Tinubu to Corporate Nigeria: I’ve No Excuses to Underperform, I Campaigned for the Job
Says govt working to bring down inflation rate, economy being charted to growth path
Deji Elumoye and Michael Olugbode in Abuja President Bola Ahmed Tinubu, last night, told the corporate Nigeria that he had no excuses to underperform because he campaigned for the job of the president of the country. He, however, declared that Nigeria's economy was at a turning point and would require the steadfast support of the private sector for
Landmark Group begs FG to reroute 1.5km of 700km coastal road to save tourism business
at Parallel Market on Wednesday, indicating a decline of 16.36 per cent.
Emmanuel Addeh, Chuks Okocha, Adedayo Akinwale, Kingsley Nwezeh, Sunday Aborisade in Abuja and Nume Ekeghe in Lagos
About 24 hours after raising the electricity tariff for premium customers by over 230 per cent, Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Musiliu Oseni, yesterday, defended the decision, stressing that it will bolster electricity supply nationwide. Oseni insisted that the move will help reduce incidence of national grid collapses as well as encourage increased investment in the power sector.
Speaking during an interview on Arise Television, Oseni, however, added that the commission was implementing measures to prevent any exploitative practices by distribution companies towards customers. He stressed that a situation room will be established to collect and address customer complaints from those impacted by the tariff adjustment.
sustained growth and prosperity. In yet
round the clock to bring the nation's inflation
down to a manageable level. Speaking during Iftar at the State House, Abuja, with members of the Nigerian business community, the www.thisdaylive.com Friday, April 5, 2024 Vol 29. No 10586. Price: N400 TRUTH & REASON Global Rights
Attacks on Media by Nigerian Security Personnel... Page 16 Continued on page 5 Tinubu Rejoices with Oshiomhole at 72... Page 17 Senate vows to take action on power rates hike on resumption TINUBU BREAKS FAST WITH CORPORATE NIGERIA... Standing and speaking is CEO of Airpeace, Allen Onyema; seating next to him, L-R: Chairman of UBA, Tony Elumelu; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Amina Oyagbola; on the far right is Minister of Trade and Investment, Doris Uzoka-Anite; backing the camera is Vice President Kashim Shettima and President Bola Ahmed Tinubu listening as Onyema made his remarks during the President’s breaking of fast dinner with corporate Nigeria … yesterday night Continued on page 5 NERC: Electricity Tariff Increase Would Reduce Grid Collapses, Enhance Supply Bennett Oghifo and Nume Ekeghe in Lagos The naira yesterday continued to gain against the dollar, at the official window while it maintained stability at the parallel markets. At the Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira closed at N1255.07/$1, a gain from its previous close at N1,262.85/$1 on Wednesday, reflecting a gain of N7.78. However, on the parallel market for the first time in two weeks was unchanged, as it exchanged N1,245/$1 the same as the Wednesday. The daily turnover saw a decline reaching $138.99 million yesterday, in contrast to the $166.18 million recorded Continued on page 5 Naira Sustains Gain, Reaches N1255/$1 at Official Window, N1,245/$1
another meeting yesterday, the president also disclosed that his administration was working
rate
Bemoans Escalating
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Tinubu to GAVI CEO: Nigeria’s Ability to Produce Vaccines Not in Doubt
Says nation ready to offset 2023 counterpart contributions for routine vaccines Gavi expresses commitment towards providing $250m grant
Deji Elumoye in Abuja
President Bola Tinubu has called on Gavi, the Vaccine Alliance, to collaborate with potential Nigerian vaccine manufacturers to ensure equitable access to life-saving vaccines for children and adults.
Speaking at a meeting with a delegation of GAVI led by its Chief Executive Officer, Dr. Sania Nishtar, at the State House, Abuja, the president said partnership on local vaccine production has become necessary owing to the challenges faced by developing countries, especially during the COVID-19 pandemic and other infectious disease outbreaks.
His words: "We have capable and talented people who can make the necessary contributions to the production of vaccines in Nigeria and the rest of Africa,” the President told the visiting CEO, who assumed office on March 18, 2024, and had embarked on visits to some African countries.
to partnering GAVI,'' Tinubu said. The President stressed that his administration was focused on ensuring that no child was left behind when it comes to vaccination against preventable childhood diseases.
Tinubu assured GAVI CEO of Nigeria’s commitment to fulfilling its outstanding counterpart contributions for routine vaccines for the year 2023. He, however, directed the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, to work with the Coordinating Minister of the Economy and Minister of Finance, Olawale Edun, to ensure the release of necessary funds for vaccine procurement. ''We intend to contribute to the development of our healthcare programme, and we are committed
''GAVI’s commitment to humanity is recognised throughout the world. Thank you for the impactful commitment to humanity, and we welcome the collaboration to save our children from preventable diseases.
''We as a nation are committed to your values, and we believe that no child should be left unprotected,'' he said.
President Tinubu acknowledged the invaluable perspective shared by the GAVI CEO, who hailed from a developing country, Pakistan, and emphasised the importance of
leveraging her experience for the benefit of children’s health.
Commending Dr. Nishtar for her visit to Nigeria and support for the administration’s health-sector initiatives, the president pledged to prioritise investments in health sector renewal, noting the importance of coordination and collaboration among federal, state, and local governments.
Earlier, GAVI CEO had congratulated the Nigerian government on its innovative health-sector initiatives, including increasing budgetary allocations to health to 4.6 percent and commitment to providing HPV vaccines for adolescent girls, among others. She expressed readiness to collaborate with the Federal Ministry of Health and Social Welfare to
leverage policy instruments and technical expertise to advance health outcomes.
Nishtar announced GAVI's commitment to providing $250 million grant support to Nigeria, as well as its dedication to addressing vaccine inequity in Africa through initiatives like the African Vaccine Manufacturing Accelerator, which has earmarked $1 billion to support the sustainable growth of Africa's manufacturing base for vaccine production.
''Nigeria is a very special country. It is a very special country in Africa. It is a special country in the world and it is a very special country for us in GAVI. There is a dictum in GAVI that says, 'there is no success for GAVI without success in Nigeria','' she said.
The GAVI CEO also informed the President that the GAVI Board would be meeting in the coming weeks to decide on policy decisions that would impact the way Nigeria receives support from the organisation, beyond 2028, and that her visit to the country was for discussions with Nigeria's health managers. Tinubu
NAIRA SUSTAINS GAIN, REACHES N1255/$1 AT OFFICIAL WINDOW, N1,245/$1 AT PARALLEL MARKET
Furthermore, the highest spot rate observed yesterday stood at N1,294 with the lowest spot rate recorded at N1,200.
Meanwhile the Landmark Group has appealed to the federal government to intervene in facilitating the rerouting of about 1.5km out of the 700km stretch of the Lagos-Calabar Coastal Road to its original location on the Water Corporation Road median.
Landmark said it acquired beachfront realty along the Water Corporation Road in 2007 and at the time, the original construction plan for the road, as part of the West Africa coastal highway, was to go through the Water Corporation Road median which to date remains undeveloped.
According to the group’s statement,
in the implementation of the LagosCalabar coastal road construction, the federal government should consider the preservation of tourism and hospitality businesses along the coastal right of way.
It made an urgent call for in-depth consultation with affected businesses to safeguard the tourism and hospitality industry growth.
“The Landmark Group is in the business of creating enabling environments for the provision of world class business, leisure, hospitality and tourism services within its ecosystem, known as Landmark Lagos, located along the Water Corporation Road, Oniru, Victoria Island, Lagos, and along the Road's proposed right of way.
“Worthy of note is that there are
over 80 businesses operating within its ecosystem and it welcomed over 3 million visitors in 2023; a significant number of which were from the diaspora or foreigners who came to enjoy "Detty December" in what is arguably the premier leisure and tourism destination along the West African coastline.
“The Landmark ecosystem has indeed become a cultural phenomenon in Nigeria catering to the aspiring middle class and beyond and helping to establish the culture of 'staycations' for many who would otherwise vacation abroad thus saving millions in foreign exchange.
“ It is also a favoured meetspot, particularly for the younger demographic with our ecosystem
TINUBU TO CORPORATE NIGERIA: I’VE NO EXCUSES TO UNDERPERFORM, I CAMPAIGNED FOR THE JOB
president expressed gratitude for their support and pledged to engage with them more frequently.
He said, "I have no reason to underperform as the elected President of the country because I campaigned for the job. I cannot complain about the job. I appreciate the gesture, and what you have told me this evening is very inspiring. Cut the costs.
“Fix the bends. Summon courage. Save the money, but push the economy. We will be there. There are some countries that have failed. There are some countries that have succeeded. In our time, in my time, all of us must work together to succeed. Thank you very much."
Laying the template for discussion, the president said, "I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency.
''There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development. No matter how flowery the speeches are, not even a mushroom will grow.
''Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance."
He reiterated his commitment to fulfilling his mandate, emphasising that he could not afford to underperform, given the trust placed in him by the electorate.
Sharing insights from his visit to the New York Stock Exchange in 2023, the president noted Nigeria's self-belief and determination to drive economic transformation from within.
According to him, "At the New York Stock Exchange, I appealed to foreign investors to consider Nigeria as a prime investment destination.
"At the end of my remarks, I told them we only want them to show their face and diversify Nigeria’s economy not as if we cannot do it ourselves.
"Tony Elumelu walked up to me and thanked me for making that
statement. We can do it. Nigeria is a self-believer and can always deliver on its own. We know our first name and our last name. Our first name is: Spirit, and our last name is: Can do."
Earlier, in separate remarks at the Ramadan dinner, industrialists, bank executives, and entrepreneurs pledged their support towards the success of the administration’s economic programmes.
Chairman of Heirs Holdings, Mr. Tony Elumelu assured the president that the Organised Private Sector (OPS) in the country is solidly behind him.
“Your transformation journey to turn around the economy and businesses are very appropriate for the country.
“We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the Promised Land.
“We admire your decisiveness, and we appreciate what you are doing. You are extremely passionate about taking Nigeria to the Promised Land.
“On behalf of the OPS, we want to assure you that we are 100 percent with you. We have engaged with your ministers and associates; we share ideas, and we support them. We know that under your leadership, you have the ability to heal Nigeria permanently,” Elumelu said.
Chief Executive Officer, Air Peace, Allen Onyema, charged business owners and manufacturers to work towards bringing down the cost of products and services.
Citing the example of Air Peace in reducing the cost of air tickets to London, Onyema thanked President Tinubu for improving the ease of doing business in the country.
''President Tinubu is thinking of the Nigeria of the future. The ease of doing business is coming back gradually. I can attest to that in the aviation sector because of the people you appointed to head that sector.
''I can also attest to what our High Commission in the United Kingdom did in making Air Peace flights into Gatwick Airport a possibility,” he said.
Pharmacist and founder of Emzor
Pharmaceutical Company, Dr Stella Okoli, on her part, urged the president to look into providing more support for the pharmaceutical industry in the country to make it self-sufficient and self-financing.
Hosting members of the APC Presidential Campaign Council and the Independent Campaign Council to Iftar at the State House in Abuja, Tinubu said, “The economy is looking much better.
“Yes, we have challenges of inflation, but we will bring it down. When the exchange rate was going haywire, it looked like we were asleep, but we worked on it diligently, and it is going down; it is getting better.
"Borrowing was higher a year ago, but today, we are reengineering the financial landscape, and our revenue is expanding. And we are taking up our sovereignty and earning our respect back in the comity of nations."
The president added that the future of the Nigerian child was going to be brighter as the path to take them out of poverty had been cleared with his signing into law of the Student Loans Re-enactment Bill.
According to him, "The only thing that can fight poverty is education. Today, I signed the bill for the Student Loan Scheme. Imagine the children of the poor; what about people going through the mud, fishing in the ponds?
“How do you tell their children that their future will be brighter? It is only through education that we can fight poverty. A promising future awaits our children."
Acknowledging members of the PCC and ICC for their rigorous efforts toward his election, Tinubu said, “It is your footwork and footprints that made me the President. I campaigned on hope, and you promised Nigerians hope and a good result when campaigning for me.
“There are a lot of expectations. I, therefore, have to work hard for it. There is a windy road we are traveling on. We have to navigate carefully. Otherwise, one ends up
frequently featured in Nollywood movies, Afrobeat music videos, influencer social media posts and the like,” the company stated.
Landmark said it supports the contribution of over N1.6 billion in annual tax revenue to various strata of government.
"The Landmark Ecosystem produces over N2 billion in annual tax revenue to various strata of government. Landmark has invested over $100 million (a large part of which comprises debt from both local and foreign sources) to develop the Landmark Ecosystem.
“It boasts an enterprise valuation of $200 million, BBB+ investment grade rating from Agusto & Co. The Landmark Ecosystem welcomes over 3 million visitors annually- both domestic and international. Landmark has received over 30 local, regional and international awards for excellence in property development, tourism and hospitality service delivery.
“Consistently highly ranked as a tourism destination by local, regional and international tourism bodies and experts.
"The ecosystem is only one of a handful of privately owned tourism establishments showcased in the Lagos State Ministry of Tourism, Arts and Culture. The Ecosystem regularly hosts events of a regional or international stature by organisations such as Google, Facebook, YouTube.
“Other events include international conferences and exhibitions, movie premieres, concerts by Grammy awardees or nominees, to mention a few,” it said.
It added that Landmark hosted the only privately run Covid isolation Centre in 2020 in partnership with the Young Presidents Organisation (YPO) and the Lagos State Government and hosted a vaccination centre also.
"It is well known as a 'small business incubator' as the Group supports the development of small businesses with its low entry barrier. The majority of these small businesses are owned or managed by the younger demographic, a large number of whom are women.
“The destruction of this Ecosystem
to make way for the Road would undoubtedly create a huge void which would be very difficult to fill given what the ecosystem represents to many Nigerians and the outsize role the Landmark Ecosystem is playing in spotlighting Lagos as a viable tourism destination on the global stage,” it added.
While describing the coastal road as a laudable project, it said the construction of the Lagos-Calabar Coastal Road stands out as a commendable project as it will connect vital regions of the country and contribute immensely to the growth of the economy, particularly the tourism industry while enhancing employment.
The construction of the road as presently planned, however, it said, portends the destruction of the Landmark Group with the over 80 businesses operating within its ecosystem, thus leading to the demise of a major player in the hospitality and tourism industry, mass unemployment and lost taxpayer revenue, among other socio-economic fallouts.
NERC: ELECTRICITY TARIFF INCREASE WOULD REDUCE GRID COLLAPSES, ENHANCE SUPPLY
Equally yesterday, NERC made available the key indices that led to a review of electricity prices for Band ‘A’ customers from N68 to N225 per kilowatt hour.
In its “Supplementary Order to the Multi-Year Tariff Order (MYTO) 2024”, seen by THISDAY, NERC listed a rise in Nigeria’s inflation by 12 per cent between January and April this year, US inflation upsurge by three per cent, and Nigeria's exchange rate increase by 59 per cent within the four months of 2024 as some of the reasons.
NERC also stated that there had been a 63 per cent rise in generation cost, 34 per cent rise in transmission and administration cost, as well as 11 per cent hike in the price of gas-to-power, saying they are other justifications for the move.
But speaking on the poor electricity supply in recent times due to the national grid collapse, Oseni said it had to do with the reduction in gas supply to some power plants and lack of maintenance of facilities by the generation companies.
He stated, “One factor that was responsible for this last one had to do with the reduction in gas to one of the power plants and also you have the issues of a lack of maintenance by the generation companies.
“The question is what contributed to that were both dip in the supply of gas as well as generation companies’ inadequate maintenance, which boils down to money.
“Any investor will not invest when there is no path to recovery. For instance, the generation invoice for January stood at N240 billion. So, based on the current Distribution Companies (Discos) charges before yesterday, they can only be mandated to pay about 10 per cent of that.
“That means the market will only do about 10 per cent of the invoice and how do you operate such a market and you expect quality service? So, those are part of the issues that we need to address.
“The factors responsible for grid collapse, if there is no liquidity, has serious implication on the quality of supply. Generation Companies (Gencos) not being able to pay for gas supply, not being able to maintain their machines as expected or as required is a recipe for poor quality of supply and grid collapse.
“So, it is part of the issues, that we believe if the market is liquid enough, definitely will be addressed.”
Oseni acknowledged potential short-term inflationary effects of the decision, but expressed confidence that tariff adjustments would lead to long-term improvements in service quality and market stability.
He added that NERC remained committed to addressing industry challenges and promoting transparency in the electricity market.
Oseni added that the establishment of a complaints department underscored the commission's dedication to consumer welfare and service excellence.
He said, “The commission has a number of mechanisms in place for monitoring the performance of the distribution companies. First and foremost, the distribution companies were directed some months back to install smart meters on their feeders, and on the basis of that, they get data being streamed into the data system.
“And initially, we developed an application protocol interface to extract the data from the system and stream the data from the system into the commission. However, we realised that there are
some challenges with that because sometimes the technology also fails.
“So, we now mandated them to grant access directly to the commission into the meter data management system so that as they get information, we are also getting it directly. And as part of the system being put in place, NERC has a call centre that any customers that feel exploited can naturally call. So the call centre has been put in place to ensure that customer’s complaints are addressed.
“In the next few days, the commission would release contacts of the situation room for people who feel exploited or probably have poor service delivery, starting with the 15 per cent that would be affected by this review.”
In addition, in the supplementary order by NERC, it said, “The Discos shall set up a rapid response team to ensure effective service delivery on the committed minimum hours of supply to each service Band commencing with Band A feeders effective from April 3, 2024.
“The team shall ensure timely response to customers’ complaints, fault clearing and alignment with TCN regional teams for effective load management and optimised dispatch to respective feeders.
“Disco's shall publish the contact numbers of the service rapid response team for each customer cluster/business unit on its website and circulate the same to the customers via bulk SMS, commencing with Band A clusters no later than 12 noon, Friday April 5, 2024.
“Discos are obligated to publish daily on its website a rolling sevenday average daily hours of supply on each Band A feeder no later
5 THISDAY • FRIDAY, APRIL 5, 2024 PAGE FIVE
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COURTESY VISIT...
PENGASSAN Tackles FG, States over Nigeria's Alleged N107tn Debt Profile
Onyebuchi Ezigbo in Abuja
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has expressed concern over what it described as outrageous national debt profile that is currently hitting over N107 trillion.
It cautioned against purposeless borrowings which it said could lead to a speedy destruction of the country.
Addressing the National Executive Council (NEC) meeting, PENGASSAN President, Festus Osifo said the menace of the country's borrowings and the consequent increasing debt profile, both at the federal and state levels is like a time bomb with highly catastrophic implications.
"It is worse that these borrowings are not invested judiciously or with
proper accountability. Countries that have benefited from debts and improved their economies did so because they borrowed with purpose and accounted for that purpose with returns to offset their loans.
"The borrowing rate calls for deep concern, especially with the reported increase in FAAC allocations and internally generated revenue. The increased debt profile approaching over N107 trillion, with no corresponding evidence of proper use of the loans is a show of purposeless borrowings and a speedy destruction of our tomorrow and this should be halted," he said.
The PENGASSAN president said the association was of the view that borrowing should be tied to projects that will generate funds for the liquidation of such loans or stimulate other economic activities
that will lead to an improvement in the Gross Domestic Product (GDP) of the country.
He said that the federal and state governments should as a matter of urgency stop trading away the future of the nation and proactively use resources within their means to meet the obligations. Osifo who devoted part of his speech on the assessment of the state of the nation, urged the federal government to rethink its plan to subsidise cost of essential goods in the country.
He said although the move to subsidise essential goods and help cushion the current high cost of living is well-intentioned, its implementation may be counterproductive.
"We are worried about the implementation of targeted subsidies tailored to the specific
needs of each state. While the government's intentions to help alleviate the burden of the cost of living on Nigerian citizens are noble, we must also be mindful of the potential implications of such a subsidy.
"It is important that we carefully consider the long-term effects of this policy and explore alternative solutions that can address the root causes of poverty and inequality in our society as giving of handouts alone cannot completely solve the problem," he said.
Osifo further expressed concern over kidnapping incidents in the country, saying that it has become a grave threat to the safety and security of the society, and shaking the very foundations of the nation.
He said that as at the last count, over 1,400 Nigerian students and pupils have faced this terror tale.
IPMAN Urges NNPC to Account for Funds Spent on Kolmani River Oil Drilling Campaign
Peter Uzoho
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stressed the need for the Nigerian National Petroleum Company Limited (NNPC) to explain to Nigerians how funds deployed for the drilling of oil at the Kolmani River between Bauchi and Gombe states were expended.
The Principal Consultant to IPMAN, Mr. Maurice Ibe made the call Wednesday night while featuring on the Prime Time, a programme on Arise News Channel.
He also joined other enthusiastic Nigerians in welcoming the eventual supplying of diesel and jet-fuel to the local market, but cautioned that the impact of the supplies would not be felt by the citizens until after some days.
Responding to a question on the seeming abandonment of the Kolmani drilling project 16 months after former President Muhammadu Buhari flagged off the project with a lot of fanfare and publicity, Ibe said NNPC was the right authority to provide information on what happened in the project.
The Kolmani River Field, located in-between Bauchi and Gombe States in the Upper Benue trough, had been estimated to hold about 1 billion barrels crude oil reserve and 500
billion cubic feet of gas deposit.
Also, the Kolmani Integrated Development Project, which had reportedly attracted Foreign Direct Investment (FDI) of about $3 billion, was designed to house a 120,000-barrels per day refinery, a 500-million standard cubic feet per day gas processing plant, a 300-megawatt capacity power plant, and a fertiliser plant of 2,500 tons per day.
NNPC is the developer of the field in partnership with the Northern Nigeria Development Company Limited (NNDC), a company owned by the 19 northern states, and the asset operator, Sterling Global, a Nigerian affiliate of the Indian Sandesara Group.
According to the IPMAN consultant, many of the members of the association had argued for and against the drilling campaign in Kolmani, adding that some people think it was a waste of resources.
Ibe maintained that a lot of money had been spent in the process, noting that NNPC needed to tell the country everything concerning the drilling campaign.
He said: "Honestly, I will try not to delve into that issue. It's actually within the realm of NNPC. The are better informed, they have the data, they have the feasibility, they are the one supervising that project. So, I will
not want to delve into discussing that issue in Bauchi.
"A lot of members have argued for and against it. Some think it's a waste of resources, others think that it was good to explore. So I would stay neutral on that. I think NNPC would be the better people to speak on what is happening with.
"Frankly, there is a lot that meets the eye, but we don't have all the information. We are not on the ground. A lot of money has been spent.
"A lot of money has been abused in that process, and what we are saying is that NNPC needs to tell the country what is happening, what has happened, how the resources have been deployed and what has been achieved.
"If it is a total waste of resources, the country needs to know and somebody needs to account for it. But for now, nobody so far is saying anything," he stressed.
However, speaking on the supply of products to the generality of filling stations in Nigeria by Dangote Refinery, Ibe described it as a welcome development, but cautioned that the actual impact on the market would not be felt immediately.
"However, the impact will not be felt fully probably till the next couple of days. The trucks that are
trucking this products are making their way to various sections of the country. So, the actual impact of the move by Dangote Refinery will not be fully felt by our members and also by the generality of Nigerians till the next couple of days.
"So, I wouldn't want to precipitate and answer in terms of the impacts, but let's wait a little bit and see what happens," he stated.
He said IPMAN had been at the forefront in advocating that the public refineries be made functional.
He said several refineries in the country have been virtually comatose for many years and billions of dollars spent on them without the refineries being able to produce a single litre of petroleum products.
He noted that the key to solving Nigeria's problem was the effective functioning of the idle refineries. "The government must do more, pressure more on those currently servicing this refineries to get them functional. Dangote is doing his best. We really applaud him for what he has done.
"But the country still can't and will not feel the effect of Dangote Refinery for now because if you look at the price at the pump, PMS is still N680, N660 in some places, some parts of the country are selling at N700 per litre", Ibe argued.
Osifo also used the opportunity to brief the NEC meeting on the milestones recorded by the association including improvement in members welfare and the restructuring of the internal operations of PENGASSAN.
He said: "Our association has been repositioned. It is now rooted
in professionalism, security of jobs, enhancement of welfare and benefits, national patriotism, respect for members and upholding employees in high esteem.
"I wish to inform our dear NEC members that we have succeeded in pushing the boundaries of pay packages in the industry.”
Get Properly Accredited or Risk Blacklisting, Engineering Council Warns UNICAL, Adamawa Varsity
Emmanuel Addeh in Abuja
The Council for the Regulation of Engineering in Nigeria (COREN) has urged the University of Calabar (UNICAL) Cross Rivers State and the Modibbo Adama University Yola, Adamawa State, to get their engineering programmes accredited or risk blacklisting.
In a press release after its 181st ordinary council meeting made available in Abuja yesterday, the council reminded the institutions that one of its mandates is to ensure quality assurance of engineering training institutions, firms and operators.
The resolution signed by the Registrar of COREN, Prof. Adisa Bello, stressed that this is carried out through the accreditation of engineering programmes in Nigerian universities, polytechnics, monotechnics and technical colleges.
In compliance with the provisions of the Act, Section 1(1), it stated that it was part of determining who an engineering practitioner is, what standards of knowledge and skill are to be attained as well as establishment and maintenance of the registers of persons entitled to practice.
COREN recalled that at the end of its 179th ordinary council meeting, it had enlightened the general public about the accreditation status of institutions running engineering programmes without approval from COREN and others with failed accreditation. Consequently, it pointed out that some of the institutions rectified their accreditation anomalies and are now running approved engineering programmes.
“However, the under listed universities have been written officially to call for accreditation of their programmes as presently
their programmes are illegal and they need to rectify the abnormalities but there has not been any positive response from any of them,” it stated.
COREN listed them as Modibbo Adama University Yola, Adamawa State, which its agricultural engineering programme failed accreditation, explaining that the accreditation for the school’s civil engineering, elect/elect engineering, chemical engineering as well as mechanical engineering programmes expired in 2020 and 2021.
As for UNICAL, COREN revealed that the institution is currently running engineering programmes up to 300 level without resource verification/pre-accreditation by COREN.
In accordance with section 12 of the Federal Government Gazette No.113 of March 3, 2023, it stated that in the case of violation of any provision, COREN shall enforce the withdrawal of accreditation or non-recognition of graduates of such programmes for registration as engineering practitioners or both.
“The general public is also being notified that: COREN is hereby notifying the affected universities to rectify the abnormalities and get the programmes accredited before the commencement of the next academic session.
“Failure to rectify their nonaccreditation status will result in blacklisting them as non-accredited institutions whose graduates of engineering programmes will not be recognised for registration as engineering practitioners and will lack the legal backing to practice engineering in Nigeria.
“Engineering practitioners are hereby reminded to obtain their Annual Practicing License (APL) for 2024 in order to comply with the law regulating engineering practice in Nigeria,” it added.
6 THISDAY • FRIDAY, APRIL 5, 2024 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322
L-R: Director of Finance and Personnel Management of NCDMB, Ifeanyi Ukoha; Assistant General Manager, Projects & Business Development of NMTL, Ikemefula Chikwendu; Executive Vice Chairman of NMTL, Norbert Chukwumah; Executive Secretary of NCDMB, Engr. Felix Omatosola Ogbe; General Manager, Business Development & Corporate Affairs of NMTL, Obehi Ojeaga; Finance Director of NMTL, Smart Idahosa during a courtesy visit in Lagos …yesterday
FRIDAY APRIL 5, 2024 • THISDAY 7
NLNG’S HOSPITAL SUPPORT PROGRAMME (HSP) DONATED TO JUTH..
L-R:
CIFCFIN to Partner Ministry of Finance, EFCC to Enhance Revenue Growth
Bennett Oghifo
The Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN) is planning a tripartite partnership with the Ministry of Finance and Economic and Financial Crimes Commission (EFCC). This, it said, is to provide technical forensic support and assistance to the federal government in enhancing revenue improvement,
fiscal discipline, accountability, and transparency in the management of government resources.
This was disclosed by the Institute’s President, Dr. Iliyasu Gashinbaki at its 6th direct training and award of fellowship which took place at the EFCC Academy in Abuja, according to a statement by the institute. Also in the works, the group said, is collaboration with the Revenue Mobilisation, Allocation
and Fiscal Commission (RMAFC), to conduct a comprehensive resource disbursement and value-for-money forensic audit. Gashinbaki said. “It is an ambitious initiative to establish a transparent tracking system for government disbursements, ensuring accountability and traceability of all funds allocated.”
Meanwhile, discussions have reached an advanced stage with the Federal Ministry of Budget
and Economic Planning to collaborate with the institute to undertake risk profiling, analysis, and investigations into issues associated with economic sabotage, financial mismanagement and non-compliance with budgetary regulations.
“Through these partnerships, we believe that the institute can significantly contribute to promoting good governance, transparency, and accountability
BUA Commences Construction of N250m Administrative Block in Al-Qalam Varsity
Commits
$100m yearly for health, education
Francis Sardauna in Katsina
The AbdulSamad Rabiu Africa Initiative (ASR Africa) has commenced the construction of a N250 million administrative block and a conference room for the Al-Qalam University in Katsina State.
The project, an initiative of the Chairman of BUA Group, AbdulSamad Rabiu, is part of his 2022 Tertiary Education Grant Scheme (TEGS), which covers 22 tertiary institutions in Nigeria.
Speaking during the ceremonial ground-breaking of the project Thursday, the Managing Director of ASR Africa, Dr. Ubon Udoh, said education is a priority area of intervention for ASR Africa and its chairman.
He said the chairman of ASR Africa was committing $100
million every year to support health, education and social development sectors in Nigeria and Africa at large. He said: “The Abdu Samad Rabiu Africa Initiative gives grants every year to tertiary institutions to support infrastructure and other aspects of tertiary education. Presently, we have 30 tertiary institutions across Nigeria that are benefiting from this kind of intervention.
“We have a very tedious process of selection, including the performance, vision of existing management structure, and NUC ranking. Al-Qalam University scored very high, especially on the private side of the institutions, and they benefited over N250 million grant”. Udoh said the chairman of BUA group was passionate
about Africans and Nigerians taking responsibility for their own solutions, hence the establishment of ASR Africa to intervene and create home-grown solutions to Nigeria's challenges.
He assured that the project would be completed within six months, adding that the institution must focus on its sustainability and ensure it serves the purpose for which it was designed for.
He commended the management of Al-Qalam University for their cooperation with the ASR Africa infrastructure team by providing prompt feedback and required documentation on the project to ensure its take-off.
Earlier, the Vice-chancellor of the University Prof. Nasiru Yauri, commended the Chairman of ASR Africa and the BUA Group, for finding their institution worthy
of the grant.
He emphasised that the project, identified by the university, is one of its priority needs, as the institution was set to launch its College of Allied Health Sciences for the 2023/2024 academic year, hence the need for a befitting infrastructure for the laudable purpose.
He said: “Upon completion of this project, staff and students under the Bachelor’s Degree programmes in Nursing Science, Public Health, Radiography, Physiotherapy, Optometry, and Medical laboratory in the 2023/2024 academic year, will have lecture rooms and offices for their programmes.”
He applauded the management of the initiative and the chairman of BUA Group for their timely intervention in the project.
in the Nigerian public financial management systems,” Gashinbaki asserted.
On the new members and fellows of the institute, Gashinbaki charged them to consider the greater purpose of their profession and be shining lights for others to follow.
“From today, you are now change agents and change makers who are duly enlisted in the anticorruption army that will transform Nigeria into greatness. As certified professionals and fellows, you have been equipped with the knowledge, tools, skills, and ethical foundation necessary to make a positive impact
on your communities and the nation at large.
“Beyond your personal success, you are now bestowed with the duty to assist government in combating corruption, recovering stolen assets, preventing financial crimes, supporting economic development, strengthening legal system, and most importantly, offering a comprehensive approach to poverty alleviation in Nigeria and Africa,” he added.
Forty seven members were awarded fellowships and 110 graduated as certified members of the institute at its 6th direct training and awards of fellowships.
3rd Mainland Bridge Reopens, Weeks after Closure
Emmanuel Addeh in Abuja
The federal government yesterday directed the official reopening of the 3rd Mainland Bridge in Lagos, nearly three months after the critical road infrastructure which links the Island to the Mainland was shut down for rehabilitation.
A statement by the Director of Information in the ministry of works, Ben Goong, stated that the directive was given by the minister overseeing the ministry, David Umahi in a phone call in the early hours of Thursday.
It stated that Umahi directed the Controller of Works, Lagos State, Mrs Olukorede Kesha to open the bridge to traffic in order to ease the stress which motorists had been subjected to, during the period of the first phase of rehabilitation works on the bridge.
He quoted the minister as saying that the successful completion of the first phase of the rehabilitation works which was started and completed by the Bola Tinubu administration was a clear indication that the government is working . Umahi called on all Nigerians to continue to have faith in the “Renewed Hope Agenda” of the president ,maintaining however, that nothing good comes so easy. The minister pointed out that work has already begun on the underwater damage to the bridge, which is the second phase of the rehabilitation works on the bridge.
Similarly, the minister said that rehabilitation works will commence on the Carter Bridge in the coming weeks, adding that the contractor had already been mobilised.
Group Calls for Review of N’Delta Pipeline Surveillance Contracts
Folalumi Alaran in Abuja
In the wake of a tragic incident in Okuama, Delta State, where 17 soldiers lost their lives, the Niger Delta Ethnic Nationalities Youth Leaders have called on the federal government to reassess the pipeline surveillance contract awarded to a private firm, Tantita Security Services Nigeria Limited, insisting that such responsibility should be vested in the military.
Speaking at a press conference in Abuja yesterday, the group through its spokesman, Collins
Idowu, called on President Bola Tinubu to thoroughly review the current arrangement and not entrust the security of oil infrastructure to individuals with a history of militancy.
Idowu recalled the controversial circumstances surrounding the contracts which include its initial non-award by President Muhammadu Buhari, raising suspicions of conflicts of interest involving stakeholders in Tantita. Idowu further noted that the group was cognisant of the complex economic landscape of Nigeria and
firmly believe that the surveillance of the oil pipelines, particularly within the Niger Delta and Delta State, should not be relegated to entities with ‘questionable’ backgrounds.
“Niger Delta Ethnic Nationalities Youth Leaders are urging President Bola Tinubu, to cancel the current pipeline surveillance contract awarded to Tantita Security Services Nigeria Limited. With respect to national security and the integrity of our nation's economy, we implore the president to critically reassess this contract.
“The security of oil infrastructure cannot, by any means, be placed in the hands of individuals with a history of militancy, which poses a significant threat to the stability of Nigeria's economic backbone.
“We are cognisant of the complex economic landscape of Nigeria and firmly believe that the surveillance of our oil pipelines, particularly within the Niger Delta and Delta State, should not be relegated to entities with questionable backgrounds.
“
It is imperative to highlight that the initial non-award of this
contract by President Muhammadu Buhari, only to be later granted under controversial circumstances, suggests potential conflicts of interest involving stakeholders in Tantita,” je said.
The group opined that the leadership of Tinubu has been marked by numerous commendable initiatives, and his dedication to the nation's progress is well recognised. “However, we are compelled to question the prudence of entrusting our critical economic assets to those who have previously orchestrated
disruptions in the sector.
“The potential for regression is immense if the security measures around our oil pipelines are perceived as being in the hands of militants, which could result in catastrophic consequences for future governmental transitions.
“We conclude this conference with a fervent plea to President Tinubu: Protect our nation's future and economic stability. Your decisive action in this matter is not only anticipated but necessary for the continued advancement of Nigeria.” it said.
NEWS
8 THISDAY • FRIDAY, APRIL 5, 2024
The Gbwom Gwom Jos, Da Jacob Gyang Buba; NLNG’s GM, External Relations & Sustainable Development; Andy Odeh, Plateau State Governor, Caleb Mutfwang; Kachollom Daju, Perm. Secretary, Federal Ministry of Health; and CMD, Jos University Teaching Hospital (JUTH), Dr. Pokop Bupwatda, during the inauguration of NLNG’s Hospital Support Programme (HSP)-donated Twin Theatre at JUTH, Jos on Wednesday
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Global Rights Bemoans Escalating Attacks on Media by Nigerian Security Personnel
Global Rights, an international human rights and governance capacity-building non-governmental organisation, yesterday condemned what it termed the recent spate of attacks on members of the press by law enforcement and security agents.
In a statement in Abuja, the group stated that it considers it pertinent to sound the alarm on the incidents while informing the powers that be that human rights actors and civic space defenders are taking stock of President Tinubu’s administration’s approach to protecting media rights.
It recalled that one such attacks took place on the of March 15, 2024, when Mr. Segun Olatunji, an editor with the FirstNews Newspaper, was unlawfully taken from his home
in Lagos by a mob of 10 officers of the Nigerian military.
The statement signed by its Executive Director, Abiodun Baiyewu, said Olatunji was not informed of the reason for his arrest prior to his abduction.
It added that he was eventually released after a sustained media campaign spanning nearly two weeks without being charged with any crime.
“Mr. Olatunji, in narrating his ordeal, affirmed that he was handcuffed and leg chained for three days. The only window he was offered into why he was arrested and subsequently tortured was when he was asked about a critical story his newspaper had published about the unprofessional manner in which the Defence Chief was running his agency.
KSU Chancellor, Olowolafe, Launches N1bn Innovation Fund for Undergraduates
The Chancellor, Ekiti State University, Ado-Ekiti, Dr Tunji Olowolafe, has announced a N1 billion innovation fund designed to empower agro-tech companies founded by present graduates and students of the institution.
Olowolafe announced this at the 28th convocation ceremony of EKSU held 3rd and 4th of April 2024 while also thanking the visitor of the university and Governor of Ekiti State, Biodun Oyebanji, for finding him worthy to be appointed as Chancellor.
He said: “The 1 billion naira Innovation Fund is designed to empower agro-tech companies founded by present graduates and students of our great Ekiti State University.
“The general discussion in Nigeria is about cost of living and food security. All of us eat. But many of us do not spend time to think about what we eat, how it is produced and how did it get to our tables. These are very important questions.”
In his address, which dwelt on the need for students and academic staff to imbibe the culture of diversity and engage in food production efforts, Olowolafe also harped on the vast potential of agriculture and its essential role in the growth of the nation’s economy.
He said: “My passion lies in nurturing inclusive and sustainable growth within our local communities. Agriculture stands as the backbone of our
nation, and it is here that I see the greatest potential for innovation and economic prosperity.
“As we give awards to the best academic students, we can also give awards to the best agro entrepreneurs on campus. Some can do grains while others do vegetables. Some can do poultry while others can do fisheries. Some can even do logistics whilst others do apps.”
Olowolafe noted that the EKSU campus is located on very fertile land, thus, he added: “Let us see how we can optimise the use of this land for agricultural purposes. Each student can lease a small plot of land for production. As we learn to pass our exams, we can also use these farms to eat and earn a living. There is no age or gender restriction.”
A trained medical doctor, successful businessman, and philanthropist, Dr Olowolafe said: “Our work does not stop with agriculture. I believe in harnessing the untapped potential of our youth, particularly in fields like business process outsourcing.
“This sector presents a world of opportunity for our graduates, especially those from Ekiti State University to immediately contribute to the global economy. To this end, I am excited to create a platform for 100 of the brightest minds from our esteemed institution to engage in meaningful, sustainable work that challenges them and grows their skills.”
“Another egregious encounter that further symbolises the posture of the administration on the press is the consistent harassment of the Foundation for Investigative Journalism (FIJ).
“The FIJ is a reputable media organisation, well known for publishing an exposé on government corruption and bad governance. Last week, Ms. Bukky Shonibare, its Board of Trustees Chair, was invited by the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) ostensibly to “answer questions about cybercrime” and clarify matters about a case the police was investigating. “Ms. Shonibare honoured the
police’s invitation, accompanied by her lawyer. At the police station, she was consistently grilled about the kinds of stories the FIJ publishes. In one of many displays of a lack of understanding of journalistic ethics and the role of the media, the police asked why stories were not first cleared with law enforcement before being published,” the group added.
Global rights argued that the actions were most unbecoming in a country that claims to practice democracy.
The arrest, detention, intimidation, and harassment of journalists simply on the grounds that they publish stories that run counter to the narratives of the government, it
said, is unabashedly undemocratic.
Worse still, it maintained that it is also unconstitutional since Section 22 of the 1999 Constitution of the Federal Republic of Nigeria unambiguously charges the press with the responsibility of holding the government accountable to the people.
The drafters of the Constitution, it said appreciated the fact that Nigeria’s hard-earned democracy could be undermined if the press was stifled by autocratic civilian rulers.
“These fears are understandable and are anchored on the knowledge that Nigeria’s history is replete with instances in which powerful
individuals in government had gone to great lengths to silence members of the press who have criticized them,” it explained.
Consequently, Global Rights demanded a thorough investigation of the circumstances surrounding Mr. Segun Olatunji’s ordeal while officers indicted in his arbitrary arrest and torture should be dismissed and made to account for their abuse of power.
It also demanded an official apology from the Nigerian military’s top brass to Olatunji, while the military must also take steps to compensate him for the ordeal he unlawfully suffered at the hands of its personnel.
GTA Conference Deal Room to Facilitate Investments for African Start-Ups
Mary Nnah
The Global Tech Africa (GTA) 2024 Conference is poised to provide investment opportunities for African start-ups through its Deal Room initiative.
In partnership with One Africa, the Deal Room aims to promote innovation, support emerging startups, and contribute to economic growth in Africa.
The conference, scheduled for July 24 to 26 at the Landmark Event Centre, Victoria Island, Lagos, focuses on "Global Collaborations, Local Transformations."
Guided by the recently launched Nigeria Start-up Act, GTA aims to harness Africa's tech potential for growth and development.
The conference will collaborate with stakeholders, run capacity development programmes, facilitate policy formulation, and uncover investment opportunities. The Deal Room is part of the broad GTA objective and aims to pave the way for tech-driven advancements in Africa.
The President of Ascend Studios Foundation and Implementing Partner of the GTA, Dr. Inya Lawal, who spoke on the forthcoming conference, said: "This year's GTA Conference promises to be a dynamic platform where global collaborations will catalyse local transformations in Africa's tech scene. I anticipate impactful discussions, actionable initiatives, and significant strides towards advancing our tech ecosystem."
GTA is a leading platform for collaboration between African and international tech stakeholders, fostering connections, dialogues, and potential partnerships that will pave the way for the growth of Africa's tech ecosystem.
Olori Boye-Ajayi of One Africa expressed enthusiasm about the collaboration with GTA and the role of facilitating the Deal Room. She said, "Our partnership with GTA aims to foster innovation, support tech start-ups, and promote economic growth. The Deal Room will offer a transparent and conducive environment for potential collaborations between tech companies and investors, driving impactful outcomes in the industry."
Global Tech Africa (GTA) Conference brings together African, international and local government representatives, investors, founders, development partners, academia, inventors, tech enthusiasts, and other relevant stakeholders in Africa's tech ecosystem to unlock growth opportunities and build the continent's tech ecosystem. The conference is a Future Map Foundation (FMF) initiative designed and implemented by Ascend Studios Foundation (ASF).
GTA is in partnership with the National Information Technology Development Agency (NITDA), the United States Consulate, IHS Towers, Business Sweden, the American Business Council, and the Venture Garden Group.
Effective Leadership Imperative for Organisational Success, Says Sanwo-Olu
Mary Nnah
The Governor of Lagos State, Mr. Babajide Olusola SanwoOlu, yesterday underscored the significance of effective leadership for organisational success and resilience.
He spoke during his address on "Unleashing Your Leadership Capabilities" at the HR Expo Africa (HREA) Work Festival 2024 held in Lagos.
The governor contended that leadership in the 21st century entails an agile, empathetic, and
visionary approach that transcends hierarchical structures and fosters collaboration, empowerment, and continuous learning. Furthermore, Sanwo-Olu noted that unleashing leadership capabilities in this era of unprecedented change necessitates a fundamental shift in mind-set.
He argued that leadership is no longer synonymous with authority and control, but rather with inspiration, influence, and service. Therefore, leaders, he said, must create an environment where every individual feels valued, supported,
and empowered to unleash their full potential.
The governor also highlighted the focus of successive administrations in Lagos, which has been on promoting innovative infrastructure development, economic growth, and social welfare programmes. He stated that these were aimed at improving the quality of life for Lagos residents. Additionally, the governor emphasised that inclusivity and diversity are critical pillars of the success of any organisation. Sanwo-Olu further stated that
another key priority of the state is to leverage its youth population, given that Africa has a booming youth population and investing in youth leadership development is crucial for tackling global challenges and shaping a brighter future.
“Africa has a booming youth population, the fastest growing and youngest in the world, and this presents a unique opportunity for global leadership. With one in four people on the planet being African, the world is increasingly looking to Africa for innovation and solutions.
Emmanuel Addeh in Abuja
NEWS
16 THISDAY • FRIDAY, APRIL 5, 2024
L-R: Deputy National Organising Secretary, APC, Nze Duru receiving Nomination and Expression of Interest Forms from Senator Jimoh Ibrahim and Senator Tayo Alashoaduraat APC National Secretariat in Abuja ... yesterday ENOCK REUBEN
L-R: Deputy National Organising Secretary, APC, Nze Duru receiving Nomination and Expression of Interest Forms from Ondo State Governor, Lucky Aiyedatiwa at APC National Secretariat in Abuja...yesterday ENOCK REUBEN
ONDO GOVERNOR AND JIMOH IBRAHIM SUBMIT NOMINATION AND INTEREST FORMS
85TH BIRTHDAY THANKSGIVING SERVICE OF CHIEF ODEYEMI...
Tinubu Rejoices with Oshiomhole at 72
Deji Elumoye in Abuja
President Bola Tinubu has congratulated a member of the National Assembly, Senator Adams Oshiomhole, on the occasion of his 72nd birthday on April 4, 2024. Oshiomhole was President of the Nigeria Labour Congress (NLC) from 1999 to 2007; Governor of Edo State from 2008 to 2016, and National Chairman of the All
Progressives Congress (APC) from 2018 to 2020. The President, in a statement issued yesterday by his Media Adviser, Ajuri
Ngelale, joined the family and friends of the Senator in celebrating his close ally and a man for all seasons. "Comrade Adams
Oshiomhole is of strong character. He is ever so committed to his principles, unbending and fearless in the pursuit of a just cause.
“He is a man you can take to battle and be sure of victory. He is fiercely loyal and stands firmly by what he believes in," Tinubu said.
The president thanked Oshiomhole for his fervent support while asking God Almighty to grant him many more years in good health.
Obi Donates N10m to Mission Hospital in Anambra to Boost Healthcare
David-Chyddy Eleke in Awka
A former governor of Anambra State and presidential candidate
Minister: We're Working on Payment of Allowances Owed Nigerian Scholars Abroad
The Minister of Education, Prof. Tahir Mamman has pledged the readiness of the federal government to offset the 10-month outstanding allowances to Nigerian scholars abroad, amidst the mounting pressure from parents and complaints that the default in payment is taking a toll on the studies of the Nigerian scholars in foreign lands.
The students are owed 10 months allowance and there are reports that the situation is having serious consequences on their programmes.
Responding to a THISDAY enquiry on the plight of the students and the complaints by their parents, the Minister disclosed that the government is putting the finishing touches to the payment arrangement, which he said was delayed by the current instability in the foreign exchange rates in Nigeria.
When confronted that some parents of scholars, especially those in Russia are becoming restless as the rising cost of living in the country is pushing Nigerian scholars to do menial jobs at the detriments of their studies, the Minister said, “The government is ramping up efforts to pay their allowances.”
The Minister said the rise in the forex rate has significantly affected the federal government’s budget for scholarships and that this has necessitated a return to the drawing board to capture the current reality.
He said, “Back home too, the rise in forex exchange has impacted our approved budget of 2023 for the scholarships which means the naira available will buy less dollars and in consequence the available forex to pay to students. But overall, we
are doing everything possible to ease the situation for the students.
For the Nigerian scholars in Russia, the situation is worse given the level of hardship facing the people as a result of the war between Russia and Ukraine. There were reports that some of the students had to settle for menial jobs and engage in distraction which is already causing academic setbacks to them.
A spokesperson for the parents' group, Mr. Kola Benson said that since last year June, when the students received their last payment, they have not been paid since then and that most of the parents have to beg relatives for them to send small financial support to their wards.
“The poor economic situation in Nigeria is making it difficult for many of the parents to do anything meaningful and the children are frustrated.
“We are begging President Bola Tinubu to bail us out so that the children would not be pushed by hunger to do what they are not supposed to do since their families are not in Russia,” the spokesperson said.
As of today, Nigerian students studying in Russia, Morocco, Algeria, China, Hungary, and other countries, on the Federal Government’s scholarship are owed a 9-month allowance and this culture of delayed payment seems to have come to stay.
The students are studying under the Federal Government’s Bilateral Educational Agreement Scholarship with partnering countries, a scheme supervised by the Federal Scholarship Board under the Ministry of Education.
of the Labour Party in the 2023 general elections, Mr Peter Obi, yesterday presented a cheque of N10 million to the College of Nursing Sciences, St. Charles Borromeo Specialist Hospital, Onitsha, Anambra State.
Obi said the gesture was part of his annual support to critical sectors, especially, health, education, environment, saying the donation was meant for 2023, but he could not visit the school because of electoral activities.
While presenting the Fidelity Bank cheque to the College management, Obi explained that it was part of his own way of giving back to the society, what God has given to him,
adding that nurses play critical role in moulding a healthy and virile nation.
He said: "We need to start contributing our quota to the development of critical institutions like this that train nurses. I am sure that in time to come, this school will move to greater heights.
"Nurses are very critical as they are the ones who direct the doctor on what to do. The Nurse owns the patient, their job is critical and it is needed globally. Nursing is one profession that the world needs.
"Ours is to continue to support. I will continue to offer my annual yearly support. Last
year, I did not come because of activities that took my time. "All we are doing today is giving back what God has given to us, it is not by our own power. I came to support the college, the students, the health workers and the management team and we will continue to pray for your success."
“This place was first a school, but was upgraded to a college by the federal government trusting that the students who would come will justify it.
"We are here today, because of Peter Obi. This place is a college because of the students and we urge them to keep the flag flying, they should maintain and surpass the record of their predecessors and justify the confidence repose on them.”
Proprietor of College of Nursing Sciences, St. Charles Borromeo Specialist Hospital, Most Rev. Valerian Okeke, who is also the Archbishop of Onitsha Catholic Diocese commended Obi for his continuous support of the college. Okeke said: "Mine is to thank God and thank our former governor. He has continued to support the college even when he left office. We also thank others for their goodwill and continuous support and the trust repose on the college.
Barau Emerges Acting Speaker of ECOWAS Parliament
Sunday Aborisade in Abuja
Deputy President of the Senate, Jibrin Barau, has emerged as the acting Speaker of the Sixth Legislature of the Parliament of the Economic Community of West African States (ECOWAS). Barau, who is the leader of the Nigerian delegation to the ECOWAS Parliament, emerged during the inaugural session of the assembly held in Abuja on Thursday.
The Deputy President of the Senate was first nominated as the 1st Deputy Speaker of the ECOWAS Parliament by Rep Awaji-Inombek Abiante and
seconded by Senator Ireti Kingibe. In accordance with the rotational system established by Decision A/DEC. 6/06/06 of the ECOWAS Authority of Heads of State and Government, the Speakership of the Sixth Legislature of the subregional body has been zoned to the Republic of Togo.
However, during the inauguration of the Sixth Legislature of the ECOWAS, the delegation of the Republic of Togo was not present; hence, a Speaker Pro-tempore, Edwin Melvin Snowe JR, a Liberian, was elected.
Snowe JR presided over the inaugural session of the Parliament,
including the election of the four deputy speakers.
He said in order not to create a vacuum, Barau, as the 1st Deputy Speaker, will act as the Speaker of the Parliament pending when the Togolese delegation is inaugurated.
Adjaratou Traore Coulibaly (Cote D' Ivoire) emerged as 2nd Deputy Speaker; Honourable Alexander Kwamena Afenyo-Markin (Ghana) was elected 3rd Deputy Speaker and Honourable Billay G Tunkara (Gambia) emerged as Fourth Deputy Speaker.
Lawmakers from Nigeria, Benin Republic, Burkina Faso, Cabo Verde, Cote D' Ivoire, Gambia, Ghana, Guinea, Guinea Bissau,
Liberia, Senegal and Sierra Leone were inaugurated as members of the Sixth Legislature of the ECOWAS.
The ECOWAS Parliament, also known as the Community Parliament, is one of the institutions of the ECOWAS. It is the Assembly of Peoples of the Community, serving as a forum of dialogue, consultation and consensus for representatives of the people of West Africa to promote integration.
The ECOWAS Parliament which was established under Articles 6 and 13 of the ECOWAS revised treaty of 1993, is composed of 115 seats.
Lawmaker Assures Adequate Funding of Student Loan
Juliet Akoje in Abuja
Chairman of the House Committee on Student's Loans, Hon. Gboyega Isiaka, has assured Nigerians of the present administration's resolve towards ensuring adequate funding of the loans for the benefits of Nigerians studying in public-owned tertiary institutions across the country.
Isiaka, while briefing the press in Abuja, disclosed that the quantum of funds required for successful
implementation of the loans woulld be drawn from one per cent of all revenues accruing into the Federation Account.
He explained that the repeal of the initial Student Loan Act was necessitated with a view to removing all the encumbrances that could deprive a lot of Nigerian Students from accessing the Loan. "The patriotism and determination to make sure that this is a sustainable success still made the Executive and Mr.
President in particular to present those far-reaching amendments which has not become law.
“The law has amended so many shortcomings in the 2023 law in the area of fund that we have. Now we have a known corporate entity that is called Nigerian Education Trust Fund.
“We now have an institution that is strong, sustainable and comparable to what we have in different parts of the world and going by all that will come into it.
"I am satisfied in my mind that the Nigerian government under President Bola Ahmed Tinubu has done so well for the Nigerian educational sector. The Executive will expedite action on the setting up of the management team of the Institution without further delay.
“The management of the National Education Trust Fund when constituted will be given a marching order to commence work in earnest for the benefit of millions of Nigerian Students."
NEWS
L-R: Co-Founder, Eko Hospital , Olorogun Sunny Kuku; Asiwaju of Ife, Chief Alex Oduduyemi; the celebrant, Chief. John Odeyemi; Ooni of Ife, Adeyeye Ogunwusi;and Archbishop of Anglican Communion, Ibadan Province, Archbishop Abiodun Olaoye, at the 85th birthday Thanksgiving service of Chief John Odeyemi held at the Archbishop Vining Memorial Church Ikeja, Lagos...yesterday ETOP UKUTT
17 THISDAY • FRIDAY, APRIL 5, 2024
ALL FOR WATER…
L-R: Engr Emeka
DHQ: Armed Forces Fighting Vicious Foes, Prepared to Hunt Down Enemies of State
Vanquish 2,251 terrorist leaders, others in three months, arrest 2,308 insurgents, rescue 1,241 kidnap hostages, recover 2, 847 weapons IG: 3,685 crime suspects arrested in eight weeks
Kingsley Nwezeh in Abuja Defence Headquarters (DHQ), yesterday, declared that the Armed Forces of Nigeria were engaged in a battle against vicious foes but remained prepared to contain the enemies of state.
It said from January to March 2024, 2,351 terrorists were neutralised, 2,308 insurgents arrested and 1,241 kidnapped hostages rescued even as troops recovered 2,847 weapons, 58,492 ammunition and prevented oil theft of an estimated sum over N20 billion within the period under review.
This came as the InspectorGeneral of Police, Kayode Egbetokun, said police arrested
3,685 suspects, rescued 401 kidnapped victims, and recovered of 216 firearms, 3,601 ammunition, and 82 vehicles in past eight weeks.
Speaking at a media briefing in Abuja, the Director Defence Media Operations (DDMO), Maj Gen Edward Buba, said security forces battled "a vicious enemy" which armed forces were determined to contain.
"The armed forces are fighting a vicious enemy in the ongoing operations across the country. Nevertheless, the military is ready, prepared, equipped and focused on what to do with these terrorist and their cohorts.
"Surely, we have been collecting intelligence, hunting them and striking them
Former Governor, Minister Intensify Campaign for PDP Chairmanship Position
Chuks
Okocha, Sunday Aborisade in Abuja and George Okoh in Makurdí
A former governor of Benue State, Senator Gabriel Suswam and Minister of Police Affairs, Humphrey Abah, have intensified their consultations over their aspiration for the national chairmanship of the Peoples Democratic Party (PDP).
Both of them are from Benue State, in the North Central zone, the same state where the embattled former national chairman, Iyorchia Ayu, hails from
It is expected the PDP National Executive commences (NEC) will announce a replacement for Ayu, who was suspended last year by his ward in Gboko in Benue State
While THISDAY learnt that Suswam had taken his consultations to former presidents and vice presidents to solicit their supports for the PDP prime job, Abba has also met with North-Central PDP in a bid to gain advantage for the position.
In their bid to secure the support of the support of party officials in their zone, Suswam and Abah met with critical stakeholders and leaders
of the zone.
According to sources present at the meetings, “Recognising the importance of grassroots mobilisation and inclusive leadership, Suswam assured party leaders and stakeholders of his commitment in ensuring that every member’s voice is heard and valued, just as he emphasised on the the need for transparent and accountable governance.”
The national chairmanship hopeful assured stakeholders that he would be guided by the fundamental principles of accountability and transparency if elected as the next PDP National Chairman.”
The former minister expressed gratitude for the warm reception and robust engagement with members of the North-Central party executives and reiterated his dedication to serving the PDP and the nation with integrity, competence, and unwavering determination.
If the PDP NEC approved the change of leadership, the acting national chairman, Amb Iliya Damagum, would revert to his former position of the deputy national chairman (North)
where they maybe hiding and hibernating. Our aim is to kill this terrorist and the infrastructure that supports them," he vowed.
He said the military deployed significant firepower to neutralise several terrorists and disrupt their activities.
"Indeed, significant terrorist commanders killed include and is not limited to the following: Abu Bilal Minuki (aka Abubakar Mainok), Head of Is-Al Furqan Province (ISGS and ISWAP) and Haruna Isiya Boderi.
"He was a notorious terrorists,
who operated along Birnin Gwari Forest in Kaduna State as well as the Abuja Kaduna Highway. He was killed by troops in 21 Feb 24.
"Others are Kachallah Damina (neutralised in Mar 24, by troops). He was neutralised alongside over 50 combatants), Kachallah Alhaji Dayi, Kachallah Idi (Namaidaro), Kachallah Kabiru (Doka), Kachallah Azarailu (Farin-Ruwa), Kachallah Balejo, Kachallah Ubangida, Alhaji Baldu among several others," he said.
Buba said the operations
were conducted through synchronised strikes between the ground and air forces on terrorist enclaves.
"For instance, immediately upon acquisition of vital targets, fighter jets are scrambled to carry out major bombarding raids on significant terrorist enclaves," he said.
According to him, several weapons were recovered including 1,497 AK47 rifles, 33,878 rounds of 7.62mm special ammunition, 12,698 rounds of 7.62mm NATO, 948 assorted arms and 5,520
assorted ammunition.
Meanwhile, the InspectorGeneral of Police, Kayode Egbetokun, has said the police arrested 3,685 suspects, rescued 401 kidnapped victims, and recovered of 216 firearms, 3,601 ammunition, and 82 vehicles in past eight weeks.
Speaking in Ohoro Forest, Ughelli North LGA of Delta State, where six police officers were ambushed and gruesomely killed during a special operation, significant progress was recorded leading to the arrest of nine suspect.
Tinubu Supports Direct Election into ECOWAS Parliaments, Preaches Unity
Michael Olugbode in Abuja
President Bola Tinubu has thrown his weight behind direct election of members of Economic Community of West African States (ECOWAS) Parliament, even as he emphasised the need for members of the subregional organisation to speak with one voice in order to cement the unity and prosperity of the area.
Members of ECOWAS Parliament have always emerged through selection from elected parliamentarians of member states. This has created endless agitation that they should instead emerge through direct election for places across the region.
Speaking at the inauguration of the sixth Legislature of the ECOWAS Parliament in Abuja yesterday, Tinubu, who is Chairman of ECOWAS Heads of State and Government, charged leaders in the Economic Community of West African States on the need to speak with one voice for the unity and prosperity of the region.
"Honourable Members, as we inaugurate the sixth legislature, it is evident that we are faced with profound challenges in our region that demand our unified efforts.
"Recent political developments have consequential effect on each
of our member states. The wider international context in terms of security, access to markets, and climate change also presents profound challenges.
"Three Member States considering withdrawal from the community is a challenge to us. We must preserve the unity and integrity of our organisation. The ball is in your court as well as mine.
"At this critical junction, regional solidarity is imperative to strengthening our resilience and effectiveness as a bloc, particularly against forces that aim to divide us.
"We must not allow this. We cannot afford to remain passive and ordinary spectators, while our community faces the threat of disintegration. We stand united against such forces and are committed to ensuring that our unity remains unshaking.
"We must ensure that cooperation among us is strengthened with a view to building a sense of common destiny and purpose. No one can do this for us, we are the ones to do it, please. I take that seriously.
"In your legislative consideration and in your interaction, it is very imperative that you take seriously that we have to build the economic prosperity of our region by ourselves.
"Let us forget what has happened to us in the past, we have matured and of age to build our intellectual curiosity to develop our region.
“To this extent, reinforcing the legitimacy of decisions taken by authority of Heads of States, is key in sending a message that ECOWAS is one body.
"It is also very important that the executives, on the other hand, must show similar confidence in Parliament, respect the parliament's resolutions, which will indeed deepen democracy in our region.
"Meanwhile, in the midst of ongoing challenges, our partnership can be a driving force for stability, growth and prosperity in our region.
"Like I said earlier on, it is upon us. It is our responsibility to speak with one voice and make African Union from ECOWAS a central point of economic reform and foreign policy achievement. "
Declaring his support for direct election of members of the regional Parliament, Tinubu said the process would help actualise the vision 2050, which would ensure the people involvement in decision making process in the region. He said, “I’m aware that the ECOWAS parliament is seeking an enhanced powers primarily
through the election of its members by direct universal suffrage.
"This will increase the role the parliamentarians must play and the responsibilities they will assume in advancing our regional development objectives, particularly in harmonising laws and regulations across the member states.
"Indeed, the practice of directly electing public officers aligns with the democratic principles that Nigerians upholds as it enhances the legitimacy of democratic institutions.
"This principle is also in line with the spirit of ECOWAS protocol on democracy and good governance. As one time legislature myself, I look forward to reviewing the proposal regarding this matter.
"We stand to support the election into the ECOWAS Parliament. We believe this will ensure that citizens have direct say in their representation and legitimacy and credibility it will provide. Thank you for thinking very carefully on this subject. "
The president, who also promised that Nigeria would continue to support the regional body, noted: "I want to assure you, that Nigeria as the host of this very important community's institutions, will continue to support you to achieve your objectives.
NEWS
18 THISDAY • FRIDAY, APRIL 5, 2024
Ugoanyanwu, Principal Consultant; Managing Director/CEO of Fordmarx Nigeria Ltd, Dr Clifford Oforbuike Nnaji; Director, Water Resources Planning and Technical Support Service, Federal Ministry of Water Resources, Engr Adeyinka Adenopo and Minister of Water Resources & Sanitation, Engr Joseph Terlumun Utsev at the 2024 World Water Day Celebration held in Abuja...recently
As Kano Gov, Deputy Host Groups, Individuals to Iftar...
Ibrahim Shuaibu writes about the breaking of fast (Iftar) being held daily by Governor Abba Yusuf of Kano state for groups and individuals in the state since the Ramadan fasting commenced on March 11, 2024.
In the bustling city of Kano, as the sun dipped below the horizon, marking the end of another day of fasting during Ramadan, Governor Abba Yusuf gathered with various groups and individuals to mark iftar.
The aroma of traditional dishes filled the air as people eagerly awaited the call to prayer signaling the time to break their fast.
Governor Yusuf and the state Deputy Governor, Comrade Aminu Gwarzo on arrival were greeted by people with cheers and warm smiles, embracing the spirit of unity and community that Ramadan fosters.
Together, they sat down to share a meal, reflecting on the blessings of the holy month and the importance of coming together as one family.
The iftar gathering was a true representation of the diversity within Kano state, with people from different backgrounds, religions, and walks of life joining hands in solidarity.
From local artisans to religious leaders, from business owners to students, everyone found common ground in the values of compassion, generosity, and empathy.
During the meal, Governor Abba took the opportunity to listen to the concerns and aspirations of the people, reaffirming his commitment to serving all citizens of Kano with fairness and dedication.
He pledged to continue fostering an inclusive and harmonious society where everyone has equal opportunities to thrive and contribute to the progress of the state.
As the night deepened and the conversations flowed, the iftar gathering became more than just a meal—it became a symbol of unity, resilience, and hope for a brighter future. With hearts full of gratitude and spirits uplifted, the people of Kano rejoiced in the blessings of Ramadan and the bonds that held them together as a community.
As the evening came to a close, the Governor expressed his appreciation for the warmth and hospitality of the people of Kano, promising to continue working tirelessly to ensure that their voices are heard and their needs are met.
With a renewed sense of purpose and solidarity, they parted ways, carrying the spirit of togetherness and compassion with them into the night.
The iftar events were held at the Government House, providing a warm and welcoming atmosphere for guests to break their fast together.
The menu for the iftar gatherings featured a variety of traditional Ramadan dishes and refreshments, showcasing the rich culinary heritage of the state.
Attendees of the iftar gatherings included government officials, security chiefs, religious leaders, community members, and representatives from various cultural and social organizations including members of the pen profession.
The Governor and the state deputy governor, Comrade Gwarzo took the opportunity to engage in meaningful conversations with their guests, fostering bonds of friendship and collaboration across different segments of society.
The iftar gatherings served as a platform for discussing important issues facing the community and exploring ways to work together towards positive change and development.
Governor Abba and the deputy governor’s commitment to hosting these iftar events demonstrated their dedication to promoting unity, inclusivity, and mutual understanding among all members of the community in the state.
Governor Abba and the deputy governor were known for their generosity and their commitment to bringing people from all walks of life together. They believed in the power of unity and the importance of community, especially during the holy month of Ramadan.
Governor Abba and the deputy governor personally greeted each guest, thanking them for attending and wishing them a blessed Ramadan. As the meal was served, they sat among the guests, engaging in conversations and listening to their stories.
The iftar gatherings continued throughout the month, with different groups and individuals being welcomed each night. From orphaned
children to elderly widows, every guest was treated with dignity and respect, and no one was turned away.
The generosity of Governor Abba and the deputy governor caught the attention of the media, and soon their iftar gatherings became
a symbol of unity and compassion in the state.
People from all over came to join in the celebrations, creating a sense of camaraderie and solidarity that transcended any differences.
Also, the Governor hosted people with disabilities and residents of the Children’s Home Governor Yusuf has reaffirmed his administration’s commitments to supporting the residents of the Kano children’s home in achieving a higher quality of life even as they transit into adulthood, he reflected on the administration’s ongoing endeavor to provide social security and a prosperous existence for the children’s home residents.
Governor Abba emphasized that, in light of his administration’s concern for addressing the needs of vulnerable members of society, his government has expanded the mandate of the Ministry of Women Affairs and Social Development to include children and individuals with disabilities, aiming to enhance their quality of life through tailored policies.
He expressed commitment to addressing issues such as job creation, access to tertiary education, provision of scholarships, and support for the marriage of female residents of the children’s home, in accordance with the government’s principle of inclusivity in providing the benefits of democracy to all segments of society.
-Shuaibu is Press Secretary to Deputy Governor of Kano state.
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Many Battles of Olubadan Balogun
Kemi Olaitan writes that Oba Lekan Balogun who died last month, in his lifetime, engaged in battles before and after ascending the Olubadan of Ibadanland throne in 2022.
Since the 42nd Olubadan of Ibadanland, Oba Mohood Olalekan Balogun, joined his ancestors at the age of 81 after two years on the throne of his forefathers, it has been torrents of tribute for the departed first Ph.D monarch to occupy the highly coveted traditional stool of the ancient city of Ibadanland.
President Bola Tinubu, in his tribute, described him as exceptional king who used his ancestral stool in the service of humanity and a compassionate, courageous, and an unrelenting advocate of the pristine ideals of peace, honesty, and unity.
On the part of former President Olusegun Obasanjo, the late monarch left enviable qualities, which clearly stood him out, including an impeccable record of incorruptible leadership. He said, ”His enviable qualities clearly stood him out as he left behind an impeccable record of incorruptible leadership, a legacy of forthrightness, thoroughness and unwavering commitment to public good. He demonstrated that politics was an avenue not for mindless enrichment but for rendering faithful service.”
For Governor Seyi Makinde of Oyo state who officially announced the passage of Oba Balogun on Thursday night in a statement by his Special Adviser on Media, Sulaimon Olanrewaju, the death of the monarch was nothing but the fallen of a mighty Iroko tree. He said, “In Kabiyesi, Ibadanland had a cosmopolitan and well-experienced Olubadan, who made indelible marks on the sands of history and achieved greatly within a short while.”
However with the late monarch committed to mother earth last Friday at his Aliiwo family compound in Ibadan, observers in the ancient city believed that the former Senator representing Oyo Central senatorial district under the
platform of the Alliance for Democracy
(AD) between 1999 and 2003, had his own share of controversy and political battles that he contended with before and after he ascended the throne of his forefathers.
As Otun Olubadan and next in line to succeed the 41st Olubadan, Oba Saliu Adetunji, who died in January 2022, Oba Balogun was seen as the arrow head of Ibadan High Chiefs, who got into a long drawn battle with Oba Adetunji, over their elevation as Obas by the former governor of Oyo State, late Senator Abiola Ajimobi.
For many, he indeed was believed to have instigated the crisis between the High Chiefs apart from the then Osi Olubadan and former governor of the state, Senator Rasheed Ladoja, who deserted the Olubadan palace and Oba Adetunji.
The elevation of the High Chiefs led by Balogun to Obas by Ajimobi was to pitch them against Oba Adetunji and Ladoja both of whom dragged them and Ajimobi to court arguing that their elevation violated the 1957 Ibadan chieftaincy declaration.
Balogun while speaking at the height of the crisis on behalf of other High Chiefs elevated and members of the Olubadanin-Council, accused Oba Adetunji of denigrating the council by appointing Mogajis (family heads) and Baales (village heads) without any recourse to the council.
“Kabiyesi Oba Adetunji has turned the institution of Olubadan into personal affair, which can be run at his whims and caprices, which amounts to illegality. Contrary to their belief at Popoyemoja palace that Olubadan is an authority unto himself, we are telling the world that Olubadan only exists with his council.
“We want to draw the attention of the people of Ibadan to some irregularities and illegalities embarked upon by the Olubadan. If Olubadan thinks we do not matter, we also can show that he doesn’t matter without us. He should not forget that, when he was to be made the Olubadan, he rose through the council. We (Olubadan-in-Council) made Olubadan out of him. He did not make us what we are, but we made him the Olubadan.”
Balogun was to face his greatest battle after the death of Oba Adetunji as the suit by Ladoja generated controversies that contributed to the delay in his appointment as the new Olubadan as the next in line. Makinde who was among the vehement critics of Ajimobi when he elevated the High Chiefs asked the kingmakers to discontinue the case they filed and revert back to the status quo before their elevation.
And desirous of ascending the throne, Balogun leading other High Chiefs was to listen to voice of reason and through their lawyer, Kunle Sobaloju, wrote a letter to withdraw their case and settle amicably.
19 THISDAY FRIDAY APRIL 5, 2024
Group Politics Edito r DEJI ELUMOYE Email: deji.elumoye @thisdaylive.com 08033025611 SMS ONLY
POLITICS Acting
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THE OTHER SIDE OF UNEMPLOYMENT
Many employees are dishonest, reckons JOSHUA J. OMOJUWA
See page 21
opinion@thisdaylive.com
Wike's knee should be forced off the neck of Rivers State so the geopolitical entity can breathe, writes TUNDE OLUSUNLE
WIKE AS CROSS-BORDER DISTRACTION
Nyesom Ezenwo Wike, Minister for the Federal Capital Territory, (FCT), is an extremely lucky man. The fact that he various levels on the nation's political canvas has been very well established. From the nondescript corners of a local government chairman
Wike has consistently hugged the klieglights of Goodluck Jonathan appointed Wike his Minister of substantive Minister resigned to pursue political interests. Wike went on to become governor of the Nigeria's socioeconomic tripod, Lagos and Kano being the other two. Delta, Ogun, Oyo and Kaduna of the nation's socioeconomic expansion. Wike has therefore featured in the politics of the Fourth Wike did well in the development of salient periodically entertained by live telecast of the commissioning ceremonies of many projects built educational facilities in tertiary institutions topped the list of the attainments of his regime. Professor of law, past Vice President Yemi Osinbajo beaded Wike with the glowing moniker of "Mr Projects" to underscore
See page 21
NIGERIA: A THEATRE OF CONTRADICTION ABDULKABIR MUHAMMED contends that many of our actions are the opposite of what we preach EDITORIAL STILL ON THE STUDENT LOAN ACT
in the inauguration of these projects. They were allegedly assured generous honoraria supposedly denominated in foreign currencies from Wike's vaults courtesy of his oftentimes impulsive philanthropy. Nigerian politics has no doubt been kind to Wike. From the little-known Port Harcourt attorney who barely practiced before launching into politics, Wike reportedly has grown a very deep pocket during his years as a most privileged public servant. In the the presidential primary of the Peoples' Democratic
while Wike was runners-up. The imperative for
of billions if he was chosen! If this presumption has
Wike has openly acknowledged that he worked
running mate as the more sober, level-headed Ifeanyi Okowa immediate past governor of Delta house," the PDP literally on which platform he grossed prominence and prosperity, Wike latched
instance he was not referring to the proverbial mighty especially a governor or president. He is obsessed access to the public till, fawning security details around him, not forgetting the protocol architecture. meaningless live television interviews. Wike doesn't cut the image of someone who can survive outside Wike seems to have transposed his verbal incontinence and rambunctiousness from the provinces to the capitol. He is so all-knowing that he wouldn't make himself available to meet with the senator representing the FCT, Ireti Kingibe, which he superintends on behalf of the President. But he will spontaneously obey parliamentary summons when seeking consideration and approval of his ministry's budget. Wike actually fancies himself some kind of "Michael Jackson" who is sought by many but who chooses those to dance for. The Tinubu government had barely settled last year when Wike in November Blabbing as usual during his self-serving television appearance, he restated his commitment to the success of the Tinubu government. To this extent he would subsume his ambition for the presidency in Last February at a thanksgiving service for
He boasted about his uncommon political wizardry
will be a walkover under his marshal plan. Wike's overly narcissistic politics is the variant rejected by This translates as "you are at liberty to choose hut. You are not permitted to savour both at once." Wike's amphibious political brinkmanship reminds of *Janus* the double-faced god in Greek mythology. *Janus* is at once the god of beginnings, gates, transitions, time, duality and endings, concurrently! Not content with his primary responsibility as FCT minister, Wike has been an agent of destabilisation
template.
It has also been alleged that Wike left instructions for the remittance of a particular percentage of
Wike purportedly exercises monarchical control over the two aircraft belonging to the state. For daring conditions, Fubara has been serially threatened with have largely unsettled governance in the state, its pulse hallmarked by unending palpation. Wike is at daggers-drawn with the political establishment in his state. He has disowned the Odili who provided the springboard for his political Celestine Omehia, governor for a few months before
Nwuche has been seen around Wike these days, so it is just possible both men have parted ways. Wike has brushed aside key opposition elements in the state notably Tonye Cole who many assumed would have been favoured by Tinubu as the eyes and ears is the kind of polarisation Wike's belligerence has I decidedly described Wike as an extremely lucky serving in the administration of a President whose capacity for restraint and accommodation can only I served in the administration of President Olusegun Obasanjo and I can speak for the limited elasticity and pursuits ran counter to the core objectives and unceremoniously shown the door. Obasanjo it was their ambitions. He also released senior appointees for instance from his cabinet.
He is neither an exemplar of the "renewed hope nor the PDP's "let's make Nigeria work again" theme. life of Nigeria to be pocketed and unsettled by the the undisputable second place holder to Lagos in
winner of the largely controversial election. He developed spontaneous fraternities with as many close associates of Tinubu as he could, all to ensure that he got appointed into the emerging administration at the time.
See page 22
Wike covets the high stool. He is an undisputable power monger who has been so soaked in the of existence outside of the power ring. From campaign dais ahead of the general elections in PDP presidential primary two years ago, Wike was almost psychotic about the "power of the pen." In this
accountant-general of the state as his successor, yet he wouldn't allow him a breather to operate. In Wike's most recent interview on Channels Television, he restated the fact of being Fubara's benefactor. He Wike re-echoes the lines of Louis XIV of France and which translates as "I am the state." He is the de facto Wike's political structure while he held sway in *Brick House* was initially wholly imposed on Fubara.
of services and development for its people. Wike's the geopolitical entity can breathe. The FCT is in the grips of security and developmental challenges while Wike is trying to be a "Minister-Governor," under a President, Commander-in-Chief. Come to think of it, the FCT minister is the face of government in many of call of many diplomats, respected international honour a scheduled meeting with Wike if I only just watched his petulant interview on global television.
Olusunle, PhD is a Fellow of the Association of Nigerian Authors, (ANA)
1 THISDAY FRIDAY APRIL 5, 2024
R T A ON 20
Friday AApril 5, 2024 Vol 29. No 10586
Many employees are dishonest, reckons JOSHUA J. OMOJUWA
THE OTHER SIDE OF UNEMPLOYMENT
Tunde once worked and lived in Lagos. He was doing quite well even then, but he secured an opportunity in the Netherlands that provided him with more opportunities than he could have imagined. Within months of relocating, he was already remitting money to his family and friends. He had no issue with doing that, except for when the bills pile up around the same time.
norm.
SONNY ARAGBA-AKPORE argues that the sector is experiencing turbulence
TELECOMS’ ECONOMIC HEADWINDS
Tunde always wanted to have a farm, so he discussed the idea with an old friend back in Nigeria. The friend already farmed on a small
scale so they both agreed to start a new farming enterprise where they each owned shares. Tunde provided the capital which also helped to secure land and labour, whilst the friend provided the managerial supervision needed to bring the idea to fruition and ultimately grow it.
When Tunde dreamed of having a farm, he always thought of it as something to make money for himself. However, by the time he kicked-off the idea, it was no longer to make money for himself. His primary reason for starting the farm was to provide jobs back home and to use the money to support his friends and family.
A year into the business, Tunde knew he was going to exit. His partner told tales of farm workers who always found a way to game the business. They’d kill the fowls overnight, then claim it was some disease or ants. They found a way to place ants at the scene of the crime. Tunde’s partner always ended up telling the workers to throw away the dead fowls. The workers simply took them home to eat.
At other times, they’d feed the animals a lesser ration than decided, then sell some of the feeds elsewhere. The feedback Tunde got every other week indicated he was running a lost cause. He found out he had spent four times more than he had intended to invest on the farm over a year.
Tunde decided to discuss the matter with another friend. That was when he also found out that his partner ran two separate farms, a thriving one and a suffering one. Tunde’s partner was building another farm with the investment from Tunde whilst using some of the money to pretend to run the joint enterprise. During one of their partner video calls, Tunde asked him about the other farm. The partner said he was running that as an insurance against the failure of the failing one. Tunde was shocked. His trust had been betrayed. He stopped sending money across. Soon after, both farms went under. The partner and the farm workers were all back in the labour market less than 18 months after the call.
This is not a unique story; it is more like the
We have built and entrenched a culture that treats betraying other people’s trust as being street-smart. You either know someone or have heard stories of people that sent money back home to build houses that ended up returning home to see no land, let alone a house on top of it. Elsewhere, your capital is all you need to commit to buy or start a business. Because once you hire the right people and a focused manager, they can run the business, earn their pay whilst you earn your profit. Here, if you aren’t available to monitor your business like an obsessed cat, chances are that the business will be run down by the very people that were hired to make it thrive.
Everyone wants to be rich and richer, here and now. And it does not matter how the money is made. Indeed, our society hardly cares how the money is made, it only cares that you have it. That has created a cyclic system of distrust that you can plot to the state of businesses, work, and unemployment in Nigeria. There is more than enough private capital in Nigeria and diaspora to create more businesses. That capital sees the level of depravity in our society and instead chooses to stay in the bank where it barely benefits the owner.
Nigeria’s diaspora is one of its most important economic forces. The remittances indicate that it is a group with enough capital to power commerce and industry here. A lot of these remittances are to support family and friends to help them meet their needs. If we weren’t such a society where you are more likely to see someone run your business down on account of their greed and larceny, some of that would have gone to setting up businesses here. The difference between giving someone money to meet their needs and starting a business to have them manage it is like giving someone fish to feed versus trusting them to manage a fishing business where they can legitimately earn their own fish.
Sadly though, it is easier to just give people fish. Because if you hand them your fish business, they’d run it down whilst pretending to be smarter than you. And when you decide to approach the courts for justice, between those who’d insist you are a wicked person for taking the person to court and the court itself showing you that it is a pointless endeavour —at least on account of the processes and the years it’d take to get justice – you’d know to just count your losses and move on.
You lose money — hopefully once. They lose jobs and opportunities and pile on the national unemployment data, while we look to government for help. The same way culture eats strategy for lunch, culture will always moderate whatever economic policies a government introduces. Unemployment, I believe, is a policy issue that needs to be addressed by government. That belief doesn’t invalidate the fact that there is a side to it that’s deeper than an economic policy.
There are those who pay their workers less than those workers deserve. That bit is true. However, that does not change the story; we have built a culture that scares capital.
Omojuwa is chief strategist, Alpha Reach/ author, Digital Wealth Book
ABDULKABIR MUHAMMED contends that many of our actions are the opposite of what we preach
NIGERIA: A THEATRE OF CONTRADICTIONS
I resorted to this title amidst contradictions. I had thought of entitling it, ‘Nigeria: Of a facade country and peoples’ or ‘Nigeria: Who is deceiving who?’ This was because Nigeria makes one wonders if there is anything real. The country with the largest black race survives on a platter of facade and contradictions.
This cuts across all strata. From local government to state and national levels, the leaders and the led operate on deceits. The academic environment is not spared from the issue. Religious organisations, especially, contradict what they stood for. This raises a lot of questions in the mind of an average Nigerian as to why a system would choose to be extraordinarily deceitful. What consequences, if any, would such a system have begotten afterwards?
First off, our conception of Nigeria is yet to be clarified. Our motto, ‘Unity and Faith, Peace and Progress’, is an utter contradiction. We live in ‘one Nigeria’ where an indispensable part of the country has continued to nurture seeds of bitterness and revenge.
The third major ethnic group in Nigeria, the Igbo people of eastern Nigeria, has continued to agitate for a State of Biafra, in the past five decades. We pretended as if all was right; as if the sit-at-home syndrome in some part of eastern Nigeria, especially in Enugu, and the lack of tolerance for people of other tribes to hold certain positions were child’s play.
We also pretended not to have perceived the whole issues that transpired in the 2023 Lagos gubernatorial elections—the ‘No Man’s Land’ saga and the constitutional right deprivation meted out on people of other ethnic group—as a dividend from the seed of discord planted in the country by some kleptocrats and egoists. Yet, the same country tags itself a federal state when the subordinates are extremely weaker than the central; where the federal government controls 70 percent of states’ resources and budget. We always tend to be more catholic than the pope. This issue has been protractedly contested by states- especially those who felt that their resources are being used to service other poor states- but the resolutions were not satisfactory. This is largely responsible for thefts and the recurring violence, especially, in the Niger Delta region. Still, we don’t want to look in that direction.
Democracy is what Nigeria practices and preaches, but our situation is, no different from a monarchical system where power resides in the hand of the blue-blooded. Perhaps the only feature of democracy that we manifest, since the transition into the fourth republic, is the periodic elections—which were always marred with violence and false results.
Seconding that is public opinion/expression. Nigerians would not concede such rights to the government. The mantra, ‘democracy brings about development’ is only a classroom debate, in Nigeria’s case. Even though Section 14 sub section 2 (b) of the 1999 Constitution as amended states that ‘the security and welfare of the people shall be the primary purpose of government’, the reality is that the Nigerian government is concerned with the welfare of the plutocrats.
The Nigerian democratic system renders Abraham Lincoln’s definition of democracy (as a government of the people by the people and for the people), as being limited. Democracy, in the Nigerian example, is a government of the few, by the masses, and for the aristocrats. Moreover, the security of the people is a question of ‘don’t lose guard.’ Boko Haram has kept on ravaging the land, largely, since 2009 but the Nigerian government has not been able to nip it in the bud, despite successive budgets on security.
I feel dishonest telling my students the Borno State was supposed to be Nigeria’s ‘Home of Peace.’ These, notwithstanding, Nigerian leaders harp on the need to improve production and consumption of local products.
In a state where farmers have no access to capital and up-to-date implements? Where those who struggle to farm could not work on their farms because of some Fulani herdsmen? Disgracefully, this was reiterated by
President Muhammadu Buhari, in whose regime the farmers suffered humiliating herdsmen/cattle menace. Of what use, therefore, is our fertile soil?
The Law is supreme above the ruler and the ruled, a concept I was fed with as a high school student, appears to me a contradiction. A facade! The Nigerian rule of law only applies to the poor citizens; the peasants at the lowest hierarchy. You wonder what was supposed of the likes of ‘Senator’ Ahmed Lawan, as one in a million? Nigerian politicians are so powerful, not only above the law, but also, law agents and caretakers. They manipulate them to meet their ends.
What is more, an administration that claimed it understands and shares from the citizens’ outcry, enacted a policy that have left the masses in economic hardship; one that forces its subjects into illegitimate and unrecommended fasting; a policy that has led a lot of parents to withdrawing their children from school, thereby increasing pilfering and arm robbery. The subsidy removal and the reverberations, therewith, has reduced the hardworking Nigerians to irresponsible citizens; a policy that has left Nigerians in an enduring harsh mood. Indifferently, however, it expended billions of Naira buying yachts and vehicles for senators. Alarmingly, such a government went ahead appointing ministers who would misappropriate public funds. This would come from the Minister of Humanitarian Affairs and Poverty Alleviation! Another contradiction!
Another contradiction relates to Nigeria’s eulogy as one of the most religious countries in the world. Our Alfas, pastors, sheikhs, reverends, prophets and evangelists are uncountable. Our traditional worshipers and priests are as many as the deities. Yet, no sign of religiosity reflects in our political economy. The same alfa who preaches taqwa (the fear of God) is the Baba Isale of overambitious politicians who want to meet their ends though whatever possible means. He is the one who helps the Yahoo boys do the miracles: he helps them in avenging ‘the past colonial exploitations of their great grandfathers’ resources.’ I had heard people say that philosophers do not believe in God, until I attended a philosophy class where a lecturer bluntly refuted such a claim. For her, philosophers do believe in God but only ask philosophical questions. They interrogate the existence of a supreme being; the unseen. They question the evolution of human beings. They are also not satisfied (theoretically as it appears) with the claim of predestination (Determinism) as they find it difficult to reconcile between it and free will. They cannot imagine how somebody can deserve either paradise or hell fire for their deeds. Is it not then contradictory seeing that some of these philosophers attend mosques and churches where everything is believed to be in the hand of God Almighty? Doesn’t it mean that their students are being deceived?
Muhammed is of the Department of History and International Studies at the Lagos State University. He can be reached via abdulkabirm87@gmail.com
3 THISDAY FRIDAY APRIL 5, 2024
21
In signing the newly revised Student Loans Re-enactment Bill, 2024 into law on Wednesday, President Bola Tinubu pledged that Nigerians who desire tertiary education would not be disadvantaged on account of their financial situation. “No matter how economically challenged you are, accredited and qualified students will and must have access to this loan to advance their education in higher institutions,” stated the president. He must now establish the Nigeria Education Loan Scheme (NELFund) to administer, manage, and invest funds specifically for providing loans to Nigerians pursuing higher education, vocational training, and skills acquisition, along with other related activities. He added, “There is no compromise in our commitment to the disadvantaged citizens of this nation.”
is that we cannot continue to train manpower for a free market economy at no cost to parents. Besides, many of the undergraduates in our public universities attended private secondary schools where the fees for one term were often more than the entire cost of a degree programme in our public university system.
The student loan act is just one of a cocktail of ideas that we need to address the challenge of inadequate funding for our tertiary institutions
The earlier version of the Student Loan Act was repealed because of some salient complaints, particularly with the issues of governance and management, the purpose of the loans and eligibility criteria. Others include the method of application, and recovery of the loans. Predictably, the Academic Staff Union of Universities (ASUU) also picked holes in the act arguing that the children of the poor would be burdened with loans and debt after graduating.
Even so, we subscribe to the idea behind the new legislation. At the root of this crisis of tertiary education in Nigeria is the lack of an articulated policy on funding. The weak financial conditions of most of our universities are exacerbated by the current crippling economic crisis afflicting the nation. Yet, besides personnel costs, funds are required to rehabilitate dilapidated facilities, purchase consumables and aid research. What ASUU and those who insist on free tuition in our public universities therefore fail to understand
T
EDITOR
DEPUTY EDITOR WALE OLALEYE
MANAGING DIRECTOR ENIOLA BELLO
DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU
CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI
GROUP
DIVISIONAL DIRECTORS SHAKA MOMODU,
For the sector to attract quality academic and non-academic staff, provide necessary teaching aids, and ensure conducive learning environment for students, the idea of tuition-free tertiary education for all is no longer realistic. In most countries where education is taken seriously, universities explore several ways of raising funds for their operations, without any attempt to reinvent the wheel. The common avenues include donations, endowments, professional chairs, gifts, grants, and consultancy services. Incidentally, the military government of General Yakubu Gowon dealt with the problem at the level of policy. The federal military government had the students’ loans scheme, work study programmes, scholarship schemes for indigent students, grants, etc. There were also bursaries at the level of states. Sadly, all these schemes have either been abandoned or compromised in their execution.
Whereas the schools Nigerians attend abroad even for non-degree programmes bombard them with requests for donations with mobilisers and fund managers engaged for that process, Nigerian universities are content with whatever they receive from government. Meanwhile, universities abroad don't spend more than 40 per cent of their earnings on salaries which are decent. So, what we lack is ambition across the board, including sadly among lecturers. But we must state that the student loan act is just one of a cocktail of ideas that we need to address the challenge of inadequate funding for our tertiary institutions. While the idea is welcome, the real work will come during implementation.
OF DEMOCRACY AND CONSTRUCTIVE SERMONS
President Bola Ahmed Tinubu is the face of a presidency that is keeping its promises to Nige-has remained hopeful that his government can deliver.
Historically, democracy has not always yielded fact, in many places where there has been a democracy, it has sometimes gone on a barren run,remains childless.
Nigeria’s experiment since 1999 has not been barren even if it has yielded only very few fruits. One of such is the four-year election cycle which brought President Tinubu to power in May 2023.
Democracy doesn’t give people a voice. Nature the voice which is already in them. This voice is expressed in so many ways and forms. A free press, a free podium in religious houses, and just
in the basic expressions of freedom.mocracy, not much more can be demanded of that democracy for a voice is a sentinel that keeps the state on its toes.
The president feels that clerics in Nigeria should watch their sermons and be careful to keep them constructive. He conveyed this feeling about a week ago through Ajuri Ngelale, his Special Adviser on Media and Publicity, during Ramadan Iftar with religious leaders and traditional rulers at the state house in Abuja.
The romance between religion and the republic in Nigeria is a historic one. Divisions along religious lines remain razor-sharp in a country where millions identify as adherents of one religion or the other. The romance has been used to win elections and even hand out death in the past.dent Bola Tinubu chose Vice President Shettima as his running mate in 2022. The furor was instant, -
vor of nationwide acceptability. It spectacularly
In essence, the president’s retort was that religion should regulate its rabble and rabble-rousers. Unsaid but unremovable from the advice was that the highly placed and ‘deeply devout’ pubwithout the shards of shame and embarrassment that searing sermons can easily scatter, stabbing at what’s left of their conscience.
What should sermons in Nigeria consist of? Sugary sops, empty eulogies or grandiloquent grandstanding?
Should pastors and imams mind their business and pinch their lips so they don’t say too much, or should they give lip to the suppressed lamentations of their people, stripping in the process the silence that strips of all dignity?
In many ways, it was an unnecessary preaching to the converted. The danger is clear when public statesmanship to don the robes of priesthood, no
Religion is a lot to Nigerians and religious leadThis almost hypnotic hold hobbles along with a duty to hold the government to account. While there have always been legitimate questions over
Sure, there is a delicacy to be negotiated when those who reap others for God from the pulpit also have to rattle the source of society’s problems that often lie in the grand landscape of the government, but how should it be done? Should it even be done at all?
There is a near consensus that in speaking truthance, especially as those concerned are often likely to be hard of hearing as a result of their time in the echo chambers of power.
Ike Willie-Nwobu, Ikewilly9@gmail.com
4 THISDAY FRIDAY APRIL 5, 2024 22 Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer. Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com Letters to the Editor LETTERS
The amended act is welcome
EDITORIAL STILL ON THE STUDENT LOAN ACT
H I S D AY
SHAKA MOMODU
EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE
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
T
EXECUTIVE DIRECTORS
ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI
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
GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 03-April-2024, unless otherwise stated.
Offer price: The price at which units of a trust or ETF are bought by investors.
Bid Price: The price at which Investors redeem (sell) units of a trust or ETF.
Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.
NAV: Is value per share of the real estate assets held by a REIT on a specific date.
FRIDAY, APRIL 5, 2024 • THISDAY MARKET NEWS 23 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.
A
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.
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.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS Fund NameBid PriceOffer Price Yield / T-Rtn Coral Balanced Fund 4,083.34 4,083.34 21.19% Coral Income Fund 4,083.34 4,083.34 8.42% Coral Money Market Fund 100.00 100.00 16.35% FSDH Dollar Fund 6,200.89 6,248.50 28.42% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund NameBid PriceOffer Price Yield / T-Rtn Abacus Money Market Fund NILLNILLNILL Vantage Balanced Fund NILLNILLNILL Vantage Guaranteed Income Fund NILLNILLNILL Kedari Investment Fund (KIF) NILLNILL NILL Vantage Equity Income Fund (VEIF) - June Year End NILLNILLNILL Vantage Dollar Fund (VDF) - June Year End NILLNILLNILL LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund NameBid PriceOffer Price Yield / T-Rtn Lotus Halal Investment Fund 1,228.10 1,228.10 4.52% Lotus Halal Fixed Income Fund 1.92 1.96 23.49% Lotus Halal Equity Exchange Traded Fund 28.61 31.62 140.56% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund NameBid PriceOffer Price Yield / T-Rtn Meristem Equity Market Fund N/AN/AN/A Meristem Value ETF N/AN/AN/A Meristem Growth ETF N/AN/AN/A Meristem Fixed Income Fund N/AN/AN/A Meristem Dollar Income Fund N/AN/AN/A Meristem Money Market Fund N/AN/AN/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund NameBid PriceOffer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/AN/AN/A Norrenberger Money Market Fund (NMMF) N/AN/AN/A NORRENBERGER DOLLAR FUND (NDF)-----($) N/AN/AN/A NORRENBERGER TURBO FUND (NTF)-----(N) N/AN/AN/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund NameBid PriceOffer Price Yield / T-Rtn PACAM Balanced Fund 10.00 10.00 0.00% PACAM Fixed Income Fund 14.81 15.12 91.72% PACAM Money Market Fund 2.79 2.83 19.82% PACAM Equity Fund 2.54 2.58 17.94% PACAM EuroBond Fund 148.26 151.41 12.22% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund NameBid PriceOffer Price Yield / T-Rtn SCM Capital The Frontier Fund 171.18 174.35 1.87% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund NameBid PriceOffer Price Yield / T-Rtn SFS Fixed Income Fund N/AN/AN/A Skye Shelter Fund* N/AN/AN/A Union Homes REIT N/AN/AN/A STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund NameBid PriceOffer Price Yield / T-Rtn Stanbic IBTC Money Market Fund 1.00 1.00 15.79% Stanbic IBTC Bond Fund 257.89 257.89 3.09% Stanbic IBTC Dollar Fund (USD) 1.49 1.49 7.23% Stanbic IBTC Shariah Fixed Income Fund 130.49 130.49 6.58% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 129.08 129.08 9.64% Stanbic IBTC Balanced Fund 5,557.64 5,614.29 11.71% Stanbic IBTC ETF 30 Fund 657.67 657.67 -8.27% Stanbic IBTC Ethical Fund 2.40 2.43 16.67% Stanbic IBTC Guaranteed Investment Fund 358.87 359.29 1.62% Stanbic IBTC Imaan Fund 430.78 436.31 14.23% Stanbic IBTC Nigerian Equity Fund 19,404.86 19,672.49 7.06% SIAML Pension ETF 40 933.00 933.00 86.60% Stanbic IBTC Aggressive Fund 6,002.71 6,077.36 11.56% Stanbic IBTC Conservative Fund 5,627.35 5,651.61 6.45% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund NameBid PriceOffer Price Yield / T-Rtn United Capital Money Market Fund 1.00 1.00 12.76% United Capital Sukuk Fund 1.21 1.21 9.31% United Capital Fixed Income Fund 1.98 1.98 6.39% United Capital Nigerian Eurobond Fund 126.02 126.02 5.30% United Capital Global Fixed Income Fund 1.11 1.11 7.57% United Capital Equity Fund 1.58 1.60 16.53% United Capital Balanced Fund 2.01 2.02 8.49% United Capital Wealth for Women Fund 1.64 1.65 15.36% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund NameBid PriceOffer Price Yield / T-Rtn Zenith Balanced Strategy Fund NillNillNill Zenith ESG Impact Fund NillNillNill Zenith Income Fund NillNillNill Zenith Money Market Fund NillNillNill VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid PriceOffer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 10.20 10.30 145.51% Vetiva Consumer Goods Exchange Traded Fund16.06 16.16 173.55% Vetiva Griffin 30 Exchange Traded Fund38.17 38.37 103.94% Vetiva Money Market Fund1.00 1.00 15.62% Vetiva Industrial Goods Exchange Traded Fund48.26 48.46 101.23% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund147.83 149.83 3.05% REITS Fund Name NAV Per Share Yield / T-Rtn SFS REIT 0.00 0.00 Chapel Hill Denham Nigeria Infrastructure Debt Fund 114.00 N/A info@anchoriaam.com MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund NameBid PriceOffer Price Yield / T-Rtn Afrinvest Equity Fund 359.54 359.54 19.62% Afrinvest Plutus Fund 334.24 334.24 11.52% Nigeria International Debt Fund 100.00 100.00 14.23% Afrinvest Dollar Fund 109.26 109.26 1.39% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel:
Fund NameBid PriceOffer Price Yield / T-Rtn AIICO Money Market Fund N/AN/AN/A AIICO Balanced Fund N/AN/AN/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund NameBid PriceOffer PriceYield / T-Rtn Anchoria Money Market N/AN/AN/A Anchoria Equity Fund N/AN/AN/A Anchoria Fixed Income Fund N/AN/AN/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund NameBid PriceOffer Price Yield / T-Rtn ARM Aggressive Growth Fund 37.75 38.89 23.58% ARM Discovery Balanced Fund 767.71 790.86 15.89% ARM Ethical Fund 63.94 65.87 17.27% ARM Eurobond Fund ($) 1.12 1.12 2.55% ARM Fixed Income Fund 1.11 1.11 8.08% ARM Money Market Fund 1.00 1.00 13.98% ARM Short Term Bond Fund 1.03 1.03 8.83% Web: www.avacapitalgroup.com; Tel 08069294653 Fund NameBid PriceOffer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 109.42109.425.62% AVA GAM Fixed Income Naira Fund 1,122.03 1,122.03 0.32% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund NameBid PriceOffer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/AN/AN/A AXA Mansard Money Market Fund N/AN/AN/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund NameBid PriceOffer Price Yield / T-Rtn CEAT Fixed Income Fund N/AN/AN/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/AN/AN/A CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund NameBid PriceOffer PriceYield / T-Rtn Capitaltrust Halal Fixed Income Fund N/AN/AN/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund NameBid PriceOffer PriceYield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.041.049.18% CardinalStone Dollar Fund 0.991.00-0.94% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund NameBid PriceOffer Price Yield / T-Rtn Chapelhill Denham Money Market Fund NILLNILLNILL Paramount Equity Fund NILLNILLNILL Women's Investment Fund NILLNILLNILL CHD Nigeria Bond Fund NILLNILLNILL CHD Nigeria Dollar Income Fund NILLNILLNILL CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund NameBid PriceOffer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 15.31% Cordros Fixed Income Fund 110.37 110.37 9.80% Cordros Halal Fixed Income Fund 111.77 111.77 8.65% Cordros Dollar Fund ($) 116.24 116.24 6.37% Cordros Milestone Fund 191.38 192.77 10.66% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund NameBid PriceOffer Price Yield / T-Rtn Coronation Money Market Fund 1.001.0012.86% Coronation Balanced Fund 1.581.59 0.18% Coronation Fixed Income Fund 1.301.300.04% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund NameBid PriceOffer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/AN/AN/A EDC Nigeria Money Market Fund Class B N/AN/AN/A EDC Nigeria Fixed Income Fund N/AN/AN/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund NameBid PriceOffer Price Yield / T-Rtn Emerging Africa Money Market Fund N/AN/AN/A Emerging Africa Bond Fund N/AN/AN/A Emerging Africa Balanced Diversity Fund N/AN/AN/A Emerging Africa Eurobond Fund N/AN/AN/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund NameBid PriceOffer Price Yield / T-Rtn FBN Money Market Fund 10010016.80% FBN Bond Fund 1594.621594.62 3.05% FBN Dollar Fund 126.33126.331.94% FBN Halal Fund 138.21138.213.37% FBN Specialized Dollar Fund 114.58114.582.41% FBN Balanced Fund 304.88307.2612.75% FBN Smart Beta Equity Fund 281.92285.9513.37% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund NameBid PriceOffer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 14.21% Legacy USD Bond Fund 1.34 1.34 4.56% Legacy Debt Fund 3.39 3.39 -20.46% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1
+234-1-2792974
Thisday Afrinvest Index down 1.3%
Thisday Afrinvest 40 index lost 1.3% to print at MTNN (-1.3%), GTCO (-6.5%), and ZENITH (-1.8%). Cumudex.
Local Bourse Sustains Bearish Momentum ASI down 0.4%
the NGX-ASI fell 0.4% to 103,736.08 points, following price decline in GTCO (-6.5%), MTNN (-1.3%), and FBNH (-3.3%). Consequently, YTD return deand 75.6% to 487.7m units and 15.6bn, respec-
Mixed Sector Performance
Performance across our coverage sectors was closed in the red, two gained, while the Oil & Gas Banking6.5%) and FBNH (-3.3%). Similarly, price deprecia-1.3%) and WAPCO (the AFR- ICT and Industrial Goods indices down (+9.5%), and UNIVINSU (+8.1%) pushed the Consumer Goods and Insurance indices up 0.5% and Outlook
breadth, improved to -0.04x (from -0.16x in the prior session) declined, lyst.
Friday, April 5, 2024
58.8%58.8%11.9%3.0%43.3x4.5x0.7%2.3%
12FBN Holdings Plc32.00 -3.32%6.5% 35.9%244.1%23.0%2.2%3.7x0.7x1.5%26.8%
13Fidelity Bank PLC9.95 0.00%1.7% -8.3%-8.3%25.1%1.8%3.3x0.7x5.0%30.7%
14Nestle Nigeria PLC900.10 0.00%1.5% -18.2%-18.2% -14.4%-10.1%
15Stanbic IBTC Holdings PLC54.00 -0.09%1.4% -22.5%-22.5%30.6%3.4%5.1x1.4x6.8%19.7%
16BUA Foods PLC379.90 0.00%3.1% 96.4%96.4%44.9%16.9%60.1x26.2x1.6%1.7%
17Okomu Oil Palm PLC243.00 0.00%1.4% -6.5%-6.5%57.6%27.9%11.0x5.9x11.4%9.1%
18Dangote Sugar Refinery PLC56.00 6.26%1.1% -1.8%-1.8%-58.9%-13.5%8.5x2.7%-10.8%
19Nigerian Breweries PLC29.10 0.17%0.8% -19.2%-19.2%-87.5%-15.0%4.7x-44.0%
20AXA Mansard Insurance PLC5.70 0.00%1.0% 3.6%3.6%40.8%11.2%4.1x1.4x2.1%24.5%
21NASCON Allied Industries PLC52.55 0.00%0.8% -2.2%-2.2%57.3%19.2%5.0x5.1x1.9%19.9%
22FCMB Group Plc8.70 2.96%1.0% 17.6%17.6%25.5%2.5%1.8x0.4x2.9%54.3%
23Flour Mills of Nigeria PLC39.10 -0.38%1.0% 18.3%18.3%9.6%1.6%8.5x0.8x5.8%11.8%
24International Breweries PLC4.50
25Geregu Power PLC1,000.00
26Sterling Financial Holdings Co4.61 -1.91%0.8% 7.5%7.5% 3.3%
27PZ Cussons Nigeria PLC38.00
29Chapel Hill Denham Management114.00
30Transcorp Hotels Plc97.90
MBENEFIT0.64-8.6%
TANTALIZER0.35-7.9%
UNITYBNK2.13-7.4%
JAIZBANK2.18-7.2%
GTCO49.00-6.5%
WAPIC0.70-5.4%
SOVRENINS0.46-4.2%
UCAP23.00-4.2%
ACCESSCORP23.00-4.0%
ZENITHBANK161.7-1.8%
GTCO54.4-6.5%
UBA47.8-3.6%
ACCESSCORP40.9-4.0%
TRANSCORP28.4-0.4%
UNIVINSURE21.58.1%
ETI16.46.1%
JAIZBANK9.5-7.2%
FBNH7.9-3.3%
FIDELITYBK7.30.0%
TickerValuePrice Chg %
ZENITHBANK7027.5-1.8%
GTCO2729.2-6.5%
UBA1299.8-3.6%
ACCESSCORP950.4-4.0%
TRANSPOWER449.60.0%
ETI427.26.1%
MTNN423.3-1.3%
TRANSCORP387.0-0.4%
PRESCO373.40.0%
FBNH256.9-3.3%
24 THISDAY • FRIDAY, APRIL 5, 2024 Afrinvest West Africa Limited Adedoyin Allen | aallen@afrinvest.com Christopher Omoh | comoh@afrinvest.com Brokerage Asset Management Abiodun Keripe | AKeripe@afrinvest.com Investment Research
THISDAY AFRINVEST 404488.778436-1.31%0.90075653.48877840.062326 0.00885.3512991.2803540.0445670.055971 THISDAY AFRINVEST 404488.78-1.31%90.1%348.9%6.2%0.9%5.4x1.3x4.5%5.6% 1Airtel Africa PLC2,200.00 0.00%13.2% 16.6%16.6%4.5%1.3%2.2% 2MTN Nigeria Communications PLC229.00 -1.29%6.9% -13.3%-13.3% -4.7%6.8%-2.4% 3Guaranty Trust Holding Co PLC49.00 -6.49%8.8% 21.0%21.0%38.3%5.6%3.4x1.2x6.5%29.3% 4Zenith Bank PLC43.20 -1.82%7.3% 11.8%11.8%27.6%3.0%3.0x0.7x7.8%32.8% 5Access Holdings PLC23.00 -3.97%5.0% -0.6%-0.6%20.5%1.5%3.0x0.5x8.9%33.0% 6United Bank for Africa PLC26.50 -3.64%5.1% 3.3%3.3%39.5%3.9%1.8x0.5x5.1%54.5% 7Dangote Cement PLC686.70 0.00%8.4% 114.7%114.7%32.2%13.5%26.1x6.9x4.9%3.8% 8SEPLAT Energy PLC3,370.00 0.00%4.9% 45.9%45.9%4.7%2.4%17.9x0.8x3.3%5.6% 9Lafarge Africa PLC36.20 -2.16%3.5% 14.9%14.9%12.0%8.0%11.4x1.3x5.2%8.8%
Transnational Inc26.00 6.12%3.0% 24.4%24.4%26.9%1.2%1.5x0.4x1.9%66.4%
Corp of Nigeria13.75 -0.36%3.3%
10Ecobank
11Transnational
0.00%0.7% -6.3%-6.3%-60.2%-11.6%1.0x-57.9%
0.00%1.9% 150.6%150.6% 155.8x55.4x0.9%0.6%
0.00%0.9%
42.3%42.3% -43.2%-58.8%
28United Capital PLC23.00 -4.17%0.6% 0.0%0.0%22.9%1.6%12.1x2.3x7.7%8.3%
0.00%0.6% 0.0%0.0%
14.0%
0.00%0.8% 39.5%39.5%6.9%3.7%160.9x15.0x0.2%0.6% 31Presco PLC231.50 0.00%0.6% 19.9%19.9%67.6%20.0%7.6x4.1x3.8%13.1% 32Multiverse Mining and Explorat15.30 0.00%0.4% -17.6%-17.6%41.4%6.8%153.2x4.0x0.3%0.7%
0.00%0.3% -24.8%-24.8%-42.1%-11.2%2.1x-25.2%
Plc143.20 0.00%0.5% 47.6%47.6%17.4%6.6%69.9x12.6x1.6%1.4%
Nigeri346.50 0.00%0.3% -10.0%-10.0%24.3%3.8%9.1x2.1x7.2%11.0% 36Oando PLC11.55 0.00%0.2% 10.0%10.0% 3.2%3.8x26.3% 37Wema Bank PLC8.50 0.00%0.3% 51.8%51.8%22.7%1.2%4.7x0.9x3.6%21.4% 38Julius Berger Nigeria PLC60.00 0.00%0.3% 39.5%39.5%15.6%2.2%7.5x0.9x5.0%13.3% 39Unilever Nigeria PLC17.00 -2.86%0.1% 14.9%14.9%12.0%6.9%9.8x1.3x4.4%10.2% 40Notore Chemical Industries Ltd62.50 0.00%0.0% 0.0%0.0%-309.2%-40.0%15.5x-125.6% THISDAY AFRINVEST 40 INDEX Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
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33Guinness Nigeria PLC49.60
34BUA Cement
35TotalEnergies Marketing
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MORISON2.129.8% SCOA2.369.8% INTENEGINS1.589.7% NEM9.809.5% TIP2.508.7% MAYBAKER6.558.3% UNIVINSURE0.408.1% DANGSUGAR56.006.3% ETI26.006.1% UPDC1.485.7%
%
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CILEASING3.50-9.8%
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BUSINESS WORLD
RATES AS AT APRIL 4,2024
PMI Report: Productivity Grew Slightly in March Despite Strong Inflationary Pressure
Dike Onwuamaeze
The rate of expansion in business activity quickened slightly in March but remained relatively modest as the rate of purchase price inflation hit a fresh record high for the second consecutive month, largely due to the impact of currency weakness.
This was revealed by the Purchasing Manager Index (PMI) of the Stanbic IBTC Bank Nigeria, which showed that the productivity of the private sector recorded 51.0 percentage points during the month under review, adding that “the rate of output price inflation was also the steepest since the series began in January 2014 as close to 69 per cent of respondents increased their
charges over the month.”
Some of the sectors that witnessed improved activities during the month under review were agriculture, manufacturing, wholesale and retail and services categories.
According to the report: “The headline PMI was unchanged at 51.0 in March, the joint-lowest in four months. The latest reading pointed to a slight improvement in business conditions during the month, and one that was softer than the series trend.”
The report added that, “Nigerian companies registered a fourth consecutive monthly increase in output during March, thanks to the impact of marketing efforts and higher customer numbers.
“The pace of expansion quickened from that seen in February, but was still relatively modest. Some firms indicated that sharp price rises had a negative impact on client demand.”
Commenting on the PMI report, the Stanbic IBTC Bank’s Head of Equity Research, West Africa, Mr. Muyiwa Oni, noted that the impact of currency weakness on the Nigerian private sector was evident again in March.
Oni said that “purchase costs rose at the sharpest rate on record, meaning companies increased their own selling prices at an unprecedented pace.
“The rate of expansion in business activity ticked higher, but steep price rises acted to limit
demand and the pace of new order growth eased to a four-month low. Meanwhile, employment decreased for the second month running.”
According to him, the headline figure derived from the survey is the PMI above 50.0 signaled an improvement in business conditions on the previous month, while readings below 50.0 showed deterioration.
He said: “The headline PMI was unchanged at 51.0 in March, the joint-lowest in four months. The latest reading pointed to a slight improvement in business conditions during the month, and one that was softer than the series trend.
“The rate of expansion in business activity quickened slightly
from February, but remained relatively modest. Increases in activity were seen in each of the agriculture, manufacturing, wholesale, retail and services categories.”
Oni added, “price pressures remained elevated in March. In fact, the rate of purchase price inflation hit a fresh record high for the second consecutive month, largely due to the impact of currency weakness. There were also some reports of higher transportation costs.
“Employee pay was also increased in response to cost-of-living pressures, resulting in the sharpest rise in staff costs since last November.”
Oni also pointed out that with prices rising sharply, firms faced
challenges securing new orders. Although new business increased for the fourth month running as some companies noted greater client interest, the rate of expansion was the softest in the current sequence of growth. According to him, “purchasing activity returned to growth, however, following a reduction in the previous survey period. Where input buying increased, this was linked to efforts to meet new order requirements in a timely manner. This was also a factor behind sustained growth of inventories.
Chinedu Eze
A recent study carried out by aviation experts and scholars has indicated that two major factors have been responsible for the failure of domestic carriers in Nigeria.
The report identified policies enunciated and implemented by government that are unfavourable to successful airline operation in the country, as well as the poor management of the carriers.
Nigeria has the awful record of having airlines with the shortest life span, put at an average age of 10
years. Some, which emerge with high hopes over time succumb to pressures of hostile operating environment, inimical policies and bad decisions by their management.
The study was jointly carried out by K.O Uhuegbo; S. Darandara; M. Jibril and E. Okafor of the Nigerian College of Education, Ahmadu Bello University, Zaria, in conjunction with Air Force Institute of Technology. They came to the conclusion that there is a significant relationship between leadership and airline failure in Nigeria. The findings of the study
indicate that the five top ranked factors that contribute to failure of airlines in Nigeria are ownership and management structure, economic condition, lack of supportive economic policy, financial performance and operational efficiency in the airlines.
“The correlation results showed that ownership and management structure, policy summersault and economic conditions were also identified as contributors to airline failure when related to airline leadership. Also, other factors such as economic policies, existing
government policies, financial and operations factors, satisfaction and loyalty, satisfaction and security, modern infrastructure, political condition and culture of travellers were correlated but negative. The regression results indicated that ownership and management structure, policy summersault and economic conditions were positively related to airline failure,” the report stated.
Although these factors have been reiterated variously in the past and airlines have decried the high charges leveled on them from the first day
they start operation, the multiple taxation and failure by the federal government to grant tax waiver on the first one or two years of startup of operations, tend to hamper the airlines and significantly deplete their operation funds.
On the other hand, airlines have been accused of poor due diligence, inability to critically study the airline business before going into it and the failure to adopt strong management team with boards and seasoned experts so that such airlines would not be run by unilateral decisions.
The report titled: ‘Causes of
Failure in Domestic Airlines in Nigeria Aviation Market’, explained that the researchers carried out a standard multiple regression with airline leadership as the dependent variable and economic policies. The report also showed existing government policies, ownership and management, financial operations, customer satisfaction and loyalty, safety and security, modern infrastructure, political condition, culture and travellers.
Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com 08056356325 25
MONEY MARKETREPOS & P INDEX S & P INDEXEXCHANGE RATE OPR 25.34% CALL 23.25% INDEX LEVEL 595.26 1/4 TO DATE 0.24% N1,262.85/ 1 US DOLLAR* OVERNIGHT 25.18% 1-MONTH 21.37% 1-DAY 0.10% YEAR TO DATE -10.99%*AS AT THUR., APRIL 4, 2024 3-MONTH 22.41% MONTH-TO-DATE 0.24%
Report
Failure of Nigerian Carriers to Poor Government Policies, Airline Leadership The story continues online on www.thisdaylive.com The story continues online on www.thisdaylive.com THISDAY FRIDAY, APRIL 5, 2024 BONDS DESCRIPTIONPriceYield Change (%) Updated Time ^13.53 23MAR-2025 94.6919.79 0.01 April 4, 2024 ^12.50 22JAN-2026 90.2619.09 0.01 April 4, 2024 ^16.2884 17MAR-2027 93.95 19.05 -0.79 April 4, 2024 ^13.98 23FEB-2028 84.26 19.97 0.01 April 4, 2024 ^14.55 26APR-2029 85.19 19.25 0.01 April 4, 2024 MARKET DATA AS AT THURSDAY, APRIL 4, 2024 BILLS MATURITYDiscountYield Change (%)Updated Time NTB 11-Apr24 12.11 12.14 -0.01 April 4, 2024 NTB 9-May24 14.20 14.40 -0.01 April 4, 2024 NTB 6-Jun24 16.25 16.73 0.00 April 4, 2024 NTB 11-Jul24 15.1015.74 -0.01 April 4, 2024 NTB 8-Aug24 15.5016.38 -0.01 April 4, 2024 OTC FX FUTURES CONTRACT TENOR (MONTH) Contract Current Rate ($/₦) Updated Time 13M NGUS MAR 26 2025 – April 4, 2024 14M NGUS APR 30 2025 – April 4, 2024 15M NGUS MAY 28 2025 – April 4, 2024 16M NGUS JUN 25 2025 – April 4, 2024 17M NGUS JUL 30 2025 – April 4, 2024 CPS MATURITYDiscountYield Change (%) Updated Time LFZC CP IV 16-APR-24 21.0221.18 0.01 April 4, 2024 MTNN CP VII 14 -MAY-24 18.68 19.08 -0.02 April 4, 2024 UACN CP VI 19-MAR-24 18.50 19.26 -0.04 April 4, 2024 DUFIL CP III 25-JUL-24 18.61 19.75 -0.24 April 4, 2024 FDHC CP VI 2-AUG-24 16.57 17.52 -0.31 April 4, 2024
Attributes
Aiseubeogun Advocates
Liberalised Regional Airspace
Stories by Chinedu Eze
AIR WATCH BUSINESSWORLD
Former Managing Director of the Federal Airports Authority of Nigeria (FAAN), Dr. Richard Aisuebeogun has called for more liberalised African airspace to enable greater connectivity and improve air transport on the continent.
He made the call during his presentation at the Walk for Love Africa Summit 2024, held in Lagos.
Aisuebeogun who is currently the Managing Director of Avialog Company Limited, emphasised the pivotal role of liberalisation in fostering inclusive growth across Africa.
Speaking on the theme: “Liberalization of the African Skies: The Way Forward,” Aisuebeogun stressed the importance of making
concerted efforts in removing barriers and promoting competition within the continent’s aviation sector.With Africa’s population surpassing 1.46 billion across 54 diverse nations, Aisuebeogun reiterated the importance of intra-continental air travel growth. However, he lamented the hindrances posed by sluggish liberalization efforts and Bilateral Air Services Agreements (BASAs), which impede intra-African connectivity. He identified high operating costs, restrictive visa policies, and disparities in liberalisation measures as significant challenges to African air travel.
Addressing these obstacles, he stressed the imperative of fostering sustainable growth and ensuring widespread accessibility to air travel across the continent.
Moreover, Aisuebeogun emphasised the crucial role of enhanced air connectivity in driving economic activities, trade, tourism, and investment within Africa and beyond.
Regarding the Yamoussoukro Decision (YD) implementation, Aisuebeogun acknowledged progress but highlighted wavering compliance among African states, hindering the realisation of the Single African Air Transport Market (SAATM) and its associated benefits.
In 1999 African ministers responsible for civil aviation under the aegis of the Organisation of African Unity (now the African Union) adopted the Yamoussoukro Decision – a multilateral agreement between Africa’s 54 countries designed to liberalise the continent’s aviation market.
Ethiopian Group Inaugurates New Jinka Airport Terminal
Ethiopian Airlines Group, the largest airline group in Africa, has inaugurated its Jinka airport project, unveiling a new terminal and support facility buildings.
The new state-of-the-art airport terminal is now open for service, following a grand celebration held recently in Jinka, one of the emerging cities in the South Ethiopia Regional State. The two-and-a-half-year project covered the construction of a new terminal building having a total built-up area of 3,500 square meter, support facility building, and external facilities including exclusive
VIP parking area and other facilities.
Regarding the inauguration of the new Jinka Airport, Ethiopian Airlines Group CEO Mr. Mesfin Tasew said: “We are truly delighted to witness the completion of the brand new Jinka Airport Terminal Building project that has been under construction for the last few years. As a national flag carrier, Ethiopian is playing its part in the country’s aviation transformation and Jinka is our latest contribution to Ethiopia’s modern aviation facility. The new Jinka airport will further offer a comfortable
travel experience to/from the city thereby boosting trade and tourism in the region and beyond. Committed to enhancing customer experience, we will continue to investin renovation and upgrading of domestic airports.”
Following the finalisation of the project with an investment cost of more than 8 million Euro for construction, Jinka Airport Terminal is now equipped with modern passenger service areas including departure and VIP lounges and other facilities that will enhance customer experience.
Chinedu Eze
Nigerian airlines have identified their inability to acquire aircraft as one of the challenging factors eroding their success and profitability.
Outright purchase of aircraft is difficult because of the huge funds involved and the banks are not willing to give them long-term loans at single digit interest. The federal government is yet to direct the Bank of Industries (BoI) to create asset capitalization department for the acquisition of high end mobile assets like aircraft and ships at very low interest rate.
So, the airlines are left with aircraft leasing; but even in that they face another hiccup: lessors and aircraft manufacturers are not willing to lease aircraft to the Nigerian airlines on long term, known as dry lease. Their reason is that in the past some Nigerian carriers, which have become defunct, acquired aircraft on long-term lease but did not keep to the tenets of the agreement terms. Some of them went to court to contest the recovery of the aircraft by the lessors. Some of them seized the aircraft and kept them in Nigeria longer than the period agreed.
Nigeria new carrier, Green Africa Airways said it achieved remarkable success with schedule reliability and on-time departure in the first quarter of 2024.
Starting the year with an impressive On-time Performance (OTP) of 83.06 per cent, the airline said it concluded Q1 with an outstanding 97.09 per cent OTP and 99.55 per cent schedule reliability. OTP in aviation is the percentage of scheduled flights departing within 15 minutes of the published time.By ensuring dependable flight schedules and timely departures, the airline empowers customers to plan their journeys with confidence. Senior Manager of Airport Services at Green Africa, Olayinka Adeyiga, said: “Our On-Time Performance has soared from 83.06 per cent in
January to 89.80 per cent in February, and an industry-leading 97.09 per cent in March. This achievement reflects our unwavering commitment to providing safe, affordable and reliable service to every Green Africa Customer.”
The airline said despite external challenges, including adverse
weather conditions and airspace closures, Green Africa remains steadfast in its pursuit of operational excellence. Operating from the General Aviation Terminal (GAT) in Lagos, the airline serves multiple destinations including Abuja, Akure, Benin, Enugu, Ibadan, Ilorin, Owerri and Port Harcourt.
This unsavoury situation prompted lessors to have tacit agreement that they won’t lease aircraft to Nigerian carriers on long term. There are three main types of leases: wet lease, damp lease and dry lease. Wet lease is normally used for short term, damp lease is a wet lease with partial crew and dry lease is lease arrangement where the airline gets the aircraft on long term, register it and operate it with its own full crew.
Wet lease and damp lease are very costly because they come with crew, where the lessor maintain the aircraft and insure the aircraft and numerous charges and costs paid in foreign exchange. The situation is exacerbated by the fact that Nigeria is designated as high countryrisk; so, the cost of everything is almost doubled. There are views, however, that lessors so designated the country to ensure a continuous rip of domestic airlines. This is because in the past 10 years nothing unusual in the area of safety or security that could justify such designation. Some industry stakeholders see it as stereotyping, just believing that Nigeria has high country risk.
Great Characters Muhammad Ali™
Pololuxury, Nigeria’s foremost luxury goods company, is thrilled to unveil the Montblanc Great Characters Collection, a tribute to Muhammad Ali, the legendary boxer, sportsman and humanitarian. This exclusive collection of writing instruments celebrates the remarkable journey of Muhammad Ali, from his reign as a boxing champion to his enduring legacy as a global inspiration. Crafted with meticulous attention to detail, each edition in the collection pays homage to different aspects of Ali’s life and career. From symbols of his boxing achievements to nods of his significant victories and humanitarian efforts, every piece reflects the indelible mark Ali left on the world.
Speaking regarding the new collection, the Executive Director of Pololuxury, Jennifer Obayuwana, said: “We are honoured to introduce the Montblanc Great Characters Muhammad Ali Collection. This collection not only celebrates Ali’s extraordinary accomplishments in the boxing ring but also his enduring legacy as a symbol of courage, resilience, and compassion.” The collection features three distinct editions, each with its unique design elements and limited availability: Montblanc
Special Edition
This edition embodies Ali’s accomplishments in boxing. The engraved lines on the cone depict the four ropes of a boxing ring, while the cap mirrors a punchbag. The texture of the matte black precious resin barrel suggests the feel of hand wraps worn by boxers. Inspired by Ali’s title belt, the clip is skeletonised and engraved with ‘ALI.’ A laurel wreath signifies his triumphant victories and the handcrafted solid Au 585 gold nib pays homage to Ali’s boxing gloves.
Montblanc Great Characters
Muhammad Ali™ Limited Edition 1942, Limited to honour the year of Ali’s birth, this edition incorporates design elements from pivotal moments in his career, such as the historic ‘Rumble in the Jungle’ fight. It showcases a yellow gold-coated bandage motif and green lacquered lines representing boxing ring ropes. The cap features a distinctive white and black lacquer pattern inspired by Ali’s attire during the fight, with the cap ring bearing the inscription ‘KO-W8 (15)’ to commemorate his victories. Moreover, a Montblanc emblem with the number ‘2’ commemorates his second world title.
Fielding questions on the sideline of Air Peace Lagos-London inaugural ceremony last week, the Chairman of United Nigeria Airlines and spokesman of Airline Operators of Nigeria (AON), Professor Obiora Okonkwo, said current airlines would not continue to suffer the sins of old airlines.
Okonkwo commended the Minister of Aviation and Aerospace Development, Festus Keyamo for the efforts he is making to rescind the country risk stigmatization and allow Nigerian carriers to lease aircraft on long term. He also noted that the Federal Government could use policy to also protect Nigerian carriers in the area of aircraft leasing.
“We are happy that the Minister has agreed with us that there is a problem in that area, which is access to equipment and others, but I can tell you that it is just the policy that needs to be done. It is the business of the operators to go and source aircraft, but there are areas in terms of policy that need to be touched. That is what we want the Minister to focus on. I do not see any reason modern day operator should suffer the sins of the old-time operators because any lessor will tell you that there had been some violations in the past, but today, we are not violating any lease agreement. Rather, they are the ones that are violating us. So, this is very critical. And also policy wise, there must be a window for foreign exchange because when you need aircraft, there are specific days of demand, you must be able to pay what is accruable,” Okonkwo said. In other words, he is suggesting that
government should have a policy that will enable airlines to source forex easier to pay the lessors whenever the lease payment is due; so that they will not default; noting that striving to source forex in the open, parallel market could cause delays and make the airline default in time scheduled for payment.
“Also, policy-wise, there must be a window for foreign exchange because when you lease an aircraft, there are specific days of the month you must be able to pay what is accruable, but if you are left alone as an airline to be scampering for foreign exchange in the open market, like any other importer, you will probably miss the deadline.
“So, if we sign our lease agreement, let’s submit it to the CBN through our banks and let them guarantee it. As long as it is guaranteed, it is about money. There are aircraft all over the world, it is not our business to buy aircraft. The biggest operators do not buy aircraft because the presence of that amount of money in your balance sheet, does not make your feasibility study bankable. So, that is why people prefer to lease.
“Even, if you look at the bigger carriers, they have a leasing company that is separate from the operating company. You can imagine if you have hundreds of millions of dollars in your balance sheet and then, you are just turning in few millions on a monthly basis, you will not look for any lender,” he said. He also called on the government to look at aircraft insurance, which he said has exploitative premium.
“Also, our insurance too has to be looked into. We are paying so much premium. The risk is very high. So, we think that the Minister having identified the challenges, let him work closely with the airlines to look at the policies that will work from the angle of NCAA. More importantly, the government of the day through the CBN, Minister of Finance, looking at certain policies that would work,”, Okonkwo further said.
On aircraft maintenance facility, Maintenance, Repair and Overhaul (MRO), he said: “Talking about MRO, airlines can put up their own MRO here. United Nigeria is working on its own MRO. Look at a situation where you have an MRO, which will serve you and other operators, there, you will only order spare parts from foreign countries. The CBN is asking for certification for engine of aircraft importation. This is not going to work. These are policy issues. We are ready to sit down with the policymakers to see how these things will work.”
26
AIR WATCH
Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Peter Uzoho (Energy) Ugo Aliogo (Development)
THISDAY In Tribute to Mohammed Ali, Pololuxury Introduces Montblanc Great Characters Collection
Green Africa Concludes Q1 2024 with 97% On-time Performance
Nigerian Airlines Suffering Misconduct of Their Forebears
NCS: Enhancing Trade Facilitation with AEO Programme
Eromosele Abiodun posits that the move by the Comptroller-General of the Nigeria Customs Service, Mr. Adewale Adeniyi, for the deployment of Authorised Economic Operators will enhance the efficiency and predictability of trade facilitation efforts, which will in turn foster a vibrant economy for the country
Globally, the role of the Authorised Economic Operator (AEO) as a secure and safe business partner in trade facilitation cannot be overemphasized. To ensure that cargoes are released seamlessly based on the level of trust built from one level to another demands unambiguous procedures and professionalism. Among others, they help to improve relations with the Customs and other government authorities; reduce theft and losses; ensure minimal delay in shipments; improve planning, customer service and loyalty; lower inspection costs of suppliers; and enhance co-operation among collaborating bodies and agencies, etc.
In addition, AEO Programs create customsto-business partnerships aimed at securing the supply chain and facilitating legitimate low-risk trade.
According to experts, the AEO certification process allows governments to evaluate and then control customs and security processes by allowing them to assess risk points, improvements and opportunities to secure and optimise your customs function.
In the performance of its functions, the Authorized Economic Operator shall ensure global best practice by referring all players in the maritime and transport value chain to guidelines and pacts for promoting trade.
Essentially, the AEO status is an internationally recognised standard indicating that the business role in the international supply chain is secure and has customs control procedures that meet Authorised Economic Operator standards and criteria.
It is in recognition of this that the Nigeria Customs Service (NCS), under the leadership of Mr. Adewale Adeniyi, is pushing to the operationalise AEO concept to ease business at the country’s ports.
EASE OF DOING BUSINESS
Speaking at a recent stakeholders’ engagement to promote the concept, Adeniyi said the programme would foster collaboration involving the Service, other government agencies, and experts.
The CGC underscored the determination needed to work together and ensure that the negative narrative about the ease of doing business in and around Nigerian ports was reversed for the better.
According to him, “And if you have observed, you will also see that AEO cuts across virtually every player in the sector, the exporter, the importer, the government agencies, regulatory agency, the customs, and everybody in one way or the other.
“This allows us to address some of those issues so that when next operators talk about compiling how much it takes them, we will see data that are a little bit more friendly.”
TIME RELEASE STUDY
According to him, the NCS in February 2024 launched a Time Release Study (TRS) as another measure to optimise the trading experience within the country.
Adeniyi further assured the stakeholders of the customs’ preparedness to run the AEO pilot programme, which would hopefully start on April 15, 2024.
He also explained that the objectives of the pilot were to evaluate the visibility and effectiveness of implementing the AEO initiative within the Service and to solicit feedback from all key stakeholders in orer to decipher where changes are required.
“And
Specifically, he stated, “All these pilots that we want to run, we aim to identify potential challenges, fine-tune our processes, and lay the groundwork for a full-scale rollout of the AEO programme.”
The CGC expressed optimism that the service will be committed to fostering transparency, inclusivity and collaboration, while ensuring that the program’s designs and execution align seamlessly with international standards.
“Why we want to do this is that we want to remain attuned to the unique realities of our local context. Seven key stakeholders that are legal entities whose operations span across the international supply chain have been carefully selected by the pilot programmes.”
He further expressed his readiness to partner with business stakeholders to enhance trade in the country, urging participants to expedite their commitment to ensuring the potential of the programme, which would foster a culture of efficient customs processes compliance, integrity, and collaboration that will propel the country.
He said, “This is a collective and transformative journey we must come together with renewed determination. Knowing that together we can shape a future that knows no boundaries, and prosperity with no limits.”
The CGC underscored the determination needed to work together and ensure that the narrative is changed about the ease of doing business in and around Nigerian ports. “And if you have observed, you will also see that AEO cuts across virtually every player
if you have observed, you will also see that AEO cuts across virtually every player in the sector, the exporter, the importer, the government agencies, regulatory agency, the customs and everybody in one way or the other. So, this allows us to address some of those issues. So that when next operators talk about compiling how much it takes them, we will see data that are a little bit more friendly.”
in the sector, the exporter, the importer, the government agencies, regulatory agency, the customs and everybody in one way or the other. So this allows us to address some of those issues. So that when next operators talk about compiling how much it takes them, we will see data that are a little bit more friendly,” he said.
AEO PILOT PROGRAMME
Adeniyi expressed optimism that the Service will be committed to fostering transparency, inclusivity and collaboration while ensuring that the program’s designs and execution align seamlessly with international standards.
He said, “Why we do this is we want to remain attuned to the unique realities of our local context. Seven key stakeholders that are legal entities whose operations span across the international supply chain have been carefully selected by the pilot programs.”
He revealed that selected Importers, Exporters, Small and Medium Enterprises, Customs Licenced Agents, Logistics Operators, and Government Agencies are pilot stakeholders to run the pilot scheme of the AEO program in Nigeria.
He also urged the participants to expedite their commitment to ensuring the potential of the AEO program, which would foster a culture of efficient customs processes compliance, integrity, and collaboration that will propel Nigeria.
Also speaking, Chief Superintendent of Custom and Project Manager of the Authorised Economy Operator, Awa Nnenna, said the pilot phase of the program is designed to streamline Customs clearance processes while ensuring transparency and inclusivity in line with international standards.
Awa noted that the key benefits of the AEO program include expedited Customs clearance procedures and the establishment of mutual trust between Customs authorities and accredited operators.
He added, “By facilitating smoother trade operations, the programme aims to stimulate economic growth.”
On his part, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, commended the Nigeria Customs Service for its proactive approach to engaging small-scale business owners
“As we are launching this scheme, I am looking forward to the many more testimonials within the next six months. What we want to do is get all the testimonials to help ease the operations at the port and see how these will trickle down to job creation and just helping to increase livelihoods of small business owners in Nigeria.”
through the Authorised Economic Operator program.
Odii, while reiterating his commitment towards supporting the AEO programme, said the initiative will contribute to the growth of Nigeria’s GDP and foreign exchange reserves.
He emphasised the importance of creating avenues for domestic business owners, particularly SMEs, to participate and benefit from such initiatives.
He stated, “I believe that this program will enable SMEs to enhance their investments and leverage the opportunities presented by the AEO window.”
He added that the program will not only streamline trade processes but also change the narrative surrounding trade in the country, ultimately fostering a more conducive environment for business growth and development.
“As we are launching this scheme, I am looking forward to the many more testimonials within the next six months. What we want to do is get all the testimonials to help ease the operations at the port and see how these will trickle down to job creation and just helping to increase livelihoods of small business owners in Nigeria,” he added.
In the same vein, the CEO of the Nigeria Shippers Council (NSC), Mr Pius Akutah, commended the NCS for the initiative and reiterated the Council’s commitment towards supporting and ensuring the success of the AEO programme.
PARTNERSHIP WITH JOINT TAX BOARD
Meanwhile, to strengthen and enrich strategic collaboration towards fostering a vibrant economy for the country, the Nigeria Customs Service and Joint Task Board, recently signed a memorandum of understanding (MOU) in Abuja.
The MOU was signed on Monday, 18 March 2024, during a courtesy visit by the Secretary of the Joint Tax Board, Olusegun Adesokan, to the Nigeria Customs Service, aiming to foster collaboration and enhance effective tax management in Nigeria.
The CGC emphasised the collective efforts invested in finalising the MOU.
Apart from fostering a vibrant economy for the country, it aims to lay a foundation for future endeavours and integrate fiscal policies to enhance data facilitation.
The Executive Secretary of the Joint Tax Board, Olusegun Adesokan, extended his deepest appreciation to the Comptroller-General of Customs and the service.
He noted, “As a result of this, the meeting on the 16th of January has indeed reached a milestone. I commend the team for their foresight that led to the successful signing of the MoU.”
27
Adeniyi
BUSINESSWORLD MARITIME THISDAY
Air Peace Inaugural London Flight and Challenges Ahead
Many Nigerians were elated last week when Air Peace successfully operated its inaugural flight to London. Although UK is Nigeria’s second home, Nigerian carriers have not successfully operated the route on long term basis, writes Chinedu Eze
The excitement is still thick in the air about Air Peace’s successful inaugural flight with full capacity of about 260 passengers.
Nigerians are excited for many reasons, but majorly because the route is dominated by two British carriers, British Airways and Virgin Atlantic Airways, which charge outrageous and exploitative fares on the Nigerian route.
With a Nigerian carrier, Air Peace, travellers on the route will now have a fair deal in terms of prices. With the entrant of the Nigerian airline, the two British carriers have already lowered their fares to brace up for competition. The second reason is that the Nigerian flag should be regularly seen in major UK airports. So, it is a thing of pride for Nigerians to see an aircraft registered in Nigeria and with Nigerian crew operating to London.
RIP-OFF FARES
Over the years, Nigerians have become miffed with the rip-off fares charged travellers on the route. To make this clearer, what foreign airlines charge on the Lagos-London flight is more than double what they charge on Accra-London route. Many industry observers posit that it is due to demand and supply principles; that Nigerians like to travel and they always fill the aircraft cabin from the front to the end.
The high fares are not limited to Lagos-London route but to all the destinations in Europe: Paris, Amsterdam and others, which are average of six hours from Nigeria. The high fares also extend to all other routes in different parts of the world from Nigeria. In a recent interview, the Chairman and CEO of Air Peace, Dr. Allen Onyema said six hours flight from Lagos to London costs more than nine hours flight from Johannesburg to London. So, the major benefit of having a Nigerian carrier operate to London is that it will tame the fares.
Air Peace has made history with its flight to London; but has also awakened anxiety in the minds of industry insiders. Will the airline operate briefly and stop like its predecessors or
will it go the long haul? In the past, Nigerian airlines operating the route had been stopped in their strides by circumstances they could not overcome. Insiders attributed this to the shortcomings of the airlines and aeropolitics.
From industry responses to investigation by THISDAY, it is obvious that the airlines, which have literally been making a kill on the route would not want a competitor because a competitor would curb their earnings from the route, recognised as the most profitable route per passenger among the European carriers. So, they would use all the tactics at their behest to stop any Nigerian airline operating the route in order to enjoy their monopoly of the destination.
AVIATION AUTHORITIES
THISDAY learnt that aviation authorities at the UK airports are frequently used to frustrate Nigerian carriers, from their being niggardly with slots, which most often they would say is not available or they would sell it at high prices through third party or they would issue staccato schedule to an airline to create uncertainty in the passengers who would be confused about their favourite airline’s flight schedule. That was one of the things
Air Peace contested against. The authorities usually deny the airlines the airport of choice as they did to Medview and Air Peace, which they gave Gatwick instead of Heathrow.
There are other antagonistic tactics like using security to delay flights by wasting time screening passengers luggage, penalizing airline for late flights and scrutinising the profiles of operating aircraft, the crew and checking technical details, which they use to delay the flights. The undue strictness would eventually get to the airline and either it would spend so much paying penalties for late departures or any other alleged infractions, or it is paying too much for slot or the passengers become frustrated because of induced delays or any other factor.
With time the airline would realise that it is not making profit of the route and decide to back out. That was what happened to Arik Air London- Abuja flight. They couldn’t sustain the route because of the losses due to cost of slot and indifference of the Nigerian government. But it is good to note that Arik Air successfully operated Lagos-London route for over nine years until it was stopped by Asset Management Corporation of Nigeria (AMCON) that took over the airline in
receivership. Stopping the airline from the London route was one of the not well thought-out, knee-jack decisions of the government agency.
The Managing Director of Flight and Logistics Solutions Limited, Amos Akpan, commended Onyema for being able to pull through despite all the challenges and threw light on what could be expected on the Lagos-London route.
“I congratulate Dr. Allen Onyema and the Air Peace team because they have shut the mouth of negative commentators and pessimists. This is a case of result terminates insult. They kept working towards their desired result until they achieved it in spite of the obstacles. They have made the statement that, ‘we can’, to existing and intending Nigerian operators. ‘BA and Virgin’ will use whatever they have to make sure Air Peace does not take over their share of the market in the route. This is expected. What arsenal they deploy is left for the regulators in both countries to ensure all parties act within acceptable norms.
“It must be mentioned that countries have their template for the strategies they deploy in this kind of fight. Which agencies and groups they use are properly briefed and they know the steps to take when the war to capture, to retain, and to protect the market starts. They don’t mention the tools like airport authority, handling companies, aeronautical services providers; each knows what role to play while remaining professional in their approach. My adviceto Air Peace and the Nigerian aviation agencies is to avoid making public comments about the strategies and tools deployed to execute the ‘war’. Just act according to your script in response to what is happening in the field.
“The airports in UAE and UK knew what to do to frustrate Air Peace, they didn’t make it look like their national agenda, they did not wait for their Ministers to announce it as policy.
28
THISDAY FRIDAY, APRIL 5, 2024 BUSINESSWORLD AVIATION
The story continues online on www.thisdaylive.com
This Weekend FRIDAY, APRIL 5, 2024 WEEKLY MAGAZINE Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com 07010510430 How Lagos State is Promoting the Industry WORLD THEATRE DAY
How Lagos State is Promoting the Industry
The Lagos State Council for Arts and Culture, which operates as a subsidiary of the Lagos State Ministry of Tourism, Arts and Culture, recently organised live performances to mark the celebration of the 2024 World Theatre Day. Themed “Theatre and a Culture of Peace,” the event was held in Ikoyi, Lagos, and served as yet another milestone in the ongoing efforts by the Lagos State government to promote theatre activities in the state, the country, and indeed the entire African continent. Writes MARY NNAH
The Lagos State government is currently supporting various initiatives aimed at promoting the rich cultural heritage of Nigeria and Africa as a whole. To achieve this objective, the state government is taking steps to involve more stakeholders in showcasing Nigerian and African culture through various events and activities, particularly through stage performances.
Recently, the Lagos State Council for Arts and Culture, a subsidiary of the Lagos State Ministry of Tourism, Arts, and Culture, organised an impressive event to commemorate the 2024 World Theatre Day Celebration in Ikoyi, Lagos.
The event, which was themed “Theatre and a Culture of Peace,” was a vibrant display of African culture, featuring live performances by various groups, including the Lagos State Council for Arts and Culture, DNMT, Kings and Queens, and Footprints of David.
Special Adviser on Tourism, Arts, and Culture, Lagos State, Mr. Idris Aregbe, expressed his delight at the state’s commitment to intensify efforts to promote the theatre sector and expand its scope to involve more people.
“Lagos State governor, BabaJide Sanwo-Olu, believes so much in tourism and entertainment and we need to follow his footprints in this aspect. That is why I am super happy today as a member of his exco group and I have told him that I will continue to do everything possible to ensure that Lagos continues to lead in Arts, culture and tourism.”
“The State government supports every initiative in the tourism and entertainment industry and that has been our guide.
“We need to intensify and increase conversation and continue to loud it to the world because Lagos has a lot to contribute to theatre and tourism.
He said Lagos State is working to promote the theatre industry, and this effort is being recognised on World Theatre Day, adding that the promotion of the theatre industry in Lagos State is a priority and that the state government is taking steps to ensure its growth.
The state’s commitment to the theatre industry, Aregbe stressed further, is evident through its investment in infrastructure, talent development, and the creation of opportunities for local performers.
He emphasized the need to take advantage of Lagos State’s advantageous position, as the state’s tourism sector continues to grow.
He reiterated the Lagos State government’s full support for every initiative in the tourism and entertainment industry, including school competitions and the inclusion of theatre and African culture in the school curriculum.
“There are plans to take it to the next level in the area of school competitions and also inculcate it in the school curriculum so that students in secondary school, as well as the higher institutions, can be part of promoting theatre and African culture.
“It is not just about Yoruba culture, it is about Nigeria. It is about our identity as Africans and what we believe. We are determined to increase the conversation as we continue this journey.
Aregbe emphasised that the conversation is ongoing, and the state government would continue to take steps to increase the tempo and expand the scope of its efforts to promote tourism and culture in Lagos.]He highlighted the importance of increasing
the conversation around promoting African culture and theatre and expanding the scope to involve more people.
“We are expanding the scope, making sure that more people are involved and that is what we are doing today and that is why you have seen a lot of stakeholders today, coming together to stand for one thing, which is to promote the theatre industry”, Aregbe said,
The recent event marked a significant milestone for the Lagos State government, as it was the first time the Lagos State Council for Arts and Culture had an elaborate event to mark World Theatre Day, reflecting the state’s commitment to promoting theatre and entertainment.
Aregbe said further that he along with Honourable Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, is determined to take Lagos to where it truly deserves, adding that Lagosians should expect more entertainment programmes every month and collaborations with public-private partnerships to further promote tourism and culture in Lagos.
He emphasized the need to encourage privatepublic partnerships for the state and build a Lagos
where people don’t need to wait for Yuletides to see such performances.
“We want to build a Lagos where people don’t need to wait for Yuletides to see such performances. It is about looking at what we have in terms of music, theatre, events, films and so on, ensuring that we encourage private-public partnerships for the state”, he added.
Furthermore, veteran Actor and producer, Taiwo Ajai-Lycett, stressed the significance of the Theatre Industry, calling on the government and politicians to patronize and support the arts.
She emphasized that arts, folklore, and modernday entertainment are what attract tourists and bring value to the tourism industry and that politicians can do more by supporting them.
“We are not going to have tourism unless we have something that people are coming to visit. People come to see our arts, folklore and modern-day entertainment, these are what bring tourists.
I believe that politicians don’t know that they can do more by patronising and supporting the art than they are doing now. I think they are leaving entertainment to the periphery and I
think it is a mistake. I see entertainers here today coming as guests. So, the government hasn’t thought it through yet. They need to incorporate them in all these because these are the people who will draw people here”, Ajai-Lycett said.
Speaking further, she said, “Look at how alive this place is today and when you equate liveliness and creativity and everything to living your life, people become more interested.
“In theatre, that is where you relate to the audience. Just look at the relationship between the performers and the audience today. And when you are learning to act before you get into the movies, that is where you get to know what entertainment is all about. Entertainment sells ideas, hope and life - entertainment is about the things that worry us, and the dreams that we have- how can we realise our dreams and how can we make it happen.
“When you see somebody on stage and their life is going on well, you say, I want a bit of that. So you give them hope and they work harder to do what they can to achieve their dreams. You can see the infectiousness of it on stage. Working and training in the theatre will change your life forever. I am a beneficiary of what I am saying. I am almost 84 years old now and still rocking because of my training on the stage”, she said.
Taiwo Ajai-Lycett, who said the theatre industry is the lifeline of Nigeria, added, ”This is where the future of Nigeria is because we are an incredible people. We are creative and that creativity spills into science and all sorts of things. That is why I am saying if you major in the creative industry, you cannot fail as a country.
“If you look at countries like America and Europe, what is making these countries vast is their creative minds. It is not so much the politicians. The politicians are all enablers of the flow of life. And so if they get their priority right, and they start focusing on the people - when they focus on entertainment, you are focusing on the people. It is not all about the entertainers, it is all about switching your people on and getting them happy, excited and interested in what you are doing for them.
“Majority of our masses are just busy trying to survive but I think for a successful country to exist, people have got to be excited about living and not about surviving. So if they switch to entertainment and start thinking more about entertainment, the country will change for the better.”
“I know people may think I am partial because I am an entertainer but it is not so because we have examples all over the place. The people who were celebrating today were sitting in front as guests. I leave you to think about that”, she noted.
However, Lagos State is taking impressive steps to promote arts, culture, and tourism through various initiatives aimed at showcasing Nigerian and African culture.
The recent event was an impressive display of African culture, reflecting the state’s commitment to promoting theatre and entertainment.
The Lagos State government is committed to intensifying efforts to promote the theatre sector and expand its scope to involve more people, including school students, in promoting theatre and African culture.
COVER THISDAY 30
Special Adviser on Tourism, Arts, and Culture, Lagos State, Mr. Idris Aregbe (5th from left) with guests acknowledging cheers f rom the audience soon after the various performances
A cross-section of the audience engrossed in one of the stage performances
One of the dance troupes during a performance
IMAGES Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com 31 THISDAY DAY 2024
A cross-section of the members of The Lord’s Chosen Charismatic Revival Ministries in worship during the Easter Retreat tagged: ‘God’s Covenant of Peace and Blessing’, held at the Church headquarters in Ijeasha, Lagos State...recently
L-R: Director, Edge Facility Managers, Gbenga Olaniyan; former Executive Director, UAC Nigeria Plc, Rev. J.I. Dada; Head of General Services, FBNQUEST, Yvonne Anakwe; Director, Edge Facility Managers, Hakeem Ogunniran; Chief Executive Officer, Edge Facility Managers, Peju Fatuyi; Managing Director, FBNQUEST Trustees, Adekunle Awojobi; MD/CEO Landmark Group, Paul Onwuanibe; Director, Edge Facility Managers, Chudi Ubosi; and former Deputy Governor of Central Bank of Nigeria
Tunde Lemo,
the launch
Edge Facility Managers
L-R: The celebrant and writer, Chief Clem Ofuani; his wife, Chief Rosemary Ofuani;
Governor
Kaduna
PHOTO: ETOP UKUTT
(CBN),
during
of
in Lagos...recently
former
of
State,
Alhaji Ahmed Makarfi;
and former Governor of Delta State, Chief James Ibori, during the book launch of Ofuani’s autobiography titled: ‘From My Corner’, held in Asaba, Delta State...recently
L-R: The governorship candidate of the Labour Party (LP) in the 2023 general election in Lagos State, Mr. Gbadebo Rhodes-Vivour; Fanty Compos Queen, Ms. Adebola Daniel, and other celebrants during the Easter Monday celebration on Lagos Island...recently PHOTO: MUBO PETERS
Osun State Governor, Senator Ademola Adeleke (right), and Evangelist Ebenezer Fabiyi Obey (sitting left), during the 82nd birthday ceremony of Ebenezer Obey held at the Decross Gospel Mission Church, Iyana Ipaja, Agege, Lagos...recently
L-R: Osun State Governor, Senator Ademola Adeleke; Chairman, state Contract Review Committee, Hon. Kolapo Alimi; and state Commissioner for Commerce and Industry, Bunmi Jenyo, during the inauguration of the implementation panel on Contract Review White Paper held at the Government House in Osogbo... recently
L-R: Executive members of the Owa Secondary School Alumni Association, Owa-Oyibu, Ika North East Local Government Area of Delta State, Lagos chapter, Mr. Okwudei Goddy Eluoma (Bonny Wailer), Mr. John Moseri, Sunday Ngila, Mr. Sunday Kiwamu, Monday Etum (chairman), Mr. Blessed Ewere Michael, Dr. Charles Ogboi, Engineer Acha Sunday, Dr. David Ogala, Mr. Samuel Okongwor, Mr. Okwudibie Joseph, and Mr. Nduka Moseri (THISDAY/Arise TV associate director), during their reunion meeting held in Lagos…recently
UEF Signs Grant Agreement with 19 Clean Energy Developers for Stand-alone Solar Solutions Deployment across Nigeria
Gilbert Ekwugbe
Sustainable Energy for All (SEforALL) yesterday announced the signing of grant agreements with 19 clean energy developers under its Results-Based Financing (RBF) multi-donor fund, the Universal Energy Facility (UEF), Stand-Alone Solar for Productive Use (SSPU) programme, for the deployment of high capacity solar + battery storage systems to businesses and institutions cross Nigeria. These systems are expected to be fully installed and operational before the end of this year.
“This marks a significant step forward in our shared vision for a sustainable future. By signing these grant agreements, the UEF is truly making a difference by empowering clean energy developers to bring their innovative solutions to life. I’m incredibly proud of the UEF’s
work and excited to see the positive impact these projects will have on many lives,” Interim Chief Executive Officer, Global Energy Alliance for People and Planet (GEAPP), Joseph Nganga, said in a statement.
“Reliable clean electricity for homes, businesses (SMEs), and institutions, transforms daily life. Electricity stays on, harmful petrol and diesel gen sets will be removed which reduces indoor air pollution and CO2 emissions, equipment runs smoothly, and essential services like healthcare and education can function effectively. This unlocks economic opportunities and improves overall well-being, “he said.
“I am proud of the work we have all done to enable a better environment for the private sector to grow within the energy sector. The companies signing the grant agreements today
are a testament to the policies that have been put in place and capacity building efforts made in the past decade to build the sector,” Managing Director, Rural Electrification Agency, Abba Aliyu said.
“This significant expansion builds upon the success of the UEF’s initial launch of the SSPU programme in February 2023 when 10 developers received grants to deploy SSPU units in underserved or unserved communities. So far, over 1,600 systems have been installed, serving over 1,200 businesses and institutions such as health and educational facilities. The UEF has achieved significant progress over the past year, not only in Nigeria but also in Benin, the Democratic Republic of the Congo, Madagascar, and Sierra Leone with thousands of Africans benefiting from this facility.
Visa Expands Global Value-added Services Business with AI Solutions
Visa, a leader in digital payments, has expanded its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions.
The new products, which are part of the end-to-end Visa Protect suite, are designed to reduce fraud across immediate account-to-account and card not present (CNP) payments, as well as transactions both on and off Visa’s network.
Visa Protect is part of a broad suite of Visa value-added services that have grown to nearly 200 products, spanning five high-demand categories: Acceptance, Advisory, Issuing, Open Banking and Protect. To help clients navigate a growing number of complexities, Visa has
combined decades of expertise and significant investments in both Artificial Intelligence (AI) and fraud prevention, with $10 billion over the last five years alone in technology and innovation, to help reduce fraud and increase network security.
Giving details of the expansion plan, Global Head of ValueAdded Services at Visa, Antony Cahill, said: “Digital payments go far beyond completing a sale – we are entering an era of modern commerce where winners move fast, AI is, essential, experiences are flexible and security is native.
“Businesses are looking for partners that can enable their ambitions to compete and win and we’re proud to be the trusted partner, helping a growing number of clients do exactly that in today’s highly competitive environment.”
Last year, Visa helped block $40 billion in fraudulent activity, nearly double from the previous year. The new expansion plan focuses on three Visa Protect solutions that are intended to address client needs and utilise the company’s deep expertise in AI.
SVP, Head of Advisory and Value-Added Services, Central, Middle East and Africa (CEMEA), Walter Lironi, said: “In today’s digital-first society, Visa remains focused on enabling an advanced suite of risk and fraud solutions to ensure consumer data is protected wherever transactions take place. The three new AIpowered solutions are built on Visa’s unmatched technology, innovation, and 30-year heritage in AI, as well as our expert risk advisory and managed services practice.
Stanbic IBTC Bank Wins Big at 2024 Euromoney Awards
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has once again solidified its position as a leader in the banking sector by clinching two coveted awards at the 2024 Euromoney Global Private Banking Awards.
The bank emerged as “Nigeria’s Best International Private Bank” and “Nigeria’s Best for Digital Solutions,” reaffirming its unparalleled expertise and commitment to delivering innovative financial solutions
in Africa’s dynamic financial landscape.
The Euromoney Global Private Banking Awards, renowned as the foremost awards programme in the global private banking and wealth management industry, celebrates excellence in private banking services worldwide. These awards recognize institutions that demonstrate exceptional performance in providing clients with superior
advice, service, and solutions.
Expressing his delight at the recognition, Chief Executive of Stanbic IBTC Bank, Mr. Wole Adeniyi, remarked, “We are thrilled to receive these prestigious awards, which underscore our team’s unwavering dedication and capability. This achievement is a testament to our commitment to meeting global best practices while continuously raising the bar in the banking industry.”
Moniepoint Redefines Payments with Flexible Options
Moniepoint, a leading Fintech company has said beyond redefining payments and technology in the payment industry, it is also providing businesses and partners with several flexible payment options that will enable them receive payments from their customers.
Moniepoint started with a virtual account service that automated payment
or transfer and allowed customers and businesses to make and receive payment seamlessly through transfers.
Speaking during a lead presentation at the inaugural edition of Payments Forum Nigeria (PAFON 1.0) held last week at Oriental Hotel, Lagos, Chief Compliance Officer at Moniepoint, Ikenna Ndugbu, said Monnify, its payment platform, would
L-R: Chief Operating Officer, Funds Manager Association of Nigeria (FMAN), Oludare MosesAdenekan; Sub-Dean, Faculty of Management Studies, Dr. Yusuf Aina Soyebo; winners of the quiz competition and Head, FMAN Technical and Enlightenment Committee, Fadekemi Obasanya during the Global Money Week held at Lagos State University… recently
offer a wide variety of payment options to businesses.
Ndugbu who was epresented by the Regional Sales Manager, Moniepoint, Isoken Aigbomian, said: “There is the online payment platform, there’s the in-person payment option, and then there is the cash payment via our agent network, which I think Moniepoint has the largest agent network.
BUSINESS/ MONEYGUIDE
MONEY AND CREDIT STATISTICS (MILLION NAIRA) FEBRUARY Money Supply (M3) 95,557,263.40 -- CBN Bills Held by Money Holding Sectors 1,588,771.44 Money Supply (M2) 93,968,491.96 -- Quasi Money 63,691,242.70 -- Narrow Money (M1) 30,277,249.26 ---- Currency Outside Banks 3,411,735.44 ---- Demand Deposits 26,865,513.82 Net Foreign Assets (NFA) 7,408,009.72 Net Domestic Assets(NDA) 88,149,253.67 -- Net Domestic Credit (NDC) 114,788,867.95 ---- Credit to Government (Net) 33,925,848.79 ---- Memo: Credit to Govt. (Net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 80,863,019.16 --Other Assets Net 13,319,068.99 Reserve Money (Base Money 21,230,656.70 --Currency in Circulation 3,693,573.23 --Banks Reserves 17,537,083.47 --Special Intervention Reserves 433,229.15 Money Market Indicators (in Percentage) MonthFebruary Inter-Bank Call Rate 19.25 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 22.75 Treasury Bill Rate 17.03 Savings Deposit Rate 5.86 1 Month Deposit Rate 8.69 3 Months Deposit Rate 9.89 6 Months Deposit Rate 9.61 12 Months Deposit Rate 10.75 Prime Lending rate 15.06 Maximum Lending Rate 26.55 The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) OPEC DAILY BASKET PRICE AS AT 4TH APRIL , 2024 32 FRIDAY, APRIL 5, 2024 THISDAY
MARKET INDICATORS
Emma Okonji
Nigerian Breweries to Raise N600 billion via Rights Issue
Kayode Tokede
Nigerian Breweries Plc (NB), yas announced that it will seek shareholders’ approval to raise N600 billion capital by way of rights Issue.
The Company Secretary, Uaboi Agbebaku in a signed statement on the Nigerian Exchange Limited (NGX) stated that the board resolved to recommend to shareholders at the next An-
nual General Meeting (AGM), the raising of up to N600 billion capital by way of Rights Issue, subject to regulatory approvals.
According to him, the multinational company wanted to raise fresh capital on the backdrop of naira devaluation by the Central Bank of Nigeria (CBN) and the high cost of funds on the Company’s capital structure, especially on the Company’s debts.
Nigeria Breweries in its 2023
result and accounts marked its worst performance in over 10 years, attributable to the unification of the naira and hike in costs of production influenced by doubledigit inflation rate.
Nigerian Breweries recorded a loss before tax of N145.22 billion in 2023 from N17.34billion profit before tax in 2022, and it declared N106.31billion loss in 2023 from N13.19billion profit after tax reported in 2022.
He disclosed that the proceeds from the Rights Issue will help to reduce the huge debt burden arising thereby leading to a healthier balance sheet.
“Coupled with ongoing cost savings and other operational efficiency efforts, the Board is optimistic about steering the Company back to the path of sustainable profitability in the near future. “The Board also resolved to recommend to shareholders
at the AGM scheduled for the 26th of April 2024, the increase in the Company’s share capital to take care of the new shares to be allotted under the Rights Issue,” he said.
The multinational brewery marker reported slow revenue growth amid weak purchasing power as other financial parameters such as cost of sales, operating expenses, and foreign exchange losses impacted the
Group’s overall performance in the year under review. The company hits the highest revenue in 2023 financial year, driven by strong pricing in some of its products. Nigerian Breweries reported N599.64billion revenue in 2023, representing an increase of nine per cent from N550.64billion in 2022. In the prior year, the group reported 26 per cent increase in revenue from N437.29billion in 2021.
PRICES FOR SECURITIES TRADED ASOF APRIL 4 /24
MAIN BOARDDEALS MARKET PRICE QUANTITY TRADED VALUE TRADED ( N
MAIN BOARDDEALS MARKET PRICE QUANTITY TRADED VALUE TRADED ( N )
MARKET NEWS 33 FRIDAY, APRIL 5, 2024 THISDAY
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ANNOUNCING THE FORTHCOMING GTA CONFERENCE...
L-R: CEO YD Company, Dr Yetty Ogunnubi; President of Ascend Studios Foundation and Implementing Partner of Global Tech Africa (GTA),
Spain's Decision to Recognise Palestinian State Marks Potential Turning Point for Europe
Bayo Akinloye
Spain’s announcement this week that it will recognize a Palestinian sovereign state by July could mark a major turning point with other European states
poised to follow Madrid’s lead, analysts say.
Socialist Prime Minister Pedro Sanchez told Spanish media Tuesday Spain would recognize Palestine diplomatically by July. On Wednesday, Foreign
Navy Uncovers Illegal Refining Sites with Capacity of 9.6m Litres of Diesel Arrests 14 suspects
The Nigerian Navy Ship (NNS) PATHFINDER has uncovered 16 illegal refining sites with a refining capacity of 9.6 million litres of Automotive Gas Oil (AGO) popularly known as 'diesel' in a creek in Rivers State. The operatives of the NNS Pathfinder led by its Commander, Commodore Desmond Igbo, during an operation at the creek around Elem-Krakama in Degema Local Government Area, also arrested 14 suspects, recovered over 1.5 million litres of diesel already refined at one of the illegal sites in the area.
THISDAY at the illegal refining sites, observed that three wooden boats with a storage capacity of 70 metric tones of crude oil worth 210 metric tones still siphoning crude from a tapped oil wellhead owned by the Nigerian National Petroleum Company Limited (NNPC) were also arrested by the Navy.
It was further observed that the activities of the suspects at the oilfield wells owned by the NNPC had polluted the environment, as crude oil illegally exploited from the wells by the suspects littered on the rivers, destroying the mangroves and other living plants in the area.
Speaking with journalists at the incident sites, Commander of NNS Pathfinder, Commodore Desmond Igbo, identified the oilfield as Oil Mining Lease(OML) 18, owned by NNPC, saying that the wellhead badly compromised by the suspected oil thieves was well 15 in the same oil field.
Igbo, who expressed shock at the wide-scale economic sabotage going on in the location, said the site has 16 cooking pots with the capacity to contain 600,000 litres of diesel each, assuring that the Navy will not relent
in ensuring that illegal oil refining activities become a thing of the past.
Igbo said: "This is Elem-Krakama in Degema LGA of Rivers State, we have come here to ensure that this oil stealing will not continue. We have about 16 cooking pots and some of them contain about 600,000 litres. It is very quite huge, as you can see where they are tapping it right from the oil wellhead belonging to NNPC.
"We have made arrests, we arrested about 14 of them in the act of stealing the crude and also illegally refining this crude. Behind me is oil well head 15 belonging to OML 18, of NNPC. You can see a very big 14-inch hose connected illegally to this oil well head 15. They are transferring it to this big wooden boat also known as the Cotonou boat.
"The boats contain 70 metric tons of crude oil, the crude is still there, they will connect it to the reservoirs through the four-inch hose from there they will start cooking it. We have three of these wooden boats in this camp. The cooking pots also contain about 1.5 million AGO. This is not good for our country, not good for the economy."
Igbo said the success of the operation was in furtherance of the Chief of Naval Staff, Vice Admiral, Emmanuel Ogalla's mandate to them to fish out the economic saboteurs and not to deter in ensuring that oil theft in Niger Delta become history, adding that they will continue to stamp out oil theft in the region.
He, however, revealed that both the arrested suspects and seized crude would be handed over to appropriate agencies for prosecution, saying his personnel would dismantle the illegal connection, just as he noted that the attention of the owners of the oil field has been drawn to clampdown the spilling wellhead.
Minister Jose Manuel Albares confirmed the plan, saying it would help an independent Palestine’s entry into the United Nations.
Ignacio Molina, a specialist on Spanish foreign affairs at
the Real Elcano Institute, a Madrid research group, said both domestic political and foreign policy reasons had led Spain to say it would recognize Palestinian sovereignty.
The catalyst was the attack
on the World Central Kitchen convoy Tuesday by Israeli forces in which seven aid workers were killed, sparking outrage in Spain.
Prime Minister Sanchez
Wednesday branded as “insufficient” and “unacceptable”
the response from Israeli counterpart Benjamin Netanyahu, who said Israeli forces had “unintentionally” killed the aid workers. The NGO that employed them is run by Spanish-American celebrity chef José Andrés.
Ondo 2024 Guber: I’m Contesting Because Our People Asked Me to, Says Aiyedatiwa
Tinubu didn't anoint anyone, says Ibrahim Oke is APC’s best bet, Enikuomehin declares Party warns gladiators against divisive utterances
Segun James in Lagos, Adedayo Akinwale in Abuja and Fidelis David in Akure
Ondo State Governor, Lucky Aiyedatiwa, has said he decided to throw his hat in the ring following the call from the people of the state for him to continue.
He stated this while addressing newsmen at the national secretariat of the party in Abuja after submitting his forms.
When asked about his fears, he noted that there was nothing to fear, as he was contesting due to the call from the people of the state. The governor said he had cleared all the backlog of salaries of civil servants and also recruited 2,000 teachers in the state.
But a frontline governorship aspirant, Senator Jimoh Ibrahim, has said contrary to speculation making the round that President Bola Tinubu did not anoint any of the aspirants contesting for the All Progressives Congress (APC)tickts.
Ibrahim disclosed this yesterday
in Abuja after submitting his nomination and expression of interest forms at the party secretariat.
He noted that he was the most qualified candidate for the coveted position, adding that he has nine certificate from nine different universities and none of the certificate was missing.
The lawmaker also stressed that he had no agreement with Olusola Oke to step down his governorship ambition.
"The presidency did not endorse anybody. How can you endorse somebody? Politics is about democracy, democracy is about numbers. Somebody sitting down to endorse you is military. It can't be possible.
“You can never get into this office by endorsement. Was Asiwaju endorsed by Buhari? When we did the primary...at the end of the day, Asiwaju won the election without any endorsement from anybody," Ibrahim stated.
Asked if he was threatened by Aiyedatiwa, he said the governor
was not a threat to him.
Also, a chief of the party, Dr Benson Enikuomehin, has asked the party leadership to give their backing to Dr Olusola Oke as its flag bearer, because he was their best bet.
Enikuomehin stated this in Lagos while assessing the quality of candidate for the lection.
His appeal came on the heels of the APC’s resolve to embrace direct method of voting for its governorship candidate in the state for April 20.
Enikuomehin argued that though incumbent governor, Aiyedatiwa and other aspirant were eminently qualified to contest, he stated that out of all the aspirants, Oke would grant APC an easy inroad to the seat of power.
He stated that Ilaje local government qualified Ondo State as oil producing state, adding that even with that, there would be need to go for persuasion and moral adjuration to win the support of other people.
Meanwhile, a group in the APC in the state has warned political supporters of aspirants against divisive utterances and actions, ahead of the party primary slated for April 20.
A statement by the Publicity Secretary of the party, Alex Kalejaye, which quoted the State Chairman, Ade Adetimehin, described as unnecessary the idea of some people constituting themselves into "the aborigines of APC" of the State chapter.
The party contended that the unity of the party was erected on the pillars of equal opportunities, irrespective of whatever considerations.
"The chapter would not condone acts that are aimed at making some members inferior to others, on account of when they joined the party. The chapter is for all, and would continue to encourage equal opportunities for all the members. New members should entertain no fears in this regards," Adetimehin assured.
Fubara Shopping for Injunction to Declare Rivers Assembly Illegal, APC Chief Alleges
Blessing Ibunge in Port Harcourt
The Rivers State chapter of the All Progressives Congress (APC), has raised the alarm that Governor Siminalayi Fubara was seeking to procure injunction from yet to be identified court to stop members of the State House of Assembly led by Martin Amaewhule, from performing their constitutional functions and to declare all their actions illegal.
Caretaker Chairman of the APC in Rivers State, Chief Tony Okocha, who stated this yesterday, at a press conference, in Port Harcourt, said the alleged plot was in connivance with some judges in the state. He threatened to petition the judges to the National Judicial Council (NJC), while vowing that his party would sternly resist such actions. Okocha alleged that the purported plan by the state governor is inimical to democratic tenets, adding that his party will move to protect the 27 lawmakers of the House who are members of his party.
"I want to use this medium to inform Rivers people and Nigerians of the move by the Rivers State Governor, Sir Siminalayi Fubara to procure interim orders from judges I may not name here but will name them in my petition to the NJC.
“He wants to secure interim orders to stop the implementation of laws he was vetoed. He wants to procure orders to announce as illegal, the Rivers State House of Assembly as constituted and as led by Rt.
"He's now doing that so that he would leverage on that order to appoint caretaker committees for local governments against the warning of the man that he says he respects (Mr President).
34 THISDAY • FRIDAY, APRIL 5, 2024
NEWS
Dr Inya Lawal; Director General NITDA, Kashifu Inuwa Abdullahi and Co-Founder, One Africa, Dr. Olori Boye-Ajayi during a press briefing to announce the forthcoming GTA Conference with the theme, “Global Collaborations, Local Transformations”, scheduled for April 24th to 26th at the Landmark Event Centre, Victoria Island, Lagos ... recently
Blessing Ibunge in Port Harcourt
HANDING OVER BLOCK OF CLASSROOMS...
L-R: Corporate Affairs Manager, North, Nigerian Breweries Plc, Mr. Kabiru Kassim; Winner, 2022 Maltina Teacher of the Year Competition, Mr. Alaku Ayiwulu; Commissioner for Higher Education, Plateau State, Dr. Kachollom Gan; Corporate Affairs Director, NB Plc, Mrs. Sade Morgan; Representative, Commissioner for Secondary Education, Plateau State, Mrs. Julia Mangai and Director/Principal, Federal Government College, Jos, Mr. West Obomate Dulphine during the handing over ceremony of a block of classrooms and e-learning centre to Federal Government College, Jos in honour of the winner of the 2022 Maltina Teacher of the Year Competition held in Plateau.... recently
Oba of Benin, Ikimi Reflect on Their Days in Foreign Service
Adibe Emenyonu in Benin City
Omo N' Oba N' Edo, Uku Akpolokpolor, Ewuare II, CFR, Oba of Benin, and former Foreign
Affairs Minister, Chief Tom Ikimi, yesterday reflected on their days in the foreign service of Nigeria as diplomats when the late Ambassador Mbu was the
Wike is Mastermind of Outright Falsehood, Transactional Politician, Secondus Declares
Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt
A former National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, has said the Minister of the FCT, Nyesom Wike, has a "well-known trait" of being economical with the truth and dishing out half-truths.
This was as the Rivers State Governor, Mr Siminalayi Fubara, and the leadership of the Peoples Democratic Party (PDP), have declared as fake, the purported list of party caretaker committee members for the state, circulating on social media.
In a statement, yesterday, Secondus, who described the FCT minister as 'a showman noted for double-speaking' condemned Wike for criticising "revered political leaders" in Rivers State, saying the minister was “Nigeria’s most transactional politician.”
Wike and his successor, Fubara, had been embroiled in a crisis over the control of political structures in Rivers State.
Last week, Secondus, Abiye Sekibo, director-general (DG) of the party’s presidential campaign council in Rivers; Celestine Omehia, a former governorship aspirant; and Austin Opara, an ex-lawmaker, declared support for Fubara and called on President Bola Tinubu to caution Wike.
But reacting to the development, Wike described them all as “expired politicians” who were not worthy of being called “elder statesmen.”
However, in serving his salvo, Secondus through his media adviser, Ike Abonyi, said Wike’s performance at the media engagement was an exhibition of “his well-known trait of being economical with the truth, harbinger of half-truths and a mastermind of outright falsehoods just to hoodwink unsuspecting members of the public to believe his brew by playing to the gallery and drawing some unwarranted applause and attention.”
Secondus further described the FCT minister as “a showman noted
for his double-speak, twisting of facts to score some cheap political points, and someone who stands the truth on its head.
"Wike’s utterances during the Abuja parley as “appalling and rather unfortunate, more so (when) he characterised our revered political leaders of Rivers State, casting them in a bad light by referring to them as transactional politicians, political vampires, and political buccaneers.”
Meanwhile, Fubara and the PDP had declared as fake, the purported list of party caretaker committee members for the state, circulating on social media.
Speaking during the flag-off of the Port Harcourt International Automobile Spare Parts Trading and Commercial Centre project, yesterday, in Port Harcourt, Fubara said the list was the handiwork of cheap publicity seekers and agents of crisis.
He said the imagination of the detractors would not stand, explaining that the national leadership of the party had met recently and agreed that in states where the tenure of PDP Executives had expired should continue to maintain the officers as caretakers for the next three months.
Fubara clarified that the decision which awaited ratification by the National Executive Council (NEC), did not approve that new names should be added to the already existing number of officers, or any subsisting officer(s) removed.
"I know that a lot of you saw something flying in the social media, dailies. Let me brief you. We hard a meeting, and we agreed that, not just in Rivers State, but in all the States affected, that the Executive Councils (of PDP) should be extended for three months.
"This extension is not meant to bring in new names. The extension also did not say that you are working without the authority of the Governor. So, for those lists that you saw and those ones altered, I can assure you that they are not going to stand."
Doyen of Nigeria's Diplomatic Mission to the Scandinavian.
This reminiscing occurred when both met at the Oba's Palace in Benin City. Addressing the Benin throne, Ikimi, showered encomium on Oba Ewuare II for his outstanding contributions that helped to shape Nigeria and solicited for prayers having attained a significant milestone in life.
The former external Affairs Minister congratulated the Oba
on his forthcoming investiture as Chancellor, National Open University of Nigeria (NOUN) in Abuja.
"Your Majesty, you are one of the leaders in this world that I appreciate. I respect our tradition and I have come to congratulate you for what you have done in building the revered Kingdom of Benin. You have shown respect and everyone respects the Benin Kingdom under your leadership.
"I congratulate you for the
effort you made when I was foreign Minister in accepting to be our Ambassador in the Scandinavian where you put in your best," Ikimi said.
Welcoming his guest, Chief Tom Ikimi, on behalf of his Chiefs and the Royal family, Ewuare II, recalled when they were posted as Vanguard, Diplomatic warriors in Foreign Mission. The traditional ruler, who went down memory lane on their service in foreign lands,
noted that it was indeed tough when Nigeria was tagged a 'pariah state', which international Community was not pleased with.
"We had to do a lot of work to launder the image of the country. I want to say thank you for your support during that period. My posting at that time was like a training ground for me. So, I had all the support at that time because you were in office," Oba Ewuare II enthused.
Edo Impeachment: Panel Fixes Today for Final Adjournment, Shaibu, Counsel Absent
Adibe Emenyonu in Benin City
The seven-man panel set up by the Edo State Chief Judge (CJ), Justice Daniel Okungbowa, to investigate the allegation of perjury and leaking of government officials secrets levelled against the Deputy Governor of the state, Philip Shaibu, yesterday fixed today, Friday, April 5, for final adjournment to defend himself.
The panel arrived at the decision when it resumed its sitting yesterday but the deputy governor and his counsel were absent.
The chairman of the panel, Justice Stephen A Omonua (Rtd), said the panel would wait to see if the defendant would open his
defence and thereafter called for the defendant
When it became apparent that the defendant, Shaibu, was absent and was not represented, Justice Omonua called for appearance for the plaintiff, the Edo State House of Assembly, which initiated the impeachment process.
N.U. Ibrahim, Legal Officer, Edo State House of Assembly, announced his appearance for the Assembly with two others.
The chairman then ruled that the panel would still adjourn to give the defendant the ample opportunity to appear before it to present his defense. "This panel is adjourned for the last time to April 5, 2024 for the
last time, at 12 noon, to allow the defendant to present his defense," Justice Omonuwa ruled.
At the inaugural sitting of the panel on Wednesday, Shaibu's counsel, Professor Oladoyin Awoyale (SAN), took the leave of the panel to excuse himself and the defendant from continuing with the pane's proceedings.
Awoyale hinged his stance on his submission that all parties in the matter ought to obey the order of an Abuja Federal High Court which asked the parties to appear before it to show cause why it should or should not grant the enforcement of fundamental human rights prayer Shaibu tabled before the court.
While Awoyale (SAN) admitted his error before the panel that there was no injunction by the Abuja court restraining the panel as he had erroneously told the panel, he maintained that since the court had asked all the parties to come before it on Monday, April 8, 2024, the panel ought to obey that call.
But as the panel overruled his submission and upheld the argument of the counsel to the House of Assembly, Joe Ohiafi, that the continuation of the Federal Republic of Nigeria, as amended, foreclosed any court form stopping tue Assembly and the panel from carry out it's constitutional responsibilities, the senior lawyer took his leave of the panel.
NERC: ELECTRICITY TARIFF INCREASE WOULD REDUCE GRID COLLAPSES, ENHANCE SUPPLY
than 09:00 am of the next day.”
The order stated that where the Disco failed to deliver on the committed level of service on a Band A feeder for two consecutive days, the Disco shall on the next day by 10am publish on its website an explanation of the reasons for the failure and update the affected customers on the timeline for restoration of service to the committed service level.
It stated, “Where the Disco fails to meet the committed service level to a Band A feeder for seven consecutive days, the feeder shall be automatically downgraded to the recorded level of supply in accordance with applicable framework.
“The Disco is mandated to continuously ensure upward migration of customers from the lower service bands to Band A service level in line with the target on improvement in quality of service.”
However, Socio-Economic Rights and Accountability Project (SERAP) said it was suing the government of President Bola Tinubu over the “arbitrary” increase in electricity tariff.
SERAP, in a post via its official X account, asked the Tinubu government to reverse the “unlawful” tariff increase.
The rights group urged the president to reverse the increase pending the hearing of the suit it instituted against the increase. SERAP stated, “We’re suing the Tinubu administration over the arbitrary increase in electricity tariff from N66 to N225, despite the difficult economic realities in the country, and the pending lawsuit on the matter.
“The Tinubu administration must reverse the apparently unlawful increase in electricity tariff from N66 to N225 pending the hearing and determination of the suit we filed on the matter, to protect the
integrity of the judicial process and the rule of law.”
The Senate also pledged to take action that will favour Nigerians regarding the increase in electricity tariff on its resumption plenary on April 16.
Chairman, Senate Committee on Media and Public Affairs, Yemi Adaramodu, gave the assurance while speaking with journalists in Abuja.
According to NERC, Band A customers are those who enjoy 20 hours of electricity supply daily. It was also revealed that customers under this classification represented 15 per cent of the 12 million electricity customers in Nigeria.
The NERC vice chairman clarified that the review would not affect customers on the other bands.
However, the senate spokesperson said relevant committees of the upper chamber were watching the situation and would take a position favourable to Nigerians
on its resumption. Adaramodu said, "The relevant senate committees on power are studying the situation. You know we are on recess now. When we resume, they will present their findings to Senate at plenary. We won't abandon Nigerians."
He maintained that the senate would not show indifference to any policy that would add to the economic burden of Nigerians.
The senate had earlier rejected pronouncement by the Federal Ministry of Power to approve the proposed hikes in electricity tariff by distribution companies.
The senate also rejected plans to remove electricity subsidy, given the present hardship in the country.
The red chamber consequently directed its Committee on Power to investigate the over N2 trillion required for electricity subsidy payment, other debts owed in the sector, and the state of metering in the country.
NEWS
35 THISDAY • FRIDAY, APRIL 5, 2024
2024 HREXPO AFRICA FESTIVAL...
L-R: Co-convener, 2024 HRExpo Africa, Taiwo Dayo-Abatan; Convener,
for
United States CDC Empowers 734,000 People Living with HIV in Nigeria
Onyebuchi Ezigbo in Abuja
The United States Centre for Disease Control and Prevention has said that no fewer than 734,000 people living with HIV have benefitted from its Orphans and Vulnerable Children (OVC) interventions programme across 19 states of Nigeria.
The OVC Programme Specialist, CDC Nigeria, Dr Femi Oke, who stated this in his presentation at a CDC Nigeria Roundtable Media yesterday in Abuja, explained that the US CDC Orphans and Vulnerable Children Programme delivers childfocused, family-centred interventions that seek to improve the overall wellbeing of the vulnerable children and their families
He also said that the programme sought to mitigate the impact of HIV on children and families by discouraging stigmatisation of the affected persons.
According to him: "Almost 734,000 people living with or affected by HIV have benefitted from our Orphans and Vulnerable Children interventions across 19 states in Nigeria."
"The programme utilises a case management approach which involves working in partnership with children and families to identify their needs, plan, and complete a series of actions with the orphans, vulnerable children, and their caregivers to achieve specific household goals." He said.
Oke said the household economic strengthening is a portfolio of interventions delivered to reduce the economic vulnerability of families and empower them to provide for the essential needs of the children they care for, rather than relying on external assistance
"Financial literacy training helps vulnerable households understand money management and income generation as vulnerable households are now able to meet household emergency needs and take care of their children without depending on external assistance.
"Village savings and loans association groups diversified into other local businesses and some of them are now fully registered as Cooperative and Thrift Society," He added.
Also, the US-CDC Branch Chief of the Continuum of Care and Treatment, Dr. Denis Onotu, said the OVC programme is one of the HIV/AIDS programmes funded by US government under the
Presidents’ Emergency Fund for AIDS Relief (PEPFAR) in support of the government of Nigeria to mitigate the scourge of HIV/AIDS on vulnerable household. He also maintained that the OVC
programme has been very efficient and impactful targeting the most vulnerable beneficiaries, children and women.
"Though a largely community focused program, the OVC
programme has been able to unite, sustain and bring hope to thousands of families affected by HIV and AIDS."
He also reiterated USCDC commitment to continue to work
with deserving communities, through implementing partners and community based organizations to provide services that will improve the wellbeing and longevity of their clients and keep them resilient .
One of the beneficiaries of the OVC programme, Mrs Esther Terna, expressed her appreciation to the organisation for introducing the Village Savings and Loans Association.
Alleged Money Laundering: EFCC to Arraign Bobrisky on 6-Count Charge Today
Kingsley Nwezeh in Abuja and Wale Igbintade in Lagos
Barring any last-minute change of plans, the Economic and Financial Crimes Commission (EFCC) will today (Friday) arraign Idris Olanrewaju Okuneye popularly known as Bobrisky before a Federal High Court in Lagos over alleged money laundering.
Already, the anti-graft agency had on Thursday filed a six-count charge against Bobrisky and will be arraigned before Justice Abimbola Awogboro.
The first four counts of the charge border on abuse of the Naira, while the last two counts bordered on alleged money laundering.
In the charge sheet marked FHC/L/244c/2024 filed by EFCC Prosecutor, Rotimi Oyedepo (SAN),
Bobrisky in the first count is alleged to have tampered with the sum of N400,000 by spraying same while dancing at a social event at the IMAX Circle Mall, Lekki, Lagos.
The offence was committed on March 24, 2024, and is contrary to and punishable under Section 21(1) of the Central Bank Act 2007.
In count two, Bobrisky was said to have between July and August 2023 at Aja Junction, Ikorodu also tampered with another sum of N50,000 by spraying the same at a social event while dancing.
In count three, Bobrisky in December 2023 at White Steve Event Hall, Ikeja allegedly sprayed and tampered with another sum of N20,000 while dancing.
Count four also accused Bobrisky
of spraying and tampering with another sum of N20,000 while dancing at another event in Oniru, Victoria Island.
In count five, Bobrisky while trading under the name and style of Bob Express between September 1, 2021, and April 4, 2024, in Lagos, failed to submit to the Special Control Unit Against Money Laundering, a declaration of the activities of the said company, (Bob Express), within which period the total sum of N127.7 million was paid into the company account domiciled with Ecobank.
Also, in count six, Bobrisky is also accused of failing to submit a declaration of the activities of the company within the same period when another N5 million was paid
into the company’s account, thereby committing an offence contrary to Section 6(1)(a), and Section 19(1) (f) of the Money Laundering (Prevention And Prohibition) Act and punishable under Section 19 (2) (b) of the same Act.
Meanwhile, earlier, the EFCC confirmed that Bobrisky failed to meet the administrative bail conditions granted him by the commission.
The spokesperson of the EFCC, Dele Oyewale, confirmed the report of his bail and failure to meet bail conditions.
“He has been granted administrative bail but yet to meet bail conditions", he asserted.
The commission had, in an earlier statement said operatives of its Lagos zonal command commenced
investigation of Bobrisky, for allegedly spraying naira notes. It said the anti-graft agency had invited the 31-year-old following a video report of spraying and flaunting wads of new naira notes at the premiere of a movie, Ajakaju, produced by Eniola Ajao, a Nollywood actress and producer, at Film One Circle Mall, Lekki, Lagos on March 24, 2024.
"Investigation also revealed that he had also committed the alleged offence at some other event centres and parties at different times", it said.
Following the invitation by the commission, he arrived at the Lagos Zonal Command of the EFCC in the morning of Wednesday, April 4, 2024 for interrogation and volunteered his statements.
TINUBU TO CORPORATE NIGERIA: I’VE NO EXCUSES TO UNDERPERFORM, I CAMPAIGNED FOR THE JOB
in the bush, and that is all I have been focused on.
“It is your effort, resourcefulness, and dedication that has brought us here. The results will not come suddenly, you have endured the campaign, you must endure more.
“I assure you that a very bright light beckons for you and your children. Nigeria will prosper, and we will all reap the benefits. We will work with determination and persistence.”
While urging citizens to continue to have faith in Nigeria by supporting his administration to succeed for the benefit of all, the president noted that, "Europe and America did not get to where they are today in one day, but through persistence and hard work, which takes time and consistent focus.
“Pray for Nigeria, think Nigeria. This is not play time. Let us believe in ourselves. We must ask questions. What is happening to our solid minerals? No rival wants you to be bigger than them. We must be dogged. We have to sort out our
problem ourselves,” the President said.
Earlier, Vice-President Kashim Shettima, Senate President Godswill Akpabio, Director-General of the defunct PCC, Senator Simon Lalong, and the Director-General of the defunct ICC, thanked the supporters for their perseverance, assuring them that the president had not forgotten all their efforts and would not disappoint them.
Meanwhile, Shettima has said innovation was essential to attaining Nigeria’s dream of becoming one of the top countries in the world. He urged Nigerians to bring up innovative ideas and actions to advance the ongoing transformation agenda in the country.
Speaking at the third i-FAIR cohorts graduation ceremony of the nine-month mentorship programme for budding innovators and entrepreneurs yesterday in Abuja, he implored Nigerians to support the Israel-Nigeria Innovation Fellowship for Aspiring Inventors and Researchers (i-FAIR) initiative to
advance the transformation agenda in the country.
Shettima, who was represented by the Special Adviser to the President on Economic Affairs in the Office of the Vice-President, Mr Tope Fasua, commended the graduands for boosting the Nigerian population efforts to achieve the transformation agenda of the federal government.
“We live in a kinetically dynamic and digital world, where we are seeing today’s reality and tomorrow’s innovation by power of technology, Artificial Intelligence (AI), machine learning, internet and others.
“We commend the Innov8Hub for what it has been doing so far amongst our youth and the innovative at heart. We have seen numerous innovative display, many of which have been commercialised and are having impact on Nigeria and beyond.
“We believe this is merely the beginning, I appeal to all and sundry to show maximal support to the idea behind the hub, as it is indeed
transformative. Our very survival in a fast paced world depends on it.”
The Ambassador of Israel to Nigeria, Michael Freeman, said the programme comprised twelve components spanning health, climate change, and agriculture, and embodies the spirit of innovation and resilience.
“I-FAIR was established by the Israeli embassy in collaboration with the Nigerian government; this initiative epitomises the collaboration and innovation pivotal to the IsraelNigeria relationship.
“President Bola Tinubu’s Renewed Hope agenda resonates deeply with the ethos of the i-FAIR programme in championing empowerment, growth, and prosperity for Nigeria.
“This is with a focus on nurturing the talents of our youth, this programme aligns seamlessly with President Tinubu’s vision of propelling Nigeria towards excellence, notably in digital economy where job creation is paramount.”
Minister of Foreign Affairs,
Ambassador Yusuf Tuggar, represented by Ambassador Bolaji Akinremi, Director, Economic, Trade and Investment at the ministry, traced the success of the programme to the partnership between Israel and Nigeria.
“This is evidence of innovation. We have no doubt this government and the administration standout as the most innovative government Nigeria ever had.
“It is pertinent to mention that the idea of I-FAIR is predicated on the need to overcome domestic challenges with innovative made in-Nigeria solutions tailored around inspiring Nigeria to become a startup nation,” Tuggar said.
Minister of Communication, Innovation and Digital Economy, Dr Bosun Tijani, said it was important to prioritise transformation agenda to achieve meaningful growth.
“We must prioritise the complete deployment of fibre active network which Nigeria must achieve in the next two-three years and we have backing of the President,” he said.
NEWS 36 THISDAY • FRIDAY, APRIL 5, 2024
Erefa Coker; Lagos State Commissioner
Commerce & Industry, Folasade Ambrose-Mebedem; Founder, Human Investment Group Africa/ recipient of the 2024 HRExpo Africa Lifetime Achievement Award, Ajibola Ponnle; Deputy Head of Operations, StanbicIBTC, Funke Amobi; HR Coca-Cola, Jumoke Akindolire; and former Group Chief Human Resources Officer – Dangote Group, Usen Udoh, at the 2024 HRExpo Africa Festival in Lagos... recently.
WOMAN OF COURAGE AWARD…
Award recipient and Executive Director of Braveheart Initiative for Youth and Women (BHI), Ms. Priscilla Usiobaifo(left), receiving the ‘Woman of Courage’ award from the acting Deputy Chief of Mission, United States of America’s Embassy in Nigeria, Art Brown, in Abuja...recently
Navy Arrests Eight Suspected Oil Thieves, Vessel with Crude Oil in A’Ibom
Okon Bassey in Uyo
The Nigerian Navy, Forward Operating Base (FOB), Ibaka in Mbo Local Government Area of Akwa Ibom State has arrested eight suspected oil thieves and vessel with 30,000 litres of crude oil in the state.
The Commanding Officer, FOB Ibaka, Capt. Uche Aneke stated this while handing over the suspects, vessel and exhibits to the Economic and Financial Crime Commission (EFCC), in Ibaka. Aneke said the suspects, vessel and products suspected
to be crude oil were arrested on 23rd Feb., at about 3:55p.m.
“The current global market price of 30,000 litres of crude oil is about N3 billion equivalent,” Aneke said.
According to him, the vessel was arrested by NNS Ekulu
Hammed Shittu in Ilorin
through the collaborative efforts of ExxonMobil, which support with necessary intelligence and the Cameroonian Navy, which supported with interception when the vessel tried to escape by crossing International waters through Nigeria’s border with Cameroon.
“As at the time of arrest, the vessel had a total of 8 crew members (all Nigerians). The vessel was discovered to have four Geepee tanks loaded with products suspected to be crude oil and in various
compartments,” Aneke stated. Aneke warned individuals or groups interested in planning to carry out any form of criminality in Nigerian waters or smuggling illegal consignments into or out of Nigeria, to desist forthwith.
Kwara Not Behind Ex-Gov. Ahmed’s Trial, Says Commissioner UBA Unveils Customers’ Complaints Resolution Portal
Africa’s global bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response (QR) solution code, qrdispute.ubagroup.com:8088.
Called the ‘Scan to Resolve Complaint’ Portal with code, it is aimed at enhancing satisfaction and swiftly addressing customers’ disputes.
The first of its kind innovative platform marks another significant step by the bank to revolutionise customer service and streamline complaint resolution processes.
The is a QR-code-based portal was conceptualised by the bank to proffer timely solution to customers’-
challenges, without them having to visit the bank or branch.
With the portal, a variety of concerns including challenges around failed transactions will be quickly resolved from the comfort of their homes and business places.
Head, Digital Banking,UBA, Olukayode Olubiyi, who spoke on the workings and benefits of the ‘Scan and Resolve Complaint’ portal explained that with the platform, difficulties with transactions on web, Point of sale machines (PoS) and Automated Teller Machines will immediately get responses and be treated within 72 hours.
‘Promoting Cultural Tourism ‘ll Drive Economic Growth’
YinkaOlatunbosun
The Minister of Tourism, Lola AdeJohn, has declared that promoting cultural tourism will help to drive economic growth in the country.
She disclosed this at the opening of the King Kosoko Memorial Museum on Lagos Island yesterday. The event which was an assemblage of cultural enthusiasts and custodians of history is a significant move by the royal family of King Kosoko to shape the cultural narrative in Lagos.
The minister described the unveiling of the King Kosoko Memorial Museum as a reminder of the rich history that defines Nigeria, particularly Lagos State. She said: “The King Kosoko Memorial Museum preserves and showcases our forebears’ legacies, echoing stories of resilience, creativity, and cultural diversity that shape our identity.
“Museums, beyond artifacts, serve as beacons of enlightenment, fostering understanding and appreciation of our past while guiding our future steps. In a world of globalisation and technological advancement, institutions like this museum projects authenticity, reminding us of our country’s beauty and complexity.”
Cross River Denies Taking Fresh Loans
The Cross River State Governor, Senator Bassey Out, has denied taking or signing any fresh loan, both domestic and foreign, since the inception of his administration on May 29, 2023.
The governor’s reaction followed the worrisome figures presented on the spreadsheet of the Debt Management Office (DMO) and posted on its website.
The same figure from the DMO is what the Punch Newspaper relied upon, analysed, and reported on their Sunday, March 31, 2024 edition.
Governor Otu, who spoke through his Chief Press Secretary, Mr. Nsa Gill, wondered how the DMO arrived at N220.2 billion
as the domestic debt profile of Cross River State as of December 2023, up from N204.04 billion that was posted for the state on June 30, 2023.
“The difference in the figures, subtracting N204 billion from N220.2 billion is the purported N16.2 billion reported as a fresh domestic loan allegedly obtained by Governor Bassey Otu’s administration. ‘This is not true.’
“There is no record in the annals of the state government that suggests that fresh borrowing was undertaken; since the inception of the present administration till date; both domestic and foreign debt.
Kwara State Government has said that it is not behind the current alleged corruption trial of the immediate past governor of the state, Alhaji Abdulfatahi Ahmed. The government, however, said that the burden of governance does not permit any distractions or targeting of anyone, including former public officials.
A statement issued yesterday in Ilorin signed by the State Commissioner for Communications, Mrs. Bola Olukoju, the government
said:”The trial of the former governor is the exclusive prerogative of the antigraft agencies who may have found against him following their own investigations of different transactions involving his administration.”
The statement added: “We find the accusation of the opposition
party as cowardly, baseless, and wrong-headed.
“The right place to prove the innocence of anyone accused of wrongdoing is the court of law, not on the pages of newspapers or through shadow-boxing. They should leave us out of the issue.”
Ekiti Targets Zero Percent Out-of-School Children, Says Gov Oyebanji
GbengaSodeindeinAdoEkiti
Ekiti State Governor, Mr. Biodun Oyebanji, has restated the commitment of his administration to ensure that every child in the state has access to quality and compulsory education, noting that education remains a weapon in ensuring that social, political, and economic growth of any society.
Governor Oyebanji made this known at the 28th convocation ceremony of the Ekiti State University, Ado Ekiti, just as the newly inducted Chancellor of the university, Dr. Tunji Olowolafe, announced a N1 billion agribusiness empowerment fund for products of the institution as a way to boost agriculture and food security.
Oyebanji, who attended the EKSU convocation as the first alumnus of the school to become governor of the state and Visitor to the university, said his government is committed to ensuring that educational institutions in the state are capable of competing with their peers globally.
The governor said his administration has demonstrated
commitment to the development of education sector from primary to tertiary institutions which include renovation of more than 200 secondary schools, distribution of laptops to students across the state, disbursement of bursary and scholarship to students of Ekiti State origin in tertiary institutions of learning.
Residents, Developer Bicker over Telco Mast Installation in Lagos
Kayode Tokede
The residents of Muhammed Buhari Police Estate, Badagry Expressway, Lagos state and estate developer, Remax Realtors have engaged in a war of words over a telecommunication mast being installed inside the estate.
The estate belonging to Nigeria Police Cooperative is managed by Remax Realtors with Mrs Funke Adesoji as the chief executive officer(CEO): The Chairman of the Estate, Mr. Adetarami Adigbe in a chat with THISDAY said, “The residents do not want to be confrontational with nobody since authority of the estate have given approval. However, we are telling them that telecommunication mast is dangerous and deadly to human health.”
He urged those handling the installation to relocate the mast far from residential area for the sake of humanity.
“We are appealing to the developer to relocate the telecommunication mast far away from the residential area,” he said.
The resident recently had a peaceful protest, calling on stakeholders to come to their rescue.
Kogi CP Presents N39.04m to Families of the Deceased Officers
Ibrahim Oyewale in Lokoja
The Kogi State Commissioner of Police, CP. Bethrand Onuoha, has presented cheques worth N39,042,593.07 to the 25 families of deceased officers on behalf of the Inspector General of Police, IGP. Kayode Egbetokun.
Onuoha, while presenting the cheques, disclosed that the gesture was part of the Group Life Assurance and Group Personal Accident Insurance Schemes aimed at improving the welfare of the families of deceased police officers and to also support police officers who became accident victims while carrying out their duty. This is also to encourage other officers in active service to be diligent.
The commissioner further stated that the Nigeria Police Force recognised the sacrifices made by the deceased officers as well as those who are accident victims to secure the nation. He urged the beneficiaries not to misuse the money but make judicious use of it for the betterment of their families.
The beneficiaries appreciated the IGP for the gestures and promised to make use of the money for the benefits of their families.
Only the Living can Enjoy Amenities, Guzape Residents Tell Wike
Alex EnumahinAbuja
Some occupants and property owners in Guzape area of the Federal Capital Territory (FCT) have sent a ‘Save our Soul’ message to the Minister of the FCT, Mr. Nyesom Wike, and relevant government
agencies and ministry over what they described as life-threatening blast of rocks in the area.
The residents lamented that the blast is being carried out by Gilmor Construction Limited against laid down laws and regulations and pending court case.
Addressing journalists in Abuja yesterday, one of the residents of the district and former Deputy Governor of Kogi State, Simon Achuba, who acknowledged that “the purpose of the blasting is for the construction of road for the development of Guzape District,” pointed out that: “It is only
the living that can enjoy amenities.” Achuba, while reminding them that Nigeria is a member of the International Treaty and Conventions on explosive and blast technique, submitted that Glimor alongside its foreign partners ought to have been accustomed with the law.
Three Corps Members to Have Service Extension in Sokoto as 618 Pass Out
Onuminya Innocent in Sokoto
Three corps members have been given extension of service by the National Youth Service Corps (NYSC) for various offences committed during their one-year
mandatory national service in Sokoto State.
The Sokoto State Coordinator of NYSC, Mr. Usman Yakubu Yaro, stated this yesterday during the passing-out of 2023 Batch A Stream I1 corps members in the state.
Yaro said: “Out of the 618 corps members who completed their service year, two won the Sultanate Meritorious Award and three got extension for various offences.”
He commended the corps members for making the scheme
proud in their various places of primary assignment.
“The journey that began 12 months ago has come to an end. I implore you to hold unto the ideals of the NYSC and be good ambassadors of the scheme.
FRIDAY APRIL 5, 2024 THISDAY 37 NEWSXTRA
I
Group Demands Justice for Soldiers Killed in Delta
Activist cautions against politicising probe
Gideon Arinze inEnuguand Sylvester IdowuinWarri
A non-partisan organisation, Nigeria’s Peace and Development Advocates (NPDA) has called on the federal government to ensure that a thorough investigation is carried out to unmask those behind the gruesome killing of 17 soldiers at Okuama, a community in Delta State.
Addressing a news conference in Enugu yesterday, the National Coordinator of the NPDA, Mr. Chukwunonye Okereke, said that anyone found culpable should be made to face the wrath of the law, no matter how highly placed.
“If anyone found culpable is currently enjoying immunity, that such person should be stripped
Similarly, a peace and development advocate, Chief Mulade Sheriff, has urged the federal government to ensure the independent investigation into the killing of 17 military is carried out without political interference at any level.
of his immunity with immediate effect and all his security details withdrawn as the person cannot declare war against the Federal Republic of Nigeria and still enjoys the protection of the Federal Republic of Nigeria”, Okereke said.
While calling for a state of emergency to be declared on any territory that has wittingly or unwittingly taken up arms against the Nigerian state, the group noted that what is going on in Niger Delta is mindless criminality of oil bunkers.
Edo Community Grieves over Missing 200-level Undergraduate
Adibe Emenyonu inBenin-city
The inhabitants of Iru Egbede community in Orhionmwon
Local Government Area of Edo State have expressed grief over the sudden disappearance of their daughter, Faith Omodon, a 200-level undergraduate of Delta State University (DELSU).
Investigation revealed that Miss Omodon was last seen on March 30, 2024, after leaving home for farm.
Narrating the incident, father of the girl, Mr. Edward Omodon, said: “The whole incident happened when we were holding our national conference.
“We usually have Iru national conference at this time of the year. We were seated inside the community hall when we heard loud wailing outside that my daughter was missing.
“She had left for the farm earlier that morning with a motorbike
Thomas Adewumi University Signs MoU with US Varsity in Maryland
Sunday Okobi
History has been made as Bowie State University in Maryland (BSU), United States, and Thomas Adewumi University, Oko, Kwara State (TAU) signed a Memorandum of Understanding (MoU).
The management of the university said this “huge feet is the first step in the landmark collaboration between Bowie State University, Bowie, Maryland, USA and Thomas Adewumi University, Oko Kwara State, Nigeria, in creating a global community for the students and faculties of both institutions.
“The universities will be collaborating in the development of research projects, joint management of grants applications, organisation of joint academic and scientific activities such as course, conferences,
CHANGE OF NAME
and addressed
seminars, symposia or lectures, exchange of research and teaching personnel, exchange programmes for students, exchange of publications and other materials of common interest and pathways for students of TAU to advance in their studies and scholarships by enrolling in Bowie State University graduate programmes.
“This MOU symbolises our commitment to fostering meaningful exchanges, and culture, understanding, and leverage in our collective expertise, to address challenges, facing our community, and the world at large. Through this partnership, we are firm our belief in the transformative power of education, and our shared responsibilities to a harness it for the greater good. All collaboration has power to catalyse positive change and drive innovation in the STEM, arts and humanities fields.
“The collaboration shall spur economic development and promote sustainable solution to complex problems. This partnership will open doors to our students and faculties to engage in meaningful exchanges, collaborative research project and immersive learning experiences it offers them the opportunity to broaden the horizons expanded networks and gain invaluable insights from diverse perspectives.”
CORRECTION OF DATE OF BIRTH.
I formally know and address as JOSEPHINE OBEHI OJEKHEBHOLO now wish to be known and address as JOSEPHINE OBEHI IGOLIMAH. All former documents remain valid. The general public should take note.
I formally know and address as MISS EKENE STEPHANIE FELICIA IGWE now wish to be known and address as MRS. EKENE STEPHANIE FELICIA EFEIZEMOR. All former documents remain valid. The general public should take note.
I formerly known and addressed as MISS. ANIFOWOSHE SHALEWA BARAKAT. now wish to be known and addressed as MRS. KADEJO OMOSHALEWA BARAKAT. All former documents remain valid.
CORRECTION OF NAME
wrongly captured on my INTERNATIONAL PASSPORT as ELIMOTSE JULIUS instead of ELEMOTSE JULIUS which is on my CER- TIFICATE OF ORIGIN AND NATIONAL IDENTIFY CARD. Henceforth I wish to be known and addressed as ELEMOTSE JULIUS. All former documents remain valid. The General public should please take note.
CONFIRMATION OF NAME
used to use my two names CHUKWUEMEKA NDUKA-EZE but now wish to use my three names CHUKWUEMEKA CECIL NDUKA-EZE and i am one and the same person. All former documents remain valid. The general public take note.
taking her breakfast flask with her.”
Corroborating Omodon’s story, Mr. Ikpoba Johnbull, head of the village vigilance group, said: “Soon after the news of her disappearance broke that evening, we followed the girl’s mother to the farm.
“We immediately mobilised and combed the area up to Izighiri and Uwumuwe, two neighbouring villages, but could not find any trace of her. We only found the leftover of her lunch flask.
“We informed our neighbouring vigilance groups as we spent that night in the bushes but there was no result.”
Nigerian Emerges IFSW Africa Region President
Kemi Olaitan in Ibadan
A Nigerian, Ms. Toni Adeleke, has emerged the president of International Federation of Social Workers (IFSW), Africa Region. Adeleke, who is the immediate-past National Secretary of Nigeria Association of Social Workers (NASoW), was elected at the delegates conference of the association held last Tuesday in Panama. This is the first time a Nigerian Social Worker will emerge as the president of the organisation in the region.
Adeleke, who had earlier served as the Vice President of the association, succeeded Dr. Noel Muridzo from Zimbabwe. The National President of NASoW, Alhaji Mashood Mustapha, in a statement issued by the National Public Relations Officer of the Association, Mr. Musliudeen Adebayo, yesterday, described the emergence of Adeleke as timely, adding that it is an indication that Social Work profession has come to stay in Nigeria.
He urged governments at all levels, agencies, development partners and philanthropists to cooperate with the association so as to reduce social problems in the country to the barest minimum.
He said: “On behalf of the entire members of NASoW, I wish to congratulate the new IFSW Africa Region President, Toni Adeleke. She emerged during a strongly contested election, the result of which was announced last Tuesday.
“Toni Adeleke is the immediate-past National Secretary of NASoW, the umbrella body of all professional social workers in Nigeria. She had earlier served as Vice President of IFSW Africa Region.
“NASoW has the confidence that she will deliver. The good news is that this is the first time a Nigerian will be in that position since the establishment of IFSW Africa Region.”
Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com
The Secret of the Night of Power WORLD OF ISLAM
Muhammad Zuhri/IslamiCity
As creatures aware of our own existence, we human beings have a direct responsibility for our survival on earth. For this reason, each individual needs to know where to obtain whatever is necessary to ensure this survival.
The name of the process of becoming acquainted with the environment containing the natural resources we need is reading, and in order to survive, even the animals do it. When hungry or thirsty they neither eat rocks nor drink sand. This shows that reading requires no verbal indications from the Lord of the Worlds, for early on He revealed the text implicitly in the laws of nature which apply to the ‘dabbah’, or corporeal living creatures.
The Revelation “Read!”
The revelation “Read in the name of your Lord “ (Quran 96:1) was sent down only to human beings, in as much as human beings are the only creatures capable of acting as subjects in a personal universe. Only we human beings can distance ourselves from ourselves and objectify ourselves properly in terms of whatever pattern of truth we happen to live by. And by doing this a human being can obtain still another delight-the pleasure of having an existence, a pleasure far higher than that which comes from exploiting any kind of means, and a pleasure all the more lasting for the way it takes the form of an existential value.
When human beings fail to discover themselves in values, they suffer shame, a feeling animals never experience, proving that this dimension was never meant for them.
Shame. That is what the Prophet (pbuh) put forward as a phenomenon revealing that faith exists within the self. It is a means through which the Lord of the Worlds is willing to open the possibility of dialog with His creatures.
So, then, what exactly is shame? Why does its presence reveal the presence of faith? And what is faith? How is it able to bridge the absoluteness of God and the relativity of the human world?
Shame and Faith
Shame is a feeling that arises in the deepest human feelings when an individual finds himself in a crisis of values at a time when his consciousness is still oriented in that direction.
Allah’s Messenger (pbuh) identified it with faith because its presence in the self presupposes the existence of a properly functioning mind oriented toward the future. That kind of mind will never despair in the face of disappointing realities, no matter how bitter they may be.
“Surely none despairs of Allah’s mercy except the unbelievers” (Quran 12:87).
As for the word “faith,” it implies that a person is correctly oriented to the future or, in other words, that he has the right goal, which is none other than Allah Himself, the Most Holy and Most High. So, it is clear that the qiblat (the direction in which the worshiper prays) of shame is the same as that of faith. That is the way it is when a person’s conscious awareness has the right purpose, even though, in reality, it may be no more than a potentiality or a possibility awaiting an opportunity for self-actualization. Even so, it is desirable and will have a positive influence.
The Descent of the Qur’an
The foregoing makes it understandable that the Descent of the Qur’an was the descent of Allah’s Throne of Lordship upon the heart of the Prophet Muhammad (pbuh) in order to make it possible for him to carry out God’s management on the face of the earth.
This was something that had to happen, because the human race needs correct guidance enabling God’s great idea to be made a reality: ‘Baldatun thoyyibatun wa robbun ghafur’ (a beautiful and prosperous land whose people have been forgiven by Allah). If this fails to happen, this world, instead of a place filled with Allah’s mercy, must instead be only a place filled with vicious struggle for scarce facilities ending in mass destruction as a result of the stupidity and abuses of this world’s own inhabitants, of those on whom wrath has been brought down (‘dlollun’) and those who have gone astray (‘maghdlub’).
The Descent of the Throne of Allah’s Lordship upon the hearts of His elected servants is the choice made by the Lord of the Worlds instead of descending in person to this created world of His. That is why he created the Barzakh (isthmus) between Allah’s Sea of Absolutism and the world’s Sea of Relativism to ensure that they do not become mixed up. “Between them is a barrier which they cannot pass.” (Quran 55:20).
His words alone, sent down upon a mountain, would have resulted in its destruction as a result of the mountain’s inability to support them. “Had We sent down this Qur’an on a mountain, thou wouldst certainly have seen it fall down, splitting asunder because of the fear of Allah.” (Quran 59:21)
The Technique of Acquiring Existential Wholeness
In the verse “Read in the name of thy Lord Who creates,” (Quran 96:1) there is the implication that we have the obligation, in reading any object we may be facing, not to get between it and its originator: the “Lord Who creates.” In this way we can arrive at a holistic understanding of that object while protecting ourselves against an undesirable prejudice either against it or in its favor. Treating it as something to be worshiped would not only cause us to fall into the sin of polytheism but also lower it itself into an object unfit to be touched, thus causing us to have the attitudes of a monasticism or priesthood that cannot represent God’s management of this world.
The next verse, “Creates man from a clot of blood” (Quran 96:2), leads our awareness to the meeting point where we touch our selfhood as both subject and object. The Allah Who makes a thing into an object is the Allah Who created us all from something objective in nature - a clot of blood.
What will bring a new coloration to the lives of believers is awareness of the meeting point between the cultural subject and object in their existence as creations.
Further, no object we encounter in the process of living is as simple as it appears. We can encounter such objects in their perfection only with the support of the millions of causes in the history of their coming into being, this history being a process of natural evolution and of cultural good offices involving a variety of scientific disciplines, skills, and the personae of their creators. This is symbolized in the Qur’an as a “pen” in “Who taught by the pen” (Quran 96:4).
The understanding that ‘the pen’ is the chain of causes leading to the birth of each object will make us aware of the existence of the universe’s services to cultural reality. As a consequence, an awareness will grow that we must respond in the most satisfactory way possible to each object by expressing its positive possibilities and ignoring its negative potentialities. This moral attitude will give rise to the high sense of responsibility we know as “Amar ma’ruf nahi mungkar” (enjoining good and forbidding evil). The effect of this will make an individual into a believer who is wholly united with the universe in an unending flow of creativity. This is not the same as merely feeling at one with the universe in a state of ecstasy or static meditation.
Such a condition is a proof of ability to comprehend the Divine Command behind each object we meet. “Surely His is the creation and the command.” (Quran 7:54)
This is not known to all who open their eyes wide before an object, but only to those graced by Allah with the method for reading. “Taught man what he knew not” (Quran 96:5).
The reading method taught by the Lord of the Worlds will lead us into the Presence of our true Dialog Partner. Only the awareness that His Command is behind each object will make it possible for our dialog to charm the Power of God into descending upon His field of creativity, not, of course upon the self of the Subject of History nor its Object, but upon its process of development, which takes place while the dialog goes on.
“Surely my Lord is on the straight path” (Quran 11:56).
This is the reason that according to the Qur’an good deeds are not the property of their doer, but of Allah alone. “Whatever good befalls thee, it is from Allah” (Quran 4:79).
This is because no one will do good without a dialog partner to set the good intention in motion.
The willingness to express oneself well and rightly is what ‘Hidayah’ (guidance) means, and the dialog partner capable of inspiring the expression of goodness and truth is the meaning of ‘Taufiq’ (success), while the means enabling the two to bring it about is called ‘Rahmat’ (mercy). As for the development process obtained by means of such a dialog relationship, it is called the Moment of Tauhid (the profession of Unity) or Wholeness in Allah.
Wisdom or Contextual Truth
The descent of the first revelation upon the Prophet (pbuh) is called the Night of Power, because that is when the personal power of a servant transcended itself and was able to reach prophetic universality.
In Muhammad (pbuh) this took the form of an ability to actualize divine revelation in authentic behavior called uswatun hasanah (an excellent example).
If this also happens to one of his followers, it will take the form of an ability to understand divine revelation within the context of the development needs of the faithful of one’s time and of the authentic behavior called Wisdom or contextual truth.
The signs Allah gives through the self-actualization of a knower taught by Him, which is what is meant by ‘Arif-Billah’ (a true believer), are the reality of contextual truth or Wisdom in the taking over of God’s management at a time of chaos or dilemma. Although it is unique, Wisdom always projects the light of divinity and is a highly important aid to the process of self-identification in interpersonal relations.
FRIDAY APRIL 5, 2024 THISDAY 38 NEWS XTRA
formerly known
as MISS OLANREWAJU ADEBISI ‘YEMI now wish to be known and addressed as MRS BAKARE ADEBISI OLUWAYEMISI. All former documents remain valid. The general public should take note.
The general public should please take note. I formerly known as CHIBUNDU GOODNESS NNENNAYA now wish to be called and addressed as OBASI GOODNESS NNENNAYA. All former documents remain valid. Authorities concern and general public should please take note. I, AKPASUBI EMMANUEL OSEMUDIAMEN wish to state that my correct Date of Birth is April 28,1984 and not April 28, 1989 as erroneously stated in my International passport. Immigration authorities and the general public should take note.
my name was
That
Super Falcons Set to Banish Banyana Ghost Tonight in Abuja
Femi Solaja
Spectators who will troop into the MKO Abiola National Stadium in Abuja tonight are guaranteed a game for the vintage memory as nine-time African champions Nigeria and reigning champions South Africa clash in a highly explosive and no-holds-barred encounter with the 2024 Olympic Games women’s football event ticket at stake.
Both countries, with stellar talents in the women’s game, reached the last 16 of the Women's World Cup in Australia and New Zealand last year, and Nigeria, at 36th in the world, are ranked 15 places above South Africa. The match will be at hand from 5pm.
Banyana Banyana are aiming to qualify for the Games for the third time, after appearing in 2012 and 2016, while Nigeria are seeking a return to the Olympics for the first time since 2008.
To underscore their seriousness about giving the Super Falcons a good fight for the ticket, the delegation of Banyana Banyana
OLYMPIC GAMES QUALIFIER
to the encounter arrived in Abuja since Sunday, and have been training for the big match since that day.
On Monday, the South African High Commission started an active mobilization of South Africans living in Nigeria to come and support the reigning African champions.
On Wednesday, NFF General Secretary, Dr. Mohammed Sanusi called on residents of Abuja and environs, and even in the neighbouring states, to storm the MKO Abiola Stadium in their thousands to cheer the Falcons to victory.
The above scenario means that a sizable crowd is guaranteed inside Nigeria’s largest football temple this Friday evening.
Coach Randy Waldrum is most likely to stick to his tested-and-trusted World Cup rearguard, including goalkeeper Chiamaka Nnadozie and defenders Michelle Alozie and Osinachi Ohale. In the absence of the injured Oluwatosin Demehin and Ashleigh Plumptre, Alozie could move
Super Eagles Retain Third Spot in Africa in Latest FIFA Ranking
Nigeria’s 0-2 loss to Mali penultimate week in Morocco may have caused the Super Eagles to drop from last month’s 28th position to 30th in the latest FIFA ranking released yesterday morning.
However, despite the drop in global ranking, the Super Eagles remain in third position in Africa behind Morocco and Senegal.
The Nigeria versus Mali match was just one of the 174 games at the last international window.
Nigeria played two matches, one of which Super Eagles won, a 2-1 defeat of their traditional rivals, the Black Stars of Ghana.
According to a press release by FIFA, the matches played all over the world had a significant effect on the current World Ranking, most notably within the top ten.
Argentina (1st) continue to lead the way ahead of France (2nd), but Belgium (3rd, up 1) have returned to the podium at the expense of England (4th, down 1). Brazil (5th)
completes the top five, but Portugal (6th, up 1) are now knocking on the door. The Netherlands (7th, down 1) have slipped one place, whereas Spain (8th), Italy (9th) and Croatia (10th) have all held on to their positions. The USA (11th, up 2), Colombia (12th, up 2), Ukraine (22nd, up 2) and Poland (28th, up 2) have all made progress up the ranking. It is outside of the top 100, however, that the biggest movers are to be found. Libya (114th, up 6) and Afghanistan (151st, up 7) have made impressive progress, but it is Indonesia (134th, up 8) who are the biggest climbers on the back of their two victories over Vietnam during FIFA World Cup 26 qualifiers.
Finally, the performances of Qatar (34th, up 3) and Comoros (117th, up 4) are also worthy of mention as both teams are now in their highest-ever position in the ranking.
to left back to give returnee Chidinma Okeke the space on the right, with youngster Shukurat Oladipo likely to pair Osinachi in the centre.
Hard-as-nails Halimatu Ayinde and Christy Ucheibe will spearhead
the midfield, with Captain Rasheedat Ajibade and the slippery Deborah Abiodun providing the guile and flamboyance. Uchenna Kanu, Esther Okoronkwo, Jennifer Echegini, Rinsola Babajide, Gift Monday, Asisat Oshoala and the returnee Chiwendu Ihezuo are all options in the attack.
Coach Desire Ellis also has dependable weapons in her armoury, not least of them the nimble-footed Thembo Kgatlana, and Jermain Seoposenwe, both based in Mexico. There’s also the crafty Hildah Magaia, as well as midfielders Linda Motlhalo, Jane Refiloe and Nomvula Kgoale.
“We want our people to come to the stadium and support us. The Super Falcons do not fear any team. With their support, we will play with total confidence and overcome,” said goalkeeper Nnadozie. The return leg will take place at the Loftus Versfeld Stadium in Pretoria on Tuesday evening.
Chelsea Win Seven-goal Thriller with Man Utd
Cole Palmer
twice after the 100-minute mark to complete his hattrick and earn Chelsea a remarkable 4-3 win against Manchester United despite having previously given up a two-goal lead.
It was a breathless start at Stamford Bridge, with Blues captain Conor Gallagher slamming the hosts in front and Palmer doubling the lead from the spot after Antony fouled Marc Cucurella.
But Alejandro Garnacho sparked a
United comeback when he pounced on Moises Caicedo's poor pass across the back.
Bruno Fernandes pulled United level just five minutes later when he headed in Diogo Dalot's cross.
Garnacho scored his second when he headed in an excellent outside-of-boot cross from Antony past goalkeeper Djordje Petrovic, with what United thought was the winner. That was before a dramatic end to the match saw Chelsea take all
three points.
Elsewhere on the night, Liverpool defeated Sheffield United 3-1 to move back to the top of the Premier League and maintain control of the title race.
The hosts were gifted a 17thminute lead when Darwin Nunez charged down goalkeeper Ivo Grbic's clearance with the ball rebounding into the net.
Despite having 84% of possession in the first half and wasting numerous chances, Liverpool conceded a
58th-minute equaliser as Gustavo Hamer's header bounced off Conor Bradley and into his own net. But Argentina's World Cup-winning Alexis Mac Allister - nominated for March's Premier League Player of the Month award - produced a stunning 20-yard strike which flew into the top corner to put the hosts back in front with 14 minutes
Adepoju, Akinwunmi for Grand Finale of FCV Gladiator Football Camp
Former Super Eagles star, Mutiu Adepoju and Immediate past first Vice President of the Nigeria Football Federation (NFF), Seyi Akinwunmi, will today grace the grand finale of the 2nd FCV Gladiator Football Camp at Grange School, Lagos.
The camp which is organised by Lagos-based Dynaspro Promotion in collaboration with UK-based FCV International Academy has been endorsed by the Nigeria Olympic Committee (NOC) is aimed at nurturing talents with the intention of combining football
with education.
Adepoju who was part of the Super Eagles for the FIFA World Cups in 1994, 1998 – where he scored in a 3–2 win against Spain; was also a member of the Nigeria U20 team that played in the 1989 FIFA World Youth Championship is expected to mentor the participants on the need to marry football with education coupled with some other tips to succeed on the field of play.
Adepoju said he decided to be part of the camp in order to follow his passion for youth development. “I
believe in discovering future stars and I hope to show them what it takes to be successful through hard work and discipline and take them through my journey as an ex-footballer,” an excited Adepoju said.
For the Head of Football at FCV International Academy, Grant Brown, the enthusiasm shown by the participants daily inspired them to motivate the students. “I am impressed with the students because they showed sincere interest in what they are learning which is a motivating factor for us
and we hope we can help them to discover themselves and continue to work hard even after the camp. At FCV, we are interested in the whole development of the child and we will continue to support Nigerian students in their quest to combine football with education,” the former Leicester City defender added.
Over 100 students between age 6 and 18 have been taking part in the camp as four outstanding participants would be selected by the coaches for scholarship at FCV International Academy in the UK.
FRIDAYSPORTS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
Liverpool regains Premier League top spot from Arsenal
THISDAY FRIDAY, APRIL 05, 2024 39
Cole Palmer (left) scored a hat trick of goals as Chelsea defeated Manchester United 4-3 in a seven-goal thriller last night at the Stamford Bridge
L-R: Vice President (Africa), National Basketball Association and Country Head (NBA Nigeria), Gbemisola Abudu, and Grace Ladoja, Founder, Homecoming, at the NBA x Homecoming 2024 Basketball, demonstrating the intersection of sports and culture at Landmark Basketball Court, Lagos...last weekend
scored
left. Mac Allister nearly grabbed a wonderful second but saw his curling free-kick bounce off the crossbar.
MISSILE
Shehu Sani to El-Rufai
“The looting of Kaduna State cannot be remedied by revelations alone but by courageously constituting a probe panel headed by an independent professional accountant or auditor who will invite and investigate exgovernment officials and their proxy contractors to account for the millions in dollars and billions in Naira that were misused or outrightly stolen, including the $350m loan” –Former Kaduna State Senator Shehu Sani, calls for probe of ex-governor Nasir El-Rufai
DAKUKU PETERSIDE
BENEATH THE SURFACE
The Parliamentary System Debate
The debate over which system of government is most appropriate for a multiethnic and geographically diverse Nigeria has suddenly resurfaced. This time, it is pushing the fundamental issues of good governance, bread and butter, security, and inclusiveness that Nigeria is grappling with to the back burner. At the centre of the debate is the agitation for a return to the parliamentary system of government as the structural panacea to Nigeria’s myriads of problems, although Nigeria has long consigned this system of government to history. Agitating the minds of critical observers of Nigerian politics is whether this renewed debate is political or systemic or is just a symptom of frustration with poor governance outcomes. Will a change from a presidential system of government to a parliamentary system put Nigeria on a trajectory of growth and development? Is there solid evidence that our many woes come from the practice of the presidential system of government, that a change to parliamentary will help us overcome?
The first to fire the salvo was a group of 60 members of the National Assembly that proposed a bill to take the country back to the parliamentary system. Support came from diverse and far-flung quarters in rapid succession, including Afenifere, the pan-Yoruba political platform. We are not alone here. In late March this year, our neighbour, Togo, adopted a new constitution introduced by members of the ruling party, which transitions the West African nation from a presidential to a parliamentary system. Senegal also witnessed a significant generational shift in electing a new president. Developments in Togo and Senegal would increase the intensity of debate and agitations in Nigeria. In retrospect, we have tried both the parliamentary and presidential systems at different times. Between 1960 and 1966, referred to as the first republic, Nigeria, like most African countries that just got independence from their British colonial masters, adopted a parliamentary system of government. It had its challenges and strengths. At the breakdown of the first republic, the popular verdict was that the system was not the most appropriate for us or that the Nigerian political elite could not operate it. The military government of 1976-1978 led by General Olusegun Obasanjo, and the growing political elites considered the pros and cons of the parliamentary system, which was still fresh in Nigeria’s minds, and decided that the cons outweighed the pros. Just before the 1979 military-civilian transition, they chose the presidential system for us.
The justifications for this choice were to improve issues of management of geographical diversity, representation of various groups, repudiating strong ethnic sentiments against national sentiment, and eliminating corruption.
However, like the parliamentary system, the presidential system has merits and demerits.
The most significant challenges of the presidential system as practised in Nigeria are fourfold. The first is the tendency of the executive arm to pocket the legislative arm, which has made nonsense of the principle of separation of power, and checks and balances. The US-type presidential system is predicated upon a system of checks and balances. This vital principle does not allow for the rascality of any arm of government that may jeopardise the system. Since the return of democracy in 1999, and it is particularly evident at the subnational level, this principle has been rendered impotent. Second, the enormous powers exercised by the president and governors tend to be abused and often breed dictatorship. Third, the winnertakes-all-mentality, which leads to the abuse of power of patronage that fuels corruption and exclusion of the majority from mainstream government activities, saps the government’s access to quality leadership potentials within the country. Fourth, the high cost of governance and low accountability have created a government system that is corrupt and overbearing. Our common patrimony is bastardised by a few privileged to be part of the government.
The attempt to revisit the parliamentary system is not unconnected to our
current economic challenges, ethnic tensions or separatist agitations, and corruption that has defied solution and gross incompetence of a good number of our political leaders. As a participantobserver, I believe Nigeria’s current governance crisis is less a problem of the system of government and more of political culture, incompetence of operatives and political actors,lack of leadership capacity and moral depravity. Each system has its pros and cons. Any system can be designed,considering local peculiarities and made to work if run by competent persons who subscribe to a common vision and shared core values and are ready to respect the rule of law. Nigeria’s problems of disunity, lack of patriotism, stunted growth, corruption, and leadership incompetence are neither a product of the parliamentary nor presidential system. It is simply a lack of commitment by the elite to democracy, democratic tenets and the common good. Democracy is not just about representative election, which we practice, though with a massive caveat regarding its credibility. It is more about practising its principles , such as the rule of law, upholding fundamental freedoms of the people, accountability of government to the people, security of life and property, and responsible governance that gives dividends of democracy to the people.
Whether Nigeria should transition to a parliamentary system of government is a complex question that involves weighing various factors, including the country’s political culture, multi ethnic setting , historical context, governance challenges, and aspirations for democratic development. Proponents of a parliamentary system argue that it can promote political stability by ensuring a closer alignment between the executive and legislative branches of government. In a parliamentary system, the government is typically formed by the majority party or coalition in the legislature, leading to smoother governance than the potential for gridlock in a presidential system. Also, they argue that parliamentary systems often feature a more transparent chain of accountability, as the executive is directly accountable to the legislature. This can enhance transparency and responsiveness to the electorate’s needs. They further argue that parliamentary systems are more flexible in responding to crises or changing circumstances. If the government loses the legislature’s confidence, it can be replaced swiftly through a vote of no confidence or early elections, allowing quicker course corrections. Lastly, a parliamentary system could better accommodate the representation of various groups by fostering coalition-building and power-
sharing among different factions. Achieving this transition to a parliamentary system requires significant constitutional reforms, which can be lengthy and contentious. It would also necessitate changes to the electoral system and the functioning of government institutions. Nigeria has a long history of presidential governance since gaining independence in 1960. Transitioning to a parliamentary system would represent a departure from this tradition and may encounter resistance from those vested in the current system. Implementing a parliamentary system would require building institutional capacity, training legislators and administrators, and fostering a political culture conducive to coalition-building and consensus-driven decision-making. A marked difference between the two systems is the cost of governance versus development, which weighs heavily in favour of the parliamentary system. This may be an attraction for proponents of a parliamentary system. However, it would help if you juxtaposed this with which system is more appropriate for governing a diverse multi-ethnic federation and what system has worked best for the most successful federations in the world. Opponents of a transition to a Westminster-style parliamentary system have also argued that switching could aggravate the challenges of governability because of our political parties’ high level of indiscipline, poor political culture, ethnic cleavages, and the multi-ethnic nature of our society.
Ultimately, the decision to transition to a parliamentary system should be guided by careful consideration of the preceding factors and a broad-based consultation and consensus-building among stakeholders. It is essential to assess whether such a change would address Nigeria’s governance’s underlying challenges and contribute to its long-term political stability and development. The inference to draw is that the current agitation is a demand for a new political culture, protest against the high cost of governance, incompetence of the political leadership, bloated bureaucracy, and poor governance outcomes. There is no definite study to show a relationship between a system of government, thriving democracy, and a high standard of living. Nigeria’s problem is not necessarily the system of government we practice but the leadership deficit among the political operatives and actors. No matter which system is in place, we will have the same results as we are seeing now if the same morally jaundiced and intellectually bankrupt political actors hijack power and rule in their narrow, selfish interests. That is our bane. That is what we must change to survive.
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Senate President, Godswill Akpabio