THURSDAY 15TH FEBRUARY 2024 by THISDAY Newspapers Ltd

Bayelsa to Immortalise Wigwe as Adeboye, Sanwo-Olu, Adeola, Adelusi-Adeluyi Visit Deceased's Parents Zimbabwean billionaire, Strive Masiyiwa, mourns late Access Holdings boss US agency releases photos of helicopter crash

Wale Igbintade

Governor of Bayelsa State, Senator

Douye Diri, has said his administration was considering immortalising the late Group Managing Director and

Chief Executive Officer of Access Holdings, Dr. Herbert Wigwe, for his contributions to the development

of the state. Speaking yesterday in Yenagoa, during the inauguration of sections two

and three of the 22-kilometre Yenagoa Outer Ring Road, Diri said he would consult with elders and stakeholders

in the state with a view to naming Continued on page 9

Dangote Refinery Exports First Cargo of 65,000 Metric Tonnes of Low-sulphur Fuel Oil... Page 34 Thursday 15 February, 2024 Vol 29. No 10536. Price: N400

www.thisdaylive.com TR

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FG's Tripartite Committee on Minimum Wage to Hold Next Meeting Monday... Page 9

Sanwo-Olu to UK: Consider Lagos Destination of Choice for Investments

Governor distributes N750m trader money to 15,000 beneficiaries Says initiative will stimulate economic activities in food markets We will work with Nigeria to reduce barriers to trade, says Badenoch Segun James Lagos State Governor, Mr. Babajide

Sanwo-Olu, yesterday, implored foreign investors, particularly the business community in the United

Kingdom to consider Lagos as a destination of choice for their investments.

Speaking yesterday, during a courtesy visit by the United Kingdom Secretary of State for

Business and Trade, Rt. Hon. Kemi Badenoch, at Lagos House, Marina, Sanwo-Olu said his administration

would continue to make Lagos a Continued on page 9

Sultan of Sokoto: Nigeria Sitting on Keg of Gunpowder

Says youth unemployment poses grave danger Laments nation’s economic hardship Declares people deeply frustrated, hungry Story on page 9

Abiodun's N5billion intervention fund to cushion hardship...

L-R: Special Adviser to the governor on Media, Mr. Kayode Akinmade; Head of Service, Mr. Kolawole Fagbohun; Governor Dapo Abiodun; Secretary to the Ogun State Government (SSG), Mr. Tokunbo Talabi and See story on page 10 Deputy Chief of Staff to the governor, Dr. Oluwatoyin Taiwo at a press conference by Governor Abiodun to announce palliatives to the residents of Ogun State... yesterday

Tinubu: Students Loan Scheme to Become Operational in Two Weeks... Page 5

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

T H I S D AY • THURSDAY, FEBRUARY 15, 2024

NEWS

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

Courtesy call on Sanwo-Olu by the British Trade Secretary...

L-R: British Deputy High Commissioner in Lagos, Mr. Jonny Baxter; British Secretary of State for Business & Trade, Rt. Hon. Kemi Badenoch, MP; Governor of Lagos State, Mr. Babajide Sanwo-Olu; His Majesty Trade Envoy to Nigeria, Helen Grant, MP; and Secretary to the Lagos State government, Barr. Abimbola Salu-Hundeyin during a courtesy call by the British Trade Secretary, at the Lagos House, Marina, ... yesterday

Tinubu: Students Loan Scheme to Become Operational in Two Weeks Gbajabiamila: President working on youth advisory council Charges students to speak up in defence of scheme Says govt'll address varsity lecturers’ looming strike

Deji Elumoye in Abuja President Bola Tinubu, has expressed optimism that the Nigerian Education Loan Fund (NELFund) after its expansion to accommodate extra features including vocational studies, would take off within the next two weeks. The president, who gave this assurance when the leadership of the National Association of Nigerian Students (NAN'S) visited him at the State House, Abuja, yesterday, also assured tertiary institution students that he would intervene in some of the difficulties they faced, especially arbitrary hiking of tuition fees. NANS President, Comrade Lucky Emonefe, who gave details of the meeting with President Tinubu to newsmen after the meeting, said he led his team to the State House to thank him for coming with various policies and programme aimed at making education accessible to everyone, including the NELFund. According to him, the president explained the delay in the launch of the NELFund saying in a matter of two weeks, the programme would take off. His words: "On the issue of the student loan, the little delay was the expansion. Mr. President expanded it for inclusion of some vocational training, which is highly commendable.

"In one or two weeks from now, the launching of the student loan will begin, that is as for the student loan, all steps have been put in place to commence it immediately and Mr. President will launch that. He has equally promised to include students in the process. "On the issue of the hardship that we're facing, Mr President didn’t give a specific time, but he said things will turn around soon and students will start feeling it. I think that was the response." On what informed his team's visit and how it went, Omonefe said, "We came, first, to thank him for the various educational policies that he has introduced; first is the students loan, he’s a lover of education and education is the bedrock. "He equally released funds for intervention; UBEC and TETFund, given to students, because that is development of infrastructure. So we came in to thank Mr. President. "It does not end there, the yearnings and the aspirations of Nigerian students, I came in to table them before Mr. President, including issues of hike in school fees and various other challenges; high cost of living for Nigerian students, what they are passing through. "As a father, who listens, I came to relate these things to Mr. President and Mr. President is accessible, he listened to us and he promised us

he's going to look into that, that he’s going to include more youths in his government. “He said we are the future leaders specifically, that he wants the student loan to work so that those who don't have access to education…, that education is a right. So that is our reason of visiting Mr. President and we know things will turn around for the better, soonest. "So we’re conveying the message back to our students, that Mr. President will look into the challenges they are facing in various higher institutions and those higher institutions that are increasing school fees will put an end to it. “So it is the challenge that Nigerian students are facing, we believe that the school fees hike will be a thing of

the past," the NANS president said. Also, yesterday, Chief of Staff to the President, Hon Femi Gbajabiamila, called on Nigerian students to speak up against voices condemning the Student Loan Funds policies, saying the scheme is to ensure no student irrespective of their birth circumstances was deprived of quality education. Gbajabiamila stated this when he received in his office, at the state House, the NANS President and his team. He solicited the support of Nigerians especially tertiary institution students to ensure that no indigent student, who genuinely needed the loan, was left behind. “Now we are going to need you in the success of this policy, because generally, it is a well-received policy

but there may be one or two segments of the society for the reason some people in some quarters may be kicking against it, this policy is for the Nigerian student, it is to make sure that no student is left behind when it comes to education. “It is to make sure people are not deprived of their education just because of circumstances of their birth that itself is unconstitutional. Now that the child of indigent should not be deprived of what should be a right, not to make education a privilege but a right. “So, when voices speak up against it we expect you to rise for support, this is something that you all support, embrace and work towards its success," the CoS said. He affirmed the determination

of President Tinubu towards the successful take-off of the scheme, adding that the programme would be launched within the next few weeks. According to him, “Mr President is determined that we see it through and see it through successfully that was supposed to be launched in January but it is anything worth doing and it is worth doing well. “We are hoping it will be launched in the next two to three weeks, we are trying to dot the I(s) and the T(s) before it is launched to ensure we have policies that cannot be faulted." He added that the student loan scheme, when successfully launched, would become part of the legacies of the present administration. Continues online

Tinubu Asks Senate to Confirm Cardoso, 11 Others as MPC Chairman, Members Sunday Aborisade in Abuja

Mustapha Akinwumi and Bamidele Omo. Tinubu’s request was contained in a letter read by Senate President Godswill Akpabio during plenary yesterday. The President in his letter said the request was in line with section 12 of the CBN Act (2007). Part of the letter read, “In accordance with the provisions of section 12 of the CBN Act of 2007, I am pleased to present for confirmation by the Senate, the appointments of the underlisted 12 persons as chair and members

of the monetary policy committee (MPC) of the CBN. "While hoping that the request will receive the expeditious consideration of the Senate, please accept the distinguished Senate President, the assurance of my highest regards,” he added. Akpabio referred the request to the Senate Committee on Banking, Insurance and other Financial Institutions for further legislative input. He said the Committee would report back to the Senate in one week.

Tinubu Departs For Addis Ababa to Attend 37th AU Summit Today

The President also asked the red chamber to confirm the four deputy governors of the bank which includes Mohammed Abdullahi, Bala Bello, Emem Usoro, and Philip Ikeazor as members of the committee. Other members of the MPC appointed by Tinubu are: Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC); Jibia Shehu, Permanent Secretary of the ministry of Finance. They also included Murtala Sabo, Uche Wogu, Maureen Agu,

Deji Elumoye in Abuja

Stable at Parallel Market at N1,495/$1

President Bola Tinubu has asked the Senate to confirm the appointment of the Governor of Central Bank of Nigeria, Olayemi Cardoso, as Chairman of the Monetary Policy Committee (MPC).

To join other African leaders to discuss peace, Naira Declines at Official Market to N1,503/$1, security and climate change in the continent President Bola Tinubu will, today, depart Abuja for Addis Ababa, Ethiopia, to participate in the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU). According to a release issued on Wednesday by presidential spokesperson, Ajuri Ngelale, the theme of this year’s summit is

‘‘Educate an African fit for the 21st Century: Building resilient education systems for increased access to inclusive, lifelong, quality, and relevant learning in Africa.’’ The President will join other African leaders in high-level meetings on institutional reforms of the African Union; peace and security; specific thematic issues such as climate change, as well as modalities of participation and priorities of the continental body

in the G20. On the margins of the summit, President Tinubu will also attend an extraordinary summit of the Authority of Heads of State and Government of ECOWAS in his capacity as the Chairman of the regional body. The President will be accompanied on the trip by some ministers and other top government officials, and he is expected to return to Abuja at the end of the summit.

…Daily turnover declines by 42.1% Nume Ekeghe

The naira yesterday declined against the US dollar at the Nigerian Autonomous Foreign Exchange (NAFEM), concluding the day at N1,505/$1 and remaining stable at the parallel market closing at N1,495/$1.

At the NAFEM window, the Naira closed at N1,503.38/$1, marking an N4.31 loss from Tuesday’s rate of N1,499.07. The parallel market however remained unchanged at N1,495 the same as what it exchanged on Tuesday. Furthermore, the official window

recorded a daily turnover of $117.87 million yesterday compared to the $203.93 million it recorded on Friday indicating a 42.1 per cent decline. The highest spot rate recorded yesterday was N1,582.38/$1 while the lowest spot rate recorded was N922.38/$1.

THURSDAY, FEBRUARY 15, 2024 • T H I S D AY

NEWS

SANWO-OLU, ADEBOYE, DANGOTE CONDOLE THE WIGWES...

L-R: Lagos State Governor, Babajide Sanwo-Olu; President, Dangote Industries Limited, Alhaji Aliko Dangote; Mother of late Group Chief Executive of Access Holdings Plc, Mrs. Stella Wigwe, and General Overseer, Redeemed Christian Church of God, Pastor Enoch Adeboye, during a condolence visit to the parents of late Group Chief Executive of Access Holdings Plc, Dr. Herbert Wigwe in Lagos…yesterday

Nigerians Experiencing Difficult February as Gasto-power Challenge, Heat Wave Worsen Nationwide Adelabu says Gencos owed N1.3tn, tariff subsidy not sustainable NiMET discloses heat-induced stress to persist in coming days Discos beg customers over prolonged poor supply Emmanuel Addeh in Abuja As Nigeria’s power supply challenges worsen, there appears be no respite in the coming days, with the Nigerian Meteorological Agency (NiMET) announcing yesterday that the excessive heat being currently experienced in the country would remain so for a while. In the last few days, the country’s already bad electricity supply problem, had further degenerated due to gas supply shortages, mainly due to the difficulty of Generation Companies (Gencos) to settle their financial obligations to gas suppliers. Many Nigerians, who now sleep outside, take their baths several times a day or are dealing with severe

heat rashes, have recently taken to various social media platforms to lament the current situation, blaming the authorities for their plight. Yesterday, Eko Electricity Distribution Company Plc (EKEDP) apologised to its customers, blaming gas supply issues, which it said had hobbled the ability of producers to make the product available. “Dear valued customer, the current limited supply you are experiencing is due to low allocation from the grid resulting from gas shortages to the generating companies. “We are working with our partners for a possible resolution soonest whilst we continue to update you as the situation progresses. Do kindly bear with us,” the electricity

distributor based in Nigeria’s commercial capital, Lagos, wrote on its X handle. Also, the Enugu Electricity Distribution Company (EEDC), said the poor power supply currently experienced across the South-east was beyond its control, attributing the situation to low energy generation, which has resulted in a drop in power supply availability. Its Head, Corporate Communications, Mr Emeka Ezeh, appealed to residents of the area to bear with the company for the decline in the quality of service. “We understand the inconveniences this situation has caused our esteemed customers and appeal for their understanding as it is beyond

us. We can only distribute what is allocated to us,” he added. However, in a briefing in Abuja yesterday, the minister overseeing the power ministry, Bayo Adelabu, said the problem had been worsened by the debts owed the Generation Companies (Gencos). He described the issues as multiple technical operational problems across all segments in the value chain, but made complicated by lack of sustaining liquidity and infrastructure funding, as well as structural misalignment. “The simple technical operational issues are: shortage of gas supplies and aging dilapidated generation machineries causing below optimal capacity utilisation,” he said.

FG Generated N34.311tn Revenue via REMITA Platform in Seven Years Committee summons Edun, Cardoso, AGF over agreement signed with solution provider

Juliet Akoje in Abuja The sum of N34.311 trillion revenue was generated through the REMITA platform into the federation account between 2015 and 2022, Managing Director/CEO of REMITA, Mr. 'Deremi Atanda has disclosed. Atanda, said this known during the investigative hearing on, "alleged revenue leakages through REMITA platform and non-compliance substantively with standard operating procedure and other allied service agreement," held by the House Committee on Public Accounts, which was chaired by Hon. Bamidele Salam. The Committee resolved to invite the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun and Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, to appear in person to give account of the roles played by each of the institutions in the contract agreement

and ascertain the veracity of the agreement signed between Central Bank and Systemspec/REMITA on the revenue collection. According to the documents presented to the Committee, instead of N343.109 billion fee income due at contracted rate of one percent flat which the stakeholders are entitled to (against the conventional five to seven percent fee) according to the agreement signed in 2015, the sum of N23.922 billion actual fee income was applied. According to the 2018 circular on the chargeable fees guidelines on e-collection, the sharing formula showed that all the stakeholders were to share the sum of N150 per transaction: banks – 33 per cent, CBN – 11 per cent, NIBBS - 10.5 per cent, Office of the Accountant General of the Federation (oAGF) - 2.5 per cent, while REMITA and other stakeholders including card issuers are entitled to get 43 per cent of the chargeable fees.

While correcting the impression that REMITA imposed additional fee apart from the approved N150 which represents 10 cents at current exchange rate on the revenue generating MDAs, Atanda disclosed that the REMITA payment gateway

platform provides additional technology services to the Federation at no cost, despite pay in foreign exchange for hosting the platform on cloud based platform. Continues online

He also listed inadequate power evacuation capacity at Genco locations, coupled with unstable and fragile transmission lines, devoid of automated frequency controls, lacking in fail-over or back-up capacity with frequent human disturbances through vandalism and theft. Others, he said, are: Aging weak distribution infrastructures (lines and transformer) coupled with huge meter gap causing unbearably large technical and collection losses. “These are issues that look so simple on the surface and should ordinarily require little efforts to fix over time. However, it's been quite difficult to get these problems fixed over the years due to the complications wrapping the entire value chain end to end. “The major complications are: The persistent liquidity issues coming from inappropriate tariff regime, poor collections and inadequate funding of government subsidies leading to huge debts owed to the transmission, generation and gas supply companies. “This has restricted investments required for sustaining supply flow, capacity expansion and infrastructural improvements. It has also not only discouraged lending to the sector by financial institutions as the sectoral activities are not bankable, but has also made the sector unattractive to new investors,” he said. The second complication, he main-

tained, is the value chain structural issues bordering on operations and control of generation, transmission and distribution segments. According to him, there has been an inability of the Nigerian electricity supply industry to adhere to market rules and to enforce market discipline. This, he said, has led to each segment in the value chain operating on a best endeavour principle. Adelabu said the third complication is the lack of clear and unambiguous definition of the concept of electricity as a nation. On the roadmap for stabilising the sector in preparation for turnaround, he said there was need for settlement of existing sectoral outstanding debt obligations to the gas supply and power generation companies, using partly cash payment and guaranteed debt instruments. “Settlement of existing sectoral outstanding debt obligations to the gas supply and power generation companies using partly cash payment and guaranteed debt instruments. N1.3 trillion is current debts to the Gencos and $1.3 billion legacy debts to the Gencos,” he added. On ongoing activities in the ministry and its agencies to improve power supply, he said they include augmentation of the hydro plants and thermal plants. Continues online

FG Inaugurates FIIRO South West Zonal Office in Ondo Fidelis David in Akure

In line with ongoing public service reform, the Minister of Innovation, Science and Technology, Uche Geoffrey Nnaji, yesterday inaugurated the South West Zonal Office of the Federal Institute of Industrial Research, Oshodi (FIIRO), in Akure, Ondo State. The Minister said, FIIRO, a parastatal under the agency of the Federal Ministry of Science and Technology, has become a beacon of innovation, driving

market-driven research and development (R&D) initiatives that have yielded numerous products ready for commercialisation, thus, contributing to Nigeria's economic growth and industrial development. Nnaji, who was represented by his Technical Adviser on Strategy and Programmes, Prof Nnanyelugo Ike-Muonso, said the ministry's Programmes was in tandem with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which was a commitment to unleashing the country's full economic potential by

focusing on job creation, access to capital for small and large businesses, inclusiveness, the rule of law, and the fight against hunger, poverty and corruption. His words: "This feat is a testament to our resolve to provide our workforce with a modern work environment that would boost their morale for improved productivity, enhanced capacity for problem-solving and international competitiveness. "Our gathering today underscores our firm conviction in the pivotal

role of science and technology in driving socio-economic progress in the 21st century. “It is a fundamental truth that no nation can achieve meaningful development without harnessing the power of innovation and technology. “As such, we remain resolute in our commitment to leveraging indigenous resources and expertise to drive technological advancement and sustainable development across all sectors of the economy. Continues online

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

THURSDAY, FEBRUARY 15, 2024 • T H I S D AY

NEWS

STRENGTHENING PARTNERSHIP...

L-R:Executive Director, Finance, Standard Chartered Bank Nigeria Limited, Dayo Omolokun;The Rt Honourable, Secretary of State, UK, Kemi Badenoch; Chief Executive Officer, Standard Chartered Bank Nigeria Limited, Lamin Manjang; Mrs. Helen Grant MP, OBE; and Executive Director, Chief Compliance Officer, Standard Chartered Bank Nigeria Limited, Adeyinka Olusiji, durng a meeting between the United Kingdom Secretary of State for Business and Trade and the bank held at the Standard Chartered Bank Nigeria Head Office, in Lagos…recently

Drama as FIRS Faults N2.59tn Tax Credit Scheme for Road Construction, Says It’s Unlawful Urges FG to discontinue policy

Sunday Aborisade in Abuja The Chairman of Federal Inland Revenue Service (FIRS), Dr. Zaccheus Adedeji, yesterday faulted the N2.59trillion Tax Credit Scheme introduced by former President Muhammadu Buhari's administration in 2021. The scheme was meant for road construction across the country. He stated this when the executors of the Tax Credit Scheme, the Nigerian National Petroleum Company Limited (NNPCL) gave details of the $3.3 billion loan facility secured for the Central Bank of Nigeria (CBN) for stabilisation of Naira exchange rate. He spoke when he appeared before the Senate Committee on Finance along with the Chief Financial Officer of NNPCL, Umoru Ajiya. The FIRS Chairman was not impressed with the N2.59 trillion Tax Credit Scheme introduced through Executive Order 7 of 2021 by Muhammadu Buhari led government. The Committee chaired by Senator Sani Musa, had invited the FIRS and the NNPCL management to shed more light on the implementation of the scheme especially the terrible state of the Federal Roads across the country. The NNPCL Chief Financial

Officer, in his presentation, raised the hope of the committee members that the scheme was being properly implemented. He said it was helping the federal government fix dilapidated roads across the six geo political zones in the country with N664billion spent so far. When asked to speak on the scheme, the FIRS boss condemned it, describing it as unlawful. He urged the federal government to discontinue it. He said, "The Mandate of FIRS lumped with execution of Tax Credit Schene for road construction, is to access, collect tax and remit it into the federation account and not to appropriate it for any purpose through executive order . "It is not the duty of FIRS and NNPCL to be paying contractors. The Ministry of Works should be in line with its core mandate, be allowed to award road contracts and pay for them. “The scheme to many people, serves as a faster way for road reconstruction or rehabilitation across the country, but we should stop increasing speed towards wrong direction . “As a way of stopping the wrong approach, the FIRS and CBN are holding meeting with the Ministry of Works Friday this week, (tomorrow). "At the meeting, we are going to

NNPC explains $3.3bn loan secured for CBN

take stock of what had been done through the scheme and thereafter we will toe the right path. "We should in a nutshell, not continue in the wrong trajectory ", he said . The Chairman of the Committee, Senator Sani Musa, expressed satisfaction with the FIRS boss

presentation. He said relevant provisions of the 1999 constitution( as amended ) are against the scheme. Musa said this was because monies that the NNPC and FIRS were being made to spend on the roads through tax credit, were supposed to be remitted into the

NCDMB calls for removal of barriers inhibiting free intra-Africa trade

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos With the proposed African Energy Bank (AEB) gearing to take off this year, with initial $5 billion capitalisation, Nigeria would be paying $83 million as its equity contribution as one of the shareholders of the multilateral financial institution. The Secretary General of the African Petroleum Producers Organisation (APPO), Dr. Omar Farouk, disclosed this in Lagos during his presentation at the Nigerian Local Content African Continental Free Trade Agreement Energy Summit organised by the

Nigerian Content Development and Monitoring Board (NCDMB) in partnership with the Petroleum Technology Association of Nigeria (PETAN). At the same AfCFTA summit, the NCDMB advocated the removal of visa restrictions among African nations, the creation of a database of available skills, and simplification of cross border deployment of labour. The APPO scribe in his keynote address, announced that the African Energy Bank would start operations in 2024 and would have $5 billion capitalisation. Farouk, disclosed that the 18 member-nations of APPO have

Moves to check double taxation on food transit, identifies lack of affordability as major challenge

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, yesterday clarified that the 42,000 metric tons of grains recently approved for distribution to vulnerable Nigerians would be provided free-of-charge. The minister said necessary machinery and measures had also been put in place to further ensure that only needy individuals and communities accessed the food palliatives. President Bola Tinubu had directed the immediate release of 42,000 metric tons of assorted food items from both the strategic reserve and the Rice Millers Association of Nigeria as a short-term response to the rising food shortage in the country. Kyari spoke at the maiden

Ministerial Press Briefing Series (MPBS) organised by the Federal Ministry of Information and National Orientation, on efforts by the ministry to reduce food prices and guarantee food security. The minister also said that the government will soon come up with a national policy statement prohibiting double taxation on food transportation across the country, following reports of touts’ harassments on the roads. The development had reportedly contributed to the current increase in food prices which the government is battling to contain. Kyari said the government believed that the current food inflation was due to market forces of demand and supply adding that the problem of affodability remained a key challenge for Nigerians - and not the issue of availability. He said, “Food is now viewed

members that it was secured to support CBN to suppress forex volatility. The agency said $2.2billion had already been secured for the apex bank while the balance of $1.05billion would be credited the apex bank before the end of the month.

Nigeria to Pay $83m Shareholding Contribution to $5bn African Energy Bank

FG: Grain Palliatives to Be Distributed Free-of-Charge to Needy Nigerians James Emejo and Wale Ajimotokan in Abuja

consolidated revenue fund. " We are waiting for outcome of meeting of the three agencies involved in the scheme, before deciding on how to help the present government to correct mistakes of the past ', he said. On the $3.3billion loan facility, the NNPCL informed the Committee

as a trading commodity, not as a necessity for food security of the nation. And I think because of this situation and the challenge that we face, we have to come out I make absolute statement that no double taxation should be applied to food in transit.” The minister, however, noted that some states including Niger, had already stopped food transportation from one town to the other to ensure self-sufficiency. He said the move was commendable as this would avert any crisis that may arise adding that it would also make the food available. Kyari also explained that the recent inauguration of the commodity board by Vice President Kashim Shettima, was aimed towards resolving the current food challenges in the country. He said food security remained a national security issue which had

not been properly managed, adding that when fully operational, the commodity board will regulate how foreigners access the farmgate and buy directly from local farmers with all the attendant negative impact on the country’s food security. He said the country ought to first achieve self-sufficiency in food production before exporting to other countries. The minister said the setting up of the commodity board arose from the “challenges that we face in this country today. You will agree with me that today anybody can go to farmgate and buy items. "Even if it's somebody from India or any other country, they can go to the farmgate and buy. And these are the issues that we're facing today in food security. Continues online

started paying up their shareholding, which is $83 million per country. He affirmed that the AEB would be a veritable platform to fund oil and gas projects within the continent and mitigate the withdrawal of international financiers because of the clamour for renewable energy. Farouk, however, advocated for synergy among African countries, hinting that no oil-producing country on the continent could provide the financial, technological, and marketing resources that it needed to be self-sufficient. According to him “If resources are pooled together, African countries can go far.” Farouk advised Nigerian oil and gas companies to be diplomatic when engaging their counterparts from other African countries and to co-opt other nationals when planning to operate in foreign jurisdictions. “You need to have diverse shareholding and include nationals from other countries when you move to other African countries to operate. Do not create the impression that you want to dominate," he stated. He also confirmed that APPO was working to establish international research centres of excellence in different regions of the continent, which he said, would cater to the research needs of oil companies operating in Africa and curb their dependence on international research centres for research solutions. He informed that APPO was working to enhance the market for African oil and gas resources and ensure that crude oil and gas resources that were produced in the continent get consumed within the African continent. "This is important because of the threat of energy transition, which

is expected to substantially shrink the demand for crude oil and gas resources internationally. "Another important and related action is the construction of a continent-wide pipeline system that could convey crude oil, refined products, and gas across different countries of the continent, Farouk added. Meanwhile, as plans to implement the AfCFTA continue to unfold, the Executive Secretary of the NCDMB, Mr. Felix Ogbe, has advocated the removal of visa restrictions among African nations, the creation of a database of available skills, and the simplification of cross border deployment of labour. Represented at the summit by the Director of Corporate Services, NCDMB, Dr. Ama Ikuru, the Executive Secretary harped on the need to unlock barriers that were inhibiting free intra-Africa trade and advised African leaders to create unified codes and standards for goods and services, reform the services sector, and enhance trade facilitation programmes. He assured that the NCDMB would continue to partner with stakeholders such as PETAN, APPO, and other continental and regional bodies to position Nigerian oil service providers to take advantage of the big market opportunities that AfCFTA offers. In his contribution, the Director of Monitoring and Evaluation, NCDMB, Mr. Abdulmalik Halilu, urged oil-producing countries to specialise in different manufacturing and service areas of the oil and gas industry and develop their competencies in the right specifications to enable them trade among themselves. Continues online

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FG's Tripartite Committee on Minimum Wage to Hold Next Meeting Monday Payment of two months wage award arrears begins

Onyebuchi Ezigbo in Abuja

As part of efforts to maintain dialogue on a new minimum wage with the organised labour, the federal government has fixed another meeting of the tripartite committee for Monday. A reliable source from one of the labour unions told THISDAY that government had already sent a letter to the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) as well as other tripartite committee members

for the meeting on Monday. According to him, in the invitation signed by the Director of Salaries, Income and Wages Commission and Secretary to the Committee, Mr. Ekpo U. I. Nta, the government said the second sitting of the committee would be held at 9am in the Banquet hall of Presidential Villa in Abuja. At the first exploratory meeting of the committee at the conference room of the Ministry of the Labour and Employment, the federal government tried to assuage the feelings of the

unions by promising to commence payment of suspended N35,000 wage award this week. Apart from payment of the wage award, the meeting had agreed on an immediate joint inspection visit to the Port Harcourt Refinery for labour to confirm the reported progress made in getting the refinery back to operation. At the meeting with the labour leaders, Minister of state for Labour and Employment Hon. Nkeiruka Onyejeocha, had noted that while the reaction of the labour organisations

was not unwarranted in the face of government’s non-completion of the agreement, bearing in mind that some items in the agreement could only be achieved in stages, she hoped that the discussion would lead to the rescinding of the ultimatum by labour. THISDAY gathered from sources at the ministry that payment of two months arrears of the wage award to those who missed out on the first tranche has started this week as pledged by government. The source said the federal

Sultan of Sokoto: Nigeria Sitting on Keg of Gunpowder

John Shiklam in Kaduna

The Sultan of Sokoto and Chairman of Northern Traditional Rulers’ Council (NTRC), Alhaji Muhammad Sa’ad Abubakar III, yesterday, said with the staggering youth unemployment in Nigeria, the country might be in imminent danger. The prominent traditional and religious leader lamented the economic hardship in the country, saying Nigerians are deeply frustrated, hungry, and resentful. Speaking at the Sixth Executive Committee Meeting of NTRC, which held in Kaduna, the sultan said Nigeria was in an explosive situation, especially the northern region. He expressed concern about the millions of unemployed youths, without income and food, and said this posed serious danger.

“We must find jobs for our teeming youths that are sitting idle and I have said it so many times, we sit on a keg of gunpowder, having teeming youths, millions of them, without jobs, without food, we are looking for trouble,” the sultan said. According to him, insecurity and poverty are the major issues causing trouble for the people of the north. The sultan regretted that NTRC had held similar meetings on several occasions with the northern governors, “Still we are faced with these security issues.” He stated, “To make matters worse, we are faced with rising levels of poverty of most of our people, and a lack of normal sources of livelihood for the common man to have even a good meal a day. “But I believe talking about insecurity and the rising level of

poverty are two issues that we cannot fold our arms and think everything is okay. “I have said it so many times and at so many fora that things are not okay in Nigeria and, of course, things are not okay in the north. “To me, this government is a continuation of the former government; it is the same party. So, what really is the problem? I think that is one of the reasons we are here to talk to ourselves.” The sultan said traditional rulers owed it a duty to millions of Nigerians, who believed in the traditional institution, to bring solutions to the various problems facing the country. He said, “I have said so many times that we never lack a solution to our problems, what we lack is implementation, because we meet

today, we bring out so many beautiful ideas on how to solve our problems, and we go back to our various places and go to bed, leaving such solutions here in this conference hall. So, how do we implement them?” The traditional ruler said the meeting would come up with various suggestions on how to resolve the numerous problems in the north. He believed, “Education is important, so whatever issue you want to bring us here, you must talk about education. You must talk about health issues and the two monsters that have been harassing all of us here, that is, insecurity and poverty. “And let’s not take it for granted. People are quiet, they are quiet for a reason because people have been talking to them. We have been talking to them, we have been trying to tell them things will be okay and they

Bayelsa to Immortalise Wigwe as Adeboye, Sanwo-Olu, Adeola, Adelusi-Adeluyi Visit Deceased's Parents

the road after the late consummate banker and businessman. The General Overseer of the Redeemed Christian Church (RCCG), Pastor Enoch Adeboye; Lagos State Governor, Mr. Babajide Sanwo-Olu; and former Minister of Health, Prince Julius Adelusi-Adeluyi, were among early visitors at the residence of Herbert Wigwe’s parents yesterday to condole with the family over his death. Wigwe, his wife, son, and a former Group Chairman of the Nigerian Stock Exchange, Abimola Ogunbanjo, died in a helicopter crash last Friday in the United States. London-based Zimbabwean billionaire, founder and Chairman of Econet, Strive Masiyiwa, expressed shock at Wigwe’s demise, in a post shared on Facebook. Diri said at the inauguration of the Yenagoa Outer Ring Road, which was constructed by Lubrik, that Wigwe was instrumental to the completion of the road project. He said the contract sum had been fully paid to the company, assuring that in his second term, the other part of the dual carriageway would be completed. The governor stated, "With the completion of the first part of this road, it means that we can drive from Elebele to Igbogene and from there to the Ecumenical Centre and then to Tombia. “In our second tenure, the remaining part of it will be completed to make it a complete ring road.” Inaugurating the project, the governor of Niger State, Mohammed Bago, said the idea of immortalising Wigwe was a welcome development. While congratulating Diri on his electoral victory and second term inauguration, Bago described the governor’s success as a clear manifestation of the people's support for his administration. In his remarks, the Commissioner for Works and Infrastructure, Mr. Moses Teibowei, said the construction and completion of sections 2 and 3 of the ring road, running from Okarki to Imiringi road, brought to full completion one of the single carriageways out of the dual carriageway from Elebele to Igbogene with a length of 21. 911 kilometres. Adeboye, Sanwo-Olu, and AdelusiAdeluyi were among the early callers at the residence of Herbert Wigwe’s

parents. Adeboye, a revered man of God, drove into the compound shortly after Sanwo-Olu’s arrival and both had a closed-door discussion with the Wigwes. Other early callers to the family were Chairman of Dangote Group, Aliko Dangote; former Group Managing Director of Access Bank, Mr. Aigboje Aig-Imoukhuede; co- founder of Guaranty Trust Bank (GTBank Plc), Mr. Fola Adeola; and Chairman of Access Bank Plc and former President of the Nigerian Bar Association (NBA), Mr. Paul Usoro. Speaking with THISDAY, AdelusiAdeluyi described Wigwe’s death as a big tragedy. He said, "Herbert was one of our children, and we used say to ourselves, in him a star was born, and that star developed into a gem. And now we are witnessing a situation that the star that was born that has turned into a gem is gone. "It needs a lots of careful patience to be able to cope. It's a big tragedy. We don't know the way of God, there is nothing that He does that is not for the good of mankind. So we say, may his soul rest in peace." Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, said, "We pray for the soul of the departed. May God comfort all those left behind." Former Minister of Petroleum Resources and chieftain of the All Progressives Congress (APC) in Akwa lbom State, Chief Don Etiebet, wrote, “May the soul of my friend, wife and son rest in perfect peace. I shall miss you, Herbert." In her condolence message, the first female Chief Judge of the Federal High Court, Justice Rose Ukeje, wrote, "Dear Lord, You know it all. Nothing happens without Your consent. Please, Lord, comfort Pa Pastor Wigwe and Lady Stella. “We commit them to Your care, may Your abiding grace see them through this tragedy. We pray and we believe thou will grant our prayer. Amen." A Senior Advocate of Nigeria (SAN), Mr. Norrison Quakers, said Wigwe was hospitable, unpretentious, and one who made sure his wealth went round. Quakers said regarding the late Wigwe, "He was hospitable, he was unpretentious, no airs about him. Someone that you could consider

as reliable, someone who stood by family and friends. “Someone who made sure that his wealth went round. He didn't limit his wealth to family members. And he did a lot of things, silently, that a lot of people are not aware of. School fees were paid for some people. "His commitment to God was unheard of. His commitment to the things of God was so unquestionable. Now, a man with that kind of kind heart, there's no way you will not be devastated when he exits the world in the way and manner he did. "He was tenacious, purposeful, determined and a goal getter. Did he achieve all that he set out to achieve? Well, one can say, with the short life that he had lived, one can say that a lot of the goals that he set for himself, he was able to achieve them. "He has impacted lives. And you can see the number of people who have come around and the compliments, messages that the family has been getting. “It shows the kind of person he was while he was yet alive. This is a lesson for many of us. That while you are alive, make use of the talent that God has given to you and also your resources.” Quakers also stated, "He was a guru in the financial sector. He was a tenacious young man and we will miss him. We will miss his purposeful leadership. It's unfortunate that this has happened. But again, this is another part of life. That even if you are alive, a day will come when you will have to leave the world. "But when you leave the world, what will the world remember you for? At least, today we are remembering him for the things that he has done. Not just for himself, but for humanity, for the Body of Christ. And then the nation as a whole. “Look at the university he put up in his community. Great man, he will surely be missed." Former Super Eagles goalkeeper, Idah Peterside, wrote, "Chie Herbert, Na so?" In a post he shared on Facebook, Masiyiwa wrote, “A few days ago I woke up to the sad news that my dear friend Herbert Wigwe, the co-founder of one of Africa’s largest banks, Access Bank, had been killed in a helicopter crash, alongside his wife, son and three others, including Abimbola Ogunbanjo.

“For a while, I refused to accept it and just kept looking at the news feeds as I hoped it just wasn’t true. Sadly, it turned out to be true and I just mourned with my wife as we remembered this amazing African.” The philanthropist also stated that in the world of business, Wigwe was the “real deal", a highly “skilled entrepreneur who built one of Africa’s biggest banks along with his partner and friend, Aigboje Aig-Imoukhuede, another towering African entrepreneur. “Herbert was a master of #Scale; he knew how to make a business big. He understood and applied the core principles of building and running a large business. And Access Bank was big and getting bigger as it turned to become a global player.

government was also making frantic efforts to ensure that all federal workers receive the January edition of the wage award latest by next week to forestall the planned workers' strike. The second round of the minimum wage negotiation meeting, is coming just as organised labour had insisted that they would not pull back from the threat to embark on a nationwide strike by February 23 if government fail to implement agreement it recently reached workers on palliatives to cushion the effect of

economic hardship brought about by the removal fuel subsidy.

keep on believing. “I pray to Almighty Allah that they will not one day wake up and say we no longer believe in you, because that would be the biggest problem, because we can’t quieten these people as traditional, spiritual leaders and diplomats forever.” The sultan appealed for a full and frank discussion by the conferees. He said, “So, I think it is good we talk about these things and let us be very honest with ourselves, let us be very frank about what we are going to tell ourselves here; it is no time to hide things. “We have reached that level, people are very agitated, people are hungry, they are angry, but they still believe there are people who can talk to them. “They believe in some of their governors, some other traditional rulers, and some of their religious leaders. Fortunately, some of us double as traditional and religious leaders. “So, we have this onerous task of reaching out to everybody, calming them down, and assuring them things will be okay, and they should continue to pray and pray and still do something good because prayer without work will not bring anything. “We are only advisers to the political leaders, that is all we can do, but if we are empowered and as strong as the governors by the constitution, by the amount of funds they get from the federal and state revenues, we can also do a lot. “However, we are ready to work with the governors, because we believe in them, we believe in what they are doing, and must work with them. “And if the governors, too, want

to have peace and stability in their states, they must work with the traditional leaders.” Similarly, speaking at the occasion, the governor of Kaduna State, Senator Uba Sani, who was represented by his deputy, Dr. Hadiza Balarabe, called for strong partnerships among northern states on security and other development issues. Sani also called for the establishment of a command and control centre to coordinate joint efforts against terrorists, bandits, kidnappers and other criminal elements. He stated, “States in the north must forge strong partnerships on security and other developmental issues and concerns. “Going forward, northern states must develop a common strategy and operational plan to tackle insecurity. “We must establish a command and control centre to coordinate our joint efforts against terrorists, bandits, kidnappers, and other criminal elements within this region.” Director-General, Department of State Services (DSS), Alhaji Yusuf Magaji Bichi, who was represented by the state director, Alhaji Abdul Enenche, stressed the need for the traditional institution to help in identifying threats before they start manifesting. The DSS boss called for collaboration among stakeholders, just as he lamented the role of saboteurs and informants, saying they are a challenge to the fight against insecurity. He said, “The informant keeps frustrating the role of security agencies. They live amongst communities and this brings to mind the role of traditional rulers, who can assist security agencies in fishing out insider threats.”

Minister of state for Labour and Employment Hon. Nkeiruka Onyejeocha

Sa n w o - O l u to U K : C o n sid e r Lag o s D e sti n ati o n o f Ch o i c e f o r I n v e st m e n ts destination of choice by ensuring a friendly business environment for investors. Also, in fulfilment of his promise and demonstration of love to market men and women on Valentine’s Day, Sanwo-Olu, yesterday, flagged off the distribution of N750 million financial intervention scheme tagged “Lagos Market Trader Money” to 15,000 beneficiaries. Speaking further during the courtesy visit by the United Kingdom Secretary of State for Business and Trade, Rt. Hon. Kemi Badenoch, Sanwo-Olu, according to a statement, also stressed the need for improved trading activities to improve Nigeria's economy, saying, "Let us consume what we grow and grow what we consume to reduce our dependence on foreign currency." He said: "For us, we see a whole lot of opportunities that Lagos can be for our country while also identifying and managing the challenges that we need to deal with on a continuous basis. "We will continue to make the environment investment and business-friendly. We will continue to make Lagos a destination of choice. We understand that people have choices but they can indeed make those investment decisions in Lagos. "Lagos is one of the reference points not only in West Africa but in the whole of sub-Saharan Africa

and we are excited that you are here. “We are hoping that you have seen one or two things that you can take back and you can continue to assure the business community in the United Kingdom that Nigeria is ripe already and Lagos is a destination that they should consider." Speaking earlier, Badenoch said the businesses from the United Kingdom were excited about investing in Nigeria and Lagos in particular. Badenoch, who is also the Secretary of State who covers exports, said the United Kingdom was ready to work with Nigeria to reduce barriers to trade and ensure that business between the two countries goes as smoothly as possible. She said: "Primarily, I want to continue doing what my main job is, which is promoting British business and international trade all across the world and I visit many countries. "And of course, when the opportunity arose, I definitely wanted to come to Nigeria. As many people know, this is the country that I lived in when I was a child. And the first meeting that I had was a British business roundtable, which is businesses from the United Kingdom that are investing in Nigeria, mainly in Lagos. "We want to make sure that we have the two-way trade. We know the challenges that Nigeria is having with foreign exchange.

“One of the ways that you can resolve that is exporting more and finding out what we can do on the United Kingdom side to reduce those barriers to trade and ensure that business between the two countries goes as smoothly as possible."

Sanwo-Olu Distributes N750m to 15,000 Beneficiaries as Trader Money In fulfilment of his promise and demonstration of love to market men and women on Valentine’s Day, Sanwo-Olu, yesterday, flagged off the distribution of N750million financial intervention scheme tagged “Lagos Market Trader Money” for 15,000 beneficiaries. The 15,000 beneficiaries, who received N50,000 each, were drawn from across all the six geo-political zones of Nigeria – South-West, SouthEast, South-South, North-Central, North-West and North East, but are all residents of Lagos. Speaking during the launch of the Lagos Market Trader Money held at De Blue Roof, Agidingbi, Ikeja, a statement quoted Sanwo-Olu to have said the gesture would go a long way to actualise his goal of transforming the food systems in Lagos State and stimulate economic activities in various food markets Continued on page 34

THURSDAY, FEBRUARY 15, 2024 • T H I S D AY

NEWS

DIRI BEGINS SECOND TERM...

L-R: Vice President of Liberia, Jeremiah Kpoung; his Nigerian counterpart, Senator Kashim Shettima, and Bayelsa State Governor, Senator Douye Diri, during the governor’s second term inauguration at the Samson Siasia Sports Complex in Yenagoa ... yesterday

Senate Begins Move to Review Nigeria's Constitution, Constitutes 45-member Panel 60 Reps introduce bills to return to parliamentary government by 2031

Sunday Aborisade and Juliet Akoje in Abuja The Senate yesterday constituted a 45-member committee to review and amend the 1999 Constitution, with Senate President, Godswill Akpabio announcing the composition of the committee during the plenary. Akpabio said the committee will be chaired by the Deputy Senate President, Barau Jibrin while the Senate Leader, Opeyemi Bamidele would be the deputy chairman. The senate president explained that the 1999 constitution needs a review because it contains many issues that need to be "put right." He also highlighted the introduction of Artificial Intelligence as a major factor for the need to amend the constitution. Akpabio said: "There is a need for us to touch some aspects of the constitution to bring them inline

with current relatives particularly with the era of artificial intelligence and some of the things we have observed that need to be put right," Akpabio said. The senate president also directed that all Speakers of the State House of Assemblies should be invited to the National Assembly for interaction as part of the constitution amendment process. "The deputy senate president, you also invite speakers of all state houses of assemblies for interaction with the senate president before we go into the major issues of presenting the different memos" he added. The senate president explained that lawmakers who constitute the constitution amendment committee were selected from all states and geo-political zones. He also claimed that members of the committee are from all political parties in the senate.

He said: "It is all political parties and all senatorial districts, all zones are taken care of. We are taking one senator per state because we are talking about the constitution amendment. One senator per state and then we are also taking one senator representing each geopolitical zone . "So, in case you noticed two senators from one state, that would mean that one of them represents the zone, while there's one senator from that zone representing that state." The senate president noted that the constitution amendment committee will be inaugurated next Tuesday and they will commence the review process immediately. "The committee will be inaugurated on Tuesday, so that they can start functioning immediately. "All the motions and resolutions pertaining to constitution amend-

ment that have been brought to the senate since last year will now be channelled straight to that committee," he added. Apart from Barau and Bamidele, other members of the constitution amendment committee are: Deputy Senate Leader, Oyelola Ashiru; Whip

Ogun State Governor, Dapo Abiodun has announced a N5 billion intervention fund to cushion the effect of the rising cost of living and inflation in the state. Addressing a press conference at the Olusegun Osoba Press Centre, Governor's Office, Oke-Mosan, Abeokuta, Abiodun said the fund would cover education, health, work-

Government raises panel to renegotiate award of Ijora central workshop

The federal government and the leadership of MTN Nigeria have met to resolve the issues delaying the speedy completion of the ongoing rehabilitation of the Enugu-Onitsha highway. The project comes under the tax credit scheme, which provides for some corporate organisations such as Dangote, BUA and the Nigerian National Petroleum Company Limited (NNPC) to utilise 50 per cent of their expected tax payable to the government to fund the construction of critical road projects nationwide. A statement by the ministry of works signed by the Director of Information, Olusola Abiola, said the existing contract signed with MTN, a leading telecommunications service provider in the country, would gulp over N200 billion in two separate phases to be executed over a period of 36 months. Speaking at the end of a meeting in Abuja, the Minister of Works, David Umahi, lauded the firm led by its Chief Executive Officer, Karl Toriola for the assurance given to fast-track the rehabilitation of the 107km highway. The road begins from the 82 Division in Enugu and terminates at the River Niger head bridge in

Onitsha. Both parties renewed their commitments towards the completion of the rehabilitation of the highway after the stakeholders’ meeting held at the ministry’s headquarters, the statement added. Umahi restated the imperative for the organisation to make good its commitment to the provisions of the contract in spite of the current economic challenges. He however promised that the Bola Tinubu administration would continue to give credible assistance to MTN as it demonstrates the determination to complete the highway project on schedule. In his own remarks, the CEO of MTN Nigeria, Toriola, expressed his appreciation for the minister’s understanding of the challenges being faced in the execution of the contract, pledging to expedite work on the project. He assured the minister that his organisation would continue to partner with the federal government and work towards the successful completion of the project. Meanwhile, Umahi has set up a five-man panel comprising the Directors of Highway Construction and Rehabilitation (Chairman), Highway Planning & Development, Engineering Services, Legal Services and Head

Public Private Partnership to review the award of the concession deal to rehabilitate and manage the ministry’s central workshop in Ijora, Lagos, under a public/private partnership. Considering the report on the processes leading to the finalisation

Etim Akpan, Ifeanyi Ubah, Abdul Ningi, Seriake Dickson, Agom Jarigbe, Ned Nwoko, Adams Oshiomhole, Danjuma Goje, Osita Izunaso, Abdulhamid Ahmed and Khalid Mustapha. Continues online

Abiodun Earmarks N5bn Intervention Fund to Tackle Rising Cost of Food, Inflation

FG, MTN Meet to Ramp Up Work on N200bn Enugu-Onitsha Highway Emmanuel Addeh in Abuja

of the Senate, Ali Ndume; Deputy Whip , Nwebonyi Onyeka; Minority Leader, Abba Moro; Minority Whip, Osita Ngwu; Deputy Minority Leader, Oyewunmi Olalere, and the Minority Whip Sani Hangar. Others are Senators Enyinnaya Abaribe, Binus Dauda Yaroe, Bassey

of the agreement with Messrs BETA Transport Nigeria Ltd, the minister expressed reservations over of the negotiation that gave rise to the financial close. Continues online

ers' deductions and food palliative. He said: "As our administration acknowledges the concerns raised by many of our citizens regarding the rising food prices and shortages, coupled with the depreciation of the Naira, we identify with you and are taking proactive measures to alleviate the impact of these challenges to guarantee the welfare, well-being and wellness of our citizens in this difficult time. "In this direction and through targeted interventions, we aim to address these challenges by implementing a series of phased initiatives aimed at alleviating these burdens on all our citizens. "The state has taken the following steps: Education Sector: Providing a minimum of five exercise books for all 850,000 students in our public primary and secondary schools. "We are providing a one-time N10,000 education support grant for at least 100,000 pupils in our public primary and secondary schools in the state. Providing all 27,600 indigent students in tertiary

institutions nationwide with an education grant of N50,000 each." He said his administration would provide insurance health cover for over 70,000 beneficiaries to include pregnant women, children, the elderly, market women and other members of the informal sector while pregnant women, under the Ibidero scheme would be providing free pre-natal care, an additional N5,000 per birth and free post-natal care in the State Hospitals and Primary Health Care centres across the state. Abiodun stated that provision would be made for food palliatives to include rice and other food items for about 300,000 households across the state. "The state government will commence to offset the backlog of inherited deductions. To this end, we are immediately committing N500 million monthly payment towards outstanding deductions. It is noteworthy that we have continues to pay N10,000 transport allowance to all civil servants for the last 8 months.

House Urges FG to Ban Production, Importation, Distribution of Styrofoam, Plastics Juliet Akoje in Abuja The House of Representatives yesterday urged the federal government to ban the production, importation, distribution, and use of styrofoam and single-use plastics throughout Nigeria. The lawmakers also urged the federal government to implement a phased approach to the ban by providing sufficient time for businesses and industries to transition to alternative eco-friendly materials and practices. In addition, the lawmakers urged the Federal Competition and Consumer Protection Commission (FCCPC) and other relevant

agencies to monitor the quality of packaging of foods and beverages, particularly in fast moving consumer goods (FMCGs), ensuring global best practices are followed and all appropriate regulations guiding the whole process are adhered to. These resolutions followed the adoption of a motion on the ‘Need to Ban the Use and Distribution of Styrofoam and Single Use Plastic Across the Country,’ moved by Hon. Muktar Shagaya at plenary yesterday. Shagaya, while presenting the motion noted that the provisions of Section 20 of the Constitution of the Federal Republic of Nigeria, 1999 (as

amended), placed a responsibility on the federal government to protect and improve the environment for present and future generations, and ensure the health and well-being of its citizens. He further noted that the increasing use of styrofoam and single-use plastics in Nigeria poses significant environmental and public health risks, including pollution of waterways, soil, and air quality. "Chemical found in styrofoam, is linked to health issues, such as cancer, vision and hearing loss, impaired memory and concentration, and nervous system effects. "Aware that styrofoam is prohibited in Taiwan, Rwanda,

England, and many other European countries, together with some towns and states in the United States. Currently, the product is illegal in Lagos and Abia States. "Also aware that alternatives to styrofoam and single-use plastics, such as biodegradable materials, reusable containers, and recyclable packaging, can reduce environmental impact and public health risks," he added. Furthermore, he raised a concern that the increasing use of styrofoam and single-use plastics in Nigeria not only leads to increased plastic waste and environmental pollution but also poses a significant health risk.

T H I S D AY • THURSDAY, FEBRUARY 15, 2024

NEWS

US releases images from Wigwe’s crash site...

The photographs showing the site of the helicopter accident that killed Herbert Wigwe, the chief executive officer of Access Holdings, have been made public by the United States National Transportation Credit: NTSB Safety Board (NTSB).

Labour Party Crisis Deepens, Suspends Treasurer for Accusing Chairman of Fraud Says it only generated N1.2bn from form sales Oparah reacts, says action premeditated

Chuks Okocha in Abuja The national leadership of the Labour Party, yesterday,suspended its National Treasurer, Oluchi Oparah, for six months over allegations of financial misappropriation against the National Chairman, Julius Abure. The party, which dismissed the allegations against Abure as untrue, however, said contrary to Oparah’s claims, it only realised the sum of N1.2 billion from the sales of forms in the 2023 general election. But in her reaction, said her suspension was premeditated, because as a member of the national leadership of the party, she was not given fair hearing. Addressing a press conference on behalf of the leadership of the party, the National Publicity Secretary, Obiora Ifoh, the National Legal Adviser of the party, Kehinde Edu and other members of the party leadership said Oparah erred for not appearing before the committee investigating her allegations. The party, in a statement late Tuesday, had directed the national treasurer to appear before a committee by 10 am to answer questions of misappropriation against the national chairman, Julius Abure. But by noon, yesterday, the party addressed a press conference that Oparah had been suspended for six months. According to Ifoh, "At the meeting held Tuesday evening February 13, 2024 in Abuja, in exercise of its powers as contained in the Party's Constitution with the intention of a fair hearing, the NWC extended an invitation to the National Treasurer to appear before it on Wednesday

(Today) February 14, 2024 by 10am (12 hours) to discuss the recent development. “The party regrets that the National Treasurer shunned the invitation by the disciplinary committee, to clear herself and her actions. We see this as an afront to the party leadership and millions of our members, who are watching on how their party's image, which they have laboured hard to build is trolled by one ingrate. "The disciplinary committee has however recommended to the National Executive Council of the party through the National Working Committee that Ms Oluchi Opara be suspended from the Labour Party for a minimum of six months. This suspension is with immediate effect," he stated Ifoh described the national treasurer as a mole, saying, "Ms Oluchi Opara, a key member of the executive turned to be a mole in the house and has continued networking with the expelled members of the party leadership. "It may surprise you to know that the text of the Press conference by Ms Opara was actually written for her since November 2023 by the camp of the dissident former members, a copy she tendered in one of our December NWC meeting. "The leadership of the party made series of efforts to dissuade her from not pulling down the roof of the home she has lived in for 10 years as the longest serving Treasurer in history of political party in Nigeria," he stated. On the allegations bordering on abuse of office and misappropriation of party’s funds, he said Abure

took over the rein of the party in 2021 after the death of the former Chairman, Alhaji A. Abdulsalam in December of 2020 and a former Deputy National Chairman, Mrs Maria Lebeke, emerged the acting national chairman. He said Abure as the National Secretary later emerged as national chairman four months after the death of the late chairman. "Ms Opara alleged that Abure forged signature of the late chairman two months after his death to withdraw huge sums of money but her memory was so short to remember that Abure only emerged as the Chairman about four months after the demise of the former Chairman. She also forgot in a hurry that she and the late

chairman exclusively operated the accounts of the party. "When Abure assumed office, it dawned on him as the Chief Accounting Officer of the party to build a proper accounting method, which never existed throughout the eight years (as at 2022) of Ms Opara's service as the Treasurer of the party. “Real reason she was made a Treasurer is a discussion for another day but we dare her to present a single document of the party's financial records from 2014 to 2021. "The problem this NWC has with her was the insistence that a proper financial record be kept. The party has grown from portfolio party to a dinosaur party it has become in the last one year and there arose a need to do the proper thing.

"She also alleged that the party amassed a whooping N3.5 billion naira from sale of forms from the 2023 election. We wished that was true but the truth is that the party realised only N1.2 billion only from not just sale of forms but also from other sources including membership cards, donations amongst others. "The party through the campaign bodies and support groups realised another N800.000.000, a fund solely managed by the Campaign Organisation, not the party. "The party accounts have been properly audited up till June 2023 and have since been submitted and received by INEC. It may surprise you to know that not many political parties have submitted their 2022 audited accounts.

UK to Build Maritime Headquarters for NDLEA Michael Olugbode in Abuja

The United Kingdom government is set to embark on the construction of a maritime headquarters for the National Drug Law Enforcement Agency (NDLEA). The Director Africa region operations of the United Kingdom Home Office International Operations, Mr. Richard Lloyd, disclosed this yesterday, during a visit to the national headquarters of NDLEA in Abuja, Lloyd, who described as amazing and impressive, the collaborations between the UK body and the NDLEA spread across various drug law enforcement operations and projects jointly

conducted, said the construction would commence in June 2024, to further enhance the capability of the anti-narcotic body. Lloyd, who led a four-member delegation to the NDLEA headquarters, commended the leadership of Marwa, which has achieved tremendous successes in dismantling a lot of trans-border drug trafficking cartels. He said as a further proof of their commitment to the resultoriented partnership with NDLEA, his office would be glad to sign an already drafted Memorandum of Understanding, MoU, with the NDLEA very soon. He said: “I have heard so many good stories of the agency and

your team. I will start by saying thanks for your support and the relationship that we have. I’ve been nothing but impressed since I arrived in Nigeria 10 days ago. “I met a lot of the teams in Lagos and in Abuja and I must say they have been fantastic. The way that we work together with the Home Office International Operations and the NDLEA is astonishing. “I manage a lot of countries and teams in Africa and I have a lot of teams across the continent and in Nigeria here is by far head and shoulders above everyone. “To be fair, not only in Africa, because I work in Africa I may

Research Shows Edo South Not More Than 46.50%Voting Population

Wale Igbintade

A research by The Prove Foundation has shown that Edo South's claim of having 60 per cent voting population is not true after all. The research, released by the Coordinator, Omotola Ariyo, a former associate at Morgan Stanley and an analyst at Goldman Sachs, showed a voting pattern across the three senatorial districts of the state. The research proved to the contrary the age-long assumptions that the majority Edo South senatorial zone accounts for about 60 per cent of Edo State’s voting population. Findings from the research put Edo South at 46.50 per cent, Edo North at 35.50 per cent and Edo

Central at 18 per cent. It debunked the much-acclaimed majority that is usually associated with Edo South (which is always put at between 55 and 60 per cent voting population) in the 2020 governorship election, settling down at a contributed 46.50 per cent of the votes to the outcome of that election. According to Ariyo, "the report goes beyond mere statistics but explore the underlying factors influencing voter behaviour and election outcomes. “This includes an assessment of socio-political dynamics, economic influences, and other critical elements that have played a pivotal role in shaping the electoral decisions of the populace.”

“The allegation that audited account was doctored is a matter of libel, which we have taken note. She will be made to give further clarification as how banks transactions are falsified as auditors only work with evidences of transactions emanating from statements from the banks," Ifoh stressed. He explained that after the 2023 general election, "the Labour Party was marked for total annihilation by the system for daring to upstage the status quo of the political class and up till today, the battle over the soul of the LP has continued to intensify." National Legal Adviser, Kehinde Edu, on his part, justified the suspension, stating that the party has no luxury of time.

He noted: “Our analyses indicated that the 2016 gubernatorial elections in Edo State showed that the political dynamics weighed in favour of the two major parties, APC and PDP, and this cut across the three zones. “The APC emerged as the victor in that election with a significant margin of 66,310 votes. Analysis of the voting pattern showed a clear geographic divide in party preferences, with APC dominating in Edo North and Edo-South, while PDP was the favourite in Edo Central. “Our analysis further showed that contrary to the commonly cited figure, Edo-South accounted for 48.37% of the votes, not the 60% often claimed, indicating a substantial but not dominating influence on

the electoral outcome. “This figure, coupled with the 32.23% from Edo North and the 19.40% from Edo Central, with a 15.85% vote difference between Edo South and Edo North, underscored the diverse political inclinations within the state. ‘However, the 2020 gubernatorial elections in Edo State marked a significant shift in political alignment, with the Peoples Democratic Party (PDP) defeating the All Progressive Congress (APC) by 83,538 votes. “A marked decrease in overall turnout was noted, with 527,984 total votes cast, reflecting a reduction of 44,672 from the previous election. Edo North increased its contribution to 35.50%, up from 32% in 2016,

while Edo South's share decreased to 46.50% from 48%. Edo Central's contribution also saw a decline to 18%. “These changes narrowed the gap between Edo South and Edo North by 4.85%. Our analyses implicated factors that contributed to APC's loss to include a lack of support from federal members and governors within the APC, perceived hypocrisy due to the party leader's past criticism of their candidate Pastor Ize Iyamu, a united front from PDP stalwarts including Obaseki, Shaibu, Orbih, and Governor Wike, and insufficient mobilisation efforts at the grassroots level by the APC. Continues online

be biased but across all of our operations, we are massively ahead of everyone and it is really good for me to go back to the UK and highlight the amazing work that NDLEA does with Home Office team in the country. “The office has a keen interest in Nigeria and the way that we work to disrupt organised crime and gangs in the country. Congratulations to the NDLEA team for doing a fantastic job.” In his response, Chairman/Chief Executive Officer of NDLEA, Brig Gen Buba Marwa (Retd) expressed appreciation to Lloyd and his team for their kind comments about NDLEA’s work, adding that such commendation will further encourage the officers and men of the agency to do more. He said: “We thank you very much for these encouraging remarks. These commendations coming from you are considered highly because we are glad to be meeting our mandate. “I will like to give you the assurances that the NDLEA is very committed to our mandate. We plan to go down to the 774 local governments of the country so that at the community levels, we are able to check what is going on there and do whatever needs to be done there. “We know these are difficult times in the UK as it is with other countries, and we appreciate that even with that you find the resources to support us is much welcome, especially the training, and capacity building which is very important.”

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

T H I S D AY • THURSday FEBRUARY 15, 2024

politics

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

Labour Party’s Abure in Eye of the Storm

Chuks Okocha reports that the National Chairman of the Labour Party, Mr Julius Abure, has described as spurious and unfounded allegations of forgery and misappropriation of funds levelled against him by the party’s National Treasurer, Oluchi Oparah.

his is not the best of times for the National Chairman of the Labour Party, Mr Julius Abure, as he is daily embroiled in one controversy after another. This certainly does not portray the party in the best of public image. Recently, he was accused of forging the signatures of some political aspirants in Ebonyi and Plateau States. Now, it has taken another dimension. This time around, it is financial allegations. Allegations coming from no other person than the national treasurer of the party, Mrs Oluchi Oparah. The Exchequer of the Labour party who is supposed to be 100% in the know of the party’s finances accused Abure of forging the signatures of the party’s late national chairman, Abdulkadir Abdulsalam to withdraw funds totalling N21 million. Before this most recent allegation, a governorship aspirant of the party from Ebonyi state, Mr. Eze Oko, had accused the Party’s National Chairman of alleged forgery and conspiracy that led to his replacement few days to the March 18 gubernatorial election. Specifically, Oko alleged that at the heat of political activities leading to the gubernatorial election in Ebonyi state, the national chairman initiated moves to illegally remove him as the gubernatorial candidate with an alleged forged withdrawal letter submitted to the Independent National Electoral Commission, (INEC). Oko said his complaint led to a series of forensic investigations by the Nigeria Police Force, which, according to him, found Abure guilty of forgery. He, therefore, called on the Labour Party National Executive Council (NEC) and National Working Committee (NWC) to initiate disciplinary action against Julius Abure and others indicted by the Nigeria Police Investigation. In the same vein, operatives of the Federal Capital Territory (FCT) Police Command, had sometime ago arrested Abure, over alleged fraud linked to the party’s governorship primary in Plateau State. It was gathered that his arrest followed a criminal complaint against him by one Yohanna Margif, who accused Abure of forgery. Magif, a governorship aspirant of the LP in the 2023 governorship election in Plateau State, alleged in a complaint to the Police that Abure forged his signature on a letter where he (Margif) is supposed to have withdrawn from the governorship primaries. Whereas, the embattled LP National chairman has been released on bail after the police obtained his statement, it will be recalled that Murphy Imasuen, an LP House of Representatives aspirant for Orhionmwon/Uhunmwonde federal constituency in the 2023 general election in Edo State, also accused Abure of forging his signature in similar circumstances. The Force Criminal Investigation Department (FCID), which investigated the matter, had recommended that Abure be prosecuted after it was confirmed by the Chief Registrar of the High Court of the Federal Capital Territory (FCT). In his defence, Abure described the allegations of forgery against him and members of his executive in Ebonyi, Edo, and other states prior to the 2023 general elections as unfounded. Abure, who said the allegations were the handiwork of desperate politicians to weaken the resolve of the Nigerian people invested in the Labour Party, championed the narrative with the intent to distract himself and the executive from focusing on the elections. He stated that the attention required from his office to prosecute the 2023 elections was huge, and he deferred the visit to the police station on the unfounded allegation. According to him, updates in the police investigations over the various allegations have exposed the lies and empty orchestration against his person and the dream to better Nigeria through the Labour Party. He pointed out that all the persons who alleged that they were wrongly changed from being the party flag bearers for the various

Abure positions as governor or for legislative seats in Ebonyi, Imo, Edo states were mere placeholders, a scheme adopted by the party at the time to secure the seats for the party to be able to field candidates in the elections. He said, “I will limit these clarifications to instances. People have come up in the social media space, even on television houses, to say that they were erroneously substituted in the just concluded general elections. “I want to say very clearly here that no candidate of the party was illegally substituted. No person’s signature was forged. Those persons who are making these allegations, no doubt, are those who have been procured by our adversaries and those who are afraid of the fortunes of the party and are therefore working to disorganize the party. “The so-called Splendour Eze from Ebonyi State who claimed to be a candidate of the party and was wrongly substituted was never a candidate of the party. “He visited my office one day in the company of the suspended youth leader, Ansalem Eragbe, sometime in May asking me to give them an opportunity to

participate in the party”. And to make things worse, these allegations kept coming. The latest is financial impropriety that has been added to the series of allegations against Abure. The national treasurer of the party, Mrs. Olzuchi Oparah, accused Abure of misappropriating the sum of N 3.5 billion being proceeds of sales of forms for the 2023 general elections. She also alleged that Abure attempted to bribe her with a car and a house which she refused. According to Oparah, “As National Treasurer, I am constrained to come before you and the public today because the internal mechanisms of our party have failed woefully to bring Mr Abure to account for his brazen abuse of office and misappropriation of party funds. His appetite for power has grown unchecked, and he has deliberately undermined my duties and authority as stipulated in the party’s constitution. “Since assuming office in 2021, Mr Abure has engaged in a series of actions that not only undermine the principles upon which the Labour Party was founded but also constitute grave violations of trust and fiduciary responsibility. “Despite my role as National Treasurer and custodian of all party funds, bank and accounting records, I have been systematically prohibited from fulfilling my duties, including accessing essential information and bank state-

With the exception of the National Treasurer whose tenure is about to end in few weeks time, and who has served for eight years as National Treasurer without a single record of party accounts, no other member of the national working committee has raised any issue of embezzlement against our National Chairman who made a pledge on assumption that the party has to be revamped. Evidence is our proactive outing in the 2023 general election as the party presented for the first time a very good presidential candidate. Let it be said that the Labour Party has not earned N3.5 billion as claimed and that the National Chairman has not embezzled any money that belongs to the party as alleged.

ments necessary for proper financial oversight. This deliberate obstruction hinders my ability to carry out my responsibilities”. Buttressing her point, the national treasurer posed some salient questions to the national chairman, saying, “I urge Mr Abure to immediately answer the following: “Provide documentation for the N3.5 billion raised from the sale of forms for the 2023 elections and why Edo State proceeds went into private accounts. “Account for the N958 million raised from off-cycle elections in 2023. Provide paper trails and documentary evidence of adherence to due process. “Declare every single dollar raised from the 2023 US fundraising tour and provide documentation on where donations were warehoused and how same was appropriated. “Explain the source of funds for properties bought in Nigeria and abroad between 2022 and 2023. Provide paper evidence. “Allow me unfettered access to party accounts and records as National Treasurer. “Submit to an independent forensic audit of our party’s finances, to be conducted by a reputable international firm. “Explain why he has deliberately undermined my authority and flouted the Labour Party’s constitution and provide evidence that he has not abused his office for personal enrichment or abuse of power. “The Labour Party belongs to its broad membership, not a single individual. I urge Mr Abure to do the honourable thing and submit himself to a transparent process that will restore confidence, trust, and integrity in our party’s financial dealings.”, she stated When THISDAY contacted Abure for his comments on the allegations levelled against him by the national treasurer, he asked about what the allegations were about and our reporter told him it had to do with allegations of misappropriating of funds. He told our reporter to call back later as he was in a meeting. Since then, he refused to pick his call. But later, the National Publicity Secretary of the party, Obiora Ifoh, issued a statement to state Abure’s side of the various allegations raised saying: “We want to say that the National Treasurer who is certainly under some external influences merely read out a concocted statement drafted by our detractors to further tar the image of the party. “With the exception of the National Treasurer whose tenure is about to end in few weeks time, and who has served for eight years as National Treasurer without a single record of party accounts, no other member of the national working committee has raised any issue of embezzlement against our National Chairman who made a pledge on assumption that the party has to be revamped. Evidence is our proactive outing in the 2023 general election as the party presented for the first time a very good presidential candidate. “Let it be said that the Labour Party has not earned N3.5 billion as claimed and that the National Chairman has not embezzled any money that belongs to the party as alleged. The records are there, except that Ms Oluchi Opara don’t even understand simple accounting even as a treasurer. An External Auditor is engaged by the party and our account is under constant scrutiny of INEC or other regulatory bodies.” Ifoh said Abure does not own several houses and property as spuriously alleged by the party’s National Treasurer, even though no law prohibits him from owning properties. He explained that the constitution of the Labour Party in Article 14:1b provides that the National Chairman shall be the Accounting Officer of the party while 14:1d “Shall approve all expenditures and shall be a signatory to the Party’s Bank account(s). NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

FEatures

T H I S D AY • Thursday, FEBRUARY 15, 2024

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

Yinka Olugbodi: The Team Builder Extraordinaire With an Honorary Doctorate in Leadership and Development and a Doctoral Fellow of the Institute of Leadership Manpower and Management Development, Yinka Olugbodi is a sought-after team development consultant and facilitator. Call him the "Team Builder" and you are not far from the truth. The Managing Consultant and CEO of Team Build International, TBI, a team development and training consultancy, who also doubles as the Lead Facilitator of TBI Academy, a full fledged team training and development facility dedicated to helping organisations train and develop the human resources, had worked with world class organisations in the financial sector before he veered to fulfil his passion as a Team Builder. Amongst other things, in this interview with Chiemelie Ezeobi, he shared how he pioneered focus on a genre in human resources for 15 years and created a niche

What exactly do you do? am the Managing Consultant and CEO of Team Build International. Team Building International (TBI) is a team development and training consultancy. We usually pride ourselves as the pioneer in starting a solely team development consultancy and training organisation in West Africa and a bit of team building. That's what I have been doing in the past 15 years. Can you explain Team Building further? Team building is actually a very genre in human resources and so what we've done is just to capitalise on that aspect and carve a niche in it because when we were starting 15 years ago, we saw there was a big demand in that area. We do a lot of team building trainings, team bonding events, executive retreats and we facilitate meetings for individuals, private sector, international organisations and even a number of government parastatals as well as state and federal ministries. Overtime, part of what we are doing is also to educate people on what team building is all about and the benefits especially in an environment or industry where we have a lot of inefficiency and dysfunctional systems. Usually that is always caused because it is very difficult for people to work together as a team. That is where we come in. I usually tell people as long as you are not working together or collaborating; as long as there is no cooperative behaviours among them, we have a job to do. It has been fantastic. So you can say for the past 15 years that you have done this, you have seen credible results after your trainings? Absolutely. And the good part of it is, it is even the return job. For example, three weeks ago, I was at one of the parastatals I don't want to mention their name here but I think four years ago, we had a corporate build team retreat with them. Corporate means everybody in the organisation. We started with the managers and above and every other person junior to the senior. I think they were about 100 staff. We did it four years ago and so they called us three weeks ago and what the HR manager was saying was that, that is the meeting she would never forget because it was so impactful. The impact of that is that people get to know one another. People get to know what makes you tick, what do I look out for if I want to work with you. What do I need to avoid? What do we need to compromise on? At the end of the day, all our meetings produces a productive team that still add benefits and productivity to all the organisations. So we over 15 years, it has been very tremendous. As a matter of fact, I have not seen any client (and we have done thousands of retreats and meetings) that would come back and say this wasn't impactful. So the return jobs are usually the testimonial that we have done a good job. Obviously in the past 15 years, there are people that would have come up to do what you are doing now, how have you navigated the marketplace so far? The first market strategy we did was a niche. We carved a niche. So for almost 10 years, we were not doing anything than team building. With that, we did not only carve a niche, we also created an identity for us. For example, if you go to social media, when people see me, they can't even remember my name, what they would say is Team Builder. It has become an identity. So, the first thing is that we created that niche. That was very intentional so that at the end of the day, people will always remember us. In terms of pioneering it, we can say we are not the pioneers. We are just one of the pioneers. But in terms of

Olugbodi we saying we are a team development consultant, we pioneered that. What usually happened before now was that there were trainings organisation that do training and development and all that. So part of it that they now do is team building, team development or meeting facilitation or executive retreat facilitation but for me, we are only doing anything team building. And there is a lot. It's almost as if you are operating and industry within an industry. So part of what we are also doing is educating people. One of the things we are doing this year now that is our 15th year is actually to institutionalise what we are doing. So we are starting what we call the Team Building Academy because it will also take care of the training. There are so many trainings we can do under that. Then because of my background as an HR person with strong bias for training and development or learning and development, we are going to be developing teams and also in collaboration with other training organisations. We can develop an HR team. We work with maybe ISTEM or the IPM or we can develop a safety team then we can would work with Hybrid which is one of the number one safety consultants. So is it safe to say that you are diversifying from just team building to other spectrums of Human Resources? We are not diversifying. It's more of team development. It's about you developing a team and now it's as if you are going into the practical aspect. If you want to build a Business Team, because of our background and understanding of the dynamics of what goes into putting people together, we can help out in that area. We can say one of our client is Lagos Business School. We can collaborate in that area because they have been building business teams in that area, then we bring the team development dimension just like what we have been doing. What we are doing now that is making it more is that a lot of people don't focus on this area and that goes back to answer that question. That is a business principle for me. I don't like doing what everyone else is doing. If I have to do what everyone else is doing, then I have to do it differently from what everyone

else is doing that looks new and that is one of our big advantage in the market- we do it professionally. We deliberately do that professionally because it actually defines what team building is all about. So you go beyond just theoretical trainings to practical? Absolutely. As a matter of fact it is over 65 per cent practical. We don't call it practical, we call it action learning method. So we use a lot of action learning methodologies in our system. When we talk about Action learning, we can use anything to buttress the learning point. So what we are supposed to do theoretically or give a lecture on, we demonstrate it. We demonstrate it through games, through activities, through experiential learning. Another aspect of action learning is experiential learning. So it's not just let's go to the beach and have fun. At the beach, we can create an atmosphere where the more experienced members of the team can now share their experiences and we pick out the learning points for the team helping us to understand that and build on it. So it's not just let's go out and have fun, everything is deliberate. Everything. The venue is deliberate. The kind of programme we do in terms of activities, in terms of games, activities and role plays is very deliberate. Everything has an objective which is the thing I always tell people. Everything you do must always have an objective. Let me take you back a bit. As one of the pioneers in team building in Nigeria, what was your thought process? What made you to say this is who I want to be and this is what I want to explore? That is part of the book I am writing now. It is called Team Building in Africa. It is a very pictorial book again. Not a book you have to read. It talks about the hundred best things that we work for in Africa and it talks about the begining. The beginning was fun really. I was mentored by

a very good HR leader in the country as an HR executive under a good Group HR when I was working with one of the multinationals. One of the things he introduced early when I was building my career that was over twenty years ago now in HR was the team bonding. So every month, we had to organise a team bonding event for the staff every month. But nothing too big. I think maybe quarterly we have to all go to a beach or go somewhere and have.... I mean it was just fun and he made it my responsibility. That was one of my own KPIs and job description and I just enjoyed it and that brought out the facilitation skill. One Monday morning, one of my colleagues who was driving into the office told me that one of his uncle working at Total Energies, then they were Total Nigeria, wants somebody to do an ice breaker. An ice breaker is just a short activity you do just to kickstart people and wake them up before a meeting. A five minutes ice breaker and I said okay, fine. I walked over to the place and I can't even remember what I did and everybody there was like wow. As I was leaving, the GM who is the uncle handed me an envelope. So, I wasn't expecting because it was just five minutes. The envelope was thrice my monthly salary. That was when the alarm blew in my head and the bright bulb was like if this guy can give me thrice my monthly salary for five minutes, what if it was a whole day session which I am used to. I googled team building facilitators and I found out that actually, what happened that they are calling me. I discovered that they are supposed to fly somebody from the US to come and do the team building which means if you have to fly in somebody from the US, nobody is doing it in Lagos, Nigeria, West Africa or Africa. That was how the business aspect came into my mind and right there and then I just did a business plan and I put it on the shelf and the right time came almost nine years or ten years later. What are the learning curves you've had so far? The major learning curve in starting a business is like you planting a seed. That is the major learning curve. That is very fresh in my mind because it is part of what I am writing in the book. The growth comes systematically just like any growth. The first three years that we planted let me use it metaphorically, we didn't see anything happening and majorly because my expectation was beyond what was supposed to happen. My expectation was just unrealistic at the beginning because I worked in a bank and I went from the bank to start this so, maybe my taste was a bit too high. So instead of getting a small space to start. I went to get a big space and two big training rooms for 50 people each. Furnished the whole place spent millions of money and for two years, nothing happened in that facility. Did you ever think of giving up? Of course. I had a lot of offers. I had offer to go back to my job, I had offer for HR directorship somewhere, I had offer to get out of the country, I had so many offers. As a matter of fact, I had offer even from one of the biggest insurance companies in Nigeria as the HR director and the last meeting was with the chairman of the bank. It was an interview which was just a chat because we had already conducted the last interview and he said young man this is not your passion, tell me about your passion. By the time I started telling him about team building, he said go for your passion. The story continues online on www.thisdaylive.com

T H I S D AY • THURSday FEBRUARY 15, 2024

images

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

L-R: Chief Transformation Officer, Ruff ‘n’ Tumble, Toyin Bajomo; Founder and Chief Responsibility Officer, Ruff ‘n’ Tumble, Adenike Ogunlesi; Founding Head, Charterhouse Lagos, John Todd; Chief Operating Officer, Charterhouse Lagos, Angela Hencher; and General Manager, Production, Gatimo Apparel, Daisy Yusuf, during the signing ceremony of Ruff ‘n’ Tumble as the official stylist for Charterhouse Lagos’ School apparels in Lagos…recently

L-R: Vice Chancellor, Federal University, Oye Ekiti, Prof. Abayomi Fashina; Leader of the Senate, Opeyemi Bamidele; and Chairman, Senate Committee on Appropriations, Adeola Olamilekan, after the conferment of honorary doctorate degrees on the senators at the eighth convocation of the university held in Oye Ekiti, Ekiti State…recently

L-R: National Director, Social Communication, Catholic Secretariat of Nigeria, Rev, Fr Mike Umoh; Deputy Secretary-General, Catholic Secretariat of Nigerian, Fr Michael Banjo; and Director of Mission, Dialogue Department, Catholic Secretariat of Nigerian, during the media parley with Catholic Secretariat of Nigeria’s Community in Abuja…recently PHOTO: ENOCK REUBEN

L-R: Group Head, Retail Sales, Lagos West, AXA Mansard, Ifueko Ighodaro; Group Head, Retail Sales, Lagos Mainland, Patience Onichabor; Regional Head, Retail Sales, Upcountry, Albert Chukwuemeka; Divisional Head, Retail Solutions, AXA Mansard Insurance, Jumoke Odunlami; Regional Head, Retail Sales, Lagos, Latifah Aliyu; and Head of Marketing, Olusesan Ogunyooye, during the official opening of the new AXA Mansard Welcome Centre in Lagos…recently

L-R: Minister of State for Youth Development, Mr. Ayodele Olawande, and the Director-General, National Youth Service Corps (NYSC), Brigadier-General Yushau Dogara Ahmed, during the minister’s visit to the NYSC National Directorate headquarters in Maitama, Abuja…recently

L-R: Secretary to Agboyi-Ketu Local Council Development Area (LCDA), Lagos State, Hon. Fatai Ganiu; Chairman, Agboyi-Ketu LCDA, Mayor Dele Oshinowo; Council Manager, Agboyi-Ketu LCDA, Mrs. Sonate Adebanji; and Supervisor for Works and Infrastructure for the LCDA, Aare Alaba Saliu, during a media housing projects tour led by Agboyi Ketu in Lagos...recently

L-R: Hub Operations Manager, ALX Nigeria, Helen Eboagwu; Funding and Partnerships Officer, Lagos State Employment Trust Fund (LSETF), Ufuoma Emonena; Country General Manager, ALX Nigeria, Ruby Igwe; member, National Executive Committee, Nigerian Bar Association (NBA), Tobenna Erijokwe; and Country Marketing Manager, ALX Nigeria, Seun Babajide-Duroshola, during a media parley organised by ALX Nigeria in Lagos…recently

T H I S D AY THURSDAY FEBRUARY 15, 2024 20 TR

UT H

& RE A S O

Thursday February 15, 2024 Vol 27. No 10533

opinion@thisdaylive.com

www.thisdaylive.com

PRIORITISING THE WELFARE OF PENSIONERS

KAZEEM AKINMOSA commends Lagos State for showing good example

See page 21

NIGERIA’S POULTRY SECTOR CRISIS There is urgent need to address soaring production cost, insecurity and high energy expenses, argues ELVIS EROMOSELE

See page 21 EDITORIAL

THE BAN ON SINGLE-USE PLASTICS…II

Institutions and individuals can beat inflation by investing in some assets, argues TIMI OLUBIYI

COST OF LIVING CRISIS AND INFLATION, WHAT’S NEXT? It is no news that many economies including Nigeria are currently experiencing inflation. In reality the last few months have been eventful, chiefly due to the inflationary pressure. Its impact has continued to have a severe impact on businesses, households, and cost of living. Even though inflation is a concept that affects all of us, but most importantly high inflation could be hostile to economy and business especially the micro, small and medium enterprises (MSMEs). With a persistent inflation, businesses and households usually perform poorly, and expectedly more money is paid for the same goods and services. This has been the troubling trend in Nigeria in recent times, where high price increases have been recorded in transportation, food cost, household needs, raw materials, pharmaceutical products, health care, motor cars, vehicle spare parts, equipment, and in prices of services, amongst others. Admittedly, inflation erodes our value of money, erodes the purchasing power of all of us and the poor becomes poorer. Therefore, the nexus of impact of inflation is the specific focus of this piece. However, it was mainly instigated by the continuous rise in the level of inflation rate in Nigeria in recent times. The consequences and impact of inflation (price instability) in Nigeria cannot be over-emphasized, we can all feel it. Inflation is simply seen as a persistent rise in the general price level of the broad spectrum of goods and services in a country over a long period. Largely, when prices of energy, food, commodities, goods, and services go up, it hurts all of us and hardship is heightened. A major driver of Nigeria's headline inflation has been the consistent rise in food cost. In recent times we have noticed daily rise in all price of commodities and food price which is already manifesting as cost of living crisis. Significantly, history and literature present some other factors adduced to the unsustainable economic growth in Nigeria apart from the high inflation rate, and it includes: the incessant insecurity in many parts of the country, rising foreign and domestic debt, currency exchange rate volatility,

propensity to consume more and save less, decrepit infrastructure and poor policy implications, among others. Regrettably, these issues can further compound and manifest in areas we already have deficit as a nation: staggering unemployment, rising cost of living, bleak business continuity, poverty level increase, illiteracy, crime, and terrorism. Another perennial issue is the country’s over-reliance on crude oil production revenue, which has posed problems due to exposure to global shocks. Based on the aforementioned and from the inflationary perspective, to achieve adequate price stability in the country, the government needs to reduce budget deficit, adopt significant structural policy reforms with monetary and fiscal policies. Such as reducing import duties on some essential items and commodities and so on. This will help to control inflation and maintain

The massive growth and developmental challenges of the country can improve by also promoting the human and SME ecosystem. The SME sector can play a major role in the economic growth of the country through the distribution of wealth, poverty reduction, and job creation

stronger growth rates in terms of improved Gross Domestic Product (GDP) and to stabilize the tide of inflationary pressures on the economy and in business operations. It is advocated that political leaders should minimize avoidable public spending, reduce spending on nondevelopment activities, address insufficient infrastructure, and build strong and effective institutions. The massive growth and developmental challenges of the country can improve by also promoting the human and SME ecosystem. The SME sector can play a major role in the economic growth of the country through the distribution of wealth, poverty reduction, and job creation. The sector is labor-intensive and can provide a reasonable reduction in the unemployment rate in the country but the government needs to provide an adequate enabling environment and support for the sector to strive. Considerably, institutions, businesses, and individuals have the opportunity to beat inflation by accelerating the preservation of capital and strengthening purchasing power with income addition. This can be done by acquiring investments, particularly assets such as real estate because they usually keep up with inflation. Remember N1,000,000 today will not acquire the same value of investments, goods and services in five years mainly due to inflation. Therefore, investing is key to hedge against a sharp inflation impact because it erodes the value of savings if funds are just left in the bank accounts. Supportively, it is imperative to consider investing in other currencies, diversify your investment portfolio internationally if you can, consider inflation-protected securities with potential for higher-growth like equities, Gold Shares ETF, or mutual funds. These can earn more interest returns per year than the inflation rate. Therefore the options are reasonable. It is also possible to start a business, cultivate passive income, and even buy items with a long shelf life today to mitigate the impact of inflation. Dr. Olubiyi is an Entrepreneurship and Business Management expert

4H I S D AY T22

T H I S D AY

THURSDAY FEBRUARY 15, 2024

EDITORIAL

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

EDITORIAL

THE BAN ON SINGLE-USE PLASTICS…II NGLE-USE PLASTICS…II

ake a stand on the use of plastics

It’s time to take a stand on the use of plastics

ban. In Gabon, there is a prohibition of the import ban. In Gabon, there is a prohibition of the import and marketing of non-recyclable plastic bags – which and marketing of non-recyclable plastic bags – which doesn’t help much considering that only 9 per cent of all doesn’t help much considering that only 9 per cent of all enya leads the way with the strictest ban plastic ever gets recycled. plastic ever gets recycled. on single-use plastic in the world. And it’s In 2014, Cameroon placed a ban on non-biodegradable In 2014, Cameroon placed a ban on non-biodegradable clear how this title was earned: importing, plastics. The ban covers the importation, production, and plastics. The ban covers the importation, production, and manufacturing, or selling single-use sale of single-use plastic items, and followed a ministerial sale of single-use plastic plastic bags could earn companies a fineitems, and followed a ministerial calculation that the country dumped more than six country dumped more than six of $40 000; usingcalculation one, on thethat otherthe hand, million tonnes of plastic waste annually. Cameroon million tonnes of plastic waste annually. Cameroon could see individuals slapped with a $500 fine. Even has struggled to implement the ban, facing numerous has struggled to implement the ban, facing numerous though plastic bags are still smuggled into Kenya, the obstacles in terms of plastic waste management systems obstacles termsInofJune plastic waste management systems ban has been considered successful by in many. and infrastructure. Moroccan consumption of the raw and infrastructure. Moroccan consumption of the raw 2019, Kenya’s president announced a ban on the use of material used in manufacturing plastic bags dropped material used in manufacturing plastic bags dropped single-use plastics in protected areas. by 50 per cent since its plastic bag ban came into by Rwanda, 50 per cent since But there is still work to be done. despite theirits plastic bag ban came into effect in 2015. In Zimbabwe, apart from plastic bags effect inproblem, 2015. In and Zimbabwe, apart from plastic bags successes, shares Kenya’s smuggling it used for bread, the manufacture for use, commercial used for bread, the manufacture for use, commercial seems that implementation distribution, or importation distribution, or importation is a shared problem of plastic packaging with a of plastic packaging with a across the continent, with wall thickness less than 30 wall thickness less than 30 enough local a nuance to We urge the federal government to institute a law banning the use rnment to institute law banning the use micrometers are prohibited, micrometers are prohibited, make anybody scratch of single-use plastic and ensure that Nigeria becomes a party to the biodegradable or not. ensure that Nigeria becomes a party to the biodegradable or not. their heads. In Mauritius, Also, no ink shall be used Also, no ink shall be used the law was promulgated legally binding instrument on plastic pollution, including ng instrument on plastic pollution,international including for printing on plastic for printing on plastic in August 2015, and and plastic bottles unless and plastic bottles unlessenvironment in the marine strictly prohibits import, e marine environment the ink and the printing the ink and the printing manufacturing, sale or comply with compulsory comply with compulsory supply of plastic bags. T H I S D AY T H I S D AY specifications. However, in 2016, the Mauritianspecifications. government exempted a EDITOR SHAKA MOMODU EDITOR SHAKA MOMODU The UNEP has published the revised draft text of The means UNEP that has plastic published the revised draft ofWALE OLALEYE ofOLALEYE plastic bags from the ban. Which DEPUTYtext EDITOR DEPUTY EDITORlist WALE the international legally binding instrument on plastic the international legally binding instrument on plastic MANAGING DIRECTOR ENIOLA BELLO ban is being partially implemented. Plastic pollution in ANAGING DIRECTOR ENIOLA BELLO pollution, including in the marine environment. The DEPUTY MANAGINGThe DIRECTOR ISRAEL IWEGBU in the marine environment. Y MANAGING DIRECTOR ISRAEL IWEGBU the Democratic Republic of thepollution, Congo hasincluding been linked BOARD OLUSEGUN ADENIYI revised draft text identifies primary plastic polymers; AN EDITORIAL BOARD OLUSEGUN ADENIYI draft text Rivers identifies primaryCHAIRMAN plastic EDITORIAL polymers; to flood-related deaths in the revised past. The cause? EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN chemicals and polymers of concern; problematic and NATION’S CAPITAL IYOBOSA UWUGIAREN polymers and and sewage systems blocked chemicals by plasticand rubbish – a of concern; problematic THE OMBUDSMAN KAYODE KOMOLAFE E OMBUDSMAN KAYODE KOMOLAFE avoidable plastic products, including short-lived and avoidable products, including short-lived and government completely avoidable consequence. Theplastic single-use plastic products and intentionally added single-use plastic products and intentionally added banned the manufacture and sale of plastic bags and microplastics; and micro and nano plastics. Options microplastics; and micro and nano plastics. Options bottles, but implementation remains a challenge. relating to extended producer responsibility (EPR) relating to extended In 2007, Botswana established a minimum thicknessproducer responsibility (EPR) schemes, emissions, and releases of plastic throughout T H I S D AY N E W S PA P E R S L I M I T E D schemes, emissions, and releases of plastic throughout S D AY N E W S PA P E R S L I M I T E D for bags and mandated that retailers apply a minimum EDITOR-IN-CHIEF/CHAIRMAN its lifecycle, waste management, and trade are also listed. IN-CHIEF/CHAIRMAN OBAIGBENA its lifecycle, waste management, and trade are also listed. NDUKA OBAIGBENA levyNDUKA to thicker bags, which would be used to support EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, VE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, We therefore urge the federal government to institute We therefore the federalGROUP government to institute government environmental projects. Manyurge retailers ISRAEL IWEGBU, EMMANUEL EFENI SRAEL IWEGBU, EMMANUEL EFENI its law banning the use of single-use plastic and ensure its law banning the use of single-use plastic and ensure charged more than the minimum tax, and prices DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, DIRECTORS SHAKA MOMODU, PETER IWEGBU, that Nigeria becomes a party to the international legally legally that Nigeria becomes a party to the international fluctuated over time. A study of four retail chains 18 ANTHONY OGEDENGBE ANTHONY OGEDENGBE binding instrument on plastic pollution, including in the instrument plastic pollution, in the OJOGUN VICTOR DANBOYI DEPUTY including DIVISIONAL DIRECTOR months implementation ofbinding the charge showedon that ISIONAL DIRECTOR OJOGUNafter VICTOR DANBOYI marine environment. SNR. ASSOCIATE DIRECTOR ERIC OJEH marine environment. NR. ASSOCIATE DIRECTOR ERIC OJEH bag use fell by half. In 2018, the Zambian government ASSOCIATE DIRECTOR PATRICK EIMIUHI With a global push for the ban of plastic, Nigeria SOCIATE DIRECTOR PATRICKthe EIMIUHI With a such global Nigeria banned use of packaging materials as push plasticfor the ban of plastic, ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI MBOLA TAIWO, UCHENNA DIBIAGWU, MOSERI must take a stand and begin the use of alternatives. The take a stand andno beginCONTROLLERS the use of alternatives. The bags and their NDUKA resultant waste.must However, there are DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO PRINTING PRODUCTION CHUKS ONWUDINJO benefits are huge. benefits are huge.of this existing regulations on the implementation TO SEND EMAIL: first name.surname@thisdaylive.com EMAIL: first name.surname@thisdaylive.com Continued from yesterday

tters to the Editor

Letters to the Editor

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

LETTERS LETTERS KADUNA LEVELS SET FOR NEW INFRASTRUCTURE LEVELS EW INFRASTRUCTURE

ment projects; retoolControl them for optimal efficiency in project manKaduna State isinset to ramp up the provision of infrastructure ing on Project Control and Construction Quality that ool them for optimal efficiency project management and control and impart in their cost-efficiency skills so Uba Sani,skills the governor, believes The goodcourse and qualiprovided comprehensive and practical trol and imparttoinnew theirlevels. cost-efficiency so I attended. government gets value for money. ty infrastructure will help his government realise the dream knowledge, equipping meofwiththe the necessary skills to ensure gets value for money. Kadunaprojects. Sate is the state government to expose its cruKaduna the preferred for investors. Howhigh-quality standards in construction Thefirst trainers s the first statemaking government to expose its cru-destination cialengaging, project managers to this level of global best practices. Othever, excellent andOthsustainable requires and were infrastructure highly knowledgeable making the learngers to this level of building global best practices. er state governments arethat encouraged to follow suit because of skilled to project managers. For this Uba decided to equip ing experience enjoyable and insightful. I am confident the ents are encouraged follow suit because of reason, the enormous benefits this brings to the quality of projects they toptogovernment managers with thehas latest knowledge significantly enhanced my abilities in overseeing nefits this brings the quality ofproject projects they training deliver. Participants andgovernment skills in project control and construction quality manage-construction and maintaining top-notch quality". include high government officials, policynts include high officials, policymakers, and civil servants – a Permanent Secretary, a Senior Permanent Secretary, Mr. Habib Lawal commented, "Kudos l servants – ament. Permanent Secretary, a Senior Adviser to the Governor The governor identifiesfrom the best training andorganization consulting forSpecial to the training delivering an engaging project on projects and directors from o the Governor on projects and directors the Ministry of Works. firms in Nigeria and abroad that will helptraining provide in thesuch highest control a conducive atmosphere! The diverse Works. The resource persons quality resource persons with the knowledge and skills on the to ourand pro-facilitators were top, hands-on persons and facilitators were top, hands-on topics discussed were enriching and highly relevant project managers andusformer government officials with knowlglobal bestofficials practices in this area. He pickedThe world-class trainfessions. training has undoubtedly empowered with the and former government with knowlexperience of the project Penhall and Zoe knowledge Talent Solution UAE, to inedge and of tools to excel our and respective roles in of- control and quality manageence of projecters, control andConsulting quality management learning in a dynamic, volatile, and unstable environment like provide theseenvironment essential capabilities enhancing training top Thank you for a for truly impactful experience!" mic, volatile, and unstable like fice. Nigeria. understand the peculiarities and nuances of managers Kaduna State Delivering high-quality projects starts They with the quality of the nderstand theproject peculiarities andin nuances of government. managing and underpin local best practices participants were taken to Kigali one weekand of intenprojectforexecutors monitors. Kaduna projects State is in onNigeria the right ts in Nigeria andThe underpin local best practices and innovative solutions in project trainingsolutions on project project control, and con-in allwith to maximising value the global, projectscutting-edge, through practical ing-edge, and sive innovative inmanagement, project track controlstates and quality control. this struction quality management. Theprojects aim wasand fourfold: build the Other quality control. must emulate ty control. Commenting the training, public service projectbold managers and bringtheir themstaff for step to empower high-qualityon project impact. which took place from January on the training,capabilities which tookof place from January 29 to February 4, 2024, the Special Adviser to the Governor on up to date with global best practices; empower them with skills Musa Hassan, 2024, the Special Adviser to the Governor on knowledge Abuja "I feel delighted with the trainMusa, stated,and "I feel delightedthat withguarantee the train-top quality for all state govern- Projects, Dr Baba Musa, stated,

ing on Project Control and Construction Quality Control that I attended. The course provided comprehensive and practical knowledge, equipping me with the necessary skills to ensure high-quality standards in construction projects. The trainers were highly knowledgeable and engaging, making the learning experience enjoyable and insightful. I am confident that the training has significantly enhanced my abilities in overseeing and maintaining top-notch construction quality". Permanent Secretary, Mr. Habib Lawal commented, "Kudos to the training organization for delivering an engaging project control training in such a conducive atmosphere! The diverse topics discussed were enriching and highly relevant to our professions. The training has undoubtedly empowered us with the knowledge and tools to excel in our respective roles in the office. Thank you for a truly impactful learning experience!" Delivering high-quality projects starts with the quality of the project executors and monitors. Kaduna State is on the right track to maximising value in all the projects through practical projects and quality control. Other states must emulate this bold step to empower their staff for high-quality project impact. Musa Hassan, Abuja

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

T H I S D AY • Thursday, February 15, 2024

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

F e b r u ar y

S & P INDEX

1 4 , 2 0 2 4

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 to daTE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT Monday, July 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Expert: How Africa’s Central Banks Will Facilitate Cross-border Payment, Trade, Investment within Africa

Emma Okonji The Chief Executive Officer of Pan African Payment and Settlement System (PAPSS), Mr. Mike Ogbalu III, has stressed the role of Central Banks on the African continent, in facilitating trade and investment flows within Africa, which according to him, will enhance the use of African currency for cross-border payments. Ogbalu III, in a statement, while reacting to the recent expansion of PAPSS to include Tunisia’s Central Bank, known as Banque Centrale de Tunisie (BCT) into its network as its thirteenth Central Bank member, said the expansion would further strengthen PAPSS’ commitment to

promoting seamless cross-border payment services and enhancing financial integration across the African continent. According to him, “We are thrilled to welcome Banque Centrale de Tunisie as our thirteenth member and first Central Bank in North Africa. Their inclusion highlights the growing recognition of PAPSS’s transformative role in simplifying cross-border payments on the continent. As PAPSS continues to expand its membership base, we are encouraged by the commitment of central banks in facilitating trade and investment flows within Africa. This represents another step towards realising our collective aspirations for an

integrated African market.” Financial experts in Nigeria had before now, complained about the increasing popularity of the dollar against the naira, as merchants continue to carry out cross-border payments in foreign currencies, especially in dollars, to the detriment of the naira and other African currencies. Worried by the development that has continued to weaken the African currencies, the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, in 2022, launched the Pan African Payment and Settlement System (PAPSS),

to promote seamless cross-border payment services and to enhance financial integration across the African continent. PAPSS therefore facilitates realtime settlement of intra-African trade and payments in African currencies across the continent. By uniting central banks from across Africa, PAPSS seeks to address the existing challenges faced by African businesses and individuals in accessing efficient and cost-effective cross-border payment services. “PAPSS has steadily expanded its footprint in Africa, now establishing itself in four regions. This network includes 13 central banks, with six in the West African Monetary Zone (WAMZ) region (Nigeria, Ghana,

Guinea, Gambia, Liberia, and Sierra Leone), three in East Africa (Kenya, Rwanda, and Djibouti), three in Southern Africa (Zimbabwe, Zambia, and Malawi), and one in North Africa (Tunisia). Additionally, it is anticipated that more central banks will join the platform throughout the current year,” Ogbalu III further said. As a centralised Financial Market Infrastructure (FMI) that enables the efficient flow of money securely across African borders, minimising risk and contributing to financial integration across the regions, PAPSS works in collaboration with Africa’s central banks to provide a payment and settlement service to which commercial banks and licensed payment service providers across

the region can connect as participants. Announcing the entry of Banque Centrale de Tunisie (BCT) into its network, as its thirteenth Central Bank member, Executive Vice President of Afreximbank, Dr. George Elombi, said: “At Afreximbank, we have unwavering confidence that PAPSS will revolutionize the payment landscape within Africa, ultimately benefiting our people. We extend our heartfelt gratitude to Banque Centrale de Tunisie for their trust and decision to join the PAPSS network, as it signifies a significant step towards achieving our shared goals.” The story continues online on www.thisdaylive.com

NACCIMA to NLC: Basis for Proposed N1m Minimum Wage Must Be Reviewed Oluchi Chibuzor The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye, has reiterated the need to follow due process and ensure that all discussions around the adjustment of the minimum wage are based on a comprehensive understanding of the facts and implications and that the new wage is reflective of the nation’s economic realities. Oye spoke in a letter in response to the recent interview given by the President of the National Labour Congress (NLC), Mr. Joe Ajaero,

on Arise Television, the broadcast arm of THISDAY Newspapers, regarding the proposed new monthly minimum wage of N1 million. The NACCIMA boss noted that it would be premature and unfair for NACCIMA or any other member of the recently constituted 37-man Committee to join issues with the NLC President or engage in public debates on the matter without first having the opportunity to review the facts and basis of the proposed N1 million minimum wage. According to Oye, “I am writing in response to the recent interview given by the President of the National Labour Congress

(NLC), Mr. Joe Ajaero, on Arise Television, regarding the proposed new monthly minimum wage of N1 million. “First and foremost, NACCIMA acknowledges the critical role played by the Nigerian workforce in driving the economic growth and development of our nation. It is the hard work and dedication of our workers that sustain the businesses and industries that NACCIMA proudly represents. We also recognize that the current economic climate, characterized by high inflation and a depreciating Naira, exerts significant pressure on the standard of living of workers and their families.

“However, we must emphasize the importance of following due process and ensuring that all discussions around the adjustment of the minimum wage are based on a comprehensive understanding of the facts and implications. “As such, it would be premature and unfair for NACCIMA or any other member of the recently constituted 37-man Committee to join issues with the NLC President or engage in public debates on the matter without first having the opportunity to review the facts and basis of the proposed N1 million minimum wage.”

The NACCIMA boss charged, “We encourage all parties involved to approach this issue with a spirit of cooperation and constructive dialogue. NACCIMA is committed to working alongside the NLC, the Federal Government, and other stakeholders to ensure that a fair and sustainable wage structure is established, one that reflects the economic realities of our nation and the welfare of our workforce.” He further noted, “In anticipation of the committee’s discussions, NACCIMA appeals to all parties to exercise patience and to prepare for negotiations that are founded on empirical

data, economic analysis, and the shared goal of economic stability and prosperity for all Nigerians. “We stand in solidarity with the Nigerian workers in their pursuit of fair compensation. At the same time, we must balance this with the capacity of employers and the broader economic implications of wage adjustments. NACCIMA looks forward to contributing to a dialogue that will ultimately lead to a balanced and equitable resolution that safeguards the interests of workers, businesses, and the national economy.” The story continues online on www.thisdaylive.com

M a r k e t d ata A s at W e d n e s d ay, F e b r u a r y 1 4 , 2 0 2 4 BONDS Description Price Yield Change Updated Time (%) ^13.53 23February 101.49 12.13 -2,00 14, 2024 MAR-2025 February ^12.50 221,00 14, 98.58 13.31 2024 JAN-2026 ^16.2884 17February 108.25 13.03 -1,00 MAR-2027 14, 2024 ^13.98 23February 101.70 13.42 -38,00 FEB-2028 14, 2024 ^14.55 26February 103.63 13.55 -96,00 14, APR-2029 2024

BILLS Maturity

Discount Yield

Change (%) Updated Time

Maturity

NTB 8-Feb24 NTB 7-Mar24 NTB 11-Apr24 NTB 9-May24 NTB 6-Jun24

2.14

February 0.00 14, 2024

2.91

2.93

February 0.00 14, 2024

3.88

3.92

February 0.00 14, 2024

4.66

4.73

February 0.00 14, 2024

5.56

February -0.01 14, 2024

CRSL CP II 18-FEB-24 FLOURMILLS CP III 29-FEB-24 UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24 MTNN CP VII 14-MAY-24

5.43

OTC F X F U T U R E S

CPs Discount Yield 9.97

10.10

11.53

11.74

9.27

9.45

10.76

11.10

9.31

9.63

Change (%)

Updated Time

February 1,00 14, 2024 February 3,00 14, 2024 February 4,00 14, 2024 February -8,00 14, 2024 February -24,00 14, 2024

Contract Current Tenor Contract Rate ($/₦) (Month) NGUS JAN 13 – 29 2025 NGUS FEB 14 – 26 2025 NGUS MAR 15 – 26 2025 NGUS APR 16 – 30 2025 NGUS MAY 17 – 28 2025

Updated Time

February 14, 2024 February 14, 2024 February 14, 2024 February 14, 2024 February 14, 2024

Thursday, February 15, 2024 • T H I S D AY

BUSINESSWORLD

Interview

Yusuf: The Alternative Bank Will Leverage Technology for Efficiency Managing Director of The Alternative Bank, Hassan Yusuf, speaks about how his bank is leveraging emerging technologies like AI, IoTs to drive the future if banking in Nigeria and beyond, with the purpose of achieving quicker, improved and cost-effective banking services. Emma Okonji presents the excerpts: The Alternative Bank is being positioned as the future bank. What are its unique banking propositions that differentiate it from the regular banks? he Alternative Bank is positioning itself as the bank of the future. Distinguishing itself from traditional banks, we embrace a ‘Banktech’ approach. This involves leveraging our expertise, simplifying operations for quicker, improved, and more cost-effective services. Additionally, we utilise our commercial bank balance sheet for innovative customer service and efficient capital deployment. Our commitment to combining these ideologies is how we plan to not just meet but exceed expectations.

“The bank’s ethical approach and investment in long-term economic prosperity are not just welcomed but celebrated as a precursor of progressive and inclusive banking. As we look to the future, our vision includes bringing this model of banking to more northern states, adapting to local needs, and enriching communities with our unique blend of ethical and profit-sharing principles. We are excited to pave new roads for banking in the north, fostering partnerships and financial solutions that resonate well with the people’s values and needs.”

As a digital bank, how are you leveraging emerging technologies like Artificial Intelligence (AI) Internet of Things (IoTs) to enhance operations? As a digital bank, we prioritise efficiency and effectiveness through technology. With a customer-centric focus, we harness the power of modern technologies like Artificial Intelligence and Internet of Things. Our commitment lies in proactively addressing challenges before they are apparent to our customers and partners. This approach aligns with our ‘Banktech’ strategy, ensuring a proactive and innovative banking experience. What are the digital banking options and services available to customers? Customers have access to digital banking options and services, including Altbank, Altpro, and USSD. You are entering the financial sector at a time when some Nigerians are discouraged to save their money with any bank because of the rising level of online fraud that is hitting hard on the banks. How do you intend to address cyber threat, especially with insider collusion? We have put control measures in place to address this as a bank. We are in business because of our customers and safeguarding their assets is our top priority. We have a unit that ensures that all customer information and data are secured. The Central Bank of Nigeria is keen about the safety of bank customers and has enforced several policies on digital banks. How well is your bank positioned to comply with CBN’s policy and what are your views about regulation of digital banks like The Alternative Bank?

Yusuf

As a compliant bank, we are in tune with the CBNs policies and regulations and have put in place processes to ensure that the bank always adheres. As a new entrant into the Nigerian financial space, how will you deal with existing competition in the sector? The Alternative Bank aims to stay competitive through a focus on ongoing innovation and adaptability. In addition, the bank will cultivate an innovative culture, encouraging employees to propose service enhancements and embrace emerging technologies. By swiftly adapting to market changes, introducing inventive financial products, and sharing benefits with customers, we intend to set ourselves apart in this dynamic financial landscape. What are some of the packages in

“As a digital bank, we prioritise efficiency and effectiveness through technology. With a customer-centric focus, we harness the power of modern technologies like Artificial Intelligence and Internet of Things. Our commitment lies in proactively addressing challenges before they are apparent to our customers and partners. This approach aligns with our ‘Banktech’ strategy, ensuring a proactive and innovative banking experience.”

terms of service offerings that will attract customers to The Alternative Bank? We offer enticing service packages, including account products like Swift, Savings, Current, and Corporate, along with unique bank products such as Altdrive, Altmall, Althome, Altpower, Wastebanc, Altinvest, etc. Our offering at The Alternative Bank is designed for the discerning customer, combining practicality with innovation. For instance, AltHomes facilitates a smooth transition into homeownership, while AltDrive turns the aspiration of a new vehicle into reality. AltInvest allows for strategic growth of personal wealth. In line with sustainable practices, AltPower connects customers to clean energy, and WasteBanc rewards eco-friendly recycling habits. Altmall complements this suite with a zero-interest marketplace, ensuring our customers enjoy comprehensive and conscientious banking experience. What are the processes of opening an account with The Alternative Bank and how easy and simplified is your banking interface? Opening an account with The Alternative Bank is a breeze through either the online platform or the Altbank app, providing a user-friendly experience with account numbers generated within minutes. Alternatively, by completing a form and submitting all necessary documents, account numbers are generated within 24 hours.

The Emir of Kano recently endorsed The Alternative Bank. How did the people of Kano receive the bank and what are your plans to expand the footprint to other northern states? The warm reception by the people of Kano, inspired by the Emir’s endorsement, speaks volumes about the alignment between The Alternative Bank&#39;s values and the community’s aspirations. The bank’s ethical approach and investment in long-term economic prosperity are not just welcomed but celebrated as a precursor of progressive and inclusive banking. As we look to the future, our vision includes bringing this model of banking to more northern states, adapting to local needs, and enriching communities with our unique blend of ethical and profit-sharing principles. We are excited to pave new roads for banking in the north, fostering partnerships and financial solutions that resonate well with the people’s values and needs. Tell us more about the relationship with Sterling Bank as many still do not understand the uniqueness of both organisations The Alternative Bank started in 2014 as Sterling Alternative Finance, after the Central Bank of Nigeria licensed then Sterling Bank Plc to operate a non-interest banking business and has since grown to become one of the largest ethical banks in Nigeria’s non-interest banking sector. With the recent completion of Sterling’s transition to a full-fledged financial holdings company, The Alternative Bank will operate as the non-interest banking subsidiary of the Group, while Sterling Bank Limited will continue to provide conventional banking services.

Thursday, February 15, 2024 • T H I S D AY

BUSINESSWORLD

news

Huawei, arravo Harp on MSP Solution for Business Growth Emma Okonji Huawei Technology and its partner, arravo technology solutions provider, on Wednesday in Lagos, showcased the arravo Managed Service Platform (MSP) solution that allows businesses scale-up for profitability. The MSP solution, which is cloud-based, with embedded Artificial Intelligence (AI) feature, allows businesses to focus on their core operations, while arravo

deploys the MSP solution, which is a full managed solution package that helps organisations to save cost. In his presentation, the Director, Enterprise Solutions for arravo, Mr. Ayantola Olaayan, said the arravo MSP solution is the first cloud managed solution for network device to be hosted locally in Nigeria. According to him, before now, organisations used cloud service providers to manage their networks from a remote location, but arravo was able to bring the solution to Nigeria

to be hosted locally in Nigeria to serve more businesses. “To allay the fears of our customers about data sovereignty, arravo decided to host the MSP solution locally, which is a solution that can manage network devices for businesses,” Olaayan said. Speaking about the benefits of MSP to customers, he said it would help businesses to reduce their Capital Expenditure (CAPEX) and Operating Expenditure (OPEX), since the customer will not invest to own its own private cloud,

adding that Huawei and arravo are introducing the Managed Service Platform (MSP) solution that helps organisations to better manage their business for greater profitability. He explained that solution would simplify the deployment and management of organisation’s network, as well as give clear visibility into the organisation’s network. The General Manager, Cloud and Infrastructure at arravo, Mr. Obuseh Thompson, said the MSP solution remained secured and

IXPN Establishes Point of Presence at Open Access Data Centres

Firm, FUNAAB Partner for Entrepreneurial Poultry Project

The Internet Exchange Point of Nigeria (IXPN) has activated its Point of Presence (PoP) at OADC Lagos, which is owned and operated by Open Access Data Centres (OADC), one of Africa’s fastest-growing data centre operators. This makes it easier for service providers operating within the Lekki site to interconnect, while new and existing customers will have additional options for connecting to IXPN. With the activation at the OADC facility, IXPN is now available at seven data centres, making it the only IXP accessible from all the major data centres operating in Lagos. IXPN is equally available in Abuja, Port Harcourt, Kano, Enugu, and Gombe. This is complementary to OADC’s stated intention to establish edge data centres as

Fueled by a shared vision of nurturing future agricultural leaders and boosting Nigeria’s food security, natnudO Foods, the food processing arm of Amo Farm Sieberer Hatchery Limited, has joined hands with the Federal University of Agriculture, Abeokuta (FUNAAB) in an innovative initiative. According to a statement issued to announce the strategic partnership, natnudO Foods is donating 1,000 broiler chicks, feeds, and medication to the university’s Department of Agriculture, as part of its “Natnupreneur University Programme.” The programme is not just about raising chickens; it’s about empowering young minds with the skills and knowledge to become successful agribusiness entrepreneurs. This unique

part of its core-to-edge data centre strategy, locating data centres and IXPs closer to the point of content consumption. Chief Executive Officer of IXPN, Mr. Muhammed Rudman, said: “We are happy to announce that our Point of Presence (PoP) is now live at OADC Lagos. The idea behind the activation of its PoP at OADC is to give IXPN’s members opportunity to be in all the data centres in Lagos. With this activation, IXPN services are now available and accessible to all network providers, providing them with affordable services and the opportunity to connect at multiple points. We want to be available and accessible to all service providers, and that’s why we are expanding our tentacles to every major data centre in Lagos and as well as in other states.”

initiative provides an invaluable platform for students to gain hands-on experience while contributing to their development and the university’s well-being. Senior Account Officer at natnudO Foods, Ms. Omole Iyabo Morenike, further equipped the students with essential financial skills. Budgeting, bookkeeping, and managing profit margins are the cornerstones of any successful business, and the Natnupreneur University Programme ensures students are well-equipped to navigate the financial aspect of their poultry ventures. The initiative is about catching them young, training them as entrepreneurs with the fundamentals of raising broilers and selling them back, creating a ready market for their produce.

designed to protect users from getting hacked. According to him, the solution is fully encrypted and prevents hackers from getting unauthorised access into organisation’s network, adding that the MSP solution ensures full protection of the customers’ data. Network Solutions Sales Manager at Huawei, Mr. Atabor Hamza, in his presentation on Huawei Cloud Campus Solution, said the solution would enable the growth of the modern day

campus network. Stressing the dominance of emerging technologies like Artificial Intelligence (AI), Big Data, among others, and how they influence the way networks are being accessed, Hamza said: “Huawei Cloud Campus Solution cuts across all different sectors like the health sector, manufacturing sector, among others. Huawei invests heavily in research and development and commits over 22 per cent of its annual revenue on global research and development.”

Konga Wins Top Retailer Award at HP 2024 Retail Bootcamp Trusted e-commerce platform, Konga, has once again established its dominance by winning the Top Retailer in the Supplies Category award at the recently concluded Retail Bootcamp organised by Hewlett Packard. The two-day event, which was held at the Radisson Blu Anchorage Hotel in Victoria Island, Lagos served as a vibrant platform for knowledge sharing, insightful discussions, and industry networking. The HP Retail Bootcamp brought together key players in the Nigerian retail landscape and served as a platform to explore innovative strategies focused on improving the retail industry in Nigeria. The award as the Top Retailer in the Supplies Category is a testament to Konga’s steadfast dedication to excellence, innovation, and customer satisfaction.

As a major partner with HP, Konga continues to leverage cutting-edge technology, strategic partnerships, and a customer-centric approach to redefine the retail landscape and set new benchmarks for success. Commenting on the award, the Chief Executive Officer at Konga, Nnamdi Ekeh, said: “We are deeply honoured to be recognized as the Top HP Supplies Retailer at the Retail Bootcamp 2024. This award is a reflection of our dedication to exceeding customer expectations and providing them with access to a wide range of genuine HP supplies at competitive prices. We are grateful for the trust HP has placed in us, and we remain committed to strengthening our partnership for the mutual benefit of both companies and, most importantly, our customers.”

T H I S D AY • Thursday, February 15, 2024

BUSINESSWORLD

BRANDS & MARKETING

Empowering SMEs to Optimise Efficiency Raheem Akingbolu writes on the need for stakeholders and promoters of small and mediumsized enterprises, to prioritise training and empowerment to enhance client’s satisfaction, citing the Seven-Up Bottling Company’s SMEs Bootcamp as a good example

n the rapidly advancing world, small and medium-sized enterprises (SMEs) grapple with the constant challenge of maintaining competitiveness while meeting the ever-increasing demands of their clientele. Experience has since shown that many factors come into play in setting standards and creating a niche in the market but perhaps the most important is training and empowerment. To this end, some organisations have since sprung up to fill the gap. One such intervention was the recent two-day Scale-Up Bootcamp for budding business owners, promoted by Seven-Up Bottling Company, in partnership with Zenith Bank and United Nations Industrial Development Organization (UNIDO). The bootcamp, themed “Dream big, Scale Bigger”, was aimed at providing SMEs with practical strategies for scaling. Among other benefits, participants at the bootcamp were provided with a streamlined approach to enhance resource management, cater to client requests, and handle critical instances. With its user-friendly interface and unwavering commitment to empowering businesses, it is believed that the company has emerged as a transformative force for SMEs in Nigeria, thereby revolutionising the way they operate.

Experts’ Input

The beauty of the two-day session was that it exposed the Chief Executive Officers of 80 SMEs to growth experience of experts such as the Managing Director of Seven-Up Bottling Company, Ziad Maalouf, and GM of Marketing Seven-Up Bottling Company, Segun Ogunleye. Besides, the bootcamp also had impactful sessions facilitated by GDM, Zenith Bank’s Head of Retail Banking, Lanre Oladimeji; the National Director, UNIDO, Oluyomi Banjo; former Chief Executive Officer, the Federal Competition and Consumer Protection Agency (FCCPC), Babatunde Irukera, and the Founder, Thrive HR, Adeshola Aliogo. In addition to the aforementioned, the ScaleUp Bootcamp 1.0 provided attendees with the requisite corporate, people management, and financial management strategies crucial for scaling. In particular, the bootcamp provided insight to at least 10 knotty issues hampering the growth of the SMEs in the country. Under what was tagged ‘identify your ‘sweet spot’, Maalouf opined that a business aiming to scale must have the right combination of experience, passion and value to meet a global need. According to him, this combination provides the sweet spot. Maalouf advised entrepreneurs that if their current business fails to match all three aspects, there’s a need for reconsideration.

Team Evaluation

Another major tip touched by the facilitators at the camp centered around the importance of team evaluation and incentives to small businesses. It was stated that while fresh and quality recruitment might be needed to drive the growth of business, there is also the need for critical evaluation of the team. According to Maalouf, there’s a need to evaluate the team based on performance and value. Those below average should be allowed to go and the average and high performance should be motivated. “Create a performance and incentive framework. The majority of employees are not motivated by salary. Convert your employees to shareholders with incentives for performances and watch that team you think is average produce results that scale your business,” he said. It was also pointed out that look-alike recruitment breeds stagnation. To this end, business owners were urged that one of the ways to boost their businesses, they must have the right combination of people. To have the right mix, entrepreneurs were advised to avoid the lookalike requirement trap. To drive business growth, a SABI (Strive, Accountability, Bonding and Innovation) formula was recommended for SMEs. The team should consist of strivers who get things done, the accountable ones with strict adherence to processes; the social ones

“What many entrepreneurs don’t know is that customers are willing to pay more if you offer the value. This is what gives an edge over a competitor. When you have the value that the world needs, customers will neglect other products for yours.” and innovators who are the ideation hub of the business. To succeed in business, another takeaway from the event was the need for businesses to seek business transformation advice. To achieve growth, SMEs must be open to criticism and evaluation. Owners should not think they could grow the business all by themselves. There’s a need to seek insight from experts and also learn from competitors when needed. Like other businesses, Maalouf harped on the importance of networking to business growth. He emphasised that startups often overlook the importance of networking. He asserts, “Your business won’t scale up until you elevate your relationships.” Additionally, he underscores the significance of a robust network in times of crisis, stating, “If you are scaling up, you need to be prepared for crises, as they will inevitably confront you, especially as a big company.”

Lessons Learnt

Having learnt many entrepreneurial lessons during his growth trajectory in the corporate world, Maalouf urged the SMEs to increase their willingness to pay. According to him, this is tied to creating value that will make the customer want to pay more for your product or service. He said businesses willing to scale must provide functional, social, and emotional value. “What many entrepreneurs don’t know is that customers are willing to pay more if you offer the value. This is what gives an edge over a competitor. When you have the value that the world needs, customers will neglect other products for yours.” The event also touched on another sensitive area about job delegation because of the common practice among entrepreneur’s to get involved in all aspects of their enterprise. Experts at the bootcamp advised that as leaders, entrepreneurs should build a team that can get things done without them, and spend more time on ideas, building relationships, connections, and other

initiatives that can grow the business.

Financial Institutions’ Support

Presenting tips on how businesses can boost their chances of accessing loans from financial institutions, the Zenith Bank Head of Retail Banking, Lanre Oladimeji, said business owners need to be conversant with the five Cs of credit and know that character is key to accessing loans. He said, “SMEs must have a business continuity and succession plan and know the type of funding available to businesses in their sector.” He further explained that to access loans, “an applicant needs to help the banker understand the business and explore the options they provide to support the business. Make every effort to service existing loan obligations. If loans go bad, stick with your bank and work out a remediation plan. In this digital era, there is no running away when a loan goes bad.” In her people management session, Founder, Thrive HR Nigeria, Adeshola Aliogo, said employee engagement is a major growth driver for enterprises. She described engagement as the level of enthusiasm and dedication a worker feels towards their job. She said this occurs when employees find MAGIC Meaning, Autonomy, Growth, Impact, and Connection in the business. She advised that entrepreneurs should set their value standards, and then find workers with the same level of enthusiasm and who understand how everything they do ties to the growth of the business. “The cost of not hiring right is more,” she stressed.

Funding SMEs

In the area of funding, the hint about SME funding opportunities at UNIDO was dropped for the participants by the National Director, UNIDO, Oluyomi Banjo, at the bootcamp. Banjo announced that UNIDO is committed to advancing Sustainable Development Goal Number 9, which advocates industry, innovation,

and infrastructure in Nigeria through its various initiatives such as the Global Cleantech Innovation Programme. He said participants who own waste recycling businesses, and others who fit into the sustainability space, should take advantage of the GCIP, to access business support for scale-up. Former Chief Executive Officer, the Federal Competition and Consumer Protection Agency, Babatunde Irukera, during his regulatory framework session, noted that several businesses have been killed by regulatory issues across the globe. According to him, though regulations are existential threats to businesses, they also facilitate growth of SMEs, as they help to reward innovation. “Without regulation, SMEs won’t have a level playing field to survive and scale. Regulation secures everyone. Your businesses won’t grow if there is no regulator to check competition. It is important to keep everyone accountable to certain standards,” he said. Considering the timing of the Scale-Up Bootcamp, experts have commended the initiative. Currently, it has been established that small and medium-scale enterprises are projected to contribute 49.5% to Nigeria’s GDP in 2024, which is an indication that Nigerian SMEs are in for another impactful year. In 2023, the sector was believed to have performed incredibly well, as it contributed 45% to the Gross Domestic Product of the country. However, in developing economies like Nigeria, there remain several challenges facing this critical sector, some of which the bootcamp had successfully addressed. While players in the SME sector battle the perennial challenges, experts have observed that most small-sized business owners in the country also lack strategic awareness and acumen to grow their enterprise, hence the reason for appreciating the recent initiative. Observers believe that Scale-Up Bootcamp serves as a beacon of hope for small-medium enterprises seeking to optimise scalability, efficiency, and client satisfaction. Endowed with exceptional features and unwavering commitment to its values, the partners on the project have transcended beyond being mere tool; they have transformed into indispensable allies in the pursuit of success. By empowering businesses to dedicate themselves to their core mission while streamlining operational tasks, the Leading beverage giant, Seven-Up Bottling Company (SBC), is helping to create a pathway to streamlined prosperity and growth for the economy. As the world progresses, this innovative organisation remains at the vanguard of transformation, bridging businesses closer to their aspirations, one streamlined step at a time.

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

T H I S D AY • Thursday, FEBRUARY 15, 2024

Health & lifestyle

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

FreshTroubleswithNewNursingReforms

The cumbersome nature of the new guidelines for certificate verification process for internationally educated nurses has sparked suspicion and outrage from Nigerian nurses. Yinka Olatunbosun reports

Their demands

Photo Credit: Owolabi Ayodeji

urses in Nigeria are in a pitiable dilemma. There is a need to earn a decent living and the obligation to serve humanity within their country of origin. Sadly, unfavourable working conditions of nurses have propelled many of these professionals to leave Nigerian shores shortly after graduating from their various institutions of learning. In desperation, many seekers of greener pastures are obtaining foreign nursing qualifications with a view to get registered in their home countries. To maintain professionalism, foreign trained nurses are generally required to write a test to qualify for registration in Nigeria. These internationally educated nurses must complete a two-part test of competence to join the Nursing and Midwifery Council register, which includes the computer-based test (CBT) that can be sat in their home country. Unfortunately, the system of testing internationally trained nurses in Nigeria had been infiltrated by certain irregularities. For instance, in 2023, a leading test provider, Pearson VUE raised alarm over what it described as “anomalous data” coming from a third-party test centre in Ibadan. Pearson VUE runs the CBT tests across the world and hosts 20 test centres in Nigeria only. When the organisation alerted the NMC to the anomalous data, it immediately suspended all testing at the Ibadan site. Indeed, it couldn’t have been more obvious that the nursing education system is in dire need of reforms. From poor working conditions of nurses to clumsy testing for new ones, the NMCN had to wake up to its responsibility as a regulator. In response to the poor welfare package for nurses and the need to sanitise the profession, the Nursing and Midwifery Council of Nigeria (NMCN) recently announced some reforms in the nursing

The protesting nurses

or mandated years of service.” Trapping nurses and midwives in this country experience Meanwhile, Nurses under the aegis of National Association of Nigeria Nurses because of brain drain when this same brain the and Midwives (NANNM), Abuja and Lagos protested the new circular on drain can be solved fairly easily; pretending chapters, certificate verification by the Nursing and Council of Nigeria (NMCN). like a job with living wages,a conducive work Midwifery The nurses converged on the NMCN’s in Abuja and Lagos to express their environment and benefits is available in this offices dissatisfaction while threatening a nationwide strike. country when they graduate is absurd They further described the new guidelines education and practice. Essentially, these are said to be revised guidelines and requirements for the verification. One of these reforms is that it is now mandatory that graduates of foreign nursing schools register with the Nursing and Midwifery Council of Nigeria (NMCN) and obtain a licence to practise prior to their professional practice in Nigeria. This process may take a minimum of six (6) months and maximum of eighteen (18) months. Furthermore, the Nursing and Midwifery Council of Nigeria (NMCN) says applicants seeking the verification of certificates to foreign nursing boards and councils must possess two years post qualification experience. Also, it was stated in the guidelines that applicants are required to pay a non-refundable fee per application for verification to foreign boards of nursing as specified on the council’s portal. “This shall cover the cost of courier services to the applicant’s institution(s) of training, place of work, and Foreign Board,” the guideline reads. “Eligible applicants must have a minimum of two (2) years post qualification experience from the date of issuance of permanent practising licence. Any application with a provisional licence shall be rejected outrightly.” The part that many nurses find disturbing is the one that requires nurses to provide proof of good standing.

It reads: “The Council shall request a letter of Good Standing from the Chief Executive Officer of applicant’s place(s) of work and the last nursing training institutions attended and responses on these shall be addressed directly to the Registrar/CEO, Nursing and Midwifery Council of Nigeria. Please note that Council shall not accept such letter(s) through the applicant. However, these revised guidelines have generated outrage on social media with many nurses and health workers des c r i bing it as a violation of human rights. Some tweeps alleged that the reforms are clever clogs in the wheels of progress of nurses in Nigeria. An X user with the name @mysticimani said: “Trapping nurses and midwives in this country because of brain drain when this same brain drain can be solved fairly easily; pretending like a job with living wages, a conducive work environment and benefits is available in this country when they graduate is absurd”. Another user @alongeelisha commented: “Nonsense!!! This is a denial of human rights and it shall be informed to @ICNurses @WHO @ UNHumanRights. Having been verified by different nursing bodies around the world. There has never been an occasion where regulating bodies asked for work

as an effort to impede their freedom. Taking the outrage further, the National Association of Nigeria Nurses and Midwives held an emergency state executive council (SEC) meeting to review the said reforms by NMCN and made resolutions. The SEC raised concern on the intentionally complicated nature of the verification process as well as the prolonged six-month minimum processing period stipulated in the guidelines. The body regarded this development as a deliberate attempt to make the verification process burdensome. According to a statement issued at the emergency SEC meeting, “the SEC viewed the prerequisite of two years of post-qualification practice as an aspersion on the quality of nurses and midwives licensed by the Nursing and Midwifery Council of Nigeria and an infringement on their rights.” Therefore, the SEC called for the immediate reversal and withdrawal of the new guidelines on certificate verification, demanding for a fully digitised verification process that include the transmission of decisions to other regulatory councils. In addition, the SEC called on the federal government for the immediate Constitution of the NMCN board to ensure good representation of the interests of nurses and midwives in key decision making. The body sought for improved working condition for nurses and midwives in Nigeria as well as better remuneration to curb the mass migration of these professionals.

“Please, Don’t Allow Me Die”, Obinna Cries oOut, Seeks $27,000 for Surgery Emmanuel Ugwu-Nwogo in Umuahia John Obinna Chukwuma Ukoumuneh is crying out for help to stay alive. He needs an estimated $27,000 for a corrective surgery in India, which would restore his frame and mobility to the hitherto manageable level. A polio victim right from his baby days, the 44 year old person with disability(PWD) from Isuikwuato, Abia State, has been making the best out

of the precarious condition he found himself. He had “struggled” to make it to India where he underwent surgery to correct his deformity to some extent. Rods were implanted to his ribs and spine to strengthen his frame and enable him walk, albeit with clutches. But his fragile frame has fallen apart following a fall he had last year and his family could not source the funds needed to take him back to India for another surgery. They had over the years exhausted

their financial resources to make Obinna live a normal life, at least to an appreciable level. Presently he is writhing in excruciating pains and can hardly move about. His mother, Okwuchi Ekeoma Ukumunah, who had given up her nursing profession since August 1980 to care for his deformed child, is equally crying out for help. According to her, Obinna’s present predicament ensued shortly after his return from the second phase of his project for blind students in Abia sponsored by Global Giving.Org.

She said: On his return from the School for the Blind in Umuahia he fell while climbing the steps and broke many of his already fragile ribs and spine. “The inserted rods also injured him severely. He is in terrible pain and can hardly walk”. “We are, therefore, appealing to well meaning Nigerians for assistance to enable him travel to India for remedy,” the distraught mother said in tears. Obinna has tried hard to defy the limitations and inferiority complex imposed on him by

his deformity. He studied Guidance and Counseling at the University of Ibadan and has devoted his life to helping the physically challenged and blind persons overcome their challenges. He runs a nongovernmental organisation, JOC Foundation, which is focused on “touching lives” and helping the physically challenged to live meaningful lives. Through this NGO, Obinna has carried out a number of programmes and projects, especially in Lagos and Abia

States to help the PWD live meaningful lives by shaking off low self esteem and discovering their hidden talents. But he must stay alive to continue his laudable projects in the society. “I’m dying in pain and I need help to stay alive,” he said, adding, “I don’t want to die: I want people to help me”. Obinna needs to be saved from his life threatening situation so he could stay alive to continue his humanitarian activities among his fellow PWD.

T H I S D AY • Thursday, FEBRUARY 15, 2024

news

NOA Earmarks 3 National Eye Centres for Fertility Abia in First Phase of Nationwide Project Emmanuel Ugwu-Nwogo in Umuahia

The Nigerian Optometric Association(NOA) has said it would set up three national eye centres in Abia State to be sited in selected primary healthcare centres. Abia State Governor, Dr. Alex Otti received the cheering news when he met the executive members of the NOA along with the representative of the global eyecare charity, One Sight Essilor Luxottica Foundation. He welcomed the decision of NOA to establish the eyecare facilities in Abia, pledging to give the association all the support needed to make the project a reality. Otti said that government would identify the areas where the centres would be located and provide the appropriate logistics support for their take off. He thanked the association for its decision to consider Abia as one of the states to implement the first phase of the planned eye vision centres across the nation. The Abia Governor, who was elated by the proposed eye centres enthused that “what is important for now is to take advantage of the

offer and work closely with (NOA)”, adding that “like Oliver Twist we will always ask for more”. He noted that the project aimed at addressing the prevalence of visual impairment due to refractive errors has come at the right time given that his administration had just commenced renovation of primary healthcare centres. The Abia Governor therefore stated that the state would factor the eye centre project into the design and implementation of the renovation of the primary healthcare centres so that it would be realised promptly. He further told the visiting eye doctors that his government had embarked on the renovation and retrofitting of the 15 general hospitals in the state, after which the primary healthcare centres would follow suit. The National President of NOA, Dr Chimeziri Anderson, who led the delegation, had in his address, said the One Sight Essilor Luxottica Foundation had decided to set up optical laboratories in select regions of Nigeria. He said that Umuahia, the capital city of Abia State, was

chosen for the Eastern Region hence his association had considered Abia as one of the states where the first phase of first level Vision Centres would be set up. Anderson emphasised that the facility must be located at the primary healthcare centres at no cost to the government, adding that the project which would cover the 36 states, and the FCT. He explained the choice of Abia to kick-start the project implementation, saying that it was in recognition of Governor Otti’s healthcare drive which is evident by his increased budgetary allocation to the health sector. He requested for the commencement of internship training for optometrists in Abia’s higher institutions, engagement of Optometrists per local government through the primary health development agency to extend eye care services to rural areas. The NOA President also asked for the review of salaries and allowances of optometry doctors in the Abia State civil service, with Governor Otti assuring him that it would be treated in a holistic salary review exercise.

Avoiding the Slow Death Becky Uba Umenyili The value of good health cannot be quantified with wealth; we live today to plan for tomorrow and thus the need to care for one’s health as a primary concern. Contemporary developments reveal that most people in our dear country Nigeria and indeed, some other developing nations do not undergo periodic health check-ups to access the state of their health until they break down and become ill. Discoveries by various scientific institutes have proven that stress is the major cause of high blood pressure and heart attack in most people; yet this reality seem to have lost its scare in the minds of many people who undertake their respective engagements in most stressful manner oblivious of the effects, thereof. The recent increase in fuel price and its effects on the economy has obviously increased the distress state of most people in country, both rich and poor alike. Events of the recent past years, chronicling from the shutdown of private and public economic sector due to the outbreak of Covid-19, the nationwide public unrest orchestrated by the ENDSARS protests, agitations by sectionalized groups for improved welfare package like the eight-months industrial strike by ASUU, tensions heightened by various religious cum regional attacks by unknown gunmen, kidnappings

and most recently, the politically-induced distress occasioned by the change of Naira currency with its undue process that unleashed untold hardship on the masses and of course the present hiked cost of fuel and its consequent increase in prices of goods and services; have obviously increased stress in the lives of many people in the country, both young and old. In line with its medical term, stress which means anything that causes physical or emotional tension to someone, seem to have become a second nature of most Nigerians, so much that one hardly notices when one is stressed and which explains the reason for most sudden death and chronic ill health. In his memoir, Dr. Charles Patrick Davis, a medical practitioner, notes that stress can be internally induced, (from illness or medical procedure) and/or externally caused (from the environment, psychological or social situations). He further explained that stress can elicit a complex reaction of neurologic and endocrinologic systems, leading to acceleration of heart and lung action, paling or flushing, or alternating between both, inhibition of the stomach and upper-intestinal action to the point where digestion slows down or stops. In her own opinion, Mrs. Agnes Agbo, the former Chief Nursing Officer (retired) of the National Library Staff Clinic in Yaba, Lagos says that stress is a natural

human response, felt by everyone but unknown to some when it is mild and that this can be in acute or chronic form. Mrs. Agbo explains that excessive work, poor relationship and uncertainty, amongst other poverty-related factors are major causes of stress which are evidenced by various symptoms which include unfamiliar traits like ulcer, low appetite, dry mouth, amnesia and other psychological misconducts like addictions and aggressive behaviours. She warns that most people do not recognize when they undergo stress and therefore encourages regular assessment of one’s activities to know when one is burdened with excessive attachment of any kind, even emotionally and in social ties. With respect to physical exercises and other means of preventing and managing stress, she advises that one should adapt to changes in life, including loses of anything/anyone, socialize and share problems wisely, avoid caffeinated drinks and eat well, moderate use of social media to avoid ill-news that trigger bad emotions as well as observe quiet relaxation periods, regularly. Mrs Agbo further add “some people who trek often think t h a t t h e y h a v e e x e rc i s e d t h e i r bodies, this is not v e r y c o r re c t b e c a u s e g o o d b o d y e x e rc i s e entails working up t h e d i ff e re n t p a r t s o f t h e b o dy and not just mere walking which is also stressful when its excessive”.

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

Depression And Infertility (Part 1)

he society at large places passionate premium on procreation in any family setting such that in most cases, the woman’s place in marriage remains precarious till confirmed through child bearing. Awoman has to prove her womanhood in same fashion. Children are held as sources of pride and strength being equated to the male progeny. Infertility therefore entails a loss thought to be tangible and therefore impacts negatively on a couple’s mental and social wellbeing. Infertility constitutes a crisis in the affected African family. The attendant emotional, psychological, cultural and social burdens drain the couple of self-belief and esteem. The unsolicited and often inpatient societal demands and expectations places such couples under unimaginable pressure and tension. They may become isolated and neglected consequent upon the attendant social stigmatization. In some cases, the female is held responsible for virtually all cases of infertility. The men folk are held as above the board. Consequent upon this, the woman is humiliated, isolated, derided, abused and rebuffed. Undergoing such life crisis has been the stories of most infertile women. It has been reported that they go to varying lengths visiting orthodox medical practitioners, herbalists, traditionalists and spiritualists in search of needed reprieve and solution while others visit clinics for regular counseling without the financial ability to go through recommended treatment thus compounding more burden in fertility clinics.

Depression and Infertility The description above is very similar to what lots of women or couple face daily and these may often lead to frustration and depression. Most often women/couple faced with depression due to infertility may not even realize it. Depressive state has been reported to impact negatively on fertility as well, hence compounding the already existing issues.

Do you feel like your entire life has been hijacked by infertility? Do you go to sleep and wake up thinking about pregnancy? Infertility is emotional and physically exhausting. Studies have shown that the emotional stresses women with infertility are similar to cancer and cardiac patient. The fact that the emotional struggle of infertility is common does not mean it should be ignored or that one should resign to feeling that way. As you flip through this list, you can jot down signs you have identified you experienced and discuss about the solutions with your fertility specialist and counsellor.

Do you worry that people will love you less or not at all if they knew you are infertile? Do you sometimes worry your partner may leave you because of your fertility problem? Do you see yourself as broken and defective? Then you are struggling with a feeling of worthlessness and shame. You have allowed infertility to define you as a person and have forgotten that you are so much worth more than infertility Thinking About Infertility All Day Long For women trying for babies it is not out of place to have infertility at the front of your mind. However, that is different than feeling like infertility is the only thing you can think about even when you are not in the midst of any fertility treatment. If you notice that you can hardly concentrate to enjoy other part of your life, the thought of infertility often creeps in to break your concentration then it’s a sign that you may be depressed and may benefit from counselling with a specialist. Guilt is an emotion that should be limited to those who have done something wrong. Very often in life we feel there are things we did that we should not have done. We may feel guilty for: • Not starting to have a family earlier • Not having a partner earlier • For not freezing your eggs earlier even if there was no way you could have known you needed to • You may feel guilty for contacting a sexually transmitted infection that led to the infertility Sadness is a normal action to unfortunate events. If you find yourself in tears when a fertility treatment fails and the pregnancy test results reads negative, it is normal However if : •If your sadness seems to rarely lift. • You find your days are more grey than sunshine • You have felt sad for weeks and weeks. Depression can be defined as a feeling of sadness, lasting over an extended period of time and interferes with your daily life. Sometimes you don’t even understand why you are feeling deeply sad then you need to seek counselling TO BE CONTINUED NEXT WEEK.

Thursday, FEBRUARY 15, 2024, T H I S D AY

business/MOnEYGUIDE

Comercio Partners: CBN FX Reforms Attracted $500 FPIs in LatestTreasury Bills Auction Nume Ekeghe Co-Managing Partner at Comercio Partners, Stephen Osho has indicated that the recent foreign exchange reforms implemented by the Central Bank of Nigeria (CBN) are already attracting Foreign Portfolio Investors (FPIs) back into the country. Osho highlighted that the latest Treasury Bills auction, with rates reaching as high as 19 per cent, saw FPIs participating, infusing approximately $400 to $500 million of fresh investments into Nigeria. He disclosed this at a media parley in Lagos where the investment firm presented its macroeconomic outlook for 2024 themed, “Finding Rain in Drought.” Speaking on recent FX reforms, Osho said: “With recent reforms, a lot of offshore

investors are interested, talking to a lot of international banks you would see that they have started seeing some flows of offshore investors. In the last auction alone, we saw close to about $400 to $500 million that came in as fresh money. “And what made that happen is that they have confidence that we are almost at the end of FX crisis and stability. If all the other mechanisms work, we would start to see a slight appreciation of the currency and that is good if they are buying yields of 22 per cent. “We need to sustain that momentum and give that confidence to FPIs so that by the time FPIs are in the system and coming in more, you will now see other investments come in through direct investment in the country. Foreign Direct Investors (FDIs) would

be more comfortable in the country when they see that is stability in the exchange rate.” Investment Research Associate at Comercio Partners, Ifeanyi Uba, shared the firm’s projection for the naira’s performance in the first half of the year. Uba noted that they anticipate the naira to hover around the range of N1,500 to N1,600. Uba said: “The projection we have for the naira is for 6 months and what we are seeing from the CBN and from the parallel we believe the naira may consolidate around N1,500 to N1,600 region for the next couple of months. We have noticed that there is increase in participation in the NAFEM window and the NAFEM window is now showing a true reflection of how market participants feel.”

L-R: Head of Agriculture, Delegation of German Industry and Commerce in Nigeria, Sebastian Glaeser; Senior Project Manager, fairtrade Messe, Freyja Detjen; Chief Executive Officer, Modion Communications & Local Partner to fairtrade Messe, Odion Aleobua; President, Organisation for Technology Advancement of Cold Chain in West Africa (OTACCWA), Alexander Isong; and Senior Program Manager, TechnoServe, Tella Ayodele Elizabeth, at the Stakeholders’ Pre-Exhibition Meetup, for the forth-coming 9th agrofood and plastprintpack Nigeria Tradeshow and Conference at Victoria Island, Lagos...yesterday KOLAWOLE ALLI.

PwC Announces Six Beneficiaries of Annual Charity Initiative Leading professional services firm, PwC Nigeria has announced the six beneficiaries of her annual charity initiative for 2023. According to a statement from the firm, the charities were nominated and voted for by the staff and the donation accrued from voluntary contributions made by both staff, and partners of the firm. The company said a total sum of N7.5 million was distributed to the six charities. Commenting on the exercise, Partner and Corporate Responsibility Leader, PwC Nigeria, Obioma Ubah, noted:

“Our annual charity initiative popularly known as 5for5 is one of the ways we are making a greater societal impact in line with our strategy and supporting organisations working to deliver Sustainable Development Goals (SDGs). “This year we did not have our usual 5km walk instead, we had our people and teams visit these charities to make the presentations and engage them on their work and the other ways we can support them. Those visits were richly rewarding experiences for our people

and aligns with our drive to encourage more volunteering for greater sustainable impact on our society. “We also have six charities benefiting this year because the nomination and voting by our staff produced a tie and we thought it was important to ensure that we made a difference for as many charities as we could.” The 2023 beneficiaries of the firm’s initiative include CrimsonBow Sickle Cell Initiative, One Africa Child Foundation for Creative Learning, and the Talent Mine Academy.

Unilever Nigeria Donates Products to Oyo State Govt Raheem Akingbolu

As part of efforts to make sustainable living commonplace, Unilever Nigeria has donated a range of its products to the Oyo State Government in connection to the incident in the Bodija area of Ibadan, the state capital. The donation included body creams, toothpaste, seasoning, and other health and hygiene products to support the State Government. The Head, Corporate Affairs and Sustainable Business, Unilever Nigeria, Mr. Godfrey Adejumoh, who led the team conveyed Unilever’s message of care and comfort to the State Government and

offered its support through the product donations that will be useful to the people impacted by the incident. “We understand the immense discomfort caused by this event, and we are committed to complementing the state government’s efforts for immediate relief and support to those affected. Our thoughts are with them, and we extend our heartfelt message of care and comfort to them,” he said. Adejumoh, stressing the company’s role, added, “We are deeply connected to the communities where we operate and believe in standing by them always. We are confident that through

collective efforts, Ibadan and the entire people of Oyo State will emerge stronger and better from this incident.” The donation was wellreceived on behalf of the state government by the Head of the Emergency Medical Team and Special Adviser to the state Governor, Prof. Temitope Alonge. He expressed the state’s gratitude for the timely gesture. “We appreciate Unilever’s timely and much-needed support during this crucial period. The donation will go a long way in providing comfort to the affected individuals and families when they are finally resettled.”

Mastercard Appoints New Country Manager for West Africa Mastercard, a leading company in digital payments and technology, has announced the appointment of Folasade Femi-Lawal as the new Country Manager and Area Business Head for West Africa. “With over 25 years of multifaceted experience spanning financial services, management consulting, telecommunications, and business advisory services, Folasade brings a wealth of knowledge and expertise to the role. “As Country Manager, Folasade is responsible for further driving the company’s strategic vision, innovation and

growth agenda, as well as strengthening partnerships with key stakeholders, and advancing the company’s mission of building a more connected and inclusive digital economy in West Africa, “the company said in a statement. Division President for Sub-Saharan Africa at Mastercard, Mark Elliott, said: “We are delighted to welcome Folasade to the Mastercard family. Folasade’s vast experience across the digital payments’ ecosystem will be a huge asset to the Mastercard business in West Africa. She arrives at a pivotal time when

digital innovation is transforming the country’s payments landscape, moving Nigeria toward a cashless society. Folasade will work closely with various private and public sector stakeholders in the country to help further this transformation.” Responding, the new Country Manager, West Africa, said: “Mastercard’s unwavering commitment to excellence, cutting-edge solutions, partnerships, and initiatives have consistently set industry standards as it concerns financial inclusion, economic empowerment, digital transformation, and innovation.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) November, 24

Money Supply (M3)

72,014,274.74

-- CBN Bills Held by Money Holding Sectors

1,245,804.25

Money Supply (M2)

71,331,641.40

-- Quasi Money

45,146,611.59

-- Narrow Money (M1)

26,185,029.81

---- Currency Outside Banks

3,081,255.46

---- Demand Deposits

23,103,774.40

Net Foreign Assets (NFA)

32,212,549.50

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

39,801,725.20

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

59,737,156.08

--Other Assets Net

4,720,308.20

Reserve Money (Base Money

22,908,392.34

--Currency in Circulation --Banks Reserves --Special Intervention Reserves

3,347,716.33 19,560,676.02 0.00

• Source - CBN

Money Market Indicators (in Percentage) Month

December 2024

Inter-Bank Call Rate

16.99

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

18.75

Treasury Bill Rate

8.93

Savings Deposit Rate

5.28

1 Month Deposit Rate

7.24

3 Months Deposit Rate

7.56

6 Months Deposit Rate

8.42

12 Months Deposit Rate

9.75

Prime Lending rate

14.17

Maximum Lending Rate

26.62

• Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE As At 24th JANUARY , 2024

The price of OPEC basket of twelve crudes stood at $81.30 a barrel on Tuesday, compared with $79.70 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Thursday, FEBRUARY 15, 2024 • T H I S D AY

mARKET NEWS

Renewed Interest in Airtel, 27 Others Lift Stock Market by N979.78bn

Kayode Tokede

Recovering from the previous session’s loss, the stock market of the Nigerian Exchange Limited (NGX) yesterday gained N979.78 billion as investors renewed interest in Airtel Africa Plc and 27 others. The NGX All-Share Index (ASI) gained 1,790.58 basis points or 1.76 per cent to close at 103,498.28 basis points from 101,707.70 basis points

it opened for trading. Also, market capitalisation rose by N979.78 billion to close at N56.633 trillion from N55.653trillion it closed the previous day. Performance across the sectors was mixed, as the NGX Oil & Gas Index appreciated by 5.3per cent, NGX Consumer Goods gained four per cent and NGX Banking increased by two per cent, while the NGX Industrial Goods depreciated by

P R I C E S MaiN Board

F O R DEALS

3.5per cent and NGX Insurance dropped by 0.3per cent. Sequentially, the NGX Month-to-Date and Year-toDate returns advanced to +2.3per cent and +38.4per cent, respectively. As measured by market breadth, market sentiment was positive, as 28 stocks gained relative to 25 losers. Unity Bank and Airtel Africa emerged the highest price gainer of 10.00 per cent

S E C U R I T I E S Market Price

quantity traded

each to close at N2.42 and N2,200.00 respectively, while Juli followed with a gain of 9.91 per cent to close at N1.22, per share. FBN Holdings rose by 9.90 per cent to close at N27.20, while Morison Industries appreciated by 9.82 per cent to close at N3.02, per share. On the other side, NCR Nigeria, Thomas Wyatt Nigeria and MeCure Industries led others on the losers’ chart

T R A D E D

value traded ( N )

A S O F

MaiN Board

with 10 per cent each to close at N4.32, N2.25 and N9.72 respectively, per share. Meyer followed with a decline of 9.99 per cent to close at N6.22, while BUA Cement shed 9.91 per cent to close at N150.00, per share. The total volume traded rose by 62.19 per cent to 426.861 million units, valued at N12.107 billion, and exchanged in 8,654 deals. Transactions in the shares of FBNH led the activity with

F E B R U A RY DEALS

54.611 million shares worth N1.479 billion. United Bank for Africa (UBA) followed with account of 47.658 million shares valued at N1.173 billion, while Access Holdings traded 46.045 million shares valued at N1.092 billion. Transnational Corporation (Transcorp) traded 30.646 million shares worth N394.903 million, while Nigerian Breweries traded 25.488 million shares worth N968.657 million.

/ 1 4 / 2 4 Market Price

quantity traded

value traded ( N)

THURSDAY, FEBRUARY 15, 2024 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 12Feb-2024, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 353.29 353.29 17.60% Afrinvest Plutus Fund 100.00 100.00 8.77% Nigeria International Debt Fund 330.94 330.94 1.28% Afrinvest Dollar Fund 108.53 108.53 0.73% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 0.00% Anchoria Equity Fund 238.42 240.96 23.08% Anchoria Fixed Income Fund 1.25 1.25 -2.09% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 38.63 39.80 26.46% ARM Discovery Balanced Fund 783.02 806.63 18.20% ARM Ethical Fund 64.23 66.17 17.80% ARM Eurobond Fund ($) 1.11 1.11 2.68% ARM Fixed Income Fund 1.10 1.10 11.86% ARM Money Market Fund 1.00 1.00 10.17% ARM Short Term Bond Fund 1.01 1.01 8.71% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.51 108.51 474.00% AVA GAM Fixed Income Naira Fund 1,142.17 1,142.17 212.00% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.26 2.26 9.90% CEAT Fixed Income Fund 3.63 3.73 147.26% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.03 1.03 7.80% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.58% Cordros Milestone Fund 179.18 180.41 3.58% Cordros Fixed Income Fund 108.76 108.76 10.41% Cordros Halal Fixed Income Fund 110.47 110.47 9.37% Cordros Dollar Fund ($) 115.24 115.24 6.37% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 10.39% Coronation Balanced Fund 1.60 1.62 4.58% Coronation Fixed Income Fund 1.36 1.36 48.28% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1568.56 1568.56 11.89% FBN Balanced Fund 298.00 300.70 10.20% FBN Halal Fund 135.67 135.67 13.07% FBN Money Market Fund 100.00 100.00 11.57% FBN Dollar Fund 124.99 124.99 7.47% FBN Smart Beta Equity Fund 282.65 286.82 13.66% FBN Specialized Dollar Fund 113.05 113.05 9.24% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.89% Legacy Debt Fund 3.60 3.60 4.40% Legacy Equity Fund 3.43 3.49 23.66% Legacy USD Bond Fund 1.33 1.33 4.31% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 6,020.68 6,062.70 34.30% Coral Income Fund 4,036.39 4,036.39 8.03% Coral Money Market Fund 100.00 100.00 12.41% FSDH Dollar Fund 1.20 1.20 0.00%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.92 1.96 53.03% Lotus Halal Fixed Income Fund 1,207.62 1,207.62 -5.70% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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) 103.47 103.47 10.20% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.81% Norrenberger Dollar Fund (NDF) ($) 103.67 103.67 9.02% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 2.57 2.61 10.52% PACAM Fixed Income Fund 12.24 12.51 17.79% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.59 2.62 19.88% PACAM EuroBond Fund 134.36 137.53 1.81% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 1.01 1.01 11.04% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 11.04% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 5,606.27 5,650.24 12.56% Stanbic IBTC Bond Fund 257.35 257.35 4.96% Stanbic IBTC Ethical Fund 2.38 2.41 15.70% Stanbic IBTC Guaranteed Investment Fund 355.04 355.29 0.52% Stanbic IBTC Iman Fund 468.64 473.92 24.17% Stanbic IBTC Money Market Fund 1.00 1.00 11.62% Stanbic IBTC Nigerian Equity Fund 20,559.51 20,799.09 13.31% Stanbic IBTC Dollar Fund (USD) 1.48 1.48 7.32% Stanbic IBTC Shariah Fixed Income Fund 129.31 129.31 6.57% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 127.42 127.42 9.87% Stanbic IBTC Absolute Fund 5,070.16 5,070.16 9.68% Stanbic IBTC Aggressive Fund 6,122.70 6,196.58 13.77% Stanbic IBTC Conservative Fund 5,647.98 5,676.35 6.88% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.64 1.66 20.69% United Capital Balanced Fund 2.02 2.03 9.07% United Capital Wealth for Women Fund 1.69 1.70 18.82% United Capital Sukuk Fund 1.19 1.19 9.31% United Capital Fixed Income Fund 1.97 1.97 7.20% United Capital Eurobond Fund 125.10 125.10 5.30% United Capital Global Fixed Income Fund 1.10 1.10 8.55% United Capital Money Market Fund 1.00 1.00 10.85% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 20.93 20.19 10.83% Zenith ESG Impact Fund 23.06 23.26 5.82% Zenith Income Fund 25.63 25.63 1.19% Zenith Money Market Fund 1.00 1.00 11.75% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 9.01 9.11 1.91% Vetiva Consumer Goods Exchange Traded Fund 14.74 14.84 0.75% Vetiva Griffin 30 Exchange Traded Fund 37.73 37.93 0.58% Vetiva Money Market Fund 1.00 1.00 10.93% Vetiva Industrial Goods Exchange Traded Fund 54.21 54.41 0.02% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 3.05%

REITS

NAV Per Share

Yield / T-Rtn

131.29 60.17 101.79 11.31

1.10% 0.57% 106.71%

Bid Price

Offer Price

Yield / T-Rtn

28.68 1,090.00 795.00 N/A N/A

31.70 1,090.00 795.00 N/A N/A

8.18% 118.00% 10.88% N/A N/A

NAV Per Share

Yield / T-Rtn

N/A

Fund Name

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

EXCHANGE TRADED FUNDS

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

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

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

T H I S D AY • THURSDAY, FEBRUARY 15, 2024

NEWS

Launching of book, The Transformational Leader...

L-R: The author and former MD of Wema Bank, Mr. Ademola Adebise; Secretary to the Lagos State government, Abimbola Saliu-Hundeyin; Deputy Governor of Oyo State, Alhaji Bayo Lawal; Ogun State Governor, Prince Dapo Abiodun; CEO, Elizade Motors and Chairman of the occasion, Chief Micheal Ade Ojo, during the launching of the book, The Transformational Leader (The journey of a Tech Bro turned Bank CEO) by Mr. Adebise in Lagos on Tuesday.

Obasanjo, Jonathan, Shettima, Liberian VP, PDP Governors Grace Diri's Inauguration

Leaders seek unity to move Bayelsa forward APC to call 224 witnesses against gov’s re-election INEC disowns tendered results Chuks Okocha, Alex Enumah in Abuja and Olusegun Samuel in Yenagoa Eminent personalities, yesterday, including top ranking politicians, captains of industries and many others, graced the swearing-in of the Bayelsa State Governor, Senator Douye Diri and his Deputy, Lawrence Ehwrujakpor, for their second term in office, amidst pomp and celebration. Leading the row call were two former Presidents, Chief Olusegun Obasanjo and Dr. Goodluck Jonathan, Vice-President Kassim Shettima and his Liberian counterpart, Jeremiah Koung. Others were the Minister for Petroleum, Heineken Lokpobiri; the

Speaker of the House of Representative, Tajudeen Abbas, Governors from the Peoples Democratic Party (PDP)-controlled states among others. Also present were former Governors of Kwara State, Bukola Saraki; his erstwhile Delta State counterpart, Ifeanyi Omowa and Diri's predecessor, Senator Seriake Dickson Diri and his deputy were sworn-in by the state Chief Judge, Hon. Justice Maltida Ayemieye before hundreds of cheering Bayelsans and residents at the Samson Siasia Sport Complex, which was filled to capacity. The governor, in his address, called on all Bayelsans irrespective of the political affiliations to come together, unite and collaborate to overcome their obstacles and build a prosperous

and resilient Bayelsa State that would be the envy of other states. He emphasised the important of unity and urged Bayelsans to remember that meaningful and lasting progress could only be achieved when they work together as a united front. "Permit me to emphasise at this point the imperative of unity and togetherness. The African proverb, ‘if you want to go fast, go alone. If you want to go far, go together,’ captures the essence of our journey ahead. "We must remember that meaningful and lasting progress can only be achieved when we work together as a united front. Let us embrace the wisdom of this proverb and recognise the strength that comes from collaboration and corporation.

“Together, we can overcome any obstacle, achieve great feats, and build a Bayelsa State that is prosperous, inclusive, and resilient. We are better together." The governor, reeled off his first term achievements to include the three senatorial districts under construction and the rehabilitation of inter roads in Yenagoa and other parts of the state, among many others. He said it was the strong belief of the “prosperity government” that citizens should have a more active and direct role in shaping and participating in the economy. In a related development, the PDP Governors' Forum (PDP-GF), has congratulated Diri, on his second term inauguration and swearing-in.

Don't Incite People against Our Govt, APC Governors Caution Counterparts in PDP Say collaboration needed for lasting solutions

The progressive governors have cautioned their counterparts in the Peoples Democratic Party (PDP) against utterances and actions capable of inciting the masses against the federal government. In a statement in Abuja, yesterday, Chairman of the Progressive Governors' Forum and Governor of Imo State, Senator Hope Uzodinma, said the economic and security challenges confronting the nation needed a collaborative approach towards finding lasting solutions to them, and not finger pointing. Reacting to the press briefing by the PDP governors on Monday, where they likened Nigeria to

another Venezuela, Uzodinma said it was unpatriotic for those in leadership positions to play the ostrich, when they were fully aware of what President Bola Ahmed Tinubu was doing to reverse the situation. According to him, while the PDP had catalogued what they perceived to be the economic problem of the country, they could not proffer a single solution to it. Uzodimma noted that the statement by the PDP governors that, "Ultimately, the decision rests squarely with Nigerians and other organs in the country to ensure that we take actions that will bring relief

to all of us." He said actions of the PDP governors amounted to veiled incitement of the public against the federal government, particularly coming on the heels of a 14-day notice of strike by the organised Labour. "As leaders, mere criticisms or even playing to the gallery for public applause is not the way to go. Engaging in the blame game is also not the way to go. “All of us are members of the National Economic Council, where we have the opportunity to make our inputs. I don't think my colleagues have exhausted that avenue,"

Interior Minister, Tunji-Ojo, Expresses Shock over Death of Ondo PDP Chairman Fidelis David in Akure The Minister of Interior, Olubunmi Tunji-Ojo, has described the death of the Chairman of the Peoples Democratic Party in Ondo State, Mr. Fatai Adams, as an irreparable loss to the state. Adams died at a private hospital in Akure, the Ondo State capital, yesterday. However, in a statement by his

Special Adviser on Media, Babatunde Alao, the minister said the late politician would be missed for his impacts in the state and beyond. The statement read: “I received with great shock, the death of my Egbon and the Chairman of the Peoples Democratic Party in Ondo State, Honorable Fatai Adams. This is a huge loss to Ondo State and its people. "While alive, Fatai Adams was a

member of the Ondo State House of Assembly and he served our state meritoriously. He made lots of impactful contributions during his lifetime to the growth and development of Ondo State. “I commiserate with the people of Irun Akoko and Ondo at large. I pray that God will grant him eternal rest and also give his family, friends and associates the fortitude to bear this irreparable loss.”

Uzodinma posited. The chairman of the forum said he was happy that PDP as a party supported the removal of fuel subsidy, which was at the heart of the economic challenges in the country. "I don't know when they stopped supporting that economic policy, but they are familiar with the cliche that you cannot make an Omelette without breaking an egg."

In a statement by the Director General of the PDP governors forum, Cyril Maduabum, said Diri recorded a resounding victory at the November 11, 2023, gubernatorial election as declared by the Independent National Electoral Commission (INEC) and was re-elected for another four years of devoted service. The governors acknowledged the Bayelsa people's testimonial of Diri’s good governance in the past four years in various sectors and a request for continuity of more impactful developments in the state to further improve their lives. The PDP governors said Diri has enthroned an atmosphere of peace and tranquility in Bayelsa State, and the peace dividend is manifest. They said they were confident of his capacity to deliver in the second term and wished him success at every step he takes. "We join the Bayelsa families, friends, and people in prayer for divine guidance and protection, good health, wisdom, and humility in service to lift the people through these difficult economic times. "We shall assuredly provide him with unalloyed support and brotherly advice always," the PDP governors stated.

APC to Call 224 Witnesses against Diri Meanwhile, the All Progressives Congress (APC), yesterday, disclosed that it would call at least 224 witnesses to prove its allegations against the re-election of Senator Duoye Diri as

Governor of Bayelsa State. Counsel to the APC, Chief Tunde Falola, and its candidate in the November 11 governorship election in Bayelsa State, Timipre Sylva, made the disclosure while speaking with journalists at the Governorship Election Petition Tribunal, Abuja. Falola, while expressing hope that the tribunal would be able to take his witnesses within the duration allotted the petitioners to make their case, maintained that it was wrong and unlawful for the Independent National Electoral Commission (INEC) to claim that election did not take place in three local government areas in Bayelsa State, at the recent election won by Diri. INEC had declared Diri as winner of the November 11, 2023 governorship election in Bayelsa State, having won majority of the votes cast at the election. The Returning Officer, Professor Faruq Kuta, said the PDP and Diri polled 175,196 votes to defeat his closest rival, Timiprey Sylva of the APC who scored 110,108 votes. Dissatisfied, Sylva and APC approached the tribunal to challenge the declaration of Diri as winner of the November 11 governorship election. The petitioners were asking the tribunal to hold that contrary to the position of the electoral umpire, election held in some polling units and winners declared at the said units, adding that it was wrong of INEC to disregard the results at the ward and local government level. Continues online

APC Appoints Uzodimma Head Edo Guber Primary Election Committee Juliet Akoje in Abuja.

The All Progressives Congress (APC) has appointed the Governor of Imo State, Hope Uzodimma as Chairman of a seven-member committee to conduct the February 17th, 2024 APC gubernatorial Primary elections for Edo State. According to a statement released by the APC National Organising Secretary, Sulaiman Muhammad Argungu, yesterday, the Governor of Cross River State, Senator Bassey Out, would serve as Deputy Chairman of the Primary Election Committee. Other members of the Primary Election Committee included a

former Osun State deputy governor, Mrs Titilayo Laoye-Tomori; APC's flagbearer in the Plateau State 2023 governorship election, Nentanwe Yilwatde Goshwe; Umar Musa, Lawan Garba and Rabiu Suleiman, who will serve as the secretary. Also constituted was the membership of the Edo State gubernatorial Primary Election Appeal Committee, chaired by C.C Udenwa. Other members were Muhammad Zakaria Sarina; Udogu Anthony Chijoke; Muhammad Garin Ali and Yunusa Mohammed, who will serve as Secretary. The nominated members of the Edo State National Gubernatorial Primary Election Committee and

Election Appeal Committee would be inaugurated on today, at the Party’s National Working Committee (NWC) Hall by 4pm prompt. The APC had cleared all the twelve aspirants jostling for its ticket to contest the 22 September Edo State governorship election. The 12 aspirants are Prince Clem Agba, Senator Monday Okpebholo, HE. Lucky Imasuen, Hon. Anamero Sunday Dekeri, Pastor Osagie Andrew Ize-Iyamu, Engr. Gideon Ikhine, Col. David Imuse (Rtd.), Gen. Charles Ehigie Airhiavbere (Rtd.), Prof. (Sen.) Oserheimen Osunbor, Blessing Agbomhere, Hon Dennis Idahosa and Ernest Afolabi Umakhihe.

THURSDAY, FEBRUARY 15, 2024 • T H I S D AY

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UK Home Office International Operations Visits NDLEA...

L-R: Chairman/Chief Executive, National Drug Law Enforcement Agency (NDLEA), Brig Gen Mohamed Buba Marwa (Retd) (right) presenting a plaque to Director, Africa region, UK Home Office International Operations (HOIO), Mr. Richard Lloyd, when a delegation from HOIO visited the national headquarters of NDLEA in Abuja... yesterday

Dangote Refinery Exports First Cargo of 65,000 Metric Tonnes of Low-sulphur Fuel Oil

Emmanuel Addeh in Abuja with Agency report

Nigeria's Dangote oil refinery has exported two fuel cargoes , the first from the newly inaugurated refinery, trading sources with knowledge of the matter, have said. Although the sources told Reuters yesterday that the tenders for the sale have been issued, THISDAY learnt last night, that the sale of the products had already taken place. The refinery, Africa's largest with a nameplate capacity of 650,000 barrels per day, was built on a peninsula on the outskirts of the commercial capital Lagos by the continent's richest man, Aliko Dangote. Nigeria has for years relied on expensive imports for nearly all

the fuel it consumes but the $20 billion refinery is set to turn it into a net exporter of fuel to other West African countries, in a huge potential shift of power and profit dynamics in the industry, the report said, adding that Dangote declined its request for comment. The first cargo is 65,000 metric tons of low-sulphur straight run fuel oil, which Dangote awarded to Trafigura and was due to load at the end of February, three of the sources said, even though it was gathered that the deal had already been consummated. Trafigura also declined to comment. At least one refiner said they had been offered the cargo by Trafigura without elaborating further. The second tender is for about 60,000 tons of naphtha, three other

sources said. Two of them added that the tender closes on February 15 (today). Loading details were not immediately available. Sources told Reuters last week that the refinery was preparing to deliver its first fuel cargoes to the domestic market within weeks. The two fuels on offer are typical products of running light sweet crude through a crude distillation unit (CDU) in a refinery without further upgrading capacity. It is expected to take months for upgrading units to be brought online, experts have said. The refiner began buying crude in December last year and Nigeria's state-owned oil firm NNPC Ltd has been the main supplier. Dangote has also purchased some U.S. oil and is expected to receive 2 million barrels

of U.S. WTI Midland in early March, according to LSEG and Kpler ship tracking. Meanwhile, oil majors are targeting new oilfields that can be profitable even if oil prices fall to about $30 per barrel, using a third year of rising demand to reshape portfolios amid uncertainty over the industry's future. Investors have not returned to oil stocks despite recent high earnings. Even the world’s lowest-cost oil producer, Saudi Aramco has joined the rush to cut costs. The shift to fields with favourable break-even points follows deeper and more frequent boom-cycles in the last decade. It also reflects executives' belief that current high prices may not last, Reuters said.

"After three major oil price crashes in 15 years, there is wide acceptance that another one is likely to happen," said Alex Beeker, director of corporate research at energy consultancy Wood Mackenzie. That uncertainty and inventor demands for returns underpin executives' focus on buying lower-cost crude production and the flexibility to adjust output in response to price swings. Exxon Mobil and Chevron, last year spent more on shareholder pay-outs than on new oil projects, a sign of the industry's desire to regain investor favour. The energy sector accounted for just 4.4 per cent of the overall weighting of the S&P 500 Index of top U.S. publicly traded companies

as of January 30, according to S&P Global, down from nearly three times that a decade ago. Exxon, Chevron and Occidental Petroleum (OXY.N), opens new tab recently struck deals worth a combined $125 billion to acquire companies that will help them pump oil for between $25 and $30 per barrel. In Europe, Shell and Equinor are pursuing projects with $25-30 per barrel break-evens, while France’s TotalEnergies aims to get its production costs under $25. Nigeria has one of the highest cost per barrel production in the world, but operators have recently said they plan to reduce it to less than $30 in recent months.

Ogun Speaker Urges NAFDAC to Reduce ASUU: Ruling Class Causing Hardship to Students to Destroy Public Varsities Alcohol Content in Sachets from 30% to 5% Lecturers, Emmanuel Ugwu-Nwogo in Umudike(MOUAU), Abia State. "In other climes of nationalist-

Raheem Akingbolu

The Speaker of the Ogun State House of Assembly, Hon. Oludare Aramide has proffered a cut in the percentage of alcohol in sachets to 5 per cent as panacea to the outright ban of sachets and pet bottles below 200ml by the National Agency for Food Drug Administration and Control (NAFDAC) This he made known at the House of Assembly ground at Oke Mosan, Abeokuta when the

leadership and members of the Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and Food and Beverages Union, took their protest against the ban of alcoholic beverages in sachet and pet bottles to the legislative seat. In the same vein, the Alake of Egbaland, Oba Aremu Gbadebo and the Olota of Ota in Ogun State, Oba Adeyemi Obalanlege have urged NAFDAC to reconsider the recent ban of alcoholic drinks in sachet and small pet bottles below

200ml. The two first-class traditional rulers spoke different times while addressing stakeholders of the affected companies. Addressing representatives and workers of the 25 beverage companies affected by the recent clampdown on factories, who paid a save-our-soul visit to the Olota palace, the traditional ruler said there was no justifiable reason to lay-off workers at this period of Nigeria's harsh economic climate.

Umuahia

The Academic Staff Union of Universities(ASUU) yesterday raised the alarm over alleged deliberate moves by the ruling political class to destroy Nigeria's public universities by "piling hardships" on lecturers and students. ASUU President, Prof. Emmanuel Osodeke warned of what he termed a looming danger, at a press conference held at the Michael Okpara University of Agriculture

Sanwo-Olu to UK: Consider Lagos as Destination of Choice for Investments in line with his administration’s THEMES+ developmental agenda. Sanwo-Olu had during the commissioning of the Mid-Level Agro produce Hub, Idi-Oro, Mushin on Sunday, December 17, 2023, announced a N750 million financial intervention scheme for Lagos traders tagged “Lagos Market Trader Money” for 15,000 traders across the State. Sanwo-Olu fulfilled his promise in less than 60 days as 250 traders from each of the 20 local governments and 37 Local Development Council Areas (LCDAs), as well as 750 beneficiaries identified from markets within the barracks and military formations across the State, yesterday, received N50,000 each. Sanwo-Olu implored the beneficiaries of the Lagos Market Trader Money to make the best and

judicious use of the grant in ways that will contribute to the economic development of the State. “I urge you to let the citizens of Lagos feel the impact of this grant and all the other support that this administration has been providing towards ensuring food security, through reasonable reduction in the cost of basic food items in a way that it will be affordable to ordinary Lagosians,” he said. Sanwo-Olu said the initiative was conceptualised as a stop-gap measure of the Lagos State Government to empower small-scale traders in the food systems by providing them financial support to expand their businesses thereby fostering economic growth and improving the lives of many within the State. He said: “This will ensure

sustainable livelihoods and facilitate business expansion for 15,000 traders who occupy a strategic position in the State’s economic pyramid and food distribution network. “Lagos State, which has a growing population presently estimated at over 24 million has a food system transaction value of over N6trillion annually, is in the process of establishing a dynamic food market system under the Food Systems Transformation Agenda to promote the preservation, storage, transportation and presentation of wholesome food to the populace, with the aim of reducing food waste, improve affordability, guarantee food safety, quality and accessibility. “This initiative led to the implementation of key projects such as the establishment of the Lagos Central Food Security System and

Logistics Hub, Ketu-Ereyun, Epe and the Mid-Level Agro Produce Hub, Idi-Oro, Mushin. As a mark of our resolve to follow through with the Agenda, work has commenced on three additional Mid-Level AgroProduce Hubs at Sangotedo, Agege, and Abule-Ado, while the first phase of the Lagos Central Food Security System and Logistics Hub will be commissioned by December 2024.” Speaking on how the 15,000 traders were selected for the Lagos Market Trader Money, Governor Sanwo-Olu disclosed that “The beneficiaries were identified by the State’s Agricultural Field Officers serving each LGA/LCDA in collaboration with the Iyaloja/ Babaloja General and Market Masters of each Local Government/Local Council Development Area across the State.”

He said that the ploy was to kill off public universities to pave the way for private universities to thrive just like the public primary and secondary schools were killed and the private ones sprung up to dominate the levels of education. Osodeke said that the National Executive Council(NEC) of ASUU held its meeting at the weekend at the Niger Delta University, Bayelsa State during which it reviewed its engagements with federal and state governments and was "seriously alarmed" at the worsening situations. He noted that ASUU had continued to engage with government "on how to reposition Nigeria's public universities for global reckoning by arresting the living and working conditions in the universities and the nation at large". However, the ASUU president lamented that instead of seeing reason with the Nigerian academics, the ruling class with investments in private education has decided to adopt "chronic pauperisation and failed promises" to emasculate the ivory towers. He said: "It appears members of the Nigerian ruling class are totally indifferent to the implications of the continued pauperisation of academics for the Nigerian dream and the future of the country. "If they truly love Nigeria, they must have realised that no nation can truly be greater than the quality and commitment of its scholars.

politicians and patriots, no government takes deliberate steps to kill the collective bargaining principle nor ignore the patriotic demands of its academics". Osodeke said that the engagements of ASUU with the present government of Bola Tinubu has yielded no positive results but a harvest of "failed promises" as it has continued with the "serial insensitivity" of past governments. As a mark of goodwill and assured hope for Nigeria's public universities, ASUU "for the umpteenth time" called on the Tinubu administration to set in motion the process of reviewing and signing the Nimi Briggs-led renegotiated draft agreement. Osodeke stated that ASUU had been without a renegotiated agreement with the federal government since 2009 and past efforts were scuttled by government's refusal to sign the draft agreement. "Nigerian academics are tired of platitudes laced with disdain for intellectuals; only concrete steps to restore their eroded dignity and degraded lives can guarantee lasting peace on our campuses," he said. On the hike in fees, the ASUU leader stated that NEC condemns in its entirety the wave of fee hike without inputs of the victims across our campuses, adding that it would jeopardise aspirations of many students. He insisted that students and their

T H I S D AY • THURSDAY, FEBRUARY 15, 2024

NEWS

Apomu Day celebrations...

From left to right: Oba Mufutau Gbadamosi, the Olofa of Offa;Olori Janet Afolabi Queen of Apomu Kingdom; Oba Kayode Afolabi, Alapomu of Apomu and Oba Abdulrasheed Akanbi, Oluwo of Iwo at Apomu Day celebration on February 10, in Apomu.

Abuja Residents Cry Out over FCDA’s Threat to Demolish Homes, Reallocate Lands Emmanuel Addeh in Abuja

Residents and property owners in Committee on Resettlement and Development Layout, popularly called CRD, in Lugbe, along Airport Road in the Federal Capital Territory (FCT), Abuja, have sent a plea to President Bola Tinubu to save them from threats by the Federal Capital Development Authority (FCDA) to demolish their homes and reallocate their lands to private estate developers. In a “Save Our Souls” petition,

copies of which were sent to several government authorities, including the Minister of the Federal Capital Territory (FCT), Attorney General of the Federation and Minister of Justice, Secretary to the Government of the Federation, and the National Assembly, the distressed residents said they had been subjected to incessant harassment and threats by officials of the FCDA working in connivance with the River Park Estate developer. The residents said the latest experience was on Wednesday,

February 7, 2024 when some of them returned home from work to find demolition notices pasted on the walls of their buildings by persons who claimed to be officials of the development control department. They said the notices informed owners of the affected houses that their properties had been marked for demolition within 21 days to make way for a central market in the area. In the petition, copies of which were sent to the FCT Office of the

Department of State Security (DSS), the residents expressed surprise that the layout, which had been in existence since 1996 with fully developed properties, would suddenly be converted into a general market without the knowledge of residents and land owners. Blaming the problem on the connivance of some FCDA officials through the development control department with a private estate developer, one Paul Odili to harass, intimidate, and illegally dispossess them of their properties,

Firm Seeks N23bn Compensation from AMCON over Alleged Illegal Conversion of Property Funke Olaode Suru Worldwide Ventures Limited, owners of Best Western Hotel, Allen Avenue, Ikeja, Lagos, has demanded special damages in

the sum of N23 billion against the Asset Management Corporation of Nigeria (AMCON) over the alleged unlawful continuing disruption/ damage done to Best Western Hotel. The firm is equally asking

Troops Burst Gun Factory in Plateau Seriki Adinoyi in Jos

Troops of the Military Task Force, Operation Safe Haven, in Plateau State, have raided a gun-making factory, seizing a large number of weapons and ammunition in the Mangu Local Government Area of the state. Spokesman of OPSH, Captain James Oya, who disclosed this in a statement said the factory was found during a Sweep Operation in a hilly area, where a lone building used for making guns was located on a high point in Pakachi Village in the local government. The statement added that many illegal firearms and related items were recovered, and one suspect Mr. Tapshak Plangji, a 25-year-old man, who was suspected to be part of the unlawful activities at the factory, was arrested. He said the alleged owner of the factory, Mr. Nuhu Meshack, was on the run, and the security forces were after him. The items recovered, according to the statement were 5 AK 47 rifles, 4 AK 47 magazines, 11 rounds of

7.62mm ammunition, 5 rounds of 9mm ammunition, 21 Dane guns, 4 revolver rifles, 11 pistols with 5 magazines, 17 gun-barrels, 6 rounds of 0.44-inch ammunition, a carbide cylinder with accessories, 3 saws, and 12 filing machines. Others were 4 hammers, 6 manual drilling machines, 2 electrically operated filing machines, 2 clamps, one spraying machine, one tiger generator, and various drilling irons as other items that were seized. The task force said Mr. Plangji and the recovered weapons and items were in the custody of the troops for further investigation. He said the operation was a testament to the dedication of the troops and their cooperation with other security agencies in combating illegal arms production and distribution, and all criminal activities in the communities. The statement added that the operation highlighted the significance of joint efforts between security agencies and local communities in protecting the nation from the dangers of illicit arms manufacturing and trafficking.

AMCON to pay it general damages in the sum of N5 billion for what it termed the deep-rooted and continuing disruption/damage done to Best Western Hotel’s business, personal reputation and standing in the business community, and conversion by taking and/or wrongful interference with goods and unlawful detention thereof. The company is further demanding that AMCON pays it a sum to the tune of N150 million as the cost of initiating the legal action. Suru Worldwide Ventures Limited in a pre-action notice dated January 11, 2024, and signed by its lawyers, Layi Babatunde (SAN) and David Owoeye, posited that unless there are immediate steps to stop the further dissipation of their client's properties they shall be left with no alternative than to institute a claim.

“We act as solicitors to Suru Worldwide Ventures Ltd and Mr Edward Akinlade of 2, Shany way, Off Shonny Highway, Shonibare Estates, Maryland, Ikeja, Lagos (hereinafter where applicable referred to as clients) and it is on their instructions that we write to you. “You will also recall that on the 22nd of September 2017, at about 4:30 a.m., in the dark hours of the morning, your agents accompanied by heavily armed men, under the guise of enforcing a court order obtained behind our clients in suit no. FHC/VCS/1059/2016: AMCON V. IGP & 3ors, stormed our client’s hotel premises (known as Best Western Hotel) at No. 12, Allen Avenue, Ikeja, Lagos, ” it said. The Apex court will this week Friday, February 16 deliver a ruling in the civil application.

the resident urged Tinubu and the FCT Minister to immediately wade into the simmering situation to avoid it imploding and resulting in avoidable multi-dimensional crises. Since 2014, the residents said Odili, through his firms, Houses for Africa Nigeria Limited; Jonah Nigeria Limited, and Paulo Homes Limited in River Park Estate, has been waging a series of illegal wars of conquest to achieve territorial expansion of his allocation into CRD land area. “CRD layout, covering a land area of about 474 hectares, was created in 1996 by the FCDA to relocate and resettle persons affected by the dualization and expansion of the Airport Road within the Lugbe 1 area. “Most of the lands in the CRD Layout were legally acquired from the FCDA. The layout was comprehensively designed with various infrastructures, including schools, hospitals, markets, town halls, recreational facilities, religious places of worship, police post, and other public institutions, etc. “The area in contention, CRD Lugbe 1 Layout is identified in the Abuja Geographic Information System (AGIS) as Plot No. 0235, where land titles owners have fully developed and occupied since 1996,” the Chairman of the CRD Residents and Landlords Association, Abdulwasiu Mustapha, said in the petition. Available information from the FCDA shows that Odili and his private estate development firms, who were allocated part of the CRD area in 2017 by the then Nasir el-Rufai administration in the FCT, have so far acquired almost half of the area. “Our lands were given to Paul

Odili without due process of law or revocation of existing titles in clear violation of the rights of the property owners. Since then, our lives have been a living hell. “This man has deployed all known means to forcefully sack us from our lands. He has deployed security agencies to constantly, harass, intimidate, threaten, arrest, and detain our people without any lawful excuse. “He has demolished our homes, barricaded our roads, dug trenches around our houses, and fenced our community in without outlets to the rest of the world. We have written to virtually all public institutions for intervention without success. We have sought reprieve from the courts, but he has ignored every restraining court orders without any consequence. “Today, we are still in court with him, while some of our people have obtained judgments against him, both at the High Court and Court of Appeal without abating his threats and harassment. We want the president and the FCT minister to wade in and save us,” the residents cried out in their petitions. The chairman of the residents association said it was surprising that the promise to convene a meeting of all stakeholders in the crisis to discuss the issues was yet to materialise several days after. Mustapha said residents who attended the meeting with Galadima were surprised that instead of addressing the areas of breaches of the extant laws regarding building designs and structures, he claimed the CRD community has been re-designed, and that most of the fully-developed houses and structures fell within the road corridors and a central market.

Lent: Cleric Urges Nigerians to Seek Face of God Nigerians have been urged to seek the face of God, turn from their wicked ways and ask for forgiveness “for our Creator to heal the country completely”. Speaking on Wednesday during an Anointing Service to celebrate the beginning of Ash Wednesday, the Chairman, Board of Trustees (BoT) of Motailatu Church of God (MCG), Senior Superintendent Gabriel Akinadewo (Omo Jesu II), said “the Lord's hand is not shortened that it cannot save Nigeria, neither his ear heavy, that it cannot hear the cries of Nigerians” but sin has

separated Nigerians from God. Preaching on the Theme: 'Come Ye to the Waters' at the Restoration Parish of the Church in Akute, Ogun State, Akinadewo declared that Nigerians must urgently seek the face of God to eradicate the socio-political, economic and security challenges in the country. Quoting Isaiah 55:7, he said: “Let the wicked forsake his way, and the unrighteous man his thoughts, and let him return unto the Lord, and he will have mercy upon him, and to our God, for He will abundantly pardon”.

The cleric said the hunger in the land can be solved “with sincerity and right policies from those in authority” and the divine backing of God. Quoting II Kings 7, Akinadewo declared that the famine in Samaria became a thing of the past when God sent Prophet Elisha to speak to the people. On insecurity, he likened the invasion of Nigeria by kidnappers, terrorists and bandits to what King Jehoshaphat faced in Judah when he was threatened by Moabites and Ammonites.

“In II Chronicles 20:20, King Jehoshaphat told the people: 'Believe in the Lord Your God, so shall ye be established. Believe His prophets, so shall ye prosper'. “Eventually, God destroyed their enemies and the Children of Judah started dancing. The time for God to destroy all these blood-thirsty maniacs in Nigeria is here. Nigerians will dance and rejoice eventually. This country shall prosper. But, we must turn to God,” he said. The 40-day Lenten season ends on March 24 (Palm Sunday) while Easter Sunday holds March 31.

thursday february 15, 2024 • T H I S D AY

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PROVIDING ENEGRY FOR OUR MARKETS...

L-R: Consul General, Consulate General of the Federal Republic of Germany, Weert Borner; Susanne Schroeder of Department of Economic Cooperation, German Embassy, Abuja; General Manager, SOLAD Energy, Oyinda Sogunle; Managing Director/CEO, InfraCrefit, Chinua Azubike; German Parliamentary State Secretary to the Federal Minister for Economic Cooperation, Dr. Bärbel Kofler, and Special Representative of the United Nations Secretary-General for Sustainable Energy for All (SEforALL), Damilola Ogunbiyi, during UN Envoy and German Representatives’ visit to Iponri Market to inspect the solar installations under Universal Energy Facility (UEF) executed by SOLAD Energy in Lagos... recently

Rivers Police Recommend Dismissal of Officers Involved in N4.2m Extortion Blessing Ibunge in Port Harcourt

The Rivers State Police Command has recommended the dismissal of two police officers arrested for extortion of N4.2million from a victim in the state. The state Commissioner of Police, Olatunji Disu, had informed the public recently that

the three officers, ASP Doubara Edonyabo, ASP Talent Mungo, and the Inspector Odey Michael, were arrested for unlawful abduction and extortion of the said amount from the victim. Disu said: “The victims were arrested in Abia State taken to Delta, Bayelsa and Rivers States respectively for alleged fraud by yet-to-be-seen complainant, who was extorted of the sum of

Uba Vows to Transform Kaduna into Top Investment Haven

Wale Igbintade

The Governor of Kaduna State, Senator Sani Uba, has said his administration is building a sustainable infrastructure to make the state become the beautiful bride for investors around the world. According to the governor, good and quality infrastructure will help his government realise the dream of transforming Kaduna state to investors’ delight. According to the Special Adviser to the Governor on Projects, Dr Baba Musa, the

governor’s approach to development and transformation of his State is indeed unique, noting that the State has decided to equip top government project managers with the latest knowledge and skills in project control and construction quality management. Musa explained that the governor identified the best training and consulting firms in Nigeria and abroad that would help provide the highest quality resource persons with the knowledge and skills on the global best practices in this area.

Industry Ministry, NiDCOM Partner to Boost Diaspora Investment Opportunities Michael Olugbode inAbuja The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, has expressed the need to work with the Nigerians in Diaspora Commission (NIDCOM) to boost Diaspora investments in the country. Speaking during a courtesy call by the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike DabiriErewa, the minister said she would create a full department called “Catalytic Investment Unit” in the ministry to accommodate all Diaspora related matters. The minister commended

NiDCOM for partnering with the private sector-led Nigerian Diaspora Summit Initiative (NDSI) to organise the Nigerian Diaspora Investment summit, which has provided a platform for Nigerians who want to invest. She said the ministry would synergise with NiDCOM and NDSI to make the summit even stronger in-line with the ministry’s investment initiatives and policies. The minister said: “I have been charged by Mr President to look for inward investment into the country. NiDCOM has saved me from starting from the scratch.” We will build on your platform and work together.”

Early Detection Key to Cancer Treatment, Says NDDC Chairman

The Chairman of the Niger Delta Commission (NDDC), Chiedu Ebie, has identified cancer as a monster disease that has claimed the lives of millions of people in the world, including women and children, stressing that early screening and detection are vital to saving lives. The NDDC boss spoke while declaring open the 2024 World Cancer Day held at Ladyoak Cancer Care Centre, Central Hospital Agbor, Delta State

yesterday. Ebie, who was represented by his Special Assistant, Dr. Godwin Edozie, said in Africa alone, the incidence of various types of Cancer is disheartening, pointing out that in the year 2020 more than million new Cancer cases were recorded in Africa with about 700,000 while about 50 per cent of new Cancer cases in adults are due to Breast , Cervical, Prostrate and Liver Cancer amongst others.

$3000, equivalent to N4,200,000.” The police suspects were subsequently paraded for misconduct, abduction and

extortion. In the current development, on the ongoing investigation into the extortion incident

involving the three police officers, the state Police Public Relations Officer, SP Grace Iringe-Koko, said after

a thorough investigation, two officers were officially queried and recommended for dismissal as per established procedures.

Police, Hunters Neutralise Notorious Kidnapping Gang Members in Bauchi

SegunAwofadejiinBauchi

The Bauchi State Police Command with support from local hunters yesterday neutralised a trans-border kidnapping gang members in Giade Local Government Area of the state. The state Police Commissioner, Auwal Muhammad, who disclosed

this to journalists yesterday, said a team of police and hunters engaged the kidnappers in a gun duel, killing all of them. The state police boss said the kidnapping gang has been terrorising Burra, Ningi, Jama’are, Itas-Gadau, and Giade LGAs of the state.

According to him, “Taping from the fruits of collaboration with relevant security agencies, on February 11 at about 0200hrs, information at the disposal of the Command indicated that some unknown people numbering about five armed with AK-47 riffles invaded Giade LGA with

the sole aim to kidnap innocent citizens in the locality. He added that: “On receiving the information, a team of detectives in collaboration with Ahmed Ali Kwara Hunters Squad swiftly swung into action and engaged the suspected kidnappers in a gun duel.”

Alleged Sexual Harassment: ICPC Closes Case against UNICAL Professor Alex Enumah in Abuja

The Independent Corrupt Practices and Other Related Offences Commission (ICPC), yesterday closed its case in the trial of the suspended Dean of the Faculty of Law, Prof. Cyril Ndifon, after calling four witnesses. Ndifon and his lawyer, Mr

Sunny Anyannwu, are standing trial on an amended four-count charge bordering on alleged sexual harassment and attempt to perverse the cause of justice. They pleaded not guilty and were admitted to bail in the sum of N250 million and N50 million respectively. At yesterday’s proceedings,

the ICPC counsel, Mr Osuobeni Akponimisingha, who had earlier said he had about seven witnesses against the professor, announced the closure of his case after a forensic analyst, Fungo Bwaigu, his fourth witness, was cross-examined by the defendant’s lawyer, Mr Joe Agi, SAN. Recall that the prosecution

had on Monday, obtained leave of court to display the forensic analysis and examination report from the phones of the defendants and a witness the court simply identified as TKJ. The said exhibit contained screenshots of WhatsApp chats, nude videos, phone calls and text messages.

IYC Accuses Tinubu of Alleged Political Alienation of Ijaws in His Govt Ijaw as the Amnesty Programme or commission like the NDDC or a non-Ijaw as its coordinator. Olusegun Samuel inYenagoa The umbrella body of Ijaw youths, the Ijaw Youth Council (IYC), has accused President Bola Ahmed Tinubu of suffocating and alienating the Ijaw people in his government. IYC also reiterated their earlier call to the president not to make the mistake of appointing non-

Coordinator. A statement signed by its spokesman, Benabia Princewill, said while the body would not banter words with our sister tribes that are also suffering same issues of deprivation, the Niger Delta Presidential Amnesty Programme (PAP) is not like any other ministry

Niger Delta Ministry. The statement stated that the Ijaws solely paid the price for the establishment of the PAP and have been magnanimous in accommodating other tribes in the programme so far, “hence we are confident that President Tinubu will not make the mistake of appointing

“The Ijaw Youth Council have been keenly following political developments of the Tinubu-led federal government, and so far we are beginning to see that the government is exhibiting high level of hatred against the Ijaw people, and we will not continue to keep quiet forever.

Delta Monarch, Subjects Jubilate as Court Orders Return of Community Land Acquired by Nigerian Army

Sylvester Idowu in Warri

There was wild jubilation in Uvwie Local Government Area of Delta State yesterday after the declaration by an High Court in Effurun nullifying the purported acquisition of parts of Ohore land by the Nigerian Army.

Hundreds of Uvwie Chiefs and indigenes, especially those from Ohore one, danced and sang on major roads in Uvwie LGA thanking God for the legal victory. Tagged: ‘Victory Walk’, the excited indigenes carried various placards thanking the judiciary

for the case which lasted 10 years before “we can sing the songs of victory.” They had taken the bold move to reclaim their land from the Nigerian military to the High Court in Effurun in 2014. According to the indigenes, the Nigeria Army represented by the Nigerian Army 3 Battalion,

Effurun barracks extended far beyond what was legally acquired for them in the early sixties. As the news of the legal victory filtered out, the Uvwie people, including some palace chiefs, took to the streets in celebration.

House Urges PSC, IG to Consider Community Policing Constabulary Scheme Volunteers for Recruitment JulietAkojeinAbuja

The House of Representatives yesterday urged the chairman, Police Service Commission (PSC), and the Inspector General of Police (IG) to strongly consider members of the community policing constabulary scheme (volunteers), who have diligently performed their duties,

for recruitment into the Nigeria Police Force. It also urged the Minister of Interior and the Commandant of the Nigeria Security and Civil Defence Corps (NSCDC) to strongly consider the corps volunteers, who have diligently performed their duties, for recruitment into the Civil Defence Corps during recruitment exercises.

These resolutions followed the adoption of a motion on the Need to Consider the Recruitment of Community Policing Constabulary Scheme and Nigeria Security and Civil Defence Corps volunteers into the Nigeria Police Force and Civil Defence Corps (NSDC) moved by Hon. Sulaiman Abubakar Gumi at plenary yesterday.

Abubakar recalled that there is a news platform in July 2019, where the then Chairman of the Nigeria Governors’ Forum and former Ekiti State Governor, Kayode Fayemi, after meeting with the former President, Muhammad Buhari, disclosed plans to use N power beneficiaries to kick start community policing in the country.

‘SLAPP Suits Biggest Threat to Media Organisations in Nigeria’

Ahmad Sorondinki in Kano

The International Press Institute (IPI) has trained senior journalists on how to avoid smart Strategic Laws Against Public Participation (SLAPP), describing it as one of the biggest threats facing several media organisations in

the country. Delivering an opening address at a training session yesterday in Kano, the President of the IPI Nigeria, Musikilu Mojeed, said the damage done by SLAPP has far-reaching effects on media professionals in the country. The training workshop with

the theme: ‘Training for Senior Journalists on How to Avoid SLAPP Suits and Remain Ethical, with a Focus on Media Law Ethics, Fact Checking’, was organised by the International Press Institute with the support of MacArthur Foundation. Mojeed lamented how some

journalists have been routinely harassed, assaulted, incarcerated, and sometimes killed, referring to the 2022 World Press Freedom Index by Reporters Without Borders (RSF) Nigeria which reports that Nigeria is ranked 129th out of 180 countries surveyed, scoring just 46.79 points.

THURSDAY FEBRUARY 15, 2024 • T H I S D AY

Thursday, February 15, 2024 • T H I S D AY

GamingWeek Edited by Nseobong Okon-Ekong | gamingweek1117@gmail.com | Tel: 08114495324

Win Or Lose, Lottery Activities Answer to Good Causes TR

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At a recent inauguration and handover of vital medical equipment to selected health institutions across the country, the National Lottery Trust Fund, which receives 20 per cent of the value of every lottery ticket, demonstrated how the promotion of lottery good causes is a social service which can cater for the sick and aged, the unemployed and uneducated, the talented but undiscovered young sportsmen and women, victims of natural and ecological disasters, refugees and homeless. Nseobong Okon-Ekong reports that the NLTF, established under the National Lottery Act 2005, is, therefore, an agency that can assist the government in promoting social inclusion and economic welfare for the poor

L-R: Hon. Canice-Moore Nwachukwu, Senator Kaka Lawan and Hon. Bitrus Jisalo at the commissioning

Some of the vital medical equipment funded by the National Lottery Trust Fund

t was yet another milestone in the history of the national lottery in Nigeria as an assortment of stakeholders in the gaming industry from all nooks and crannies of the country gathered at the Shehu

a plan to cover the entire 36 states of the federation and the Federal Capital, working to improve access to quality healthcare services and providing a platform that promotes the highest standard of care to people in rural areas.

Musa Yar’Adua Foundation in Abuja in response to an invite from the Executive Secretary of the National Lottery Trust Fund, Dr. Bello Maigari. They all came to witness the official commissioning and handover of vital medical

equipment funded by the National Lottery Trust Fund. According to Maigari, the groundbreaking event was one of many of its kind since the NLTF began intervention in health in the last few years. He disclosed

The equipment with which the NLTF boss hopes to attain his goal of having the largest number of Nigerians benefit from investments in high-quality medical facilities include digital X-ray machines, colour-ultrasound machines, suction

Season of Recognition for Nigeria’s ‘Mr. Lottery’ NNigeria’s ‘Mr. Lottery’, Lanre Gbajabiamila, Director-General, National Lottery Regulatory Commission (NLRC), was recently inducted into the Africa Gaming Hall of Fame with an Award of Excellence at the International Casino Exhibition (ICE) London, 2024, in recognition of his matchless dedication, commitment and novelty to the development of lotteries and gaming in Africa. The picture shows Kate Chambers from Clarion Gaming, organizers of ICE, handing over the award. The London ICE award was preceded by yet another record award conferred on Gbajabiamila by the National Data Protection

Commission under the chairmanship of the Minister of Communications, Innovation and Digital Economy. Presenting the Special Recognition Award to Gbajabiamila, the Permanent Secretary in the Communications Ministry, Farouk Yusuf Yabo, who stood in for the minister, commended the lottery boss for his effective contributions to data protection in Nigeria. Eulogising the NLRC DG, the minister said, “Your steadfast support and contributions to the National Data Protection Commission have not gone unnoticed. Your collaboration has been instrumental in furthering the goals of both commissions.”

Kate Chambers (left) from Clarion, organizers of the ICE Gaming Congress presenting the prestigious Africa Gaming Hall of Fame Award to Mr. Lanre Gbajabiamila, the Director General of National Lottery Regulatory Commission in London

Are Puts AGE Lagos on Global Stage Preparatory to the first-of-itskind four-day Africa Gaming Expo (AGE) in Lagos-Nigeria between March 12 and 15, Mr. Bashir Are, Chief Executive Officer, Lagos State Lottery and Gaming Authority, whose agency is a key facilitator of the event, has recently been admitted and confirmed as a member of the exclusive circle of International Masters of Gaming Law. The elevation was announced on the eve of the 2024 International Casino Conference (ICE). Are is now officially a member of trustees of the International Association of Gaming Regulators (IAGR) and International Masters of Gaming Chairman BetConstruct International and myself at the just Law. concluded ICE LONDON Conference discussing AGE LAGOS 2024

Permanent Secretary, Federal Ministry of Communications, Innovation and Digital Economy, Engr Farouk Yusuf Yabo, (left) presenting the Special Recognition Award of the National Data Protection Commission to Mr. Lanre Gbajabiamila, DirectorGeneral, National Lottery Regulatory Commission

IMGL is a not-for-profit association comprising over 300 members globally. Its members are recognized as the leading experts in their jurisdictions and are at the heart of developments in gambling law and regulation worldwide. The CEO of the Lagos State Lottery and Gaming Authority participated in the World Regulatory Briefing at the ICE London Conference, where he represented Nigeria on the African stage to talk about the African Regulatory landscape. Other leading regulators at the round table were Caroline Kongwa of the South Africa National Gambling Board, Peter Kesitilwe of Botswana Gambling Authority, Hanra Einarsson Kimbald of Better Collective, Gifty-Rita Amoah of the Gaming Commission of Ghana and

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

Weldon Koros of the Association of Gaming Regulators of Africa. Their deliberation centred on the importance of provincial gaming regulation due to social-economic, cultural and economic issues.

machines, kidney dialysis machines, hydraulic beds, wheelchairs, blood banks, and a host of other high-tech facilities. The projects were initiated and funded through proceeds raised from the lottery and gaming sector. These medical facilities were part of a large consignment already delivered to a number of healthcare centres across the country, including the State House Clinic, which received a brand new, well-equipped ambulance from the agency dedicated for use in the Presidential fleet. Represented at the event was the special guest of honour, the Secretary to the Government of the Federation, Senator George Akume. The guest of honour, Minister of Health and the Coordinating Minister of Social Welfare, Prof. Muhammad Aliyu Pate, was also represented. However, the distinguished guest of honour, Minister of Special Duties and Inter-governmental Affairs, Hon. Zephaniah Bitrus Jisalo, came in person. He was accompanied by the Permanent Secretary of the Federal Ministry of Special Duties and Inter-governmental Affairs, Mrs Patricia Robert Ibiene. The Special Adviser to the President on Policy Coordination, Hajia Hadiza Bala Usman, was expected at the event.

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T H I S D AY • THURSDAY, FEBRUARY 15, 2024

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Osimhen Missing as Ekong, Lookman, Aina Make AFCON 2023 Best XI

Femi Solaja

Reigning African Player of the Year, Victor Osimhen, was omitted from the list of Best XI players selected by CAF’s Technical Study Group from the 34th Africa Cup of Nations concluded on Sunday in Abidjan with hosts Côte d’Ivoire emerging champions. However, Osimhen’s On-field Captain, William Troost-Ekong, defender Ola Aina and forward, Ademola Lookman were listed in the squad unveiled yesterday by CAF. The Napoli top striker scored just one goal and had three others nullified after VAR reviews. The most painful one was Nigeria’s second goal against South Africa’s Bafana Bafana in the semi final. Five Nigerians were reported to have died from the shock that followed the cancellation of that goal. Ekong emerged as the Most Valuable Player of the tournament – the first time that a defender would win the accolade. He also became the first player to score against Cote d’Ivoire in an AFCON final match. The previous final matches that Cote d’Ivoire played ended goalless and in

shootouts. The new African champions, Cote d’Ivoire, also have three players on the list. They include: Ghislan Konan, Jean Michael Seri and Franck Kessie. Kessie’s goal in the final helped the home side to secure the title. He is the first Ivorian player to score in an AFCON final match as their previous matches had ended

goalless. But Sebastian Haller who scored the winning goal as well as the one that took Cote d’Ivoire to the final did not make the list. South Africa, who entered the competition as underdogs but marched gallantly to a third-place finish has goalkeeper Ronwen Williams and attacking midfielder

Teboho Mokoena listed in the Best XI. Williams made history when he saved four penalties against Cape Verde during the competition. DR Congo, fourth place, also contributed two players to the Best XI: Yoane Wissa and Chancel Mbemba. Goalkeeper: Ronwen Williams (South Africa)

Mbappe, Barcola Deny Sociedad Love on Val’s Day

RESULTS

Kylian Mbappe and Bradley Barcola were on target as PSG battled to a 2-0 win over Sadiq Umar’s Real Sociedad in the Champions LeagueRound of 16 first leg. The Parisians are now in firm control of their destiny ahead of the second leg in Spain next month, despite Sociedad arguably being the better side until Mbappe turned home from close range

PSG 2-0 Sociedad Lazio 1-0 B’Munich

EUROPA

Ademola Lookman (right) was one of the three Super Eagles selected in the AFCON 2023 Best XI squad released...yesterday

‘Let’s Do It Again’Team Praises Super Eagles, Thanks Nigerians Organisers of the ‘Let’s Do It Again’ campaign that mobilised and galvanised Nigerians from all walks of life to support the Super Eagles’ participation at the 34th Africa Cup of Nations in Cote d’Ivoire, have commended the team’s efforts that resulted in a second-place finish, and also heaped praises on Nigerians who gave the campaign their time, sweat, gravitas, energy and resources. Senior Partner of Sportdom Limited, Toyosi Oyetunji, said the campaign was a call to make Nigerians believe in the Super Eagles (and indeed other National Teams) once more. “Our objective is to revive the nostalgic enthusiasm for Nigeria football, engaging both the young

(South Africa), Jean Michael Seri (Cote d’Ivoire), Franck Kessie Strikers: Yoane Wissa (DR Congo), Ademola Lookman (Nigeria), Emilio Nsue (Equatorial Guinea)

Kylian Mbappe (right) and Bradley Barcola were on target as PSG defeated Real Sociedad 2-0 in the first leg of the UEFA Champions League Last 16 clash in Paris on Wednesday evening. PHOTO : AFP

CHAMPIONS LEAGUE

Feyenoord v Roma Galatasaray v S’Prague Shakhtar v Marseille Young Boys v Sporting AC Milan v Rennes Benfica v Toulouse Lens v Freiburg SC Braga v Qarabag

Defenders: Ola Aina (Nigeria), Ghislan Konan (Cote d’Ivoire), William Troost-Ekong (Nigeria), Chancel Mbemba (DR Congo). Midfielders: Teboho Mokoena

and the old, with a particular focus on the Gen Z demographic. To amplify this message, we engaged a plethora of celebrities and influencers to galvanise support and convey the message that every Nigerian is an integral part of the Super Eagles’ journey. “Big kudos to the Super Eagles for their silver medal-winning effort, which is commendable as 24 teams started the race. Big kudos also to all Nigerians, including the Minister of Sports, Senator John Owan Enoh and the chieftains of Nigeria Football Federation led by Alhaji Ibrahim Gusau who believed in the campaign and gave it oxygen and drive.” On his part, Project Coordinator, Abubakar Umar Danladi, said: “The

Super Eagles did a marvelous job wading through the group phase, conquering subsequent challenges and getting to the Final. “In the Final match, we were up against so many odds, hurdles and obstacles as we faced the host nation. In reality, there were more than 80,000 spectators in that arena and it would have been a daunting task for any team. We praise the Eagles for their second-place finish, and their efforts surely were not in vain as Nigeria produced the Player of the Tournament in William Ekong. “We also had three players in the competition’s Best XI, which was no mean feat. “Like Mr. President said while receiving the team in Abuja on

Tuesday, their dedication to the cause united us all in pride and solidarity, and was another pointer that in our diversity lies our strength and ability to conquer.” Danladi expressed immense gratitude to the Honourable Minister of Sports, Senator John Owan Enoh; the President of NFF, Alhaji Ibrahim Musa Gusau; General Secretary of NFF, Dr. Mohammed Sanusi; the NFF Board and Management and; Muri Tafida, the Chairman of Bergen Horn Limited, for their tremendous support for the campaign. “The 34th Africa Cup of Nations is now in the past. We look forward to the 2026 FIFA World Cup qualifiers and the 35th Africa Cup of Nations finals in Morocco next year.”

CHAMPIONS LEAGUE just before the hour mark after Marquinhos flicked on a corner. PSG have been knocked out of the competition at this stage in five of the last seven seasons, as their wait for a first Champions League title goes on, and there was little to be impressed by with their start to the match.

WADA Refers Nigeria’s Noncompliance on Anti-doping to CAS World Anti-Doping Agency (WADA) has referred Nigeria's anti-doping agency to the Court of Arbitration for Sport (CAS) over its alleged non-compliance. The Nigerian body was sanctioned by WADA in November last year for failing to address "critical requirements", but disputes WADA’s allegations. Under WADA’s recommended punishments, Nigeria's flag would not be flown at competitions and the West African nation would be ineligible to host major sporting events until reinstatement conditions were met. Nigeria’s flag will not be amongst those of participating countries when the African Games kickoff in Accra, Ghana early next month. Meanwhile, Kenya's Sarah Chepchirchir has been handed an eight-year ban after the former Tokyo Marathon winner was found to have violated anti-doping regulations for

a second time. The Athletics Integrity Unit (AIU) said the 39-year-old had returned an adverse analytical finding for testosterone in a sample collected at a marathon in Thailand in November. Chepchirchir's results will be disqualified from 5 November last year, with her ban backdated to 22 December. She was previously banned for four years in 2019, backdated to 11 April 2018, because of abnormalities in her athlete blood passport. Chepchirchir, who won the Tokyo Marathon in 2017, had the option to have her latest ban reduced by one year by formally admitting to the charge, but failed to do so by the AIU's deadline of 11 February. Last month the AIU banned Kenyan pair Hosea Kimeli Kisorio and Ayub Kiptum for three years, for use of recombinant erythropoietin (EPO) and testosterone respectively.

Toriola Leads Nigeria Team Hyde Energy Boosts Lagos Polo Tournament to WTTC in South Korea

with Second Year of Sponsorship Hyde Energy, a leading oil and gas company based in Lagos, Nigeria, is thrilled to announce its ongoing sponsorship of the prestigious Lagos Polo Tournament for the second consecutive year. During the final week of the the highly anticipated Silver Cup competition, Hyde Energy reaffirms its commitment to supporting the Lagos Polo Club and the vibrant sport of polo. Throughout the tournament, Hyde Energy proudly sponsored

the Most Valuable Player award, recognising the outstanding talent and dedication exhibited by athletes in the polo community. The final showdown of the 'Low Cup' was played on Sunday, February 11, 2024 was a spectacle to behold, with Dimeji Aluko shining as the Most Valuable Player in an exhilarating match that kept spectators on the edges of their seats. The company's steadfast support has contributed to the success and excitement of each match, keeping

spectators engaged with nail-biting moments and fierce competition. "We are thrilled to continue our sponsorship of the Lagos Polo Tournament for the second year in a row," said Mr. Oladimeji Edwards, Chief Executive of Hyde Energy. "Polo is a sport that embodies excellence, passion, and tradition, and we are proud to support the talented athletes who showcase these values on the field. Our partnership with the Lagos Polo Club underscores our commitment

to fostering community engagement and promoting the growth of sports in Nigeria." Hyde Energy is renowned for its commitment to providing reliable energy solutions, including gas, lubricants (engine oil), petrol, diesel, and more. As a trusted energy provider, with a focus on quality, reliability, and innovation, Hyde Energy remains dedicated to delivering high-quality products and services to meet the diverse needs of its customers across Nigeria.

Africa’s most decorated table tennis legend, Segun Toriola, will lead Nigeria contingent to the 2024 ITTF World Team Table Tennis Championships (WTTC) taking place in Busan, South Korea from February 16 to February 25. According to the Nigeria Table Tennis Federation (NTTF), Toriola was picked based on his wealth of experience, coupled with his cordial relationships with most of the top players in the national team. With the formal retirement of the former national coach Nosiru Sule last year, Toriola became the best option for the federation as the

best hand to handle the teams to the WTTC which also serves as a qualifying tournament for the Paris 2024 Olympic Games. Toriola's name is synonymous with Nigerian and African table tennis having won numerous African titles and appearing in seven Olympic Games, Toriola has been influential in Africa while he is respected globally. At the Busan 2024 WTTC, the Nigerian men's team has been drawn against Japan, Chinese Taipei, Czech Republic, and Madagascar in Group 8 as the eight groups of five countries in each group will be aiming to advance to the knockout rounds.

Thursday, February 15, 2024

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Price: N400

MISSILE

Atiku Abubakar to Daniel Bwala

“Daniel Bwala offered his services and support to the Atiku/Okowa Presidential Campaign Organisation as a spokesperson – and it was a position he held during the last presidential campaign. Subsequently, and after the election, the need for a campaign spokesperson has terminated, and Bwala has moved on with his career. We duly urge the public to henceforth recognise, introduce, and define Daniel Bwala by his current vocation and alliance”—statement from former Vice President Atiku Abubakar Media Office

olusegunadeniyi the verdict olusegun.adeniyi@thisdaylive.com

Education and the Fiditi Proposal O ld students’ associations can be a bridge between the past and future. In several countries, academic institutions owe their survival and development to the vibrancy of these alumni bodies. But though they engender a spirit of unity necessary to surmounting difficult challenges facing our country today, we are yet to sufficiently tap into this critical opportunity. Or at least so I thought. Until January last year when I received a call from former Nigerian Television Authority (NTA) Director General, Mr Sola Omole. He made what I considered a rather unusual request on behalf of Fiditi Grammar School Old Students Association (FIGSOSA) of which he is a member. To mark its 70th anniversary this February (then 13 months away), FIGSOSA wanted a commitment from me that I would write a column about the standards of education in Nigeria over the past 50 years. Five months later, 22 May 2023 to be specific, I received a letter jointly signed by FIGSOSA national president, Professor Adesola Ogunniyi, chairman of the anniversary’s organising committee, Mr Oladapo Lagunju and Omole who chairs the publicity committee. After highlighting the theme for the 70th anniversary, ‘Sustainable Youth Development—Roles for Old Students Associations’, they formally made their request. “Our desire is that using the celebration and our theme as background, you review our education standards and perhaps proffer ways of improvement,” their letter stated. “We want this to be our contribution to the all-important debate about the place of education in Nigeria. We request that this suggested piece appear in your backpage VERDICT column on any day between the 12th and 16th of February 2024.” I thank the leadership of FIGSOSA for their concern about education in Nigeria. I feel very humbled that they consider my intervention on the issue of any consequence. Honestly, I have found it difficult to process the amusing request. Whoever came up with the idea obviously has more faith in this column than I do. But for whatever it is worth, considering the reminder I got last week, I intend to keep my promise. First, let me say a few words about Fiditi Grammar School in Oyo State. Founded in 1954, the late Mr Christopher Okigbo (who would become a globally renowned poet) was a teacher and later vice principal and sports master at the school. The duo of Okigbo and then principal, Chief Alex Ajayi, according to Omole, recruited Teslim ‘Thunder’ Balogun as coach for the football team that won many laurels. Other prominent products of Fiditi Grammar School include Dr. Bode Olajumoke, a prominent lawyer, businessman and former Senator who was for 20 years FIGSOSA National President, Professor Adejare Agboola of Applied Botany Department at the University of Agriculture, Abeokuta, Professor Olufemi Durosaro of the University of Ilorin, and Professor Samson Omotosho of the University of Phoenix, Arizona, United States. Major General Kola Ogunkoya (rtd), a one-time NYSC Director General, Naval Admiral Segun Egbedina (rtd), who commanded NNS Aradu, AIG Lanre Bankole (rtd) as well as Professors Bridget Sokan, Adekunle Akinyemi and Ogunniyi, (current FIGSOSA president and consultant Neurologist), are products of the school. Of course, there are hundreds of other prominent ex-this, ex-that who have also passed through the school. Omole himself was for several years the General Manager, Public Affairs, Chevron Nigeria Limited, before returning to NTA as DG. Now to the issue at hand. While FIGSOSA asks that I review education in Nigeria in the past five decades, I believe it would be more productive to share my thoughts on their 70th anniversary theme

Christopher Okigbo...the renowned poet was a teacher and later, vice principal at Fiditi Grammar School. Photo, courtesy: Torch Taire because it centres on the role that alumni associations can play in the development of education in our country. Indeed, the immense benefits of alumni networks have led to the establishment of global charity organisations including ‘Future First Global’, based on the findings of a research study that covered countries in Asia, East and West Africa, Latin America, North America, Europe and the

Middle East. The study, sponsored by the Open Society Foundations, reveals how former students can engage with their alma mater as role models, mentors, work experience providers and trusted advisers. Former students, according to Future First Global, UK, are an incredible and largely untapped resource that every school has. “We think there are over 500 million adults globally who would give back to their old schools if they were asked, and yet we estimate only 2% are currently doing so.” Not surprisingly, while only two percent of adults polled had engaged with or gone back to their former high (secondary) schools, 52 percent of those asked said they would be willing to do so. Therefore, we have a pool of resources that can be harnessed for the development of our education sector, especially in Nigeria. And I am delighted that FIGSOSA is leading the way. From primary school which lays the foundation, to university which prepares students for an increasingly competitive job market, all levels of education are important. But perhaps the most important is High (secondary school) that stands in the middle. In an ideal scenario, this level of education covers a broader scope of subjects with just enough depth to prepare and equip an individual with the requisite knowledge for gainful occupation and economic self-sufficiency. The fact that many of our university students are ill prepared for rigorous intellectual engagement and the graduates are unfit for the job market reflects the quality of the foundation they received in secondary schools. This is a systemic problem. While most of us are products of public schools, we have long opted to send our children to private schools (and I also plead guilty here), without caring about those who cannot afford the huge costs. Of course, we

all know what a succession of governments, at all levels, have done to public schools in Nigeria. Yet, the point we must underscore is that public schools have significant social missions they fulfill in every society. The most critical is that they guarantee equal opportunity for all children regardless of their parents’ social status. In the process, they help to unify a diverse country. To secure the future, we must defend the integrity of our learning spaces. And beyond what government should do, meaningful interventions from alumni associations can make a world of difference. If anybody has a doubt about the crisis of education in Nigeria, the sight of fully suited-up young men and formally dressed young women (most of them graduates) distributing leaflets for housing estates should drive the point home. That some supposedly educated people believe they can build their life on, or find fulfilment in, distributing leaflets on major roads and street corners is telling. In recent years, my wife has been championing a free education scheme for indigent children in Abuja through her Not Forgotten Initiative (NFI) School. With that, I have seen the abysmal level to which our public schools have degenerated. And we cannot all just fold our hands. Let me identify four areas in which our public secondary schools are deficient and where alumni associations can help to redress the situation. First is in the provision of adequate infrastructure and ensuring a safe and conducive learning environment. The second is in providing essential tools that include well equipped laboratories with required technical equipment, well stocked libraries, and access to computers. In many of our public schools today, students access basic tools through their imagination, which makes it difficult to comprehend most of the theories they are being taught. NOTE: Piece concluded online

Goodnight, Herbert Wigwe

aving followed what turned out to be the most entertaining and unpredictable African Cup of Nations (AfCON) football tournament, with its twists and turns, I had a desire to watch the final live. I was therefore excited last Saturday afternoon when, in graciously granting my request, Vice President Kashim Shettima said I should be at the Abuja airport presidential wing by 1PM next day (Sunday) to join his delegation to Abidjan for the match. Unfortunately, a few hours later, news broke of the death in the United States of Herbert Wigwe along with his wife, son and others. I had to send a message to the vice president that regrettably, I would no longer travel because of the tragedy. I considered the late Herbert a friend, but it is with his parents that I have a special relationship. When in June 2022 they marked their 60th wedding anniversary, I wrote about how, since 2001, Pastor Shyngle Wigwe, a former NTA Director General, had taken me almost like a son—and always called to pray for me and my family. I cannot begin to imagine what the Wigwes have been going through since Saturday. The overwhelming suffering and intense emotional pain that parents experience after such tragic bereavement, according to ‘Compassionate Friends’, a global NGO committed to supporting grieving families, “shatters core beliefs and assumptions about the world and the expectations about how life

Late Herbert Wigwe should unfold.” My thoughts and prayers are with the Wigwes at this most difficult period. In her column, ‘Telling Chizoba’s Story’ yesterday, Ijeoma Nwogwugwu provided rare insights into the life and times of Mrs Wigwe who died alongside her husband in the helicopter crash. It is a moving and fitting tribute to a remarkable woman. Meanwhile, it was on a personal project, Wigwe University, that

Herbert had lately invested considerable time, energy and resources. When we last spoke in December, he promised to take me to see the campus located in his ancestral Ikwerre land in Rivers State. That will no longer happen. I hope there are people who will help sustain that legacy. For the WhatsApp philosophers who use the death of successful people to write and circulate drivel on the pretext that ‘life is fleeting’, ‘all is vanity’ etc., they must understand that Herbert has run his own race and is now with his maker. “Each man’s death diminishes me,” John Donne wrote in his immortal poem. “For I am involved in mankind. Therefore, send not to know for whom the bell tolls. It tolls for thee.” Herbert perfectly understood that nobody is guaranteed tomorrow. In a post on his official X (formerly Twitter) handle on 19th January, he left a fitting epitaph for the rest of us. “Today and always, let us remember that life is a precious gift – a chance to breathe, feel, love, experience and connect,” he wrote in a prescient manner common only to those who are spiritually alert. “Let’s honour this gift by living with purpose, kindness, and gratitude, making every moment count. Let us number our days.” May God comfort his loving parents, remaining children, family members and his bosom friend cum business partner, Aigboje Aig-Imoukhuede.

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