was the best in his generation, family or community but because of God’s grace. The Governor, who prayed for strength to finish well and strong, also implored God to ordain for the state, a successor that would consolidate on the various development projects and programmes initiated by his administration

for the benefit of the people. The Vicar General, Catholic Diocese of Ekiti State, Rev. Fr., Odesami Adewusi, in his short sermon, charged the governor to look unto God for guidance and inspiration on his political endeavour. “If you are to take a review of your life at 57, it should be the one filled with confidence and hope to embrace the future. Your life has not been a waste; God has blessed you and through you, blessed others. At this stage, you have to look up to God for direction to continue to be of good use in the hands of God. Don’t be men pleaser. “We are in a very difficult time in our country. We need people that can use whatever opportunity they have to serve the people and God. Do not seek to please men; God called you to live your life for Him,” he said. Meanwhile, President Muhammadu Buhari and a presidential hopeful, Asiwaju Bola Tinubu, have celebrated with Fayemi on the occasion of his 57th birthday. The President, in a release by his

spokesman, Mallam Garba Shehu, described Fayemi as a good friend and an active party member and wished him many more years in the service of his community and the nation. “Ekiti is lucky to have a leader like Governor Fayemi. In his last and final year as second term governor, he has brought the state back to its glory, culture and values," the president said, even as he sent a birthday message to a foremost political mobilizer and former Deputy National Women Leader of the ruling All Progressives Congress (APC), Kemi Nelson. He said Nigeria took pride in the many accomplishments of the women, adding: "It is our party’s honour to have leaders such as Kemi Nelson in our midst." On his part, Tinubu, in a statement by his Media Office and signed by Mr. Tunde Rahman, prayed that God would grant Fayemi many more years in good health and vigour. "Warm congratulations to Ekiti State Governor, Dr. Kayode Fayemi, as he turns 57. A progressive and

2023: PDP Waiting Eagerly to End APC's Misrule, Says Wike Brokers peace between Jang, Useni Seriki Adinoyi in Jos and Blessing Ibunge in Port Harcourt Rivers State Governor, Nyesom Wike, yesterday, lamented the high level of poverty and insecurity in Nigeria under the All Progressives Congress (APC) administration, and noted that the Peoples Democratic Party (PDP) that was waiting to end the current misrule could not afford to disappoint Nigerians, who were groaning under the government. He, who said with the current challenges facing the country, Nigerians were tired of the APC, and would not be happy with the PDP if it failed to reclaim power from the ruling party in 2023, also reconciled the immediate past governor of Plateau State, Jonah Jang and Senator Jeremiah Useni over a long nursed animosity. Wike, who was at the State High Court to witness Jang’s trial, said he was in Plateau on a reconciliatory mission among the party leaders in the state particularly, that between Useni group and Jang’s groups.

According to him, "Nigerians are waiting for the PDP, because Nigeria is bleeding. Plateau State is not in exception from the bleeding that is going on in Nigeria. It is not about Muslim or Christian. It is not about the South or the North. "The hardship, poverty and insecurity are everywhere and the only hope Nigerians have today is on PDP. So, it requires the collective efforts of everyone to know that if we don't work as a team to reclaim power from the APC, Nigerians won't be happy and that is the job.” However, during the reconciliation meeting, which took place at Useni’s residence, Wike explained that his visit was necessitated by friction that had existed between the two leaders, saying if it was not urgently resolved, it would affect the success of the party in future. “I do know that there will be byelection at the federal constituency and state constituency, and then again, we are talking about the gubernatorial and national election

next year. If the party is not united, no matter how bad APC is, there is no way we can win. “And so, for me personal sacrifices can be made if you've fought wars for this country for the unity of Nigeria and today, Nigeria is bleeding, not only Nigeria is bleeding, Plateau too is bleeding. I have no apology to say the people of Plateau State are waiting for you both to put the party together and then you will just take back Plateau State. Plateau state is a natural PDP state. “There are disagreements everywhere. There are disagreements in the party, both at the state and national level. So, it is not a question of I am right. It is not a question of Jang is right, you are wrong or you are right, Jang is wrong. It is a question of, for whatever it takes, can we please, in the name of God, leave our personal interests and make our party move forward.” He, therefore, implored both Jang and Useni to make personal sac-

rifices to move the party forward, not only in Plateau State, but in Nigeria at large. Speaking, Jang, thanked Wike for visiting Jos to broker peace between him and Useni and disclosed that because of Wike’s intervention, he and Useni had agreed to work together in the interest of the party. His words: “We have agreed to work together to ensure the unity of PDP on the Plateau and ensure victory in 2023 election, not only governorship, all other elections, federal or state. We want PDP to take its rightful position again on the Plateau and this is what we are going to work on. We want to thank His Excellency for coming to talk to us and we have agreed that we will continue from here.” On his part, Useni also commended Wike for finding time to come to Jos on a reconciliatory visit, and assured the governor that both of them would henceforth forge a common alliance in the interest of the party.

leader in our All Progressives Congress, this birthday has again come at a time the governor is engaged serving our people. As he rounds off his governorship

tenure in the state, I pray that God Almighty grants him many more years, good health and renewed vigour. I wish Governor Fayemi a most memorable 57th birthday."

ADULTERATED FUEL: KYARI NAMES MRS, EMADEBCONSORTIUM, OANDO, DUKE OIL AS CULPRITS Meanwhile, Chief Executive Officer of NMDPRA, Farouk Ahmed, yesterday stated that NNPC had received delivery of 300 million litres of petrol to close the supply gap created in the country by the withdrawal of the off-spec petrol. Speaking in Lagos, when he met with marketers in a bid to raise distribution and remove the substandard fuel from supply chain, Ahmed said the 300 million litres arrived through six vessels ordered by NNPC. He noted that with the latest delivery, the fuel queues being witnessed in the country should disappear by Friday. Ahmed said, “Today, I am happy to say that loading has been going on in most of the depots because we have been able to identify, isolate and quarantine the limited amount of gasoline that was affected by the methanol volume that was discovered. “We have vessels that have arrived in the country recently. At least six arrived in the last few days, ordered by the NNPC, carrying a total volume of close to 300 million litres, just to close the gap created by those vessels we have withdrawn from the system.” In addition, Ahmed disclosed that there was a 9,000-metric tonne vessel that was being discharged at the Apapa Port to major marketers, including OVH, TotalEnergies, 11 Plc, Conoil, and Ardova Plc. According to him, as soon as the vessels complete discharging and start pushing products to oil marketers, the fuel queues in Lagos should fully disappear by Friday. “So, once these vessels complete discharging and start pushing the products to marketers, I believe Lagos will be cleared by Friday,” Ahmed stated. He added, “We have got that assurance from the marketers. Also, most of these vessels will be providing volumes to most of the key members of DAPPMAN.” But the NMDPRA boss stated that the country currently had petrol that could last for 20 days, 10 days short of the usual 30-day reserve. He said, “Our ideal days of sufficiency is 30 but this happened

because of the concern that made us withdraw the vessels, which created the gap in our 30 days sufficiency. “Again, with aggressive importation by the NNPC, this will be closed in a few days, according to the data we got from the NNPC’s import programme. “Loading is also on-going in most of the depots that have confirmed spec products; so, there is no need for panic. Hopefully, by tomorrow, Lagos will be cleared.” The regulatory agency said it was also working to address the challenge thrown up by the importation of substandard petrol into the country. Other attendees at the meeting included top officials of NNPC, Major Oil Marketers Association of Nigeria (MOMAN), and members of the Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

FG Orders Investigation

Briefing newsmen at Abuja, after the weekly virtual Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, Minister of State for Petroleum Resources, Timipre Sylva, said government had initiated moves to investigate the supply and circulation of adulterated petrol in the country. Sylva said the federal government wanted to get to the root of the matter, and warned against hasty conclusions. "I didn't expect you to draw any conclusions yet,” the former Bayelsa State governor said. “There will be a major investigation to unravel everything and then let us really get to the bottom of it before we can come back and tell you what is going to happen to the culprits," he added. The minister assured that the government would consider compensating those who might have been adversely affected by the bad fuel. "We know that some people's vehicles must have also been damaged, that is also going to be taken into consideration in dealing Continued on page 44

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

NAVY SIGNS MOU WITH UNILAG... L-R: Vice Chancellor, University of Lagos, Prof. Oluwatosin Ogundipe; Chief Hydrographer, Nigerian Navy, Rear Admiral, Chukwuemeka Okafor and Director, Legal Service, Nigerian Navy, Commodore, Jemila Abubakar, during PHOTO: ENOCK REUBEN the signing of Memorandum of Understanding on Hydrographic Survey partnership between the Nigerian Navy and University of Lagos at Naval headquarters in Abuja ... yesterday

UN: North-east Needs $1.1bn Humanitarian Assistance in 2022 Leaders demand new leadership, back TNA

Michael Olugbode in Abuja and Segun Awofadeji in Bauchi The United Nations says $1.1 billion will be needed in 2022 to undertake humanitarian assistance in the Boko Haram-ravaged North-East. The UN, which revealed that an estimated 8.4 million people would require humanitarian assistance in the region in 2022, lamented that at least 2.2 million persons had been displaced in the last 12 years. Speaking on Wednesday during the launch of the Nigeria Humanitarian Response Plan 2022, the UN Resident and Humanitarian Coordinator for Nigeria, Matthias Schmale, stated that the conflict in Borno, Adamawa and Yobe had evolved into an alarming

humanitarian and protection crisis, disproportionately affecting women and girls. Schmale said $1.1 billion was needed to provide critical aid and services to 5.5 million people most affected by the crisis. “For many women, men, boys and girls, the profound impact of conflict in north-east Nigeria continues to be felt painfully,” he said. “Although we have last year seen some hopeful developments, many people have still started out 2022 in survival mode.” While disclosing that $700 million was realised from the targeted $1 billion, Schmale said should the $1.1 million target for 2022 not be met, the humanitarian assistance would be further trimmed.

“Millions of people struggle to have their basic needs met, and the fluctuating food prices have further destabilised the already alarming food security situation," stated the Minister of Humanitarian Affairs, Disaster Management, and Social Development, Hajiya Sadiya Umar Farouq. "Thousands of children are at risk of becoming severely malnourished, especially during the lean season, which will have a detrimental effect on their future development.” She added that operationalising the humanitarian-developmentpeace nexus was key to meeting immediate and longer-term needs, pointing out that "as we work with the UN and its partners to build the capacity of partners in affected

communities, we are focusing on local solutions to local problems.” In a recent visit to Borno, UN Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, Mr. Martin Griffiths, explained: “Here, about 70,000 people live in a camp built for 25,000 people — 70,000 people — none of whom know the day when they will be able to go home.” In the new 2022-2023 multi-year strategy, the humanitarian community will prioritise life-saving needs while also working to reduce vulnerabilities through efforts to build resilience and enhance self-reliance. Meanwhile, North-East leaders on Wednesday called for new leader-

House Declares National Emergency on Ritual Killings, Urges IG to Apprehend Perpetrators Udora Orizu in Abuja The House of Representatives has declared a national emergency on ritual killings in the country and also called on the National Orientation Agency, parents, heads of schools, religious leaders and media to undertake a campaign to change the negative narrative that was already bedeviling the society. The House also called on the Inspector General of Police, Usman Alkali Baba, to take urgent steps to increase surveillance and intelligence gathering with a view to apprehending and prosecuting all perpetrators of ritual killings in Nigeria. Importantly, it called on the Executive Director, National Film and Video Censors Board to rise to the mandate of the agency as the clearing house for all movies produced in the country. The resolutions of the lawmakers followed the adoption of a motion of urgent public importance sponsored by the Deputy Minority Leader, Hon. Toby Okechukwu at the plenary, yesterday. Moving the motion, Okechukwu lamented that cases of ritual killings had assumed

an alarming rate in Nigeria in recent times. He noted the upsurge of reported ritual killings with increasing cases of abductions and missing persons in different parts of the country, which in most cases, the culprits also rape, maim, kill and obtain sensitive body parts of unsuspecting victims for rituals. He said the House was aware that ritual killings had become a predominant theme in most home made movies, which if not checked, the younger generation might begin to view as an acceptable norm. The deputy minority leader recalled the grievous killing of Iniobong Umoren, a young woman in her 20s, after being lured to a particular location in Uyo, Akwa Ibom State for a job interview, as widely reported in the national dailies. He expressed concerns over the moral decadence in the society, a trend he said has promoted the get-rich-quick syndrome among youths. While pointing out that fake clerics, imams, herbalists and native doctors were often complicit in the heinous practices, he further expressed concerns that although communities were getting more

religious with the proliferation of churches and mosques, the ugly trend of ritual killing was on the rise as the quest for wealth at all cost has pervaded the society. He advised that such cruel and barbaric acts should no longer be promoted in the society given the demands of today’s world, adding that there was a lot to be

done by the Police and other law enforcement agencies to checkmate this ugly trend. Adopting the motion, the House mandated its Committees on Police Affairs, Information, National Orientation, Ethics and Values to ensure compliance and report back to the House within four weeks for legislative action.

ship that will ensure inclusiveness and transparency in government. The call came at the formal launch of The Nigeria Agenda (TNA) in Bauchi. One of the leaders, Alhaji Yerima Aliyu Giade, stressed the need for leaders with exceptional character and skills as critical to Nigeria's development. "We want continuity and a person with a good agenda, so the project is timely. We want an agenda with an actor who is serious," said Giade. In her remarks, North-East Zonal Coordinator of the Patriotic Coalition, Mrs. Naomi John, said women have a role to play in the Nigerian Agenda because they are in the majority, also stressing that they are the worst-hit during a crisis. She said TNA would create awareness among Nigerians on the choice of credible and accountable leadership. Also speaking, former Commissioner for Information in Adamawa, Alhaji Ahmad Sajoh, the TNA convener, reiterated that Nigeria leaders could address worsening insecurity plaguing the country. In a similar vein, another member of the group, Ahmed Sajoh, likened leadership to a football team that must have a coach and a captain who give directions as to how the team will play. "if the coach is bad, the team will play badly. So, we need to have leaders who know what to do at the appropriate time," he explained.

Sajoh commended the North-East coordinators for their resilience and steadfastness in promoting the TNA across Adamawa, Taraba, Gombe, Borno, Yobe and Bauchi. According to Alhaji Umar Sade, former Commissioner for Information and TNA coordinator in Bauchi, Nigeria needs leadership development systems. "It is incumbent on Nigerian leaders to understand how cultural differences affect the development and progress of the country." Mr ‘Niyi Akinsiju, Chief Advocate of TNA, stressed that Nigerians should be awakened to the need to "emplace leadership" that will ensure transparency in government and integrity in the business of governance. "What Nigeria needs is a committed, dedicated, responsible and selfless leader like the first and only prime minister of Nigeria, (the) late Sir Abubakar Tafawa Balewa, who gave his all for the good of the country," said Akinsiju. He, however, lamented that "nothing has changed since the first coup that claimed the precious lives of the best leaders ever produced" in the country. "We need to get back to those good years of good leadership," he added. He assured that TNA was committed to ensuring that the country's next leadership does better than the incumbent.

ADULTERATED FUEL: KYARI NAMES MRS, EMADEB-CONSORTIUM, OANDO, DUKE OIL AS CULPRITS

with the situation," he stated. Asked whether the issue was discussed at the FEC meeting and whether the suppliers would be punished, Sylva said, "The issue did not come up in council, but, of course, you will recall I was here yesterday to brief Mr. President on the issue. I'm not in a position to disclose the identities of the companies, but there are some issues and we are actively tackling it. "Nobody has, before now, checked for methanol in our fuel, it's not very usual and this is the first time this is happening and the NNPC is up to the task. "I will also convey your question to the NNPC and maybe the Midstream and Downstream Regulatory Authority, but we are actively handling it and I want to assure you that the problem will

be a thing of the past very soon." MRS had in a newspaper advertorial yesterday said Duke Oil supplied a cargo of the adulterated petrol, which it purchased from an international trader, Litasco, and delivered with Motor Tanker (MT) Nord Gainer. MRS further stated the vessel was discharged in Apapa, Lagos, between January 24 and 30, 2022, explaining that major marketers received the following quantities: OVH - 10,000mt; MRS - 5,000mt; NIPCO - 5,958mt; ARDOVA 6,000mt; and TOTAL - 10,000mt Sylva also spoke on the approval granted to his ministry by the council, saying FEC okayed the contract for the construction of the 17-storey local content building in Yenagoa at the cost of N1.817 billion. He explained, "You will recall that in 2020, Mr. President already

commissioned that project. There were some ancillary works that had to be done to connect some of the buildings and that was now presented to council for the sum of N1.817 billion and this now closes out this contract and we have told the contractor. This is the full and final payment for everything. "So, this is the end of this project and we have completely delivered this to Nigerians." Meanwhile, Independent Petroleum Marketers Association of Nigeria (IPMAN) engaged the services of the Association of Distributors and Transporters of Petroleum Products (ADITOP) to ensure uninterrupted distribution of petroleum products and maintain sanity in the downstream sector of the oil and gas industry. IPMAN President, Mr. Chinedu

Okoronkwo, who disclosed this to journalists yesterday said the strategy would weaken the threat by the National Association of Transport Owners (NARTO), which recently issued a threat to embark on industrial action. Okoronkwo said IPMAN was not part of any trade association and would not embark on industrial action to further compound the predicament faced by Nigerians. He said members were already heavily indebted to banks and could not afford to stagnate their businesses, adding that already, many have shut down operations as a result of harsh operating environment. The president said IPMAN was ready to confront the excesses of the NARTO and Petroleum Tanker Drivers (PTD), who he alleged illegally fleeced marketers.

THURSDAY FEBRUARY 10, 2022˾ T H I S D AY

NEWS

House Steps Down Bill Seeking to Stop Medical Practitioners from Strike Proposes legislation against medical trips for public ofﬁcials

Udora Orizu in Abuja The House of Representatives at plenary yesterday, stepped down a bill seeking an amendment to the trade disputes Act, 2004, that sought to prohibit strike action by medical practitioners. The proposed legislation titled: “A Bill for an Act to Amend the Trade Disputes Act, Cap. T8, Laws of the Federation of Nigeria, 2004 to Prohibit Medical Practitioners in the Employment of Federal, State and Local Governments (as Employees in the Essential Service Sector) from embarking on Strike and to Accelerate Administrative and Judicial proceedings in the Determination of Trade Disputes involving them; and for Related Matters,” was sponsored by Hon. Simon Atigwe (PDP, Enugu). In his debate, Atigwe based his decision for seeking amendment to the Act on personal experience, lamenting that he had lost a lot of loved ones due to doctors’ industrial action. According to him, “My

amendment is out of experience, I have lost so many of my loved ones through strike by medical doctors. I feel that if we can checkmate

them then we can save lives. We are not saying they will be forced to work; the law is providing procedures on how their issues should be

handled.” Raising a point of order, Hon. Iduma Ghariwey made reference to Section 34, Subsection (1c) of the constitution

which provides that: ‘o person shall be required to perform forced or compulsory labour.’ Corroborating, the lawmaker’s assertion, the

Deputy Speaker Hon. Idris Wase who presided over the session, informed Atigwe that he can’t make a law that would be above the constitution.

SET FOR EKITI ELECTION…

The Governorship Candidate of the Action Democratic Party (ADP) in the forthcoming Ekiti State election, Mrs. Kemi Elebute-Halle(left) and National Chairman of the party, Yabagi Yusuf Sanni when she was presented with the party’s flag in Abuja…recently

House Committee to Probe Journalists Appeal to Abiodun over Threat Industrial Training Fund to Life at Arepo Estate Juliet Akoje inAbuja

The House of Representatives Public Accounts Committee (PAC) has summoned the Acting Director General of the Industrial Training Fund (ITF), Mrs. Adesola Taiwo over the operation of the agency’s budgets from 2018 to 2021, without the approval of the National Assembly. The Committee which is Chaired by Hon. Busayo Oluwole Oke said it would commence immediate probe into the strange discovery and has directed the Clerk of the Committee to write a formal letter to the Clerk of the National Assembly and the Clerk of the House of

Representatives to demand for evidence of the conveyance of the Agency’s Annual Budget in the years under review from the Presidency to the National Assembly. The Committee promised to uncover the circumstance surrounding the operation of the unapproved budgets by the Agency contrary to section 81 of the 1999 Constitution of the Federal Republic of Nigeria (as ammended) which empowers the President to convey the annual budgets of Ministries, Departments and Agencies of the Federal Government to the National Assembly every fiscal year for approval.

(WKQLF 'L;HUHQFHV 0XVWQ·W 7HDU 'HOWDQV $SDUW *URXS 6D\V Omon-Julius Onabu inAsaba A political pressure group, ‘Deltan Lives Matter’, has appealed to all stakeholders to eschew damaging division along ethnic lines on account of the 2023 governorship election in the state, saying a roundtable approach would resolve the seemingly vexed issue of zoning. Global Coordinator of the group, Mr Moses Abeh, speaking in Asaba, therefore, called for convocation of a conference of ethnic nationalities in Delta State especially on the thorny issue of zoning of the governorship

position. He argued that that leaving the matter to constitutional dictates alone was not enough as every senatorial district in the state has equal stake regarding the governorship position in 2023, including Delta North, which produced the incumbent in the person of Dr Ifeanyi Okowa. “A conference of ethnic nationalities in the state would allow for robust discussion so as to prevent unnecessary bickering and heating up of the system, “he observed.

Unilorin ASUU Begins Work-free Day Ahead of National Strike Action Hammed Shittu in Ilorin Academic Staff Union of Nigerian Universities(ASUU) University of Ilorin branch have commenced a work-free day for the members of the union ahead of full blown commencement of the nationwide strike action. However, a visit of our correspondent to the campus of the University yesterday showed the absence of lecturers at the classes.

The development has affected the ongoing second semester examinations of the school. In a statement issued in Ilorin signed by the ASUU Unilorin branch, Professor Moyosore Ajao and Secretary, Professor A.G Olatunji stated that, the development became imperative in view of the negative attitude of the Federal government on the agreements reached with the ASUU.

BennettOghifo Residents of Journalists Estate Phase One Arepo, Ogun State have appealed to the state governor, Prince Dapo Abiodun to wade into the tiff they are having with residents of neighbouring Beachland Estate over an arc that serves as the journalists estate’s security outpost. The journalists, under the auspices of Journalists’ Estate Residents Development Association (hereafter referred to as JERDA Phase 1), sent a petition yesterday to the governor, titled “Unlawful invasion, criminal destruction to property and persistent threat to lives and property, by residents and leadership of Beachland Estate Residents Association (BERA), Arepo, led by Emmanuel Akudinobi and the Olu of Arepo, Oba Atanda Oyebi and his chiefs.” The petition, signed by the Chairman JERDAPhase 1, Olufunke Fadugba and the General Secretary, Toye Olori had in copy the Ogun State Commissioners for Works;

Physical Planning; Local Government and Chieftaincy Affairs; Ogun State Police Commissioner; Ogun State Director of State Security; HE Aremo Olusegun Osoba; the Chairman Obafemi Owode Local Government; DPO Warewa Police Station; and President, Nigeria Union of Journalists, Abuja. The journalists said “On Tuesday, February 8, 2022, over 50 BERA residents, led by one Mr. Emmanuel Akudinobi, including some chiefs from the palace of the Olu of Arepo, invaded our estate and destroyed our entrance arc, located at the point of security access into our estate. After an initial discussion to prevent the destruction, it was jointly agreed to meet with the traditional ruler later in the day to discuss the issues and resolve the matter amicably. “However, after a while, thugs, armed with cudgels, in company of some chiefs and the said Emmanuel Akudinobi, came back from the palace of the Olu of Arepo, where they boasted to have received an

order to destroy the arc installed by JERDA Phase 1 with millions of Naira belonging to our members. “They first set about the arc with axes and diggers, to weaken the foundation and seeing that it was not bulging, they then drove an Ayab Truck over it to bring it down violently. The steel arc is a new one in replacement of the initial one that gave way for the road construction currently going on. “The replacement of the arc was after due approval from the State Ministry of Works and under its thorough engineering supervision. It took a strong restraint of JERDA members and some elders in the estate, for the invasion not to degenerate into full blown skirmish.” They said the new arc was installed on Tuesday, February 7, 2022, with due notice to relevant authorities, including the Police at Warewa Police station and the Ogun State Ministry of Works, as well as the Ministry of Physical Planning. The approved installation

was witnessed by an Ogun State Ministry of Works assigned engineer and inspected later by senior officials from the state government and it was confirmed that they followed due process and specifications as approved by the state. “However, the chiefs, who accompanied the crowd of thugs, openly boasted to us that the Olu of Arepo gave BERA members and his chiefs the directive that the arc should be destroyed. The reason given, among others, was that we did not pay “homage” to the palace, before erecting the arc and that no other authority can override that of the Olu of Arepo. “The estate arc has been at this landmark point since the inauguration of the estate in 2003 and delineates the allocated perimeter approved by the Ogun State Government. The location of the arc also serves as a security outpost for the estate and has been instrumental in warding off security threats not only to our estate but also to members of BERA.”

Rise in Aviation Fuel Price ‘ll Trigger Increase in Airfares, Airlines Warn Chinedu Eze Airline operators in Nigeria have raised the alarm over the skyrocketing price of aviation fuel by over 100 per cent to N400 per litre within a year and warned that it would lead to increase in the price of tickets in order to sustain their operations. The operators lamented they are in a precarious

situation because as the price of aviation fuel is increasing so is the exchange rate, which the airlines depend on for over 90 per cent of aircraft services, from aircraft maintenance, acquisition of spares, insurance, training and leasing. The domestic operators, therefore, called on the federal government for urgent intervention on forex and also

to look into the provision of modern facilities at the airports, especially airfield lighting on the runways so that flights could operate into the night. Speaking with aviation correspondents yesterday at the Murtala Muhammed International Airport (MMIA), Lagos, the Chairman, United Nigeria Airlines (UNA), Dr. Obiora Okonkwo, bemoaned

the sudden rise in the price of Jet A1 (aviation fuel) in the last one year, saying it has had a negative impact on the operations of airlines in the country. According to him, when UNA commenced flight services on February 12, 2021, the price of aviation fuel was just N190 per litre, but regretted that the price has jumped to N400 per litre within a year.

Confusion Trails Siting of Law School in Ekiti, as Monarchs Lobby Senate Victor Ogunje in Ado Ekiti Confusion has begun to trail the announcement made by the Senate on Tuesday over the siting of a branch of Law Scwhool in Ekiti State, thereby creating apprehension between two towns mentioned as host communities.

This development has created a misunderstanding between the Alawe of Ilawe, Oba Ajibade Alabi and the Olufaki, Oba Adeoya as the duo are laying claim to hosting right despite the fact hat the passed bill is awaiting presidential assent . The Senate, had on Tuesday passed a bill craving for the establishment of six more branches

of the Law School across the six geopolitical zones of the country, with that of the South-west approved to be sited in Ekiti. When the bill was being passed, the Senate President,Senator Ahmad Lawan, announced Ifaki Ekiti in Ido/ Osi Local Government Area of the state as the host community for the

branch approved for Ekiti. But at a press conference later addressed by the sponsor of the bill and Senator representing Kogi West, Senator Smart Adeyemi, he was said to have countered the earlier pronouncement and announced Ilawe Ekiti , in Ekiti South-west as the host town for the branch.

THURSDAY FEBRUARY 10, 2022 ˾ T H I S D AY

NEWSXTRA

Hanifa’s Murder: Aisha Buhari Wants Punitive Measures Taken against Perpetrators I will not waste time to sign his death penalty, says Ganduje Ibrahim Shuaibu in Kano The wife of Nigeria’s president Aisha Buhari has called on the Kano state authorities to ensure that the perpetrators of the murder of Hanifa Abubakar are punished severely to serve as deterrent to others. Mrs Buhari stated these to reporters yesterday in Kano, where she was on a condolence visit to the government and people of the state. She expressed fear that if teachers could engage in such malicious acts then the society is in trouble. “I also want to condole the Governor, his wife and the entire people of Kano on the sad loss of Hanifa Abubakar. I am aware that the governor has taken the right measures in ensuring that no stone is left unturned. “We hope the right punishment will be netted on the perpetrators of the unfortunate murder. “This is a very serious situation. We send our children to school and entrust their lives and welfare with the teachers. If these unfortunate incidences can emanate from the teachers

then then our society is not safe. “Therefore severe punitive measures should be taken on the perpetrators to avoid any future occurrences” Aisha Buhari stated.

Mrs Buhari also stated that she was in the state to condole the family of the late Islamic scholar Dr Ahmad Bamba and prayed for his soul to rest in perfect

peace. “I am in Kano for a private visit to condole the Kano state governor, the Emir of Kano and the family of Sheikh Ahmad

Bamba, may his soul rest in perfect peace. It is indeed a great loss to the state” she stated. In his remarks, Kano state Governor, Abdullahi Umar

Ganduje has reiterated that he will not waste time assenting to the death warrant of Abdulmalik Tanko if it is brought before him.

CONSULTATIONS CONTINUE…

Peoples Democratic Party (PDP) Governorship aspirant in Gombe State and former Chief Executive at Sun Trust Bank, Mr. Jibrin Muhammad Barde (left) and former Governor of Gombe State, His Excellency, Dr. Ibrahim Hassan Dankwambo when Barde led a delegation to visit the former governor in Abuja…recently

Terrorists Kill Seven in Yet ‘Gov Emmanuel’s Endorsement of Successor Undemocratic’ Another Attack on Kaduna Okon Bassey in Uyo

John Shiklam in Kaduna

Seven people have been reportedly killed in yet another attack by terrorists on three communities in Zangon Kataf Local Government Area of state. Three houses were also said to have been burnt by the terrorists Sources said the incident occurred on Tuesday night. The affected communities are: Sabon Kaura, Zaman Dabo and Chibob. The terrorists were said to be well armed and operated in a

well-coordinated manner. “The terrorists were many, they came in a large number, they were shooting sporadically and setting many houses ablaze. “One person was burnt to death in Zaman Dabo community, three people were killed each in Chibob and Sabon Kaura villages. “The terrorists took advantage of the absence of soldiers who are usually at Ungwan Wakili checkpoint in the early hours of the day and destroyed the only bridge that linked the communities”, the source said.

Aregbesola-backed APC Faction in Osun Gives Conditions for Reconciliation Yinka Kolawole in Osogbo The Factional Chairman of the All Progressives Congress (APC) in Osun State, Hon Rasaki Salinsile, has said members of The Osun Progressives (TOP) are ready for reconciliation provided their grievances are met by the Ilerioluwa led group. Salinsile, who also boasted that the TOP members are the real progressives, added that they were rooted in the state especially in all the local

government areas of the state to pull Governor Gboyega Oyetola out of the office. He made these known while fielding questions from journalists in Osogbo, Osun State capital. Salinsile said: “We are ready for reconciliation provided our grievances are met. “There must be equitable distribution of offices between and among the units of the state because there is no justice and fairness in all positions.

Pension Reform: Senate Proposes 75% Lump Sum Payment to Retirees Sunday Aborisade in Abuja

The Senate on Wednesday proposed the payment of 75 per cent to retirees as lump sum upon attainment of retirement age. The red chamber took the decision when it considered a bill seeking to bring respite to distressed Nigerian retirees. The Act signed in to law in 2004 and amended in 2014, currently empowered the Pension Commission and the funds administrators to pay 25 per cent lump sum to retirees

before calculating the amount to pay them on monthly basis as pension, from the remaining 75 per cent. The bill which passed second reading was tagged “Pension Reform Act 2014 (Amendment), 2022.” The proposed legislation was sponsored by Senator Aliyu Wamakko (Sokoto North). Wamakko said the bill sought to amend the Pension Reform Act 2014, to provide for a definite and reasonable percentage a retiree can withdraw from his/ her retirement savings accounts.

The Director General (DG) of Bassey Albert Gubernatorial Campaign Organisation, Bishop Andrew Unwanta has said that the action of Akwa Ibom State Governor, Udom Emmanuel, to announce his preferred successor come 2023 was undemocratic and should be condemned by democrats. Unwanta told Journalists in Uyo yesterday that such

public show of support was immature and unhealthy and would not make for a level playing field for other aspirants. The DG said the national executive of the party would not be happy with such a development because the recipient of such endorsement would always receive the backing of the state and would have access to enornous funding from such government.

Unwanta said notwithstanding, other aspirants would go on with their campaigns while the party’s candidate would be decided at the primary by members of the party. “I don’t think any party member is happy with him even at the national level. No leader does that. Party candidates are not picked, they are selected when all the people accept a particular

person. “So, what the governor has done is very wrong. You could express body language and everybody will understand. It’s not like the party is his own in party. In party politics it is important to have as many people as possible.” He said. Unwanta said the campaign council of Senator Akpan have remained calm and would continue with their consultations across the state.

Ugwuanyi Urges MDAs to Restrategise on Meeting Revenue Targets Enugu State Governor, Mr. Ifeanyi Ugwuanyi has enjoined ministries, departments and agencies (MDAs) to raise their performance bar and re-strategise on meeting their revenue targets as contained in the approved 2022 budget of the state. Ugwuanyi also urged the MDAs to set up monitoring mechanisms that would track

all revenue generated by them towards the actualisation of their targets. Speaking while declaring open a one-day summit on achieving Enugu State Internally Generated Revenue (IGR) target for 2022 Fiscal year, held at Enugu on Tuesday, a statement yesterday quoted the governor to have canvassed the establishment of an annual revenue index

of every MDA in the state. Represented by the Secretary to the State Government, Prof. Simon Uchenna Ortuanya, Ugwuanyi was said to have stressed the importance of the summit to identify the challenges faced by poorly performing MDAs and deliberate on ways to improve on their activities with a view to meeting the 2022 revenue target for funding of

the budget. Stressing the state government’s determination towards growing its IGR to create a socio-economic system not so dependent on federal allocation, Ugwuanyi disclosed that his administration had grown the state’s IGR by 50 per cent without any increased tax burden on the people or businesses.

Court Remands BDC Operator in Custody over $950,000 Fraud David-Chyddy Eleke in Awka A federal High Court sitting in Awka and presided over by Justice Nnamdi Dimgba has remanded in prison custody a Bureau De Change (BDC) operator, Chibueze Ojeh over allegation of $950,000 fraud. Ojeh will stay in prison, pending the perfection of his bail conditions. He was arraigned yesterday for obtaining money

through fraudulent means from a businessman. Also granted bail and released to their lawyers after perfecting other bail conditions were two other ex-bankers - Obinna Nwosu and Emeka Njoku, who were also involved in the matter. The trio had a case of advanced fee fraud, conspiracy to commit felony and obtaining by false pretence preferred against them, and some companies by

the Inspector General of Police. In the matter, with Charge No FHC/AWK/ C/25/2020, Simon Lough, Prosecuting Counsel, from the Legal Prosecution Section, Police Headquarters Abuja through Augustine Oboh told the court that: “The three suspects, Chibueze Ojeh, Obinna Nwosu, Emeka Njoku, and the two companies, Castle Equipment & Logistic Limited and a commercial bank had

on between April 3, 2013 and June 31, 2013, in Lagos, within the jurisdiction of this court while acting in concert and with intent to defraud Chief Nnamdi Ezenwa MD/CEO of Vinna Investment Limited, conspired together to commit felony to wit: obtaining money to the sum of $950,000.00 (Nine Hundred and Fifty Thousand United States Dollars) from him.”

2023: Yoruba Group Urges South-west Politicians to Support South-east, South-south for President Ahead of the 2023 general election and for justice, fairness and equity, the Yoruba Stakeholders’ Summit Group (YSSG) has appealed to politicians in the South-west region to support presidential candidates South-south and South-east regions. Addressing a press conference

yesterday in Lagos, conveners of the group, Mr. Olufemi Lawson and Oladosu Rasaq, said if the South-west supports other regions in southern Nigeria, justice, equity, fairness and unity will be enthroned in the country. YSSG said: “We have observed with serious concern,

the open and silent demand and declaration by some politicians in southwest, jostling to succeed President Muhammadu Buhari;in 2023. Not only did we find this insensitive, but it is also self-serving and unjust. “Over the time, we have been at the forefront of the call for political parties in the country

to have their presidential ticket zoned to the southern part of the country. We are also of the strong opinion, and conviction, that some part of the southern Nigeria deserves the presidency more than the southwest, for the sake of equity and justice and for that cause we are here gathered.

THURSDAY, ͹͸˜ ͺ͸ͺͺ ˾ T H I S D AY

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

0811 181 3083 SMS ONLY

Ghana Appoint Addo, Hughton to Lead Black Stars against Eagles Duro Ikhazuagbe After weeks of going back and forth on who succeeds sacked Milovan Rajevac as Black Stars next manager, Ghana Football Association (GFA) yesterday confirmed the appointment of former Borussia Dortmund defender, Otto Addo, as Head Coach. Addo is to lead the Black Stars in the all important two-leg 2022 World Cup playoffs against Nigeria’s Super Eagles next month. According to the statement from the GFA, former Newcastle and Brighton manager, Chris Hughton has also been appointed to serve as technical advisor. Serbian Rajevac was sacked following Ghana’s embarrassing early exit from the Africa Cup of Nations finals in Cameroon last month. Barely 24 hours earlier, the Nigeria Football Federation (NFF) had similarly announced the retention of Augustine

Eguavoen as interim Technical Adviser, former Nigerian Under-17 World Cup winning coach, Emmanuel Amuneke was drafted to reinforce the team as Head Coach. The two west African rivals will meet at the Cape Coast Stadium on March 24 in the first leg of the playoffs with Abuja hosting the reverse fixture on March 27. The winner of the two-legged encounter will join the other four winners of the playoffs as Africa’s representatives at the World Cup in Qatar in December. Addo, 46, is an assistant coach at German Bundesliga club Borussia Dortmund, where he focuses on youth development. German-born but a former Ghana international, Addo played at Dortmund and Mainz 05 and has previously been on the coaching staff at Hamburg and Borussia Moenchengladbach. Addo will be assisted by

W O R L D C U P P L AYO F F S former Dutch international George Boateng, another with Ghanaian roots who is a youth

team coach at his former club Aston Villa, and Didi Dramani, who worked at FC Nordsjaelland

in Denmark. Hughton as technical advisor without specific role will also be part of the coaches to guide the Black Stars during the playoffs. Hughton went to the 1990

World Cup with Ireland in his playing days. Nigeria on Tuesday reversed a decision to appoint the Portuguese-born Jose Peseiro as replacement for Rohr.

Chelsea Deny Ighalo’s Al Hilal Ticket to Play in Final Lukaku’s lone strike sets up Blues versus Palmeiras final on Saturday FIFA CLUB WORLD CUP

Chelsea’s Kepa Arrizabalaga was voted Man-of-the-match in the FIFA Club World Cup second semi final clash with Saudi Arabia’s Al Hilal PHOTO: FIFA yesterday in UAE. Chelsea won 1-0 to reach the final. Odion Ighalo and his Saudi Arabian Al Hilal were denied a place in the final of the FIFA Club World Cup yesterday by Romelu Lukaku’s first half goal that set up the clash between Chelsea and Brazilian Palmeiras on Saturday. Chelsea edged past Al-Hilal with that 1-0 victory at the Mohamed bin Zayed Stadium in Abu Dhabi. The Blues will now look to lift the only trophy that has evaded them across Roman Abramovich's 19-year ownership of the club. Boss Thomas Tuchel missed the game as he was isolating after testing positive for Covid-19. Chelsea dominated from the start against the Saudi Arabian side, and their breakthrough came from Lukaku just after the half-hour mark. Kai Havertz's left-wing cross was inadvertently headed into the Belgian's path by Yasser Al Shahrani, and he rifled home from point-blank range.

It was Lukaku's ninth goal of the season and ended a six-game draught, after he missed a couple of opportunities earlier in the match. Two minutes after the break, Havertz burst through on goal and clipped the post from a tight angle, despite having Lukaku and Hakim Ziyech for support in the area. Asian Champions Al-Hilal barely threatened until Mohamed Kanno shot over from distance after combining well with former West Bromwich Albion midfielder Matheus Pereira. Chelsea keeper Kepa Arrizabalaga then denied Moussa Marega from eight yards out, while Odion Ighalo and Kanno saw shorts blocked as Chelsea struggled to put the game to bed. But the European Champions held on in the end and on Saturday will have the chance to avenge defeat in this competition a decade after their last appearance.

Addo (left) and Hughton... appointed to lead Ghana’s Black Stars against Nigeria

Obaseki Has Redefines Football Management with Insurance, Edo Queens, Says Shaibu Edo State Deputy Governor, Philip Shaibu, is elated that his principal, Governor Godwin Obaseki, has been able to achieve equal salary and emoluments for the state’s male and female football clubs, Bendel Insurance and Edo Queens. Shaibu Explained that the least paid player in both Bendel Insurance and Edo Queens earns more than N150, 000 a month aside other bonuses and allowances. The deputy governor insisted that only Edo State has been able to achieve equal pay for both men and women football teams. Speaking at the unveiling of Bendel Insurance and Edo Queens jerseys on Tuesday in Benin, Shaibu said: “Edo Queens and Bendel Insurance are the first clubs that will not be washing their jerseys after each match. From this season, every player will have two jerseys in each match. So, fans that come to watch the matches have the chance of taking jerseys home after the games. “The clubs are at par when it comes to salary. The least paid Insurance player earns N150,000, the same with Edo Queens players. Former USA President, Barrack Obama tried it, it didn’t work; Donald Trump tried it without success; and today Joe Biden is still battling with the issue of getting men and women players in the United States national team to earn equal pay. But Obaseki has done it,”enthused an obviously happy Shaibu. He continues: “Edo Queens are the first women’s team in Nigeria to fly to play away games. They fly to every venue that is more than four hours by road. “Edo Queens flew to Adamawa and won their game against Adamawa Quuens. They did the same thing in Calabar and came out victorious against Pelican

Stars. We are not just about owning clubs, we want to show Nigerians that things can be done in the best possible way,” he stressed of the new benchmark put in place by the Edo State government. Shaibu explained that the Obaseki administration, from inception, took youth and sports

development seriously. “When we were sworn in, the governor said we must redefine governance and also return sports to what it used to be in the days of Samuel Ogbemudia. “We started with facilities and now Edo has some of the best structures you can find in Nigeria.

For the first time in the history of football, we are here to unveil jerseys and shirt sponsors of these jerseys. “The sponsorship fee for Bendel Insurance’s jersey is N50 million. That is what Sterling Bank is paying to advertise its products on the jersey.

Zouma Fined £250,000, Risks Four-year Jail over Cruelty to Cat West Ham United have confirmed that Kurt Zouma has been fined two weeks' wages and that they are supporting the Royal Society for the Prevention of Cruelty to Animals (RSPCA) with their investigation into a video showing Kurt Zouma abusing a cat. The club stated that the fine - believed to be worth around £250,000 will be donated to animal welfare charities. Footage came to light on Monday of the France defender kicking his pet. Barely 24 hours later, Zouma was controversially started in West Ham's Premier League match against Watford. After Zouma's cats were seized by the RSPCA on Wednesday, West Ham confirmed in a statement that they are supporting the charity with their inquiries. "We can confirm that the Club is supporting an RSPCA investigation into the actions of Kurt Zouma in the video circulated online this week," the statement read. "Kurt and the Club are co-operating fully with the investigation and the

and, like everyone at the Club, fully understands the depth of feeling surrounding the incident and the need for action to be taken. Meanwhile, Zouma could face up to four years in prison in his native France for kicking and slapping the cat. A legal complaint has been filed against the 27-yearold in Paris, where there is widespread shock at the video showing the player attacking his pet at Kurt Zouma...ﬁned £250,000 and also risks his £2million Essex four-year jail term for cruelty to his cat. home. It led to lawyers player has willingly complied working for the 30 Million Friends with the steps taken in the initial Foundation (La Fondation 30 stage of the process, including Millions d’Amis), the largest delivering his family’s two cats animal rights group in France, to the RSPCA for assessment. contacting prosecutors. "Kurt is extremely remorseful

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Yemi Osinbajo to Supreme Court

“There is a real issue of whether the courts have not assumed a larger duty in election cases than was constitutionally intended. In other words, are our courts going beyond constitutional expectations in election cases? And it is important to emphasise this, because the whole idea of democracy is that the people determine who their leaders will be, the law, electoral processes – everything must bow to the will of the people”––The Vice President, expressing concerns about judicial interventions in election matters

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

Tinubu, Osinbajo, Sylva and Fuel Game M

otorists across the country are facing yet another harrowing experience as a result of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmation that adulterated fuel will be withdrawn from circulation. Aside the inconvenience of having to queue for long hours at filling stations, there are reports of vehicles whose engines have been damaged. But this is a familiar problem that is associated with the mismanagement of the downstream sector of the petroleum industry that we have been told will continue for as long as President Muhammadu Buhari remains in power. The current problem is related to a high methanol component, but we are also aware that subsidy merchants are adept at playing these games to cut corners at the expense of consumers. About a decade ago, Nigerians were served adulterated fuel oozing an awful odour. And in a series, ‘Highly Inflammable’ I did in 2004 (18 years ago) to highlight the danger of fuel subsidy, Mr Benson Uwatse, the Chief Executive of Mercedes Benz told me that the fuel needed for our vehicles should contain 92 Octane but what was being imported at the time contained 84 Octane because it was cheaper, even though fit only for farm implements. So, this is a perennial problem that will not be resolved until there is a more transparent regime in the downstream sector. However, of interest to me today is the extraordinary financial burden the country now bears on account of fuel subsidy payments. If there was any singular issue that the ruling All Progressives Congress (APC) used from 2012 to 2015 (when it was in opposition) to deal heavy blows to the administration of President Goodluck Jonathan, it was this same subsidy scam. Sadly, not only has this administration been worse in the mismanagement of the sector, but it has also created more incentives for corruption than its predecessors. To compound the problem, it has now cynically pushed any decision to the next administration, effectively wasting eight years and enormous resources on an issue it could have resolved with minimal cost in its first year in office. For an administration that came to power with a mandate to fight corruption, there could not have been a juicier low-hanging fruit than removal of subsidy. But it was also obvious that someone needed to make the president understand the distinction between subsidy for the poor and rent for middlemen. What we have had in Nigeria over the years is nothing more than a carefully orchestrated scam. Our policies were never well thought-out and so poorly implemented that the real beneficiaries remain the fuel merchants and their collaborators within government. Certainly not ordinary Nigerians. That explains why, in one year alone (2011), the huge sum of N1.7 trillion (more than US$10 billion using the prevailing exchange rate at the time) was essentially shared in the name of subsidy payments. Now, we are talking of subsidy in the region of N3 trillion, just for the consumption of a single item!

Timipre Sylva

That those tasked with making the president understand the danger we all face chose to play the ostrich is why we are now in a mess. I hope the campaigns leading to the 2023 election will be issue-based so that we can take many of the actors to task. One of those actors is Asiwaju Bola Ahmed Tinubu who declared his intention to run for president at the Villa. In a statement he personally signed on 20th May 2016, ‘Ending price fixing, the making of economic sense’, Tinubu said the country had for decades operated an opaque oil sector susceptible to manipulations and structured in a way that allowed only a few people to feed fat on the misery and frustration of Nigerians. “President Buhari, after carefully weighing the options, decided to do what is right. In an act of courage, he removed the oil subsidy, thereby freeing the downstream component of this strategic sector of the economy from the distortions of price fixing,” Tinubu wrote at a period the APC was still enjoying its honeymoon first year in office. A man with vast experience in the oil and gas sector where he rose to the position of Financial Controller at Mobil before joining politics, Tinubu told Nigerians who may not understand the subsidy regime: “The bogus supplier was paid for supplying nothing, while you sweated in long queues for fuel that was never there. The smuggler secreted fuel across the border, while our economy crossed the border into fuel scarcity…While the price of fuel was cheap on paper, these were the hidden costs that made the subsidy regime an expensive and heavy yoke that the nation could not continue…” Despite all the misleading statements by government operatives and some APC leaders, there was never removal of subsidy either in 2016 or at any period in the following years. Instead the federal government has allowed the Nigeria National Petroleum Corporation

(NNPC) to run the show in a manner that leaves little or no room for accountability. But I saw all this coming. “If the federal government believes that by effectively outsourcing its responsibility to NNPC it has resolved the problem in the downstream sector,” I wrote in 2016, “then we are in far bigger problem than many of us imagined. What it means is that this problem will be with us for a very long time.” At some point, Tinubu must have realised that no subsidy was removed. Now that he is seeking to preside over our affairs, we will put him to task on the issue. But Tinubu was not the only enabler on the issue. Vice President Yemi Osinbajo has, at different times, rationalised the choice made by the administration. On one occasion he said: “NNPC is trading in fuel; the federal government is not, at the moment, paying for any subsidy. NNPC is trading. If you are buying and selling fuel, you would have to be able to pay for it. So, it’s not a question of government provision for subsidy, the federal government, at the moment, isn’t paying any subsidy. And don’t forget that the way that the NNPC trades is that, in many cases, NNPC is actually giving fuel; there is 445,000 barrels of fuel. So really what you are seeing, in many cases, is more or less an exchange for PMS. So, at the moment NNPC is paying the cost”. This has always been the situation, even in years when nominal subsidy figures were included in the budget. But giving free reign to NNPC has been more counter-productive than budgeting for subsidy. It is not for nothing that governors of the 36 states are complaining about the way the Federation Account has effectively become the federal government account, or more appropriately, NNPC account—a clear infringement on the 1999 Constitution. Incidentally, it was Osinbajo who increased fuel price in 2016 when he was acting president and Tinubu has always been a market-oriented person. So, the president is the issue. I think he means well for the common people. But some smart Alecs are preying on that. The third person on my list for today is the Minister of State for Petroleum, Mr Timipre Sylva. Two weeks after foreclosing the removal of subsidy during the current administration, Sylva is now doing what APC operatives do best: reading from the book of Lamentations. “There have been efforts at controlling some of the smuggling. And then something dramatic happened. When we had the deregulation discussions, and the price moved up to N162 from N145 where I met it, we realised that the consumption dropped to less than 50 million litres or to 40 million,” Sylva sensationally confessed last week. “And sometimes, the figures you hear are crazy. I mean when they tell you 90 million litres a day, I mean, they’re crazy figures. We continue to interrogate these figures because we all know that there is a problem here, it is opaque. The opportunity, the premium is not coming to government, and it is not going to the poor people. It is going to a select people who are feeding fat on these things.” As a former Special Adviser to a Petroleum

Minister (Edmond Dakouru) before becoming the Governor of Bayelsa, Sylva is in familiar territory, so he knows what is going on. But what sort of government identifies a problem and continues to dither on solutions? For how long shall we continue to subside blatant fraud and waste? In March 2009, I wrote a piece, ‘Deregulation: If Not Now, When?’, first published in all newspapers but later turned into a pamphlet by the NNPC. I was of course a presidential spokesman at the time, so my piece captured all the shenanigans in subsidy payments. But my most extensive work on subsidy payments is the ‘The Verbatim Report: The Inside Story of the Fuel Subsidy Scam’. The 857-page report is on my web portal, olusegunadeniyi.com for free download. Most revealing is that top government officials and heads of critical institutions made shocking disclosures before the 2012 House of Representatives Ad Hoc Committee whose reports I published. Principal testimonies include that of the then Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala; then Minister of Petroleum Resources, Mrs Diezani Alison-Madueke; then Attorney General of the Federation, Mohammed Bello Adoke, SAN; two Central Bank of Nigeria (CBN) Deputy Governors at the time, (Dr Kingsley Moghalu and Mr Tunde Lemo); then Chair of the Federal Inland Revenue Service (FIRS), Mrs Ifueko Omougui-Okauru; then Director General, Budget Office of the Federation, Dr Bright Okogu; then Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Mr Elias Nban; and the then Group Managing Director of the Nigeria National Petroleum Commission (NNPC), Mr Austin Oniwon. Anybody who reads the report can come to only one conclusion: the most egregious state-sanctioned corruption in Nigeria is payment of fuel subsidy. But notwithstanding the absence of political will, the decision to remove it may soon be forced upon us (when there is no longer anything to share by the three tiers) in a manner that could be catastrophic for the national economy. As we therefore go through another round of fuel scarcity, albeit due to adulteration of imported products, we must come to terms with the fact that this problem will not go away until we are able to restore sanity in the downstream operations of the oil and gas sector. Meanwhile, it is possible that there were no subsidy payments at the time Tinubu and Osinbajo spoke because crude oil prices were down. But it was also evident that the federal government had merely been fixing prices. As things stand, NNPC has by default become the sole importer under a very opaque arrangement because there is no official/budgetary provision for subsidy. And some people (for their own interests) have convinced the president that deregulation will increase poverty and that they can manage the corruption if it is government doing the importation. That is how we ended up in this mess. If we are a serious country, fuel subsidy must be top on the agenda of issues for debate in the 2023 general election.

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