WEDNESDAY 23TH FEBRUARY 2022

Nigeria, Iraq Kick against Hike in OPEC Oil Output as Prices Surge Towards $100 Emmanuel Addeh

in Abuja with agency report Nigeria and Iraq have said the strategy employed by the Organisation

of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, to gradually raise oil production is enough to balance the market.

Both countries insisted that there

was no need for OPEC to be more aggressive, despite crude oil surge this year to almost $100 a barrel.

The 23-nation alliance, led by Saudi Arabia and Russia, would

meet on March 2 to decide the next line of action in terms of the amount of oil it expected members to pump in April.

Bloomberg quoted Nigeria’s

Minister of State for Petroleum Resources, Timipre Sylva, as maintaining that the international cartel would not need to take any unplanned barrels to the market,

stressing that the current plan perfectly serves the market as it is.

Sylva told reporters at an event Continued on page 10

PenCom Opposes Withdrawal of Police from Contributory Pension Scheme... Page 6 Wednesday 23 February, 2022 Vol 27. No 9815. Price: N250

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Buhari: FG's Rail Project Easing Commuters' Hardship on Lagos-Ibadan Route... Page 8

ECOWAS Rejects Mali's Five-year Transition Proposal

Plans recapitalisation of regional bank Military regimes an aberration in sub-region, says Jonathan

Segun James Nigeria's former President and Chair of the Economic Community of West African States (ECOWAS)

Council of the Wise (CoW), Dr. Goodluck Jonathan, has said the sub-region would not accept the five-year transition period proposed by the military government in Mali

because it is too long.

Jonathan, who is also ECOWAS Chief Mediator on the Mali crisis, said military regimes had become an aberration in the sub-region

and could no longer be tolerated.

He spoke yesterday in Lagos during a press conference at the end of a two-day strategic retreat of the ECOWAS Council of the Wise.

Jonathan stressed that the proposal for a five-year transition period for the military regime by the Malian parliament was unacceptable because the time

was not only too long, but also untenable.

The president stated, "If the Continued on page 10

Citing Emergence of Previous Chairmen, Buhari Okays Consensus for APC Convention El-Rufai denies division among colleagues Confirms they initially disagreed, but now on same page Party zones offices, adopts PDP formula, swaps positions between North and South Chairmanship goes to North-central, National Secretary South-west Iyobosa Uwugiaren, Deji Elumoye and Adedayo Akinwale in Abuja President Muhammadu Buhari, yesterday, met with governors elected on the platform of his party, the All Progressives Congress (APC), and okayed suggestions for a consensus option at the newly proposed March 26 national convention of the party.

Buhari met with the APC governors at the State House, Abuja, for about 15 minutes and discussed the current state of the party and the misgivings about its national convention. He noted that all former chairmen of APC, from Chief Bisi Akande, John OdigieOyegun, to Adams Oshiomhole, emerged through consensus.

But Kaduna State Governor, Mallam Nasir El-Rufai, dismissed insinuations that the 22 governors of APC and the Anambra State Deputy Governor were sharply Continued on page 10

PONDERING THE FUTURE OF APC...

L-R: Governors of Ekiti State, Dr. Kayode Fayemi; Nasarawa State, Abdullahi Sule; Niger state , Abubakar Sani Bello; Kwara State, Abdulraham Abdulrazaq, and Ebonyi State, David Umahi, during the meeting of the APC Governors with President Muhammadu Buhari in Abuja ... yesterday PHOTO: GODWIN OMOIGUI

At Launch of Third Force, Kwankwaso Promises Better Deal for all Nigerians... Page 45

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

FUNERAL SERVICE FOR ANGELA FOLARIN...

Senator Teslim Folarin (left) welcoming Vice President, Yemi Osinbajo, to the funeral mass of late Mrs. Angela Nwaka Folarin at the Sacred Heart Catholic Church Ilupeju Bodija, Ibadan, Oyo State... yesterday

Buhari: With 30m Tons LNG Expansion, AKK Project, Nigeria to take Centre Stage in Gas Production Emmanuel Addeh in Abuja The federal government is banking on the 30 million tons Liquefied Natural Gas (LNG) Train 7 programme as well as the five billion cubic feet (BCF) Ajaokuta-Kaduna-Kano (AKK) projects to boost its gas production, President Muhammadu Buhari said yesterday.

Speaking in Doha, Qatar, at the sixth Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government, the president declared that Nigeria would continue to invest and focus attention on natural gas exploitation in the country.

Represented at the event by the Minister of State, Petroleum Resources, Chief Timipre Sylva, Buhari noted that the enactment of the Petroleum Industry Act (PIA), would further enable Nigeria derive more value from its natural gas.

He further listed the National Gas Expansion Programme (NGEP) that provides a framework and policy

support to extend gas supply and utilisation in power generation, as one of the ways the government expects to boost gas usage in the country.

In addition, a statement by the Senior Special Adviser on Media, to Sylva, Horatius Egua, quoted Buhari as stating that the declaration of 2021-2030 as the “Decade of Gas,” would lower carbon emissions and reduce the country’s import bills.

According to him, the government was providing critical gas infrastructure such as the AKK gas pipeline to support five billion cubic feet per day of domestic gas utilisation in the near term and 5-gigawatt of power generation.

“Nigeria, a gas province with some oil, is committed to sustainable growth of natural gas exploitation and utilisation, both for domestic use and export via LNG and pipeline gas to sub-regional African countries.

“Nigeria is embarking on different initiatives, projects, and policies to enhance the performance of the

oil & gas sector. These include: Expanding our current LNG production capacity to about 30 million tons per annum at Bonny with the ongoing NLNG Train 7 project.

“The recent enactment of the PIA is an indication of our commitment to derive more value from natural gas by providing the required governance, regulatory and fiscal framework to support the growth of the industry.

“Furthermore, given the devastating impact of climate change as evident in desertification, drought, pollution in the northern, central, and coastal parts of the country, respectively, we are committed to cutting our greenhouse gas emissions towards achieving net-zero carbon emissions by 2060,” he stated.

The president noted that with natural gas projected to be the leading fossil fuel in the energy transition, the GECF, given its member countries’ vast natural gas resources and experience in

the oil and gas industry, was well positioned to provide a credible platform to promote natural gas as a sustainable fuel for an effective energy transition.

“We therefore need to continue to assess the gas and energy market dynamics both in the short, medium, and long-term timeframe with the aim of taking market opportunities and collectively addressing the challenges,” he stated.

To achieve the set objectives, he called for the need to work together as policy makers and decision makers to make modern energy sources such as natural gas available and affordable to all.

While restating Nigeria’s commitment to Conference of Parties (CoP26), the president acknowledged gas as an abundant, flexible and clean fossil fuel.

Buhari stressed that the country recognises the role of governments and the private sector in providing the necessary capital to fund clean energy technologies and projects

to support the transition to a low carbon future.

“In this context, the theme for the Doha Declaration: “Natural Gas: Shaping the Energy Future” is quite timely and fits into the global trend and quest for energy transition to be fuelled by clean and low-carbon energy fuels as well as for energy market stability,” he stated.

He explained that technology and innovation, adequate investments, and policies would be critical in providing the necessary infrastructure to exploit the natural gas resources and deploy innovative carbon reduction technologies and mechanisms towards achieving a realistic greenhouse gas emissions reduction target.

Senate Receives Constitution Review Report Today To vote on amendments March 1

Sunday Aborisade in Abuja

FG Launches Fresh Strategy to Fast-track COVID-19 Vaccination Over 64 million vaccine doses received, 24.38 million administered "the agency is currently doing doing SCALES initiative was first workers.

Onyebuchi Ezigbo in Abuja

The federal government yesterday formally unveiled a strategy to enable the country achieve its COVID-19 vaccination target.

While giving an update on the vaccination exercise, the government said the country has so far taken delivery of 64,113,760 doses of COVID-19 vaccines since vaccination began and has administered 24.8 million doses.

Speaking at the launch of the initiative, the Minister of Health, Dr. Osagie Ehanire said as at the end January 2022, the country had vaccinated 20 million of her eligible population (about 18 per cent).

He commended NPHCDA efforts to expand COVID-19 vaccination sites in the country which has helped to fast track the campaign. Ehanire said primary healthcare centres would have helped greatly in administering the COVID19 vaccine if they were readily available across the country.

He therefore solicited the assistance of development partners to redirect efforts towards establishing primary healthcare centres in the rural areas.

introduced in November 2021, by the National Primary Health Care Development Agency (NPHCDA) to rapidly ramp up COVID-19 vaccine coverage by expanding access to COVID-19 vaccines outside the health facility.

SCALES is an acronym for service delivery, communication, accountability, logistics, electronic reporting, and supportive supervision for the ongoing COVID-19 vaccination.

As part of the strategy, the agency established mass vaccination sites at all public places such as markets, parks, shopping malls, schools, mosques, and churches.

However, Ehanire said that although the SCALES strategy had proven to be quite effective in ramping up COVID-19 vaccination coverage, the proportion of fully vaccinated Nigerians was still very low, partly because we have been using two-dose vaccines.

"There is a unique opportunity to leverage the SCALES strategy using COVID-19 vaccination structures and resources to improve Routine Immunisation (RI) coverage, with improved efficiency and reduced duplication of efforts by health care

"This is to ensure that while controlling the transmission of COVID-19, Nigeria does not become a fertile ground for outbreak of childhood vaccine preventable diseases by rapidly increasing RI uptake alongside COVID-19 uptake," he said.

While unveiling the initiative, Executive Director of the NPHCDA, Dr. Faisal Shuaib said, SCALES enables one to find or locate the nearest vaccination centre where he or she would get vaccinated with COVID-19 vaccine without time wasting.

According to him, the strategy seeks to integrate COVID-19 vaccination with the routine vaccination exercise.

He said the agency also plans to vaccinate more people with one dose of Johnson and Johnson vaccine to avoid the need for them coming for second dose.

“All one simply needs to do is to log in to the vaccination site website and you will be able to find out the vaccination centre nearest to you," he said.

On the progress being made in the vaccination drive, Shuaib said:

a little over 200,000 vaccination per day, targeting 500,000 per day going forward.

The agency has also formally launched the single shot of Johnson and Johnson vaccine which it hopes will help fast-track COVID19 vaccination and to achieve the much desired immunity for the country," he said.

He said so far, there are 254,293 confirmed cases of COVID19 with 3,142 deaths in Nigeria.

According to him, the country has so far taken delivery of 64,113,760 of various types of COVID19 vaccines, adding that Nigeria was expecting additional 48, 125,800 doses in few months’ time.

According to the breakdown, 17 million had received their first dose, while the second dose have been received over seven million.

Also, 660,000 persons have received booster jabs, he said.

Speaking on the performance of states in the vaccination drive, the NPHCDA said Nasarawa was leading others with over 50 per cent vaccination followed by Jigawa state equally with 50 percent.

“The activities of the GECF Gas Research Institute in Algeria, efforts of individual GECF member countries in Research & Development (R&D) and the international Research and Development institutions at large, would need to be leveraged on for sustainable and cost-effective exploitation of the hydrocarbons.

“This will not be achieved without collaboration amongst us and building the capacity of the next generation of energy leaders,” he added.

The GECF is an international organisation which gathers leading gas producing countries to increase coordination and collaboration, among members.

The Senate Committee on the review of the 1999 Constitution has promised to submit its report today.

The Chairman of the committee, Senator Ovie Omo-Agege said this yesterday.

Omo-Agege, who is also the Deputy President of the Senate, made the announcement while presiding over plenary due to the absence of the Senate President, Ahmad Lawan.

He, however, said Lawan would give further details on the matter today.

He added that the lawmakers would take the reports home on today and return on Tuesday, March 1, to vote on the amendments.

He said members of the committee would hold a final meeting to perfect the report ahead of the submission.

Omo-Agege disclosed that copies of the report of the Constitution Review Committee would be distributed to lawmakers today.

He, therefore, appealed to Senators to study the report ahead of its consideration and ensure they are present during plenary next Tuesday to avail themselves of the opportunity to vote on it.

According to the lawmaker who also chairs the Constitution Review

Committee, for some provisions of the report to be considered and voted on, the mandatory two-thirds and four-fifth requirements of the membership of the entire Senate must be meet by the chamber.

Omo-Agege explained: “The Senate Committee on the Review of the 1999 Constitution will meet Tuesday, 22nd day of February, 2022, immediately after plenary sitting at room 221 of the Senate building Please, this meeting is very crucial.

“Tomorrow (Wednesday), the Senate President will announce that the report of the Constitution Review Committee will be laid on Wednesday tomorrow and, thereafter, we will take our vote on March 1st which will be Tuesday.

“That will give us about four to five days to review the report, consult as we deem fit and be prepared to vote. It is imperative that all of our colleagues be present on that day.

“As you know, there are certain amendments that will require the two-thirds majority of all our colleagues - the entire Senate - not two-third of those who are present, but two-thirds of the entire membership of the Senate and, indeed, there are some other provisions that would require four-fifths of the entire Senate.”

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THANK YOU VISIT TO THE VILLA...

L-R: President Muhammadu Buhari receives a presentation from the Emir of Zazzau, HRH, Ahmed Bamalli; Speaker Kaduna State House of Assembly, Rt. Hon. Yusuf Ibrahim Zailani and the State Deputy Governor, Hadiza Sabuwa PHOTO: GODWIN OMOIGUI Balarabe, during a thank you visit by the Kaduna State Government and leaders to the President in Abuja on his recent visit to the State to inaugurate a number of projects... yesterday

2021 Budget: 94.1% Implementation on Infrastructure, Human Capital Development Achieved, Says FG $3.38bn projects awaiting consensus before signing of loan agreements Issues N78bn tax credit to road investors Ndubuisi Francis, Olawale Ajimotokan and Joel Ita in Abuja The federal government yesterday disclosed that it executed 94.1 per cent of the 2021 budget in the areas of infrastructure and human capital development.

Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed disclosed this in Abuja, during a town hall meeting on the achievements of the federal government in infrastructure development organised by the Ministry of Information and Culture.

She said from the expenditure side of the capital budget, as of November 2021, N12.56 trillion or 94.1 per cent had been spent

out of the N13.57 trillion pro rata budget.

She noted that this performance was inclusive of expenditure estimates of the Governmentowned Enterprises (GoEs), but exclusive of project-tied loans.

She said infrastructure projects and programmes undertaken by the administration to create the enabling environment for socio-economic growth and development helped in placing the country on the path of growth.

Ahmed asserted that the administration has continued to prioritise spending on infrastructure and human capital to catalyse rapid economic development, adding in 2022 alone, it intends

to spend about N1.42 trillion on infrastructure and N2.11 trillion on human capital development.

She explained that in the light of constrained revenue proceeds brought about by several multidimensional factors, including the global pandemic and its impact on the domestic economy, the ministry designed various initiatives to meet the needs of the people.

She also disclosed that a total of 11 capital projects worth about $3.387 billion are currently awaiting consensus before it signs loan agreements with the World Bank, the African Development Bank (AfDB) and French Development Bank, for their execution.

Furthermore, she revealed that

the federal government had issued about N78 billion worth of tax credit to investors under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (RITCS) between 2019 and 2021.

She listed the projects awaiting consensus before the signing of loan agreements as the $673.2 million Kano Urban Light Rail Project (Phase I); construction of Lafia By-Pass road and the dualisation of 9th Mile (Enugu)-Otukpo-Makurdi Road Project ($845.75 million).

Others are the E-Border Solution ($175.5 million), the $350 million Nigeria Electrification Project (Off Grid), the $32.3 million North Core Interconnection Power Transmis-

sion Line (Regional Project under West African Power Pool) and the Nigeria Electricity Transmission and Access Project: ($486 million).

They also include the Nigeria Electrification Project ($200 million), Nigeria Transmission and Expansion Programme ($210 million), Abuja Power Feeding Transmission Scheme ($170 million), and the Northern Corridor Transmission Line ($245 million).

The minister listed some ongoing key infrastructure projects funded by external loans from the China EXIM Bank as the Zungeru Hydropower Plant Project ($984.32 million); Lagos–Ibadan Railway Project ($1.26 billion); upgrading and rehabilita-

PenCom Opposes Withdrawal of Police from Contributory Pension Scheme Exit to cost FG N1.80trn, jeopardise existing investments in securities, says Dahir-Umar James Emejo in Abuja The Director General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, yesterday said the clamour by the Nigeria Police Force to exit the Contributory Pension Scheme (CPS) was ill-advised.

She said the commission already had provisions that could address whatever grievances and challenges being faced by the police personnel and other federal government agencies on the administration of their retirement benefits.

Speaking at a public hearing on a bill for an Act to amend the Pension Reform Act, 2014, to Provide for Exemption of the Nigeria Police Force from the Contributory Pension Scheme and for Related Matters, the PenCom boss said if allowed, the exit of the police from CPS to the Defined Benefit Scheme (DBS) could further impose an additional N1.84 trillion pension liabilities on the federal government.

The hearing further considered a bill for an Act to Amend Sections 1 (c), 7 (2), 8 (1), 18, 24 and 99 of the Pension Reform Act Cap 50 LFN 2014 by providing that a pensioner shall receive at least 75 per cent of his retirement benefits immediately upon retirement and criminalise the undue delay in payment of pension.

But Dahir-Umar, told the House

of Representatives Committee on Pensions, chaired by Hon. Kabiru Alhassan Rurum, that while the primary objective of the Pension Reforms Act (PRA) 2014 was to ensure that everyone who works receives his/her retirement benefits as and when due, the proposed bills basically sought to undermine the essence of pensions and social security cover as enshrined in the 1999 (as amended) as both would ultimately deny retirees an adequate periodic income in retirement.

She stressed that the exemption of the police, if allowed, could unsettle the federal government’s fiscal policy and financial system stability adding that to date, about 63.17 per cent of the N13.4 trillion pension assets are invested in federal government securities.

As a result, she said, “Exempting the NPF would lead to material divestment from FGN securities before maturity, which would have ripple negative effects on not only the finances of government but on the entire financial system.”

She added: “We, therefore, have a collective responsibility as Nigerians to ensure that the CPS remains sustainable in order to achieve this objective.”

She, however argued that the absence of other social security benefits in the country was partly responsible for the clamour by the retirees for exemption or to access

substantial amounts as lump sum from their RSA balance.

She added that there is an imperative need for the country to institute a Zero Pillar Pensions in the form of social security benefit, which is recognised and provided for in the 1999 Constitution (as amended).

The PenCom DG further said: “If implemented, it will go a long way to alleviate the sufferings of all

Nigerians irrespective of whether or not they had a formal employment.

It will also augment earnings from occupational pensions.

“Accordingly, the Commission respectfully urges the Honourable House Committee on Pensions to disregard the Bills and, instead, seek to institute sustainable pension system and social security scheme in Nigeria.”

Essentially, the police had been

pushing for an exemption from the scheme because they are unable to access lump sums of benefits at retirement, citing the military as an institution that had exited the scheme and now access lump sums on retirement.

However, the PenCom boss said exiting the scheme was not the best option for the police as the quantum of entitlements is only a function of salary.

tion of Keffi-Akwanga—Lafia road ($460.82 million).

Also listed are the supply of rolling stock and depot equipment for Abuja Light Rail Phase 1 Project ($164.91 million); the $328million NICTIB Phase II (Galaxy Backbone); Four Airports Terminal Expansion Project Phase II ($208.91 million), as well as ancillary works on four airports terminal expansion ($183.62 million).

The minister stated that her ministry, under the International Economics Relations Department (IERD) contracts external loans on behalf of the Federal Government of Nigeria from bilateral and multilateral development partners to finance critical infrastructure.

She explained: "It is important to note that these loans are contracted within the framework of the 2020-2023 Medium-Term Debt Management Strategy (MTDS).

The MTDS provides a guide to the borrowing activities of government in the medium-term, usually four (4) years.

"The MTDS has been prepared by the Debt Management Office (DMO), in collaboration with relevant stakeholders (Federal Ministry of Finance, Budget and National Planning, Central Bank of Nigeria, Budget Office of the Federation, National Bureau of Statistics and the Office of the Accountant-General of the Federation)."

Nigeria Adds 300MMscfd After Inauguration of Gas Gathering Facility in Delta State Emmanuel Addeh in Abuja As part of effort to expand gas usage in the country, the federal government through the Nigerian Content Development Board (NCDMB) and the private sector, yesterday added about 300 million standard cubic feet per day (MMscfd) of gas to its national supply base.

The parties concerned are Nedogas Development Company Limited (NDCL), a joint venture company between Xenergi Limited and the NCDMB in collaboration with the Nigerian Gas Company Limited (NGC), a subsidiary of the Nigerian National Petroleum Company (NNPC).

A statement by the NCDMB noted that the group successfully completed the construction and technical commissioning of the 300 MMscfd capacity Kwale Gas Gathering (KGG) and injection facility located in Umusam community, near Kwale in Delta State, Niger-Delta, Nigeria.

The KGG facility, it said, was designed to handle stranded gas resources in Nigeria’s Oil Mining Licence (OML) 56 oil province by providing the opportunity for independent operators in the area to monetise natural gas from their fields.

It noted that this would be done through the gas gathering, compression, injection and metering

infrastructure of the KGG for quick access to the market.

The KGG hub, which has been tied-in to the NGC-owned and operated 48-inch OB-3 gas trunk line, the NCDMB stated, was now fully commissioned with an initial gas injection capacity of 25 MMscfd from the plant located 3 kilometres away in Energia’s Ebendo field.

Stressing that the injected gas volumes were being gradually ramped up, NCDMB stated that the project represents a significant milestone in Nigeria’s decade of gas as well as a major achievement in the quest to provide gas into the OB3 trunk line and monetise natural gas resources from the OML 56 producer cluster.

“With the successful injection of gas from the Energia-operated Ebendo field into the OB3, the KGG facility is now poised to receive additional gas from nearby fields including those operated by First Hydrocarbon Nigeria (FHN), Pillar Oil, Chorus Energy and Midwestern Oil & Gas, all aimed at positioning KGG as a fully-fledged gas-gathering facility and hub with single point injection of up to 300 MMscfd of gas into the OB3 via the KGG tie-in,” it stated.

The Managing Director of NDCL, Mr. Debo Fagbami, in his comments, explained that with the completion of the KGG facility, the proof-of-concept to readily monetise gas has now been established.

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PROTOTYPE AND RESEARCH EXPOSITION AT THE DIGITAL ECONOMY...

L-R: Head of Operations, Association of Licensed Telecommunications Operators of Nigeria (ALTON), Mr. Awonuga Gbolahan; Regional Manager North Central Region, Bank of Industry, Dr. Kings Jack; Executive Vice Chairman/ CEO, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta; Minister of Communications and Digital Economy, Isa Ali Ibrahim; Chairman NCC Board, Prof. Adeolu Akande; Executive Commissioner Technical Services, Engr. Ubale Maska, and Head Research and Development, Mr. Kelechi Nwankwo, during the Prototype and Research Exposition at the Digital Economy Complex Mbora, Abuja... recently

FG-ASUU Negotiation, Reconciliation Meeting to Reconvene Monday Onyebuchi Ezigbo in Abuja The federal government has fixed another round of reconciliatory meeting with the striking lecturers for Monday next week.

Minister of Labour and Employment Senator Chris Ngige who spoke to journalists on the outcome of the meeting with the Academic Staff Union of Universities (ASUU) in his office in Abuja yesterday, said both sides resolved to address some great areas in the agreement.

He said officials of the Ministry Labour would be meeting the Minister of Finance and the Accountant General of the Federation to iron out outstanding issues on the implementation of the agreement with ASUU. On when the talks would reconvene Ngige said: "Well, we wanted to reconvene on Thursday but they said that one of their trustees, Prof.

Lasisi Asobie was bereaved. He lost the wife, so they said they were going there Thursday and Friday. I am hopeful that we can reconvene next Monday."

Meanwhile, Ngige has assured that the government would do all it could to end the ongoing industrial action by ASUU. He said the government was taken aback by the renewed strike, which started on February 14, 2022.

According to him, the federal government was surprised ASUU acted against the understanding and assurances it gave through the Nigerian Inter-Religious Council (NIREC) led by the Sultan of Sokoto, Alhaji Sa’ad Abubakar and the Chairman of the Christian Association of Nigeria, Rev. Supo Ayokunle.

Ngige, who was in Botswana for the African Regional Labour Administrative Centre(ARLAC) meeting when ASUU declared the strike, pointed out that he believed that the union and education ministry would have resolved the disputes within days.

“I sincerely thought ASUU and the Ministry of Education would have resolved the issues, which

hopefully are not major areas of dispute, warranting industrial action.

To my surprise, I came back, and the strike is still on.

“Be that as it may, it is the mandate of my ministry to apprehend industrial disputes wherever they occur, and we have apprehended this," explained the labour minister.

"From this negotiation we are having today (Tuesday), ASUU will appreciate that the government means no harm. This is because even if there are still lapses in the implementation of the agreement, they are not such that will lead to industrial action. To that extent, we have to do everything possible to resolve this."

Ngige assured that the ongoing conciliation would prepare the ground for an expanded meeting that will involve NIREC. “It is my mandate to apprehend industrial disputes, and this has been apprehended so we can discuss, and later expand to what is called tripartite plus meeting, involving members of NIREC who are top religious and traditional rulers, we cannot push aside," he stressed. "And that is as soon as we are done and agree on issues here."

The minister expressed optimism that the strike would be called off soon to enable students to return to classes.

“It should not be one-month

strike. In fact, there is nothing like a one-month strike or warning strike in labour parlance. Strike is strike.

We want this to end as soon as possible, as we sort out all grey areas in the agreement as to the ILO Principles At Work allows for renegotiation of the Collective Bargaining Agreement," he noted.

The minister urged the government, "to be realistic and factual,” as far as this negotiation goes, admitting that, "I wear a double cap, first as a conciliator and then, a minister of the government of the federation."

"We must keep to the timelines," he further stated.

Ngige further debunked claims

by ASUU that all the items in the

The Office of Head of Service of the Federation has released the result of written examination for vacant federal permanent secretary positions in the federal civil service.

The result released yesterday showed that 50 per cent of the candidates scored less than 50 per cent in the written test.

The written examination for eligible candidates on Grade Level 17 was conducted on February 21.

The exercise was to fill vacancies

the agreement are being religiously implemented," including but not limited to the payment of Earned Academic Allowances through the office of the Accountant General of the Federation between November and December 2021.”

Speaking at the meeting, ASUU President, Prof. Emmanuel Osodeke, blamed the government for the strike, alleging that apart from not implementing the 2020 MOA, the government also failed to convene the regular implementation monitoring meeting as agreed. He insisted that calling off the industrial action depended entirely on the government's meeting ASUU's demands.

Buhari: FG's Rail Project Easing Commuters' Hardship on Lagos-Ibadan Route Deji Elumoye in Abuja President Muhammadu Buhari has explained that the decision by his administration to prioritise infrastructure projects ameliorated hardship in some parts of the country.

He particularly mentioned his administration’s quick intervention on the Lagos-Ibadan route with the completion of road and rail lines, which he said improved the traffic significantly.

Speaking yesterday, while playing host to a delegation from Kaduna State, led by the Emir of Zazzau, Alhaji Ahmed Nuhu Bamalli, and Kaduna State Deputy Governor, Hadiza Sabuwa Balaraba at the State House, Abuja, the president said, “my objective was very clear, despite the dwindling resources, I wanted to deal with infrastructure across the country.

“We should look at advancement in terms of Infrastructure. No country can advance without infrastructure. There used to be railways, especially people from Southern Kaduna will remember this.”

“Which country can really

advance without road, rail and power, that’s why I wanted to sort out infrastructure, knowing that Nigerians are competitive by nature, and they will face their businesses when there’s road, rail and power,’’ he added.

According to him, the challenge of commuting in the south-west had been improved.

He said: “The people from

south-west can tell better because between Lagos and Ibadan by now, if we hadn’t done what we did, people would have been trekking because the road was not there, the rail was not there and there was so much insecurity.

“But we thank the international community. We thank China and Chinese investors, who came along to support the Lagos-Ibadan

of retired Solicitor General of the Federation/Permanent Secretary Ministry of Justice and Permanent Secretaries retiring in 2022, from Akwa Ibom, Bauchi, Benue, Cross River, Jigawa, Plateau, Sokoto and Taraba states. Substantive directors that would not retire from service earlier than December 31, 2023, participated in the exercise.

A circular issued yesterday by the Office of the Head of Service and signed by Mrs. Idowu O. Olusola on behalf of the Examination Committee, showed

transport projects,’’ he said.

Buhari assured that the construction and rehabilitation of infrastructure would be sustained.

These he listed to include the AbujaKaduna-Kano express road, being handled by Julius Berger to ensure good, long-term quality.

He commended the Governor of Kaduna State, Nasir el-Rufai, for transforming the state.

Earlier in her remarks, the Deputy Governor thanked the president for his working visit to the state, where he commissioned projects in Kaduna, Kafanchan and Zaria.

She said the Urban Renewal Programme would be sustained and spread across the state for more impact on the lives of the people, with many already near completion, and will be ready by May, 2022.

Nigeria, Others May Suffer over 70% Oil Revenue Crash by 2035, Ex-NLNG Boss Warns Says use of firewood, charcoal, fossil fuel will remain dominant in African energy mix

Peter Uzoho

The immediate-past Managing Director of the Nigeria Liquefied Natural Gas (NLNG) Limited, Mr. Tony Attach has warned that Nigeria and other oil producing African countries might witness over 70 per cent crash in their oil revenues when the current energy transition accelerates by 2035.

Attah also warned that the reduction in oil demand and the

shrinkage of funding for oil and gas development projects portends high risks for Nigeria and its sister Africa oil nations, adding however, that fossil fuel, firewood and charcoal would remain dominant in the African energy mix The former NLNG boss gave the warning yesterday in Lagos, in his presentation at the ongoing Sub-Saharan African International Petroleum Exhibition and Conference (SAIPEC) 2022.

‘50% of Candidates Failed Exams for Permanent Secretary Position’ Olawale Ajimotokan in Abuja

2020 MOA have not been fully implemented, stating that the ones not completed were in progress.

"I did a correspondence on the report by NITDA on UTAS to you (ASUU) in December 2021, and you sent your observation in a reply in February 2022. I made that available to all the parties involved that this is the observation from ASUU. So, as far as I’m concerned, it is a work in progress," he argued.

"I’m not the minister of education.

My ministry is not your direct employer. But I take these proactive measures to fast-track agreements and ensure we meet the timelines."

He further mentioned that apart from that, "all the issues in

the outcome of the exercise.

In the circular- HCSF/PS/ CMO/154/1/70 - dated February 22, 2022, indicated that the highest score in the exam was 74 per cent while the least score was 26 per cent.

The total number of candidates that sat for the examination was 74 while the total number of those that scored less than 50 per cent was 37.

The candidates’ identities were not indicated as only their examination numbers and scores

were reflected on the circular.

According to the circular, only the candidates that scored above 50 per cent would be eligible for the ICT Proficiency test, which is the one before the final stage of the selection exercise today at the National Intelligence Agency, Abuja.

The selection process is made up written examination, ICT Proficiency Test in Microsoft Word; Excel and PowerPoint and the final stage, which is interactive session with a broad-based panel of experts and practitioners.

He said the predicted massive fall in Nigeria's oil revenue was based on the forecast that global oil demand could fall to 30 million barrels per day by 2035, below the current 100 million barrels per day oil demand.

He added that in the accelerated energy transition scenario, about 70 per cent of African oil production could become uncompetitive by 2040.

He maintained that in the accelerated scenario, no new oil field might be developed due to inability of companies to secure funds needed to finance oil field development projects, saying over 40 per cent of new projects might be at risks of not being delivered.

Attah said, "The global shift away from fossil fuel by the Western world will lead to a massive reduction in the availability of fund as some key players have already put a stake in the ground not to fund any oil and gas development projects, as seen in the recent announcement by the World Bank and some major funders around the world.

"In the accelerated transition case, it is forecasted that global oil demand could fall at about 30 million barrels per day compared

to the current 100 million barrels per day by 2035.

"And most African producers' revenue will dwindle by over 70 per cent in the accelerated scenario. Can you imagine Nigeria not earning 70 per cent from oil today?

"In this scenario also, about 70 per cent of African production will become uncompetitive by 2040, with next to no new field development across other countries, over left-behind production decline rates due to inability to finance and develop new oil and gas projects.

Over 40 per cent of new projects essentially, will be at risks of not being delivered in the accelerated scenario."

Attah warned that the reduction in oil demand and the massive shrinkage of funding for oil and gas development projects portended high risks for Nigeria and its sister Africa oil nations This, he pointed out, would exacerbate the existential challenges for countries like Nigeria, Libya and Angola, whose economies depend largely on hydrocarbon for survival, especially if they are not quick to work out the details of alternative sources of funding.

WEDNESDAY FEBRUARY 23 2022 • T H I S D AY

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TEN CITING EMERGENCE OF PREVIOUS CHAIRMEN, BUHARI OKAYS CONSENSUS FOR APC CONVENTION divided over the date of the national convention, saying they merely disagreed. El-Rufai, who spoke with newsmen after the APC governors’ meeting with Buhari, however, noted that the governors had disagreed over the timing of the national convention, as some were of the belief that there were many unresolved issues. But he contended that they were all now on the same page.

El-Rufai said APC had adopted a formula, which was embraced by the leadership of the main opposition Peoples Democratic Party (PDP) during its convention.

Under the plan, APC would allow its northern and southern members swap positions from the ones held by the previous National Working Committee (NWC).

Judging by the copy of the zoning formula obtained by THISDAY last night, APC had resolved to have its national chairman come from the North-central, while conceding the office of National Secretary to the South-west.

Despite its recent challenges, Chairman of Northern States Governors’ Forum and Plateau State Governor, Simon Lalong, allayed concerns that the ruling party might collapse after Buhari’s tenure. Lalong believed APC would be stronger after the incumbent president.

El-Rufai, who was fielding

questions from State House correspondents, said the governors had disagreed over the timing of the convention, because, “There were some governors that felt we should put off the convention until we resolve all the congress issues in some states.

"As you know, in some states, these matters are even in court. So, some governors held the view that we should wait until all these are resolved. And this is not borne out of any agenda or selfishness. It is just a realistic proposition to avoid us violating any laws or putting our party structures of elected candidates in danger.

"Yes, there were differences in opinions about timing. Some of us are saying the constitution allows us to have convention even if three or four states have issues that are unresolved, while others are saying no, let us finish all the reconciliations and we do this convention. After all, there is no time limit for the convention as long as we do it before the time for the primaries.

"So, that was the difference.

This is what the media has called divided governors. In a democratic setting, there is no way you can have 22 governors plus the deputy governor of Anambra State agreeing on any issue.

“We can have differences. But after our meeting of last night, to deliberate on the proposal by the

national caretaker committee, and our briefing with Mr. President today, we are all on the same page."

The Kaduna State governor also disclosed that APC had agreed on a zoning formula that would swap offices previously held between North and South.

By the arrangement, all offices that were occupied by northerners in the last NWC will go to the South, and vice versa, in the coming dispensation.

El-Rufai affirmed that agreement had been reached on zoning.

He stated, "We have agreed on a zoning formula for all the six geopolitical zones. Essentially, northern zone will have the positions the south has had in the last NWC, and vice versa.

"It is a very simple, equitable, and fair formula. We will now go back and consult at the zonal level and look at the positions that are available and the process of the convention preparation we started in earnest. So, by the grace of God, on the 26th of March, we would have done our national convention."

Speaking also after their meeting with Buhari, Chairman of the Progressive Governors Forum and Kebbi State Governor, Atiku Bagudu, revealed that Buhari was in favour of consensus in selecting candidates for party offices.

Bagudu said, "On consensus, Mr. President reminded us that

we have produced a number of national chairmen by consensus: Baba Akande emerged as the pioneer chairman of the party by consensus; His Excellency, John Oyegun emerged by consensus; His Excellency, Adams Oshiomhole emerged by consensus.

"So, he is a believer in consensus as one of the options for producing leadership, and he urged us to explore consensus, so that we can generate a list. While recognising that many people who have indicated interest are equally competent, but knowing that just one person will occupy the office, consensus is part of our constitution, and he urged us to work towards consensus.

"And the governors, I have said earlier, have also been working to ensure that as part of equitable arrangement, zoning and consensus are incorporated. We have done that at the lower levels, and even at the national level; it’s almost certain that we will achieve it.

"Then, the date of the convention, the caretaker committee briefed us yesterday on their meeting and the proposed March 26, 2022. And today, the governors informed Mr. President that we have heard the briefing from the caretaker committee and we are supportive of their position."

Bagudu explained that even though the planned zonal congresses

ECOWAS REJECTS MALI'S FIVE-YEAR TRANSITION PROPOSAL parliament approves that, I don’t believe ECOWAS will accept it. I cannot say authoritatively because I am not the chair of the Authority of ECOWAS, but because I am the mediator, we feel that five years is too long for a transitional government. In 2012, when we had a similar experience in Mali, it was one and a half years within which elections were done, when the former speaker of parliament became the interim president.

"And within one and a half years elections were done. Niger, of course, that was 2011, when I was still head of state, when the military intervention happened, it was within 12 months, elections were conducted. We had a similar case in Burkina Faso within that period; within 12 months elections were conducted.

“We believe that ECOWAS does not want any coup d’état in the sub-region anyway. But assuming it happens, we believe that the period they will hold office should not be so long.

“In this February, they have spent about one and a half years already. Adding another five years is six and a half years. ECOWAS Authority of Heads of State will

discuss it, but I believe ECOWAS may not accept it.

“We are going to negotiate it further with them and see that they reduce it because five years plus one and a half years, that is six and a half years, it is almost two tenures of an elected government. And I think for a transitional government it does not really add up.”

Jonathan said as part of a strategy to quicken the development of the region, ECOWAS was considering recapitalisation of its regional bank.

He stated, "We also looked at some other things, like we have recommended that the ECOWAS Bank of Investment and Development should be capitalised properly and restructured so that it will play a key role in terms of assisting people in the private sector to build small and medium scale industries across the sub-region.

“That will increase the opportunity of young people getting loans to develop businesses and also create jobs for others. So we looked at other things, but basically none of these will bring immediate answer to a situation

in a place like Mali. Already, the military are there and they want to stay for another five years. So that should be through negotiation, which the council of the wise will work with the commission, we will work with the Authority of Heads of State and Government to get that done."

He added, "So when you now raise the issue of Mali parliament that have approved the five-year term transition, the parliament of Mali is a part of the government of Mali that is in operation. They are not elected members of the parliament and that is why ECOWAS parliament won't even accept them to meet with the ECOWAS parliament.

Because for you to be a member of the ECOWAS parliament you must be elected by your people.”

He said even though the CoW was constituted by the ECOWAS Commission as an important preventive, diplomatic, and mediation organ of the ECOWAS Peace and Security Architecture, it was not set up to immediately intervene in the security challenges facing the region.

Jonathan said, "I want the people to know that the purpose

of the council of the wise is not to immediately intervene in the security challenges we have. We have three countries being run by the military, which is an aberration in the sub-region.

"But the main reason for the council of the wise is to come up with different ways that we should be doing things to reduce such infraction in our democratic setting. So that is the first.

“We will also make suggestions, but the council of the wise is mainly persuasive. It is like an organ of ECOWAS that will come up with advisory programmes and policies that will help the commission and, indeed, the Authority of Heads of State and Government to handle some of these issues.”

Jonathan said his council recommended for the region free and compulsory education for all children from primary to secondary school level as part of efforts to ensure that young people were no longer easily recruited into evil agenda.

Jonathan said the issue of bad leaders whose actions and inactions lead to crisis in their countries was also being looked into.

NIGERIA, IRAQ KICK AGAINST HIKE IN OPEC OIL OUTPUT AS PRICES SURGE TOWARDS $100 in Doha, Qatar, according to Bloomberg, “We won’t do anything extraordinary at this time because we are expecting a lot of production from outside of OPEC+.”

He added, “There’s no need at all to bring on more barrels than the current plan. We are expecting more production if a nuclear deal with Iran works out (since) there will be production from them.”

Several of OPEC+’s biggest producers want to continue to add 400,000 barrels a day of crude to the market each month, Bloomberg reported.

In addition, Iraq’s Ihsan Jabbar said OPEC and its partners would make their decision for April at the March meeting, after reviewing fresh data on supply and demand.

The comments came even as Brent crude rose 2.3 per cent to $97.60 a barrel, extending this year’s jump to 26 per cent.

Tuesday’s gain occurred after Russian President Vladimir Putin announced he was recognising two self-proclaimed separatist republics in Ukraine.

Iraq’s energy minister, Jabbar, said OPEC was factoring in growth in output from non-OPEC+ members, such as Brazil and Canada, and did not want to see any increase in commercially-stored oil around the world.

“The market will have more

and more oil so we think there’s no need” to deviate from today’s strategy, Jabbar said in an interview in Qatar, where he was attending a natural gas conference, together with Sylva and others.

“We will not create any growth to the commercial storage. We will secure all the demand by making the required supply,” he added.

Russia, a major oil and gas producer, plans to send “peacekeeping forces” to the Ukrainian region in a dramatic escalation of the on-going conflict. Moscow has consistently denied having plans to invade Ukraine.

Some major oil importers have called on OPEC+ to pump faster and put pressure on the likes of Saudi Arabia to use up some of their spare capacity.

Jabbar said it would be “unfair” for any OPEC+ state to raise output beyond its quota, despite many members struggling to reach theirs.

Nigeria has been struggling to meet its OPEC allocation for months and has as much as 300,000 barrels per day deficit, mainly due to ageing upstream infrastructure and sabotage as well as technical reasons.

Despite the over 1.7 million barrels’ output allowed by the organisation, the country has managed to increase production to about 1.4 million, going by the

latest OPEC review.

Although there are issues surrounding the sustainability of the current upward trend of the country’s supply to the global market, it is seen as a good sign for the nation’s oil and gas industry.

Last week, the International Agency Energy Agency (IEA), which advises rich countries, said OPEC+ was pumping almost one million barrels a day below its target.

“We have come from the recovery from COVID,” the Iraqi minister said.

“It is not fair that you will give the increase just for some countries,” he added.

Iraq undershot its output target last month because of bad weather at ports, Jabbar said. The country should meet its quota for February of around 4.3 million barrels a day, he noted.

Meanwhile, the Chief Executive of Vitol, one of the world’s biggest oil traders, expects oil prices to climb to $100 and remain at that level for an extended period of time.

This bullish prediction, he said, was driven by a belief that global demand would surge in the second half of the year and could surpass 100 million barrels per day.

On the supply side, he said it was the fear of shrinking spare production capacity and restraint from US shale that was driving

oil prices higher. Oil prices will go higher, and they would stay there for an extended period of time, said the chief executive of Vitol, Russell Hardy.

“The 100 million-barrel number is probably going to be exceeded this year,” Hardy told Bloomberg, adding, “Demand is going to surge in the second half.”

According to him, demand for crude this year could surpass 100 million barrels daily.

Like many others, Vitol’s chief executive noted that the imbalance in global oil markets was fuelling inflation and threatening to interfere with the recovery of the global economy from the fallout of the pandemic.

However, more oil does not seem to be coming, as the US and European super majors are focusing on shareholder returns instead of production growth, and national oil companies in the OPEC+ countries are sticking to their original plan of adding 400,000 bpd to total production every month.

“Eventually we’re going to run out of spare capacity. That’s what the market is trying to work out,” Hardy noted.

Major Wall Street banks, including Goldman Sachs, Bank of America, JP Morgan, and Morgan Stanley, had already recently predicted that prices would hit $100 a barrel.

of APC were not provided for in its constitution, the law was also not against the process.

According to him, "On proposed zonal congresses not in the constitution, I think there has been so much debate. Yesterday (Monday), there was a statement to the effect that even the letter that has gone out was withdrawn.

"So, zonal congresses are not explicitly stated in the constitution, particularly, how you do zonal congresses. And we have in the past done them with national convention, but nothing again in the constitution stops them from being done outside the national convention. But the final form will be decided, given the input we have provided."

Asked if the APC governors were divided, Bagudu retorted, "Are governors divided? Not at all! The 22 governors of the APC are united. We are in total support of Mr. President; we are appreciative of his leadership. We commend him for his leadership.

“We are appreciative of the sacrifice of the national caretaker, and extraordinary convention planning committee. And we thank them for the successes recorded under them. Our party, like I said, is greater and stronger, with more members by the day."

On his part, Lalong maintained that the ruling party would not collapse after Buhari's exit, saying, "I think that from the progress report read by our chairman, and from several assumptions, and also several reports that we are seeing what tremendous efforts the federal government is doing.

We are already going around commissioning projects here and there in all the various states.

"There is no doubt, although, you are not specific as to which reason will make us not to come back again, but as far as we are concerned, based on assessment, and based on what the federal government is doing, there is every hope that this party, this government will move beyond our president and that is what he has been saying, that by the grace of God, this government will move beyond his tenure."

Nineteen of the 22 APC governors were in attendance at the meeting held at the Council Chambers, which also had in attendance Vice President Yemi Osinbajo; Secretary to the Government of the Federation (SGF), Boss Mustapha; and Chief of Staff to the President, Professor Ibrahim Gambari.

The governors in attendance were those of Yobe, Ekiti, Ebonyi, Jigawa, Cross River, Kaduna, Lagos, Borno, Niger, Gombe, Osun, Kebbi, Nasarawa, Kwara, Kano, Imo, Kogi, Ogun, Plateau and Anambra’s deputy governor.

Zoning Formula

According to the zoning formula obtained yesterday by THISDAY, APC has zoned its chairmanship position to North-central, which implies that the presidential ticket of the party might go to the south, in addition to the office of the National Secretary, which has been given to the South-west in specific.

Other positions zoned to the North-central are National Vice Chairman (NC), Deputy National Secretary, Deputy National Legal Adviser, Deputy National Publicity Secretary, Zonal Secretary, Zonal Youth Leader, Zonal Organising Secretary, Zonal Women Leader and Zonal Special (Persons with Disability- PWD) Leader.

APC zoned the following positions to the South-south: National Vice Chairman (SS), National Publicity Secretary, National Women Leader, Deputy National Treasurer, Deputy National Welfare Secretary, Zonal Secretary, Zonal Youth Leader, Zonal Organising Secretary, Zonal Women Leader, and Zonal Special (Persons with Disability- PWD) Leader The offices zoned to the South-west are National Secretary, National Vice Chairman (SouthWest), National Youth Leader, Deputy National Auditor, Zonal Secretary, Zonal Youth Leader, Zonal Organising Secretary, Zonal Women Leader, Zonal Special (Persons with Disability- PWD) Leader.

For the North-west, the positions given are National Vice Chairman

APC EXTRAORDINARY NATIONAL CONVENTION 2022 ZONING OF NATIONAL OFFICES SOUTH-SOUTH: (Akwa Ibom, Bayelsa, Cross River, Delta, Edo and Rivers States) 1. National Vice Chairman (SS) 2. National Publicity Secretary 3. National Women Leader 4. Deputy National Treasurer 5. Deputy National Welfare Secretary 6. Zonal Secretary 7. Zonal Youth Leader 8. Zonal Organizing Secretary 9. Zonal Women Leader 10. Zonal Special (Persons with Disability- PWD) Leader SOUTH-WEST: (Ekiti, Lagos, Ogun, Ondo, Osun & Oyo States) 1.

2.

3.

4.

5.

6.

7.

8.

9.

National Secretary National Vice Chairman (South-West) National Youth Leader Deputy National Auditor Zonal Secretary Zonal Youth Leader Zonal Organizing Secretary Zonal Women Leader Zonal Special (Persons with Disability- PWD) Leader

SOUTH-EAST: (Abia, Anambra, Ebonyi, Enugu & Imo States) 1. Deputy National Chairman (S) 2. National Vice Chairman (SE) 3. National Treasurer 4. National Welfare Secretary 5. Deputy National Organizing Secretary 6. Zonal Secretary 7. Zonal Youth Leader 8. Zonal Organizing Secretary 9. Zonal Women Leader 10. Zonal Special (Persons with Disability- PWD) Leader NORTH-EAST: (Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe States) 1. Deputy National Chairman (N) 2. National Auditor 3. National Vice Chairman (NW) 4. Deputy National Financial Secretary 5. Deputy National Women Leader 6. Zonal Secretary 7. Zonal Youth Leader 8. Zonal Organizing Secretary 9. Zonal Women Leader 10. Zonal Special (Persons with Disability- PWD) Leader NORTH-CENTRAL: (Benue, Kogi, Kwara, Nasarawa, Niger, and Plateau States) 1. National Chairman 2. National Vice Chairman (NC) 3. Deputy National Secretary 4. Deputy National Legal Adviser 5. Deputy National Publicity Secretary 6. Zonal Secretary 7. Zonal Youth Leader 8. Zonal Organizing Secretary 9. Zonal Women Leader 10. Zonal Special (Persons with Disability- PWD) Leader NORTH-WEST: (Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto and Zamfara States) 1. National Vice Chairman (NW) 2. National Legal Adviser 3. National Organizing Secretary 4. National Financial Secretary 5. Deputy National Youth Leader 6. Zonal Secretary 7. Zonal Youth Leader 8. Zonal Organizing Secretary 9. Zonal Women Leader 10. Zonal Special (Persons with Disability - PWD) Leader (NW), National Legal Adviser, National Organising Secretary, National Financial Secretary, Deputy National Youth Leader, Zonal Secretary, Zonal Youth Leader, Zonal Organising Secretary, zonal Women Leader, and Zonal Special (Persons with Disability - PWD) Leader, among others.

The party zoned the position of the Deputy National Chairman (S) to the South-east, with other offices like National Treasurer, National Welfare Secretary, Deputy National Organising Secretary, Zonal Secretary, Zonal Youth Leader, Zonal Organising Secretary, Zonal Women Leader, and Zonal Special (Persons with Disability- PWD) Leader.

North-east would produce Deputy National Chairman (N), National Auditor, National Vice Chairman (NW), Deputy National Financial Secretary, Deputy National Women Leader, Zonal Secretary, Zonal Youth Leader, among others.

Interestingly, the zoning plan has tactically knocked out a former governor of Zamfara State, Continued on page 45

WEDNESDAY FEBRUARY 23 2022 • T H I S D AY

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WEDNESDAY FEBRUARY 23, 2022 ˾ T H I S D AY

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NEWS

Again, Lawmakers Urge FG to Declare State of Emergency on Security Udora Orizu in Abuja The House of Representatives has again called on the federal government to as a matter of urgency declare a state of emergency on security.

The lawmakers had on April 27, 2021 called on Buhari to declare a state of emergency, following the growing spate of attacks and kidnappings across the country.

Worried by the increasing activities of non-state actors in fueling the growing insecurity in the Anambra State, the House has renewed its call on the government to take drastic action in curtailing the security challenges bedeviling the country.

The House specifically, urged the National Security Adviser (NSA), Inspector General Police, Director General State Security, Army, Navy and other security to form a joint taskforce to restore security in Anambra State especially Anambra South bordering Imo State.

The resolutions followed the adoption of a motion of urgent national importance, sponsored by, Hon. Chris Azubogu.

Moving the motion, Azubogu

lamented that non-state actors, mostly criminals have taken over part of Anambra state and have been killing innocent citizens and creating fear that well-meaning

citizens including traditional rulers and responsible citizens have deserted their home towns.

He recalled that a week ago gunmen operated in Aguata

LGA of Anambra State killing at least four persons one of their victims being an official of the Anambra State Traffic Management Agency (ASTMA)

directing traffic at the everbusy Ekwulobia roundabout.

While saying that he thought that the security situation in the state would be better after

the last governorship election, the lawmaker appealed to the federal government to help restore normalcy to the state.

BETKING FOURTH ANNIVERSARY...

L-R: Chief Financial Officer, Betking, Mr. Dapo Olasope; Head, Customer Experience, Mrs. Ijeoma Okeke; Chairman, Mr.Toyin Pinheiro; Managing Director, Mr. Gossy Ukanwoke, and Head, People Category, Leila Abu, at the media presentation to mark fourth anniversary of Betking in Lagos… yesterday ETOP UKUT

Amaechi, Abe’s LoyalistsTrade Electoral Bill: Buhari, APC Plotting Blame over Rivers APC Crisis toTruncate Democracy, Says PDP

Blessing Ibunge inPort Harcourt

The crisis rocking the All Progressives Congress (APC) in Rivers State has been heightened by the resumed war between supporters of the Minister of Transportation, Mr. Chibuike Amaechi and former Senator Magnus Abe. The APC members loyal to Amaechi accused Abe of conniving with the Rivers State’s Chairman of the Peoples Democratic Party (PDP), Mr. Desmond Akawor.

THISDAY learned that some of

the party members from Ward 7 in Asari-Toru Local Government Area of the state and Ward 4 in Opobo/Nkoro LGA held press conference in Abuja, accusing Abe of working with PDP to ensure that the APC is delisted from the 2023 ballot sheet.

But in a swift reaction yesterday, the Leader of APC in Opobo/ Nkoro and supporter of Abe, Dr. Bethel Oko-Jaja, said that the press conference that was led by one Mr. Kelvin Okechukwu, was untrue and masterminded by people who do not want members of the party to reunite.

Chuks OkochainAbuja The Peoples Democratic Party (PDP), yesterday, accused President Muhammadu Buhari and the All Progressives Congress (APC)-led federal government of plans to truncate the nation’s democracy.

According to PDP, the failure to sign the electoral bill into law had the capacity to derail the electoral system, truncate the nation’s democracy, subvert the

corporate existence and turn the nation into another ‘axis of concern’ to the world.

Alerting Nigerians at a world press conference on a one-item agenda, which was the reworked Electoral Bill at the national secretariat of the party, National Publicity Secretary of PDP, Debo Ologunagba, said the refusal by President Buhari to assent to the Electoral Act Amendment Bill re-transmitted to him since

Monday, January 31, 2022 by the National Assembly was a clear danger to democracy in Nigeria He said this was after the legislature had acceded to and incorporated all his requests in the newly transmitted version of the Electoral Act Amendment Bill.

According to the PDP, “The refusal to sign the Electoral Act Amendment Bill is nothing short of a premediated and contrived “political abortion” of the will

of the people as represented by the elected 109 Senators and 360 members of the House of Representatives, who unanimously passed the Amendment Bill in the first instance.

“The current stance of Mr. President further validates our Party’s position that the Buhariled APC government is averse to free, fair, transparent and credible elections in our country, particularly, the 2023 general election.”

Civil Societies Condemn Petition against Police Sergeant Dies in Ogun Aregbesola, Decry Rising Insecurity in Osun Ex-Governor’s Residence James Sowole in Abeokuta

A police sergeant, Adeleke Ogunsola, who was hit by the driver of a former Governor of Ogun State, Gbenga Daniel on Saturday, while opening the gate of the ex-governor’s Asoludero residence, has died in Sagamu.

Ogunsola was said to be one of the police officers posted to guard residence of Daniel.

It was gathered that the policeman was hit by the vehicle being driven by the Daniel’s driver, when the gate bounced back.

The policeman, was thereafter

rushed to a hospital, where he The Osun Civil Societies Coalition was said to have eventually died. (OCSC) yesterday dissociated The accident, was said to be itself from a petition written by causing anger in police circle, some individuals against the as some expressed displeasure Minister of Interior, Ogbeni Rauf that the late sergeant was turned Aregbesola under the platform to gatekeeper instead of the job of ‘Civil Society Coalition in he was posted to do in Daniel’s Osun State.’ house.

According OCSC, the said It was learnt that each of the policemen posted to the residence collect N2,500 allowance weekly.

The Ogun State Police Public Chuks Okocha in Abuja Relations Officer, Abimbola Oyeyemi, confirmed the incident, The PDP yesterday mocked saying, however, that it was an the ruling party saying that accident. the continuous inability of the All Progressives Congress (APC) to conduct a national convention explains why all sectors of the country National Security Adviser, serves “have been in shamble as the institutional mechanism under the incompetent, for policy guidance, research and corrupt, rudderless and monitoring of all aspects of Small Arms and Light Weapons (SALW) in Nigeria.

The agency, established in Okon Bassey in Uyo May, 2021, replaced the defunct Presidential Committee on Small Akwa Ibom State Governor, Arms and Light Weapons as part Mr. Udom Emmanuel, has of the restructuring of Nigeria’s sacked his Chief of Staff(CoS) security architecture to address Akparawa Ephraim Inyangemerging threats and strengthen eyen with immediate effect.

Inyang-eyen, until his the regional mechanism for the as CoS, control, prevention and regulation appointment of SALW in the country. had served as the State

Small Arms Control Centre to Establish Zonal Headquarters in Enugu National Centre for the Control of Small Arms and Light Weapons (NCCSALW) has notified Governor Ifeanyi Ugwuanyi of Enugu State of its decision to establish Zonal Headquarters in Enugu.

The National Coordinator of NCCSALW, Major General Abba Dikko (Rtd), disclosed the decision when he led a delegation of the agency to the Government House, Enugu, on an official visit to Gov. Ugwuanyi.

The NCCSALW, which is domiciled in the Office of the

Yinka Kolawole in Osogbo

petition was politically motivated, declaring that the rising rate of thuggery is a dangerous trend that is already posing threat to people’s lives and property in the state.

The Chairman, OCSC, Comrade Waheed Lawal and Vice Chairman Comrade Wole Folaranmi who addressing a press conference yesterday

at Odiolowo, Osogbo, said there was no sincerity in the petition which they noted was sponsored by some political elements.

For instance, Lawal warned the individuals against impersonating and using OCSC for political interest, stating that the organisations with which the individuals wrote petition against

Aregbesola are not members of the coalition in Osun.

“We suspect that the action of the petitioners was politically motivated for pecuniary gains.

And the said individuals were hurriedly put together by political elements who needed the service of available corruptible civil society groups to drive their selfish interest.”

PDP Mocks APC for Postponing National Convention Again overtly confused APC administration.”

The PDP in a statement by its National Publicity Secretary, Debo Ologunagba said the APC’s postponement of its national Convention yet again validated PDP’s stance that the APC was a special purpose vehicle (SPV) of strange bed fellows, “political buccaneers and ferocious

power mongers on a mission to wreck our nation.”

The PDP stated that the APC which cannot conduct its own internal affairs could not be expected to successfully manage the affairs of a nation like Nigeria, adding that, “the APC is a perfect example of failure both as a party and government unable to conduct a simple national convention

in two years.

“It has become a Russian Roulette with unending request for extension of time to undertake a routine statutory political activity.”

According to the PDP, “our party is not surprised that the APC, a party of backstabbers, again postponed its national convention already scheduled for February 26, 2022.”

A’Ibom Governor Sacks His Chief of Staff Commissioner for Works under recently made public his which the governor reportedly the governor’s administration.

The removed CoS was also seen as kitchen cabinet member in Governor Emmanuel’s government until the latest development.

Inyang-eyen, a once strongest supporter and mobilizer for the governor

interest to contest the 2023 senatorial election under Eket Senatorial District of the State.

The People’s Democratic Party (PDP) elders in the Eket senatorial district had zoned the Senate position to another constituency outside his Eket Federal Constituency

supported the zoning.

A statement by the Secretary to the State Government, Dr Emmanuel Ekuwem yesterday said the removal of the CoS from office was not unconnected to his inability to work in tandem with set goals of the present administration.

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COMMENT

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

MIGRATING MDAS TO COUNTRY CODE The new policy is welcome, writes Sonny Aragba-Akpore

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he federal government last week released a policy directing all Ministries, Departments and Agencies, (MDAs) to migrate all their websites and electronic mails (e-mails) addresses to the Country Code Top-level Domain (ccTLD) names.

What this means is that instead of running government businesses with generic emails addresses like yahoo.com, Hotmail, Gmail, among others, all government workers and officers should deploy their emails and websites on the country code dot.ng.

The government policy is coming in after nearly 18 years of Nigeria joining the global regulator for domain names, the Internet Corporation for Assigned Names and Numbers (ICANN).

The country joined ICANN about 18 years ago via the Nigeria Internet Registration Association (NIRA) under the auspices of the Nigerian Information Technology Development Agency (NITDA).

Founded on March 23, 2005, as a stakeholder-led organization, NIRA was charged with the management of Nigeria’s Country Code Top Level Domain Name (ccTLD), dot.ng.

Coordinated by NITDA, the transfer of this important national resource on behalf of the federal government arose out of the country’s internet community.

Officials of NIRA said the advent of NIRA brought to an end the long years of controversy over.ng. It was President Olusegun Obasanjo’s intervention that ended this controversy.

The advent of NIRA in 2005 brought to an end over 12 years vacuum during which period the .ng was hosted first in Italy and later by an American Randy Bush, who was the technical contact for the .ng while Mrs Ibukun Odusote held office as the administrative contact.

NIRA’s constitution was adopted on March 28, 2006, and Dr. Isaac Odeyemi was elected as chairman of the Board of Trustees (BOT). The late Mr. Ndukwe Kalu was the pioneer head of the executive 10 – man board by May 1, 2007.

NIRA did not handle registration names directly but through registrars and registries and this was indeed a major bottleneck for the growth of ccTLD in Nigeria. So all the processes of registrations for.com.ng, .edu.ng .name.ng, .gov.ng, among others were slow because registrations took very long routes to get registered.

This is a possible reason while only 184,341 users registered in 17 years NIRA’s existence as of December 2021.The figure represents 0.000504353 of the world’s 365.5million registered and functional ccTLD. Nigeria has over 200 million population and over a 100million internet users.

Despite renewed efforts to encourage migration in the last 17 years, apathy by public and civil servants informed the lull in keying into the ccTLD names. Instead, many officials stayed glued to their generic names like yahoo, gmail. Hotmail, and

THE DOMAIN NAMES SYSTEM ENABLES USERS TO EASILY FIND THEIR WAYS ON THE INTERNET THROUGH EVERY COMPUTER’S UNIQUE NAME CALLED INTERNET PROTOCOL ADDRESS. THE DNS THROUGH THE IP IS EASY TO REMEMBER HENCE THEIR FLEXIBILITY IN USAGE

others.

Strangely too, the multibillion-naira businesses in Nigeria, the country’s government service, banks, commercial activities have a very low online presence compared to other African countries.

For instance, South Africa with a population of 60.4 has 1.25m active registrations on its .za, Kenya’s 53.7million population has 93,446 registered.ke.

Perhaps Nigerians preference and addiction for foreign products may have informed the lowly adoption of .ng by business and government institutions and workers.

To register a dot.com address users pay a paltry =N=2,000 while dot.ng goes for as much as =N=11,000 and the premium websites go for as high as N1million.

That is why, the new policy for compliance to the ccTLD is a welcome development and now that it has been backed by government, it is clearly a welcome idea worth pursuing.

When Communications and Digital Economy Minister, Dr Isa Pantami addressed the media last week after the Federal Executive Council (FEC) meeting in Abuja he said the government decided to release the policy and ordered all public institutions to obtain the second level domain from NITDA and migrate to the platform with immediate effect. The minister’s memo to FEC was clear on the direction to follow: “the use of private email like yahoo. Com, gmail.com Hotmail for official communications by government officials would no longer be tolerated” The policy has been approved and it focuses more in mandating federal public institutions, MDAs, as long as they are government institutions to migrate from their generic addresses to the top-level domain.

The Domain Names System (DNS) enables users to easily find their ways on the internet through every computer’s unique name called Internet Protocol (IP) address. The DNS through the IP is easy to remember hence their flexibility in usage.

ICANN is responsible for the allocation of IP addresses and all ccTLD names. It coordinates the technical elements in conjunctions with various countries’ registrars and as a private, public partnership, ICANN is dedicated to preserving the operational stability of the internet, promoting competition, and achieving broad representation of global internet communities, developing policy appropriate to its mission through bottom-up consensus-based processes.

ICANN as a not-for-profit international organization with responsibility for internet protocol addresses grew out of a role performed by the United States (USA) government contract by the Internet Assigned Numbers Authority (IANA). ICANN performs IANA’s roles now and this new government policy will boost Nigeria’s membership of the global body.

Aragba-Akpore is a member of THISDAY Editorial Board

WHY NANS SHOULD APOLOGISE TO NGIGE Isma’il Auta writes that the Labour minister is doing his best to restore normalcy to the universities

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hatever made the National Association of Nigerian Students(NANS) blame the Minister of Labour and Employment, Senator Chris Ngige for the ongoing strike by the Academic Staff Union of Universities (ASUU) is steeped in error. It is either the students lacked information or were disinformed on the essentials of different roles assigned to all parties in the series of social dialogue, between their teachers and the federal government. From the tone of their threatening press release, one cannot also rule out exuberance, spurred by scanty information. Whatever be the case, no Nigerian conversant with the efforts put in by the Minister of Labour and Employment towards the restoration of normalcy in the university academic calendar, in deed the resolution of cascading industrial crisis, occasioned by the drop in national earnings since 2015, won’t doff the hat for the former Anambra State Governor. Since assuming office as the competent authority and chief conciliator of labour disputes in the country, Ngige has used his wealth of experience as former civil servant, governor and legislator to dispense a unique labour administration, marked by openness and forthrightness, with the resultant relative quiet in the nation’s productivity milieu. The crisis in the higher education and health sector is intriguing as it is overwhelming, but as a statesman with an in-depth knowledge of the intricacies in the age-long challenges in the two most vexed sector, Ngige has helped the Buhari administration achieve a considerable calm

in the tripartite community.

In deed, it is not as if other internal publics of the university system like the students are oblivious of the commitment of the Labour minister to the return of glory days to the ivory towers. For instance, the leadership of ASUU then under Prof. Biodun Ogunyemi had in one of the negotiations on September 18, 2017 described Ngige as the “only public officer in recent time who came out to say something was wrong on the side of government and showed honest commitment to redress it.” Similarly, the leader of Joint Action Council (JAC) comprising non-academic staff members in SSANU, NASU and NAAT in September 2020 negotiation, Peter Adeyemi said of Ngige, “some of us have known you long ago before you became minister and we know what you can do. It is not only the President who employed you that should be commending you, even those of us that you are working for, we have to commend you too.” SSANU was later to separately give Ngige an award as an excellent Labour minister in 2020.

Conciliating the university disputes is such that spots Ngige in an inverse situation.

Will he side the federal government whose appointee he is or the teachers of his three children and numerous beneficiaries of his education foundation in various public universities? At the heat of the strike in 2020, his children Raphael, Azuka and Andrew were all in the medical colleges of COOUTH, Awka, UNILAG and UNIABUJA. Like the children of the poor, Ngige’s children also bear the brunt of strikes by lecturers and like

every parent, Ngige feels the heat. Therefore, the usual accusation that ‘big’ government officials are nonchalant because their kids are either studying abroad or in private schools does not arise.

Ngige has so distinguished himself all through the negotiations, demonstrating that a public officer can be trusted. But Ngige cannot do it alone. He is only one of the 43 ministers! Here then is a case of misplaced disillusionment by the students. I recall as an editor of an online medium during one of the negotiations in 2017, when Ngige in establishing the difference between the Buhari administration and the preceding ones, asked the ASUU leaders, “is there any promise I made here that I did not fulfil?” and silence took over the hall. Ngige then went ahead to add, “if under the previous administrations, unions went as far as negotiating with President and still came out unfulfilled, I assure you that as cabinet ministers in this administration, we negotiate and get results.” And Ngige has been getting results.

Dear students, solving the problem in the universities cannot start and end in Ngige’s Ministry alone. He is only a conciliator of disputes between workers and their employers be they government or private.

The longer part of the stick in this matter lies majorly with the Ministry of Education who is the employer of the university workers as well as Finance Ministry, Budget Office and the Accountant General of the Federation who deal with the budgeted money. Ngige plays his part excellently.

But how has Ngige been taking on this

huge challenge? First is that he adopted measures that earned him the confidence of university workers and ensure the success of negotiations. Key is openness, a no-holds-bare atmosphere under which parties ventilate in all issues in line with social dialogue principles of the ILO. From the beginning also, Ngige demonstrated to ASUU that he negotiates with firm authority of the federal government but with a caveat that the state of the economy would guide negotiations since ability to pay is a cardinal ILO principle in collective bargaining.

Ngige was quoted in the press in 2016 as telling labour unions, “I bring to the table, the intent of government as well as her manifest capacity to meet up obligations.

My intention is to lead you into the true position of the finances of government and allow such reflect on the request you bring to negotiation.”

That’s how he was able to influence ASUU to scale down the N1.3trn 2009 agreement with government of President Jonathan, a period of boom, which he later re-negotiated in 2013, promising to pay N220bn in six tranches but ended up paying only N200bn in 2014. After weeks of sleepless nights in 2017, Ngige succeeded in renegotiating the agreement with the release of N20bn for revitalization and N28b for Earned Allowances to all unions in the universities, making ASUU call off the strike on 18 September, 2017. N25b was also released twice in 2018 while the Tertiary Education Trust Fund (TETF) maintained its funding obligation to the universities.

Auta, a journalist, writes from Abuja

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EDITORIAL NDDC AND THE ANTI-GRAFT HOAX The federal government is complicit in the failure of the NDDC to realise its mandate

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he Niger Delta Development Commission (NDDC) has become a prime metaphor for the stranglehold of corruption on our public sector. What was conceived as a regional intervention agency has since degenerated into a cesspool of countless monumental scams. Thousands of contracts have been expended with little or no work done to justify the hundreds of billions of Naira in payments. Successive boards and managements of the agency have been mired in scandals. Politicians have taken turns in converting the agency’s resources into a slush fund for elections, politicking and private aggrandisement.

Over the years, the NDDC has become ‘a cash cow for the government in power where party loyalists and top officials (in the executive, legislature and judiciary) feed fat on the misery of Niger Delta people. That explains why many stakeholders believe that the THE FULL DETAILS OF recent summon FINDINGS BY THE FORENSIC of the NDDC AUDIT NEED TO BE MADE management by the PUBLIC QUICKLY. ALSO, Senate Committee on Public Accounts THE PRESIDENCY WHICH ORDERED THE AUDIT NEEDS may be just another attempt at window TO ACT ON THE FINDINGS dressing. While

BY REFERRING CASES OF there is absolutely INDICTMENT TO THE EFCC nothing wrong with OR THE JUDICIARY FOR the parliament PROSECUTION oversighting activities of public institutions and officials, our experience has been a rehash of endless probes and public hearings that lead to no concrete outcomes.

The rot within the NDDC precedes the current administration but the disrepute into which the commission has fallen in the last seven years is a sad commentary on the avowed commitment of President Muhammadu Buhari to fight corruption as a cardinal undertaking.

Investigations into successive NDDC administrations as encapsulated in the recent presidential forensic audit have

Letters to the Editor

remained unattended to. Despite the agitations of critical stakeholders, the commission also remains without a substantive board. The minister of Niger Delta, Godswill Akpabio prefers to treat affairs of the NDDC more like a private estate by saddling the commission with cronies.

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

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

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

WITCHCRAFT AND ANIMAL CRUELTY IN AFRICA

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he Advocacy for Alleged Witches (AfAW) condemns the torture, ill-treatment of animals in the name of witchcraft across Nigeria and beyond. As in the case of humans, cruelty to animals linked to witchcraft has largely been ignored and condoned. The belief that witches turn into animals to inflict harm on other human beings and their estate is pervasive in Africa. These animals include cats, dogs, bats, owls, etc. In many societies, black cats and owls are often associated with witchcraft. Due to this superstitious notion, these animals have become endangered species. People attack, torture, and kill them wherever and whenever they are seen in the communities.

Their presence evokes panic, occult fears, and anxieties.

Their presence trigger suspicions of witchcraft and magical harm. People assume that some witchcraft attack is imminent. To thwart such an attack, these witch-animals are killed. They are treated without compassion.

On February 21, 2022, somebody posted a video on Facebook showing an owl that was caught in Enugu State The post says: “Somewhere in Igbo-Eze South Enugu State an owl which witchcrafts (sic) used to parade was caught red-handed, the owl looked at the people that caught it and shaked (sic) its head, already know that it’s finished. One down. Villagers awaiting (sic) something to happen to someone around”.

The person who made this post and others who commented believed that this owl was not like any other

he recent concern by the relevant Senate and House oversight committees over alleged multibillion Naira scams are only updates on a long-standing public concern on the health of an agency established to address a strategic national problem. From every indication, the Buhari administration seems to have surrendered to the overwhelming rot in the NDDC. But the Nigerian public cannot look away while humongous amounts of money disappear into the sinkhole of private greed and corporate insensitivity and irresponsibility. Something needs to give.

First, the full details of findings by the forensic audit need to be made public quickly. Also, the presidency which ordered the audit needs to act on the findings by referring cases of indictment to the EFCC or the judiciary for prosecution. There is also an urgent need to rescue the NDDC from the present suffocating vice grip of Akpabio by constituting the board in line with the statutes establishing the commission. That should be the starting point of any attempt to redress the wrongs at the commission.

The 2020 theatrics in the House of Representatives-the ‘off the mic’ and the sudden ‘fainting’ incident at the peak of revelations over scandalous NDDC contracts are still fresh. Therefore, no matter how much buck the federal government tries to pass, it remains complicit in the failure of the NDDC to realise its mandate.

Since taking over the supervision of the agency, Akpabio has assumed a larger-than-life posture and appears not to be in a hurry to allow a properly constituted management in place. He has not only appointed and sacked members of the management board in contravention of the extant act establishing the NDDC. We cannot continue to progress in error with an interim management board that is alien to the law and clearly panders to the whims of the minister rather than the collective well-being of the Niger Delta region.

nocturnal bird of prey that is found worldwide. The belief is that this owl was an animal form of a witch usually an elderly woman somewhere in the community that was out to harm or suck blood.

They believe that now the owl has been caught, the planned witchcraft has been scuttled and the alleged witch would eventually die. According to the post, the owl looked at the people who caught it and shook its head.

That means it was unhappy that the witchcraft scheme has failed, or has been foiled. The post concludes that “Villagers are awaiting something to happen to someone around”. That means the villagers are waiting for the alleged witch whose evil scheme had been aborted to suddenly die.

It is unfortunate that this superstition persists across Africa and has been weaponized to endanger the lives of humans and other animals. Socioeconomic stress, caused by the Covid-19 pandemic, abuse of power, lack of social welfare, and mismanagement of the economy, has occult fears and suspicions of witchcraft. Birds such as owls are often scapegoated and suspected to be witches trying to cause harm in the communities.

AfAW urges the public to desist from attacking and killing animals in the name of witchcraft. The notion that human beings can turn into animals has no basis in reason, science, and reality. Like alleged witch-humans, animals linked to witchcraft are innocent.

Leo Igwe, nskepticleo@yahoo.com

GBOYEGA NASIR ISIAKA AT 60

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ne of the most historical events prominently etched in the annals of Imeko, Ogun State was the recent burial ceremony of the late Iya Adinni of Imekoland, Alhaja Kuburat Agbeke Isiaka, matriarch of the Isiaka dynasty and mother of frontline chieftain of the All Progressives Congress (APC) Prince Gboyega Nasir Isiaka.

The event remains a memorable one till date — partly due to the fine array of guests in attendance, headlined by the cerebral Professor Yemi Osinbajo, Nigeria’s Vice President. It was former United States’ Secretary of State, Henry Clay who noted that “Of all the properties which belong to honorable men, not one is so highly prized as that of character.” Character is not commonplace in the Nigerian political arena where deceit, greed, malfeasance, thievery and impunity hold sway. Isiaka has managed to stay above the greed and corruption that has plagued our politics. This is why despite contesting three governorship elections between 2011 and 2019, he has not been involved in any scandal till date.

Failed public inquests into his activities as managing director of Gateway Holdings Limited by previous administrations underscore his unmatched integrity and accountability. GNI has continued to bestride the sociopolitical landscape of Ogun State with sheer class, humility, benign mien, superior native intelligence and unrivalled integrity —even for a politician.

He is not only the pride of the Ogun West senatorial district, but a foremost son of the state. He made an entry into politics not to be something but to do something, not to get what he could, but to give all that he could, not to seek power over principle, but to seek power for principle. The APC Chieftain remains devoted to the principle of excellence, wherein his leadership and vision have come to define his tenure as Chairman, Ogun Guangdong Free Trade Zone —much to the admiration of many true sons and daughters of Yewa/Aworiland.

As he clocked 60, I have only prayers for him, wishing him many happy returns, with the hopes of seeing him in greater leadership positions.

Femi Peters, Abeokuta, Ogun State

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MIDWEEKPOLITICS Re: How Ganduje Became an Outsider

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY GOVERNANCE IN PHOTOS

Sidiq Shehu Bala insists that Governor Abdullahi Ganduje of Kano State is in firm control of the state’s chapter of the All Progressives Congress

Ganduje

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came across an article with the above title which appeared on the back page of THISDAY Newspaper written by its Political Editor, Nseobong Okon-Ekong. In it, the author, probably due to lack of precise information, made a warped presentation of the political development in Kano State to the extent of making an impression that the machinery of the ruling All Progressive Congress (APC) in the state has slipped out of the hands of Governor Abdullahi Umar Ganduje.

I believe that it is an unfair judgement to arrive at such a conclusion without making the necessary investigation. I believe the Political Editor relied on the raging war in the media to draw his insinuation.

Let me stress here that the current intraleadership tussle in the APC in Kano is nothing but part of democratic experience that happens in any other party, especially when general elections are approaching.

It is also part of the dynamism of democratic experiment which guarantees freedom of association. However, it is the experience of any party leadership that determines how such a problem is ultimately solved.

One is, however, glad that the writer made a very fine submission that Governor Ganduje has vast experience in public service, having ventured into politics in the Second Republic. As a two-term deputy governor and now serving out his second and last tenure in office as governor, the writer sums it up that “he (Ganduje) has mastered the intrigues of Kano politics from being an insider for so long”.

The APC machinery could, therefore, not have slipped out of His Excellency’s hands ,because he had already mastered the intrigues of Kano politics, as testified by the writer, himself.

And that was why the governor, while addressing party stakeholders recently declared that his commitment to serving the state, coupled with political dexterity and experience “will never allow a small party crisis to divert our attention in further developing our dear state, Kano’’.

Since assuming office in 2015, Ganduje has pursued an all-inclusive policy of running the government and the party in Kano State. Beginning from the party leadership he inherited to the appointment of members of the State Executive Council and key appointments into various positions, the governor has all along been fair to all.

As the writer attempted to suggest, there has been no “jostle for the control of the party talk less of unilateral allotting of positions for the 2023 national elections without consulting other stakeholders in the party”.

What actually happened was that the party, like any other state chapter, conducted the ward, local government and state congresses in accordance with the party’s constitution, which was also monitored by officials from the national headquarters of the APC. In the process, all party stakeholders were reached out to and involved in the process that included members of the National and State Assemblies, local government chairmen and others, unless may be some few members who opted not to be part of it for their selfish interests.

Therefore, if some members chose not to be part of the process, it does not mean that they are in control. By forming a group to challenge the party leader, who happens to be the governor, as in any other APC state in the federation, the few discontented within its fold, felt that by factionalizing the party, they can cause disaffection. And that was what the governor has been managing with his political sagacity and dexterity.

Apart from other party stakeholders, one Senator, 20 members of the National Assembly, Speaker and 28 members of the Kano State House of Assembly and all the chairmen of the 44 local government councils are solidly behind the governor on this matter. That is why I do not understand how the governor can not be in control.

Even though there has been a lingering legal battle with the group at the Court of Appeal, which I would not like to venture into for fear of committing contempt, the writer, for the fact that he has not done his homework well, was erroneously referring to the case as being filed at the Supreme Court.

As a man of peace who believes in the unity and progress of the APC, and despite his position as the party’s leader, Governor Ganduje accepted reconciliation efforts by the party with an open mind, right from the beginning. In fact, during the first attempt by the party’s leadership to broker peace through the Senator Abdullahi Adamu-led reconciliation committee, he made it clear that he welcomes any move to ensure the unity of the party.

At the meeting, various issues were tabled and discussed and the resolutions were made known to the public at a press briefing. Members of the group refused to make themselves available at the briefing.

No problem is too big to be solved, particularly party politics in which there is no permanent friend, no permanent enemies but permanent interests. All members of the group had the support of the governor to become what they are today. In fact, the leader of the group known as G-7, Senator Ibrahim Shekarau, was brought

by Ganduje from self-confinement and other contestants were convinced to withdraw to enable him to contest for the Senate ticket. I do not think any of them has the guts to claim credit for the governor’s gubernatorial ticket in the 2019 election.

It is also not appropriate for the writer to draw the governor’s family into the party’s affairs. The comments made by the governor’s wife the writer was referring to, were never intended to declare the commissioner mentioned as gubernatorial candidate. After all, Governor Ganduje had made it clear that the decision on who becomes what in the party in the 2023 elections remains with the party. At this point, the party has not taken any decision on who will succeed Ganduje.

It was also Ganduje’s disposition as a man of peace that recently took him to the residence of the former governor of Kano state, Senator Rabi’u Musa Kwankwaso, to condole with him over the death of his brother.

Worthy of note also, is the recent development that the APC National headquarters has reaffirmed that as leader of the party in the state, Governor Ganduje should head the National/ State Joint Supervision Committee charged with the responsibility of reconciling members of the party in the state.

Suffice to say, further, that the Governor,as an astute administrator and elder statesman, has been preaching and promoting peace and unity among all stakeholders of the party in the state and beyond.

And as the party’s leader in the state, His Excellency has also been accommodating all the party’s stakeholders, including those whom might not agree with him.

L-R: Director, Infrastructure Planning and Development Department, Ministry of Education, Lagos State, Mrs. Adedokun Enitan; Director, Administration and Human Resources, Lagos State Ministry of Education, Mrs. Oluranti Fadipe; Special Adviser on Education to the Lagos State Governor,Mr. Wahhab Tokunbo, at the media briefing on the Education and Review of performance and better way to improve service delivery held in Alausa, Lagos recently PHOTO: ETOP UKUTT

Minister, Niger Delta Affairs, Senator Godswill Akpabio (left), exchanging pleasantries, with the Publisher, THISDAY Newspapers, Prince Nduka Obaigbena, during a condolence visit to the Sultan of Sokoto, Muhammadu Sa’ad Abubakar, over the death of one of his kingmakers, Magaji Dirin Sokoto, Hazzan Danbaba

L-R: Ekiti State Governor, Dr Kayode Fayemi; his wife, Erelu Bisi Fayemi; and Deputy Governor, Otunba Bisi Egbeyemi; at the thanksgiving mass marking the Governor’s 57th birthday at the Government House Chapel, Ado-Ekiti

-Bala can be reached at sadsb@gmail.com NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

A cross section of All Progressive Congress members welcoming Governor Gboyega Oyetola of Osun State to Ejigbo Town, during the governor’s engagement tour of Ede Federal Constituency, tagged: ‘I Have You in Mind Always.’

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2023 CAMPAIGN WATCH SAMUEL AJAYI

E-mail: yemielegance@gmail.com

Mobile: 08033083367

President Muhammadu Buhari (right) and Pastor Tunde Bakare

As Consultations Continue, It’s Endorsements Galore

While many are keeping their cards close to their chests, many presidential hopefuls are continuing with their consultations and meetings to garner support for their ambitions. While many are doing these consultations on their own, some are also doing it by proxy. In fact, THISDAY checks reveal that some presidential aspirants, have some high level canvassers that could not be publicly linked to them.

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eyond this, however, some elder statesmen are also putting it upon themselves to move round the country and liase with fellow elder statesmen to possibly give direction for 2023. It must be noted that never in the history of the country have we had this high number of people coming out to signify their interest to contest for the highest office in the land. And it cuts across regions, religions and ethnic backgrounds.

Perhaps, that is why some senior citizens might be trying to constitute themselves into an unofficial ‘screening committee’ to see who to probably endorse. While it might be too early to say what the motives of these elders are, it is also trite to say that while they are not really indicating public support for any particular aspirant, many of them are also not neutral.

IS TINUBU ACTUALLY SERIOUS ABOUT FIGHTING DIRTY? In continuation of his consultations for the 2023 presidential bout, a former Lagos State governor and National Leader of the ruling All Progressives Congress (APC), Senator Bola Tinubu, was at the palace of the Alaafin of Oyo, Oba Lamidi Adeyemi.

And after paying the traditional homage, the one fondly referred to as ‘Asiwaju’ (leader) by his teeming supporters and associates, first took on the younger Nigerians and admitted that one of them would become President some day. But he added a caveat: “That would be after I have done my own.”

His supporters, who crammed into the venue of the meeting with the monarch, cheered.

But the astute politician was not done yet.

He explained that the Southwest already had the Vice-President (Osinbajo), Works Minister

Buhari (right) and Kogi State Governor, Yahaya Bello (Fashola) and Interior (Aregbesola). After mentioning Aregbesola, who rudely tore into him recently over the Osun governorship seat, his supporters hailed him again.

And then the real hit: The former governor said, he was ready to fight dirty to achieve his ambition of becoming the

president of the country. This sent shock waves across the country as many felt such remarks smacked of desperation on the part of the highly experienced politician. In fact, many felt he might be ready to crush anything or anyone that stands between him and picking of the ticket of his party and the presidential

contest proper.

However, as expected, Tinubu has come out to say he was quoted out of context. His media minder, Tunde Rahman, said what the aspirant said was a metaphor using the pig as an illustration that “if you decide to wrestle with the pig, you must be ready to get dirty.” He explained that the newspaper

T H I S D AY ˾ WEDNESDAY, FEBRUARY 23, 2022

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2023 CAMPAIGN WATCH

Staying Close With 2023 IS TUNDE BAKARE STILL ‘NUMBER 16’?

On Thursday January 19th, 2022, the founder of the Citadel Global Community Church, Pastor Tunde Bakare, held a special session at the state of the art new edifice of the church located at Oregun Road, Lagos.

There, he unveiled what he called ‘Project 16’. This project simply means that he would be the 16th President of country and that he would succeed President Muhammadu Buhari in 2023.

During the service, the highly cerebral pastor traced the history of the vision he had, which convinced him that God actually meant it that he would be the one to succeed Buhari. But some have criticised the man of God for reducing real and high level politicking to simple ‘God says’. Perhaps, that is from those who do not know the underground moves and consultations being made by the lawyer-turned-pastor.

In the last six months, he had held series of meetings with President Buhari and has also been consulting with other stakeholders.

Beyond this, Pastor Bakare, has made so many critical national interventions that are not public knowledge. As a policy, he does not talk of these interventions.

Even at that, he is also aware that you cannot become president without the support of the core North or by making political interventions.

“You need the North if you want to achieve anything politically in this country. they have the numbers and the last time I checked, democracy is a game of numbers,” he once said in an interview with THISDAY late last year. However, none of his aides is giving anything away concerning his strategy. One of them, when probed by THISDAY, said “work is going on”.

Asiwaju Bola Tinubu (left) and Oba Lamidi, Alaafin of Oyo

Former President Olusegun Obasanjo (second right); former Ekiti State Governor Ayo Fayose (left); Prof. Ango Abdullahi and Ashir Shariff

(not THISDAY) was being mischievous with the report.

He, however, recast what the aspirant said while addressing the revered monarch: “Kabiesi, all I have come for is to beg you to continue to pray for me, the entire Yoruba race and the country. I am out to become the President of the Federal Republic of Nigeria and there is a wise saying that, if you want to wrestle with the pig, be ready to get dirty and deal with the poo-poo. (Therefore) I am ready to get dirty. No intimidation, no blackmail, no sort of insult will get me angry to the extent that I will say no more; I don’t want again.”

While the clarifications suffice, fact still remains that both neutrals and his opponents are free to interpret what Tinubu said to the point that he would deploy whatever he has, both fair and unfair, to win the context. However it is, the determination of the aspirant iscommendable.

WHEN PROFESSOR ANGO ABDULLAHI CAME CALLING Earlier last week, a former Vice-Chancellor of the Ahmadu Bello University, Zaria, and

the Convener of the Northern Elders Forum, Prof. Ango Abdullahi, came to the Otta, Ogun State home of former President Olusegun Obasanjo, to, according to the two elder statesmen, deliberate on issues bordering on Nigeria’s wellbeing, and also strategise on the success and possible outcome of the 2023 general election.

After the meeting, a statement by Obasanjo’s Special Assistant on Media, Kehinde Akinyemi, quoted Abdullahi as saying, “We must strategise for the good of Nigeria.” The statement further quoted Abdullahi to have said the country needed good tidings from the 2023 elections, hence the need to strategise, during the meeting with Obasanjo in Abeokuta, Tuesday evening.

Abdullahi did not come alone. He was in company with the Chairman of the Board of Trustees, Coalition of Northern Groups, Nastura Ashir Shariff, as well as the group’s Director of Action and Mobilisation, Aminu Adam. The fiery former university don, who has not been tempered and humbled by age, said they

were on the same page with the former president on issues discussed during the meeting that lasted two hours.

He explained that in spite of their ages, they could still contribute to the society and the country and that was why his “coming to see him”. He then added: “I don’t want to stay away from him for so many months or years without seeing him, especially, at this period.

So, I’m visiting him to say hello and get a briefing from him on how I feel about the nation. We also briefed him on how we feel about the nation. We compare some notes and we agreed on some grounds.

“We have been having challenges and we have been talking on this. You are in the media and you know what we have been saying about the situation in the country. Things are not good and as we head for 2023, we hope to be strategising for the good of the nation.”

It is not clear where the ‘strategy’ of Professor Abdullahi will lead to, but suffice it to say they are not likely to be neutral.

WILL AGE WORK FOR YAHYA BELLO? Apart from the former governor of Lagos State, Senator Bola Ahmed Tinubu, another politician, who has been making noise about succeeding Buhari come next year, is the current governor of Kogi State, Yahya Bello. And he has a very good foot soldier in a former Aviation Minister, Femi Fani-Kayode. He has been gallivanting round the country, telling anyone, who cares to listen that his man would defeat anyone that comes his way. In the same vein, while he had not been criss-crossing the length and breadth of the country consulting and selling his candidature like other aspirants, his supporters have also been harping on the fact that he is young (still under 50) and energetic. Hence, he has the grit and strength to run the affairs of the country.

Now, Bello’s ambition got a major boost earlier in the week when a group of professionals from the South-south by name, South-South Youth Network, threw its weight behind Bello in his bid to become the next President of the country. Dr. Owen Stephen, leader of the group, said Bello has the requisite skill to preside over affairs of the country at the national level.

In the same vein, another group, this time of serving lawmakers, called Forum of Members of State Houses of Assembly in the South-South on the platform of the ruling APC, has also queued behind Bello.

The lawmakers said it would only be fair if the presidency is zoned to the North Central zone, where Bello comes from.

It could not be ascertained if this endorsementss had the blessing of the governors from the states in the zone going by the near total control governors have over the states Houses of Assembly. But, for now, Bello can enjoy such weighty endorsements.

Beyond this, however, the race to Aso Rock is more than age or legislative endorsement even if many are of the opinion that a younger person should succeed Buhari. In fact, even some gerontocrats are pushing for a younger candidate across the two parties. If that is the only criterion, Yahya Bello has a lot going for him. If there is any selling point, it is the report of his stewardship in Kogi State in the last seven years. And many of his opponents, and even neutrals, will wager that it does not make the best reading.

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WEDNESDAY FEBRUARY 23, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, FEBRUARY 23, 2022

25

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

F E B R U A R Y

S & P INDEX

2 2 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

4%

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

6%

1-DAY

–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.41%

Petroleum Marketing Companies’ Revenue Rises by 47 Per Cent

Kayode Tokede On the heels of increasing prices of Premium Motor Spirit (PMS) and other related products, a total of four listed Petroleum marketing companies on the Nigerian Exchange Limited (NGX) generated an increase of 47 per cent in revenue in 2021.

These four companies, according to THISDAY investigations are Conoil Plc, Eterna Plc, Juli Plc, Totalenergies Marketing Nigeria Plc and MRS Oil Nigeria Plc. The companies reported a total of N622.79 billion in 2021 unaudited result and accounts for full year

ended December 31, 2021 as against N423.8 billion reported in prior full year result.

A breakdown revealed that MRS Oil Nigeria reported the highest revenue followed by Totalenergies Marketing Nigeria.

While MRS Oil Nigeria’s revenue grew by 71.44 per cent to N71.98billion in 2021 from N71.45billion generated in 2020, Totalenergies Marketing Nigeria generated N341.2billion revenue, an increase of about 67 per cent from N204.72billion reported in 2020.

In addition, Eterna Plc reported N82.6billion in revenue in 2020,

an increase of 39 per cent from N59.3 billion reported in 2020, while Conoil generated N126.7 billion as revenue in 2021 from N117.47 billion reported in 2020.

Further investigations revealed that these companies revenue growth was driven by sales in PMS also known as petrol and Automotive Gas Oil (AGO) popularly called diesel and lubricants and greases.

For instance, Totalenergies Marketing Nigeria grew its petroleum products revenue by 62.4 per cent to N255.04 billion in 2021 from N157.05 billion in 2020, while its lubricants & others revenue

rose significantly by 81 per cent to N86.13 billion in 2021 from N47.7 billion in 2020.

Revenue from PMS reported

by MRS Nigeria rose by 90.06 per cent to N60.2billion in 2021 from N3.67billion in 2020.

With the further steady increase in global oil prices, the federal government through Petroleum Products Pricing Regulatory Agency (PPPRA) in March 2021 released a pricing template that indicated the guiding prices. `The template, which showed that petrol pump price was expected to range from N209.61 to N212.61 per

litre, was greeted with widespread public outcry.

It was based on an average oil price of $62.22 per barrel, and the landing cost of petrol was put at N189.61 per litre.

According to the Organization of the Petroleum Exporting Countries (OPEC), the price of crude oil moved from $67.12 in 2020 to $ 77.97 per barrel in 2021.

The National Bureau of Statistics (NBS) revealed that the average price paid by consumers for PMS increased by 0.04per cent on year-onyear basis to N165.77 in December 2021 when compared to N165.70

valued in December 2020.

The bureau also revealed that the average price for refilling a 5kg cylinder of liquefied petroleum gas (Cooking Gas) on year-on-year analysis increased from N1949.75 in December 2020 to N3,594.81 in December 2021 showing an increase of 84.37 per cent.

According to NBS report: “The average retail price of Automotive Gas Oil (Diesel) paid by consumers increased by 28.97per cent on a year-on-year basis from a lower cost of N224.37 per litre recorded Continued on page 26

Analysts Express Optimism in Exchange Rate Stability, See I&E/NA F E X R a t e Pe g g e d a t N434/USD Nume Ekeghe Analysts at Coronation Merchant Bank Limited have predicted a stable exchange between now and the end of the year as crude oil prices steadily accelerates.

They noted that with Nigeria’s foreign exchange reserve hovering around $40 billion, a steadily acceleration of oil prices, and external borrowings would place the central Bank of Nigeria (CBN) in a better position to defend the naira from

weakening this year.

In a report titled, “Blend of Optimism and Uncertainty, they added that they also expect to see the I&E/NAFEX rate pegged at N434/USD, by the end of the year, which is a slight depreciation from

its current rate at N416.67/USD. According to the analysts: “We have a cautiously optimistic view of the exchange rate. There are concerns around inflows accretion into the external reserves. At the FranceNigeria Security and Economic

Summit held in November ‘21 in Paris, the CBN governor stated that foreign reserves would surpass the $42 billion threshold by mid-2022.

This view was primarily hinged upon elevated crude oil price, the impact of Eurobond issuance, and a stable

exchange rate.”

The analysts pointed out that a hindrance to this upward trajectory would be if oil output declines.

They added: “Although oil prices Continued on page 27

M A R K E T D ATA A S AT T U E S D AY, F E B R U A R Y 2 2 , 2 0 2 2 FGN BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

C Ps MATURITY

Discount Yield

Change (%)

7.90

7.90

0.00

9.47

9.68

0.00

16.94

17.81 -0.15

9.49

9.76

-0.16

.

.

.

2

NGUS MAR 30 2022 428.93

3

NGUS APR 27 2022 430.63

3.72 0.00

4

NGUS MAY 25 2022 432.32

MREP CP XXXVI 11-FEB-22 UNCP CP VI 2-MAY-22 NEVE CP I 24MAY-22 DANC CP II 25MAY-22

4.38 0.00

5

NGUS JUN 29 2022 434.02

.

106.80

6.80

-0.01

NTB 10-Mar-22

2.98

2.99 0.00

110.95

8.38

-0.01

NTB 28-Apr-22

4.00

4.03 0.00

108.65

10.21 0.00

NTB 12-May-22 4.00

4.04 0.00

104.05

11.20 0.00

NTB 9-Jun-22

3.67

118.07

11.50 0.00

NTB 14-Jul-22

4.30

NGUS FEB 23 2022 427.24

26

WEDNESDAY, FEBRUARY 23, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Shobo: We have Invested Heavily in IT infrastructure to Ensure Seamless Experience for Diaspora Inflow With the urgency surrounding improving diaspora remittances, First Bank of Nigeria has over the years through its partnership with all the leading and emerging international Money Transfer Operators, its vast network of over 750 branches nationwide enabled diaspora remittances in Nigeria. The Deputy Managing Director of the bank, Mr. Gbenga Shobo in this interview with Nume Ekeghe speaks on First Bank’s drive towards advancing diaspora remittances in Nigeria and recent polices around remittances.

Being that diaspora remittances are an important stream of foreign exchange for Nigeria, what is FirstBank doing to foster diaspora remittances? emittance has always been a key focus of FirstBank, in fact, the first International Money Transfer Operator (IMTO) in the country came through FirstBank in 1996. Over the years, the bank has partnered with reputable IMTOs to increase remittance inflow into the country, easing the accessibility of its beneficiaries to receive money. We have also invested heavily in technology and IT infrastructure to ensure seamless experience in the receipt of diaspora inflow.

Naira4Dollar policy of the Central Bank of Nigeria (CBN), would you say it is a boost towards improving remittances?

Yes, the initiative has positive impact on remittance growth in Nigeria. It has encouraged more Nigerians to send funds through official channels as beneficiary earns N5 for every dollar received. The bank has recorded significant growth in remittance since the introduction of the initiative in March 2021.

R

How has FirstBank’s partnership with Western Union, MoneyGram, Ria, Transfast, WorldRemit and other international money transfer operators (IMTOs) fared over the years?

It has been a mutually beneficial relationship. FirstBank has enabled these IMTOs to remit billions of dollars to beneficiaries in the country over the last two decades.

FirstBank recently announced its partnership with more IMTOs to foster diaspora remittance. What was the strategy and insight to this?

Our goal is to always put our customers’ interests first. Partnering with other IMTOs gives the customers more options through which they can receive inflows from their

Also, as a follow-up, how has FirstBank customers embraced the Naira4Dollar policy?

Our customers have fully embraced the initiative as they receive the incentive due for each inflow.

Shobo

loved ones in the diaspora.

What is your market share of remittances collected from FirstBank compared to your competitors?

We are the market leader in the remittance space, our investments and expertise have kept us ahead of other competitors over the past 20 years.

What is your assessment of the

Recently, FirstBank launched the First Global Transfer (FGT), its wholly owned remittance platform to cater to its African subsidiaries, how has this product fostered intra-African transfers and trade?

FGT has eased remittance amongst our customers in African countries where Firstbank has its presence. It has fostered intra-Africa transfers and trade through a very fast, reliable, and automated solution that gives immediate value to the beneficiaries.

The customers can confidently leverage the platform to transfer funds within African corridors. Interestingly, the

unveiling of the FGT coincided with the commencement of the African Continental Free Trade Area (ACFTA), which kicked off on 1 January 2021. Was the timing deliberate or coincidental easing and promoting the implementation of ACFTA. The timing was coincidental.

However, FGT will be leveraging ACFTA to boost intra-regional transfers amongst her customers’ as more traders will be empowered to do borderless transactions.

What more can be done to encourage diaspora remittances through the official window against the backdoor channels?

More awareness should be created amongst the populace on the existing CBN intervention measures, such as CBN Naira4dollar initiative, auto-creation of USD Domiciliary accounts for customers without dollar account, etc., with this, beneficiaries will continue to encourage their senders to send through official channels. On the FirstBank part, we would continue to support all the CBN intervention policies and sensitize our customers to receive through official channels to enable them to reap the benefits therein.

What innovations and services can your customers expect from FirstBank going forward?

We are working on providing seamless receipt of remittance through the provision of self-service options on our digital channels.

UK Expert Urges Nigerian Organisations to Identify Business Threats, Opportunities Eromosele Abiodun Director of TEXEM UK, Caroline Lucas, a British but passionate supporter of Africa, has urged Nigerian leaders and organisations to identify threats and opportunities to survive in the present period of uncertainties.

In a TEXEM press release signed

by Caroline Lucas, Director of Special Projects, in Abuja, Lucas said more than ever before, deliberate efforts to develop innovation are now very vital for all organisations.

She asserted that contrary to the popular opinion that innovation was only essential for growth, it was also a vaccine against losses from pandemics.

“At this time and even beyond, retooling your organisation to sail through the turbulent times through creative ideas could be a defining

approach to outperforming the rivals, achieving profitable growth and succeeding. Africa Continental Free Trade Agreement, fluctuating foreign exchange, forthcoming elections, dwindling government revenue and high inflations offer threats and opportunities for every organisation. To succeed in these increasingly disruptive times, leaders need to build a culture and capability of agility, innovation and efficiency, “Lucas said.

She disclosed that TEXEM planned to train Nigerian and other global leaders to succeed in such times in its executive development programme on March 23 and March 24.

Lucas said the topic of the programme is, “Leading And Building A Culture Of Innovation For Sustainable Success”.

She said that London Business School Prof. Randall Peterson and

Oxford University-trained Prof. Roger Delves would be the faculty at the executive development programme.

“This programme aims to help develop leadership agility for innovation and sustainable success.

Its focus is to help the participants develop a clearer understanding of how to successfully drive innovation for sustainable success,” Lucas said.

She explained that by leveraging TEXEM’s tested and proven methodology, participants would learn practical skills actionable insights from the faculty.

Lucas said they would also gain valuable insights from their professional exchange with critical partners and colleagues.

“The development programme, organised by TEXEM, is virtual and will be engaging, “she said.

The release also quoted testimonials from delegates who

had previously attended similar TEXEM programmes.

“It’s a very insightful and worthy programme on Leadership and Executive Management. It has opened my eyes to understanding that you also have to be an effective follower to be an effective leader. I need to surround myself with people better than me and learn from them, “said Hakeem Muriokunola, Head of Service, Lagos State “It’s the first time I’m doing a programme in Nigeria, and it’s actually very interesting. The first thing I liked about it is the diversity of the participants and the quality of the network. I also like the edgy conversations we had with Christian and Alim. It’s quite thought-provoking, “recalled Effiong Okon, Operations Director, Seplat.

“The programme is an excellent one, it’s a world-class institute,

looking at the quality of materials, the quality of the facilitators, I think it’s a world-class programme. It could be anywhere in the world, and it’s a good standard,” said Glory Idehen, Head of E-Training, CBN. Roger Delves explained that given TEXEM’s impressive pedigree of consistently delivering value-adding programmes and the worldrenowned faculties such as Randall Peterson of London Business School, who would join me in delivering this programme, it is one that is timely and will help leaders and organisations to succeed.

“Thus, this programme on Leading And Building A Culture Of Innovation For Sustainable Success scheduled to take place virtually, from 23rd – 24th March 2022, is relevant, critical and promises to add immense value to organisations and leaders. Also, through this

programme, leaders would network and challenge assumptions. Notably, in times of social, economic and political turmoil, it is easy to get so engrossed in the daily struggle to survive that one forgets to take a breath, look around, take the temperature of the wider environment.

“Leaders can better focus on the bigger picture, identify opportunities, and inspire actions for profitable growth when one pauses to reflect and examine, which are missed in the rush and worry of the pandemic day. Intelligent executive minds all pausing simultaneously and exploring the same issues together are bound to come up with new thoughts, exciting ideas, refreshing, stimulating initiatives, and enhancing performance. Wouldn’t you want to be in the room when the process of impactful growth begins?, “he added.

of N35.00. The company’s payout is always 70 to 80 per cent every year and they may still pay a dividend of N20.00 at the end of 2021 financial year. It makes a lot of sense for investors to buy Total Nigeria and Seplat Petroleum shares on NGX.” The listed petroleum marketing companies sector on the NGX had emerged as the best performing index on the NGX amid impressive profit and revenue driven by a hike in prices of PMS, among others.

The index gained 52.52 per

cent to close 2021 at 345.01 basis points from 226.20basis points it closed in 2020.

The three drivers in the index, Totalenergies Marketing Nigeria, and Conoil appreciated in prices.

The stock price of Totalenergies Marketing Nigeria gained 71 per cent to close 2021 at N221.9 from N130.00, while Oando gained 19.5 per cent from N3.70 it closed in 2020 to N4.42.

In addition, Conoil gained 5.52 per cent in stock price to close at N22 from N20.85 it opened for trading.

PETROLEUM MARKETING COMPANIES’ REVENUE RISES BY 47 PER CENT in the corresponding month of last year to a higher cost of N289.37 per litre in December 2021.”

Despite the growth in revenue, Eterna reported N851.62 million loss in 2021 from N605.5million loss reported in 2020.

Conoil and Totalenergies Marketing Nigeria benefitted from the hike in revenue as profit declared in 2021 rose by 111.1 per cent and 711 per cent respectively.

Meanwhile, analysts have attributed the growth in petroleum marketing companies revenue to an increase in petroleum price.

“The crude oil price per barrel in the global commodity market was low in 2020 and it affected the price of petrol. The federal government was reliant to increase the price of petrol at some time.

Investors also compensated these companies considering their stock price appreciating in 2021, said analyst at PAC Holdings, Mr. Wole Adeyeye.

He added, “In 2020, business activities were poor and there was movement restriction that people were not travelling. In 2021, we saw the ease of movement, improved

activities in the transport, and commercial and manufacturing sectors.

“The growth recorded in revenue by these companies has a lot to do with improvement in business activities than the hike in price of petroleum products.”

Also, Capital market analyst, Mr. Rotimi Fakayejo attributed the increase in revenue of these companies to higher-margin in crude oil products, stressing that the ease of movement also contributed to revenue and profit.

According to him, “These

companies reported an increase in revenue due to higher margin in products the sale this year. The restriction of movement eroded their revenue last year but with the ease on COVID-19 lockdown, they were able to grow revenue that translates into profit.”

He maintained that investors can always consider buying Total Nigeria shares over its intrinsic fundamentals on the NGX. In his words, “Total Nigeria is one of the most reliable Oil & gas stock on NGX and the company by year-end is going to have EPS

T H I S D AY ˾ WEDNESDAY, FEBRUARY 23, 2022

27

BUSINESSWORLD

ECONOMY

Of Economic Diversification and Non-oil Revenue In this piece, James Emejo argues that the Nigerian economy cannot be deemed as truly diversified if the federal government does not derive significant amount of revenue from the non-oil sector

I

t is heart-warming that the economy has continued to show positive growth following the country’s exit from recession and remains resilient in the face of the threats posed by the COVID-19 pandemic.

It is also interesting to note the consistent improvement in the contribution of the non-oil sector to Gross Domestic Product (GDP) in relation to the oil GDP in recent times.

For decades, the government had been paying lip service to economic diversification without visible traction.

No doubt current administration has recorded remarkable progress in its efforts to reduce over-dependence on oil whose future can no longer be assured amidst the global move traction towards renewable energy sources.

GDP OVERVIEW

To put things in proper perspective, the economy grew by 3.40 per cent in 2021, the highest since 2014, when the economy grew by 6.22 per cent.

According to the National Bureau of Statistics (NBS), the expansion in economic activities was largely driven by the non-oil sector as indicated in the National GDP Q4 report.

The report also revealed that the country’s GDP grew by 3.98 per cent (year-on-year) in real terms in the fourth quarter of last year (Q4 2021), lower than the 4.03 per cent recorded in the preceding quarter.

However, the performance indicated a sustained positive growth for five consecutive quarters since the recession witnessed in 2020, when output contracted by 6.10 per cent and 3.62 per cent respectively in the Q2 and Q3 of 2020 under the COVID-19 pandemic.

Notably, the economy was largely driven by the non-oil sector, which accounted for 94.81 per cent of GDP while the oil sector contributed 5.19 per cent to growth.

The Q4 growth indicated a steady economic recovery, accounting for an annual growth of 3.40 per cent in 2021.

The NBS noted that growth rate under the review period was higher than the 0.11 per cent recorded in Q4 2020 by 3.87 percentage points and lower than 4.03 per cent recorded in Q3 by 0.05 percentage points.

In nominal terms, however, aggregate GDP stood at N49.28 trillion in Q4, higher than the N43.56 trillion in Q4 2020, and indicating a year-on-year nominal growth rate of 13.11 per cent.

Nominal GDP in the preceding quarter of Q3 2021 stood at N45.11 trillion while annual nominal value in 2021 was N173.53 trillion as compared to N152.32 trillion in 2020, indicating a growth rate of 13.92 per cent.

In terms of real GDP, which shows the volume of economic activities, the sum of N20.33 trillion was

recorded in Q4, higher than N18.54 trillion in the preceding quarter and also by N778.91 billion compared to N19.55 trillion recorded in Q4 2020.

The nominal GDP growth rate in Q4 was higher relative to 10.07 per cent growth recorded in the corresponding quarter of 2020 but lower compared to 15.41 per cent growth recorded in the preceding quarter while 2021 annual nominal growth stood at 13.92 per cent.

The NBS stated, “The improvement being seen in the output growth in the last five quarters depicts a steady progress made in stemming the COVID-19 pandemic and the associated negative impact on livelihood, well-being, and the economy.

“Globally, many countries have witnessed an improvement in economic performances compared to 2020 when COVID-19 was endemic. Thus, economic recovery is a gradual process that requires consistent collective efforts to improve economic activities across the institutional sectors.

“However, in Nigeria, the prospects of consolidating the recovery are glaring considering the improved economic performance over these periods of time.”

OIL CONTRIBUTION

Oil growth rate stood at -8.06 per cent in real terms in Q4 and annual growth rate of -8.30 per cent in 2021. On an annual basis, oil contributed 7.24 per cent compared to 8.16 per cent in 2020.

NON-OIL CONTRIBUTION

The non-oil sector, which excludes crude petroleum and natural gas activity recorded growth of 4.73 per cent in real terms, an improvement from 1.69 per cent reported in Q4 2020. The sector recorded an annual growth of 4.44 per cent compared to -1.25 per cent in 2020.

Annual contribution of the non-oil sector increased to 92.76 per cent from 91.84 per cent in 2020.

In addition, the services sector contributed 55.11 per cent to growth while agriculture contributed 26.84 per cent to overall GDP in real terms in Q4, lower than 29.94 per cent in the preceding quarter and 26.95 per cent in Q4 2020.

The manufacturing sector contributed 8.46 per cent; lower than the 8.60 per cent lower than 8.96 per cent in Q3 and 8.98 per cent in Q4 2020.

ECONOMY DIVERSIFICATION?

The whole essence of economic diversification is to significantly reduce the country’s reliance on fossil fuel for survival.

Given that the oil economy had proven to be increasingly vulnerable to the vagaries of time, especially in view of the volatility exposed by the COVID-19 pandemic, it is only reasonable to diversify the base of the Nigerian economy to guard against external shocks.

But though the government argues that the economy is now fully diversified, given the contribution of the non -oil component, the oil economy still accounted for over 80 per cent of federally generated revenues.

This implies that whenever there’s volatility in oil price, the Nigerian economy sneezes still - and such an economy cannot be adjudged as fully diversified if oil still dictates the pace and could hold the economy to ransom.

ANALYSTS’ CONCERNS

Commenting on the development, Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, described the situation as a mismatch - where the oil sector contributed 80 per cent of federally generated revenue but accounted for only 5.19 per cent of GDP. He told THISDAY, “This could mean that government is not generating enough revenue from the non oil sector. In other words, the non oil sector is driven by the private sector, and government is not optimising the growth in the private sector to generate enough revenue for itself”.

He said, “It also means that private sector involvement in oil sector is minimal compared to government.

“However, the 2022 budget has been predicated on a reversal of this mismatch, as government proposed that only 35 per cent revenue will be expected from oil sector, while 65 per cent would be expected from non oil sector.”

Ekechukwu added that the amendments in the Finance Act are expected to support and drive the revenue from the non oil sector through inclusion of taxes that were hitherto, not within the tax net, particularly taxes in gaming and foreign e-channel companies, as well as other amendments therefrom.

Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade said the country’s over dependence on oil revenues had affected other key major growth areas which government had not really developed to take over from crude oil.

He said, “The revenue from crude oil accounted

for 80 per cent of federally generated revenue because it still the highest grossing revenue earner for the country as regards foreign exchange despite his lower contribution to the GDP. “Nigeria needs to ensure that the key drivers of the economy that contributed 94.81 per cent to the GDP like agriculture, transport and logistics and the aviation sectors are strengthened to ensure better performance in Q1 2022.”

He pointed out that consistent and targeted reforms were needed to achieve sustainable growth in the non-oil sector adding that mining and solid minerals, health and education needed to be given priority.

Gbolade said, “There is nothing stopping Nigeria from being the health and education hub were health and education tourism can be encouraged to earn the much needed foreign exchange.

“We also need to implement revenue based fiscal consolidation.

“Finally, we also need to reduce inflation and unemployment and work towards ensuring policy framework that can boost investment in key sectors of the economy to sustain the GDP growth.”

On his part, Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, said it would take time to dilute the dominance of oil as the major revenue driver given its demand in global markets and Nigeria’s seemingly abundant supply.

He explained that the dominance also creates a concentration risk to government coffers, stressing that “If oil prices rise, the economy looks buoyant and if prices drop significantly then the reverse is the case”.

He said, “ The non-oil sector will begin to compete with oil as a revenue driver when we as a country are able to harness the vast resources we have and begin significantly exporting to global markets.

“This can only be achieved through long term strategic thinking backed by policy directives.

“There must also be incentives for all regions of the country to produce rather than an over-reliance on an over burdened federal government.”

Shelleng, however, pointed out that “Historically, the non-oil sector has been the major driver of GDP in Nigeria, whilst government revenues have largely been dominated by inflows from oil sales.

“There has been a concerted effort by the government in recent times to diversify away from an over-reliance on oil as a driver of revenues. Recent significant increases in non-oil revenues have included customs duties and taxes as the collections from the relevant agencies have become more efficient,” he said.

ANALYSTS EXPRESS OPTIMISM IN EXCHANGE RATE STABILITY, SEE I&E/NAFEX RATE PEGGED AT N434/USD have remained relatively healthy over the past 12-months, it is susceptible to economic shocks. Nigeria’s oil production capacity continues to limit the country’s ability to reap the benefits of elevated oil prices.

According to OPEC data obtained from secondary sources, Nigeria’s oil output excluding condensates increased by only 8.3 per cent m/m

to c.1.3mbpd in November ’21, which is below budget estimates 1.8mbpd and OPEC quota of 1.6mbpd.”

“Another factor to consider when examining reserves is foreign portfolio investment inflows. Nigeria’s macroeconomic environment remains fragile and is attractive to investors with a huge risk appetite. Given the general

view that tapering across advanced economies will kick off in 2022, this suggests that monetary policy normalisation is on the horizon.

“One potential implication of this is a shift in international capital flows away from emerging and frontier markets such as Nigeria, as well as a spike in borrowing costs on the global capital market.

In addition, negative real interest rates as the headline inflation rate remains in double digits would also contribute to weak portfolio investment inflows.”

They further added that they expect inflows into the foreign reserves on the back of external borrowings there seems to be keen interest in bilateral and multilateral

loans in 2022, as seen in the latest debt management framework 2021-2025.

“Regarding Eurobond issuances, there is no clear direction on issuance dates for 2022. Barring any large outflows, we see reserves at +/- $38 billion by year-end 2022. This can provide cover of c.9.0 months’ merchandise imports based on

the balance of payments for the 12 months to December ‘21, and c.7.0 months when we add services.

We consider this a healthy buffer and sufficient to defend the naira at current levels, we have provided room for potential small depreciations. We see the I&E/ NAFEX rate at N434/USD at end-2022,” the report stated.

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BUSINESSWORLD

NEWS

IMF Chief Pledges Large Scale On-lending of SDRs to Africa Nume Ekeghe The International Monetary Fund’s Kristalina Georgieva has noted that for an inclusive and sustainable growth in Africa, the IMF would

accelerate its Special Drawing Rights (SDR) allocation with more funding to the African continent.

She said this at the EUAU Summit Roundtable on financing for sustainable and

CSR: FBNInsurance Donates to Less P r iv i l e g e H o m e s FBNInsurance Limited, and its subsidiary, FBN General Insurance, recently donated various items to Orphanage Homes and a Foundation across three geographical regions of the country namely Lagos, Abuja and Port Harcourt.

A statement by the insurance firm said the donations were part of the companies’ corporate Social Responsibility initiative.

It named the beneficiaries as Heritage Homes Orphanage, Lagos, Down Syndrome Foundation, Lagos, The Poorest of the Poor, Abuja, and Goodness and Passion Orphanage Home, Port Harcourt.

Items donated by the Life Insurance firm include food, beverages, toiletries as well as an undisclosed amount of cash to the beneficiaries.

Most of the items donated to the beneficiaries according to the statement, were largely raised through the company’s annual Staff Gift Drive which is an in-house initiative that encourages members of staff of the company to donate various items for a common cause.

The FBNInsurance Staff Gift Drive was initiated in 2015.

While appreciating the insurer, on behalf of the Board and Management of Heritage Homes & Orphanage, the Assistant General Manager of the orphanage home, Mr. Reuben Amara, thanked the company for its kind donation towards the upkeep of the children in the Home.

“We appreciate FBNInsur-

ance for always standing by us and seeing to the needs of the children every year.

We pray that the Almighty God will reward your labour of love. We look forward to seeing you again,” he said.

Similarly, the Educational Therapist, Down Syndrome Foundation Nigeria, Mr. Innocent Okuru, who received the items on behalf of the Foundation, also expressed the Foundation’s gratitude for the insurer’s donation.

Okuru said, “We are grateful for your support, concern, love and for interest shown to our mission. We thank you from the depth of our hearts and pray that FBNInsurance continues to grow from strength to strength.”

The Management, staff and children of Goodness and Passion Orphanage Home, Port Harcourt, and The Poorest of the Poor, Abuja, in their words of appreciation to FBNInsurance, prayed for the continuous growth of the company.

In his comment, the Managing Director/Chief Executive Officer of FBNInsurance Limited, Mr. Val Ojumah, said the company was delighted to hold the initiative adding that it was the organisation’s way of appreciating God’s creation and, at the same time, giving back to the society.

Ojumah, reassured the Orphanages and Foundation of his company’s continued commitment to supporting the cause of the organisations in making society a better place.

Fidelity Bank Appoints Amuchie as ED Fidelity Bank Plc has announced the appointment of Mr. Stanley Chiedoziem Amuchie as Executive Director, Chief Operations and Information Officer of the Bank upon approval by the Central Bank of Nigeria.

Stanley joins the Board of Fidelity Bank Plc with impressive multi-functional work experience spanning banking, audit, risk management, corporate governance, quality control, operations and information technology, strategy, financial control, business and financial advisory, accounting, general management, business development and consulting, with over 23 years of experience in the banking and financial

services industry.

Commenting on the appointment, Mr. Mustafa Chike-Obi, Chairman, Board of Directors of Fidelity Bank Plc, said: “Stanley is a superb fit for our organization given his depth of knowledge and wealth of experience especially in the financial services industry.

The Board is confident that he will make significant contributions to the Bank’s growth and development; and we look forward to working closely with him in deploying our strategy of delivering prompt, value-adding and financially empowering services to our growing customer base.”

inclusive growth recently.

She noted that with $33 billion for African countries out of a $650 billion global allocation tilts the scale further from an inclusive growth for Africa.

She said: “ As the world emerges from an unprecedented crisis, all countries are struggling with challenges–but it is particularly true for Africa.

Africa experienced a painful contraction in 2020. Since then, it has started growing again but for many countries growth falls short of what is needed.

“In both 2021 and 2022, Africa’s projected growth trailed the global average.

And it ought to be the other

way around. Africa should outperform the rest of the world—so countries can create jobs and lift up living standards. It is in this context that we at the IMF have taken unprecedented action to support our member countries, especially on the African continent. I like to say: we are stepping up with and for Africa.

“We have reformed our concessional lending framework. And here I want to recognize Prime Minister Magdalena Andersson of Sweden. Her leadership as chair of the International Monetary and Finance Committee (IMFC) helped us to increase access to IMF financing for African economies.

And, as a result, last year we provided lending that was 13 times higher than the annual average of the previous decade.”

She added: “We also moved quickly for a Special Drawing Rights (SDR) allocation. As has been acknowledged, it has helped Africa—but it has not helped enough. In some countries, it amounted to as much as 6 percent of their GDP, which is not at all trivial. But that said, $33 billion for African countries out of a $650 billion global allocation is clearly not where we want to be.

“So, we are moving to the next frontier which is large scale on-lending of SDRs— from countries that got them

but don’t need them as much, to countries that need them most.”

She added that they have about $60 billion in pledges from G20 members and they urge more developed countries to pledge more.

She added: “For the first time in our history, the IMF will offer longer-term maturities and longer-term grace periods to support the structural transformation efforts of emerging market and developing economies.”

“Our objective is to have the RST design approved at our Spring Meetings in April. I ask all member countries to help us meet this deadline and thus to be in the implementation phase by the fall.”

REWARD FOR SHAREHOLDERS…

R-L: Chief Executive Officer, Chellarams Plc, Aditya Suresh Chellaram; Managing Directosr, Suresh Murli Chellaram; Chairman, Solomon Onafowokan and Company Secretary, Ehimare Isiramen Esq, at the 72th Annual General Meeting of the company held in Lagos)… recently

NAICOM Partners Devt Agency to Launch Digital Insurance Solution The National Insurance Commission (NAICOM) is partnering FSD Africa to launch BimaLab, an accelerator programme designed to boost the development and adoption of digital solutions for the insurance sector.

BimaLab Nigeria, aims to address gaps in the insurance market by educating, nurturing and promoting innovators and Insurtech start-ups.

The programme will borrow from Kenya’s BimaLab I, BimaLab II and global best practices with a focus on local experience to provide Nigeria with the most competitive and attractive start-up accelerator programme.

The Director, Risk and Resilience, FSD Africa, Kelvin Massingham, said ten companies

would be selected to participate in the ten-week programme that would provide them with the expertise, resources, and support to develop and scale market-ready solutions that bring social and/ or commercial value to Nigeria’s insurance sector.

He noted that across the continent, little knowledge of the insurance industry coupled with low income has affected the rate of insurance penetration in the mass market. Yet, a recent report by Deloitte indicated that affordable insurance products play a crucial role in mitigating the effects of negative financial shocks and in doing so reducing financial vulnerability.

He said to widen insurance coverage, FSD Africa, has recently

rolled out a similar accelerator programme in Ghana (InnoLab).

“The solutions being supported through the accelerator programmes will be expected to also speak to the needs of populations beyond their borders of origination.

“Among the success stories from previous BimaLab Accelerator Programmes include Bismart, a Kenyan insurance agency that has partnered with Britam to launch a short-term school fees insurance cover called Elimu Smart.

The cover protects school-going children from dropping out of school in the event of their parent or guardian becoming critically ill or dies, safeguarding the future of the children even in cases of incidents.

“We believe that this programme

will enhance the development of a vibrant ecosystem of startups; through collaboration with corporate partners, investors and research institutions to accelerate and scale innovation in the insurance industry in Nigeria.

We have successfully implemented the programme in Kenya, and are commencing the same in Ghana”, Massingham said.

Also speaking, the Commissioner for Insurance, Mr. Thomas Olorundare Sunday, said as a key driver of change in the financial sector, innovation has led to immeasurable efficiency and gains.

He noted that even though these changes could sometimes be accompanied by uncertainty and hesitation, there was evidence of great success.

Reckitt Nigeria Launches Graduate Trainee Program Reckitt Nigeria home to World class brands; Dettol, Harpic, Mortein and Durex has kicked off the recruitment drive for its 2022 Graduate Trainee program “Reckitt Trailblazers” with a Career Forum at the Pan -Atlantic University, in Lagos, Nigeria.

The General Manager Reckitt Sub Saharan Africa, Mr Akbar Ali Shah who was the guest speaker at the Forum, started his session with an overview of Reckitt’s business in Sub Saharan Africa, and went on to share lessons from his 20 years of professional life. Amongst the many lessons shared, Shah advised the students to always be ready to take advantage of career opportunities and emphasized the importance of finding their purpose in

other to provide value to the world around them.

Executives from Reckitt were also present at the forum, they spoke to attendees about the company’s brands, its purpose, its people and culture, as well as the various sustainability initiatives they have such as the Dettol Clean Naija and Mortein Fight to End Malaria programs. Also speaking at the session, the Human Resource Director, Reckitt Sub Saharan Africa, Mr Abel Idonije, said, “At Reckitt, there are lots of career opportunities not just in Nigeria but globally where Reckitt companies are situated. The Reckitt Trailblazers program will be based on merit and only the best students would qualify.

There are two ways we are

offering students to join the company, the 3 and 6-months internship programs for those who are still undergraduates, and the Reckitt Trailblazers program for graduates”. He went on to shed light on the graduate recruitment process which will be in 4 stages: First is an online application, next psychometric tests for qualified candidates, then a case study assessment and the final stage will be an Interview with a functional manager.

The Director of Academics, Pan-Atlantic University, Dr. Olusegun Vincent, thanked Reckitt for coming to speak to the students. He stated, “Reckitt is a global brand and a household name which has been attested to by the positive response by the

students who seem to know the brands very well. The Pan-Atlantic University is a world-class tertiary institution and appreciates the gesture from Reckitt, makers of so many brands that touch lives globally.”

The Forum concluded with an interactive Q&A and was very beneficial for attendees. Reckitt will also be present at the 5th edition of the University’s Career Fair where they will further engage the students and give more information about the opportunities they may have within the organisation in the future.

The Reckitt Trailblazers recruitment drive will also be done in other Universities in Nigeria this year.

T H I S D AY ˾ WEDNESDAY, FEBRUARY 23, 2022

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BUSINESSWORLD

INSURANCE

NAICOM’s MDRI Initiative: 13 Years After In search for an initiative that will unveil the Nigerian insurance industry to the world for patronage and investment opportunities, the NAICOM launched the MDRI. Ebere Nwoji looks at the success and failures of the initiative 13 years after and the need to launch and implement the proposed second phase.

T

he National Insurance Commission (NAICOM), in September 2009, launched the muchtaunted Market Development and Restructuring initiative (MDRI), a medium term plan of the commission targeted at driving insurance penetration in Nigeria.

The commission planned the launch and implementation of the initiative in two phases saying the first phase would span between 2009 to 2012 while the second stage would span from 2012 to 2017.

Some of the objectives of the initiative according to NAICOM, were to ensure the deepening of the insurance market and moving the industry’s gross premium form the then N164 billion level to NI.1 trillion 2012.

The initiative, according to NAICOM also has the objectives of creating 50,000 jobs in Nigeria through the insurance agency system, fight against fake insurance institutions and ensure enforcement of compulsory insurances.

It is now 13 years since the launch of the first phase of the initiative and the commission is yet to launch the second phase billed for launch and implementation between 2012 and 2017.

Aside this, since then, the commission has sealed the MDRI from public view. Its strategy document has been hid from the public throwing doubt on the level of its success.

SECOND PHASE DELAY

For instance, in September 2016, the former commissioner for insurance, Alhaji Mohammed Kari, announced NAICOM’s bid to launch the second phase of the initiative.

Kari, had said that launch of the MDRI second phase would drive the enforcement of compulsory insurance adding that the commission had signed a memorandum of understanding with government ‘s ministries, departments and agencies on Insurance of government’s properties.

According to Kari: “The MDRI is an initiative we would continue with, because it was designed to help the penetration of insurance and we can still do a lot on that. What we have done to strengthen the implementation, is to set up an internal unit that is specifically, assigned to handle public sector insurances and advice.

“Towards that, we have issued a circular to all Ministers; Ministries; the Head of Service; Secretary to the government; Permanent Secretaries; Head of MDAs, including the Chief of Staff to the President. Highlighting to them that the role of NAICOM is ensuring that the insuring public are insured properly.”

“The unit will assist the MDAs in structuring their insurances properly.

We have given them a template on information to give. Like how we can access government assets that need insurance, and we are going to work jointly with the Minster of Finance and the Budget office to ensure that these assets when identified and valued appropriately are provided for in the budget and paid for the purpose of insurance,” Kari stated.

Despite the preparations, Kari could not carry out the launch of the MDRI initiative until he left office.

Then came the incumbent commissioner for Insurance, Mr Olorundare Sunday Thomas with his own proposal on the initiative’s second phase launch.

Delivering his welcome address at a seminar organised by NAICOM for the media in Kano, he said the second phase would soon be unveiled.

He said to ensure the success of the initiative, the regulatory body would mark out clear targets and tasks for all stakeholders in the insurance industry, even as he said that the Commission

would pursue implementation of compulsory insurances in every part of the country.

He said, “Going forward, we shall vigorously pursue the continued implementation of Compulsory Insurances in every nook and crannies of the country. We are certainly not unaware of the challenges inhibiting the successful implementation of these classes of insurance thus far hence, our resolve to work with relevant stakeholders to ensure a seamless drive.”

It is getting to two years since he made the promise, yet the launch has not seen the light of the day.

NEED FOR SECOND PHASE

Industry stakeholders believe the avoidable delay in the launch of the second phase of the initiative should not have been considering the fact that though to some extent the first phase recorded some level of success, the industry was yet to achieve the exact target that has driven

the launch of the first phase of the initiative.

The stakeholders cited example of the annual premium income of the industry saying 13 years after the launch of the first phase targeted at shoring up the annual premium income of the industry from the hitherto N164billion level in 2008 to N1.1 trillion by 2012, today unaudited financial statement of the insurance sector as released by NAUCOM for 2021 said the overall premium income of the industry stands at N630.4 billion while assets stand at N2.1 Trillion.

The stakeholders said the mere fact that the industry is yet to achieve the main target of the first phase was enough for the commission to have vigorously pursued the launch of the second phase. Aside the premium income level, the industry is still grappling with overcoming its major challenge, which is faking of insurance certificates.

Indeed, despite the launch of the Nigerian Insurance Industry Data Base targeted at

checkmating the activities of fakers of Third Party Motor Insurance certificate, insurers cannot boast of having issued 50 per cent of all the Motor insurance certificates paraded by motorists.

The fakers are still taking upper hand in the business. Just late last year, members of National Union of Road Transport workers (NURTW), in one of the northern states boldly announced that in order to cut down on the cost of maintaining their commercial vehicles in terms of licenses, insurance and other statutory documents issued by government, they would no longer obtain their insurance certificates from their states where the government is collaborating with insurers to ensure that motorists obtain their insurance certificates from genuine operators through payment of the right official insurance charges.

They said they would go to the neighboring states where they could pay N1000 to fakers instead of N5000 charged by the genuine

insurers.

This is still happening even in states where the NIID has been declared to be a huge success.

This has spelt the need for the commission to gird itself and relaunch the initiative to put new strategies in place and block all loopholes through which insurance premium drip off genuine insurers’ vault.

FAKE CERTIFICATE MASTERMINDS

The insurers have been struggling to ensure that the NIID is extended to the various ports in the court to check the menace of fake marine insurance certificate masterminds but are yet to achieve breakthrough, insurance industry observers said these are issues the second phase re-launch would address.

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

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T H I S D AY ˾ WEDNESDAY FEBRUARY 23, 2022

EDUCATION Giving Succour to Indigent Students in Edo Adibe Emenyonu reports on the award of scholarships to 100 students of public schools, including those at the Internally Displaced Persons (IDPs) Camp in Edo State, by children of late Captain Hosa Wells Okunbo

Pupils of George Idah Primary School, with members of late Captain Hosa Okunbo family and heads of schools

M

ercy Ohiosimuan is a senior secondary three (SS3) student of Imahuero Girls’ Secondary School, Benin.

She said though education is relatively free in the state, it has not been easy for her parents who earn meagre income.

“There is even no assurance of sitting for the Joint Admissions and Matriculation Board (JAMB) examination. For me, I only pray that at least my parent can enrol me for the West African Senior School Certificate Examination (WASSCE), and when I finish, I can go and learn a vocation,” she explained.

Mercy was contemplating how to overcome her education predicament when she got an unexpected news.

She had been selected as one of the 100 beneficiaries of the late Captain Hosa Wells Okunbo scholarship award to indigent schoolchildren of public primary and secondary schools in Edo.

The scholarship scheme was put together by children of the late philanthropist and business mogul in commemoration of his 64th posthumous birthday.

Okunbo passed on in September last year.

The first daughter of the late philanthropist (and wife of the Olu of Warri, Olori Atuwatse III) urged the schoolchildren to imitate her father, who excelled in life through hard work and determination.

Accompanied by her siblings, other family members and heads of schools, Olori Atuwatse III said, “Captain Hosa was many things to many people. My father went to school in this city, my mother went to St. Maria Goretti Girls Grammar School, so I want to encourage you to be determined like my father.”

Earlier, Olori’s younger brother and Okunbo’s first son, Osahon, said Nigeria invested in his late

father through scholarship. And he always wanted to give back because of what the country did for him. “This is one way we can continue that, and to honour him.”

Also speaking, the deceased’s immediate younger brother, Mr. Kingsley Okunbo, urged the beneficiaries to take their studies seriously.

On behalf of the awardees, Mercy thanked the Okunbo family for what God is using them to do for the Indigent students through scholarships.

She said it would have been extremely difficult for most of them to enrol in external examinations if not for this scholarship.

On behalf of the IDPs at Ohogua, Ovia North East Local Government Area, whose inmates were also part of the scholarship, the Camp Supervisor, Pastor Evelyn Omigie, thanked the donors.

Reminiscing the philanthropic gestures of the late business

magnate, Omigie said, “Captain Hosa Okunbo was always there for the orphans, widows and other less privileged. Though he is gone, he is still alive because of his legacy of raising lives and giving hope to the hopeless. I thank his family for continually being there for us.”

The Chairperson, Nigeria Union of Teachers (NUT), Oredo Local Government chapter, Mrs. Grace Omogiate, thanked the family for the scholarship.

The ceremony’s highlight was the presentation of N75,000 cash to pupils in primary schools and N100,000 to those in junior and senior secondary schools (Community Primary School; George Idah Primary School; Ogbe Primary School, Benin; Price High School, Ohogua, Ovia North East Local Government Area; Edokplor Primary School; Imaguero Girls Secondary School; St. Maria Goretti Girls’ Grammar School; Itohan Girls’ Grammar School; and Ologboshere Primary School).

FG to Train 45,000 Teachers Kuni Tyessi ÓØ ÌßÔË

The federal government has announced digital literacy training for 45,000 teachers across 24 states.

The Registrar, Teachers Registration Council of Nigeria (TRCN), Professor Josiah Ajiboye, announced this during the third phase of the Global Partnership Education (GPE), Digital Literacy Training and Remote Learning Strategies for

Teachers.

The lead role of the teacher training sub-committee of the GPE programme was ceded to the council by the Federal Ministry of Education.

According to Ajiboye, the training was designed to bridge the gap created by the outbreak of the pandemic that affected the Nigerian education system.

He disclosed that Benue, Bauchi, Ebonyi, Enugu, Gombe, Jigawa and 10 other focal states

were initially selected for the training.

He added that the digital literacy programme would train teachers and school leaders in emergency preparedness and response to provide safe school practices, including COVID 19.

The TRCN registrar disclosed that each tranche of the training would involve 7,500 teachers.

“The first stage of this project

was the training of 480 master trainers who would serve as facilitators in the upcoming training across Benue, Enugu, Kaduna and Sokoto,” he disclosed. “The minister of education added eight more states to the already selected 16 states making it 24, that means 45,000 teachers will now be trained overall. This will be the first phase of the GPE teachers training programme.”

After the circle of 16 focal

states, he said 15,000 more teachers would be trained in eight focal states of Bayelsa, Delta, Edo, Ekiti, Lagos, Osun, Oyo and Rivers.

Speaking on the one teacher one laptop initiative of the federal government, Ajiboye said the project was at the conclusive stage with the appraisal of the Nigeria Union of Teachers and a submitted document to the full adoption of the project.

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T H I S D AY ˾ WEDNESDAY FEBRUARY 23, 2022

EDUCATION

UBEC to Conduct Assessment Based on Varsity Don Tasks NUC on Reform, Curriculum Upgrade Best Practices Funmi Ogundare

Kuni Tyessi in Abuja

The Executive Secretary, Universal Basic Education Commission (UBEC), Dr. Hamid Bobboyi, says the commission has concluded plans to conduct an internationally accepted national assessment.

He disclosed this at a fiveday workshop to develop test items for Nigeria’s 2022 National Assessment of Learning Achievement in Basic Education (NALABE).

He said UBEC and UNICEF had put everything together to conduct an internationally accepted national assessment.

The national assessment is a survey of schools and learning to provide evidence about learners’ achievement in identified curriculum areas such as reading/literacy, mathematics/numeracy, science, and other skills for a clearly defined part of the education system.

In a statement signed by the Head, Public Relations

and Protocol, David Apeh, Bobboyi said the workshop aimed to achieve “objectives amongst others to generate test items in four core subjects in primary 3, 5, and JS 2.

The executive secretary, represented by the Deputy Executive Secretary, Prof.

Bala Zakari, said that since the inception of UBEC, the commission had conducted five studies, 2001, 2003, 2006, 2011 and 2017, based on its mandate enshrined in the UBE act of 2004.

The Director Quality Assurance, Mallam Mansir Idris, said the commission, in its quest to conduct a national assessment that will be recognised and acceptable by stakeholders nationally and internationally, identified the need to collaborate and work closely with international agencies like IEA, UNICEF, FCDO, and other agencies involved in large scale assessment for the development and standardised test items.

A Professor of Curriculum Studies and Education English (TESL), Department of Arts and Social Sciences Education, University of Lagos, Anthonia Ngozika Maduekwe, has called on the National Universities Commission (NUC) to reform and upgrade the curriculum and instruction of English as Second Language (ESL) teacher education programme in Nigeria.

Maduekwe, who said this recently, while delivering her inaugural lecture titled ‘TESL Pedagogy: A Paradigm Shift for Global Competitiveness’, said such must be focused on structure, duration, certification, competency and motivation.

“Despite the efforts to promote sustainable proficiency in teaching English as a second language pedagogy in Nigeria, especially at the university level, the quality of English teacher education and

professional practice have continued to attract severe criticisms,” the don said.

She added that many graduates and nongraduates have challenges communicating properly in English.

According to Maduekwe, Nigerian graduates come out of school with high expectations and ambitions, yet their skills and competencies for work fall short of expectations.

“Universities should be more technology-driven in order to create new learning processes that meet international standards of teaching and learning, information management and record-keeping to safeguard the integrity of the certificates they award,” she explained.

“Priorities should also include the introduction the introduction of such courses as coding and robotics in the curriculum which can usher students into the era of the fourth revolution and prepare them for jobs of the future.”

9mobile Advocates Technology Adoption for Multilingual Learning A Professor of Curriculum Studies and Education English (TESL), Prof. Anthonia Ngozika Maduekwe flanked by the management of University of Lagos, during the institution’s inaugural lecture series 2022 held recently

Don Seeks Revitalising of Literary Activities in Secondary Schools Mary Nnah

Perturbed by the dearth of English/literature teachers at the secondary level and the falling standard of education, while students are dropping out of school, Dr. Stella Idowu Ebuetse, a PhD holder in literary studies and Executive Director of Sastoma Empowerment Foundation (STEFO) has organised an academic TV reality show for secondary school students, ‘Wake Up the Giant’.

She explained her intention to draw the government’s attention to the dearth of English and Literature teachers in Nige-

rian schools and dilapidated physical structure, among other deficits that need urgent attention, propelled the initiative.

The event is scheduled to be held in Nigeria and across Africa as it progresses. The audition began with secondary schools in Ikotun/Igando Local Council Development Area (LCDA), where they displayed their talents in poetry.

“Previously in some states when we organised this event, there were discoveries amazingly, only a few of them can communicate fluently with the English language,” she explained.

“The government has been

celebrating the entertainment industry and stars more than the academic environment.

This has conditioned the mindset of our youths who believe more in entertainment and see education as a scam.”

Ebuetse expressed worry over the drastic fall in the standard of education and laziness in reading and appealed to the government to invest more in education and promote literary activities.

She encouraged the government and society to celebrate education heroes like celebrities.

“Moreso, innumerable deficiencies in our educational system calls

for drastic action among well-meaning Nigerians to support the project, the first academic literary reality show in Nigeria and Africa at large,” she added.

The Vice-Chairman of Ikotun Local Government Council Development Area (LCDA), Mopelola Badmus, said, “We need to set the tone for policy review and indeed an overhaul of the curriculum of the country’s educational system, which has suffered an erosion of quality, especially at the secondary level. Government should invest more in education and engage our youths in productive ventures.”

US Consulate Donates e-Library to ChrislandVarsity The United States Consulate has donated e-library resources to Chrisland University, Abeokuta, to enhance research in the institution and promote opportunities for students and scholars.

The Deputy Public Affairs Officer of the consulate, Jennifer Foltz, urged Nigerian students and other researchers to take advantage of the plethora of American educational opportunities to better their careers while in school.

“As we travel across southern Nigeria, we try to know different universities; we try to get to know the leadership, the faculties, the staff, the students and define what areas of specialities they have, what areas of research, so that we can look for ways to collaborate,” stated Foltz.

“So, we are here today at Chrisland University, Abeokuta, to learn more about the university and see which areas we can forge our partnership.”

She disclosed that the American government had about seven US fullscholarship programmes for students at various universities in Nigeria where research and teachings, among other activities.

The consulate said it was impressed by the university’s research focus and scholarly mode of imparting knowledge to its teeming students and pledged to forge more collaboration that would benefit the students in several ways.

The university’s Vice Chancellor, Prof. Chinedum Peace Babalola, expressed optimism that the institution would use the opportunity of the visit to start a warm relationship on capacity-building support through knowledge sharing exchange programmes, among others.

Prof. Babalola also disclosed that the university was almost through with its plan to establish an institute for security, development, and diplomacy.

Uchechukwu Nnaike

One of Nigeria’s telecoms service providers, 9mobile, has lent its voice to the global call to adopt technology for multilingual learning.

The company said this in commemoration of this year ’s International Mother Language Day with the theme ‘Using Technology for Multilingual Learning: Challenges and Opportunities’.

The year ’s theme underscores the vital role of technology in advancing multilingual education and supporting the development of quality teaching and learning for all.

Speaking on the significance of the theme, the Executive Director, Regulator, and Corporate Affairs, 9mobile, Mallam Abdulrahman Ado, said using technology to enhance the learning of languages will ensure equitable and inclusive education for all.

Meanwhile, the telecoms firm has unveiled three judges and announced a shortlist of 10 entries for its FutureCEO speech competition initiative, collaborating with the District II of Lagos Ministry of Education.

The unveiling was in preparation for the grand finale scheduled for March 1.

Speaking at the unveiling, the Executive Director, Regulatory and Corporate Affairs, 9mobile, Abdulrahman Ado,

said the thinking behind the FutureCEO Initiative is to stimulate the interest of young students of secondary school age in business and leadership.

He thanked the Lagos State Ministry of Education for the support and collaboration received so far.

The three judges are Hussaina Ishaya Audu, a lawyer and educational administrator, currently the principal of Greensprings Schools Lekki; Johnson Abbaly, Chief Executive, LightField House International, a talent profiling organisation; and Temitope Adeyemi, teachability expert, training re-engineering and acceleration advocate.

Johnson Abbaly, who spoke on behalf of other judges, thanked 9mobile for the confidence in their ability to carry out their assignment as professionally as possible.

Clarifying the selection process, Abbaly said, “It is important to state that we can only have one-star prize winner; the same rule is applicable in this instance. However, we will have two runners-up and consolation prizes for other participants.”

The grand finale will hold on March 1, 2022, at the Immaculate Heart Comprehensive Senior High School Hall, Education District II, Maryland.

The maiden edition of the FutureCEO initiative, with the theme, ‘What will you do if you get to be 9mobile CEO?’

36

T H I S D AY ˾ ˜ Ͱͱ, 2022

BUSINESS/MONEYGUIDE

Fidelity Bank Restates Support for CBN FX Repatriation Push Fidelity Bank Plc has reaffirmed its commitment to actively support the Central Bank of Nigeria’s (CBN) efforts to achieve its goal of $200 billion in foreign exchange repatriation from non-oil exports over the next five years.

The Executive Director, Northern Businesses, Fidelity Bank Plc, Hassan Imam made this known at a workshop for exporters and investors on the implementation and opportunities in the new CBN RT200 FX Policy, held in Kano.

Imam stated that the bank would not relent in its efforts to bridge the knowledge gap in the non-oil sector space by facilitating the necessary processes and documentation for the new policy, with the goal of increasing FX repatriation through exportation.

The Regional Bank Head,

North West 1, Fidelity Bank Plc, Mannir Ringim re-emphasised the bank’s readiness to support government’s economic imperatives to boost revenue in non-oil sector of the economy.

“As you know Nigeria is currently an import-dependent economy with so much pressure on our currency and the source of revenue as a nation is petrol dollar. So, the initiative of the CBN is to leverage on our non-oil products especially in agriculture like hibiscus flower, cashew nut sesame and many other products for exports.

“Now, Fidelity Bank wants to remain the exporters’ bank of choice not only by providing finance but by helping exporters in bridging the knowledge gap in exporting their commodities. We are committed to this initiative to improve our economy, reduce

pressure on local currency and provide an enabling environment to grow the non-oil sector to also create massive job opportunities”, Ringim explained.

Speaking on the need for strategic planning in the nonoil sector, Head of Export and Agric Businesses at Fidelity Bank, Isaiah Ndukwe said the bank is well positioned to advance the CBN policy thrust to reduce our over-dependence on oil revenue in the country.

He stated that the bank is committed to improving the banking system’s competitiveness while focusing on developing exporters’ capability in the fundamentals of local commodity exportation. Isaiah emphasized that the new policy will not only reshape exporters’ mindsets, but will also infuse value addition on their commodities, allowing them to earn more forex.

Corporate Communication and Governance Affairs Manager, Cadbury West Africa,Frederick Mordi; Marketing Manager, Cadbury West Africa, Motsamai Pule; 1st prize winners, Bethel Nursery & Primary school; Managing Director, Cadbury West Africa, Yimika Adeboye; and Category Lead, Cocoa Beverage, Cadbury West Africa, Tolulope Olaoye, at the third edition of the Bourn Factor Competition award presentation ceremony, held in Lagos...recently

FirstBank, CDC/BII to Support Women, SMEs With $100m Credit Facility Kayode Tokede CDC Group, the UK Government’s development finance institution yesterday announced a $100 million finance facility to First Bank of Nigeria Limited (FirstBank).

The Chief Executive of CDC Group, Nick O’Donohoe in a statement said: “Promoting financial inclusion is a key component for advancing sweeping productive and sustainable growth across both rural and urban areas in Nigeria. This facility will channel CDC’s flexible and long-term capital toward expanding the financial solutions made available to women entrepreneurs, who are often the drivers of small business ideas and services to their communities.

“Our commitment demonstrates a deepening of British partnership with Nigeria’s businesses, as we collaborate to unlock the potential for entrepreneurial success and economic growth across the country.”

The Managing Director / Chief Executive Officer, FirstBank Adesola Adeduntan said: “Beyond the mutual benefits this partnership offers to both organisations, this transaction offers yet, another occasion for FirstBank to contribute immensely, to the United Nation Sustainable Development Goals.

“Enabling financial inclusion for SMEs has been a strategic priority for FirstBank over the last 128 years. Similarly, FirstBank has been at the forefront of financially empowering women-owned

and women-led businesses on the continent. This partnership with CDC/BII offers a fantastic opportunity to accelerate the momentum.

“At FirstBank, we remain ever committed to fostering financial inclusion, creating wealth for the underserved, enhancing access to quality education and health care, improving lives and empowering women.”

As part of the new facility, a minimum of $30 million will be allocated in the form of credit lines to women entrepreneurs.

The facility will also support FirstBank’s ‘FirstGem’ genderfocused services offering, which takes steps to promote gender inclusion by improving lending and support to female entrepreneurs.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

FirmTrain Business Managers to Upscale SMEs in Accessing Credits

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

Oluchi Chibuzor

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

As part of implementing partners on the International Labour Organization- Start and Improve Your Business. (SIYB), an isolated entrepreneurship capacity building scheme, Simply Exponential Consult Limited has conducted a train the trainers programme for business managers.

The programme, which is also supported by Ford Foundation is designed to provide business management trainers skills to train entrepreneurs, as well as enable applicants of the Nigerian Youth Investment Fund (NYIF) access finance for the sustainable development of their business ideas.

Speaking during the programme, the Founder, Simply Exponential Consult Limited, Fayo Williams, explained that the initiative

would also comprise of business management training courses to grass root entrepreneurs to help them effectively utilise the funding they acquire.

She maintained participants would gain access to markets, understand their target audience better, how to cost their products, how to pay taxes, and then contribute to the economic growth of the country’s economy.

Williams noted that, “On the aspect of the business trainers, they have been empowered with the skills to help entrepreneurs generate business ideas, analyse business ideas and select business ideas.

They are also put through various sessions in order to understand the various aspects of business, develop business plans, analyse problems that could occur in business and counsel them. As trainers they are equipped with presentation skills,

participatory methodologies as they are put through various interactive and participatory methodologies of teaching and mentoring.

“In addition, our trainers are taking through a training cycle which involves marketing, selection of the appropriate people who would gain from the SIYB programs, designing and implementing of the program after which they would follow up with the development and sustainability of the participants, “she said.

Also speaking at the event, Executive Secretary, Innovation Support Network, Nneka Ukay said that they are running the programme as part of the larger Driving Access to Financial Inclusion for Micro-entrepreneurs (DAFIM) programme for micro entrepreneurs in six states across the country which are, Abia, Adamawa, Kogi, Kaduna, Ogun, Akwa-Ibom.

Winners Emerged in Cadbury Nigeria Bournvita Bourn Factor Competition Cadbury Nigeria Plc (a subsidiary of Mondelz International), and producers of the iconic and much lovedBournvita cocoa beverage drink, has unveiled the top three winners in the third edition of its Bournvita Bourn Factor School Talent Competition.

Winners in the competition, which witnessed schools’ participation from all over the country, were announced at a media parley held at the Company’s head office in Lagos, on Monday. The grand-prizeof

N3,000,000 was presented to Bethel Nursery and Primary School from Osun State. In the second position was Excellence Nursery and Primary, Ondo State, with a prize of N2,000,000; while the third position went to Infinity International School, Ogun State with N1,000,000 prize.

At the award presentation ceremony, the Managing Director, Cadbury West Africa, Mrs. Oyeyimika Adeboye, reiterated the Company’s values and the commitment to delight consumers with its brands. “The Bourn Fac-

tor platform was created to enable children from different schools to showcase their talents, compete and win prizes for their schools, while raising money towards a social cause of their choice. We launched the first edition in 2019, with 183 schools entering the competition, ”she said.

Adeboye further added that Cadbury Bournvita had worked with winners of the Bourn Factor Talent Hunt Competition in the past to renovate their schools, set up ICT facilities, build playing grounds and provide boreholes.

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

37

T H I S D AY ˾ ˜ Ͱͱ˜ ͰͮͰͰ

NGX Inducts 133 New Authorised Dealing Clerks Kayode Tokede The Nigerian Exchange Limited (NGX) yesterday in Lagos inducted a total of 133 Authorised Dealing Clerks from 63 Trading License Holder, charging them to uphold the highest level of ethics and responsibility.

Speaking at the ceremony, the Chief Executive Officer, NGX, Mr. Temi Popoola

stated, “On behalf of the Board and Executive Management of NGX, I would like to congratulate all today’s inductees. We are indeed pleased to celebrate the successful Dealing Clerks who have passed through The Exchange’s Automated Trading System training faculty made up of seasoned capital market regulators and operators including Securities

P R I C E S MAIN BOARD

F O R DEALS

and Exchanges Commission (SEC); Chartered Institute of Stockbrokers (CIS); Association of Securities Dealing Houses of Nigeria (ASHON); Central Securities Clearing System (CSCS) Plc and Registrars.

This induction is evidence of years of dedication, adaptability, and hard work, and symbolizes your commitment to uphold the highest ethical standards and to always put

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

QUANTITY TRADED

the interest of the market first.”

Popoola also advised the new clerks to embrace the culture of continuous learning in the fast-paced environment that is the capital market saying, “As the market deepens with the launch of new products, I encourage everyone to seek for better understanding of various aspects of the capital market as well

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

as new developments. The X-Academy, our specialized learning centre is equipped to fill this gap by offering a wide range of courses geared towards bridging the knowledge gap of capital market professionals, investors and the general public, about how the capital market works. Please ensure that you maximise the opportunities presented by X-Academy to

O F

2 2

stay up to date on market developments.”

On his part, the Doyen of Stockbrokers, Rasheed Yussuf, called on the newly inducted Dealing Clerks to live up to the creed in the capital market. This, he said, would engender confidence in the capital market and lead to growth in the various Trading License Holder firms represented.

/ 0 2 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

WEDNESDAY, ͺͻ˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, February 23, 2022

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĂĚǀĂŶĐĞĚ ϵďƉƐ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ŐĂŝŶĞĚ ϵďƉƐ ƚŽ ϮϬϯϱ͘ϭϱ ŝŶĚĞdž dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ

THISDAY AFRINVEST 40 INDEX

ƉŽŝŶƚƐ ĚƵĞ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ 'd K ;нϭ͘ϯйͿ͕ & E, Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ;нϬ͘ϰйͿ͕ ĂŶĚ h ;нϭ͘ϮйͿ͘ dŽŐĞƚŚĞƌ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐͲ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

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^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

dŚĞ ƵůůƐ DĂŝŶƚĂŝŶ 'ƌŝƉ ŽŶ ƚŚĞ DĂƌŬĞƚ͘​͘​͘ ^/ ƵƉ ϯďƉƐ WƌĞǀŝŽƵƐ

ĚĂLJ͕

ƉƌŝĐĞ

ƵƉƟĐŬ

ŝŶ

,KEz&>KhZ

zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ďƵůůƐ ƐůŝŐŚƚůLJ ĞĚŐĞĚ ƚŚĞ ďĞĂƌƐ ĂƐ ƚŚĞ E'yͲ

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

^/ ŐĂŝŶĞĚ ϯďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϰϳ͕Ϯϰϲ͘ϵϬ ƉŽŝŶƚƐ͕ ĚƌŝǀĞŶ ďLJ

ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ

ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ 'd K ;нϭ͘ϯйͿ͕ h ;нϭ͘ϮйͿ͕ ĂŶĚ ^ŚĂƌĞ

Current Price

ŝŶĚĞdž

ƌŽƐĞ

ďLJ

h W ;нϮ͘ϯйͿ͘ ,ĞŶĐĞ͕ zd ƌĞƚƵƌŶ ĂĚǀĂŶĐĞĚ ƚŽ ϭϬ͘ϲй

ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ

ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐĂŝŶĞĚ േϳ͘ϬďŶ ƚŽ േϮϱ͘ϱƚŶ͘

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ

dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ

THISDAY AFRINVEST 40

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

3.5%

5.5x

0.8x

5.4%

16.4%

1.5%

199.80

0.0%

7.8%

1.4%

1.4%

134.7%

14.1%

13.6x

21.0x

70.75

0.0%

6.8%

5.5%

5.5%

19.1%

11.2%

34.0x

6.4x

26.80

1.3%

6.3%

3.1%

3.1%

24.8%

3.9%

4.1x

5.2%

7.3%

1.0x

11.2%

24.7% 27.4%

2.9%

6.0%

7.2%

7.2%

20.9%

2.8%

3.7x

0.7x

11.1%

6.4%

6.4%

40.4%

16.7%

13.6x

5.3x

5.9%

7.4%

1,435.00

0.0%

3.1%

-7.8%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

8 FBN Holdings Plc 9 Lafarge Africa PLC

11.40

0.4%

3.2%

0.0%

0.0%

8.4%

0.8%

6.7x

0.6x

3.9%

14.9%

26.40

0.0%

3.4%

10.2%

10.2%

11.6%

8.4%

9.9x

1.1x

3.8%

10.1%

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

10.30

-1.0%

2.8%

10.8%

10.8%

17.0%

1.4%

2.9x

0.5x

8.3%

34.6%

8.75

1.2%

2.2%

8.7%

8.7%

19.5%

1.8%

2.2x

0.4x

6.4%

45.5%

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

ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

hd/y ;нϵ͘ϳйͿ͕ Z' Z ;нϵ͘ϯйͿ͕ ĂŶĚ d ZE ;нϳ͘ϰйͿ͘

15.0%

31.9%

4.4%

ŵŝdžĞĚ ĂƐ Ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ ϯ ůŽƐƚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ŝŶĚĞdž

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

31.9%

Divindend Earnings Yield Yield

P/BV

0.0%

22 FCMB Group Plc 23 United Capital PLC

ƌŽƐĞ ϮďƉƐ ĂŶĚ ϭďƉ ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ

9.7% 103.5% 38.0%

P/E

0.0%

15 Ecobank Transnational Inc 16 International Brew eries PLC

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0.0%

ROA

26.95

ĂŶĚ േϱ͘ϮďŶ͘ ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

0.09%

ROE

273.50

ŝŶĐƌĞĂƐĞĚ Ϭ͘ϭй ĂŶĚ ϮϮ͘ϭй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ ϰϮϭ͘ϴŵ ƵŶŝƚƐ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

1,260.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

2035.15

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

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

26 NEM Insurance PLC 27 Presco PLC

35.10

0.3%

1.5%

-2.5%

-2.5%

15.1%

2.1%

7.9x

1.2x

11.6%

12.7%

48.00

0.0%

1.4%

-4.0%

-4.0%

7.6%

2.7%

30.1x

2.2x

3.3%

3.3%

800.00

0.0%

1.8%

23.1%

23.1%

3.4%

1.9%

18.3x

0.7x

5.1%

11.75

-1.7%

1.7%

35.1%

35.1%

2.7x

5.5% 37.0%

5.60

0.0%

1.2%

13.1%

13.1%

-10.3%

-3.9%

127.80

0.0%

0.9%

-10.0%

-10.0%

36.5%

23.3%

8.7x

2.9x

33.50

0.0%

1.1%

18.2%

18.2%

15.9%

4.5%

5.1x

0.8x

1.1x

-10.2% 11.5% 5.0%

19.5%

3.10

1.0%

0.7%

21.6%

21.6%

13.3%

1.3%

2.4x

0.3x

7.1%

42.4%

2.35

0.0%

0.5%

1.3%

1.3%

9.3%

3.0%

7.2x

0.7x

9.4%

13.8%

11.8x

8.5%

18.00

0.0%

0.5%

3.4%

3.4%

15.3%

6.3%

3.00

-0.3%

0.4%

0.3%

0.3%

10.3%

1.1%

1.8x

8.3%

0.2x

5.0%

3.0x

11.4%

13.50

2.3%

0.5%

36.4%

36.4%

70.05

-5.3%

0.6%

79.6%

79.6%

13.3%

6.0%

14.8x

1.8x

0.7%

6.8%

1.25

2.5%

0.4%

30.2%

30.2%

11.1%

2.3%

6.6x

0.7x

0.8%

15.1%

4.00

0.0%

0.3%

-11.1%

-11.1%

35.6%

18.5%

6.2x

1.0x

4.5%

16.0%

104.00

0.0%

0.3%

18.5%

18.5%

2.2x

1.0% 2.8%

28 NASCON Allied Industries PLC 29 AIICO Insurance PLC

14.50

0.0%

0.3%

9.8%

9.8%

21.3%

6.9%

13.6x

2.7x

0.67

-2.9%

0.2%

-4.3%

-4.3%

7.2%

1.1%

372.2x

0.7x

30 TotalEnergies Marketing Nigeri 31 Custodian and Allied Insurance

264.90

0.0%

0.3%

19.4%

19.4%

48.0%

9.5%

5.4x

2.2x

1.6%

18.6%

7.25

0.0%

0.2%

-8.2%

-8.2%

19.5%

5.5%

4.3x

0.8x

7.6%

23.5%

32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC

22.95

0.0%

0.2%

2.0%

2.0%

38.7%

16.0%

5.9x

2.1x

6.5%

17.0%

13.95

0.0%

0.2%

-3.8%

-3.8%

7.8%

4.9%

30.9x

1.2x

26.50

0.0%

ϭ͘ϬйͿ͘ ůƐŽ͕ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ 'h/EE ^^ ;Ͳϱ͘ϯйͿ ĂŶĚ W ;Ͳ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕

34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

0.2%

18.6%

18.6%

18.9%

2.4%

4.0x

0.8x

1.5%

25.0%

3.9%

ϰ͘ϯйͿ ĚƌĂŐŐĞĚ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ůŽǁĞƌ ďLJ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

36 Oando PLC 37 Wema Bank PLC

ϴďƉƐ͘ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ

38 Sterling Bank PLC 39 Notore Chemical Industries Ltd

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

40 Transcorp Hotels Plc

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

ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ĚŝƉƉĞĚ

ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

ϲϭďƉƐ ĂŶĚ ϰϬďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ƐĞůůŽīƐ ŝŶ // K Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ ;ͲϮ͘ϵйͿ͕ s Z/d ^< W ;Ͳϴ͘ϬйͿ͕ d/ ;Ͳϭ͘ϳйͿ͕ ĂŶĚ ^^ ;Ͳ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ KƵƚůŽŽŬ Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϭϳdž ĨƌŽŵ Ϭ͘ϮϬdž ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ Ϯϵ

ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϭϴ ĚĞĐůŝŶĞĚ ǁŚŝůĞ ϲϲ ĐůŽƐĞĚ ŇĂƚ͘ /Ŷ ƚŚĞ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ƉŽƐŝƟǀĞ ƉĞƌͲ

ĨŽƌŵĂŶĐĞ ƚŽ ůŝŶŐĞƌ ŽŶ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ĂĐƟǀŝƟĞƐ͘ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

0.0%

0.1%

8.5%

8.5%

7.1%

0.8%

7.2x

0.7x

-0.8%

0.0%

10.0%

10.0%

14.5%

2.6%

2.1x

0.3x

3.2%

0.89

2.3%

0.1%

23.6%

23.6%

14.1%

0.8%

3.9x

0.5x

4.5%

25.8%

0.0%

0.1%

9.3%

9.3%

9.4%

0.9%

2.2x

0.3x

3.0%

46.4%

62.50

0.0%

0.1%

0.0%

0.0%

-28.3%

-6.1%

5.38

0.0%

0.0%

0.0%

0.0%

2.4x

-13.8%

0.9x T o p 10 T r a d e s b y V o l u m e

P ric e

P ric e C hg %

T ic k er

LEA R N A F R C A

2.42

10.0%

UC A P

66.1

2.3%

N IGER IN S

0.22

10.0%

T R A N SC OR P

53.5

2.5%

SC OA

2.58

9.8%

Z EN IT H B A N K

51.6

0.0%

C UT IX

2.84

9.7%

F ID ELIT YB K

44.4

1.0%

M A YB A KER

5.00

9.6%

A C C ESS

26.8

-1.0%

R OYA LEX

1.04

9.5%

UB A

19.9

1.2%

B ER GER

8.25

9.3%

R EGA LIN S

15.7

-2.6%

A F R IP R UD

12.7

4.7%

UN IVIN SUR E

10.2

0.0%

9.2

1.3%

T ic k er

R T B R ISC OE

0.72

9.1%

ET ER N A

5.80

7.4%

P H A R M D EKO

1.96

6.5%

ELLA H LA KES VER IT A SKA P C OUR T VILLE GUIN N ESS

P ric e 3.83 0.23

Vo lum e

GT C O

P ric e C hg %

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

T o p 10 L o s e r s T ic k er

13.9% 47.8%

1.65

T o p 10 G a in e r s

< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

6.40 4.86

7.3% 0.3%

P ric e C hg % -9.9% -8.0%

0.51

-5.6%

70.05

-5.3%

N EIM ET H

1.80

-4.8%

PZ

6.70

-4.3%

SOVR EN IN S

0.24

-4.0%

A IIC O

0.67

-2.9%

R EGA LIN S

0.38

-2.6%

UN IT YB N K

0.50

-2.0%

T ic k er

Value

P ric e C hg %

Z EN IT H B A N K

1392.0

0.0%

UC A P

889.2

2.3%

SEP LA T

775.5

0.0%

A C C ESS

278.0

-1.0%

M TNN

249.0

0.0%

GT C O

246.7

1.3%

UB A

174.2

1.2%

F ID ELIT YB K

137.7

1.0%

N GXGR OUP

100.5

-0.4%

A F R IP R UD

100.0

4.7%

39

WEDNESDAY, FEBRUARY 23, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 21Feb-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 177.07 178.22 6.10% Afrinvest Plutus Fund 100.00 100.00 9.03% Nigeria International Debt Fund 308.90 308.90 -0.05% Afrinvest Dollar Fund 95.07 96.22 -3.40% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.71% AIICO Balanced Fund 3.59 3.66 1.49% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.89% Anchoria Equity Fund 146.27 148.11 5.16% Anchoria Fixed Income Fund 1.19 1.19 3.83% 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 21.02 21.65 3.61% ARM Discovery Balanced Fund 474.47 488.77 5.17% ARM Ethical Fund 39.88 41.09 2.38% ARM Eurobond Fund ($) 1.07 1.08 -0.63% ARM Fixed Income Fund 1.02 1.02 0.74% ARM Money Market Fund 1.00 1.00 7.96% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.87 108.87 7.04% AVA GAM Fixed Income Dollar Naira 1,080.39 1,080.39 8.04% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.08 2.08 9.81% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.27 2.32 31.06% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.17% Paramount Equity Fund 18.49 18.81 9.84% Women's Investment Fund 146.31 147.88 5.18% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.86% Cordros Milestone Fund 139.22 140.14 5.32% Cordros Dollar Fund ($) 111.20 111.20 0.69% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 6.38% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 6.57% EDC Nigeria Fixed Income Fund 1,146.70 1,151.12 -1.90% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.50% Emerging Africa Bond Fund 1.01 1.01 5.17% Emerging Africa Balanced Diversity Fund 1.05 1.05 15.25% Emerging Africa Eurobond Fund 101.37 101.37 3.31% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,416.48 1,416.48 10.88% FBN Balanced Fund 182.31 183.68 4.02% FBN Halal Fund 117.10 117.10 8.86% FBN Money Market Fund 100.00 100.00 8.65% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund FSDH Dollar Fund

122.78 155.17

122.78 3.91% 157.20 2.95% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.81 1.21

Offer Price Yield / T-Rtn 1.00 7.50% 3.98 -0.51% 1.85 4.38% 1.21 0.62% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

N/A

N/A

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

N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 6.83% Vantage Balanced Fund 2.91 2.97 1.78% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.70 142.75 -8.30% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 1.91% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 4.20% 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 1.56 1.58 3.29% Lotus Halal Fixed Income Fund 1,153.98 1,153.98 1.51% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.46 12.56 5.71% Meristem Money Market Fund 10.00 10.00 8.52% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.20 101.20 8.91% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.23% 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 1.64 1.66 1.86% PACAM Fixed Income Fund 11.59 11.58 3.53% PACAM Money Market Fund 10.00 10.00 7.54% PACAM Equity Fund 1.52 1.54 5.37% PACAM EuroBond Fund 115.13 117.56 -0.09% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.12 132.74 8.50% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.08 1.08 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,523.93 3,561.03 2.33% Stanbic IBTC Bond Fund 236.58 236.58 0.36% Stanbic IBTC Ethical Fund 1.33 1.35 3.08% Stanbic IBTC Guaranteed Investment Fund 315.64 315.64 0.73% Stanbic IBTC Iman Fund 245.90 249.50 1.56% Stanbic IBTC Money Market Fund 100.00 100.00 6.07% Stanbic IBTC Nigerian Equity Fund 11,303.09 11,461.68 1.74% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.62% Stanbic IBTC Shariah Fixed Income Fund 117.49 117.49 0.44% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.66 107.66 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.97 0.99 4.44% United Capital Balanced Fund 1.41 1.43 3.79% United Capital Wealth for Women Fund 1.14 1.16 4.68% United Capital Sukuk Fund 1.08 1.08 1.09% United Capital Fixed Income Fund 1.98 1.98 1.01% United Capital Eurobond Fund 123.26 123.26 0.76% United Capital Money Market Fund 1.00 1.00 8.37% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.41 13.53 1.69% Zenith ESG Impact Fund 15.32 15.49 4.89% Zenith Income Fund 22.27 22.27 1.29% Zenith Money Market Fund 1.00 1.00 6.55%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

14.10 135.84 107.05 19.70 23.14

14.20 139.24 109.41 19.80 23.24

0.95% 3.21% 3.31% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.48 5.90 18.59 1.00 21.21 163.72

4.58 6.00 18.79 1.00 21.41 165.72

18.92% 15.72% 8.14% N/A 9.36% 3.75%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

40

T H I S D AY ˾ WEDNESDAY FEBRUARY 23, 2022

CITYSTRINGS

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

Knighthood as Service to Mankind For Sir Charles Mbelede, who was recently exalted to a Supreme Knight of St. Mulumba, Nigeria, knighthood should be seen by all as a service to God and mankind. Precious Ugwuzor reports

Sir Mbelede and wife

I

t was all joy all recently at the premises of the Nigerian Council of Registered Insurance Brokers (NCRIB), Yaba, Lagos, as Sir Charles Mbelede was celebrated for his exaltation to Supreme Knight of St. Mulumba, Nigeria.

Friends, family and Catholic knights and ladies in their colourful regalia gathered to celebrate Mbelede, who they described as a round peg in a round hole.

The event, a thanksgiving Mass and grand reception, was organised by the Lagos and Surulere sub-councils to celebrate him as the Supreme Knight of St. Mulumba.

Mbelede, who was visibly elated, did not disappoint well-wishers who poured encomiums on him for his many good deeds and outstanding personality. He took to the dance floor, praising God for his mercy, as he displayed rhythm and grace on nimble feet.

The celebration started with a Mass at St. Dominic’s Catholic Church, Yaba, where Rev. Fr. Richard Odok admonished Mbelede to use his position to serve his brothers and humanity in general. At the Mass, the church prayed for blessings for the man of the day, who was described as a goldfish with no hiding place.

After dining and wining, Mbelede made a passionate appeal to Nigerians to shun crime and criminality, saying all hands must be on deck to bring back Nigeria to the enviable position of its past.

The Supreme Knight also called on parents to step into the shoes of Jesus Christ, who condemned the evil in the world during his short stay with mankind and condemned crime without minding whose ox was gored.

His words, “What is happening in Nigeria today is becoming too embarrassing, and parents should begin to monitor their children. How come parents now welcome all sorts of gifts from their children without asking the source of the gifts?

"The society, especially parents, should stop celebrating youths who suddenly become rich overnight. You should stop celebrating wealth that you don’t know the source, in order to curb the rising level of ritual killings in the country.”

Mbelede condemned the spate of killings and harvesting of body parts among desperate youths, and he advised them to be level-headed and law-abiding because money is not everything: “Ritual killing is giving Nigeria a bad image and, to repair the damaged image of the country, it must start from families. " If I train my children well and teach them the way of God and the fear of God, and everybody stands firm to condemn evil, the larger society will be better. But when you close your eyes and accept everything that your children do, the family will continue to be rotten. We need to change the narrative by questioning

The new knight with members of the clergy after his knighthood our children and siblings on the source of their wealth and reject money that we don't know the source.

“In order to counter the challenges of crime among youths, government must plan to tackle unemployment that the country is facing. Government must plan and ensure that there is good standard of living among the citizens.

"There should be plans for massive employment for the youths. If our children are gainfully employed, the rate of crime, especially ritual killings, robbery, banditry and kidnapping will reduce drastically, because they will no longer be tools in the hands of unscrupulous people and the devil. I am telling you the truth, an idle mind is the devil's workshop.

“That is why we, knights, are to share our time, treasury and talents for the betterment of mankind, to the glory of God. In a contemporary Nigerian society, we are faced with a lot of hassles. The knight is to protect the faith, the church and the less privileged. Right now, we are building houses for underprivileged widows,

irrespective of creed, tribe or religion.

Thus far, we have built 25 bungalows for widows. We also fight crimes and all forms of illegality, no matter how highly places the person involved may be. We fight crimes through advocacy.

“We start to evangelise from basic principles to final set-ups, and the idea is to reach as many people as possible. We have nine metropolitan councils spread across the country. We have 280 sub-councils and we are 22,000 members strong, with our brothers and sisters spread across the length of the country. We do a lot of evangelisation.

"In Lagos, we have a house that we called Hosanna House, built for destitute girls who got pregnant. Instead of allowing them to have abortion, we house them and nurture them from pregnancy till delivery and we set them up in a trade. We are doing this irrespective of their creeds; we are the voice of the voiceless.

“In my four-year tenure, our target is to bring the 21st century trend into knighthood across Nigeria through spirituality, profes-

"That is why we, knights, are to share our time, treasury and talents for the betterment of mankind, to the glory of God...The knight is to protect the faith, the church and the less privileged"

sionalism, sharing of treaties and continuous assistance and evangelisation for the betterment of mankind.”

The Supreme Knight called on other groups and associations to help the needy, especially orphans, widows and the destitute. He said, “If we help the needy, the crime rate will reduce drastically. Parents should not be too harsh on female children who make the mistake of unwanted pregnancy.

"It is not as if we are encouraging premarital sex, but when parents chase away children with unwanted pregnancy, they are compounding the problem for the girl child. She may be forced to commit abortion, which is a big sin, and it may damage the child's womb and the lady may die in the process.

“That is why we are preaching forgiveness, and the Catholic Church, as you know, condemns abortion. Every unborn child has the same right to live and no one knows what the unborn child will become in the future.”

Earlier at the thanksgiving Mass, Rev. Fr. Odok admonished Mbelede, saying his elevation was God’s grace at work: “We thank God for the life of our father. It does not mean that he is the most qualified, but God chose him.

We appreciate God for the gift and knowledge he has given to you, but it must be clear to everyone that he still needs your advice, support and contributions.

“Have it at the back of your mind that your Supreme Knighthood does not indicate that you know it all. Give responsibility to those who you think can handle it.

“Also, be conscious of the difficulties and challenges that come with such a position. We pray for you, that your faith will be strengthened and, after you are strengthened, you also will strengthen your brothers.”

Sir Williams Adebisi, the immediate past chairman of the Lagos Council of the Knights, said, Lagos Metro Council has been blessed in diverse ways because various talents have emerged from there.

"We thank God for the gift of this new Supreme Knight. He is the first to emerge from the Lagos Metro. The Lagos Metro has gone through a lot to have a knight, but as God so made it, our new SK won unopposed. He needs our prayer to lead the members; it is my prayer that the good Lord will strengthen him and guide him aright to lead.”

Mr. Okechukwu Okafor, chairman of the event’s organising committee, described Mbelede's elevation as one of the best things that have happened to the council.

He said Mbelede is the epitome of success, an encyclopedia of knowledge and wisdom, who would help the organisation progress beyond most peoples' expectations.

T H I S D AY ˾ WEDNESDAY FEBRUARY 23, 2022

41

CRIME&SECURITY

Cleric Sets up Foundation for Police Officers' Children, Wives To honor the two outstanding persons that have shaped his life and that of his siblings, founder, Flaming Sword Ministries, Bishop Adebayo Babalola recently set up a foundation to cater mainly for the police officers' children whose fathers died during active service and by extension cater for their wives too. Writes Mary Nnah

T

he family Thanksgiving Service held at the auditorium of the Flaming Sword Ministries, Lagos Island, was in honour of late Pa James Babatunde Babalola and his wife, Oyeyemi.

It was their 50th year remembrance and founder of Flaming Sword Ministries, Lagos Island, Bishop Adebayo Babalola, one of their children who felt they have been instrumental for his growth and that of his siblings, deemed it fit for them to establish a foundation to immortalise his parents.

"We have decided to start a foundation in honour of our late parents that will be known as Heroes Foundation", adding further that the foundation will cater for any military or paramilitary officer's children that suffer abandonment.

The foundation he explained further will focus on children of officers who have been deprived of their rights due the death of their fathers who once served the nation one way or the other.

Speaking on the inspiration behind a foundation of such, Babalola, who revealed that his late father was equally a police officer who was, "brutally murdered by his orderly through an internal collaborator while he was on official duty", consequent upon this, his mother was abandoned by the police force to struggle with life and the children the late Babalola left behind.

Lamenting further, he said, "It is with deep regret that our father worked effectively and diligently without a stain, promoting the image of the Police Force locally and internationally but was rewarded by getting killed on January 26, 1971 by those threatened by his rising profile and his family was abandoned."

The cleric alleged further that their mother was left to struggle with life and the children his left father left behind and that even though the woman's struggle with her children was successful, it took a toll on her, so much that she died in the process and never lived long to enjoy the fruit of her labour.

"Our father must have had an insight to have married his heartthrob, Oyeyemi, because after papa's death, the indefatigable wife took over the building of the Babalola family consequent upon the realisation of the fraud and dishonesty in the process of the police to take care her children who were underage as at the time the officer was brutally murdered. She became an

Bishop Babalola with friends and family at the event emergency trader spanning Kano, Enugu, and Lagos."

The cleric said the purported promises by the Nigeria Police Force were void, adding, "What a shame! All the promises made by the Nigerian Police Force were not met."

Babaloal who expressed the fear that the same ill-fated action meted on his mother and her children, may also be the experience of children and wives of most police officers who died on active service, added, "we are sure that the same unfulfilled promises are still going on in the Nigeria Police Force, which is very sad and unfortunate".

He averred that the experience his family went through after their father's death prompted the establishment of the Heroes Foundation, which will cater for military and paramilitary officers` children, especially the police who are going through the same experience they did.

Recalling his experience as a child after his father was allegedly assassinated, he said, "I was 12 years, that's about 50 years ago and in form 2 when father died. I was used to my parents paying school fees promptly and going to school in a

private car. And then suddenly, I had to be entering public buses and then those whom our wellbeing was entrusted in their hands were refusing to pay my school fees.

"The Nigeria Police didn't fulfill their promise because if you are killed on duty as a police officer, it is the duty of the police to take care of your children and wife, which you left behind but the police refused to, even when they had promised to.

"The first time I cried so bitterly was when I was publicly disgraced at school just because I couldn't pay my school fees. I didn't weep when my father died but there I wept like never before. I then said I will never allow anyone to weep like I did", he added.

Speaking on his desire to alleviate the pains of the oppressed and less privileged through his Heroes foundation, the retired Assistant Director General of the State Security Service (SSS) said, "It's my money and I could have used it to gone to London for holidays but I decided to spend it to wipe away tears from people's eyes and by the time we have trained someone who is hopeless

you have strengthen the nation. " I was only lucky or else I would have turned out to be a miscreant or an armed robber and you can imagine the kind of armed robber I would have been with my kind of intelligence and bravery."

Asked why he was just opening up on the ill-mannered treatment his family suffered from the Nigeria Police Force 50 years after, Babalola said, "I couldn't have brought it up before now because I was young. And when I became an adult, I joined SSS and soon after I joined, I became an assistant director general of the SSS. So, you can't be in the SSS and be criticising the police. I am now a retired Assistant Director General of the SSS, so I can now speak", adding, "What can I do again at this level if I don't speak the truth".

Speaking further he said, "Secondly, 50 years is a diamond and a good time to remember an incident, take a lesson from it and then move on. And again, I did not have money to do this but now, I have enough friends that can pump money into the foundation and some of them have started pledging large sums of money. " The cleric believes that talking about the gruesome murder of his father at this time would bring about a lot of positive impact on the police force and the nation as a whole.

"When there is a development in a nation, do not expect that it comes from the top, it has to come from the grassroots. So saying it out now and spending my own money to uplift other people's lives will bring about a change and development in our society,` he said.

"Usually when a policeman`s wife dies, she is victimised and denied her rights as an officer's wife. So speaking out now will solve a whole lot of problems and right now I have a lot of friends that are ready to put in their money, voice and good will to stop the ills meted on the police officers wives and their children."

On the workings of the foundation, he said, "We are just setting out with a foundational prayer today and after this we will bring in structures and then employ the appropriate people to run the organisation."

The foundation, he emphasised, would focus on children of paramilitary, police and army whose children are deprived of their rights and privileges.

One Woman Bashing and Dehumanisation Too Many Simeso Amachree

I

viewed with total consternation a video clip that has been trending online within the last couple of days, wherein a young lady, evidently of Igbo extraction from the eastern part of Nigeria (since she and her assailants spoke Igbo), was seen forcefully held still on the ground and viciously beaten by a group of men said to be her father and brothers.

I do not know the lady, but estimate her age to be between 21 and 30 years.

She had been stripped completely naked, and the crime weapon was strong gas hose which left countless distinct welts all over her body, especially her buttocks. I refrain from attaching the clip here for obvious reasons. Her alleged offence? She posted an erotic video of herself virtually nude online.

It is absolutely wrong, unjustified, inhumane and condemnable the way that lady was grossly maltreated. Pure physical and emotional abuse.

Her father and brothers are neither the law nor courts of justice, and have no lawful authority to do what they did to her. Even the loftiest traditional and cultural prescriptions and standards of "discipline and correction" are no excuse for such wickedness.

Having failed to raise her well while she was a minor and within their charge, they cannot assume to exercise any forceful authority over her now that she is an

IG Usman Baba adult with full rights to live as she pleases within the ambits of the law. Their only lawful recourse should have been moral cum religious persuasion.

Pray, did she do anything different than is done by some of the girls her father and brothers chase and lust after? Which of those males can sincerely claim to have never done any (possibly worse) unholy or immoral thing?

If she were a guy and not a girl,

would they feel at liberty to bully and manhandle her?

Some things are just not right. Here are the very same persons who should protect the lady (their daughter/sister) from the rest of the world, but chose rather to be her tormentors-in-chief. With their likes who needs a father or brother?

A truly callous bunch, it is obvious that they derived great pleasure from their action.

How else does one explain the fact that they filmed the incident (showing the lady nude and being brutalised) and published the video? Is that the way to correct a loved one or anyone for that matter? What sane person does that to his daughter or sister?

One even gets the impression that brutalising her was a self-righteous ego trip.

Like it made them feel less guilty for their own respective immoralities and sins, e.g. (perhaps) spurring and encouraging other people's daughters/sisters to be loose (like their daughter/sister portrayed herself to be) and taking advantage of them. Feeling like they have now somewhat recompensed and done God a good one at least for their own failings.

The victim in this macabre dance would do well to ruthlessly and uncompromisingly sue all her assailants for everything they've got, including their darned boxers.

The fact that they are her relations and family should count for nothing in this instance, in view of their gross insensitivity.

(Their contrived deafness to her cries and desperate pleas for mercy is particularly instructive). She would be doing society a much needed favour making them pay the price, and deserves the support of all conscientious persons in that wise.

It would be hugely disappointing if human and gender rights advocacy groups don't promptly identify and reach the lady, diligently take up and champion her cause, and aid her to attain comprehensive justice.

Neglect or failure to do so would essentially belie all their claims to seriousness.

The police too should demonstrate utmost sense of duty and responsibility by, on their own, arresting those hypocrites who subjected the lady to such pain and torture, and make them face the full wrath of the law for assault and battery, etc.

The culprits must be brought to book immediately lest persons of like mind take inglorious cue from their dastardly acts and make it common practice to kick, brutalise and dehumanise every girl/woman at the slightest of excuses. No society can afford the dire, unhealthy consequences of such ill wind. The case in point is already one woman bashing and dehumanisation too many.

-Amachree is a former Acting Secretary General of Trade Union Congress of Nigeria (TUC), and Managing Director of Datawise Consult. He wrote in from Port Harcourt.

T H I S D AY ˾ WEDNESDAY FEBRUARY 23, 2022

42

FEATURES

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

Leveraging STEM to Create Innovative Solutions InterswitchSPAK highlights importance of STEM Education in Africa and how leveraging it can create innovative solutions, Chiamaka Ozulumba reports

L-R: Hamza Kamarudin, second-place winner; Mitchell Elegbe, MD/Founder, Interswitch Group; Carl Mwangi, winner; and Ignatius Suswa, third-place winner, at the grand finale of the InterswitchSPAK 2.0 competition in Kenya, recently

Jubril Dokun, winner of the N7.5 million scholarship in the Nigerian version of InterswitchSPAK 3.0 competition recently

R-L: Mitchell Elegbe, GMD/Founder, Interswitch Group and Carl Mwangi, winner, at the grand finale of InterswitchSPAK 2.0 Kenya

E

of the top reasons for creating the show was a genuine concern at the depreciating interest in STEM by students, and the desire to promote ‘sound education in Africa’, empowering young Africans to make career decisions along the line of STEM. It also highlighted the importance of these subjects in the development of lives on the continent.

To inspire more African students, the InterswitchSPAK National Science Competition was expanded to Kenya, where it has, to date, run for two seasons, alongside the show in Nigeria, which has had three successful seasons.

While the show's values remain the same, the formats vary. In Kenya, the top 500 students are selected from across the country and the best 54 students advance to the next stage of the competition. The winner receives, in scholarships, 1.5 million Kenyan shillings, while the second and third

xtensive conversations in different spheres, and on various media channels have culminated in a consensus - that Science, Technology, Engineering, and Mathematics (STEM) play an integral role in economic growth, both regionally and globally; and given current trends, especially in the field of technology, one cannot but recognise the truth in this belief.

By harnessing the power of technology, communication has become democratised and the world has come to be described as one big global village.

Through advancements in science, new medical solutions are developed to address various medical issues, ranging from mild to severe conditions. Engineering, on the other hand, leverages other aspects of STEM and creates innovative solutions among other useful infrastructure.

Finally, mathematics also serves us with knowledge useful in understanding the workings of economies, delivering insights to players in the world of Information and Communications Technology (ICT). Basically, these subject areas work hand-in-hand to produce life-changing innovations useful in today's world.

Recognising and championing this reality is Africa's leading integrated payments and digital commerce company, Interswitch, which, through its Switch-a-Future initiative, created the National Science Competition dubbed, 'InterswitchSPAK' designed to encourage

the uptake of STEM courses by students in Nigeria and other African regions.

During the competition, students between 14 and 17 years old, who are full-time secondary school students, are required to participate in a national qualifying examination, after which the best 81 students are selected to partake in the second stage of the competition - the TV Quiz programme.

The students are tested based on their Speed, Precision, Accuracy, and Knowledge – or SPAK for short. At the end of the show, the top three contestants are presented with scholarships spread over a stipulated period, among other exciting gifts like laptops.

Interswitch has stated that one

"To ensure that the current crop of young Africans is not left behind in the race to leverage STEM in forging change, the InterswitchSPAK initiative was introduced to advance the study of STEM and incentivise these students, equipping them with the needed tools to design the blueprint that will ultimately change the narrative of the African continent"

place winner receive 750,000 and 150,000 Kenyan shillings respectively.

There is no doubt that the evolving challenges faced by Africans, and their counterparts globally, have been resiliently tackled by solutions brought about by individuals and organizations in the STEM field. We remain witnesses of the geniuses manifested in many of the products created

by STEM. To ensure that the current crop of young Africans is not left behind in the race to leverage STEM in forging change, the InterswitchSPAK initiative was introduced to advance the study of STEM and incentivise these students, equipping them with the needed tools to design the blueprint that will ultimately change the narrative of the African continent.

The need for increased penetration of STEM studies in Africa cannot be overlooked, as experts worry about the shortage of a skilled labor force to fill vacant positions in STEM-related professions. It is believed that through concerted efforts to apply the knowledge of STEM, Africa is positioned to experience sustainable growth.

While the buck stops at the table of regulators to encourage an increased uptake of STEM courses by creating awareness across schools, other private corporations can also step in and play supportive roles in passing this important message, a move already taken by Interswitch, as it seeks to switch the future of Africa and its inhabitants.

43

WEDNESDAY, ͺͻ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

AT MURTALA MUHAMMED FOUNDATION ANNUAL LECTURE...

L-R: Chairman, Northern Governors’ Forum/Plateau State Governor, Solomon Lalong; widow of the late General Murtala Mohammed, Mrs Ajoke Muhammed; Ondo State Governor, Rotimi Akeredolu (SAN); Founder/CEO Murtala Mohammed Foundation, Mrs Aisha Oyebode; and Keynote Speaker/, Ekiti State Governor, Dr Kayode Fayemi; at the 2022 Murtala Muhammed Foundation annual lecture at the Yar’adua Centre, Abuja…. on Monday

N450m Bribe: Ex-minister, Sarah Ochekpe, Two Others Sentenced to Six Years in Prison

Kingsley Nwezeh in Abuja

A former Minister of Water Resources, Mrs. Serah Ochekpe, and two others were yesterday sentenced to six years in prison by a Federal High Court sitting in Jos. Ochekpe served under the administration of former President

Goodluck Jonathan.

In a statement issued in Abuja, the Economic and Financial Crimes Commission (EFCC), Gombe Zonal Command, stated that it secured the conviction of Ochekpe and two others - Evan Leo Sunday Jitong and Raymond Dabo, Deputy Director of Goodluck/

Sambo 2015 election campaign and former Acting Chairman of PDP, Plateau State respectively.

The trio were convicted and sentenced to six years imprisonment each by Justice H. M. Kurya of the Federal High Court, Jos, Plateau State, on an amended three - count charge bordering on conspiracy and money laundering.

They were alleged to have received the sum of N450 million from Fidelity Bank Plc through cash and wire transfer by some oil companies and former Petroleum Resources Minister, Diezani Alison-Madueke, to influence the outcome of the 2015 presidential election.

The EFCC statement stated

Court Grants NDLEA’s Request to Detain DCP Abba Kyari, Six Others for Two weeks Michael Olugbode and Alex Enumah in Abuja A Federal High Court sitting in Abuja and presided over by Justice Zainab Dimka Abubakar has granted an application by the National Drug Law Enforcement Agency (NDLEA) to detain for two weeks, the embattled Deputy Commissioner of Police (DCP) Abba Kyari and six others under investigation for their involvement in a 25 kilogrammes cocaine deal.

The court gave the order following the application by the anti-narcotic agency, which was yesterday argued by its Director of Prosecution and Legal Services, Mr. Sunday Joseph.

The agency had in the application dated February 15, 2022, in suit number FHC/ABJ/CS/111/2022

sought the leave of the court to detain the suspects in NDLEA custody for 14 days pending the conclusion of investigation.

Suspects affected by the order included: Kyari; ACP Sunday Ubia; ASP James Bawa; Inspector Simon Agirigba; Inspector John Nuhu; Chibunna Patrick Umeibe and Emeka Ezenwanne.

In an affidavit supporting the motion, the NDLEA stated that the sixth and seventh respondents (Umeibe and Ezenwanne) confessed upon their arrest in Enugu that they imported the seized cocaine through Addis-Ababa to Enugu on January 19, 2022.

It further disclosed that, “the first to fifth respondents (Kyari, Ubia, Bawa, Agirigba and Nuhu) are police officers who carried out the arrest of the sixth and seventh

respondents and transferred them to NDLEA for further investigation.

“That investigation by the NDLEA revealed that the first to fifth respondents have compromised the whole operation and were involved in the importation, trafficking, and dealing and also tampered with the recovered cocaine.

“That the first to fifth respondents have volunteered their statements upon preliminary investigation, which has shown complicity in the case. Copies of statements are hereby attached and marked Annexure NDLEA 4,5,6,7,8, & 9 respectively.

“That the investigation will take some time as there are complicated dimensions of the case that require follow-up and unravelling. That the investigation is likely to extend to foreign countries, where some

people linked to this trans-national drug trafficking activity reside.

“That it is in line with the above that the Applicant is applying to the Honourable Court for a period of 14 days in the first instance to detain the respondents to enable it carry out its investigation successfully.”

In her ruling, Justice Zainab Dimka Abubakar granted the NDLEA’s prayer and directed that the agency should at the expiration of the 14 days detention order either seek an extension, file a charge against the suspects or arraign them before the court.

Kyari and the four other police officers were arrested and handed over to NDLEA on February 14, 2022, by police authorities, five hours after the agency had declared him wanted in connection with the drug deal.

NACA Targets End to Mother-to-Child HIV Transmission Soon no babies will be born HIV positive in Nigeria Onyebuchi Ezigbo in Abuja The National Agency for the Control of AIDS (NACA) has expressed a commitment to arresting the incidence of mother-to-child transmission of HIV (PMTCT) by the end of the year.

Director-General of NACA, Dr. Gambo Aliyu, made the pledge yesterday at the maiden edition of the NACA Day celebration.

He said Nigeria was on the verge of achieving UNAID’S programmatic indicators for epidemic control due to tremendous growth in our programs over the last six years.

"This year, we expect a tremendous growth in our programme for prevention of mother-to-child transmission of HIV (PMTCT) as

we take key steps towards ensuring no child is born HIV positive in Nigeria," he stated.

According to Aliyu, February 22 each year provides an opportunity for reflection on the successes of the national response, including communities, partners, and stakeholders and renewing our commitments to end AIDS. "Our strategies in programme alignment by all stakeholders, service integration at community levels and strong political support at all levels made our national response the most COVID-19 resilient in the world with the highest yield at the peak of the COVID-19 pandemic," the NACA boss explained.

He further stressed the need to

end "all forms" of inequality and leave no one behind to ensure inclusive implementation of "our programmes at community levels if we must sustain the gains made in the last six years."

While congratulating NACA for its achievements in the national HIV response coordination, the Secretary to the Government of the Federation, Mr. Boss Mustapha, emphasised the need for building partnerships and the harmonisation of programmes for greater impact.

He urged state governments to partner NACA to develop a sustainability framework for the national HIV response.

Mustapha listed a landmark HIV survey (which showed fewer Nigerians were living with HIV)

and the most likely geographic locations to find them, identifying and placing more than one million persons living with HIV on treatment within the last six years as notable milestones by NACA under the current administration.

He also mentioned that President Muhammadu Buhari recently launched a private sector-led HIV Trust Fund of Nigeria.

In his goodwill message, NACA's board chairman, Senator Oladipo Odujinrin, stated that the agency was committed to fulfilling its mandate of ensuring an HIV-free Nigeria.

NACA was established by an act of the National Assembly on February 22, 2007, to help combat HIV-AIDS.

that investigation showed that on March 26, 2015, the sum of N450 million was withdrawn from the Central Bank of Nigeria (CBN) by Fidelity Bank Plc’s Jos main branch and it was handed over to the defendants in cash after they signed for collection.

Though the defendants claimed that they handed over the money to late Senator Gyang Pwajok, the Plateau State PDP Governorship candidate in 2015, they however failed to provide any evidence to support the claim.

Count one of the charge read: "That you, Sarah Ringim Ochekpe, Evan Leo Sunday Jitong, Raymond Dabo sometime in March, 2015 at Jos, Plateau state of Nigeria within the Jurisdiction of this Honourable Court, without going through the financial institution, did conspire amongst yourselves to accept cash payment of the sum of N450,000,000 from one Annet Oligye Gyen, Head of Operations,

Jos branch of Fidelity Bank Plc which sum exceeded the amount authorised by law and thereby committed an offence contrary to the provisions of Section 18 (a), Section 16 (1) (d) of the Money Laundering (prohibition) Act 2012 (as amended) and Punishable under Section 16 (2) (b) of the same Act.” The defendants were convicted on count one, bordering on conspiracy to accept cash payment above threshold under the Money Laundering Prohibition Act, 2012 (as amended) and sentenced to three years imprisonment with an option of N2,000,000 fine each.

On count two, the defendants were convicted and sentenced to three years imprisonment with an option of N2, 000,000 fine each.

The sentences are to run consecutively.

The court discharged and acquitted them on count three which borders on retention of funds.

Osinbajo Hails Latter-Day Saints' Social Work, Others in Nigeria Receives member of church's Quorum of 12 Apostles Vice President Yemi Osinbajo has commended The Church of Jesus Christ of Latter-Day Saints, for its social service works in the area of clean water, immunization, and several other things.

He gave the commendation at the Presidential Villa, Abuja, when he received a delegation from the Church led by a member of the Quorum of 12 Apostles, Elder D. Todd Christofferson, who came in from the church's headquarters in Salt Lake, Utah, United States of America.

According to a statement by Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, Osinbajo said: “For faith-based organisations, it is an article of faith that you must contribute to the development of society.”

The Vice President urged faith-based organisations to speak more for the unity of the country and peaceful coexistence among Nigerians.

“I appreciate the social service

works that the church (i.e The Church of Jesus Christ of LatterDay Saints) is doing in the area of clean water, immunization, and several other things. For faith-based organisations, it is an article of faith that you must contribute to the development of society.

“We need to also speak a bit more about the unity of men and women across the country regardless of their faith and ethnicity. We are at a time in our country where this message is very important. The message of unity, the message of saying that nations are built around people who believe in God and those who do not.”

On his part, Elder Christofferson, who was accompanied by his wife and other church leaders and their spouses from within and outside Nigeria, commended the efforts of the Vice President in fostering unity and peaceful coexistence among Nigerians and noted that the church in Nigeria would continue to contribute to the growth and development aside preaching unity among citizens.

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NEWS

SIGN THE BILL NOW...

A coalition of civil society of Nigeria demanded the President to sign electoral amendment bill into law with immediate effect, in Abuja ...yesterday.

PHOTO: AYO AJAYI

Civil Society Groups Protest against Buhari's Delay to Sign Electoral Bill Olawale Ajimotokan in Abuja The Coalition of Civil Society Organisations in Nigeria (CSOs) yesterday protested in Abuja against President Muhammadu Buhari's failure to assent to the Electoral Act (Amendment) Bill 2022.

The CSOs staged the protest at the Unity Fountain, Maitama in Abuja and were joined by people living with disabilities. The peaceful protest was led by the Executive Director of Civil Society Legislative Advocacy Centre (CISLAC), Auwal Rafsanjani, the CSOs Situation Room Leader, Amaka Obi, and Executive Director of Yiaga Africa, Samson Itodo.

They carried different banners with inscriptions 'President Muhammadu Buhari make history sign the electoral bill now!', '#sign the

electoral bill now!', 'President Buhari, sign the Electoral Bill now', 'Prevent electoral rigging', 'No bill, no electronic transmission of results, #sign the electoral bill'.

They urged Buhari to expedite the bill's signing to allow the Independent National Electoral Commission (INEC) to release the notice of elections exactly 360 days before the 2023 elections in compliance with the provisions of the bill.

Speaking at the protest, Rafsanjani said the CSOs expected the president to fulfil his promises and sign the bill.

“It will no longer be a moneybag election. Politicians will no longer truncate the election. We are urging Buhari to sign the electoral bill now before the time frame expires. It is our hope that Buhari will sign,”

Senate Demands Rehabilitation of Federal Roads as Air Fare Soars FG to declare state of emergency on roads

Sunday Aborisade in Abuja The Senate yesterday lamented the deplorable state of federal roads in the country and called on the federal government to as a matter of urgency commence their immediate rehabilitation The red chamber also asked the President Muhammadu Buhari-led central government to declare a state of emergency on the nation’s federal roads.

The upper chamber, equally asked the federal government to immediately settle its indebtedness to the Federal Roads Maintenance Agency (FERMA). It noted that paying money owed FERMA, would make the agency to carry out its primary responsibility of rehabilitating federal roads, especially in the face of the astronomical increase in airfares.

These were resolutions reached yesterday by the Senate, following a point of order raised to draw its attention to the increase in airfare and the implication for Nigerian roads.

The Chairman, Senate Committee on FERMA, Senator Gershom Bassey, raised the point of order at plenary.

He lamented that local airfares in Nigeria have risen by 63 per

cent in response to a spike in the price of aviation fuel and attendant cost of operation.

He said the rise in airfare had pegged the minimum Economy Class ticket at around N80,000 for travellers buying a one-hour, oneway economy tickets.

He expressed worry that the increase in airfares would increase the pressure on the neglected and dilapidated Nigerian roads and further worsen their state.

The lawmaker noted that FERMA had a budgetary approval of just 20 per cent of the funds the agency requires for the rehabilitation of about 35,000km of federal roads in 2022.

Bassey observed that the federal government had yet to pay the sum of about N850 billion that was to accrue to FERMA by virtue of the five per cent user charge on pump price of petrol, diesel and international vehicle transit charges provided for in Section 14 of FERMA (Amendment) Act No.18 of 2007.

The Senator said, "The humongous debt owed FERMA by the Federal Government has hampered the effective discharge of FERMA’s primary responsibility of road maintenance and rehabilitation.”

said CISLAC boss.

Buhari had rejected the electoral bill four times in the last five years.

In December 2018, the president rejected the bill on the premise that it was too close to the 2019 general elections, while last December, he rejected the bill based on the adoption of direct primaries as the only legally approved procedure for the nomination of candidates.

The protesting CSO groups included Nigeria Civil Society Situation Room; Yiaga Africa, Partners for Electoral Reform (PER), International Press Centre, Institute for Media and Society, Nigerian Women Trust Fund, The Albino Foundation, and the Centre for Citizens with Disability. Others were Premium Times Centre for Investigative Journalism (PTCIJ),

Labour Civil Society Coalition (LASCO), Transition Monitoring Group, CLEEN Foundation and Civil Society Legislative Advocacy Centre (CISLAC).

Also at the protest were Women Advocates Research and Documentation Centre (WARDC), Nigeria Network of Non-Governmental Organizations (NNNGO), Inclusive Friends Association (IFA), Enough is

Enough, The Electoral Hub, Centre for Liberty, and Take Back Nigeria Movement.

Similarly, the International Peace and Civic Responsibility Centre (IPCRC), 100 Women Lobby Group, Women in Politics Forum, Raising New Voices, Millennials Active Citizenship Advocacy Africa and Ready To Lead Africa joined the protest.

Substandard Fuel: House Quizzes Suppliers, Emadeb, Others Distance Selves from Product

Udora Orizu in Abuja

The House of Representatives Committee on Downstream investigating the importation of off-spec petrol imported into the country, yesterday probed the importers and suppliers of the product.

The lawmakers grilled two companies - MRS and a consortium of four companies which included Emadeb, Hyde, Jay Maikifi and Brittania-U- who were among the companies mentioned as suppliers by the Nigerian National Petroleum Company (NNPC) Limited.

Addressing the lawmakers, the leader of the Emadeb/Hyde/AY Maikifi and Brittania-U Consortium, Mr. Adebowale Olujimi said that Britannia -U was solely liable for supply of off-spec petrol.

He said: "On June 16, 2021, the consortium members executed a consortium agreement which defined the rotational responsibilities of members, sequential alternate crude lifting/petroleum product delivery and indemnification of other members against liabilities, claims, etc., that may arise during a member's underperformance or failure to perform under the (Direct Sales and Direct Purchase) DSDP contract.

"The Consortium was awarded the DSDP contract on June 22, 2021 by NNPC. The delivery of the Petroleum, product and crude lifting have been done strictly on a rotational basis by the respective consortium members.

“Some of the Consortium members - Emadeb/Hyde and AY Maikifi immediately engaged a reputable international company for delivery of all PMS cargoes and prompt loading of crude oil; while Brittania-U chose to engage a different entity for her

own supplies.”

He further said: "Brittania-U also preferred to liaise directly with NNPC and took responsibility for all her transactions without recourse to the other consortium members. All evidence to substantiate Brittania-U’s position are attached for references. “The other consortium members - Emadeb/ Hyde and AY Maikifi have successfully delivered 270,000 Metric Tonnes (MT) of Premium Motor Spirit (PMS), while Brittania U also delivered 90,000MT PMS. "The PMS alleged to be methanol-blended was solely delivered by Brittania-U via MT Torm Hilde in January 2022. The other consortium members — Emadeb/ Hyde and AY Maikifi were not privy to the arrangements for the delivery of the aforementioned PMS and documentary evidence relating to the PMS." However, the Chief Executive Officer of Brittania-U, Uju Ifejirika said the product they imported met the approved specification and was certified by NNPC "We have a DSDP contract with NNPC. We have done that for two and half years This is our 10th cargo and none of our cargoes were off-spec and this particular one was not off-spec. Before a cargo will come in, there will be a test at the Port of loading which they did.

“Whoever that is importing for us, we must give that document to them and based on that, they will do their own sample and our supplier do their sample and they gave us the sample result which we have to NNPC and NNPC confirmed it was okay. “Now, the second point of test, the cargo arrived at offshore, Lagos, the vessel tendered NOR. We transmitted that to NNPC and they now appointed

their inspector. That's GMO while we have SEBOD.” She added: “They now went offshore to test the product. When they finished testing the product, there is a joint certificate given by GMO, that is NNPC nominated cargo inspector and our own. You can't bring in the cargo without NNPC inspector jointly carrying out the test and we presented it and it met specification. NNPC tested and gave us certificate, saying that the product met specification.

"Our product came in 4th of January and there is no state that 77 million liters will not finish it in our week. The normal legal position is that when you bring in a cargo and it moves from mother vessel to daughter vessel, custody transfers and at that point, we do not have any legal control over the product.

“And we have all our certificates. Now, they are saying that we brought in off-spec. At what point? You cannot have 90,000 metric tons and you came out with a press release on the 8 of February which was more than a month after this project came in.

“Did anybody call us? Was there any joint test between us and the NNPC? There was none. They did an independent inspection. What is the test result? We don't have the test result as we speak today.

We have all our documents and it met the Nigerian specification."

Also testifying before the panel, the Chief Executive Officer (CEO) of MRS, Amina Miana, denied being responsible, saying that they were certified by NNPC on the importation.

"We received a letter, inviting us to this public hearing in regards to the alleged contamination of fuel imported into the country. So, that's the reason why we are here.

“We are here to clarify the issues regarding the importation of fuel. I think the MD of NNPC was here, and he did clarify that the fuel which we imported was not out of the specification or adulterated.

“Yes, there's been a lot of conversations regarding whether or not we brought in fuel which is contaminated. Let me state that there is an approved specification of PMS which is imported to into Nigeria. That specification is in the product we brought in. And I think the GMD of NNPC, attested to the fact that the product which we brought was tested and intimate Nigerians specifications "On arrival, it was tested by the NNPC inspectors and it met the specification before the vessel was discharged.

The normal procedure is that the NDMPR would normally have their own inspectors to test and certify what was discharged and all of that was done, and certified Ok before the vessel was discharged, so we did not bring any adulterated fuel", Maina said.

In his ruling, the Committee Chairman, Hon. Abdullahi Gaya asked the companies to produce all relevant documents to back their presentations.

He said, "I think in our letter we said you should give us all relevant documents from the beginning to the end. Honourable colleagues, this is just to engage the NNPC and the downstream for them to explain and give us documents, and we have already informed them that after going through the documents, we are going to invite them again to come. For now, it is just for them to explain and give us the document. If there is need to call you back, then we will call you back. We will now decide on what to do."

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NEWS

BELGIUM IN LEKKI FREE ZONE...

L-R: Belgium Ambassador to Nigeria, Daniel Bertrand; Manager, Business Development and Marketing, Lagos Free Zone (LFZ), Chinju Nwankwo Udora and Project Leader, Power & Gas, Prem PHOTO: SUNDAY ADIGUN Krishna, during the visit of the Belgian Ambassador to the LFZ at Ibeju Lekki, Lagos…recently

At Launch of Third Force, Kwankwaso Promises Better Deal for all Nigerians Dalong, Galadima, others join movement

Adedayo Akinwale and Kuni Tyessi in Abuja Former Kano State Governor, Musa Rabiu Kwankwaso, yesterday, at the launch of The National Movement, a third force in the journey to 2023, promised a better Nigeria.

Kwankwaso, who was also a Minister of Defence, formally launched the movement, of which he is the convener and was joined in force by some prominent

Nigerians including Alhaji Tanko Yakasai; President Muhammadu Buhari’s ally turn fierce critic, Buba Galadimaand former Minister of Sports, Solomon Dalung.

Also on the movement were a former Senator from Kaduna State, Suleiman Hunkuyi; former Deputy Senate President, Ike Ekweremadu; Alhaji Ari Gwaska, Senator Grace Bent; and former Vice Chancellor, University of Ilorin, Prof. Oba Abduraheem among others.

Speaking at the launch, Kwankwaso, who is currently a member of the Peoples Democratic Party (PDP) said, it was the collective desire of the movement to rescue Nigeria from the socio-economic quagmire the country is currently going through.

With the slogan: ‘Save Nigeria, Rescue the Nation’, formation of the third force came a day after Kwankwaso said the ruling All Progressives Congress (APC) and

the PDP had nothing new to offer Nigerians.

“The mission of the National Movement is to ensure that Nigeria shall be a land of justice, freedom and equal opportunities, where all citizens shall aspire to achieve their lifetime goals and ambitions, to live in peace, prosperity, and happiness. Today (Tuesday) is a special day in the history of Nigeria, a special day in the life of our great nation and a special day for

Makinde Approves March 11 for Installation of 42nd Olubadan Kemi Olaitan in Ibadan Oyo State Governor, ‘Seyi Makinde, has approved Friday, March 11, 2022, for the installation of High Chief Lekan Balogun, as the 42nd Olubadan of Ibadanland.

The approval was contained in a circular issued from the Ministry of Local Government and Chieftaincy Affairs.

In the circular with Ref No: CB 211/10/155 and dated 22 February, 2022, addressed to Senator Balogun, a copy of which was sent to the Chairman, Ibadan South-East Local Government Area, the approval was titled: “Installation Ceremony: Olubadan Of Ibadan”.

The correspondence to the

Olubadan-elect, announcing the date, was in reference to an earlier later from him as regards the issue of installation.

The circular by the Permanent Secretary, Ministry of Local Government and Chieftaincy Affiars, B. A. Olanrewaju, read: “I wish to refer to a letter No.IBSELG.243/17 of 16th February, 2022, on the above subject and inform you that His Excellency, the Executive Governor of Oyo State, has approved Friday, 11th of March, 2022, as the date of the Installation of the New Olubadan of Ibadan.

“Once again, Congratulations, Kabiyesi."R The stool of Olubadan of Ibadanland, became vacant following the

CITING EMERGENCE OF PREVIOUS CHAIRMEN, BUHARI OKAYS CONSENSUS FOR APC CONVENTION Abdulaziz Yari; former Governor of Bauchi State, Isa Yuguda; former Governor of Borno State, Senator Ali Modu Sheriff; and Sunny Monidafe.

The chairmanship aspirants favoured by the method are the senator representing Niger East, Mohammed Musa; Mallam Saliu Mustapha; and former governors of Nasarawa State, Tanko Al-Makura and Abdudulahi Adamu.

Buni Threatens to Resign

But while APC may have succeeded in dousing the raging issues over its national convention, a new problem seems to be developing.

An insider told THISDAY last night that the chairman of the caretaker committee and Yobe State Governor, Mai Mala Buni, had threatened to resign his position, citing accusations of inefficiency from many APC governors accused.

The source said regarding Buni,

“While some of the governors were ready to grab his resignation, others cautioned that accepting his resignation would draw the party back. And on the basis of that, the governors encouraged him to continue until the national convention is held.”

However, while the governors and the president agreed to swap offices between North and South, THISDAY gathered that the leaders of the party specifically agreed that the national chairman should go to the North-central.

According to the source, while the party’s leaders agreed on consensus option in electing the national officers, the governors agreed that the president should be given the privilege to pick the national chairman.

Thus, ahead of the national convention on March 26, the meeting yesterday also agreed to hold national caucus meeting to resolve all pending issues.

death of the last occupant, the late Oba Saliu Adetunji, on January 2.

High Chief Balogun, became automatically qualified as the Olubadan-designate by virtue of his position being the Otun Olubadan, the next high chief in the hierarchy of the Ibadan Traditional Council.

After some initial legal hiccups, members of the Olubadan-in-

Council formally submitted his name as the successor to the throne, in accordance with the succession system operational in the ancient city.

Makinde, thereafter, announced last Monday, the name of Balogun, as the Olubadan-designate, stating that his decision was in line with the existing Ibadan traditional system.

all those of us, who are desirous of working together collectively to redeem our nation.

“For too long, Nigerians have been waiting for this moment.

For too long, Nigerians have been asking for a way out of our current severe economic and political predicament. For too long Friends of Nigeria, both at home and abroad have been looking forward to the day Nigeria shall rise again.

“I am pleased to say, the place is here and the time is today and now. Today, 22-02-2022, being both an ambigram and a palindrome, is consciously chosen as a historic day on which we, the people of Nigeria, cutting across all social, political, religious and ethnic backgrounds and affiliations, are assembled here to launch this extraordinary National Movement,” he said.

Kwankwaso, who blamed corruption for the challenges in the country, however, promised a ‘Marshall Plan’ to tackle the scourge

and rescue Nigeria from its present socio-economic challenges. meanwhile, a chieftain of the ruling APC, Hon. Abdulrahman Kawu, has thrown his weight behind the emergence of the movement.

Kawu, a former Senior Special Assistant to President Muhammadu Buhari on National Assembly Matters (House of Representatives), said whatever would enhance the sustainability of Nigeria's democracy ahead of the 2023 general election was a welcome development irrespective of individuals' political interests.

"As a Democrat, I am in support of any movement that will restore democratic principles and install good governance in line with international best practices such as Accountability, Transparency, Inclusiveness, Rule of Law, Effectiveness and Efficiency, Justice and Equity, Free, Fair, Transparent, Acceptable and periodic Elections," Kawu said.

Electoral Amendment Bill: APC Not Ready to Change Status Quo, Says Falana Wants Nigerians to mount pressure on N/A to override president Says constitution recognises zoning Wale Igbintade Human rights lawyer, Mr. Femi Falana, SAN, yesterday said he would not be surprised if President Muhammadu Buhari refuses to sign the electoral bill into law, stressing that the ruling All Progressive Party (APC) is not ready to change the status quo.

Falana, who was a guest on Political Paradigm on Channels Television, monitored by THISDAY in Lagos, stated that the ruling party wants the status quo to remain hence there is no pressure on the President to sign the electoral bill to law.

He said whereas the ruling party while in opposition campaigned for electoral reforms but are no longer interested in putting a stop to the rigging of elections.

He said Nigerians should be willing to mount pressure on the National Assembly to override the President if he failed to sign the electoral bill into law adding ‘we can’t go on like this’.

Asked if he was worried that the President has refused to sign the electoral amendment bill, Falana said: ‘’I am not worried because I understand why the ruling

party is not prepared to reform the electoral process through the new bill, and I won’t be surprised if the President doesn’t sign the bill. We have been in this game since 2018.

"APC as an opposition party campaigned for electoral reforms, but the party is not prepared to allow the status quo to change.

Status quo that promotes rigging of elections, that promotes inconclusive elections, and the 'tribunalisation' of the electoral process. Asking court or the tribunal to determine the winner of the election as opposed the people.’’

According to Falana, Nigeria is not yet an evolving democracy, but rather an evolving civil rule.

"Whereas in the last 23 years we have had an uninterrupted civil rule, we are far from a democratic rule. Democracy, as stipulated by Section 14 of the Constitution requires that we promote popular democracy in Nigeria. It also stated that we must have fair and credible elections. We have not really had a good election in Nigeria.

"It also stipulated that the welfare of the people shall be the primary focus of the ruling class. But, the welfare of the people has never

been the primary focus of the ruling class. Insecurity has been the order of the day. We cannot therefore talk of democracy because human rights are violated.

He added that once these essential attributes of democracy are missing we cannot be talking of democratic rule.

Falana further stated that aside from the fact that Nigerians have kept the military out of power, no other progress has been made since 1999 adding that the limited gains that were recorded are being eroded.

His words: “People are being harassed. The majority of Nigerians are criminalised. People are being detained illegally. Those who are involved in extra judicial killings are hardly arrested whereas ordinary people accused of stealing ordinary handset worth N10,000 or N20, 000 are arrested and detained and taken to court, if they are lucky to be taken to court.

“They are handcuffed and leg chained before the media. But, those accused of stealing billions or what you call money laundering are never paraded. You do not embarrass politically exposed persons. So, it is difficult to speak

of democracy for the majority of our people.”

He said since 1999 when the civil rule was restored, no regime has ever undertaken to restore the rights of Nigerian people at the federal, state, or local government stressing that “There is no example of good governance when it comes to respecting the rights of our people.’’

Speaking on the forthcoming 2023 election, Falana said: “Millions of young people are reported to have registered to vote and more are prepared to participate in the democratic process, but what are they voting for. The media have to help the Nigerian people; unless the media begin to interrogate those who want to lead nothing will change in 2023.

"After 60 years of independence, we must challenge those who have made difficult for our people, who have made it difficult for our country to realize her potential.

Those who want to govern us must be challenged. Today, people talk about Jakande estates, but since 1999, governments in Lagos State have been building houses for the rich and not for the poor, and not for the workers.

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NEWSXTRA

House Asks FG to Fulfill its Obligations to Striking ASUU uliet Akoje in Abuja The House of Representatives federal has tasked the government to immediately fulfill its obligations to Academic Staff Union of Universities (ASUU) by honouring the previous agreements signed by both parties, with a view to ending the ongoing nationwide strike action.

It urged Federal Ministry of Labour and Employment and ASUU to adhere to the clauses and provisions of the previous Memorandum of Understanding (MoU) and the Memorandum of Action (MoA) in the interest of Nigerian students and education sector in Nigeria and call off the warning strike.

Consequently, the House mandated the joint Committees on Labour, Employment and Productivity and, Tertiary Education and Services to interface with the Ministries of Labour and Employment and, Education, Civil Society Organisations, Nigeria Inter-

Religious Council (NIREC) and ASUU to address the outstanding issues that are precipitating the current warning strike by members of ASUU. These resolutions were sequel to the adoption of a motion on the ‘Urgent need to address the frequent strike actions by ASUU’ sponsored by Hon. Dozie Nwankwo at plenary yesterday.

Nwankwo while presenting the motion, called for the House’s intervention and expressed concern over the non-implementation of various meetings held by the relevant bodies which led to the calloff of the ASUU strike action which lasted for nine months (from March 2020 to December 2020).

He said:“The House is also aware of the individual and corporate pains the strike action inflicted on Nigerian students, parents and the education sector to the extent that it disrupted the academic calendar and impacted negatively on the

teaching staff, their families and the depreciating standards of Nigeria’s public universities.

“The House is conscious of

the benefits and advantages of the demands of ASUU on the overall interests of Nigeria’s public institutions and the

well-being of the personnel which includes funding for the revitalisation of public universities and signing

and implementation of the renegotiated” 2009 FGNASUU Agreement, amongst others.

NATIONAL SAVINGS SCHEME...

L-R: Commissioner for Insurance/Chief Executive Officer, National Insurance Commission (NAICOM), Mr. Sunday Thomas; Director General, Securities and Exchange Commission(SEC), Mr. Lamido Yuguda, and Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed, duringthesubmissionofthereportoftheFederalGovernmentWorkingGrouponnationalsavingsschemetotheministerinAbuja…yesterday

NDLEA Intercepted over 3000kg FG Arraigns Anambra Varsity Prof, Four Others over Alleged Forgery However, attempt to get them around January 15, 2019, at Offences Act, Cap M17 Laws of Drugs from Lagos Airport Alex Enumah in Abuja remanded in custody was turned Awa, Orumba North Local of Nigeria, 2010.

Chinedu Eze

The National Drug Law Enforcement Agency (NDLEA) has disclosed that it intercepted over 3000 kilogrammes of different types of drugs at the Murtala Muhammed International Airport (MMIA), Lagos in 2021.

Just as it also disclosed that last week alone, the agency intercepted 460 kilogrammes of Tramadol at the same airport.

This was made known by the Commandant, NDLEA Murtala Muhammed Airport Commandant, Mr. Usman Ali when the UK Minister for Africa, Vicky Ford visited and inspected facilities at the Command

yesterday.

Ali said that the NDLEA has received tremendous support from the UK in different areas, including training, provision of equipment and other forms of collaboration.

“The UK has supported us immensely. We now conduct interviews with drug suspects under camera and that has helped us a lot, especially in court because we can prove that their human rights have been respected.

“Just last week, we seized about 460kg of tramadol and last year alone, we seized over three tons (over 3000 kilogrammes) of drugs at the Murtala Muhammed International Airport.”

N165bn Probe: Stop Playing Politics of Vendetta, Sycophancy Ex-guber Aspirant Tells House Mary Nnah A former aspirant in the 2018 gubernatorial race in Ekiti State under the umbrella of the Social Democratic Party (SDP), Dr. Joseph Ayenimo, has berated the Nigerian House of Representatives to stop what he described as politics of witch-hunt, vendetta and sycophancy by making moves to allegedly stage-manage a probe of N165 billion funds injected into reforming the correctional centres nationwide under the supervision of the Minister of Interior, Ogbeni Rauf Aregbesola.

Ayenimo argued that such probe, coming at this time, when

Aregbesola has openly criticised his political benefactor and Presidential hopeful, Senator Ahmed Bola Tinubu, over the alleged imposition of Governor Gboyega Oyetola on Osun State people, was not only ill-timed but also being orchestrated to settle political scores.

Ayenimo, an Australianbased Industrial Chemist, who is currently a stalwart of the People’s Democratic Party (PDP) in Ekiti, said the Hon. Femi Gbajabiamila-led House of Reps is rather displaying shameful sycophancy to Tinubu by moving against Aregbesola simply because the latter had chosen to look the presidential hopeful in the eye.

The federal government on Tuesday formally arraigned a University Professor, Obiajulu Obikeze and four others over allegations bordering on forgery.

The federal government in the charge filed by the Inspector General of Police, specifically accused the defendants of forging Chieftaincy documents of Anambra State.

They pleaded not guilty to all the 11-count charge read against them.

down by the trial judge, who observed that the defendants have been on administrative bail granted them by the police.

Other defendants in the charge marked: FHC/ABJ/ CR/184/2021, are Obikeze, Dr Raymond Ofor, Chief Ezue, Sir Amobi Nwafor and Okafor Bethram.

The prosecution in the suit dated and filed July 6, 2021, stated that the defendants committed the alleged offence

Government Area of Anambra State.

The charge is brought pursuant to Section 68 of the Nigeria Police Act, 2019, and Section 106(c) of the Administration of Criminal Justice Act, 2015.

In count one, the five defendants and others now at large were alleged to have conspired to commit forgery offence contrary to Section 3(6) and punishable under Section 1(2) (c) of the Miscellaneous

While count two accused them of uttering forged documents, count three accused them of making a forged letter to the Special Adviser to the Governor of Anambra State on Chieftaincy and Towns Union Matters titled, “Submission of Awa Chieftaincy Constitution,” knowing it to be false, with intent that it may be acted upon as genuine at the Government House, Awka, Anambra State.

Regulator Blames Black Market, Panic Buying for Fuel Queues in North Central States George Okoh In Makurdi The Nigerian Midstream and Downstream Petroleum Regulatory Authority,(NMDPRA) formerly known as the Department of Petroleum Resources (DPR), has explained the shortage of petroleum products in Benue, Nasarawa, Taraba and Kogi States to activities of black marketers and panick buyers.

Operations Controller of the Authority, Gabriel Adi Adagba, disclosed this to reporters when he played host to members of the Correspondents’ Chapel at his office in Makurdi on Tuesday.

He said the states received 107 trucks of fuel at the Makurdi depot as against only 45 trucks last week noting that the current situation was not a distribution problem but a supply problem

that came about as a result of the importation of an off-spec product.

“It is not a distribution problem but a supply problem which came about as a result of the importation of an off-spec product which needed to be recalled. That recall gave rise to the current situation but we the product we are getting now we should have more supply at the stations but people are panicking

and are unnecessary rushing to buy causing long traffic” He also blamed activities of black marketers for the scarcity.

“I assure you that there is strong hope. As at last week, the supply we were getting to Benue and neighbouring states including Taraba, Nasarawa, Kogi, and part of Plateau was a far cry from the usual. But as at Monday, we are beginning to pick up.”

Police Arrest Three Suspects for Violence in Kwara

Hammed Shittu in Ilorin

Following the violence that erupted on Tuesday in Ilorin, Kwara State capital, the authorities of the state police command has arrested three suspects in connection with the violence.

Already, one of the suspects that sustained serious injuries during the violence has been taken to University of Ilorin

Teaching Hospital Complex for medical attention.

THISDAY checks revealed that the cause of the violence is yet to be ascertained at the time of filling this report but some of the residents of the areas where the violence broke out told journalists yesterday that the violence was due to the crisis between the two groups suspected to be hoodlums in the areas.

The areas where the violence broke out include, Adeeta, Adeta, Isale, Jagun and Kuntu areas of Ilorin.

Dangerous weapons such as guns, bottles and machetes were freely used by hoodlums of the areas who engaged themselves in the bloody clash.

Contacted on the development, the State’s Police Public Relations Officer,

Mr. Ajayi Okasanmi, who confirmed the incident in a statement issued in Ilorin yesterday said that three suspects have been arrested in connection with the incident.

The statement also said that one of the suspects that sustained serious injuries during the violence has been taken to University of Ilorin Teaching Hospital Complex for medical attention.

Medical Doctor Jailed Two Years for Forged Document Wale Igbintade Justice Oluwatoyin Taiwo of the Special Offences Court in Ikeja, Lagos, has sentenced a 71-year-old medical doctor, Dr. Wilfred Adedokun Fajemisin, to two years imprisonment for being in possession of a forged document.

The Economic and Financial Crimes Commission (EFCC) arraigned the convict, who

was a former vice chairman of Mushin Local Government Area in 2017 on a three-count charge bordering on conspiracy to commit felony, forgery and being in possession of a forged document.

Delivering the judgement, Justice Taiwo found the defendant guilty of being in possession of forged document contrary to Section 6 of the Advance Fee Fraud and Other

Fraud Related Offences Act. Consequently, the Judge sentenced the defendant to two years imprisonment with an option of a fine of N500, 000.

However, the court held that the prosecution failed to prove beyond reasonable doubt the charge of conspiracy and forgery against the defendant.

The court held that: “I find that the circumstantial evidence

was not compelling, cogent, and equivocal enough for me to conclude that it was the defendants that forged the Deed of Assignment.”

The court further held that failure of the prosecution to produce one Stanley Agwu, who was said to have procured the forged document, created doubt in the mind of the court that the defendant forged the document.

47

WEDNESDAY, ͺͻ˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Chelsea Cruise to Comfortable Advantage against Lille Chukwueze in action for 89 minutes as Villarreal hold Juventus

Chelsea took control of their Champions League last-16 tie against Lille with a comfortable 2-0 victory at Stamford Bridge last night.

Elsewhere in Spain, Super

Eagles forward, Samuel Chukwueze, was in action for 89 minutes as Villarreal battled Juventus to a one-all draw in the other Last 16 tie of the night.

At Stamford Bridge, Kai

CHAMPIONS LEAGUE Havertz headed in Hakim Ziyech's corner after eight minutes and Christian Pulisic was the beneficiary of a superb run and pass from N'Golo

Kante in the 63rd minute as the Blues secured a crucial first-leg advantage.

Out-of-sorts striker Romelu Lukaku was only a substitute, with Havertz the main attacking threat - and the German almost scoring twice before his early

strike.

The only negatives on a good night for Chelsea and manager Thomas Tuchel were injuries to Ziyech and midfielder Mateo Kovacic ahead of Sunday's EFL Cup final against Liverpool at Wembley.

RESULTS Chelsea 2-0 Lille Villarreal 1-1 Juventus

TODAY @9pm Atletico v Benfica v

Man Utd Ajax

Samuel Chukwueze was in action for 89 minutes as Villarreal played Juventus to a one-all draw...last night

Nigeria Can Sustain Peace Through Sports, Says Gbajabiamila Udora Orizu in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila has said that sports as a unifying force can be used to promote and sustain peace in the country.

Gbajabiamila who spoke in Abuja when he received a delegation from the University of Lagos on a courtesy visit to his office at the National Assembly, noted that one of such sporting avenues is the National University Games Association (NUGA), which brings youth from various institutions and backgrounds together to excel.

The delegation, led by the Vice-Chancellor of the institution, Prof Oluwatoyin Ogundipe, was in Abuja to present the torch for the games to Gbajabiamila and solicit his support for the success of the events.

Gbajabiamila stated that apart from promoting peace and unity, sports also helps to improve an

NUGA 2022 individual's mental health as well as general wellbeing.

The Speaker, who is an alumnus of the university, said one of his passions was the development of sporting infrastructure and the sponsorship of games.

He said, "I am glad that the university is taking the front seat in driving that thought. I am glad and happy. All work and no play makes Jack a dull boy. And very important too, sports play a role in improving our mental health."

Earlier, Ogundipe told the speaker that this year's NUGA would be used to revive all school sporting events and especially, to send a message to the world that Nigeria could organise such events as a peaceful country.

Ogundipe thanked Gbajabiamila for the various intervention projects he initiated and completed for UNILAG since becoming a member of the National Assembly.

Lagos 2022 African Fencing: Egypt, Algeria S’Africa in Supremacy Battle Team Nigeria eye medals in individual and team events Continental powerhouse Egypt are expected to face strong opposition in their quest to top the overall medals table as the 11th Cadet and Junior African Fencing Championship in Lagos today.

With 50 athletes and officials, the Egyptians, who were scheduled to arrive the former federal capital city yesterday evening have the highest delegation in the five-day championship holding at the Festival Hotel, Festac Town, Lagos.

They are however expected to face strong challenge in fellow north Africans, Algeria while South Africa also pose serious threats to the fencers from the land of famous Pharaohs.

Team Nigeria will not be left out as the 21-man squad of the hosts look set to ruffle the feathers of the leading nations following the

conclusion of their final training which lasted for about two months.

"Nigeria remarkably won two bronze medals in the individual men's foil and women's team Sabre at the 2018 edition also hosted in Lagos. We are set to make several podium finish both at individual and team events this year, " Nigeria Fencing Federation President, Adeyinka Samuel, assured the nation at the weekend.

He declared that Team Nigeria will make good use of the opportunity of hosting the championship by breeding more fencing talents that can compete at the high level in the sport.

The championship serves as an avenue to earn points to the Cadet and Junior World Championship slated for the United Arab Emirates in April.

Chelsea players celebrating edging French Ligue 1 side Lille 2-0 to plant a foot in the quarter finals of the UEFA Champions PHOTO: EPA League...last night.

Super Falcons in Crucial Clash with Lady Elephants Duro Ikhazuagbe

Nigeria’s Super Falcons will be hoping to consolidate on their two-nil advantage from the first leg in Abuja last week when they file out against the Lady Elephants in Abidjan this afternoon.

A win or draw will see the Nigerian ladies book the ticket to join the likes of Zambia, Senegal, Zambia, Uganda and Burundi who have reached the 2022 Women's Africa Cup of Nations.

The Zambian ladies drew 1-1 against Namibia yesterday to secure their qualification on the away goals rule.

The second leg of their playoff, played in South Africa with Namibia as the designated home side, saw both teams approach the match in an attacking manner after a goalless draw in the first leg last

AWCON QUALIFIERS Wednesday.

Namibia took an early lead through Emma Naris and were ahead at the break following a first half which saw chances for both sides in Johannesburg.

However, the Copper Queens punished Namibia with 20 minutes to go through substitute Siomala Mapepa.

The 1-1 draw was enough to see Zambia make the finals for the third time in their history.

The Copper Queens are the fourth side to book their spot at the finals after hosts Morocco, Uganda and Burundi, who secured their place with a 11-1 aggregate win over Djibouti on Monday.

Senegal also went through when they defeated Mali 3-2 on penalties after a 1-0 defeat in Bamako.

Senegal had beaten their West African rivals 1-0 in last week's first leg, but Agueissa Diarra's 14th-minute goal in Bamako meant the game went to spot kicks.

The final seven qualifying ties

will be decided today.

Morocco will host the Women's Nations Cup from 2-23 July, with the four semi-finalists automatically qualifying for the 2023 Women's World Cup.

RESULTS r /BNJCJB ;BNCJB BHH -(Zambia qualify on away goals)

r .BMJ 4FOFHBM BHH -(Senegal qualify 3-2 in shootouts) TODAY

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5VOJTJB BHH $BNFSPPO BHH /JHFSJB BHH ( #JTTBV BHH

D’Tigress Target Q’final Finish at FIBA World Cup in Sydney Nigeria's D'Tigress will be aiming to reach the quarter-finals at the FIBA Women's Basketball World Cup later this year, according to point guard Promise Amukamara.

The side will be Africa's sole representatives at the tournament, which will take place in Sydney, Australia, in September.

D'Tigress have climbed a place to 14th in the FIBA world rankings following their showing at the World Cup qualifier in Belgrade earlier this month.

The African champions recovered from their opening day defeat to China by beating world number five France and continental rivals Mali to pick up the last available ticket on offer for Sydney.

Despite missing France-based point guard Ezinne Kalu,Amukamara joined top performers Adaora Elonu, Amy Okonkwo, Victoria Macaulay and Oderah Chidom in posting stellar performances to seal back-to-back appearances at the World Cup for Nigeria.

"This tournament was very special for us. We battled through a lot of adversity," Amukamara told the FIBA website.

"I had to step up and take on the point guard and leader role. I am not very vocal, so that was a challenge for me.

"I think this tournament was the best one for us, because we had to put absolutely everything together with no training camp or preparation. We really believed in ourselves.

"Now we just have to get back healthy and the sky is the limit. We have already shocked a lot of the world. We won't be just turning up (in Sydney) - we will have a different mind set and will be reaching for the quarter-finals."

At the 2018 World Cup in Spain, Nigeria posted the continent's best performance as they exited the tournament in the last eight.

The draw for the 2022 World Cup will take place on Thursday, 3 March in Sydney.

Wednesday, February 23, 2022

TR

UT H

& RE A SO

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Price: N250

MISSILE NLC to Nigeria, IMF ”There is no country partnering with the IMF that has survived by its advice. The recent history of Greece and other places is a clear testimony for anybody who wants to take to IMF’s advice. The IMF is giving Nigeria such advice because if they destroy Nigeria’s economy, it is as good as destroying African economy.

This is another level of colonialism”--NLC Deputy National President, Joe Ajaero, advising Nigeria to beware of IMF loans and their hypocritical advice.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Of Age and Power T

he old debate on the generational shift of power to the youths was rekindled two days ago by former President Olusegun Obasanjo. He called on the old generation of politicians to step aside and collaborate with the younger ones for the purpose of nationbuilding.

The former president spoke at a lecture organised by the Murtala Mohammed Foundation. It was an occasion to honour the memory of former Head of State General Murtala Mohammed, who was assassinated at 38 on February 13, 1976. Obasanjo, who was Murtala’s deputy, became Head of State at 39 after the tragic incident.

The call for “intergenerational collaboration” was actually made by Obasanjo in response to the remarks made by the guest lecturer at the occasion, Ekiti State Governor Kayode Fayemi.

Although Fayemi’s topic was “Beyond Boko Haram: Addressing Insurgency, Banditry and Kidnapping across Nigeria,” the governor said in passing that he was in primary school when Murtala and Obasanjo came to power in 1975.

In response, Obasanjo said, inter alia, that “something must be wrong” if members of his generation were still competing for power with those of Fayemi’s age. Instead of intergenerational competition for power, Obasanjo advocated a model in which the older generation could step back from the political stage and pass on their experiences to the succeeding generations.

In a way, Obasanjo’s important statement is a continuation of the perennial national conversations on power and the generational question. Five years ago, there was a lively exchange on the question between Obasanjo and Senior Advocate of Nigeria Olisa Agbakoba.

In an open letter to Obasanjo, Agbakoba called on Obasanjo and others in the older generation to join in the search for “young vibrant leaders” to govern Nigeria. On that occasion, the eminent lawyer put the matter like this: “Our country is held back by a crop of leadership that has outlived usefulness and effectiveness as a result of old age.

“It beggars believe that there is no culture among our political elite, to encourage younger people with new ideas to aspire to positions of leadership, in particular the office of the President.”

The context of the letter is also important.

First, Agbakoba’s letter came a few weeks after the National Assembly had passed the not-too-young-to-run bill to pave way for younger politicians to contest elections. Secondly, at the time Agbakoba made his statement, politicians were already making their calculations towards the 2019 elections. As usual, age was thrust upon the polity as a factor in the permutations.

Expectedly, Obasanjo fully replied Agbakoba a few days later, challenging the younger generation to change its attitude towards power in the light of the “opportunities” available.

Obasanjo defended robustly the much-criticised record of its generation in power. Of the younger generation, he said: “Most members of the younger generation of Nigerians are mostly contented with waiting for dead men’s shoes

Obasanjo and are unwilling to beat an alternative path to leadership.

“In such a situation, it is to be expected and actually it is human that those with some head start in life will not concede such advantages freely and based on their innate goodness. The world, as I know it, is powered by shrewd hard-headed calculating individuals and the cornucopia of their mercy is decidedly thin and it is unlike God’s rain that falls on the just and the wicked alike.”

With a tinge of hubris, he even told Agbakoba that he was available to help with mentorship in matters of power and governance. Unlike two days ago when he made a case for a generational power shift, Obasanjo was obviously harder on the youths in his intervention in the debate in 2017 when he pointedly accused the younger generation of Nigerian politicians of “work avoidance.” The former president explained that his generation in the military got to power as young men circumstantially and that it was “not our own making.” He claimed that they made a success of their intervention because of their “determination, commitment and national outlook.”

However, a lot seems to be problematic with the debate on the generational shift of power.

In fact, a number of myths should be exploded to make the debate more productive. First, a static view of things is sometimes taken in discussing age and access to power. It is, of course, a biological reality that the matter of age is a dynamic one. Some of those who could play the role of youths in their political parties when this dispensation began in 1999 are now firmly on the seats of elders. About 20 years ago, some politicians and activists were putting together a movement of those who were under 50. The primary qualification for membership was to be younger than 50 years in age. Obasanjo was president at the time.

The movement seemed to have a vision to take charge of the affairs of Nigeria in the spirit in which Obasanjo was to charge the youths on power and leadership responsibility 15 years later. Today, virtually all the members of the under-50 movement of that time are all above 60, with some nearer 70 than 60. After all, no one can be permanently in the youthful age except members of some Nigerian political parties in which a 65-year old man could be the youth leader!

Secondly, the generational question is often posed in ahistorical terms. It is simply not true that Nigeria has always been governed by old hands. Some of the old figures who have featured in the last 23 years have been in the arena of power since they were in their youth. It is part of the mythology of Nigerian politics that young people have never been in the saddle. On the contrary, Nigeria has largely been ruled by youthful energy. The three premiers who formed regional governments in 1951 were under 50 – Nnamdi Azikiwe (47) in the east, Obafemi Awolowo (42) in the west and Ahamadu Bello (41) in the north. Some members of the federal cabinet in the First Republic were in the 30s just as some of the federal permanent secretaries. Mathew Mbu, for example, had been High Commissioner in the United Kingdom and minister before his 30th birthday! When the civil war broke out in 1967, General Yakubu Gowon as Head of State of the Federal Republic of Nigeria was 33 while the Head of State of the Republic of Biafra, General Emeka Odumegwu- Ojukwu was 34. Some of members of the cabinets on both sides were also in their 30s working with older personalities. President Shehu Shagari was under 60 when he was elected in 1979.

Even in this dispensation, a number of the governors elected in 1999 were under 40. As pointed out above, Fayemi, who was a primary school pupil when Obasanjo became military Head of State in 1976, is today the chairman of governors’ forum. He is a former minister.

His name has consistently been mentioned in the list of presidential hopefuls by pundits, although he is yet to make a declaration.

Similarly, young elements were elected into national and state parliaments. The House of Representatives has had speakers who were under 40 in the last 23 years.

Thirdly, at no point in history has a generation “stepped down” for another generation. It doesn’t just happen that way. As Asiwaju Bola Tinubu would say, “power is never served a la carte.” As sketched in the foregoing no

“The polity would be more enriched by ideological politics than mere advocacy for generational power shift”

generation has ever waited for power to be handed over to it by an older generation.

Quite a number youths are playing crucial roles in contemporary times, but that is not on the account of power being handed over to their generation. Even if you go deeper into history, at a point younger elements seized the initiative in the nationalist movement. The youths in the Zikist Movement, for example, didn’t wait on the older elements to define their mission for them in the struggle.

So, what Obasanjo said in 2017 seemed to be closer to the reality than his current advocacy for those in power to step down for the youths. Just like the generations before them the youths should organise themselves for power in democratic contests. There is a surfeit of sources of inspiration for such endeavours.

Some of the political giants of today were unknown in the political landscape barely a generation ago. They didn’t plead for power to be transferred to them; they just stepped on to the stage through different trajectories.

Neither did they make a fetish of youthful age.

There is no point putting the age factor forward as the only qualification to govern.

Decades after Americans elected Bill Clinton at 46, George W. Bush at 54 and Barrack Obama at 47, the same electorate elected Donald Trump at 70 and Joe Biden at 78. Only four years ago, Mahathir Mohamad returned to power at 93 as Malaysian prime minister. It does appear that in other climes the focus is on the purpose a leader is to serve while in power and not necessarily the age. This point could be illustrated by the American presidential debate in 1996. Questions came up on the age of the Republican candidate Robert Dole, who ran against incumbent Clinton. Dole was 73 while Clinton was 50 at the time. In a memorable rhetoric of the debate, Clinton said he was not as concerned about Dole’s “biological age” as he was worried about “the age of his ideas.”

At the time, Dole was regarded as the oldest man ever to run for American presidency.

All told, beyond the generational question the ultimate question should be this: what is to be done with political power when it is shifted to the youths? When this question is rigorously posed, the lacuna in the present conversations about age and politics would become more conspicuous.

There should be a greater emphasis on the relevance of the ideas of any politician to development. Beyond the age, the ideas of development purveyed by politicians should also be an important factor of politics. This is because what to do with power is a function of the underlying ideology propelling politics of the old and the young alike.

There are young people with clear visions for progress just as their members of their generations imbued with reactionary ideas.

Similarly, there are old people with backward ideas just as there are others in their generation who embrace thoughts that, if applied , could help to widen the frontier of development if they could get into power.

The polity would, therefore, be more enriched by ideological politics than mere advocacy for generational power shift.

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