WEDNESDAY 6TH APRIL 2022 by THISDAY Newspapers Ltd

Worsening Insecurity: Again, Senate Asks Buhari to Declare War on Terrorists Nigeria exceedingly troubled, says Okowa Govs, speakers meet Friday LCCI tasks FG to halt descent into lawlessness, anarchy Deji Elumoye, Chuks Okocha, Sunday Aborisade in Abuja, Dike Onwuamaeze in Lagos and James

Sowole in Abeokuta The Senate yesterday reiterated

the need for President Muhammadu Buhari to, as a matter of urgency, declare total war on

terrorists. The upper chamber stated this at plenary, when it also observed a minute’s silence

for those killed in a recent attack by bandits on Guni, Munyan Local Government Area of Niger

State, which resulted in a boat Continued on page 10

Buhari: Nigeria Fast Becoming Leading Fertiliser Producer in Africa… Page 8 Wednesday 6 April, 2022 Vol 27. No 9857. Price: N250

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Kyari Rallies NUPENG, NARTO, Others to Tackle Crude Oil Theft... Page 6

Once Again, Terrorists Strike Kaduna, Attack Military Camp, Kill 15 Soldiers, Three Civilians DHQ confirms incident, yet to get full details Lawmakers meet service chiefs, IG, ministers behind closed doors El-Rufai: Nation at crossroads, we must get leadership right in 2023 Attack on one is attack on all, says Tinubu, donates N50m Kingsley Nwezeh, Udora Orizu in Abuja and John Shiklam in Kaduna In yet another mindless attack, this

time on a military camp in Kaduna, terrorists, yesterday, killed about 15 soldiers and three civilians at Poll Wire, Birnin Gwari Local

Government Area of Kaduna State. The Defence Headquarters (DHQ), however, confirmed the attack but said it awaited further

information. Meanwhile, the principal officers of the House of Representatives and Chairmen of Security Com-

mittees, yesterday, met behind closed doors with the service chiefs, Minister of Transportation, Rotimi Amaechi; Minister of

Aviation, Hadi Sirika; Inspector General of Police, Usman Akali Continued on page 10

Finally, PDP Ditches Zoning, Throws Presidential Ticket Open Atiku, Saraki, Tambuwal, Bafarawa, others in joyous mood Enugu gov unhappy, Fayose withdraws from committee, to join presidential race Chuks Okocha in Abuja After much foot-dragging, the Peoples Democratic Party (PDP) has finally jettisoned zoning. The 37-man committee set up by the party to decide on whether or not to zone its presidential ticket reached a unanimous decision to throw the ticket open to aspirants from all the zones of the country, THISDAY learnt yesterday. Though, there was no official confirmation yet, sources in the zoning committee, who attended a meeting yesterday at the Benue State Government Lodge, in Abuja, disclosed that the presidential ticket had been thrown open to all the 13 aspirants that had bought presidential nomination forms. Addressing newsmen in Abuja, chairman of the committee and Governor of Benue State, Samuel Continued on page 10

R-L: Lagos State Governor, Mr. Babajide Sanwo-Olu; Chief Executive Oﬃcer (CEO), FSD Africa, Mr. Mark Napier; British Deputy High Commissioner (DHC) in Lagos, Mr. Ben Llewellyn-Jones and Special Adviser to the Governor on SDGs and Investment, Mrs. Solape Hammond, during a courtesy visit by the management team of FSD Africa and FMDQ Group PLC, at Lagos House, Marina, Lagos ...yesterday

2023 Election: INEC Warns Parties against Disobedience to Elections Guidelines... Page 50

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NEWS

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

WHEN FEPSAN CAME CALLING AT THE VILLA... L-R: Chief of Staﬀ to the President, Prof. Ibrahim Gambari; President Muhammadu Buhari; President, Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN), Mr. Thomas Etuh and Governor, PHOTO: GODWIN OMOIGUI Central Bank of Nigeria (CBN), Mr. Godwin Emeﬁele, during the visit of executive committee of the association to the presidential villa, Abuja... yesterday

Senate Extends 2021 Budget Implementation to May 31 Stop IOCs evading tax from lifting crude oil, committee tells NUPRC House moves to address increase in price of diesel, gas Grid collapse: Lawmakers urge FG to upgrade power infrastructure, seek alternative sources Deji Elumoye, Sunday Aborisade and Udora Orizu in Abuja The Senate yesterday extended the implementation of the 2021 Appropriation Act from March 31st to May 31st, 2022. The extension was approved following the consideration of a bill to amend the 2021 Appropriation Act. Equally, the Senate Committee on Finance yesterday directed the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC) to stop international oil companies evading taxes from lifting crude oil from Nigeria. On the other hand, the House of Representatives yesterday mandated its Committees on Petroleum Resources (Downstream), (Upstream) and Gas Resources to investigate the astronomical increase

in the price of diesel and gas, with a view to ensuring that reasonable prices were fixed to alleviate the sufferings of Nigerians. This is just as lawmakers at the green chamber yesterday urged the federal government to take urgent steps to address the epileptic power supply in the country which they argued had brought untold hardship on Nigerians. However, the Senate had before the consideration of an amendment to the 2021 Appropriation Act, suspended Rule 78 (1) of the Senate Standing Orders 2022 (as amended), to enable the upper chamber to expeditiously introduce and pass the bill. The bill was read yesterday for the first, second and third time after the suspension of Rule 78(1). The bill was sponsored by the Senate Leader, Senator Yayah

Abdullahi (Kebbi North). Abdullahi, who led the debate, recalled that prior appropriation acts in the past were passed mid-year, with their implementation usually extended to the following year. The lawmaker, noted that in previous appropriation acts, the extension were usually covered by a Clause, in line with the provisions of Section 318 of the Constitution of the Federal Republic of Nigeria, that the law runs for a period of 12 months, starting from the date it comes into effect. He, however, observed on the contrary that Clause 12 of the provisions of Section 318 of the Constitution provides that the 12-month period starts from the 1st day of January to 31st day of December, 2021. He recalled that the 2022 Appropriation Act was amended to

extend the implementation year from 31st December, 2021 to 31st March, 2022. Abdullahi, explained that the extension of the budget period became imperative in view of the need to complete ongoing projects nearing completion. He said, “As you are aware, the 2021 virement of the aggregate sum of N276 billion was approved for several MDAs by the National Assembly in December, 2021 along with 100 per cent release of the 2021 capital budget of the MDAs. “A significant portion of the releases to the MDAs has been utilised following the extension to 31st March, 2022. “In view of the critical importance of some key projects nearing completion, it is expedient to grant further extension of the expiration clause to avoid compounding the problem of

Infracredit, FSD Africa Seal Deal to Unlock Climate-aligned Local Currency Infrastructure Bonds The InfraCredit, a specialised infrastructure credit guarantee institution in Nigeria and the FSD Africa, a specialist development agency working to help make finance work for Africa’s future, have signed a technical assistance agreement. Under the agreement, the FSD Africa would provide funding for technical assistance to support pre-feasibility studies as well as the pre-transaction and transaction costs, including the design of innovative financing solutions for eligible projects that can issue climate-aligned local currency infrastructure bonds. A statement explained that the successful implementation of the project would enable up to 10 climate-aligned infrastructure projects reach financial close, support new job creation and enable more capital markets instruments to be issued to institutional investors. Speaking on the Agreement with FSD Africa, the Chief Executive Officer of InfraCredit, Chinua Azubike, stated that, “To date, InfraCredit's guarantees have

enabled the issuance of up to $200 million (naira equivalent) of local currency infrastructure bonds, however an increasing pipeline of climate-aligned infrastructure projects are constrained by limited financial resources being dedicated to deliver well-structured projects that can access the debt capital markets, thus, our collaboration with FSD Africa through technical assistance support will also involve the design of an innovative financial solution that will catalyse more bankable climate-smart infrastructure projects for InfraCredit’s guarantees which will accelerate the issuance of credit worthy local currency infrastructure bonds to domestic institutional investors, thereby deepening the debt capital markets in Nigeria.” Speaking on the Agreement entered into with InfraCredit, Mark Napier, the Chief Executive Officer of FSD Africa, noted that: “FSD Africa is pleased to facilitate the design of innovative financial markets products that will support institutions like InfraCredit provide access to inclusive capital.

“Our technical assistance will support the design of a vital climate-focused infrastructure facility that will bridge short term greenfield capital with long-term capital markets funds. “Our partnership with Infra-

Credit intends to spur increased access to long-term finance and build financial sector resilience and environmental sustainability through local credit enhancement facilities (Guarantees) provided by InfraCredit.”

abandoned projects given that some of the projects were not provided for in the 2022 budget hence the need to extend the implementation year form 31 March, 2022 to 31st May, 2022.” The bill to amend the 2021 Appropriation Act was, thereafter, passed sequel to its consideration by the Committee on Supply. Meanwhile, a total of three bills yesterday scaled second reading on the floor. The bills seek to establish the National Industrial Technology Park; the Federal College of Agriculture Ise-Orin, Ekiti State; and Federal University of Agriculture Ogoja, Cross River State. The bills were sponsored by Senators Ibikunle Amosun (Ogun Central), Biodun Olujimi (Ekiti South) and Agom Jarigbe (Cross River North). The bills after consideration were referred by the Senate President, Ahmad Lawan, to the Committees on Trade and Investment; and the Joint Committees on Tertiary Institutions and Agriculture and Rural Development. The Committees were all given four weeks to report back to the upper chamber.

Stop IOCs evading tax from lifting crude oil, Senate tells NUPRC

The Senate Committee on Finance has directed the NUPRC to stop international oil companies, which are evading taxes, from lifting crude oil from Nigeria. The red chamber said all the defaulting IOCs must pay the requisite tax to the Federal Inland Revenue Service (FIRS) before they would be allowed to continue their business. The Chairman of the Senate Committee on Finance, Senator Solomon Adeola, stated this when the Chief Executive of NUPRC, Gbenga Komolafe, appeared before the panel. He was at an interactive session with the senate committee on revenue losses in the maritime sector. He added that from the preliminary findings of his committee, there was need for serious back duty investigations of all foreign oil companies lifting Nigeria crude oil in relation to their compliance with tax obligations according to extant laws of the land. He said, "The Committee is directing your commission to stop all companies lifting crude oil from Nigeria until they show evidence of tax payment as they are mandated by law to pay. "Alternatively, the companies can do a payment on account Continued on page 26

FG to Address Challenges Facing Cotton Industry, Says Minister The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo has expressed the determination of the federal government to address challenges facing the cotton industry with a view to creating jobs for the teeming unemployed youths. Addressing a delegation of the National Cotton Association of Nigeria (NACOTAN), who paid him a visit in his office on Monday, the minister noted the cotton industry has the, "capacity to transform Nigeria’s rural economy and revive the textile and garment industries by creating over two million jobs, improve internal revenue across three tiers of government, reduce $4 billion

import bill incurred annually on textile and apparel, earn foreign exchange and make Nigeria a global player in textile and apparel." According to him, "In the 1970’s and early 1980’s, Nigeria was home to Africa’s largest textile industry, with over 180 textile mills which employed close to over 450,000 people and contributed over 25 per cent of the workforce in the manufacturing sector. “Today, most of those factories have all stopped operations, textile factories are operating at below 20 per cent capacity with a workforce of less than 20,000 people.” A statement quoted the minister to have added: "I am happy to announce to you that Mr. President

is determined to change the narrative and rewrite the history of Nigeria’s struggling Cotton, Textile and Garment (CTG) sector. In 2019, the government flagged off the Wet Season Cotton Input Distribution to 150,000 farmers in Katsina under the Anchor Borrowers Programme. “They are cultivating over 180,000 hectares of cotton that will feed our ginneries. Production is also ongoing across many states with more to come onboard in the next planting seasons." President of NACOTAN, Mr. Anibe Achimugu had earlier called on the federal government to revamp the cotton industry to provide jobs for teeming unemployed Nigerian youths.

He stressed that if the sector was revived it would not only help to take youths off the streets, but also help to address youth restiveness, banditry, drug abuse and emigration issues. He noted that the industry is the second largest employer of labour in the country and deserved the much needed attention of the Federal Government to enable the industry to contribute its quota to the economic development of the country. Achimugu told the minister that prevailing global economic development called for a wider and more sustained approach to dealing with the challenges in the industry.

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EiE's 12TH ANNIVERSARY SYMPOSIUM... L- R : Chairman, Editorial Board of THISDAY Newspapers, Mr. Olusegun Adeniyi; Senior News Anchor, Arise TV, Ms Ngozi Alaegbu; Hon. Minister of Works and Housing, Mr Babatunde Fashola,SAN; Executive Director, Enough is Enough Nigeria (EiE), Ms Yemi Adamolekun; Executive Secretary, Nigerian Elections Debate Group, Mr. Edward Emessiri and Executive Director, DAAR Media Academy, Mr. Imoni Amarere, in a group photograph shortly after the EiE's 12th Anniversary Symposium with the theme, "On Debates & Democracy'' held at the Shehu Musa Yar'Adua Centre, Abuja... yesterday

Kyari Rallies NUPENG, NARTO, Others to Tackle Crude Oil Theft

Peter Uzoho

The Group Managing Director of the Nigerian National Petroleum Company Ltd, Mele Kyari is seeking the support of the National Association of Petroleum and Engineering Gas Workers (NUPENG), the National Association of Road Transport Owners and other stakeholders in the oil and gas sector to tackle the issue of crude oil theft in the Niger Delta region. He said this yesterday, at the 5th quadrennial delegates conference holding in Asaba, Delta State. The conference with theme, "Just Energy Transition: For oil and gas workers social welfare and security," was attended by the Minister of Labour and Employment Dr. Chris Ngige who was represented by the President of the Nigerian Labour Congress Ayuba Wabba; the Governor of Delta State who was represented by his Deputy Phillip Shuaibu and the Group Executive Director (Upstream), NNPC Ltd,

Engr. Adokiye Tombomieye and other senior government officials. Theft of crude oil has been having negative effect on the revenue of the federal government. Speaking on the development, the NNPC GMD told participants at the conference said that the impact of pipeline vandalism had reduced the capacity of the country to meet its production quota. He lamented that currently, Nigeria was producing less than 1.5 million barrels per day of crude oil. Kyari said as major stakeholders in the oil and gas business, time had come for NUPENG and NARTO to collaborate with the NNPC in bringing the issue of crude oil theft to an end. He said, "You can see the short trouble that we have and what it has caused all of us. But more than this comrades, our locally industries is terribly challenged and you may be aware, we have seen vandal activities around our areas of operations not just in the Niger Delta but across

other corridors of product supply. "Activities of oil thieves that has gotten to a limit that we haven’t seen before almost bringing down this industry to its knees today. "As we speak now, our production total is less than 1.5 million barrels per day. This no doubt will affect the investing companies, they will not have the resources to continue to invest and therefore making more and more sustainable employment to become a challenge, no doubt about it. "That is why all of us must practically come together to see how we can contend it. There is so much going on now. We are leading a process to ensure that we intervene in the security matter. "We want to ensure that verybody is involved so that ultimately we are able to get back this industry or otherwise this industry will collapse in our hands and if it does, we will not be talking about employment and this is the reality we are facing today.

"You are very critical in stopping some of the situations today because when people steal products and they convert them to diesel, they will use your trucks to bring them into the country. "And you can play a very prominent role to stop some of these transactions going on and I really implore all of us to come on the desk so that this industry can survive. "We are partners and workers in the industry and NNPC is here to protect and preserve every institution that is helping this industry to grow and survive.” This worrisome development of crude oil theft had been denying the country the much-needed funding to boost economic development. Apart from revenue loss, the issue of oil theft is currently threatening not only the NNPC's quest for energy security for the country, it is also having a debilitating effect on Nigeria’s revenue earnings. A Report released last month

during a meeting on crude oil theft between the Nigerian Upstream Petroleum Regulatory Commission and Oil Producers Trade Section, as well as the Independent Petroleum Producers Group, showed that between January 2021 and February 2022, Nigeria lost a whopping sum of $3.2bn to crude oil theft. The amount when converted by the official N416.25 to a dollar exchange rate translates to about N1.36trn. The Report revealed that oil theft rose significantly between 2021 and 2022, with over 90 per cent of total crude produced at the Bonny Terminal stolen in January 2022. On the issue of energy transition, the GMD said the concept does not mean that oil would disappear by 2050. He said what the concept of energy transition meant was that countries should start embracing cleaner source of energy that are more friendly to the environment. He stated that the NNPC was also championing this initiative by shifting more attention to gas

production which is a cleaner source of energy than fossil fuel. Kyari said, "No doubt energy transition is going on and for emphasis the meaning is that oil is not going to vanish by year 2050 or 2060. What it means is that oil will still be relevant; there will still be 100 million barrels of oil demand by year 2050. "It is the use and the cleanliness utilisation of it that will change and the activities that businesses do to ensure that the next event of our activities will become positive in such a way that you have a net zero situation "The world has accepted gas as a transition fuel. That you do need to have more gas development so that you can gradually transit. "So, Oil and gas business is not going to vanish. It will change in form and in utility. "In our case in Nigeria as we all know, we are energy deficient and access to clean power is still very low as we all know. Then this is the first step that we have to take to ensure that we arrive at that clean transition.”

Lawmakers Investigate Crude Oil Production, Revenue Generated by NUPRC PenCom Urges Nigerians to

Udora Orizu in Abuja

The House of Representatives Committee on Finance, yesterday requested for details of crude oil production from October 2021 to March, 2022, with a view to determining the revenue accrued to the Federation through Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The Committee chaired by Hon. James Faleke made the request during the investigative hearing on the Revenue Monitoring Exercise. As stipulated in the documents submitted to the Committee, out of total sum of N695.617 billion revenue realised by the Commission for the period under review, the sums of N616.182 billion; N19.556 billion; N39.085 billion; N3.502 billion; N6.693 billion and N10.599 billion, were generated from Oil Royalty, Gas Royalty, Gas Flared Penalty, Concession rentals, MISC Oil Revenue and Signature Bonus, respectively. Also from 24 contracts awarded from last quarter 2021, the sum of N55.438 million for renewal

of contract for the provision of 20 Mbps internet bandwidth in DPR offices nationwide to VDT Communications Ltd on October 18, 2021; N20.464 million for procurement and installation of network & communication devices for DPR Calabar Field and N10.899 million for Akure Field Offices awarded to Zionchrome Int'l Nigeria Ltd on October 5, 2021. Contract worth N49,921,250 was also awarded for engaging the service of consultant to facilitate Capacity Building on Upstream Petroleum Operations for relevant National Assembly Staff and Legislatives Aides for the NUPRC on the 24th December, 2021 awarded to Priceless Craft; N48.268 million contract to facilitate strategic engagement on budget and revenue for NUPRC awarded on December 24, 2021, as well as N39.295 million contract for separation and reconfiguration of smart inspector (Formelo) mobility workforce application for NUPRC; N78.045 million for renewal of automated upstream system (AUS) for NUPRC; among

others. While presenting NUPRC's position, Mr. Babajide Fashina, argued that the differential observed by the Committee would be resolved during the reconciliation with Fiscal Responsibility Commission. He said: "Details of revenue sources is based on oil royalty, gas royalty, gas sales royalty, gas flaring penalty, concession rental, miscellaneous oil revenue and signature bonus and all these are paid into the generation account, the Commission does not maintain any account of its own. “On the second one, which is the schedule of revenue collected, from October 2021 till February date, we have a total collection of N695,617,119.49. That was from October 2021 to February 2022. "And the breakdown as shown, the oil royalty which was the large one, we have N616 billion, the gas royalty, N19 billion, had flare N39 billion, Concession rental, N3.5 billion then Miscellaneous oil revenue, N6.69 and all these have been paid into the Federation Account. From January to December 2021, we were

able to generate about 2.7 trillion for the Federation." Responding to question on the Fiscal Responsibility Commission's activities, Mr. Bello Aliyu explained that from the N4 billion liabilities inherited from the defunct Department of Petroleum Resources (DPR), it was scaled down to N1.7 billion was taken over by the Commission. "The Nigeria Upstream Regulatory Commission is a new agency. It is the name that is new. The name was added to our purview December last year. So, we now wrote to them a letter sometimes in March to inform them of their responsibilities to Fiscal Responsibilities Act 2007 and then to inform them that, the obligations of DPR which was their former name is now transferred to them and that liability for DPR that they are responsible for is N1,739,837,045. This we informed them sometimes in March. I think 29th of March," he said. In his ruling, Faleke directed the Commission to submit proper reports on the volume of crude oil produced and details on the projected revenue.

Embrace Micro Pension Scheme Gideon Arinze in Enugu

The National Pension Commission (PenCom) has urged Nigerians to embrace the new micro pension Scheme in order to save for their retirement. Head of Corporate Communications, National Pension Commission, Abdulqadir Dahiru made this known during the commission's Special Day at the 33rd edition of the Enugu International Trade Fair. According to Dahiru, the new pension scheme was an initiative of the commission's five-year strategic plan, which aims to achieve an inclusive and expanded coverage of the pension industry with an aim to ensure that informal sector participants have an opportunity to save for their retirement. "With the new scheme, it means that celebrities, accountants, architects, lawyers, artisans, traders, stylists, farmers and more can now contribute for their pension" Dahiru said.

He explained that about 90 per cent of workers in Nigeria are in the informal sector and most of them do not have pension protection for old age, adding that with the increase in people living long, there is a risk of old age and poverty. He however noted that in addition to improving the standard of living of the self-employed on retirement, the micro pension scheme secures financial autonomy and independence of retirees. "Contributions are also flexible under the scheme which provides access to other incentives" he said, adding that contributions would be passed to the next of kin in case of contributors’ death. He maintained that the achievements recorded by the commission since 2004, have been a reflection of its unwavering efforts to build an industry with core values of integrity and transparency while also protecting the rights of contributors and retirees.

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TINUBU COMMISERATES WITH EL-RUFAI... L-R: Former Governor of Borno State, Senator Kashim Shettima; former Lagos State Governor, Mr. Bola Tinubu, and Kaduna State Governor, Nasir el-Rufai, when Tinubu visited the governor to commiserate with him over the recent attack by terrorists on an Abuja-Kaduna railway... yesterday

PwC: Over 80% of Central Banks Considering Launch of Digital Currencies Ndubuisi Francis in Abuja The vast majority of central banks in the world are considering launching a central bank digital currency (CBDC), according to

analysts at professional services and accounting firm, PwC. In the firm’s annual index of CBDCs and stablecoins, which was released yesterday, the analysts stated: “CBDCs will facilitate

more effective, lower cost and 24/7/365 cross-border payments for the financial services industry. “We expect that CBDCs will greatly benefit cross-border transactions and economies of

all relevant jurisdictions.” Overall, retail CBDC projects, which are digital currencies designed for public use, have reached greater maturity levels than wholesale projects, which are

Buhari: Nigeria Fast Becoming Leading Fertiliser Producer in Africa CBN has supported industry with N114.09bn in five years, says Emefiele Deji Elumoye in Abuja President Muhammadu Buhari yesterday disclosed that Nigeria was fast attaining the enviable status of being the leading fertiliser producer in Africa. This is just as the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has revealed that within the last five years, the bank has supported the fertiliser industry with N114.09 billion. Speaking while playing host to the Executive Committee of Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) at the State House, Abuja, the President attributed Nigeria’s rising prominence as Africa’s fertiliser powerhouse to the implementation of the right policies by the present administration. According to him: ‘‘With our over 70 blending plants operating, Nigeria is on its way to becoming Africa’s fertiliser powerhouse. And with our mega Urea production facilities, Nigeria is definitely a global player in the urea space." Buhari noted that the remarkable achievement, in a very short period of time, had ensured steady flow of investments to the sector from the private sector; bringing prosperity to millions of Nigerians and good returns to the investors. The president expressed delight that the era of persistent shortage of fertiliser in the country was over, commending FEPSAN for partnering with the government in the very patriotic backward integration project of enhancing the agricultural value chain. He noted steps taken by his administration to limit overreliance on imports, ensure the availability of the commodity and achieve selfsufficiency in food production in the country. His words: ‘‘When this administration came to office in 2015, our focus was on three key

areas - security, economy and tackling corruption. ‘‘For every nation to have peace and prosperity, its economy must be inclusive. ‘‘For Nigeria, a predominantly agrarian nation, having an inclusive economy meant we needed to prioritise the enhancement of our agricultural value chain. ‘‘We quickly identified the persistent shortage of fertiliser as a key reason for the low yields experienced in our farms. ‘‘This historical scarcity of fertiliser was due to our over reliance on imports and the inefficient participation of the government in distributing this essential commodity to the farmers. ‘‘As a government, it was very clear to us that these practices needed to change. Nigeria is naturally blessed with most of the raw materials needed to produce fertilisers. ‘‘Nigeria has all the skills and manpower required to convert these raw materials to fertilisers. With the right enabling environment, Nigeria has the entrepreneurs who are ready to invest in the sector. ‘‘So we went to work. And as the Chairman of FEPSAN mentioned in his remarks, the rest is now history." The president noted that a key indicator of the present government’s successful policies was the fact that the country had no shortages of fertilisers during the global COVID lockdowns. ‘‘Today, I am pleased to hear your assurances that we will not have any shortages in Nigeria because of the Eastern European conflicts that have impacted the global fertiliser trade. All these trends indicate our backward integration policy was the right policy.’’ Appreciating those who have invested and continue to invest in the sector, the president said: ‘‘through these investments, you are

double blessed as you are making profits and bringing prosperity to millions of Nigerians working in the agricultural value chain.’’ Earlier in his remarks, Emefiele, said fertiliser remained a key input to achieving food security and in realisation of this, the apex bank has continued to place great importance on its availability and accessibility by farmers to improve yield, productivity and ultimately, output. Highlighting some CBN’s interventions, including the Real Sector Support Facility, Commercial Agriculture Credit Scheme, National Food Security Programme and the Presidential Fertiliser Initiative (PFI), Emefiele said a total of over N114.09

billion had been disbursed to support the fertiliser industry in the last five years. He explained that the interventions were long-term loans at concessionary interest rates to support domestic blending and distribution across the country. Given the massive funding support received by FEPSAN members from the CBN, Emefiele announced that the bank was working with majors in the industry, such as Dangote and Indorama, to ensure that they sell Urea at discounted prices to the blending plants to ensure that the prices of fertiliser are moderated in the market. Continued Online

digital currencies used by financial institutions that have accounts with central banks,” the report noted. There has been an increase in wholesale pilots in recent years though, analysts said. China became the first major economy to pilot a retail CBDC in 2020 with the digital yuan. The pilot is running in 12 cities as of March 2022. The Sand Dollar, issued by the Central Bank of the Bahamas as legal tender in October 2020, was the first retail project of its kind. Nigeria’s central bank launched the first CBDC in Africa, the eNaira, shortly afterwards. On the wholesale side, PwC ranked the combined effort from the Hong Kong Monetary Authority and the Bank of Thailand to launch mBridge as the top product. The central banks are working to develop a proof-of-concept prototype to enable real-time, cross-border foreign exchange payments on distributed ledger technology. Other top projects include efforts by Canada, Singapore, France and South Africa. “Wholesale CBDCs have the potential to streamline security token post-trade operations through atomic delivery-versus-payment and increase the market efficiency

for several asset classes,” said PwC France and Maghreb Financial Services Risk and Blockchain Partner, Benoit Sureau. PwC analysts for the first time included a stablecoin overview in the annual CBDC index report, noting that privately issued tokens will continue to evolve and exist alongside CBDCs. Stablecoins reached a market capitalization of around $190 billion in early 2022 and will continue to grow as the tokens offer many of the same benefits as a CBDC without the surveillance that comes with a government-issued currency, the report noted. Transparency around reserve assets, particularly for stablecoins that are backed with fiat currency, will be a major concern going forward, though, as the asset class continues to grow and regulation ramps up, analysts added. “The role of the stablecoin in the crypto markets has and will continue to evolve as adoption of crypto increases, forcing a more prominent role of stablecoins across the larger financial ecosystem. “Regulation will only strengthen the importance and give credence to the role that stablecoins will play,” said Matt Blumenfeld, director and digital asset specialist at PwC.

Aid Groups: Nigeria, Other West African Countries Facing Worst Food Crisis in 10 Years Ndubuisi Francis in Abuja International aid agencies yesterday raised the alarm that the West African sub-region was currently facing its worst food crisis in a decade, with 27 million people currently going hungry. In a damning statement, 11 major international organisations including Oxfam, ALIMA and Save the Children, among others, warned that the figure could even rise to 38 million by June. The global aid groups warned that unless urgent action is taken, the increase would mark “a new historic level” and an increase by more than a third during last year. The alert came a day ahead of a virtual conference on the food and nutrition crisis in the Sahel and Lake Chad. A recent report jointly anchored by the Food and Agricultural

Organisation (FAO) and the World Food Programme (WFP) had also warned that acute food insecurity was likely to deteriorate further in Nigeria and 19 other countries, particularly between February and May 2022. The reality of hunger is also increasingly manifesting across parts of the continent. President of the African Development Bank (AfDB), Dr. Akinwumi Adesina estimates that about 250 million Africans live on an empty stomach daily. According to him, hunger has become a way of life on the continent, adding that food systems across the continent were failing to deliver diets that are healthy, affordable, secure and safe for vast swathes of its population. Since 2015, the number of people in need of emergency food assistance in the West African sub-region – which includes Burkina Faso, Niger,

Chad, Mali, and Nigeria – has nearly quadrupled, jumping from seven to 27 million. Oxfam’s Regional Director for West and Central Africa, Assalama Dawalack Sidi said the situation had been worsened by drought, floods, conflict, and the economic impacts of COVID-19, which have displaced millions and is “pushing them to the brink.” “There is not enough food, let alone food that is nutritious enough for children. We must help them urgently because their health, their future and even their lives are at risk,” stressed Save the Children’s Director for West and Central Africa, Philippe Adapoe. The United Nations has estimated that 6.3 million children aged 6-59 months will be acutely malnourished this year, an increase of almost 30 per cent from 2021. With food increasingly scarce,

families’ food sources, especially in the central Sahel, and families increasingly being forced to sell their assets, further jeopardising their productive capacity and the future of their children. To add to the already dire situation, experts have predicted that Russia’s invasion of Ukraine could push food prices up to 20 per cent worldwide, “an unbearable increase for an already fragile population”. The conflict will likely significantly reduce the availability of wheat in the six West African countries, which import at least a third or even as much as half of their consumption volumes from the conflicting countries. While the crisis has shown no sign of abating during the past decade, international donations are drastically reducing. Last year, the humanitarian response plan for West Africa failed to reach half of its scope.

WEDNESDAY APRIL 6, 2022 • T H I S D AY

WEDNESDAY, ;˜ ͺ͸ͺͺ ˾ T H I S D AY

TEN WORSENING INSECURITY: AGAIN, SENATE ASKS BUHARI TO DECLARE WAR ON TERRORISTS mishap. Delta State Governor, Senator Ifeanyi Okowa, added his voice to the calls for drastic steps to address insecurity. Okowa spoke yesterday in Abekuta during a private visit to former President Olusegun Obasanjo. The governor said Nigeria was deeply troubled and needed the help of stakeholders to pull it back from the brink. The senate noted with concern that the criminals engaged in massive killings and wanton destruction of property in Niger State, in particular, and Nigeria, in general. It directed the National Emergency Management Agency (NEMA) to provide relief materials and medical teams to the surviving victims. The resolutions of the senate were sequel to a motion, titled, “Recent Bandit attack in Guni, Munyan Local Government Area of Niger State, resulting to Boat Mishap.” The All Progressives Congress (APC) senator for Niger East, Senator Sani Musa, sponsored the motion. Musa came under Order 42 of the Senate Standing Order, as amended. He said, “The Senate notes that a boat conveying residents of Guni town capsized in GuniZumba River, killing about 20 persons escaping attacks by bandits in Niger State; notes also that the victims, including women and children from Guni in Munyan Local Government Area, were said to have lost their lives on Wednesday morning. “Observes that the incident comes amid attacks by gunmen across communities in Niger State, which has resulted in killings, abductions, and

displacement of scores of residents; observes also that the incident occurred when bandits simultaneously invaded the two communities, forcing the locals to flee; “Worried that the attacks by armed groups have continued in the North-west and Northcentral Niger State, despite repeated government assurance to address the escalating atrocities; and “Worried also that these unscrupulous elements have continued to issue statements via radio and people, security agencies, as well as the government, are all aware of their threats and nothing is being done.” In Abeokuta, Okowa said Nigeria was extremely troubled and needed the support of stakeholders to pull it back from the precipice. According to a statement signed by Special Assistant (Media) to Obasanjo, Mr. Kehinde Akinyemi, the governor noted that the troubled state of the country could destroy the economy, with unsavoury consequences for the citizens. The statement said Okowa stressed the need for all citizens and well-meaning stakeholders to come together to think Nigeria first. He said the security situation in the country was threatening the fabric of its unity, “and not something we have to play with." Okowa said, "The situation is getting worrisome and it's time we all have hands on deck to be able to find solution. "As it stands today, the APC-run government cannot alone deal with the situation and they need to find wide and a far-reaching consultation, not

with those in government alone, but all stakeholders, particularly those who have been part of running this country before and now, including even religious leaders.” Okowa said Obasanjo and other former leaders and all stakeholders, including the country's traditional rulers, needed to be consulted to find a lasting solution to the insecurity and economic situation troubling the country. He said consultation was necessary because the situation of the country was getting messier on a daily basis. The governor described Obasanjo "as someone who truly understands Nigeria, saying Nigerians should be thanking God for having somebody like him. "We need to tap from him, especially at a time like this, which will help to shape this nation. And I thanked God for the wonderful discussions that I had with him," he said. On his next steps after 2023, Okowa said he was yet to make up his mind on whether to contest the presidential election, saying, "Finding solution to the nation's problem was more important than the presidential race for him. "As at today, I have not made up my mind. The important thing is not about myself, it is about the nation, Nigeria. The future of hope. “What level of consensus can we build in order to achieve our dream? Our dream is to see Nigeria begin to have an improvement in our security and in the level of the economy. These are things we have not achieved at the moment.

FINALLY, PDP DITCHES ZONING, THROWS PRESIDENTIAL TICKET OPEN Ortom, said, "We have just finished our meeting. After we rose from our meeting last week, today we decided that we would meet and by the Grace of God we have unanimously adopted a position that will be sent to the NEC of our party that appointed us. "The good news for our teaming supporters of the PDP and Nigerians is that we have resolved and every one of us, the 37 members, unanimously adopted the position that we are going to present to NEC." However, a copy of the recommendations by the zoning committee obtained by THISDAY stated: “(1) Zoning, as in our party constitution, is affirmed. “(2) In spite of (1) above, the ticket is thrown open, this time around due to exigency of time. “(3) Our party is encouraged to always make the issue of zoning very clear at least six months before sales of forms. “(4) Our party should commend the efforts of some of our contestants on the issue of consensus candidacy; the efforts should be seen to a peaceful and logical conclusion." No date has been fixed for a meeting of the National Executive Committee (NEC) of the party. Reliable sources also told THISDAY that former governor of Jigawa State, Sule Lamido, Kawo Baraje, and Senator Abdul Ningi favoured the zoning of the presidential ticket to the north. A source said the three of them argued separately that the best decision for the committee was to zone the presidential ticket to the north. Alternatively, they said, in the interest of fair play and transparency, the ticket should be thrown open to all the 13 aspirants that had purchased the presidential forms. It was also learnt that they argued that the PDP ticket since 1999 had been in the southern part of the country, where former President Olusegun Obasanjo had it for eight years, followed by the late President Umaru Musa

Yar’Adua, from the north, who died in office about three years into his tenure. Former President Goodluck Jonathan, from the south, held office from May 5, 2010 to May 29, 2015. In the 22 years of return to democracy, the north has held the presidency for barely three years under the PDP. Other from the north spoke in the same vein, insisting that for fairness, the ticket should be zoned to the northern part of the country. But some argued that it would be in the overall interest of the PDP to throw the presidential ticket open to all the contestants. They believed it would be unfair to allow all the aspirants to pay and obtain the presidential forms and, then, exclude some later. However, members of the committee from the south argued that prior to the 2019 presidential election, the Senator Ike Ekweremadu committee had officially announced the zoning of the PDP presidential candidate to the north. They argued that it was on the basis of the zoning arrangement that Atiku, Tambuwal, Saraki and others contested and there was no single southerner that contested in the Port Harcourt presidential convention. THISDAY learnt that members of the committee from the South-west had during the heated argument called for an open contest, saying it is too late to zone the presidential ticket. Sources said the South-west members contended that zoning the presidential ticket at this time could be counter-productive, as it was late to do so It was gathered that in the coming days, the PDP National Working Committee (NWC) would summon an emergency meeting to discuss the recommendations of the zoning committee. Political allies of former Vice President Atiku Abubakar, Senator Abdul Ningi and Adamu Waziri; ally of Bukola Saraki, who was National Secretary of PDP, Kawu Baraje; and former governor of Sokoto State, Attahiru Bafarawa,

were all joyous after the meeting. On the other hand, governor of Enugu State, Mr. Ifeanyi Ugwuanyi, who was a member of the zoning committee, was moody after the meeting. Also, former governor of Ekiti State, Ayo Fayose, it was learnt, opted out of the committee’s meeting, saying he wants to contest the presidential ticket of the party. Fayose said it would be unfair to be in the meeting while also interested in the contest. Meanwhile, Tambuwal, who is a presidential aspirant under the party, is set to meet the PDP Senate and House of Representatives caucus as part of his consultation.

"The country is so stressed. There is so much stress in the land, so much unemployment, so much inflation and, unfortunately, the things that unite us are badly threatened and we cannot even be sure of tomorrow. These are the things we must discuss. "We must all come together to stop this drift at the moment, that is the type of things we should be more concerned about."

Governors, Speakers Meet Friday over Insecurity, Other National Issues

Worried by the rising insecurity and tension across the country, governors of the 36 state of the federation and speakers of the Houses of Assembly have fixed an emergency meeting in Abuja on Friday. The meeting aims to discuss insecurity and other issues of national importance. Head, Media and Public Affairs, at the Nigeria Governors Forum (NGF), Mr. Abdulrazaque Bello-Barkindo, disclosed this yesterday in Abuja. Bello-Barkindo said participants would brainstorm to find urgent solutions to pertinent issues of national importance. “It is expected that executivelegislature harmony would occupy the minds of the 72 people in attendance,” Bello-Barkindo quoted the NGF Director-General, Mr. Asishana Okauru, as saying.

LCCI Tasks FG to Halt Descent into Lawlessness, Anarchy

Lagos Chamber of Commerce and Industry (LCCI) called on President Muhammadu Buhari to convene a National Council of State meeting that would deliberate on the rising wave of insecurity in the country and its implications for Nigeria’s democracy and economy. LCCI stated that the security challenges were, “spiralling into general lawlessness and anarchy”. It called on the federal and state governments to expedite actions to restore peace, law, and order in the country before the full-scale launch of political campaigns for the 2023 general election. It warned that if Nigeria failed to “commit to a new order and a more enabled and innovative

security architecture, soon, security will suffer a heavier blow once politics takes centre stage in governance,” LCC1 said, “The major challenge waiting for the incoming Nigerian president (likely a civilian) will be to resolve the security crisis. Still, first, we must restore and preserve law and order in Nigeria today for us to be able to hold the elections next year.” These views were contained in a statement issued by the President of LCCI, Dr. Michael Olawale-Cole, on the, “worsening security challenges,” in which the chamber expressed serious concern that the current wave of insecurity in the country is having a telling impact on businesses and the Nigerian economy, adding that the trend is an apparent threat to the country’s forthcoming general elections in 2023 and its democracy.” Olawale-Cole stated that it would be challenging to hold credible, free, and fair elections that would reflect the choices of the electorate in the face of rising insecurity in the country. He described the terrorists’ attacks on the Kaduna airport and the Kaduna-Abuja-bound train last month as “frightening and increasingly threatening to the well-being of Nigerians.” Olawale-Cole said, “Also, the Global Conflict Tracker hosted by the United States Council on Foreign Relations recorded that attacks by bandits across the North-west have claimed at least 5,000 lives since 2018. Since 2009, nearly 350,000 people have been killed in the Northeastern part of the country due largely to the activities of Boko Haram Islamist insurgents. The number of displaced people in the Lake Chad Basin is about three million. “Insecurity in Nigeria is multidimensional and pervasive, ranging from armed banditry, kidnapping, attacks on state infrastructure, perennial herderfarmer clashes to gang violence, attacks on police stations, prisons, airports, and power transformers, inter-communal violence, ritual killings, mob justice, and casual intimidation of ordinary citizens by the law enforcement agents.” The chamber also described

what was currently going on in the South-south region, as, “an economic war as the government struggles to maintain the peace required to achieve optimal crude oil exploration for foreign exchange earnings. Nigeria earns about 80 per cent of its foreign exchange earnings from the oil and gas sector. “There are political agitations in the South-east, secessionist agitations in the South-west. Today, we have terrorism, banditry, and kidnapping in the northern part that have taken frightening dimensions and colorations.” The LCCI recommended, “Nigeria needs a surveillance infrastructure that is monitored in real-time to respond to emergencies and foil planned crimes. This calls for more technology deployment to gather intelligence, provide 24/7 responsive surveillance, and track persons’ movements and activities, especially in already troubled areas.” It also identified youth unemployment as a critical factor fueling insecurity in Nigeria. The latest data from the National Bureau of Statistics (NBS) showed that youth unemployment is at 42.5 per cent and youth underemployment at 21 per cent. “This is a driving factor for the insecurity crises in Nigeria. We need more jobs to engage our youths productively,” the chamber said. The LCCI stated that Nigeria must tackle gun control crisis, where unauthorised and unidentified people possess firearms without strict control. The chamber said, “It is estimated that more than six million small arms are in the hands of civilian non-state actors. “Drug abuse by our youth must be curtailed, and drug traffickers adequately prosecuted and punished as a deterrent. “The huge amount of N2.41 trillion earmarked for the defence and security sector in the 2022 budget might have reflected the government’s commitment to resolving security challenges. We, however, need to be prudent with spending and put in place checks to prevent the diversion of funds to other uses like sponsoring political activities.”

ONCE AGAIN, TERRORISTS STRIKE KADUNA, ATTACK MILITARY CAMP, KILL 15 SOLDIERS, THREE CIVILIANS Baba; and the Director General of the Department of State Services, Yusuf Bichi, over the recent terrorists’ attack on Kaduna airport and train. This is as the Kaduna State Governor, Malam Nasir el-Rufai, has said Nigeria was currently at a critical crossroads and that the people must elect the right leaders in 2023 to take the country to the next level. In the same breath, presidential hopeful and one of the national leaders of the All Progressives Congress (APC), Bola Ahmed Tinubu, said an attack on one Nigerian was an attack on all Nigerians. However, yesterday’s attack came a week after a commercial train was bombed in Kaduna, killing eight passengers, injured 26 while scores other passengers remained unaccounted for. The terrorists, who were said to be traveling from Niger State to Zamfara in large numbers via Birnin Gwari, reportedly launched a deadly attack on the military camp. Sources in Birnin Gwari, who confirmed the incident in a telephone chat, said the attack occurred at about 5pm on Monday, and that the terrorists, who were carrying sophisticated weapons, engaged the soldiers in a fierce gun battle at the camp. The said the terrorists might have overpowered the soldiers due to their large numbers and went on to burn a military armoured

tank at the camp. “The attack took place at a military camp at Poll Wire at about 5pm on Monday. They were in large numbers. They took more than an hour passing through the Kaduna highway. They were on their way from Niger State to Zamfara state. “They over powered the soldiers after a fierce gun battle probably because of their large numbers and the kind of weapons they carried. One of the military armoured tanks was burnt. “I am not in a position to confirm how many soldiers were killed, but information available to me said that 15 soldiers and three civilians were killed. Two of the civilians are members of a vigilante group while one was a traveller. “You can contact the military authorities to confirm the figures. The attack lasted for hours. These people were many and they have very sophisticated weapons. How do you expect maybe about 40 or 60 or even less soldiers manning a camp to face terrorists numbering about 100 or 200 and carrying deadly weapons?” Spokesman of the Kaduna State Police Command, Mohammed Jalige, did not respond to calls when contacted. However, the spokesman at Defence Headquarters, Maj Gen Jimmy Akpor, confirmed the attack but said he was still awaiting further details.

Also, the Director, Directorate of Defence Media Operations (DDMO), Maj Gen Bernard Onyeuko, confirmed the development and spoke in the same vein. Lawmakers Meet Service Chiefs, IG, Ministers Behind Closed Doors However, at the resumed meeting of security stakeholders with the House of Representatives, the Speaker, Hon. Femi Gbajabiamila, who presided over the session, said the House was hoping to explore other options to tackle insecurity in Nigeria. Some identified government officials had last week shunned the invitation of the House at its last hearing. Deputy Speaker, Hon. Idris Wase, who presided at the session, refused to allow the representatives to speak on behalf of their principals and bemoaned their absence, which compelled an adjournment. Speaking on behalf of the Service Chiefs, Chief of Defence Staff, Gen. Lucky Irabor, expressed readiness to answer questions from the lawmakers and said, "We are ready to answer the questions you have for us to proffer solutions to Defence and security issues across the country." Thereafter, Gbajabiamila moved that the meeting be held behind closed doors and journalists were asked to leave the room. Addressing journalists five hours later, Gbajabiamila said they made good headway in their discussion but couldn't

disclose what was discussed as security matters were not for public consumption. "We had an extensive deliberation. A lot of the issues were discussed there. Unfortunately, as defence matters, they were not things for public consumption. But I can assure you that there was a lot of collaboration. All ideas came together in terms of how our security agencies can work together and speak together in one voice as opposed to different voices. “Talking about the all-important issue of whether or not there are elements within the military itself that we need to deal with – issues of moles like some have stated. We talked about training and retraining, issues of capacity and allowances. We talked about several things, a lot of them like I said touched on security. “I am not at liberty at this point, but for us to have been in there for 4 to 5 hours, you must know that we made some good head way and extensive decisions were made. I am not happy going into the meeting, but I am happy coming out," the Speaker said.

El-Rufai: Nigeria at Crossroads, We Must Get Leadership Right in 2023

Governor Nasir el-Rufai of Kaduna State, yesterday, concluded that Nigeria was at the moment at a critical crossroads, but that Continued on page 50

WEDNESDAY APRIL 6, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

MIDWEEKPOLITICS

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

PDP, APC in Final Push for the Soul of Benue State George Okoh examines the chances of the two major political parties, the Peoples Democratic Party and the All Progressives Congress as they struggle for the governorship position in Benue State in the impending national elections

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Aondoakaa

PDP government in the state, the acceptability of the contestants, what fresh ideas those intending to contest are bringing on board, the zoning equation and financial war chest to prosecute a capital intensive contest. Already analysts have viewed the avalanche of aspirants seeking the position as unhealthy. Also many aspirants are seen as people who just want to run for some peculiar gains. In order to prune the over 30 aspirants who have indicated interest to run within the PDP, the Benue state Governor Samuel Ortom, along with the party stakeholders instituted a pruning committee led by the elders of the party to reduce it’s aspirant. So far the committee made up of the two political group,the G14 and the G9 have reduced the number of aspirants within the PDP to five.Each of the five was picked from zones that have not produced a governor for the state. Those selected were Professor Denis Ityavyer (Vandeikya), Mr

s count down to who emerges as successor to Governor Samuel Ortom of Benue state gains momentum and with the release of time table by the Independent National Electoral Commission (INEC),the jostle for who occupies Benue Government House is in full swing. Many aspirants for the position have started to purchase the governorship nomination forms to vie for the position. The 2023 election is viewed by pundits to be the mother of all contest. Over sixty aspirants have made their intentions known to there political parties and have been going around consulting with relevant stakeholders. As it stands, the People Democratic Party (PDP) and the All Progressive Congress (APC) lead the way in what will be a fierce contest to succeed Ortom in 2023. Ortom,who is status barred from contesting for the position having had two terms in office will vacate the position in 2023. Many pundits have suggested that a new governor will emerge from one of the two strongest parties in the state. It is also believed that many factors will contribute to who succeeds Ortom in 2023.Some of the factors include the success or failure of the Ortom-led

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Gemade

Julius Atorough (Konshisha),Terwase Orbunde (Kwande), Dr Paul Orhii (Ushongo) and the Deputy Governor of Benue state Benson Abounu,who was unanimously picked from the Benue South Senatorial zone. The party on Thursday at a Special Stakeholders meeting zoned the ticket in the Tiv speaking area to Vandeikya Local Government Area. According to the Spokesman of the PDP Mr Bemgba Iortyom,the party having arrived at a consensus candidate in the Idoma speaking area in the person of incumbent Deputy Governor, Benson Abounu at an earlier similar meeting last Sunday,has also cleared Vandeikya to contest the position. He said “Deliberations at last night’s meeting involved the party’s top leadership including Their Excellencies, Governor Samuel Ortom PDP National Chairman, Dr. Iyorchia Ayu, Senator Gabriel Suswam and BoT member, Chief Mrs. Margaret Icheen as well as members of the House of Representatives and a Special Ad-hoc Committee headed by the party’s State Deputy Chairman, Hon. Isaac Mffo, received the mandate at the meeting to firstly deliberate and arrive at a zoning of the governorship ticket between the Kwande and Jechira intermediate

areas of Tiv land following which Jechira was favoured on grounds of equity, inclusiveness and fairness. “The Isaac Mffo led Ad- hoc Committee was further mandated to deliberate on a zoning of the ticket between Vandeikya and Konshisha local government areas which comprise the Jechira bloc following which Vandeikya got the nod for the same reasons of equity, inclusiveness and fairness earlier adduced in favour of Jechira against Kwande” He also disclosed that Thursday, 7th April, 2022 has been slated as date for the adoption of a consensus candidate from Vandeakya for the party’s Governorship ticket in the Tiv speaking area. At the meeting governor Ortom expressed satisfaction with the process, stating that PDP in the state has opted for a pruning down of the number of aspirants in the race to avoid unnecessary expenditure on the aspirants while creating synergy within the party as it heads to the general elections next year. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Doherty: We Can’t Afford to Leave the Nation to the Political Class Alone As Nigeria prepares for the 2023 general election, the Managing Director of Pensions Alliance Limited, Mr. Funso Doherty tells Segun James and Funmi Ogundare that professionals have critical roles to play in the political and economic fortune of the country

olitical life really began for Mr Funsho Doherty after a deep assessment of the quality of representation available in the political field for Nigerians. For him there are people out there, professionals, intellectuals, technocrats and highly educated individuals who can make the change the nation needs at this critical point in its history. Before now, Doherty never cared much about politics. He was thorough professional and technocrat working in the private sector and building his career. He watched as low endowed people determined the political and economic direction and future of the nation, while people like him who are committed to the development of the country and the people watched helplessly. Recently, the political reality and dire situation of the country and its economy dawned on him. He has since been forced to make a move. To some, it might be a rude awakening, but to the very discerning like Doherty, it is the start of a movement to take over the political soul of the nation from those that are mismanaging it and put it in the hands of those who love it and can manage it for the benefit of all. By 2015, it was clear that Nigeria had serious problems. This vast country of contrasting landscape and diverse people had become divided, especially along ethnic and religious lines, a situation which sharply affects the economy, the real binding string among the people. He lamented that this was a rapid reversal of fortune over the preceding decades, because the

Doherty country is suddenly experiencing the highlights of vulnerability of developing economies which has refused to diversify or fail to manage its natural resources-the hallmark of most third world countries. Doherty insisted that the country is not on the right track. Its economy was not diversified and was not generating business that will attract foreign investment. With this in mind, he wants professionals like him and other eggheads to come into politics,

participate in it and help direct the future of the nation. To him, the situation in the country right now is dire because, the political and economic direction of the nation is left in the hands of rouge elements. Mr. Funso Doherty is a professional with a distinguished record spanning more than 25 years. He is the Managing Director and Chief Executive Officer ( CEO) of Pensions Alliance Limited (PAL Pensions) one of Nigeria’s foremost Pension Fund Managers where he leads a nationwide team overseeing a large portfolio of assets. He recently held an interactive session tagged ,’ State of the Nation’, with select politics editors drawn from various media houses. It was aimed at building awareness on the issues confronting the country as it prepares for the 2023 elections. He is however, not proud about the quality of leadership in Nigeria saying that the country ought to have a critical mass of people in leadership who should drive the right outcome. He listed some of the metrics for measuring the quality of a nation to include; quality education, health care, low rate of inflation, quality of life of the people, resources, among others, saying that with these, there is nothing to be proud of in Nigeria. He compared Nigeria to Singapore and other developed countries asking if they are smarter and better endowed in terms of resources. Doherty asked,” Why is it that Nigeria has been faced with a shortage of leadership? What would we say we have gained in the past 25

years since we have had a democratic elected leadership? Doherty expressed concern about the type of leadership being practiced describing it as ‘money politics’, adding that it is used to buy votes from people. According to him,” when you look at it, it becomes a commercial/criminal enterprise. When you look at the process over the years, people have felt that their votes will not count and their lives will not change.” He listed some of the ways that will change the polity for the better to include; ensuring that votes count, ensuring credible alternatives that must represent the interest of the people, changing the psyche of the electorates by giving them something to hope for, as well as awakening the youths. Doherty who was the pioneer Managing Director and CEO of ARM Pension Managers described public office as a trust saying that a lot of people run away from it because it is rough. He also described democracy in Nigeria as ‘government of the people, by the people for themselves’, saying that journalists have a critical role to play to shape minds and demand for the best and high standard in the country. Doherty insists that the next few months and years promises to be very exciting. He urged the professionals and the intellectuals to move into politics to help influence policies and help implement them, saying that unless this is done, Nigeria’s future will be jeopardized.

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

POLITICS

2023: Contestants Gear Up for Senatorial Battle in Imo

The race for the 2023 general election is gathering momentum. In Imo State, interested political juggernauts who want to represent their respective senatorial districts are busy engaging stakeholders at the level of their political parties, writes Amby Uneze.

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Chukwueke

t is natural for politicians especially aspirants for various elective positions to file out and market their personalities usually through presentation of fantastic credentials and manifesto. They do all these to convince their party members and the general public on why they should represent them at different elective positions.. In addition their cronies and lackeys would do everything possible to shore up the credential and image of their respective aspirant. It is at this level of marketing one’s aspirant that their hangers-on fight and create a more damaging picture and engage in some unprintable things in an effort to hoodwink the people on the qualities of their principal. In Imo State, many of such political gladiators have lined up in trying to become the beautiful bride that are mostly wanted by their grooms. While some are warming up for State House of Assembly and House of Representatives, the big men in their midst are polishing their images and updating their credentials to run for the senate. A few incumbents who want to go back and had remained incommunicado over the past three years have now found love to come down to beg their constituents to allow them go back since they would be ranking members and possibly principal officers. That is why, the Bible in Ecclesiastics 3: 1-8 states that

there is time for everything. Maybe those legislators felt that once they are sent to represent their people, there may not be a time to review their achievements. Those who are warming up to replace the incumbent, history has shown that they may still do the same over and over again. In all, it has been the electorate, the constituents who have been at the receiving end. Politicians would come during electioneering and promise all sorts of things but once they are elected, they usually turn their back against those who sent them. When a politician who has the interest of his people at heart is elected in the political system, definitely the results would be there for all to see. Such representative does not wait until it is another election time for him/her to explain or convince the people to demand their votes to go back. It is pertinent in this brief to present some of those who are getting ready to seek nomination from their various political parties to serve their respective

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Ezeani

senatorial districts in Imo State in the 2023 general election.

indeed a courageous voice.

Senator Ezenwa Francis Onyewuchi – PDP Owerri zone He is the incumbent senator representing Imo East, otherwise known as Owerri zone in the Red Chamber. Onyewuchi before his election into the senate in 2019, was a ranking member of the House of Representatives, having represented Owerri federal constituency for two terms (2011 and 2015) respectively. He is armed with experience, effectiveness and above all the only member that would have the opportunity to grab a principal position if he goes back. Hon. Uche Onyeagocha – PDP Owerri zone When it comes to outspokenness and vibrancy, Hon. Uche Onyeagocha takes his rightful position. A former member of the House of Representatives that represented Owerri federal constituency in 2003 having being the first All Progressives Grand Alliance (APGA) in the Green Chamber. Onyeagocha had contested several elective positions including governorship in the past until he was appointed the Secretary to the State Government under the Rt. Hon. Emeka Ihedioha’s short-lived administration. He is

Chief Basil Maduka – PDP Owerri Zone Chief Basil Maduka is relatively an unknown figure in Imo State politics. He can be described as a green horn. However, from his abridged curriculum vitae, Maduka seems to possess the requisite credentials that would give him an edge in his aspiration. He is a businessman and ensures he would attract business into politics in order to give effective representation. Prince Alex Mbata – APC Owerri Zone Prince Alex Mbata otherwise called PAM is a game changer in Imo politics especially the Owerri zone. Initially he was rumoured to be warming up for governorship until he cleared the air that his mission in the state was to join hands with the State Governor, Senator Hope Uzodimma to bring the desired security and development to the state. Recently he had an empowerment programme where about 3000 indigent people of Owerri zone were given equipment to start up business through his PAM Humanitarian Foundation. He is a force in the game. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

2023: Abiodun Holds the Ace in Ogun APC With the formal recognition of the Dapo Abiodun-led group by the National Secretariat of the All Progressives Congress, the governor, holds the party structure ahead of the 2023 national elections, writes James Sowole

he March 11, 2022 inauguration of the State Working Committee (SWC) of the ruling All Progressive Congress (APC), Ogun State, by the Chairman, Chief Yemi Sanusi, marked the end of doubts and apprehension over the control of the party,’s structure in the state. The event, which was a follow-up to the February 3, 2022 presentation of Certificates of Return to 34 state chairmen of the APC by the Interim National Secretary of Caretaker/ Extraordinary Convention Planning Committee (CECPC), John Akpanudoedehe, at the party’s National Secretariat in Abuja. The Abuja event, was in confirmation of the declaration by Akpanudoedehe, in the wake of reported parallel congresses of APC in some states, including Ogun State, that the party, would only recognise results of the Congress, supervised by the Congress Committee, deployed by the National Headquarters of the party. Prior to the presentation of the Certificate of Return to Sanusi in Abuja, there were anxieties and apprehension, among leaders and members of the APC in Ogun State, on which Congress results will the National Secretariat accepted, despite the declaration by the Interim National Secretary, that had earlier, paved the way, for the Sanusi, who was elected by the Wale Ohu led Congress Committee. The reason for the apprehension, was the fact that the Abdullahi Adamu led Reconciliation Committee, which met separately with the Governor Dapo Abiodun’s group and Senator Ibikunle Amosun’s group, which produced,

Abiodun Chief Derin Adebiyi as State Chairman, did not made its report and recommendations, available to the party members, in Ogun State. So, on the day of the presentation of Certificates of Returns to elected APC chairmen, the two sides mobilised their followers to Abuja for the ceremony. To event watchers, the main reason for the struggle on who controls the party structure in the state, is the forthcoming 2023 Election in the state because the primary of any party, is usually determined

by the person and the group that is in control of the structure. It was therefore, expedient on the Ogun APC State Chairman, that inaugurated other 19 members of the SWC, when he charged them to to brace up for the challenges ahead of the party in the state. Sanusi charged the SWC members to be more committed, to the unity of the party as political activities gather momentum in build up to the 2023 General Election He said, “I appreciate His Excellency, Governor Dapo Abiodun for the support he has been giving day and night to members of state exco of our great party. “After today’s inauguration of the state exco members, we must all ready to wear our leadership gown and work very hard to lift this party to victory in 2023. “Let us all shun factionalism and blueprint that can divide our party, we must show leadership quality, we must display maturity and tolerance to carry everybody along so that we can build a united party that can face the challenges ahead of us. “This is a call to service, we must be very serious, we know the situation of the party in Ogun State and we must be ready to carry everybody along so that we can have a united front that can confront the General Election in 2023.” With all these processes, which were in favour of the Abiodun led group, relief has come the way of the governor, who like his predecessors, is expected to seek another term of four years

in office. Also, signs that Abiodun’s group holds the party’s structure and which may make his path, to securing his party’s ticket for 2023 Election, was informed by the prominent role, he was assigned, as the APC prepares for its National Convention. For Abiodun like many of his counterparts in the country, the road to the Government House in 2019, was never a smooth one, partly, because he never enjoyed the cooperation of his predecessor, Ibikunle Amosun, who sponsored a candidate from another party, even after he (Abiodun), had emerged as the APC candidate, the same party under which umbrella, Amosun, contested the Senatorial Election. Considering the support that the governor received from some leaders of the party including two former governors of the state, Chief Olusegun Osoba and Chief Gbenga Daniel among other leaders, Abiodun, in the spirit of Omoluwabi ethos, on assumption of office, accorded them respect and which was one of the reasons that made them special guests at notable state functions. In the spirit of inclusive governance, Abiodun also embraced some followers of his opposition during election in his administration either by appointing them into political positions or through patronage. That Abiodun, therefore, was forging ahead of his detractors politically, was not because he performed magic, it was outcome of deliberate act of inclusiveness in approach to governance and demonstration of Omoluwabi ethos.

WEDNESDAY APRIL 6, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, APRIL 6, 2022

BUSINESSWORLD R A T E S MONEY MARKET

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

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At 6.03% Decline, Insurance Emerges Worst NGX Performing Sector in Three Months

Kayode Tokede As the Nigerian Exchange Limited (NGX) gained 9.95 per cent or N3.02trillion in first three months of 2022, indicator revealed that the NGX insurance index depreciated by 6.03per cent or N9.06 billion to emerged as one of the worst performing indices on the bourse. On the flipside, data gathered from the NGX revealed that the

NGX Oil & gas gained 27.7 per cent to outshine other indices on the exchange. THISDAY had reported that the NGX All-Share Index or ASI went up by 6.03 per cent to close at 186.16 basis points from 198.11 basis points it opened in 2022 The mainboard of the NGX has 22 insurance companies with profit-taking by investors in heavyweights such as NEM Insurance

Plc, Coronation Insurance Plc, African Alliance Insurance Plc, and Mutual Benefits Assurance Plc stocks affecteting the index performances in the period under review. The likes of Cornerstone Insurance Plc, Axa mansard Insurance Plc were the only stocks that appreciated in the months under review, as African Alliance Insurance Plc Goldlink Insurance Plc, Guinea Insurance Plc., International Energy Insurance Plc,

Niger Insurance Plc, Staco Insurance Plc, Standard Alliance Insurance Plc, Universal Insurance Plc and Veritas Kapital Assurance Plc traded flat. Despite weak corporate earnings, investors on the Exchange reacted to AXA Mansard dividend payout in 2021 financial year. Despite recording a decline of 17 per cent in profit to N3.7billion from N4.5billion reported in 2020, AXA Mansard Insurance declared a

dividend of 25k per N2.00k ordinary share. Further analysis revealed that NEM Insurance despite declaring a decline of 12 per cent drop in profit before tax to N4.53 billion in 2020 from N5.13billion in 2019, announced final dividend of 22 kobo per N1.00 ordinary share. Speaking on the investors ‘profittaking in insurance companies, analyst at PAC Holdings, Mr. Wole

Adeyeye said the decline in most insurance stocks has to do with mixed reactions trading by investors. According to him: “Some investors reacted to the unimpressive financial performances of some listed companies while some engaged in profit-taking activities. “Also, some investors reacted negatively to insurance companies Continued on page 20

FG Moves to Withhold Assent to MDAs’ Budgets over Non-rendition of Accounts James Emejo in Abuja The Executive Secretary/Chief Executive, Financial Reporting Council (FRC) of Nigeria, Mr. Shuaibu Ahmed, has said it is working with the National Assembly and other relevant agencies to make it a rule that the budget proposals of public sector entities in default of filling their Annual Financial Statements (AFS)

of the previous year would not be considered and approved for the coming year. He said in 2021, a total of 120 public institutions comprising of government parastatals, agencies, and government business entities had filed their financial statements with the council, describing it as a modest progress. He spoke at the opening of a 2-day practical learning and development

programme, themed: “Timely Rendition of Financial Statements by Ministries, Departments and Agencies (MDAs),” which was organised by the FRCN in collaboration with the Office of the Accountant General of the Federation (OAGF) and the Association of Chartered Certified Accountants (ACCA). This came as the ACCA Nigeria’s Country Head, Mr. Tom Isibor, said non-rendition of had implications

for Foreign Direct Investment (FDIs) into the country. He said since the COVID-19 outbreak, there had been new demands on public sector organisations and public financial management to improve transparency, accountability and sustainability. He said, “And this is primarily coming from investors – people, individuals, organisations and

governments that want to bring money into the Nigerian economy but they want to see how we manage our public accounts and want to see what our spending pattern is before they feel confident and comfortable to bring money into the economy.” Ahmed, however, said plans had been concluded to further impose fines and penalties on those agencies which had failed to comply with financial regulations in line with the

provisions of the FRC Act and its extant rules. He added that most of the financial statements filed with the council are not in timely manager. The programme seeks to find solutions to all the issues militating timely rendition of audited financial statements among public institutions. The FRCN boss said a situation Continued on page 20

M A R K E T D ATA A S AT T U E S D AY, A P R I L 5 , 2 0 2 2 BILLS

BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

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107.93 5.05 112.18 7.38 111.85 8.90 107.24 10.15 122.70 10.32

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UNCP CP VI 2-MAY-22 NEVE CP I 24-MAY-22 DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22

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CONTRACT TENOR Contract (MONTH) NGUS APR 27 1 2022 NGUS MAY 25 2 2022 NGUS JUN 29 3 2022 NGUS JUL 27 4 2022 NGUS AUG 31 5 2022

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April 01, 2022

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T H I S D AY ˾ WEDNESDAY, APRIL 6, 2022

BUSINESSWORLD

NEWS

C&I Leasing: Growing Shareholders’ Value amid Seamless Transition Nume Ekeghe

C&I Leasing Plc has re-assured its stakeholders that the company is well positioned to improve returns on their investments following a seamless transition from one leadership to another. The Board and Management of C&I Leasing Plc gave the assurance in Lagos when the company hosted some of its key stakeholders founders, board and management, clients, bankers, vendors, financiers, and advisers. At the forum, the company highlighted the seamless transition from the Andrew Otike-Odibi then leadership to now Ugoji Lenin Ugojiled management team. This being the third leadership transition in the Company’s history indicates the strong succession planning structures within the organization. The company at the event introduced the new Chairman of the Board, Dr Samuel Onyishi, who is also the founder of Peace Mass Transit Group (PMTG). He is said to have joined the organization with a view to leveraging on economies of scale opportunities and Industry insight to enhance C & I’s efficiency and market share. At the event, the unity of purpose of the company in continuing the C & I Legacy was clearly showcased as members of the old and new boards/ management actively participated in activities, including the Founder and Vice chairman, Mr. Emeka Ndu, the Previous Board Chairman Chief Henry Okolo and other past Directors like Mr Larry Adenmosu of Custodian & Allied Insurance Plc, who all graced the occasion. The founder and Vice chairman of C&I Leasing Plc- Emeka Ndu, noted that, “We must have an attitude of gratitude. We have evolved over the years and our ability to adapt and transition is what kept us till date. Change is important and permanent, and it positions C&I Leasing Plc for the future. We are trying to reposition the business for the future that will be significantly strengthened to maximize value for stakeholders and investors. The new CEO and his team are capable of the tasks for the future. It is good to blend the old and new but the

new is where we are going.” Alexander Mbakogu, Group Chief Operating Officer and Deputy Group Managing Director, C&I Leasing Plc, told the stakeholders at the event that, “Why we are here this evening is simple - to allow our partners meet our new board and management and bid farewell to our erstwhile managing director, Andrew Otike – Odibi.” In addition, the C&I FOounder’s award was instituted, and the 1st recipient was the immediate past Group Managing Director (GMD), Mr Andrew Otike-Odibi who was recognized same evening for his outstanding services to the company spanning about 23 years. The C&I Leasing group of companies serves its clients through three major divisions; Fleet Management, Outsourcing, and Marine Services with two subsidiaries in Ghana (Leasafric) and the United Arab Emirates (EPIC International FZE). C & I Leasing leveraged the event to review its market space and projected into the future, which is targeted at improving collaboration with other companies to manage risk while ensuring that the brand’s DNA of adaptability is maintained and strengthened so that they are ahead of the challenges. Key global factors being experienced by the Ukraine – Russian war were highlighted at the stakeholders’ event by Managing Director/CEO at Financial Derivatives Company Limited, Bismarck Rewane, with the possible impact on the Nigerian environment and the Leasing business. Rewane’s opinion is that the Leasing business in Nigeria would remain resilient despite the challenges. Group Managing Director/CEO, C&I Leasing Plc, Lenin Ugoji, who acknowledged the recent challenges noted that they also came with opportunities. “For us, we are prepared to ensure we grow shareholders value despite changes in leadership. We are a strong family, stick to us, be flexible with us. There may be challenges but the point is that we are here to stay, “he added. Chairman, Board of Directors of C&I Leasing Plc, Samuel Maduka Onyishi also assured stakeholders on the board and management’s

cooperation in taking the business to higher heights, adding that, “from the records, C&I Leasing Plc does business with many stakeholders and we will need you the stakeholders in order to do more.” He assured all at the event that with the current Board and Management, he wanted to assure them that “C&I Leasing Plc is in safe hands.”

He stated further that, “C&I Leasing Plc that I know is focused and that there are opportunities in C&I Leasing Plc that if we pursue through our subsidiaries, we expect all stakeholders to be happy with the results in future.” He confirmed that C&I Leasing Plc had an experienced management team and that the Company was doing well today and would

continue to do, even better. Speaking as a stakeholder, Group Managing Director/CEO of Cordros Capital Limited, Wale Agbeyangi, confirmed his Company’s association with C&I Leasing Plc for the past 10 years. He expressed his joy at having witnessed three generations of the company’s leadership and looked forward to doing more businesses

with the company in the next 10, 20 and 30 years.” Also speaking, another stakeholder, Chinyere Muda Sanusi of FCMB eulogized the Company as a Pacesetter, which others followed and confirmed that her Bank understood the business of the Company and was willing to support it in its next phase of growth.

L-R: President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Bayo Olugbem; ViceChancellor, Rivers State University,Prof. Nlerum Okogbule; 2nd Vice President, CIBN, Prof. Deji Olanrewaju; Registrar/ CEO, CIBN, Dr. Seye Awojobi; and National Treasurer, CIBN,Mr. Dele Alabi, at the CIBN groundbreaking ceremony of The Bankers Hall, a CIBN legacy project bequeathed to Rivers State University in Port Harcourt… recently

BoI Grows Total Assets to N1.7tn, Targets Additional $6bn Capital Raising The Bank of Industry has announced that it grew its assets from N683 billion in 2016 to N1.7trillion in 2021. It added that having raised about $4 billion in the last four years from over 100 international banks/investors in over 20 countries, it hopes to increase that figure to about $10 billion in order to deepen its intervention in the country. The Managing Director, BOI,

Olukayode Pitan explained that the funds raised over the years improved the bank’s capacity to support Nigeria’s real sector. Speaking during the inauguration of the bank’s second tower in Abuja, Pitan hailed President Muhammadu Buhari for his support in being able to approach the international capital market and conclude various funding transactions.

Some of the transactions according to him, include a $750 million syndicated medium-term loan in 2018, which has now been fully paid; a €1 billion syndicated loan in March 2020; a $1billion syndicated loan in December 2020; and the most recent one, the €750 million Senior Eurobond, the first by any African national DFI in February 2022, whose sovereign guarantee was also

approved by the National Assembly. The Chairman, Board of Directors, BOI, Aliyu Dikko, while delivering his opening remarks, also noted that in the last five years, working alongside its strategic partners, the bank had supported over 3.2m Micro, Small, Mediumscale Enterprises, and created over 7.1m direct and indirect jobs in the process.

He said, “There’s a new demand on transparency, accountability and sustainability around the world and this is primarily coming from investors – people, individuals, organizations and governments that want to bring money into the Nigerian economy but they want to see how we manage our public accounts and want to see what our spending pattern is before they feel confident and comfortable to

bring money into the economy. “And the work you do on daily basis is absolutely critical to delivering that demand… Accountants are custodians of data. It is critical that we are to ensure not just rendition of accounts but the timeliness of it is also critical because it is needed across the world for government to be able to take effective decisions that will impact lives.”

FG MOVES TO WITHHOLD ASSENT TO MDAS’ BUDGETS OVER NON-RENDITION OF ACCOUNTS where critical institutions of government, some of them apex regulatory bodies, are over two to three years behind in their audited accounts will no longer be tolerated going forward. He, however, noted that the council was not unmindful of the existing challenges being faced by MDAs in accessing their monthly bank statements on a timely basis from the Central Bank of Nigeria

(CBN) since the commencement of the Treasury Single Account (TSA). The FRCN boss stressed that public sector entities play a pivotal role in national economy as major drivers of productive activities and the largest single business entity in the country. He said as a bedrock the economy, the importance of quality financial reporting in the national economy cannot be over emphasized, adding

that credible financial reports are no doubt critical as they not only support efficient decision making by those charged of governance but also boost the perception index of the country and by extension, enhancing Foreign Direct Investments (FDIs) and Foreign Portfolio Investments (FPIs) inflows. Isibor, nonetheless said, “We’ve seen that the activity or inactivity of government around the world

is essential for sustainability of any economy. “That’s the reason why we as a country need to take reporting seriously because if our reporting has been giving us indication of how our spending pattern is and the sort of investment we have been making in different sectors, we will perhaps be able to respond better and faster when we have such crisis in the future.”

AT 6.03% DECLINE, INSURANCE EMERGES WORST NGX PERFORMING SECTOR IN THREE MONTHS that have not released their 2021 audited financial report.” According to the Managing Director, ARM Securities Limited, Mr. Rotimi Olubi: “The current level of uncertainty in the insurance industry is not a good development for most players. “Also, we have noted significant profit taking because valuations have outpaced market pricing. In our opinion, the combination of these factors alongside what the general uncertainties (Inflation and exchange rate volatility) bodes for household income makes for a not-so-attractive tickers in the insurance sector.” Speaking, the Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion said: “This is purely market dynamics, because since the

recapitalization activities started in the sector, there have been improved buying interest as a result of anticipated mergers and acquisition in the industry which has created wealth for smart and discerning traders. “The pullback in the sector index was as a profit taking during earnings season, due to the perception low payout and inconsistent dividend before the most of the players in the sector surprised the market with improving payout at the rush hour submission of corporate earnings to meet the statutory deadline. “As the ongoing recapitalization and reforms insurance sector are expected to boost earnings performance in no distance time that will drive prices higher despite

the volatile market and pre-election year uncertainty. For short to long term investment objective look the way of the sector and allow company fundamentals, earnings growth prospect and positive technical to guide your decision.” Analysts have expressed that the hike in global oil prices was a major factor investor are buying into the Oil & gas stocks, stressing that the scarcity in the domestic market that led to price hike attracted investors’ interest in the sector. The National Bureau of Statistic (NBS) disclosed that the average price paid by consumers for Premium Motor Spirit (petrol) increased by 0.04 per cent on year-on-year basis to N165.77 in December 2021 when compared to the valued in December 2020, which is N165.70.

Although the retail price of Automotive Gas Oil (Diesel) paid by consumers presently sells for N350 a litre and more in other states, as commodity increased by 28.97 per cent on a year-on-year basis from a lower cost of N224.37 per litre recorded in November of last year to a higher cost of N289.37 per litre in December 2021. According to the CBN, daily crude oil price has gained 49 per cent to close as of March at $119.06 per barrel from $80.07 per barrel it opened in 2022. The key driver in the Oil & gas index was Seplat petroleum Plc that bounced back in its corporate earnings. The indigenous oil & gas company stock price appreciated by N280 or 43.08 per cent to close as of March 31, 2022 at N980 from

N650 it opened for trading in 2022. The company had reported profit before tax of N71.03billion in 2021 FY as against a loss of N28.87billion reported in 2020, while profit after tax closed 2021 at N46.93 billion from a loss of N30.71billion. The management proposed a dividend of a final dividend $0.025 for the second consecutive year. Commenting on the Oil & gas index performance Olubi added that: “The NGX Oil & Gas index has grown 24.08per cent YtD, mirroring the 43.08per cent YtD growth on Seplat. “As crude oil prices trade above USD105pb, bullish sentiment remains on the upstream oil and gas company with the counter now trading at N930.00 per share. “Other gainers within the NGX

Oil & Gas index include Oando and Total gains of 8.37per cent and 7.48per cent YtD, respectively. On the flipside, Ardova, and MRS both recorded losses 10.98per cent and 1.21 per cent YtD respectively.” Group Head, Research & Business Intelligence, GTI Capital Limited, Mr Emmanuel Onoja said: “Oil & Gas gains has been driven by the uptick in crude oil and natural gas prices. “Notably, the global oil benchmark (Brent) rose by 26.93per cent in Q1’2022 to close in March at $104.71 per barrel, while the Nigeria oil (Bonny Light) surged by 33.2per cent to close at $109.45 per barrel. “This we believe led to an upsurge in revenue of the Oil & Gas companies as Nigeria continued to struggle to meet the OPEC production quota.”

WEDNESDAY, APRIL 6, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Abolusoro: P2Vest is Enhancing Options for Finacially Included People Founder and CEO of P2Vest, a financial intermediary that ensures fair, simple and easy access to both individual and business loans, Austine Abolusoro, speaks on the growth of the fintech industry, its impacting on the Nigerian economy and how P2Vest helping to drive financial inclusion in Nigeria. Eromosele Abiodun presents the excerpts How will you describe the growth of Fintech companies and their impact on the Nigerian economy? e can say that the growth in the fintech industry is impacting Nigeria’s economy because investments coming into Fintechs are coming into Nigeria as well. In terms of employment and production of useful products for the economy, we have seen a positive growth..

which is exactly what we are doing. We continue to monitor the system and when we see suspicious activities, we deal with them with a sense of urgency.

How ﬂexible and easy to use are your app and platform to market women, who may not be technology savvy? The P2vest app is simple to use but we are quite aware that there are different levels of literacy and there may be people that might not understand how to use the app. We are looking into this and bringing in a new option of requesting for a loan on our platform either through USSD or some other means. Those are features we are working on right now.

P2Vest is one of the many Fintech companies that is driving innovation in the digital lending industry of the Nigerian economy. How has P2Vest helped in driving financial inclusion in Nigeria? Financial inclusion is essentially a movement aimed at encouraging people to join the financial system by opening a bank account or owning a wallet, consequently providing them with financial benefits.We offer credit as a financial product at P2vest by providing a digital platform whereby the users can borrow or lend money, which can only be done with the help of a bank account or wallet. We are simply enhancing the options for the finacially included people. You will agree with me that Financial Inclusion without access to Credit will lead to Financial Frustrations. What specific challenges does P2Vest seek to address in the digital lending industry and what are the specific solutions developed by P2Vest to address such challenges? P2vest is set up to provide lending and borrowing services through a peer-to-peer platform. Looking at lending today, we’ve been able to provide a platform that addresses the credit gap as well as solves the problem of accountability for some people. Our latest product on the platform, which is the BailMe, allows friends or individuals to lend money to each other with or without charging interest. Overall, we are trying to address the accountability challenge, and with a platform like ours, there is more assurance of getting your money back with the option of charging interest . Also, we are solving the credit challenges faced by many SMEs by providing P2vest for business, a feature targeted at SMEs. We are looking to launch other services that would bridge different gaps that exist in the financial system. As a peer-peer lending platform for lenders and borrowers, how do you ensure credible lenders do not lose money to fraudulent borrowers? We strive to keep fraudulent borrowers away from our platform as much as possible using P2Vest technology. Before providing a borrower access to a lender, we perform various processes and checks from our end on our platform. To ensure that the person is neither a fraudster or a defaulting borrower, we run BVN checks, background checks, account validation checks, and credit bureau checks, to name a few. There’s also credit scoring, where a user gives us their bank account statement and we obtain it directly from banks to verify the transactions so we don’t have to deal with bogus statements.When borrowers refuse to pay or are late, we go to the bank and debit their account, attempt to debit the funds from the account provided to reclaim the lender’s funds. If that fails, we issue reminders and take other steps. We don’t share the borrower’s information with third parties in this way, but we do send notifications to borrowers and their guarantors to remind them to pay as a part of their obligations on the platform. 5What are the criteria and conditions

Abolusoro

for borrowing and what is the highest amount that a borrower could get from the platform? The first criteria to borrow on our platform is to have a BVN and a phone number and to borrow successfully one has to meet some minimum requirements and a minimum credit score of 50/100. We run a tier system on the platform which helps borrowers know what they are eligible to borrow, so a borrower can be moved from one tier to another if he/she has paid off their last loan and meets the requirement for the next tier. Who bears the ﬁnancial risk, should a borrower default within the given period of the transaction? Well, while we provide the platform and help with the recovery of loans from a borrower, the lender bears the financial risks. Lenders on the platform are not compelled to lend money to a borrower, we provide necessary details to help them make a decision. The decision to lend is solely that of the lender. Most Fintechs are looking for willing investors to invest and grow their business. Are you thinking in that direction anytime soon? Every fintech at some point would require some investments to upscale and grow their business. With the P2vest platform, we are at a stage where we are looking at scaling our business and so we would be looking to to engage with investors that would help us achieve that. What is your view about the planned government regulation of the Fintech sector, given the fact that regulating emerging technologies could stiﬂe business growth? Presently, the Financial sector has a plethora of services available, and regardless of what you play, there is already some type of regulation in place. When it comes to Fintechs that provide banking and payment-related services, the

central bank has put in place requirements and certifications that they must meet in order to operate in certain areas, such as switching, payment gateways, and so on. Regulating the fintech business is a broad statement, but let’s narrow it down to regulating the digital lending business, which is an area where many Fintechs are active and which has recently sparked some worries by offering digital loans that are different. The experiences so far has been a lot of violations and breaching of end-user privacy, it is necessary to put in some kind of regulation but so long as the government and regulatory authority can be magnanimous enough to allow people to make inputs and not come up with draconian laws that will totally hinder innovation. I think it will be for the good of all. What is the current population of lenders on your platform and how do you intend to further grow the number in the next two years? On our platform, we have over a thousand lenders and the general number of users and borrowers is well over a hundred and twenty thousand. We are now in conversations to onboard some groups of SMEs to also come on our platform to lend. You are into a business with a high-risk factor, where hackers are busy looking for loopholes to hack into organizations’ networks. How secure is your platform in protecting the interests of lenders and borrowers? Information security systems is something we take very seriously at P2vest and so it’s safe to say that having some experience and background in security is a great advantage as it has enhanced the design and management of the P2vest platform in knocking out hackers. Having said that, no system is a hundred percent secured, it all depends on the types of control and monitoring that are in place

What are some of the challenges of doing business in Nigeria and how were you able to overcome the challenges? The challenges of doing business in Nigeria are numerous and very clear to everyone. We have a very unstable exchange rate system in terms of foreign exchange. This impacts businesses because many of the services we use are subscribed in foreign currencies. A common challenge we face in the country is that of untruthful people who only want to take money and not pay. I think it is a challenge in our nation that we don’t have a strong way of compelling people to pay and this is one of the reasons why you see some lending companies taking the law into their own hands by taking some of the steps people are criticizing today. Imagine we have a credit system so strong that people know when they take a loan and do not pay it affects so many other things around them, so they are very careful to make sure that they do not default. Electricity is another major challenge for a startup like us but we have learnt to live with it. Startups are full of ideas, but 95 per cent of such ideas do not come out successful. What could you say are your survival strategies in the last two years? The startup environment is very brutal, it is tough starting a business and sustaining it to grow is a major task but we have been able to weather this so far. There are two important resources to a startup: time and funds. The ability to manage both is very crucial. Efficient management of time and the limited funds you have when you start a business is very important to your survival as a startup. Another strategy I have found is to have magnanimous investors, investors that would give you some time to be able to run the business before insisting on profit is something a startup needs because you need the lead time to build your product and to grow your business. So, having the right kind of investors that would support you in your business, give you advice, give you the right kind of connections and also having the right team in place is very important. , I find these as survival strategies. What is your advice for upcoming Fintechs and what kind of survival tips would you like to share with them, to enhance their business growth? As an upcoming fintech, I would say have no boundaries, open your mind, go after and pursue that idea that you believe in. Put all your energy and resources into it. Don’t worry too much about mistakes, of course some are going to be made but learn from them quickly and from those that are ahead of you, don’t waste time on things that would not work, know exactly what you want to achieve and put all your energy behind that but don’t be afraid of making mistakes because in the process you could learn new things that would help you achieve your goals.

T H I S D AY ˾ WEDNESDAY, APRIL 6, 2022

BUSINESSWORLD

INTERVIEW

Oyedeji: Access to Finance, Market, Pose Challenges to Female Entrepreneurs in Africa Recently, Ecobank Nigeria had a special free exhibition and networking workshop for female entrepreneurs as part of activities to commemorate 2022 International Women’s Day (IWD). The Executive Director, Commercial Banking, Carol Oyedeji, in this interview with Kayode Tokede highlights major challenges facing female entrepreneurs and what initiatives the bank is offering to drive aggressive female’s participation in entrepreneurs where it has branches in Africa. women in leadership, and organizations that have a large proportion of women. So our focus is to support these organizations to grow and enhance economic growth. What we do is to provide financing benefits to them and to encourage them to create value in the economy. In Ellevate, funding is one of those ways as well as non-funding. The non-financing can be through capacity development where we train women micro-entrepreneurs so that they can stand on their own and add value to society.

What are the major challenges of SMEs in Africa? umber one is access to finance and the reason is that most times, they do not know the structure of their business. Number two is access to the market as they do not know how to package their goods. The third one is capacity building by understanding their business very well and actually ensuring they sell them. Ecobank the pan African bank is out to help businesses with all of these.

How has Ecobank strengthened SMEs as regards the African Continental Free Trade Area (AfCFTA)? As you likely know, Ecobank is one of the largest African banks with operations in over 33 countries. Which other bank do you think has the capacity to support entrepreneurs as much as we do? With such experts and presence in Africa, we have been able to create that access. Access can be down to referrals, creating visibility for our customers across the different market in Africa. Because we have a presence in different markets in Africa, we have been able to tell them how each market environments are and support them as much as possible. Those sorts of benefits are the things we have been able to bring to the table. How is Ellevate by Ecobank Nigeria empowering women to enhance economic

What has been the contribution of Ellevate to the bottom-line growth of Ecobank? I can say Ellevate’s contribution to our bottom line is significant. How many jobs has Ellevate created almost a year it was launched? Because we have supported a large number of decision-makers in this category, the created jobs opportunities are significant.

Oyedeji growth? As you likely know, we launched our Ellevate proportion in May of 2021, and Ellevate is focused on women and organizations that produce goods for women, organizations that have dominated

How much loans has the bank granted since Ellevate was launched? I can also tell you the loans granted since it was launched is significant too. We have a large number of women dedicated to our Ellevate program and so a large

number of our loans have been granted to women in that category. What has been the impact of Ellevate in women’s ﬁnancial inclusion? In Africa, one in five entrepreneurs is a woman. We are supporting that category and because we are supporting that category whether formally or informally, they add value to the entire financial inclusion system. If you notice, women do not occupy top positions, and they could not do much because they were not empowered financially and understands the knowledge of their business. With Ellevate, you can imagine the impact of this category of those who were excluded from the financial system which Ellevate is adding value to. Why is Ellevate different from Ecobank’s other products? Ellevate is not a product but a proposition. When I say proposition, it actually transcends several products. Once you’re a female-focused business owner; make products for women and employees are women, it was created to support women’s proposition. The supports are through financing your business through concession on the interest rate; we train your staff as much as possible to understand their business and create access for them in the international market. We have our sister entities in our 33 countries in Africa. When I say create access, we have been able to provide experts that will train them.

T H I S D AY ˾ WEDNESDAY, APRIL 6, 2022

BUSINESSWORLD

NEWS

NAPE Seeks Collaboration to Bridge Skills, Knowledge Gap in Petroleum Sector Peter Uzoho The Nigerian Association of Petroleum Explorationists (NAPE) has called for collaboration between oil and gas practitioners, oil companies and university lecturers and students in order to address some gaps existing in the country’s oil and gas sector. The association stated that the

lack of high-quality workforce needed for Nigeria’s energy transition has been a nagging concern for the industry and the academia hence the need for collaboration. NAPE made the call in a communique issued at the end of its 15th NAPE-University Assistance Programme (UAP) Leadership Forum held in Port Harcourt, on the theme: Bridging

the Industry-Academia Gap: Consolidating the Gains of the Past and Projecting into the Future.” The forum was conceived to provide a platform and ambience for students studying the geosciences in Nigerian tertiary institutions for the exchange of technical knowledge, exhibition of new technologies and industry/ academia collaboration.

Heirs Insurance Launches Motor Insurance Policy for Women Ebere Nwoji Digital General Insurance Underwriter, Heirs Insurance Limited (HIL), has launched a special comprehensive motor insurance plan for women, tagged “Her Motor Plan”. The underwriting firm said in launching the product, its plan was Prioritising safety for women driving on Nigerian roads. Introducing the product to the public, Heirs Insurance Managing Director, Dr Adaobi Nwakuche, said the plan offered to its subscribers

24-hour road rescue and vehicle repair services, as well as access to an exclusive community of likeminded businesswomen. According to her, ‘Her Motor Insurance’ Plan is an affordable, yet holistic comprehensive motor insurance plan offering coverage and support involving the mechanical breakdown of vehicles. “It provides all-day protection and coverage for vehicles against road accidents, theft, or fire. Other benefits include towing service, free vehicle tracker and medical support

in the case of an accident”. Also speaking, the Chief Marketing Officer, Heirs Insurance, Ifesinachi Okpagu, noted that the product further emphasises the company’s overall ambition of creating products that offer value and make better the lives of customers. She said the company remained committed to providing excellent services to the insuring public, based on research and insight, adding that it would continue to provide services that were simple, quick, and accessible.

Rainoil Boosts Fuel Distribution with New Filling Station in Ogun Peter Uzoho Downstream petroleum company, Rainoil Limited, has increased its footprint in the petroleum retail business with the opening of a new filling station in Ibafo, along the Lagos-Ibandan Expressway, Ogun State. The company said the new outlet, which brought the number of its fillings to over 130 was built to enable Ibafo residents and motorists

plying along the busy expressway have a taste of Rainoil’s excellent customer service. Speaking during the unveiling of the facility at the weekend, the Group Managing Director, Rainoil Limited, Dr Gabriel Ogbeche, said citing the outlet at the location was well-thought-out as the expressway was the road with the largest traffic in the country. Ogbeche said: “On our own, we realised that a very major artery

in this country, which is the road going out of Lagos, did not have a presence, and as a prominent player in the downstream sector, we thought that this is one location we cannot ignore.” The Chief Operating Officer, Rainoil, Mr. Jude Nwaulunne, said the filling station was built according to industry standard and comprised 10 pumps for petrol, two pumps for diesel, and one for kerosene.

Educationist Harps on Credible Leadership to Drive Inclusive Economic Growth Gilbert Ekugbe An educationist, Professor Christopher Imumolen, has emphasised on the need for Nigerians to elect credible leaders to achieve an all inclusive economic growth for the country. Lamenting over the poor state of the economy, Imumolen stated the urgent need to have a new generation of voters that would elect credible leaders who have the

interest of impoverished Nigerians at heart, explaining that it is the surest way to put Nigeria on the path of economic growth and development. Addressing a press briefing in Lagos on the state of the nation, he stated that solving Nigeria’s economic situation is not rocket science, but requires proactive leadership while also stating the need to digititalise the nation’s economy.

The professor who also declared his interest to contest the presidency in the 2023 general election, said to make Nigeria great again, economic managers must rejig the nation’s security architecture and review its economic policies to drive local and foreign investments into the country. He blamed most of the abandoned projects in the country on the selfish interest of greedy politicians who he said do not mean well for the nation.

GNI Develops Affordable Unique Insurance Products Ebere Nwoji The Managing Director/CEO, Great Nigeria Insurance Plc, Mrs. Cecilia Osipitan has said that the company as part of its efforts to deepen insurance penetration in Nigeria has developed set of unique insurance products at competitive rates. Osipitan said the products were aimed at assisting policy holders mitigate their risks. She said these products had

been duly approved and certified by the insurance industry regulator, the National Insurance Commission (NAICOM). According to Osipitan, GNI MotorFlex offers a wide scope of protection cover in addition to all the benefits of Third-Party Motor Insurance. She further explained that the scope of cover of GNI MotorFlex Insurance includes: Third-Party Limit up to N1, 000,000 which takes care of legal liabilities for third party bodily

injuries, death or property damage while the vehicle was on the road. Also speaking, the company’s spokes person and Head of Corporate Communication, Ms. Oyinkansola Sobande stated that every vehicle owner was mandated by law to have the Third-Party Motor Insurance cover; although many members of the insuring public and third party road users have not fully realised the importance of Motor (Third Party) Insurance in Nigeria.

Banks’ Borrowing from CBN Declined by 0.45% in Q1 Nume Ekeghe Eanks borrowing from the Central Bank of Nigeria (CBN) dropped marginally by 0.45 per cent to N1.35 trillion in the first quarter of 2022 compared to N1.36 trillion reported by the apex banking regulating body in the prior first quarter of 2021. Banks through the Standing Deposit Facility (SDF) on a daily basis deposit excess liquidity with the apex bank. The trend in the first three months, as gathered from the CBN revealed steady decline in bank deposits, driven by further improvement in the level of liquidity in the interbank system. In January, banks deposited

N572.5billion with CBN but it dropped by 48.2 per cent to N489.05billion in February. In addition, the borrowing dropped further to N296.8billion in March. Banks deposit applicable interest rate for the SDF is at 4.5 per cent. In November 2014, the CBN said it observed that banks and discount houses preferred to keep their idle balances in the SDF with the apex bank. Unfortunately, this preference contributed to the restraining of the financial intermediation process, the reason the CBN opted to review the guidelines for the operation of the SDL. The review recommended that daily placements by discount houses

and banks at the SDF should not exceed N7.5 billion. Head Financial Institutions’ Ratings Agusto & Co, Mr. Ayokunle Olubunmi explained: “Because CBN is implementing the discretionary CRR, banks where being careful in terms of sourcing for deposits because it doesn’t make sense for you as your bank to get deposits and then CBN is actually holding them sternal. So, banks are being careful with deposits. “2022 is going to be much more drastic if the CBN does not change their stance. Because what we have seen last year is that banks are getting a bit more reluctant to lend. If not well managed, it could cause a dysfunction in the economy.”

WEDNESDAY APRIL 6, 2022 • T H I S D AY

WEDNESDAY, ;˜ ͺ͸ͺͺ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

Why Is Oby Ezekwesili Silent In The Face of Monumental Bad Governance? I

urge Nigerians to compare the feebleness of Oby Ezekwesili, a former minister of education, and World Bank Vice President, with how vociferous she was in the last four years of the Jonathan administration. Strange, is it not? Oby was very vocal against the Jonathan government. I often wondered why, until she let slip last year (2021), that she was offered an appointment by the Jonathan administration, but turned it down. That was a lie. She was never offered an appointment, even though we knew she was desperate to get one. Since she is the one who made the allegation, I challenge her to provide evidence that she was offered an appointment that she turned down. Oby is just a hustler! And this much was demonstrated by one of Nasir El-Rufai’s minions, who publicly revealed, after a tiff with Oby, that Mrs Ezekwesili was the hidden finger behind much of their propaganda against former President Jonathan, stating that she coordinated their social media activities via WhatsApp messages and texts. Now, we have had an unprecedented bombing of a train by terrorists, with loss of lives that Bola Tinubu put at “over 60”, including Dr. Chinelo Megafu, the national Secretary General of the Trade Union Congress, and a director of the National Board of Technical Education, amongst others, and Oby’s voice is missing. Two days before that carnage, terrorists took over the Kaduna Airport, which is also unprecedented, and again, auntie Oby was SILENT beyond some feeble noises on Twitter. This was a woman that organised protests, rolled on the floor, called press conferences, used harsh language on former President Jonathan and functionaries of his administration. She claimed she was motivated by the alleged corruption and insecurity in the last administration. Fair enough. But according to Transparency International, Nigeria is now more corrupt than at any time since 1999. In

Oby Ezekwesili fact, whereas we were 136 in 2015, we have now moved to 154 out of 180 countries surveyed, falling back five places from our rank of 149 in 2020. And Nigeria under Buhari is now the third most terrorised nation in the world, according to the Global Terror Index. Only Afghanistan and Iraq are worse than Nigeria. And good a thing that Oby was herself a former Vice President of the World Bank, because that institution published a report on Tuesday, March 29, titled ‘NIGERIA POVERTY ASSESSMENT 2022: A Better Future for All Nigerians’, in which the institution extolled the Jonathan years as one in which Nigerians prospered. According to the World Bank, poverty in Nigeria started reducing drastically around May of 2010. What happened in May of 2010? On May 5, 2010, Jonathan

became the President of Nigeria after Yar’adua died. Also, according to the World Bank, the decline in poverty in Nigeria continued until the second half of 2015, whereupon it started rising. What happened in the second half of 2015? Buhari became President. I urge Nigerians to read that report. It is an eye opener. To quote from page 11 of the report: “Between 2000 and 2014, Nigeria enjoyed a period of sustained expansion, during which the economy grew by around 7 percent per year, outstripping the estimated annual population growth rate of 2.6 percent. Yet real GDP growth dropped to 2.7 percent in 2015, then -1.6 percent in 2016.” To quote from page 24: “They also suggest that poverty may have started declining in the first part of the 2010s, but that this trend halted and then reversed around 2015. This is unsurprising—and indeed is hardwired into the back-casting model through real GDP growth estimates—given the 2016 recession.” And yet, their former Vice President, who was so vociferous under an administration that was reducing poverty, is now feeble under a regime that has dramatically increased poverty and turned Nigeria into the world headquarters for extreme poverty? What is wrong Oby? Why has the cat got your tongue? I have been racking my brain trying to figure out why Oby cannot or will not talk today. Is it because she is a beggar with a receipt, according to the public allegation made against her by Bello El-Rufai, to which she had still not responded. Do the All Progressives Congress and the El-Rufais have her on tape doing unimaginable things? Oby cannot or will not talk today. Yet, she opened her mouth waaaaa under Jonathan! Who knows what else she opened for El-Rufai! On Saturday, March 26, 2022, terrorists took over Kaduna Airport. On Monday, March 28, 2022, they bombed the Abuja-Kaduna train. On Tuesday, March 29, 2022, they attacked Southern Kaduna. On Wednesday, March 30, 2022, they went house to house in Kubwa FCT and eventually abducted a monarch. On Thursday,

March 31, 2022, they blocked the Abuja-Kaduna road. And Buhari is hiding in Aso Rock? I ask Nigerians if Oby Ezekwesili would be this silent, if half of these things had happened under Jonathan? Naira has collapsed. Nigeria is now the world headquarters for extreme poverty. Life in Nigeria is now short and brutal. But Oby is quiet. Is Oby observing good table manners? Because, this would appear to be out of character with the Oby we saw under Jonathan. Oby should speak up. If there is duress or blackmail involved, we can help her. She does not have to suffer in silence. The nation needs her voice. Or could it be that she has been frustrated into silence over the continuous progress of Dr. Mrs Ngozi Okonjo-Iweala, who she has tried, without any type of success, to measure herself against? Oh Oby, we know about that. In any case, history is being written as we speak, and it will certainly not be kind to auntie Oby. Not at all. Not at all!

Reno’s Nuggets Sunday is not a special day Sunday is not a Christian day Sunday is not a holy day Christ did not go to the Synagogue on Sunday Christ went to the Synagogue on the Sabbath Day as lifetime custom-Luke 4:16 Sunday is not diﬀerent from Monday to Friday The only day that God set aside is the Sabbath Day, and it is not Sunday. Neither Christ nor His disciples, nor the New Testament abolished the Sabbath Day. God established the Sabbath Day in Genesis 2:3, and He reminded His people that they must “observe the sabbath throughout their generations, for a PERPETUAL covenant.”-Exodus 31:16. You can now insult me!

Wike Not Controversial, A Good Team Player,Works in Sync With His Brother Governors, Says Aide We consider your analysis of Governor of Rivers State, Nyesom Ezenwo Wike in your report captioned "Nigeria’s Presidential Options: The Die is Cast, published on Tuesday, 5 April, 2022, malicious, defamatory, and one that was lost on the objective it set out to achieve. One do not set out to do honest comparison of persons jostling for the exalted office of the President of Nigeria with a mind cast in nauseating bias. Without equivocation, we are of the opinion that THISDAY succumbed to pedestrian conjecture as touching the personality of the Rivers State Governor Nyesom Ezenwo Wike. The aforementioned report undeniably aimed to make Governor Wike, who was one of the subject it set to do the so called x-ray and profile evaluation on, to be seen in contrary perspective different from how he truly towered, and eminently qualified, among the reviewed presidential aspirants. Any discerning mind, will easily realise that the goal of recent coordinated barrage by THISDAY is aimed at undermining Governor Wike’s presidential aspiration through the dissemination of misinformation and distortions of his position on national issues. We have this conviction, therefore, to do this response, just so, THISDAY Newspaper, is not allowed such emboldening gut, if we do ignore its grave effort that appeased its personal taste and delight in denigrating the personality of the Governor of Rivers State. Our response is also not to allow the unsuspecting members of the public to go away, mislead by the foul words, unfitting sentimental overture, and untasteful ingenuity with which THISDAY had painted Governor Wike. Governor Wike is a bold, servant leader who undoubtedly speaks truth to power always. He is politician with different orientation because he advocates political ac-

R I G H T O F R E P LY countability and urges electorate to hold politicians accountable to their words and punish them for any unfulfilled promise made towards solving societal problems. It is obvious that THISDAY is uncomfortable with the overwhelming goodwill Governor Wike currently enjoys, first with delegates in Peoples Democratic Party, and Nigerians who are waiting to bestow on him the mandate to provide the sterling leadership the nation requires at

this critical juncture. How could THISDAY have started the evaluation of Governor Wike with the word "The controversial Governor of Rivers State, Nyesom Wike, has many limitations..." and we wonder where the Newspaper stands on the journalistic scale of objectivity and unbiased presentation of the facts without injecting preconceived, cast and biased opinions. What controversy is THISDAY talking about? What limitation is THISDAY

drawing up? What does THISDAY even mean by using such word as "reckless" Truly, THISDAY may not have truly appreciated that Governor Wike is a good team player, and works in sync with his brother governors including party members. Of note, it must be stated that Governor Wike had deliberately completed the construction of critical roads both in the Port Harcourt city and rural communities of Rivers State. He has built land bridges, flyovers and jetties too. His administration is acclaimed for re-enacting the place of the state

on global map as hub of legal education, medical tourism, attracted increased inflow of investments and one of the most peaceful State. All of these required careful planning, expert handling and many months of hard work to ensure adherence to specifications. Was it not with such dexterity that he was able to map out with the security agencies modalities that were implemented to achieve the peace enjoyed by residents in Rivers State. If these were achieved in multicultural and ethnic State like Rivers, Governor Wike’s capacity to offer Nigeria transformational

leadership is not in doubt. In the words of the Akpor Consultative Assembly (ACA), while endorsing governor Wike for Presidency, they had said that "We are compelling him to make himself available because Nigeria needs a man of his status at this perilous time of our history. We need sanity in Nigeria. We need a courageous, youthful leader to man that position. In Governor Wike we see every qualification. In him we see the embodiment of a true patriotic Nigerian." Kelvin Ebiri, Special Assistant on Media to the Governor of Rivers State.

from the rise in the cost of diesel could reduce consumers’ disposable income, thus making it impossible for average Nigerians to meet their basic needs." Adopting the motion, the House gave the Committees six weeks to carry out the investigation and report back for further legislative action.

emphasised that electricity was a crucial enabler for industrial development and social welfare, hence it’s the backbone of development in any country. He noted that Nigeria has 23 power generating plants connected to the National Grid and managed by Generating Companies (GENCOs), Independent Power Providers and the Niger Delta Holding Company. He also noted that the country was endowed with oil, gas, hydro and solar resources and has the potential to generate 20,522 megawatts of electric power from the existing plants. Monguno expressed concern that despite been so endowed, the country could only be able to dispatch around 4,000 megawatts which he said was insufficient for a country of over 185 million people. He lamented that for some weeks, many parts of the country including major cities like Abuja had been experiencing unsteady power supply. He said the collapse of the power grid had become a national embarrassment, adding that the increase in the electricity tariff has not brought about any improvement in power supply across the country.

S E N AT E E X T E N D S 2 0 2 1 B U D G E T I M P L E M E N TAT I O N TO M AY 3 1 based on estimates to continue to lift Nigeria crude oil pending a time when proper reconciliation will be done on their tax liabilities in the last ten years of operation” Senator Adeola stated. The chairman of the committee added that only recently in 2020, an audit of just one of such foreign companies known as TeeKay Group with 14 tankers paid about $10 million in tax liabilities to FIRS for a back duty investigation of five years adding that at least over 100 of such entities have been lifting crude oil in Nigeria without paying a dime in taxes. “Henceforth, NUPRC unlike the way the defunct DPR operated must ensure that any firm lifting crude oil must have a tax clearance from FIRS. We are going to investigate about 100 companies lifting our crude oil without paying any taxes as there are no record of such payment with FIRS. We must recover all our revenue from this source” senator Adeola reiterated. Adeola stated that the committee was not ruling out the existence of a cartel that may be behind this huge tax evasion in dollars stressing that at this point there should be collaboration and synergy between maritime agencies like Nigeria Ports

Authority, NPA. Nigerian Maritime and Safety Agency, NIMASA, Nigeria Navy, NUPRC, NNPC and FIRS on the issue of tax revenue from the maritime sector.

House Moves to Address Increase in Price of Diesel, Gas

Meanwhile, the House of Representatives yesterday mandated its Committees on Petroleum Resources (Downstream), (Upstream) and Gas Resources to investigate the astronomical increase in the price of diesel as well as gas with a view to ensuring that a reasonable price was fixed to alleviate the sufferings of Nigerians. The resolution of the lawmakers was sequel to the adoption of a motion sponsored by Hon. Chike Okafor, at plenary. Moving the motion, Okafor noted that the Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA) was created in August 2021, in line with the Petroleum Industry Act with the mandate to provide effective regulatory oversight, ensure sufficient product distribution and supply at an equitable and fair price. He also noted that almost all businesses and households in

Nigeria depend on diesel-powered generators as an alternative source of electricity. He further noted the outrageous rise in the price of Automotive Gas Oil (Diesel) as the product which used to be sold between N280 to N350 per liter three weeks ago has risen currently to above N780 per liter and still rising on a daily basis, accounting for over 115.4 percent increase within three weeks. He warned that if the ugly trend of the increasing price of diesel was not checked, the multiplier effect would spell doom for Nigeria’s economy. The lawmaker said, " Concerned that diesel was deregulated in 2009 with an initial price of N100 per liter, and between 2009 till date, Nigerians have witnessed a rising percentage increase in the price of the product. “Also concerned that the hike in the cost of diesel is alleged to be the handiwork of unscrupulous stakeholders in the industry, and is tantamount to economic sabotage, causing untold hardships for Nigerians as it will result in an increase in prices of food as well as other goods and services. “Worried that the possible inflationary pressure envisaged

Grid Collapse: Lawmakers Urge FG to Upgrade Power Infrastructure, Seek Alternative Sources

Also, the House of Representatives at plenary yesterday urged the federal government to take urgent steps to address the epileptic power supply in the country which had brought untold hardship on Nigerians. The lawmakers advised the government to upgrade power transmission and distribution infrastructure and as well seek the best alternative sources of energy to ensure steady power supply across the country. The resolutions were sequel to the adoption of a motion of urgent public importance sponsored by Chief Whip Hon. Tahir Monguno, Moving the motion, Monguno

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T H I S D AY WEDNESDAY APRIL 2022 Wednesday 6 6, April, 2022 Vol 27. No 9857 TR

See page 28 A CALL FOR RESPONSIBLE POLITICAL FOLLOWERSHIP Nigerians should vote wisely during elections, writes SONNIE EKWOWUSI See page 28 ZONING FOR PEACE AND UNITY Zoning gives every component of the union a sense of belonging, argues UCHE OFFIAH See page 29 TINUBU’S PRESIDENTIAL AMBITION GRACE ACHUM and NDUKA UZUAKPUNDU contend that Bola Tinubu deserves to be the next President

See page 29 EDITORIAL VIOLENCE AGAINST SECURITY MEN See page 30

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

MULTIPLE TAXATION, LEVIES AS ILL WIND SONNY ARAGBA-AKPORE writes that arbitrary taxes are crippling telecom services

UT H

The odds favour Umo Eno of the PDP, writes ANIETIE USEN

THE SEARCH FOR THE NEXT A’IBOM GOVERNOR The D-Day is May 21, 2022. The gubernatorial primaries for the nomination of the PDP governorship candidates nationwide is scheduled for this much awaited and anticipated Saturday morning. That is seven long weeks from now. But in the calendar of politicians, seven weeks is a twinkle. The die is cast already. Delegate election is delicate and the underground schemes to secure a majority of delegates is gaining momentum. In Akwa Ibom State, a virtual one party State, the PDP is bursting at the seams. Both visible and invisible governorship aspirants, trailed everywhere and everyday by their enthusiastic VXSSRUWHUV DUH ERPEDUGLQJ HYHU\ LQÁXHQWLDO stakeholder for consultations and endorsements. Not much is heard yet of the Akwa Ibom APC for now. The scenario however is less than inspiring for the APC vis-a-vis the disarray and uncertainties about the leadership of the party in the State. The best outing of APC in Akwa Ibom State was three years ago in 2019, when former Governor Godswill Akpabio joined forces with his political enemies, Senator John Udoedehe, immediate past National Secretary of APC and Umana Umana, the MD of Oil and Gas Export Processing Zone, to back the governorship hopes of Nsima Ekere, who resigned as MD/CEO of NDDC to challenge Governor Udom Emmanuel for the coveted seat. The momentum was huge. It was rated as a political tsunami. But as one of my friends RQFH SXW LW LW ZDV ¶D WVXQDPL WKDW HQGHG DV D ÀE· Many PDP and even the APC members attributed WKH ÀE DQG WKH ÁRS WR 21/< *2' WKH ODVW KRSH that Governor Emmanuel resorted to after all the SROLWLFDO LURNRV DQG ¶ERPRQNXNXV· RI $NZD ,ERP GHVHUWHG KLP ,Q UHWURVSHFW LW ZDV QRW MXVW D ÀE EXW D ÁRS WKDW VDZ WKH PLJKWLHVW RI LURNRV IDOOHQ HYHQ in their backyards. Against this backdrop, the odds still favour PDP- the brave. In other words, all eyes remain on PDP. Usually, the winner of the PDP governorship primaries in Akwa Ibom State is practically regarded by many as the Governor-in-waiting or LQ $NZD ,ERP SDUODQFH WKH ¶,Q FRPLQJ· &HUWDLQO\ WKH ¶LQ FRPLQJ· JRYHUQRU RI $NZD Ibom State, this time around will be a son of Uyo Senatorial District. The State, unlike many other States in the country, has accomplished a credible and predictable political zoning and sharing formula that guarantees stability and amity, all tenure round. So the search for the in-coming Governor of $NZD ,ERP 6WDWH LV D UR\DO DͿDLU PRXQWHG SUHFLVHO\ in Uyo Senatorial District, made up of 100 percent Ibibios, who are the big brothers of the other two Senatorial Districts. The Ibibios are also found in every other Senatorial District in large numbers and could easily monopolise and hold tenaciously to the seat of the governor, if they so wish. But the Ibibios are large-hearted and fair-minded people. 7KH\ DUH WUXO\ WKHLU EURWKHUV· NHHSHUV )RU SHDFH and harmony to prevail, they willingly sit back and allow their siblings from other sections of the State to share on the table of political brotherhood. Thanks to Obong Victor Attah, the respected former governor and modern father of the Akwa Ibom State, who set the political ball rolling to this HͿHFW ,W LV QRW D VXUSULVH WKHUHIRUH WKDW WKH VHDUFK for the next governor of the State has more or less centred around his immense popularity and guidance.

)RU WKUHH \HDUV YLUWXDOO\ DOO URDGV RI ZRXOG EH JRYHUQRUV OHG WR $WWDK·V PRGHVW KRPHV LQ Shelter Afrique, Uyo. Every serious governorship aspirant needed to leverage on the immense love and respect Akwa Ibom people habour for Obong Attah. They turned his homes, both in Uyo and Abuja into Jerusalem for political pilgrimages. As a wise man, Attah never pretended to have the monopoly of knowledge. In his disarming simplicity and candour, all he kept hammering on was the need for Uyo Senatorial District to search for the best of an Ibibio man for the important job, in order not to waste the next eight years in showboating. Aware of the huge responsibility on his broad fatherly shoulders, he surrounded himself with a stealthy think tank, made up of respected politicians, intellectuals, traditional rulers, businessmen, the clergy and journalists. Two years ago, he told some members of his inner circle that “the next governor of Akwa Ibom State will not be a matter of political party but a matter of the personal quality, proven capacity and unquestionable integrity of the candidate”. It was rare to meet him without the company of one or more of the best brains in the land. Surprisingly, he always had something good and encouraging to say to every aspirant that visited him, hardly ever betraying his criteria and perception of who the next governor should be. While the race in the APC was focused mainly on Senator Udoedehe and any other aspirant Senator Akpabio would back, the PDP race took the semblance of the Boston Marathon: overcrowded. Time was to prove that some aspirants were contenders for the throne, while others were pretenders to the throne. As the political clock ticked and Wadata Plaza, the PDP National Headquarters, decreed a whopping N21 Million for the purchase of one governorship nomination form, the crowd petered out naturally to a handful of moneybags and diehards. Ambition VKRXOG EH PDGH LQ WKLV FDVH QRW RI VWHUQHU VWXͿ but of Naira bags. N21 Million is no chicken feed to forgo in these hard times. Not an easy deposit to lose either. As the governorship primary enters the home run, Akwa Ibom PDP is practically left with the competent trio of Pastor Umo Eno, a successful entrepreneur and technocrat, Senator Bassey Albert Akpan, former commissioner RI ÀQDQFH XQGHU $NSDELR DQG WKH LQFXPEHQW Senator representing Uyo Senatorial District, as ZHOO DV 5W +RQ 2QRÀRN /XNH IRUPHU 6SHDNHU RI

All eyes remain on PDP. Usually, the winner of the PDP governorship primaries in Akwa Ibom State is practically regarded by many as the Governor-in-waiting or in Akwa Ibom parlance, the ‘In-coming’

the House of Assembly and incumbent Chairman of the Judiciary Committee in the House of Representatives. But the dark horses in the race FDQQRW EH LJQRUHG RU ZULWWHQ RͿ 7KH\ DSSHDU WR pack enough punches to spring a surprise at any WLPH 7KH\ LQFOXGH VWDOZDUWV OLNH $NDQ 8GRÀD D wealthy businessman, James Iniema, the famous Estate Surveyor that Akpabio defeated in 2007 to become governor, Hon. Idoreyin James, former deputy majority leader in Akwa Ibom House of Assembly, who also contested for the governorship DV WKH /DERXU 3DUW\ FDQGLGDWH DQG 5W +RQ 0LNH Eyong, a member of the House of Representatives. Unknown to many political actors, the consensus of key stakeholders was building around one man. On the new year eve, a group of stakeholders met with Governor Emmanuel and made a strong case for ‘a man with considerable social capital and networks of relationships across the socio-political strata, who live and work in the State and is respected for adding value and enabling the State to function better, through visible investment, managerial skills and hardHDUQHG UHVRXUFHV· 6LPSO\ SXW WKH 7KLQN 7DQN rather than go for a king, recommended a kind of MD/CEO, a man who has laboured to grow his personal businesses, who will be able to transfer such skills and know-how to the younger generation and the generality of Akwa Ibom people. A king, they reasoned, may squander the opportunity of Uyo Senatorial District and indeed WKH 6WDWH UHVRXUFHV RQ H[WUDYDJDQ]D ÁDPER\DQFH and ostentatious lifestyle, while a CEO model of governor would be better placed to connect the dots of all completed and ongoing projects of present and past administrations and reap a huge harvest for the State. The recommendations struck a chord with Governor Emmanuel. He had told everybody over the years that he was praying to God for a successor who would understand the fundamental principles driving many projects and programs in the State, and who would be able to quickly pluck the low hanging fruits of the past 23 years for the EHQHÀWV RI WKH SHRSOH $E LQLWLR LW ZRXOG DSSHDU that the governor, like most Akwa Ibom people, had no soft spot for the dye-in-the-wool politician, with the credentials of misusing and misdirecting youths during every election. But it took Governor 8GRP DQRWKHU WKUHH ZHHNV WR UHVSRQG R΀FLDOO\ WR the pressure on him by the Think Tank and dozens of governorship aspirants. On Sunday, January 25, 2022, the governor summoned an enlarged Stakeholders meeting in the State House. By 4pm, the hall was jam SDFNHG ZLWK WKH :KR·V :KR LQ $NZD ,ERP top politicians, some of them governorship FDQGLGDWHV ÀUVW FODVV WUDGLWLRQDO UXOHUV DQG DSH[ clergy. No section of the State was left out. The JRYHUQRU PDGH 2ERQJ $WWDK·V YRLFH WKH ORXGHVW LQ the meeting. But for the opening prayer, Senator (΀RQJ %RE D JRYHUQRUVKLS DVSLUDQW KLPVHOI ZDV picked for the role, to the surprise of everyone including the clergy. Next, the governor made a brief opening remark laced with parables, without a clear indication of why he summoned the meeting. Then, Obong Attah took over. Mr. Usen is a journalist, author and technocrat

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T H I S D AY WEDNESDAY APRIL 6, 2022

SONNY ARAGBA-AKPORE writes that arbitrary taxes are crippling telecom services

MULTIPLE TAXATION, LEVIES AS ILL WIND Indiscriminate shutting down of mobile network operators sites by states and local JRYHUQPHQW R΀FLDOV LQ SXUVXLW RI ,QWHUQDOO\ Generated Revenue (IGR) is now the latest nightmare for telecom services in Nigeria and this is not helpful to anybody. The scenario leads to poor and unavailable services for everyone including those in quest for IGR. 6WUDQJHO\ VRPH RI WKHVH R΀FLDOV DOOHJHGO\ visit telecom sites with dubious proofs that the operators were indebted to the government for xyz months or years. These taxes are alien WR HYHU\RQH EXW WKH R΀FLDOV LQVLVW WKH\ PXVW EH paid or else services will be disrupted. This has been going on for several years and because not many people are aware of this crisis, we all blame the operators and the regulator for poor services. As things are now, the umbrella body for telecommunications operators, the Association of Licensed Telecom Operators of Nigeria (ALTON) has raised the alarm that if this situation persists, they may have no choice but shut down switches in 11 states and the Federal Capital Territory (FCT). The FCT has denied operators permit to build new base stations for nearly seven years and it carries on as if nothing has happened. While we await government’s intervention in this regard, ”ALTON says if these threats by state and local governments are not addressed quickly, millions of telephone subscribers may be cut RͿ IURP WKHLU YDULRXV QHWZRUNV µ The operators have said they can no longer FRSH ZLWK WKH KXPLOLDWLRQ WKH\ VXͿHU LQ WKH KDQGV RI VWDWH DQG ORFDO JRYHUQPHQWV R΀FLDOV who always come their ways brandishing WLFNHWV RI WD[HV WKHVH R΀FLDOV FODLP DUH imposed on operators as Right of Way (RoW) charges among others. 7KHVH ORFDO DQG VWDWH JRYHUQPHQWV R΀FLDOV brandish dubious claims , irrespective of the National Executive Council (NEC) Resolutions on Multiple Taxation, Levies and Charges on ICT infrastructure in Nigeria of March 21, 2013. Part of the resolution by NEC is that the Federal Ministry of Works shall supervise RoW matters including that: Standardized DQG VLPSOLÀHG 5R: DSSOLFDWLRQ SURFHVV LQ DOO states of the federation, should be managed by a centralized and accessible agency or VWDWHV 0LQLVWU\ RI :RUNV 6WDQGDUGL]HG ÀEHU GXFW EXLOGLQJ VSHFLÀFDWLRQ DFURVV DOO VWDWHV for example, not less than four ducts for every VLQJOH ÀEHU GXFW LQIUDVWUXFWXUH WR EH EXLOW following the approval of the Row application; Operation of 30 days lead time for approval of application Once relevant application terms are met including the submission of relevant application documents and payment of marginal application fees; Administrative charge of N145 per meter Row fees for every new build and N20 per meter yearly recurring IHH IRU H[LVWLQJ GXFW ZLWK ÀYH \HDUV IHH UHYLHZ process; Conferment of alienation right on duct owners with the obligation to seek and REWDLQ WKH FRQVHQW RI WKH VWDWH DW D VWDQGDUG ÁDW IHH RI RͿ WKH EXLOG FRVW IRU HDFK VXEVHTXHQW user; NEC listed the guidelines to be followed to include: That right of way on a federal highway is a public resource controlled by the federal government through the federal ministry of works and as a result, right of way LV JUDQWHG WR WKH JUDQWHH IRU SXEOLF EHQHÀW DQG may not be used contrary to public policy or

for any purpose that shall be harmful to the good of the general public ; That the principle of infrastructure sharing is mandated in the grant of these rights of way to reduce incidents of multiple excavations on the federal highways which increase the likelihood of damage to other highway infrastructure; That grantees shall therefore operate the rights of way on an open Access basis and for the sole purpose of laying and operating communications cables for ICT transmission services; That the contravention of any federal law, policy or these guidelines in the use of these rights of way are expressly SURKLELWHG DQG PD\ OHDG WR D ÀQH VXVSHQVLRQ or revocation of the right of way; That in the use of right of way to lay communications FDEOHV DOO HͿRUW VKDOO EH PDGH E\ D JUDQWHH to ensure that there is minimal damage to other existing highway infrastructure and other infrastructure of other holders of rights of way; That the grantee shall be liable for any damage caused by it or its agents or independent contractors engaged by them without prejudice to the right of the ministry and the holders of rights of way to hold such agents and independent contractors jointly liable. The grantee shall immediately ensure that any damage is immediately and satisfactorily remedied; The right of way on a IHGHUDO KLJKZD\ LV KHUHE\ GHÀQHG WR LQFOXGH all infrastructure deployed prior or pursuant to the use of the right of way and may not be alienated without the prior written consent of WKH PLQLVWHU ÀUVW KDQG ZKLFK FRQVHQW VKDOO not be given to a person who already holds a similar right of way along a given route , except he just surrenders the initial right of way granted to him on that route. The NEC resolution was reached after a 14-member committee made up of six governors, the FCT minister, acting chairman of FIRS, EVC of the NCC, four representatives of telecom operators and secretary to the population commission. No new document has been released since then. Some former Governors who were members of the committee that midwifed the document are now law makers yet the crisis continues. Poor Telecom services can no longer be blamed for the operators and the regulator alone but also for state and local governments R΀FLDOV DV ZHOO The ALTON) says its concern about the shutting down of telecommunications facilities in Kogi State as a result of disputes arising from unusual taxes and levies demanded by the Kogi State Government through Its Kogi State Internal Revenue Service (KIRS) is one of the reasons for the latest alarm. “This issue is likely to lead to a total communications blackout in the entire Kogi State, parts of Abuja, the Federal Capital Territory and possible impact on service availability in some parts of the following States: Nasarawa, Benue, Enugu, Anambra, Edo, Ondo, Ekiti, Kwara, Niger States. These are States sharing borders with Kogi State” ALTON Chairman, Gbenga Adebayo explained adding that a number of critical telecommunications sites belonging to our members have been closed and sealed up by some State Governments in an attempt to increase their Internally Generated Revenue Collection.” Aragba-Akpore is a member of THISDAY Editorial Board

Nigerians should vote wisely during elections, writes SONNIE EKWOWUSI

A CALL FOR RESPONSIBLE POLITICAL FOLLOWERSHIP As we bemoan the complete collapse of the country’s security architecture as evidenced by the recent attempted hijack a moving aircraft and the attack and bombing of the Abuja-Kaduna train by terrorists, the pertinent questions are: why is it WKDW GHVSLWH 1LJHULD·V ÁRXULVKLQJ KXPDQ FDSLWDO kakistocracy (government by the least suitable citizens or incompetent citizens) still reigns supreme in Nigeria? Why has Nigerian democracy been churning out undisciplined rabble, men of cheap appetite, and thieves from their hideouts and entrusting them with the sacred duty of governing WKH DͿDLUV RI WKHLU IHOORZ PHQ" &RQVLGHULQJ WKDW God has richly endowed countless Nigerian men and women with sterling leadership qualities, why LV 1LJHULD UXOHG E\ PLVÀWV DQG WKH ZRUVW FLWL]HQV" +RZ GLG ZH JHW KHUH" +RZ GLG ZH ÀQG RXUVHOYHV LQ WKH FXUUHQW VRUU\ SDVV" 6SHFLÀFDOO\ ZK\ ZDV President Buhari returned to power in 2019 to continue to mess up things despite his disastrous RXWLQJ LQ KLV ÀUVW WHQXUH" The answers to the above questions are crucial as Nigerians jostle to elect a new President in 2023. The mistakes of 2015 and 2019 must not be repeated. They were really and truly costly mistakes. There is nothing more monstrous, disgraceful and damaging than those mistakes. <RX DQG , DUH QRZ VXͿHULQJ WKH WUDJHGLHV EHIDOOLQJ Nigeria as a result of those mistakes. Just imagine the monumental anarchy reigning supreme in virtually all parts of Nigeria at the moment. Therefore the people must exercise their sovereign power reposed in them in such a responsible way as to ensure that another incompetent, visionless or clueless President does not emerge in Nigeria in 2023. At the risk of sounding repetitive, sovereignty in our presidential democracy resides with the people. This is because political power does not derive its moral legitimacy from itself: it derives it from the people’s mandate. In fact, the value of democracy stands or falls with the fundamental values that it embodies and promotes. One of such fundamental values is respect for the will of the people. Since we need a shoe maker to make shoes, once said American philosopher cum educationist John Dewey, we equally need a shoe wearer to say where the shoe pinches. Going by this analogy, it is the Nigerian people who directly bear the full brunt of visionless leadership who should have the ÀQDO VD\ RQ ZKR VKRXOG EH WKH 3UHVLGHQW RI 1LJHULD Neither the PDP nor the APC nor Buhari nor Obasanjo should dictate to the people who should be their President in 2023. The Nigerian people are in a better position to determine who should be their President in 2023. According to Lord Acton, “the fate of every democracy, of every government based on the sovereignty of the people, depends on the choices it makes between these opposite principles, absolute power on one hand, and on the other, the restraints of legality and the authority of tradition”. The American founding fathers aptly recaptured this ageless truth when they said many years ago that, “governments are instituted among men deriving their just powers from the consent of the governed”. By voluntarily entrusting a few elected people with the responsibility of governing WKHLU DͿDLUV WKH SHRSOH KDYH QRW UHOLQTXLVKHG WKHLU power. In short, the people are the repository of political power. But unfortunately, the Nigerian people are not living up to their bidding as sovereigns in presidential democracy. To begin with, most Nigerian voters are not politically enlightened enough to evaluate the political issues at stake and the character of the candidates running for political posts before casting their votes on Election Day. My learned friend, Andy, strongly argues, and I agree with him, that the level of political illiteracy and stupidity is so high in Nigeria that if perchance President Buhari presents himself for reelection in 2023 some voters would still sheepishly

and blindly vote for him on Election Day. So, the Nigerian people are their own enemies otherwise why should the ordinary Nigerians who gossip on WhatsApp, Facebook, Twitter and other social media platforms that Nigeria has been captured by political fraudsters, thieves and never-do-wells still be discussing the possibility of any fraudsters, thieves or never-do-wells emerging as President of Nigeria in 2023? What is wrong with some of us in Nigeria? Having seen the monumental ruin which has overtaken Nigeria as a result of President Buhari’s misrule, why are some of us still beating the drum for the emergence RI 7LQXEX 5RFKDV 2NRURFKD :LNH (PHÀHOH Orji Uzo Kalu, Fayose or Amaechi as the President of Nigeria in 2023? I repeat: what is really wrong with some of us in Nigeria? $UH WKHVH GUXPPHUV VXͿHULQJ IURP D NLQG RI political spell or what? In common parlance, it is said that a people get the kind of leaders they deserve, meaning that an irresponsible political followership begets an irresponsible SROLWLFDO OHDGHUVKLS RU SXW GLͿHUHQWO\ D IDLOHG political followership begets a failed political leadership. In fact, there is a correlation between political leadership and political followership. Political leadership is a coH΀FLHQW RI SROLWLFDO IROORZHUVKLS 4XDOLW\ leadership is a functional relation of a quality followership. Ebenebe, for instance, is comparatively an unknown town tucked away in the Awka North Local Government Area of Anambra State. The town has an estimated population of about 45,897. Prior to the last Anambra Governorship Election, Ebenebe was comparatively an obscure town hardly spoken about and hardly mentioned in conversations. But the town shut into the limelight during the last-concluded Anambra Governorship (OHFWLRQ +RZ" 7KH (EHQHEH ZRPHQ GHÀDQWO\ UHMHFWHG WKH 1 EULEHV RͿHUHG WR HDFK RI them by one of the political parties to vote against their consciences. The Ebenebe women voters, like most Nigerian voters, are poor, hungry and dejected. But they preferred to vote according to the consciences: they voted for Professor Chukwuma Soludo who later won the Governorship Election. Instead of accepting the N5, 000 bribes, the women stood their ground and voted in accordance with their consciences. The Ebenebe women have demonstrated that money cannot buy the consciences of voters during elections. The Nigerian voters should emulate the uncommon integrity of the Ebenebe women voters. If the Nigerian voters cannot vote out the clueless, thieves and vagabonds in power, then they should stop complaining that their leaders are making a show of their stupidity and wickedness in power. If Nigeria were a country in which the voters vote with their heads and hearts during elections, President Buhari would not have come to power in 2015 let alone be returned to power in 2019 despite KLV GLVDVWURXV RXWLQJ LQ KLV ÀUVW WHQXUH So the Nigerian voters should learn to vote wisely on Election Day. Prior to casting WKHLU YRWHV WKH\ PXVW ÀUVW VLW GRZQ DQG DVN themselves the following basic questions: Why should I vote for a candidate who doesn’t have the foggiest idea that the essence of wielding power is to render service to the people? Why should I vote for a physically-derailed and mentally-exhausted old man who uses political power to convert the State into his SHUVRQDO ÀHIGRP"

Ekwowusi writes from Lagos

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T H I S D AY WEDNESDAY APRIL 6, 2022

Zoning gives every component of the union a sense of belonging, argues UCHE OFFIAH

ZONING FOR PEACE AND UNITY =RQLQJ LV D SULQFLSOH ZKHUHE\ SROLWLFDO R΀FHV DUH VKDUHG DPRQJ WKH FRPSRQHQW sections of a country, nationalities, states or

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GRACE ACHUM and NDUKA UZUAKPUNDU contend that Bola Tinubu deserves to be the next President

TINUBU’S PRESIDENTIAL AMBITION 7KHUH LV D WLGH LQ WKH DͿDLUV RI PHQ :KLFK WDNHQ DW WKH ÁRRG OHDGV RQ WR IRUWXQH 2PLWWHG DOO WKH YR\DJH RI WKHLU OLIH LV ERXQG LQ VKDOORZV DQG LQ PLVHULHV 2Q VXFK D IXOO VHD DUH ZH QRZ DÁRDW $QG ZH PXVW WDNH WKH FXUUHQW ZKHQ LW VHUYHV RU ORVH RXU YHQWXUHV – William Shakespeare By Shakespearean strategic calculation, the tide in the Nigerian politics has moved, almost with a natural gale force to the South, where the next president of the country should come from. There are not many political juggernauts ÁRZLQJ ZLWK LW %XW RI DOO WKH YLVLEOH RQHV $VLZDMX %ROD $KPHG 7LQXEX -DJDEDQ ² ex-senator and ex-governor of Lagos State ² LV DERXW WKH RQO\ RQH ZKRVH SURÀOH LV PRVW assuring for the post of the next president of WKH FRXQWU\ LQ 7LQXEX LW·V WUXH KDV EHHQ QXUVLQJ WKH MXVWLÀHG DPELWLRQ WR EH 1LJHULD·V SUHVLGHQW VLQFH WKH ELUWK RI WKH )RXUWK 5HSXEOLF LQ +LV DPELWLRQ WR EH HOHFWHG as the President and Commander-in-Chief of WKH $UPHG )RUFHV RI WKH )HGHUDO 5HSXEOLF RI Nigeria, in the 2023 polls, is one that is made RI VWHUQHU VWXͿ 7LQXEX·V SROLWLFDO DOOLHV ² DQG WKH\ DUH quite an intimidating crowd of experienced JUDVVURRWV SROLWLFLDQV PRELOL]HUV RI YRWHUV DQG KLV UHFRJQL]HG XQEOLQNLQJ SROLWLFDO IRHV ² DUH LQ RQH DFFRUG WKDW -DJDEDQ ² ´WKH /LRQ RI %RXUGLOORQµ ² ZDV RQH RI WKH IHZ 1LJHULDQV ZKR RͿHUHG VRUHO\ QHHGHG PRUDO DQG ÀQDQFLDO support, throughout the pro-democracy VWUXJJOH DW KRPH DQG DEURDG IURP WKH PLG · V WKDW HYHQWXDOO\ IRUFHG WKH PLOLWDU\ WR KDQG power over to democratically elected civilians, LQ ,W VRPHWLPHV LV VDLG WKDW LI LW ZHUHQ·W for the progressive and strategic roles of a seasoned and award-winning generalissimo SOD\HG E\ -DJDEDQ WKH )RXUWK 5HSXEOLF ZRXOG KDYH EHHQ SDLQIXOO\ XQUHDOLVWLF :KDW WKDW WUDQVODWHV WR LV WKDW LQ IDLUQHVV WR 7LQXEX and, truly, in recognition of the role he played in the war theatre to compel the military to KDQG SRZHU RYHU WR HOHFWHG FLYLOLDQV LQ IXWXUH KLVWRULDQV ² EH WKH\ RI GLVSDVVLRQDWH FRQVHUYDWLYH KXH RU OLEHUDO WHPSHU ² ZRXOG HXORJL]H KLP 7KLV LV DQ RSHQ VHOI HYLGHQW truth. Some commentators and political scientists, who have studied the strategic role and SROLWLFDO VLJQLÀFDQFH RI 7LQXEX LQ WKH WHGLRXV VWUXJJOH LQ WUHQFKHV LQ 1LJHULD DQG DEURDG ZKLFK FXOPLQDWHG LQ WKH ELUWK RI WKH )RXUWK 5HSXEOLF DUH RI WKH YLHZ WKDW -DJDEDQ LV V\QRQ\PRXV ZLWK )RXUWK 5HSXEOLF 7KH\ SRLQW RXW WKDW WKHUH·V QR RWKHU LQGLYLGXDO RI 7LQXEX·V SROLWLFDO VWDWXUH LQ WKH UDFH WR EH WKH next President of Nigeria. ,W ZDV LQ UHFRJQLWLRQ RI WKDW XQLTXH SUR GHPRFUDF\ UROH LQ WKH LQWHUHVW RI WKH )RXUWK 5HSXEOLF WKDW 7LQXEX KDV UHDSHG ZHOO deserved, massive harvests as a senator and Governor of Lagos State. Those who voted for -DJDEDQ LQ WKRVH VHQDWRULDO DQG JXEHUQDWRULDO races, did so in expression of gratitude to him IRU KLV VHOÁHVV DQG OHDGLQJ UROHV LQ EULQJLQJ DERXW GHPRFUDF\ LQ 0DQ\ RI VXFK SHRSOH in Lagos State, for instance, say they are ready WR YRWH PDVVLYHO\ IRU KLP DV KH DVSLUHV WR EH 1LJHULD·V QH[W SUHVLGHQW FRPH 0RVW RI 7LQXEX·V SROLWLFDO RSSRQHQWV LQ the race for the presidency, come 2023, know full well, that they are far from deserving for consideration to run for the presidency. And WKDW·V EHFDXVH WKH\·UH PDLQO\ RSSRUWXQLVWV RU unrepentant parasites, who want to reap the IUXLWV RI GHPRFUDF\ LQ WKH )RXUWK 5HSXEOLF whose seeds they never sowed; whose stem and leaves they never cared to feed with needed moisture and water; and whose roots, stems and leaves they never teamed up with 7LQXEX ² VXSSRVH WKH\ ZHUH ODWHFRPHUV WR

WKH YLQH\DUG ² WR SURWHFW IURP UDYHQRXV DQG destructive rodents, especially at night. $OO WKHVH ² DQG PDQ\ PRUH WKDQ DOO WKHVH ² WHQG WR MXVWLI\ WKH UHDVRQLQJ WKDW LW ZDV D grave political error, on the part of Nigerian voters, not to have voted for genuine proGHPRFUDWV OLNH 7LQXEX DW DOO WKH WKUHH WLHUV RI JRYHUQPHQW DW WKH LQFHSWLRQ RI WKH )RXUWK

5HSXEOLF Perhaps, still, there was the factor of the military, which used state resources WR VSRQVRU VXFK VKDPHOHVV RSSRUWXQLVWV ² FKLHÁ\ WR ZDUG RͿ JHQXLQH SUR GHPRFUDF\ warriors from featuring prominently as the captains of the new democratic era. 7KRVH ZKR DUH FDPSDLJQLQJ ² XQÁLQFKLQJO\ ² IRU D 7LQXEX SUHVLGHQF\ OLNH WKH VZDUPLQJ PHPEHUV RI 6RXWK :HVW $JHQGD IRU $VLZDMX 6:$*$ VD\ WKH\ DUH LQGHHG LPSUHVVHG E\ KLV VWUDWHJLF DQG FUXFLDO UROH LQ WRSSOLQJ the wasteful and corrupt Peoples Democratic 3DUW\ 3'3 LQ As a seasoned political strategist, who was desirous of a truly democratic change, in the 1LJHULDQ SROLWLFDO VSDFH 7LQXEX WRRN WKH $FWLRQ &RQJUHVV RI 1LJHULD $&1 LQWR DQ DOOLDQFH ZLWK WKH $OO 1LJHULD 3HRSOH·V 3DUW\ $133 DQG &LWL]HQ·V 3URJUHVVLYH &RQJUHVV &3& :KHQ VZHHW YLFWRU\ FDPH IRU WKH QHZ DOOLDQFH ² $OO 3URJUHVVLYHV &RQJUHVV $3& ² 7LQXEX ZDV \HV QDWXUDOO\ MXELODQW MXELODQW WKDW WKH LQFXPEHQW DQG FRUUXSW 3'3 KDG EHHQ ERRWHG RXW DIWHU LWV PLVSODFHG DQG VKDOORZ ERDVWIXOQHVV WR JRYHUQ 1LJHULD IRU \HDUV +H KDV VLQFH WKDW KLVWRULF YLFWRU\ HDUQHG WKH UHVSHFW RI QRW RQO\ WKH $3& EXW DOVR D majority Nigerians in other political parties. ,W H[SODLQV ZK\ KH ZDV PDGH WKH 1DWLRQDO &KDLUPDQ RI WKH $3& 7LQXEX GHVHUYHV DV D FDVH RI PHULW WR EH WKH QH[W 3UHVLGHQW 7KH past PDP presidents and vice-presidents of Nigeria were imposed on the country not EHFDXVH WKH\ WRRN DFWLYH SDUW ² DV GLG 7LQXEX ² LQ WKH HQHUJ\ VDSSLQJ DQG SDWULRWLF VWUXJJOH IRU WKH HPHUJHQFH RI WKH )RXUWK 5HSXEOLF 7LQXEX ² IRU KLV JOLVWHQLQJ SUR GHPRFUDF\ SURÀOH ² RXJKW WR KDYH EHHQ WKH ÀUVW GHPRFUDWLFDOO\ HOHFWHG 3UHVLGHQW RI 1LJHULD·V )RXUWK 5HSXEOLF :KDWHYHU WKH PLOLWDU\ GLG WR WKH FRQWUDU\ ² DQG WKLV LV WUXH ² ZDV GHFLGHGO\ WR VSLWH KLP IRU GDULQJ DQG ÀULQJ IURP WKH trenches in favour of democracy. Today, the political tide in the country, as 7LQXEX KDV ULJKWO\ UHDG IDYRXUV KLV MXVWLÀHG SUHVLGHQWLDO DPELWLRQ +H KDV GHFLGHG ² DV DQ Olympic gold medalist, of the Shakespearean PRXOG ² WR WDNH DGYDQWDJH RI LW $QG DV KH LV VXUH WR EUHDVW WKH WDSH EHIRUH HYHU\ SDUWLFLSDQW LQ WKH FRQWHVW KH ZLOO EH FURZQHG 1LJHULD·V SUHVLGHQW ² WKH VHYHQWK WR EH VR GHPRFUDWLFDOO\ HOHFWHG ² LQ 7KHQ IRU WKH ÀUVW WLPH WKH )RXUWK 5HSXEOLF ZRXOG EH OHG GHVHUYHGO\ E\ VRPHRQH ZKR DFWXDOO\ IRXJKW ² ZLWK KHDUW DQG PLJKW ² IRU LWV ELUWK iiju@yahoo.com

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T H I S D AY WEDNESDAY APRIL 6, 2022

EDITORIAL

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

VIOLENCE AGAINST SECURITY MEN The authorities must do more to stem the high rate of depletion

n one of the latest violence blamed on criminal gangs, some gunmen stormed a police station in Niger’s State Magama district leading to the GHDWK RI WKH 'LYLVLRQDO 3ROLFH 2΀FHU '32 two other policemen and four vigilante members. In similar attack in neighbouring Kebbi State, motorcycle-riding bandits invaded a tomato-processing factory and engaged the police JXDUGLQJ WKH IDFLOLW\ LQ D JXQÀJKW ZKLFK OHG WR WKH death of four policemen and several of the gunmen. In yet another attack in Kanya Village also in Kebbi, 19 security personnel including 13 soldiers were killed, a day after some bandits killed some 57 vigilantes in ambush in nearby Sakaba. But the challenge to security forces is deep, while the tragedy cuts across all security agencies and its nationwide. Indeed, many Nigerians are not only worried by the abysmal failure of the police and other security DJHQFLHV WR HͿHFWLYHO\ GLVFKDUJH WKHLU PDQGDWH EXW they are also increasingly disturbed by the inability of the security agencies to protect themselves from KDUP 7KH ULVLQJ ZDYH RI DWWDFNV RQ SROLFH R΀FHUV and their facilities have become part of the general LQVHFXULW\ DͿHFWLQJ WKH FRXQWU\ ,I WUDLQHG DQG DUPHG ODZ HQIRUFHPHQW R΀FHUV ZKR ZLHOG VWDWH DXWKRULW\ could become easy game for criminals, what chances have ordinary people? In the south, Imo State is perhaps the vortex of violence, recording the highest number of police personnel killed between 2020 and 2021. Last year, WKH VWDWH JRYHUQPHQW UHOHDVHG D OLVW RI R΀FHUV who were murdered, complete with their divisions. Government has repeatedly blamed the secessionist JURXS WKH ,QGLJHQRXV 3HRSOH RI %LDIUD ,32% DQG its militia for the attacks, at least in the Southeast, even if the identity of the gunmen is yet to be ascertained. But the killings did not start today. A former Inspector General of Police, Mr. Solomon

Arase revealed that between January 2014 and April 2016, no fewer than 350 policemen died while discharging their duties. According to Arase, 272 others sustained various degrees of injuries within the same period. Earlier in 2013, the country was treated to the VHQVDWLRQDO PXUGHU RI SROLFH R΀FHUV DQG 'HSDUWPHQW RI 6WDWH 6HUYLFHV '66 R΀FHUV E\ PHPEHUV RI WKH 2PEDWVH &XOW LQ /DÀD 1DVDUDZD State. Till date, there is no information in the public domain whether these criminals were hunted down and prosecuted, a pointer to some structural defects in the security architecture. The bandits across the country are evidently armed through the OLPLWOHVV LQÁRZ RI VPDOO arms and ammunition into the country on a regular basis. The Nigeria police has a total strength of about 370,000, for a population of 200 million, a ratio that is abysmally low for it “to measure up to its law-and-order mandate.” In addition, the force is antiquated and ill-equipped to tackle the current security challenges. A fortnight ago, the Senate tasked security agencies to be proactive in WKH ÀJKW DJDLQVW LQVXUJHQF\ EDQGLWU\ DQG WHUURULVP to prevent loss of lives and property. That is a worn line, said repeatedly with limited impact. But it is disturbing that citizens would turn against the very SHRSOH ZKR DUH SDLG WR SURWHFW WKHP ,W VLJQLÀHV RQ RQH KDQG D EUHDNGRZQ RI FRQÀGHQFH EHWZHHQ WKH people and security agencies of the state and on another, a tendency towards anarchy. The authorities must do more to stem the current rate of depletion by increasing the capacity of the force, equipping it with the modern equipment, and raising their moral. Only recently, there were reports WKDW WKH UDQN DQG ÀOH RI WKH IRUFH PLJKW JR RQ VWULNH on issues relating to welfare. There is a relationship between the well-being of the police and the security of the nation and citizens.

If trained and armed law enforcement oﬃcers who wield state authority could become easy game for criminals, what chances have ordinary people? T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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

LETTERS WAS THE NEW AIRPORT TERMINAL NECESSARY? It is funny how we think in Nigeria and it is evident we major in the minor. The problem with Nigeria is that we always fail to get our priorities right. The new terminal of the Lagos Airport was opened with pomp and pageantry and we have had a lot of complaints about the structural outlay of the project. It remains to be seen when the Airport will open to passengers but the question is: could we have spent the money better and was there any need for a new terminal in Lagos? In retrospect, we could have upgraded and improved on the former terminal and spent the money on education and health care which are the pressing needs of Nigerians. The Muritala Mohammed Airport terminal was built in1979, modelled after Schiphol in Amsterdam. In 1967, Schiphol expanded even further with a new terminal area at its current location. Most of the 1967 terminal

is still in use today. So I ask: if the same terminal built in Schipol is still in use today and it is well maintained, why can’t we maintain what we have and upgrade rather than taking more loans IURP &KLQD WR EXLOG OHVV EHQHÀFLDO SURMHFWV" 7KH ELJ TXHVWLRQ LV :KDW LV WKH FRVW EHQHÀW UDWLR RI the new airport terminal? We must remember we have scarce resources and we must be resourceful in our outlook. Why build new luggage belt when the former luggage belt has become a national disgrace and it has not been repaired? We could have spent money on ensuring that the air conditioners DUH ZRUNLQJ DQG WKH FRUUXSW FXVWRPV R΀FLDOV DUH removed rather than this new fanfare. We must WUXO\ UHÁHFW RQ ZKDW ZH ZDQW DV D QDWLRQ DQG DOways introspect on our priorities. Rufai Oseni, rufaioseni@gmail.com

PDP, BE WISE, READ AKIN OSUNTOKUN What’s that popular catchphrase about Marcel Proust? “Be wise, read Proust.” Who recalls this? 1HYHU PLQG , ZDV DQ DYLG UHDGHU RI \HDUV ROG FXUUHQW HGLWLRQV ZHUHQ·W TXLWH DYDLODEOH EDFN WKHQ DW VWUHHW YHQGRUV· VWDOOV KHUH LQ 1LJHULD 7,0( DQG 1(:6:((. PDJD]LQHV SOXV 7KH (FRQRPLVW thrown in. As recent as the years 2016 to 2018, whilst working the Ahmadu Bello University, Zaria, route, for a due quest, I wholeheartedly became friends with the vendors who sold weeks-old copies of TIME, NEWSWEEK, The Economist, at the second principal entrance gate to the Samaru Campus of this university and I’d have to chase them home sometimes to the Sabon Gari neighbourhood of town to get my supplies. Why wouldn’t President Muhammadu Buhari commit to revitalising Nigerian universities and have his children school here? For liberal-arts majors, they need not go to London universities. You’d be amazed how much TIME et al. magazines can teach you. Anyway, it’s plain vainglory elitism to do name-dropping about London and our prez is inIHFWHG WR KLV PDUURZ 1RZ SROLWLFV 7KH 3'3 SROLWLFDO SDUW\ PXVW ÀJKW KDUG WR ZUHVW SRZHU IURP a lyin’ and artfully cunning administration in 2023. Methinks the PDP can stock its quiver with straight-shooting arrows, so to say, if this political party follows with keen interest the THISDAY Friday back-page columnist, Mr. Akin Osuntokun. There’s a lot to sieve from the thoughtful analyses of Mr. Osuntokun. Especially the April Fools’ Day 2022 revelation that the NNPC was solely responsible for importing toxic petrol into Nigeria at the present. And, who is the Minister of Petroleum? The honorary Londoner? Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

WEDNESDAY APRIL 6, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

FEATURES

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

NGE and Pursuit of Democratic Ethos in Nigeria Recently the Nigerian Guild of Editors held a town hall meeting where speakers provided outlines on how democratic culture can be deepened in Nigeria. The US Ambassador to Nigeria and INEC Chairman, were among the keynote speakers, Olawale Ajimotokan and Folalumi Alaran report

he Nigerian Guild of Editors recently organised a Townhall meeting to build capacity for its members and discuss issues bothering on democracy in the country. The parley themed: “Agenda Setting for Sustainable Development” had in attendance the US Ambassador to Nigeria, Mary Beth Leonard and INEC Chairman, Professor Mahmood Yakubu and some critical stakeholders from the media and the civil society groups. The townhall meeting was the fourth in the series with the first three held in Lagos, Kano and Yola under the NGE and US Embassy capacity building programme for editors. The Chairman of the Townhall meeting and GMD Daar Communication PLC, Tony Akiotu said the event provided an auspicious opportunity for Nigerian editors to do a thorough examination and assessment of the performance of the media in consolidating Nigeria’s democracy. He said the public relies on the media to shape the Nigerian democracy and save it from being dented by political rascality and ineptitude, adding that the public reliance reposes huge responsibility on editors to sharpen their agenda setting role. Sadly, Akiotu admitted some drawbacks and lapses in media agenda setting role informed by polarisation and politicisation of the media that has become negligent in setting the direction in terms of leadership recruitment for Nigeria. He noted that each media organisation feels rather comfortable in taking positions partly on regional, ethnic and sometimes survival consideration. In his remarks, the NGE President, Mustapha Isah, said the outcome of the Townhall meeting was expected to serve as an assessment of the performance of the media and suggest ways for improvement. He said that a free and critical press is essential to the growth and development of democracy adding that the media as a watchdog owes it a duty to monitor government and hold public office holders accountable to the people who elected them. In her remarks, Ambassador Leonard said the participants at the workshop shared a role and responsibility in promoting transparency and accountability, inclusivity and equity, rule of law, and fundamental freedoms. She said the media plays a daily, vital role in reflecting, steering and mobilising public opinion through their reports. “When you write, publish and broadcast thoughtfully, impartially, and with accuracy, your contribution to democracy is profound. When you uncover evidence that unscrupulous individuals have tried to hide or deny, you empower law enforcement and the judicial system. When

General Secretary, NGE, Mr Iyobosa Uwugiaren; NGE President, Mustapha Isah; the US Ambassador to Nigeria, Beth Leonard; and the GMD Daar Communication PLC, Tony Akiotu at the NGE Townhall meeting on agenda setting for sustainable development, held in Abuja you hold politicians to account with well-researched, non-partisan facts, you directly serve the interests of the voting public, and play a vital role in shaping public perceptions about not only those who currently govern, but also about those who wish to govern in the future,” she said. However, she expressed the concern of the US government about the decline in global freedom in Africa in the past 15 years, leading to the rise in political authoritarianism, media self-censorship and growing public mistrust of media. She noted that one way to restore public confidence in democracy was through free and fair elections. She said: “The eyes of the world will therefore be on Nigeria this year and early next year as you prepare to choose a new president and transition to a new government. We were pleased that last week President Buhari signed Nigeria’s long-awaited Electoral Act Amendment Bill into law, ensuring adoption of a number of long soughtafter reforms to the electoral process, including the electronic transmission of election results from polling places”. The US Ambassador also said that trust cannot be nurtured when media houses continue to play favorites and charge varying rates and when the media accept money from self-interested players or malign actors to publish favorable or unfavorable stories.

On his part, Yakubu, who was represented by the National Commissioner and Chairman Information and Voter Education Committee, INEC, Festus Okoye, described the meeting as timely and germane in the light of the signing into law of the new electoral legal framework and the release of the Timetable and Schedule of Activities for the 2023 general election. He tasked the media to isolate and analyse the provisions of the electoral act and subsequently treat the entire law as a compound package for the conduct of election in Nigeria. According to Yakubu, a good knowledge of the law and its provisions will assist in crafting good editorials and holding INEC and the political parties accountable to their implementation. He also called on the media to highlight and analyse the causes and possible solutions to the security challenges in the country and continue to hold government accountable. He said security agencies must also try as much as possible to degrade if not neutralise the security threats and challenges in different parts of the country given that voting and the exercise of democratic mandate may not be the priority of persons enveloped in a climate and atmosphere of fear and anxiety. While conceding that the greater use of technology in the electoral process will to a large extent reduce human interference in the voting, counting and collation process, the commission said it was conscious of the fact that technology does not operate itself and that the human element is ever present. He said INEC will continue to learn from issues and challenges that arise from the deployment of technology and will continue to innovate and

improve on them. “Media managers and editors have a huge role to play in the 2023 general election. The first challenge is to get media to understand the new issues and provisions in the constitutive electoral legal framework. There are fundamental and progressive issues and innovations in the new Electoral Act. "The Commission will organise zonal trainings and workshops for the media on the new issues in the electoral legal framework and practical issues in their implementation. The media must have a working knowledge of the new law, the new innovations and issues in the electoral process to report and report well. "Journalists, editors and media managers must also read and understand the new template for the conduct of elections. Without a good knowledge and understating of the law and its dynamics, the media may not be in a position to perform and perform well,” Yakubu said. He said INEC will continue to rely on the media to get its messages across to the public while remaining open and transparent in the management of elections and upfront in the provision of information. He also tasked the media to name and shame the vote buyers corrupting the electoral process as well name and shame those that deploy violence to the polling units and collation centers. “We must not allow the current regime of electoral impunity to continue. Violence and electoral malfeasance pervade our electoral process because we do not name and shame the perpetrators and they are not brought to book”. Some of the panelists at the workshop included the Head of Department Mass Communication, Baze University, Prof Abiodun Adeniyi; Executive Director YIAGA, Samson Itodo; Country Director Action Aid, Ene Obi and labour leader, Owei Lakemka. Senior Editor, Washington Examiner, David Mark also attended the workshop. In his remarks, Itodo said the country needed an independent INEC to operationalise the current Electoral Act while tasking the media to protect INEC from political interference of the political parties. He said the citizens must demand an agenda for a peaceful and democratic election. Obi called for funding and research for the media and development oriented reportage and with more focus on investigative journalism and training of media to campaign for responsible governance. Fiery unionist, Lakemka said that democracy is not working in Nigeria because of escalating corruption of the members of the National Assembly and other organs of government, who are fond of padding the budget with many bogus items.

African Civil Society, Labour Activists Reiterate Opposition to Water Privatisation Chiamaka Ozulumba

n the occasion of the recent 2022 World Water Day, civil society, labour and community activists under the auspices of Our Water Our Right Africa Coalition (OWORAC) have described the vicious attempt of water privatisers to commodify water in Africa, as the singular biggest impediment to universal access on the continent. According to Director of Programmes Corporate Accountability and Public Participation Africa (CAPPA), Philip Jakpor, the OWORAC is made up of activists from Cameroon, Gabon, Ghana, Kenya, Mozambique, Nigeria, Senegal, and Uganda amongst other African countries with deep threats of privatisation working collaboratively to push back against this new form of colonialism. In a statement released to mark the World Water Day, the coalition said their position stands to counter false ‘solutions’ espoused by the corporate-backed World Water Forum (WWF) which is holding in Dakar, the Senegalese capital, where multinational Suez’s large-scale water privatisation scheme is failing communities and workers. OWORAC and other activists participating in

the Alternative World Water Forum 2022 recognise that the struggle for water is an intersectional, internationalist struggle that needs a solid anti-capitalist, people-centered and feminist orientation. They are also calling on governments and public representatives to stop using the neoliberal full cost-recovery model for water services and to break ties with companies seeking to make profits out of water and to put water under democratic systems and institutions. Well-funded and publicly accountable public water systems are the best way to ensure the availability, accessibility, and affordability of safe water service. In 2021, the OWORAC exposed private water multinationals like Veolia and Suez’s aggressive push, backed up by international financial institutions and enabling governments, to take over Africa’s water systems with the sole purpose of profiteering without recourse to water as a human right. Africa Must Rise and Resist Water Privatisation, a publication by the coalition released during the Africa

Week of Action Against Water Privatisation which held October 10-15, 2021, insist that privatisation of the water sector including those backed by the World Bank, continue to threaten lives, livelihoods, food security, culture, health, education, and the integrity of natural environments in Africa. Privatisation will make it impossible for the continent to meet the Strategic Development Goal 6 which advocates for availability and sustainable management of water and sanitation for all by year 2030. OWORAC identified various examples of failed water privatisations projects on the continent and throughout the world, pointing out that the parading of privatisation of water as a solution to the problem of water availability problem in Africa poses grave dangers to universal access. An example of these failures is in Cameroon, where the government pulled out of a failed privatisation arrangement. Unfortunately, the same government is now considering embarking on another doomed privatisation arrangement under the guise of lack of public financing for the water utility company. "In Gabon, a World Bank-backed privatisation was marred by consistent failures, including poor service and even a typhoid outbreak in

the capital city. When the government ended this privatisation arrangement with multinational Veolia, the corporation took it to international arbitration, with the state ultimately paying tens of millions of Euros in a settlement. Now, the government is exploring re-privatisation of the sector." After ending a long-term urban water privatisation scheme that did not meet the expectations of the population, in 2021 the Mozambique cabinet approved a wide-sweeping privatisation scheme that would cover 19 large urban areas of that country. Mozambican civil society are deeply opposed to the corporate capture of the water sector. Nigerian OWORAC activists also continue to resist the World Bank-promoted ‘’Public Private Partnership’’ (PPP) model of water privatisation in the country, sometimes referred to as the more innocent sounding but equally insidious “private sector participation.” Ghana, Kenya, Senegal, and Uganda are also countries where the threat of privatisation looms. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

FEATURES

A Digital Africa: What The Future Holds Adim Isiakpona

t is undeniable that digital infrastructure has developed significantly across the African continent in the past ten years. Digitising has moved from a secondary tool to a survival game-changer and a key part of achieving business goals. The more recent leaps in fintech, e-commerce, mobile payments and digital media consumption are evidence of a rapidly growing digital economy and the impact is seen to transform everything from elections to agriculture, creating bigger market opportunities and attracting investments to the region. The growth is commendable but there is still a lot of headroom to cover and the continent must ready itself to maximise the potential dividends of these growth areas. Here are some important digital trends that will shape the advancement of Africa’s digital transformation: Connectivity & Internet adoption remains the major driver of the continent’s digital acceleration The gap between those who have access to technology and the means to use it and those who do not, will translate into whether or not a person can earn a living and access private and public sector services and benefits, which will increasingly be delivered in a digitalonly form. If a large majority of Africans cannot access these services, many digital development gains could be stunted. African governments and large telecommunications corporations are focusing on upgrading internet infrastructure: more than 30 African governments (55% of the continent) have procured 3G networks, while more than 20 countries (36% of the continent) have built fibre-optic networks and e-government platforms. We are also seeing large telco scale 4G network infrastructure and roll out 5G networks. Today, at least a quarter of Africa’s population has internet access, a nearly fifty-fold increase in internet usage since the turn of the millennium. By 2030, the continent could achieve rough parity with the rest of the world when three-quarters of Africans are projected to become internet users. The economic potential is enormous: according to a 2020 report by the International Finance Corporation (IFC), the Internet is projected to contribute about $180 billion to Africa’s economy by the year 2025. This means that Africa’s internet economy will remain one of the largest investment opportunities on the continent for the foreseeable future. Urbanisation will contribute to Africa’s rapid digital growth 68 cities in Africa, each home to over one million inhabitants in 2020, are projected to increase to 85 by 2025. By then, Africa’s urban population is predicted to grow by 190 million people, meaning that just under half (45%) of all Africans will be living in a city. In some countries, such as Nigeria, Ghana, and Angola, the proportion of urban residents will increase to over 80% of their total population by 2050, when 800 million more Africans will have moved to urban areas. In Africa’s large metropolitan areas, the amount of money spent on consumer goods and services is typically 79% higher than the national average. Given better connectivity in urban areas, those that choose to relocate to cities have more access to innovative technologies. This can broaden employment opportunities and create larger markets for commerce, driving financial and social inclusion for more people. Young people are at heart of Africa’s digital & economic growth In any economy, the youth population is vital as they represent energy, creativity, and innovation. Africa is especially fortunate as the continent has the world’s largest youth population; around half of its population is under the age of twenty. This is evidently reflected in the number of youth-led innovations across the

Google West Africa Industry Manager, Adim Isiaknona

continent and how critical they are being more than ever before. Regional and international organisations also recognize this potential. The Youth Alliance for Leadership and Development in Africa and the World Bank’s Youth Transforming Africa Initiative have held regular online roundtables on how Africa’s youth can respond to the COVID-19 crisis. At a national level, in Rwanda, Youth Voices Rwanda leverages social media networks to coordinate these responses. Africa’s young demographic is also fuelling consumption. Young African consumers are becoming more affluent and globalised as they also grow to become household decisionmakers. The proportion of the population that is of working age will continue to rise; by 2050, Africa will have the only decreasing dependency ratio globally. This boosts the continent’s competitiveness in both skilled and unskilled labour and will lead to increased spending power for consumers. By 2030, Africa is expected to be home

to over 1.7 billion consumers with a total consumer expenditure of $2.5 trillion. Tech startups are building a new Africa & future prooﬁng it along the way Leading the innovation drive across multiple markets in Africa are verticals like Fintech, Blockchain, e-Commerce, Healthtech, Media and Entertainment, Local Transportation and e-Logistics. Fintech startups continue to be the most funded startups in Africa with the sector receiving $836 million across 65 deals in 2019 and $379 million across 42 deals in 2018, resulting in a 120% growth in funding and a 55% growth in deal volume YoY. The fintech sector is growing in Africa, in part, to serve the population that is currently unbanked and financially excluded. The rise of these solutions and access to mobile technology are driving demand and growth in this sector. Startups such as Flutterwave are providing platforms and APIs for the next generation of African startups Even before COVID-19 led to an increase in e-commerce on the continent, Africa had been witnessing growth in the sector. The industry has shown incredible growth in the past decade, resulting from an improved payment-processing landscape, a rise in mobile technology, and

"Africa’s young demographic is also fuelling consumption. Young African consumers are becoming more aﬄuent and globalised as they also grow to become household decision-makers"

mobile money tech adoption. Generally, the rise of companies like Nigeria’s Jumia & Helium Health, Uganda’s SafeBoda, Kenya’s Twiga Foods, and South Africa’s Takealot reveal a trend of the sectors expected to contribute a majority of the $712 billion that Africa’s internet GDP is estimated to add to the economy of the continent by 2050. From where I stand, there is much to be proud of as an African working in the digital technology space and living in Africa. There is however a lot of work still to be done to keep moving the needle on Africa’s digital transformation journey. It is a collective effort that requires organisations, government bodies and individuals to reflect inwards and make the needed change and adjustment to being a part of this digital journey. Private and public sectors must invest and adopt digital transformation as a way of working, not just a trendy buzz word. A partnership between these sectors to scale adoption and co-create digital and technological enabling policies is integral to drive sustained digital growth on the continent. -Adim Isiakpona is a seasoned sales and marketing leader. He Heads sales at Google in West Africa and has been at the company since 2018. Today, his efforts are largely focused on accelerating digital transformation for customers in Africa which has led to incremental growth in Google’s Ad revenue over the course of four years. His marketing experience spans from his role as Intel’s Head of Marketing, Communication and Programs for Africa, Middle East & Turkey to leading Marketing and Communication for Hewlett Packard West Africa.

IMAGES

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

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

L-R: Vice Patron of the Nigeria-Britain Association (N-BA), Philip Hall OBE, and President of the N-BA, Abimbola Okoya, during the Thanksgiving Service for late His Royal Highness, Prince Philip, Duke of Edinburgh, held at the Westminster Abbey, London, United Kingdom…recently

L-R: Vice Chairman, SPE Nigeria Council, Mr. Felix Obike; Chairman, SPE Nigeria Council, Prof. Olalekan Olafuyi; Executive Secretary/CEO, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote; and Chairman, Petroleum Technology Association of Nigeria (PETAN), Mr. Nicolas Odinuwe, during the 2022 Oloibiri Lecture Series and Energy Forum (OLEF) on ‘Global Energy Transition Implications on Oil and Gas Investment’, organised by the Society of Petroleum Engineers, Nigeria Council, in Abuja… recently

L-R: General Manager, Marriot Hotels, Judi Janse Van Rensburg; Chief Executive Oﬃcer, Sifax Group, Taiwo Afolabi; and Founder, Bon Hotel Safron, Bayo Fatusin, during the ‘soft opening’ of Hotel Safron in Lagos... recently

L-R: Managing Director/CEO, Bank of Industry (BoI), Olukayode Pitan; Minister of Women Aﬀairs, Pauline Tallen; Minister of Finance, Budget and Planning, Zainab Ahmed; Minister of Industry, Trade and Investment, Adeniyi Adebayo; and Governor, Central Bank of Nigeria (CBN), Godwin Emeﬁele, during the inauguration of BoI Tower 2 in Abuja...recently PHOTO: GODWIN OMOIGUI

L-R: Newly-wed couple, Mustapha Ayinde Mobolaji, and his bride, Memunnat Funmilayo Ubaji, during their Nikkai/reception ceremony held in Sango-Ota, Ogun State...recently PHOTO: FUNKE OLAODE

L-R: Co-Chief Executive Oﬃcer, Konga, Nick Imudia; Managing Director/CEO, Airtel Nigeria, Surendran Chemmenkotil; and Chief Commercial Oﬃcer, Airtel Nigeria, Godfrey Efeurhobo, during the signing ceremony of Memorandum of Understanding (MoU) between Airtel Nigeria and Konga in Lagos...recently PHOTO: DARE IBIRONKE

Presidential aspirant of the Peoples Democratic Party (PDP), Dr. Abubakar Bukola Saraki, after a meeting with the PDP State Youth Leaders from the 36 states of the federation and the six Zonal Youth Leaders in Abuja... recently

WEDNESDAY APRIL 6, 2022 • T H I S D AY

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WEDNESDAY APRIL 6, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

EDUCATION UNILAG Flagship Law Class JAMB CBT: Students Decry Dysfunctional 80-83 Marks Reunion Centre, Post-UTME Hiccups

The 1980-1983 set of the Faculty of Law, University of Lagos (UNILAG) Alumni Association, will be celebrating its 13th to 15th combined annual reunion in Lagos from April 8-10, 2022. Tagged ‘Eko 2020-2022’, the reunion will hold at The Radisson Blu Hotel, Ikeja GRA, Lagos. Highlights of the event with the theme ‘Celebrating 40 plus years of Friendship’ will start with a welcome party on April 8, while the Annual General Meeting (AGM) will be held on April 9. The reunion will end with a grand finale dinner on the same day. For Christians, there will be a thanksgiving service on April 10 at the Redeemed Christian Church of God, Rose of Sharon, Ikeja GRA. Muslim members will hold prayers at the Raddison Blu Mosque within the Radisson Blu Hotel Premises. A release jointly signed by the Chairman, Local Organising Committee, Justice Idowu Alakija and the National Publicity Secretary, Francis Effanga, stated that the event would have in attendance all members of the UNILAG

Flagship law class, both at home and abroad. Among expected guests are the class’ former lecturer on Law of Evidence, now the Vice President of Nigeria, Prof. Yemi Osinbajo; the Speaker of the House of Representatives Femi Gbajabiamila, a member of the Flagship Law Class, and Governor Babajide Sanwo-Olu. The Class President, Justice Mobolaji Ojo, who will hand over to a new president at the AGM, said the Eko 2020 to 2022 reunion would provide a unique opportunity for the closely-knit flagship class to celebrate and meet again after almost three years due to COVID-19 pandemic. It will also give the class another opportunity to discuss latest legal and other social developments from around the world and seek ways of assisting the Law Faculty. Activities for the reunion week starts on April 6 with a courtesy visit to the Faculty of Law for a meeting with the current dean and the faculty management and a visit to the alumni president, Dr. John Momoh

Becky Uba Umenyili

The newly introduced computerised examination system of the Joint Admission and Matriculation Board (JAMB) tagged CBT (Computer-Based Test) which organises the Unified Tertiary Matriculation Examination (UTME), has since its commencement in 2015, proven to be a more modern and appropriate form for the annual exercise but yet leaves much to the yearnings of affected students and the academia in general. JAMB introduced CBT to tackle exam malpractice and facilitate prompt release of results. CBT centres are required to have a minimum of 250 desktop computers or laptops with 10 per cent backups in not more than two rooms or halls; provision of an individual cubicle for students with a specific size for conducive

participation. THISDAY spoke to students and stakeholders on the CBT realities. “This is my second attempt at the JAMB exam. I must state that the first attempt was ok but needs a lot of adjustment,” said Oluokun Oluwatimi, a UTME candidate who lamented the incessant power failure during last year ’s examination, leading to distractions and delays. Miss Happiness Akambi stated that since the JAMB began using CBT for UTME, the government should make CBT centres have separate computer systems reserved only for CBT examinations. Examiners are accused of not properly instructing the exam candidates on using the computers. Chidera Umenyili lamented the pitiable state of some students, who did not know that the spread-

sheet of the examination on the computer system contains the whole four papers each student is required to write, with many focusing on only one paper in error. Many students answered only the questions of one paper (unknown to them that other papers were on the same page of the spreadsheet on the computer screen) and clicked the submit button. The distance to cover to get to a CBT centre is another issue. Habeeb Ahmed cried foul about the long distance to cover before getting to examination centres from his home. “You may leave the house early but cannot fly if road traffic is congested and no one wants to arrive at the exam centre panting,” he pointed out. The post-UTME test is yet another fishbone that gets stuck in the throats

of not a few candidates. “I had a high score in my UTME which should ordinarily make me secure admission, but because of the low score I got in the post-UTME, I was refused admission and had to repeat the JAMB examination,” another candidate, Anita Sunny, explained. Tertiary institutions organise the post-UTME. The call for it to be scrapped is supported by the assertion that it makes JAMB and admission too rigorous and frustrating to students and even parents and guardians who struggle through the process to get their children and wards admitted for higher learning into the affected institutes. This is more so when the post-UTME has a combination of subjects unrelated to students’ choice of course.

SUBEB Chairman Assesses Schools’ Infrastructure, EdoBEST Compliance Following the successful graduation ceremony of EdoBEST induction trainees, the Chairman, Edo State Universal Basic Education Board (Edo SUBEB), Mrs. Ozavize Salami, has visited 16 schools to assess the state of infrastructure and level of compliance with the EdoBEST pedagogy. The visit, which covered selected schools in Egor, Ovia North East, Oredo and Ikpoba Okha local government areas, marked the beginning of a series of state-wide visits to give Edo SUBEB first-hand insight into the state’s JSS infrastructure and management with a view of improving the system. In November 2021, the Edo State Ministry of Education brought JSS management and administration under Edo SUBEB as a major step in

the JSS disarticulation process. After that, a comprehensive baseline assessment was carried out to ascertain students’ level of competence in English, Mathematics and General Studies ahead of wide-scale intervention by Edo SUBEB. In February 2022, a batch of 1,859 teachers and principals from Junior Secondary Schools across Edo underwent a 10-day training to prepare them to deliver lessons and manage their schools using the EdoBEST pedagogy. Most principals and teachers in the schools visited reported that their pupils are learning better while classrooms are being managed better. Students who were interviewed also expressed their preference for the new method of teaching and learning.

Some UTME-CBT candidates

Corona College of Education Urges Curriculum Review, Matriculates 239 Students Uchechukwu Nnaike

The Corona College of Education (CCED) has called for a review of the curriculum of teachertraining institutions in the country to keep teachers abreast with the changing times. The Provost of the college, Dr. Olajumoke Mekiliuwa, stated this at

the 2021/2022 matriculation ceremony for 239 NCE and PDE students in Lagos. She regretted that there seems to be a disconnect between what is offered in the classroom and what is needed in the society. She said the children of the 21st century are not like those of the past, they are far ahead of even their teachers.

She said the gap can be bridged by equipping teachers with the requisite technological skills and improving their knowledge base to position them ahead of the students. She also stressed the need for teachers to see the teaching and learning process as a collaboration between teachers and learners.

Mekiliuwa also called on the government to improve funding of education and teachers’ incentives. She said improved funding would translate to better learning facilities. She also called for the extension of Tertiary Education Trust Fund (TETFund) intervention to private institutions in academic staff training and

sponsoring of academic programmes. The provost assured the matriculating students of the college’s continued commitment to their academic growth, successful completion of their studies, and continuous improvement of its academic brand. She stressed the need for them to collaborate and build

new relationships for academic progress. In his matriculation lecture, ‘The Seven Star Teacher ’, Mr. Akin Akinpelu urged teachers to demonstrate expertise and be models to their students. He also advocated regular training and retraining of teachers to perform optimally.

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

EDUCATION

Africa’s Top 18 Maths Champions MTN Foundation Awards Converge for 2022 Cruxlearning Scholarship to 370 Outstanding Students Reality TV Contest Funmi Ogundare

Funmi Ogundare

Eighteen SS2 students have been shortlisted for the maiden edition of Cruxlearning Mathematics Contest Africa (CLMCA), a reality TV competition designed to demystify Mathematics, identify and reward outstanding students across the continent for their brilliance in the subject and social skills.

They were shortlisted from among 10,000 students from 24 African countries who sat for the online qualifying exams and will be competing for $10,000 worth of university scholarships and the bragging rights as Africa’s Math champion from April 3 to May 1, 2022. The top 18 are expected to participate in different daily activities and face evictions. The General Manager of

JustMedia, Mrs. Ogugua Dopamu, described CLMCA as a creation of many years of working within the educational space in Africa. “Over the 29-day period, these top 18 mathletes will hang out at the ‘Mathslounge’ with weekly eviction shows (a quiz contest) every Sunday during the four-week transmission,” she said. Cruxlearning Mathematics contest Africa will be

available daily to millions of viewers across the world @ CruxlearningTV social media channels (YouTube, Facebook and Instagram) and DStv Africa Magic Family Channel 154 Monday to Friday. CLMCA is supported by Cruxlearning, a safe and convenient e-learning platform that offers teaching and continuous evaluation for primary and secondary school students.

Lagos Partners Foundation to Establish School in Badagry Community In partnership with the Dream School Foundation, a nongovernmental organisation, the Lagos government has established a new secondary school in the Tohon community, Badagry, to give students access to educational opportunities. Speaking at the commissioning of a twin block of 12-unit classrooms, including

a staff room, borehole, toilet facility, library and laboratory, the Commissioner for Education, Mrs. Folasade Adefisayo, commended the foundation for partnering with the government to establish the school for the children in the community. Adefisayo, represented by the Permanent Secretary, Ministry of Education, Mr.

Abayomi Abolaji, stated that the Babajide SanwoOlu administration valued collaboration and an impactful public-private partnership as a vital tool in the Lagos State Education Transformation Plan.She emphasised that the Dream School Foundation’s intervention supported the commitment of Lagos state to provide quality education

and a conducive learning environment in all public schools. Earlier in her remarks, the Founder/CEO of the Dream School Foundation, Mrs. Dena Grushkin, who was represented by the Director, Mr. Suru David Ojo, commended the visible efforts of the state government in the education sector.

It was a celebration as MTN Foundation awarded scholarships to 370 academically brilliant visually impaired students and others from less privileged backgrounds studying science and technology-related courses, and any other discipline in public tertiary institutions, across the country. A breakdown of the recipients showed that 300 are studying science and technology-related courses, 60 are visually impaired, and 10 have the best UTME result in 2021. Graduating scholars who made first-class honours were also recognised. The scholarship was part of the organisation’s social investment mandate. Speaking at the award ceremony held at the Muson Centre, Lagos, MTN Foundation Director, Mr. Dennis Okoro described the programme as a celebration of excellence as exemplified by the students. “So far, MTNF has awarded scholarships worth N3 billion to 4,212

students,” he stated. “We are humbled by the opportunity to play a part in shaping Nigeria’s future through education, investing in the lives of tomorrow’s leaders and providing them with an opportunity to pursue their dreams despite financial limitations.” Chief Marketing Officer, MTN Nigeria Plc, Adia Sowho, congratulated the students, saying they should network with people as they never can tell where they may find themselves tomorrow. The President of Project Management Institute (PMI), Mr. Paul Omugbe, admonished them to be equipped with the right information and knowledge saying that they need to have a positive mindset and stay focused as this is the only way they can be successful. Upon graduation, each scholar will participate in the MTNF skill up training to ensure that they are well equipped to compete and add value to Nigeria’s labour market.

9mobile Trains 100 Teachers on Innovative Teaching Skills

L-R: The President, Project Management Institute (PMI), Paul Omugbe; Director, Science and Technology, Lagos State Ministry of Education, Grace Akinfoyewa; Executive Secretary, MTN Foundation, Odunayo Sanya; Director, MTN Foundation, Dennis Okoro; Chief Marketing Oﬃcer, MTN Nigeria, Adia Sowho; and Senior Special Assistant on Education to the Governor, Lagos State, at the MTN Foundation scholarship award and induction ceremony, in Lagos... recently

IPCentre Awards Scholarships to Polytechnic Students Kemi Olaitan in Ibadan

Three students of Federal Polytechnic, Ukana, Akwa Ibom and Port Harcourt Polytechnic, Rivers, who emerged overall best at the recently held psychometrics examination, have been awarded a scholarship by the International Psychometric Centre (IPCentre). The scholarship was a fulfilment of the initial set goal of

the institution to encourage any student that emerges best in the psychometrics studies across all institutions taking the course in Nigeria. The centre’s primary focus is on the tertiary education sub-sector of the education sector, where it designs and integrates detailed psychometric studies curricula as separate general studies courses into the existing benchmark minimum

academic standards for all classes of tertiary institutions in Nigeria. A statement by IPCentre spokeswoman, Patience Udoh, said a student of Port Harcourt Polytechnic, Obia Goddwell and two computer science students of Federal Polytechnic Ukana, Sunday Blessed Nathaniel and Effiong Asuabiat Ime, received N100,000 each. The Rector of Federal

Polytechnic Ukana, Ven. (Dr.) OgbonniaIbe-Enwo, in his remarks, thanked the centre during the presentation of the cheque, chaired by Otunba Abimbola Mosobolaje Davis, for deeming it fit to encourage the students with scholarship initiative. The Deputy Rector (Academics) of Port Harcourt Polytechnic, Dr Moses Neebe, representing the rector, lauded IPCentre for the good gesture.

Following a successful maiden edition in Lagos, 9mobile has organised a one-day train-the-trainer workshop for teachers in Kano in partnership with the Kano State Ministry of Education. The workshop is one of 9mobile’s efforts to strengthen education, improve child school enrolment and ensure that teachers are abreast of current information to manage and influence the upcoming generation of students to be future agents of positive change. The facilitator at the workshop, Abdalla Uba Adamu, a professor of Media and Cultural Communication and immediate past Vice-Chancellor of the National Open University of Nigeria (NOUN), spoke on promoting school enrolment and retention through innovative teaching methods and class management. The Commissioner for Education, Muhammad Sunusi Saidu Kiru, represented by the Executive Secretary of the Kano State

Library Board, Dr. Ibrahim Ahmad Bichi, challenged the teachers to practise what they had learnt. Commenting on the workshop, the Executive Director, Regulator and Corporate Affairs, 9mobile, Mr. Abdulrahman Ado, represented by PR Lead, 9mobile, Chineze Amanfo, remarked that 9mobile remained committed to prioritising education and will continue to invest in initiatives impacting positively on the development of the sector. “Education is dear to us, and the teachers are also dear to us, which is why we started this programme last year with a pilot edition in Lagos,” stated Ado. “The feedback was amazing and we decided to bring this to Kano as well. As an ICT and communication company, we take care of the communication needs of our customers, so it is important to do this so that the communication gap between the teachers and students is bridged.”

COPSUN Demands Strict Regulation, Control of Private Universities Yinka Kolawole in Osogbo

The Chairman of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria, Mallam Yusuf Alli, canvassed for strict regulation and control, including placing a morato-

rium on establishing private universities. Alli stated this at the end of the sixth biennial conference of COPSUN, held at the Osun State University, Osogbo. Alli, Pro-Chancellor of the university, in a com-

munique, noted the recommendation was based on the proliferation of private universities (99) without corresponding value to the education system. “The proliferation of state universities at the same time that the existing

ones are not adequately funded run against the grain. State government should, therefore, support their institutions to deliver quality education,” stressed the communique. “Adequate funding will facilitate and promote

research development and position the university as the real engine for knowledge generation, innovation, and overall national development.” He observed that “universities should be developed and operated in tandem

with international best practices.” While speaking on the funding of state-owned universities, he lamented severe setbacks experienced in achieving the mission and vision of state universities.

T H I S D AY ˾ WEDNESDAY APRIL 6, 2022

EDUCATION

Envoy Tasks Babcock Lagos Inaugurates Poultry Pens in Management on Peaceful Public Schools Coexistence Funmi Ogundare

Zambia’s High Commissioner to Nigeria, Dr. Solomon Samuel Jere, has urged Babcock University’s management to work with other embassies based in Abuja for peaceful coexistence in Africa. Jere, who made the call at the institution’s 2022 career/ job fair programme for final year students, stated that since the institution has established a model to herald the course for peaceful coexistence in Africa for the United Nations, it should be an example to other countries. “Babcock University is leading in this regard to have come up with a model of the UN. We need countries such as Zambia and other West African countries to come up with such models to brainstorm solutions to the existing practical problems,” said

the envoy. “These problems are not only found in political minds, but also in the academia.” He pledged the commission’s readiness to facilitate such programmes saying that he has started talks with the ambassador to South Africa and the dean of the Southern African Development Community (SADC). The Zambian diplomat advised the students to take advantage of the fair. The university’s ViceChancellor, Prof. Ademola Tayo, noted that the programme was to prepare the students, enhancing their transition to the outside world. He emphasised the importance of giving back to society by supporting and collaborating with the government in achieving its aim of providing quality education in a conducive environment for all children in the state.

The Lagos government has inaugurated poultry pens in five public primary schools under the Lagos State Agriculture Education Programme (LASAEP). The construction of the poultry pens in schools is to introduce youths to farming. The inauguration occurred simultaneously at Obele Primary School, Itire; Community Primary School ii Egan, Alimosho; Roman Catholic Primary School, Ipakodo; and Methodist

Primary School, Gberigbe. LASAEP is a programme approved by the governor to complement the efforts of UBEC in revamping agricultural education. Six schools benefitted from the construction of the pens with the supply of birds as encapsulated under the ‘catch them young’ mantra. While five pens have been completed and being commissioned, the poultry pen at Christ Central Primary School, Mushin LGEA, is still

under construction. Speaking at Obele Primary School, Itire, Surulere, the Executive Chairman LASUBEB, Wahab Alawiye-King explained that the UBEC Agricultural Education Training Programme (AETP) initiative to 51 schools has been vibrant and attractive to learners in 11 Local Government Education Authorities ( LGEA), with different enterprises such as crop farming, fishery, animal husbandry and poultry. He said the involvement

of pupils in farming would not only contribute to economic development but also resuscitate agriculture in the learning environment and promote agric-prenuership in the state. The Poultry Pen Consultant, Mr. Abidemi Iwajomo, stated that the positive interest shown by the pupils has projected a greener pasture in farming and urged the pupils not to rest on their oars in acquiring farming skills.

Unemployment: Osun to Empower Students with Vocational Skills Funmi Ogundare

The Osun government has reiterated its resolve to equip students with vocational skills so as to be self-independent and be employers of labour even after graduating from tertiary institutions. Commissioner for Educa-

tion, Folorunsho Oladoyin, stated this while declaring open a retreat organised by the Governing Council of the Osun State Polytechnic, Iree. The commissioner added that the government would continue to emphasise the production of self-reliant graduates and can be employers of labour through

the application of vocational skills acquired while in school. “It is a clear demonstration of being abreast of the global realities and readiness to align with the vision of the state government as well as the expectations of relevant stakeholders,” he stated. Speaking further, he

added, “It is important to commend your efforts towards the repositioning of the institution with the context of the three major frameworks, which is globalisation, knowledge as a growth driver and ICT, which is shaping the trends in the 21st-century education.”

Students Develop App to Curtail Rail Line Attacks Kasim Sumaina ÓØ ÌßÔË

In a bid to curtail rail line attacks across the country and following recent terrorists attack on the Abuja-Kaduna rail corridor, students of the Noble International Secondary School, Uyo, Akwa Ibom State have developed a technology that when deployed, could alert officials of the Nigerian Railway Corporation (NRC) of any threat to rail tracks in the country The Rail line Threat Detection System (RTDS) developed by Sito Abasi Akpabot and Freda Anoetie Akpaffiong, senior secondary three (SS3) students of the Uyo secondary school, is expected to save the federal government a lot of funds that usually go into rail tracks repairs due to vandalism. In a chat with THISDAY in Abuja, at the end of the Innovation and Technology Expo, organised by the Federal Ministry of Science and Technology, the students said the innovation was born out of their concern about the frequent rate of rail line vandalism in the country. “The technology when in use will keep the rail transportation system on the path of sustainable economic growth.” They noted that the innovation will also increase the confidence of passengers concerning the safety of the moving train. In his remarks, the Coordinator of the Junior Engineers, Technicians and Scientists (JETS), Adegboye Olaoluwa Ayodeji, explained that the Rail line Threat Detector is wired in such

a way that it can help stop the trend of rail tracks vandalism in Nigeria. He said the students used a simple theory in physics which is the theory of voltage divider, “when you have parallel connection of resistors in series with nominal resistors, there is a way voltage is divided across such connection, and that is what has been used in developing this technology.” “The project is very visible, the major component of the technology is the rail line itself, because the rail lines are made of rolling steels, the resistant per kilometers of the rolling steels is about 0.3 ounce, so this rolling steels are what we used in place of the resistors.” Ayodeji further explained that the rolling steels are connected in parallel that any time there is a short circuit or an open circuit, they will be changed in the output of the voltage and connection He added: “The only thing we have to do is lay two wires across the rail tracks all through the country, the two wires will serve as communication wires. Anytime someone tampers with the tracks, the resistance of the rail line will change. “And when the resistance changes, there will be change in output of the voltage on our system, this change in output of the voltage will trigger an alarm which will alert officials that there is a problem somewhere and when they look at the monitor screen, they will see the exact location of the affected rail track,” he stated.

The Chairman of Lagos State Universal Basic Education Board, Wahab Alawiye-King at one of the poultry pens established in ﬁve public primary schools under the Lagos State Agriculture Education Programme

NNPC, APWEN Donate Labs, Borehole to Misau Primary School Segun Awofadeji ÓØ ËßÍÒÓ

The Association of Professional Women Engineers (APWEN), in collaboration with the Nigerian National Petroleum Corporation (NNPC), has constructed and unveiled a multimillion-naira well-equipped science and technology laboratory with a motorised borehole. Speaking at the inauguration ceremony, the GMD/ CEO, NNPC, Mele Kyari, said the programme was targeted at primary school girls aged eight to10 to promote the study of Science,

Technology, Engineering and Mathematics (STEM) as well as girl-child education. Represented by the Chief Innovation Officer, NNPC, Engr Betty Ugona, he added that in living up to its corporate social responsibility, the NNPC responded to the call. He added that the series of events, organised across the country’s six geopolitical zones, led to the establishment of science and laboratory centres in selected schools. Kyari disclosed that the maiden edition of the flagship programme- ‘Invent

It, Build It’, sponsored by NNPC, which has touched the lives of Nigerians in many positive ways, was launched at Sarki Ahmadu Primary School, Misau, Bauchi, on April 21, 2018. He said a foundation was laid for constructing an ultra-modern science and technology laboratory at Sarki Ahmadu Primary School, also sponsored by NNPC. “It is important and heartwarming to remark that the laboratory was named after the illustrious son of Misau, the immediate past Group Managing

Director of NNPC, Dr. Makainti Baru, who was also an alumnus of this school.” “We believe that the utilization of this laboratory will produce tangible outcomes that will shape the career choices and positive impact of our children,” he explained. In her welcome address, the President of APWEN, Dr. Elizabeth Eterigho, said scholarships were awarded to 21 best pupils from 10 primary schools in Misau after conducting hands-on experiments with everyday materials.

T H I S D AY ˾ WEDNESDAY MARCH 30, 2022

CITYSTRINGS

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

Commitment to Technical Education Development Uzoma Mba reports that towards improving technical capacity building and empowering youths in the state, Ikeja Electric recently inaugurated the upgraded electrical workshop of Government Technical College in Ikorodu

ecently, Ikeja Electric (IE) inaugurated the upgraded electrical workshop of Government College in Ikorodu, a move that was lauded by the Lagos State government. Commending IE, a leading Electricity Distribution Company, for its commitment towards improving technical capacity building and empowering youths in the state through the various corporate social responsibility (CSR) programmes, the Lagos State Commissioner for Education, Mrs. Folashade Adefisayo, gave the commendation at a ceremony organised to officially commission the Electrical Workshop at Government Technical College (GTC) in Ikorodu, which was upgraded by the DisCo. Mrs. Adefisayo, who was represented at the event by Dr. Olufunke Oyetola, Director of Policy, Planning, Research and Statistics, Lagos State Education Ministry, expressed gratitude to the Disco for contributing towards improving the facility and adding value to the school while encouraging them to partner more with the state. She commended the exemplary gesture by IE, noting that the impact will definitely be meaningful to the recipients because the quality of learning will improve, thereby enhancing capabilities and potentials of the students for future challenges. The Education Commissioner said: “It’s a good thing that Ikeja Electric deemed it fit to upgrade the electrical workshop for benefit of the students. On behalf of Lagos State Government, I want to say a big thank you to the Management and Staff of Ikeja Electric. We are looking forward for more of such.” Similarly, the Executive Secretary of Lagos State Technical and Vocational Education Board (LASTVEB, Ms. Moronke Azeez thanked the Disco. She said the mission of the board was to provide industry response and gender inclusive technical and vocational education. According to her, the board was not only interested in the training of the students but was also engaging technical partners to help create startups and employment opportunities for them. She said the state currently had about 400 partners involved in the exercise,

L-R: Chief Murisiku Adio Jayesimi, Baale Ori-Okuta, Ikorodu; Dr Olufunke Oyetola, Director of Policy, Planning, Research and Statistic, Lagos State Ministry of Education; Mrs Folake Soetan, Chief Executive Oﬃcer, Ikeja Electric; Ms Moronke Azeez, Executive Secretary, Lagos State Technical and Vocational Education Board (LSTVEB) during the inauguration of the upgraded Electrical Workshop of Government Technical College Ikorodu adding that there was need for more private sector support of technical and vocational education in the state. During the presentation of the upgrade facility, the Chief Executive Officer (CEO), Ikeja Electric, Folake Soetan emphasized that the company remains passionate about giving back to communities where it operates. “We care about our customers and we look for every opportunity to support them, through our Corporate Social Responsibility (CSR) platform, which has touched thousands

of lives positively. ” At IE we give back to the societies where we operate. Therefore, in line with our commitment towards education, we decided to rehabilitate the Electrical Workshop at Government Technical College (GTC), Ikorodu, in order to further enhance technical capacity building and create a conducive learning environment for the students,” she explained. Speaking further, Soetan noted that the philanthropic gesture demonstrated IE’s commitment to the goal of promoting quality education. “There’s no doubt that education is the bedrock of development for any nation. "Clearly, when technical skills are encour-

aged among young people, it helps a nation to develop in terms of technology, economy, manpower, self-sustenance, creation of job and reduction of unemployment.” According to IE Head, Corporate Communications, Felix Ofulue, "Ikeja Electric has been deliberate in its effort to empower youth and develop engineers who are able to compete on global stage. "The DisCo has a Young Engineers’ Programme (YEP), a 12-month comprehensive programme designed to improve the capacity of young, dynamic and self-motivated talents in the electrical engineering field. "The program which has been running for several years have graduated over 100 engineers."

MSME Members Seek Government Support on Infrastructure Precious Ugwuzor

he federal government has been advised to encourage and give more support to micro, small and medium entrepreneurs (MSMEs) by providing enabling infrastructure like roads and electricity in other to diversify and improve on sources of revenue for the country. The charge was given recently by Mr. Chinedu Amadi, the president of Organisation of Youths of International Trade and Commerce during a workshop held at the Technology Incubation Center in Agege. The event was organised to educate entrepreneurs on better ways that will ensure that their products are well packaged and designed to meet international standards, as well as compete in the world market, which would in turn attract foreign exchange to the producer and improve on the economy of the country. Amadi noted that there is need for the government to collaborate with local producers to diversify the economy from the long dependency on crude oil which in no much time may vanish from the global world. He used the COVID-19 era to give an example where everybody was under the lockdown while farmers who entered into production were smiling home with cash

while oil production went down, cutting off all the revenue which the government depended on. " We are talking on how to change our non-oil export to attract foreign earning to Nigeria and better our lives," he said. He explained that a time will come when Nigerians will no longer depend on foreign foods like noodles to feed on, adding that "we need to look inward and improve on our local foods". He further explained that presently, Nigerian food is being appreciated abroad "but all what our local producers need is on how to package them for more attraction". The organiser of the workshop, Mr, Michael Ukeje, in an interview with journalists afterwards said the purpose was to encourage driven export market by " teaching our producers how to package their product to enable them sell in the international market and make hard currencies". According to him, at the end of the workshop, some products that meet the standard will be chosen and the producers will be

given money as a form of empowerment to enable them produce in large quantities and then take them to international market. "This will encourage and sustain the producer the stress. When you have market driving your production, you are good to go". Earlier in his keynote address, Dr Olusola Omowumi, an industrial and project consultant and Director Federal Institute For Research Organisation (FIRO), Oshodi, said despite the fact that oil has contributed to boost the revenue of Nigeria, the effects have not assisted to alleviate poverty and unemployment currently plaguing the nation. This, he explained, remains a very strong reason to diversify and look beyond oil for the future well being of the country. According to him "If Nigeria aims to be real "giant of Africa" as claimed, efforts must be made by the government to diversify non oil sector, otherwise, it is yet to come." He further noted that the non oil sector has the capacity to provide food for human population, and act as source of raw materials for industries and thus promote economic growth and poverty reduction. "In the year between 2008 and 2014 non- oil revenue marginally increased from 45.09 per cent to 48.02 per cent based

on (National Bureau of Statistics 2014)." This he claimed means that it was the period government devoted much effort to revenue generation from non oil sector. In his conclusion, he noted that there is a lot of revenue to be generated in Nigeria if government will focus on non-oil products to shove up non-oil export. "We must shift from the exportation of raw material to semi finished goods with higher value, create good bilateral relationships that encourage trade, not just import as enabling environment for business growth and institute policy that favour growth in critical sector," he added. Dr. Julie Momah, the Zonal Director, Technology Incubation Center Lagos, said the purpose of the programme is as an off taker platform where the products made in Nigeria can be exported. According to her, "most of our products are awaiting to go to export market for the best standard because they have been certified by NAFDAC and they are ready to be imported to markets outside the country. " Our national board for technology exhibition is agent of Federal Science of Technology. The purpose of the organisation is to nurture small and medium entrepreneurs in area of value addition, in area of business and development level of commercialising them to the market."

T H I S D AY ˾ WEDNESDAY MARCH 30, 2022

CRIME&SECURITY

Tackling Insecurity through Youth Empowerment Chiemelie Ezeobi reports that for Chairman House Committee on Defence, Mr Babajimi Benson, his recent move to empower 135 youths of his constituency at the Nigerian Armed Forces Resettlement Centre was targeted at reducing the insecurity index in the country

Chairman House Committee on Defence, Mr. Babajimi Benson with NAFRC Deputy Commandant, Major General Sunday Igbinomwanhia

o reduce the insecurity index bedeviling the country, the Chairman House Committee on Defence, Mr. Babajimi Benson has towed the path of empowering youths with the prerequisite skills for self sustenance in future. Through his iCare Foundation, he sponsored the third batch of 135 beneficiaries on Skill Acquisition Training at the Nigerian Armed Forces Resettlement Centre (NAFRC). The iCare Foundation initiative was founded by Benson in 2019 for the purpose of empowering youths with skills in order to tackle the increasing rate of unemployment in the country. In this batch, the 135 youths benefitted from skills such as photography, cosmetics and soap making, baking and confectionary, paint production, car spraying and agriculture. The chairman, who was also the guest of honour, said the programme lasted for two weeks and was totally free, adding that "today, you have achieved an important breakthrough in your quest to be fruitful and productive in support of national development. "Today’s graduation ceremony is important to me as it marks the third graduation ceremony on skill acquisition powered by the NAFRC in conjunction with the iCare Foundation.

"The tight schedule of your training is aimed at making you gain considerably within the short period earmarked for your training". In his charge, he said the participants should think of new ways to tackle the problem of unemployment and lack of jobs caused by the devastating effect of the COVID-19 Pandemic. "The Skill Acquisition Training is to position you to remain relevant and stand competitive in the open market. Therefore, you must all keep in mind the aim of the training you have acquired and continue to develop your entrepreneurial skills to fully optimise the knowledge gained," he said. The chairman further adviced the graduands to be mindful of criminal elements in the society who were only interested in milking their limited resources. "I, therefore, urge you all to be bold, courageous, focus, financially disciplined and above all, beware of these criminals in all your business

Hon. Benson with some of the beneﬁciaries and the products they made from scratch engagements. It is our expectation that you will continue to bring positive feedback as you exploit the numerous entrepreneurial space for the future of our dear nation. "In fact, it is our hope that the gap between skills requirements and the labour market needs will no longer be an issue in our dear country," he said. Stressing that he was pleased that NAFRC has continued to deliver on its mandate of providing skill acquisition training to discharging personnel of the Nigerian Armed Forces and the civil populace, he said arrangements should also be made whereby civil servants leaving office too can be trained in skills for self sustenance in future. "Today’s graduation ceremony offers an opportunity for me to publicly thank NAFRC Commandant, AVM Idi Lubo of this noble centre for empowering those placed under his charge. "Indeed, there is no better way of discharging the centre’s Cooperate Social Responsibility (CSR) than engaging our youths on skill acquisition training in order to make them live a fulfilling life. "I sincerely urge the commandant to continue these laudable initiatives in partnership with

ICARE Foundation to reduce the alarming number of unskilled persons in the nation," Benson said. Also speaking, Lubo who was represented by the centre's Deputy Commandant, Major General Sunday Igbinomwanhia, attributed the successes of the centre to the laudable visions and dedication of past commandants. The AVM also said the support of President Muhammadu Buhari enabled the centre to be able to offer such trainings to retired armed forces personnel and the civil society. He said: "NAFRC will continue to exploit ways to enhance the process of teaching and learning at the centre to produce better citizens for the development of a greater nation. "To optimise this objective, we have focused on enhancing the extant processes at improving the centres physical and social infrastructural systems. "I congratulate the graduating participants and advice them to remain good ambassadors of the centre to their communities". The highlight of the event was the award of Overall Best Participant to Ms Kofoworola Anifowoshe and Mr. Mohammed Ogunbiyi, who was awarded the Commandant's Award while the Best Female Participant went to Mrs. Afusat Omotosho.

Strengthening Nigeria’s Counter-nuclear Smuggling Capacity

The ﬁve new mobile radiation detection systems donated by the US Government to the EOD Chiemelie Ezeobi

o strengthen Nigeria’s Counter-nuclear Smuggling Capacity, the United States Government recently donated over 2 million dollars equipment to the Explosive Ordinance Disposal and Chemical, Biological, Radiological and Nuclear (EOD-CBRN) Command of the Nigerian Police. It is noteworthy that the U.S. government works closely with Nigeria’s security services to provide technical assistance, equipment, professional exchange and training opportunities that support efforts to create a more peaceful, prosperous nation. So, on a recent Friday, the U.S. Department of Energy/National Nuclear Security Administration, through its Office of Nuclear Smuggling Detection and Deterrence (NSDD), transferred five new mobile radiation detection systems valued at over $2 million to the Nigeria Police Force. Commissioner of Police in charge of Explosive Ordinance Disposal and Chemical, Biological, Radiological and Nuclear (EOD-CBRN) Command,

Commissioner of Police in charge of Explosive Ordinance Disposal and Chemical, Biological, Radiological and Nuclear (EOD-CBRN) Command, CP Zannah Shettima, with Lagos, U.S. Consulate Assistant Regional Security Oﬃcer Jon Dvorak inaugurating the donated vehicles and equipment

CP Zannah Shettima, received the donation on behalf of the Nigeria Police Force. Complementing the donation, 30 police officers participated in a two-week training on the operation of the detection equipment, ensuring the police have the skills to combat the smuggling of nuclear and radioactive material. An additional 10 officers were trained on the maintenance of the donated equipment. Delivering remarks during an outdoor handover ceremony in Lagos, U.S. Consulate Assistant Regional Security Officer Jon Dvorak described the equipment donation as an important step in advancing the robust U.S.-Nigeria security cooperation. Dvorak noted that the equipment transfer and associated trainings will enhance the police’s ability to interdict the smuggling of nuclear and radioactive material into and within Nigeria. “Nigeria remains one of the United States’ key partners in combating the smuggling of illicit nuclear and radioactive material,”

Dvorak said. “Nigeria stands tall not only in Africa, but globally, in its commitment to prevent the trafficking and use of materials that pose a threat to health and safety.” He expressed the commitment of the U.S. government to expand partnership with other Nigerian security services to directly support counter-nuclear smuggling operations and modernised training capabilities. The mission of U.S. Department of Energy’s Office of Nuclear Smuggling Detection and Deterrence is to build global capability to detect, disrupt, and investigate the smuggling of nuclear and radioactive material before it can be used in an act of terrorism. The office partners over 100 agencies in more than 70 countries around the world. The equipment donation is part of a close and continuous bilateral partnership between the United States and Nigeria that has existed for decades to strengthen security ties and promote regional security. U.S. law enforcement programming focuses on building partner capacity, strengthening

strategic relationships, and bolstering Nigeria’s security capabilities. In his reaction, CP Zannah said the training of the 30 policemen on operators training and additional 10 on maintainance of the the mobile detection devices was impactful, adding that the essence of these trainings for operators and the maintenance of mobile detection systems is "part of our initiatives at ensuring that our officers and men are fully abreast with the current technological innovations in the detection of Radioactive and Nuclear materials. "This would further boost and develope our capacity in combating terrorism through the operations of mobile detection systems as well as being able to basically maintain the equipment for effective service delivery to detect illicit trafficked materials and respond to Nuclear or Radiological emergencies. "The US government has been of great assistance to security agencies, especially the Nigeria police. Two years ago,US donated some equipment including vehicles to the Anti Bomb section of the police".

T H I S D AY ˾ ˜ APRIL 6, 2022

BUSINESS/MONEYGUIDE

Mastercard Foundation, Nourishing Africa Partners to Empower 1000 Young Nigerian Agri-food Entrepreneurs Gilbert Ekugbe Mastercard Foundation and the Nourishing Africa, Entrepreneur Support Programme (ESP) have partnered to train over 1,000 young Nigerian agri-food entrepreneurs to improve their business operations in the country, noting that the move is to make them become resilient and adaptive agribusinesses. In a statement, both parties said the partnership is focused on small-scale enterprises, as it is

currently wrapping up activities for the initiative. The statement added that the training was critical to increasing the resilience, growth, profitability, and sustainability of the Nigerian agri-food businesses, pointing out that the programme has fulfilled these critical aspects of the initial programme design and achieved impact through these multi-pronged interventions. Nourishing Africa remains committed to providing ongoing support to these agri-food

entrepreneurs and others across the country and continent to maintain existing growth paths, strengthen their capacities, and accelerate their business growth. This support would be channeled through the Nourishing Africa online resource and data Hub –the Membership Community and vibrant network. The team would continue to facilitate strategic convening and workshops to transfer knowledge and create resilient agribusinesses.

LCFE Inducts 102 Commodities Brokers As part of the preparation for commencement of its full-blown trading, Lagos Commodities and Futures Exchange (LCFE) has inducted 102 Commodities brokers. The Exchange had inducted 50 senior senior Commodities Brokers earlier in March and concluded the induction with other 52 Thursday. The induction’s co-ordinator and past President of Charter Institute of Stockbrokers (CIS), Mr Mike Itegboje explained that commodities had become major sources of foreign exchange globally and the inductees should take advantage of the emerging opportunities to support the

government in its efforts to bridge the gap in forex scarcity. The Director General, Securities and Exchange Commission (SEC), Mr Lamido Yuguda, who was represented by the Commission’s Head of Operation, Lagos Zonal Office, Mr John Achile stated that all initiatives that lead to economic transformation through the commodities ecosystem had always been supported by SEC. In his welcome address, the Chairman, LCFE, Chief Onyewenchukwu Ezeagu who congratulated the the inductees said the Trading Rules of the Exchange which cut across Agriculture, Oil and Gas, Solid Minerals and Currency were

approved by SEC. The Chairman, Association of Securities Dealing Member Houses of Nigeria (ASHON), Mr Sam Onukwue said commodities trading had presented a new frontier that would challenge professionals to unleash their creative potentials to grow the market and create value for its stakeholders. The Managing Director, LCFE, Mr Akin Akeredolu-Ale, who was represented by the Group Managing Director, GTI Group, Abubakar Lawal , urged the inductees to comply with the Exchange’s ruler and regulations to build an efficient commodities market.

Chivita Drives Competitive Edge in New Campaign Leading Juice brand, Chivita, consistently prides itself on innovation, prioritizing consumers’ expectations as well as their need for health, nutrition and refreshment with the best quality juices. In essence, whether the occasion calls for indulgent taste, distinctive refreshment, rejuvenation, enablement for active health or preference for fruit juice made from natural ingredients with no artificial colour, preservatives & flavours, there is a Chivita to guarantee satisfaction. Chivita comes in exciting variants and varying pack sizes such as 1 litre, 500ml, 315ml, 125ml,

90ml and the cool 330ml cans that are stylish, convenient, affordable and accessible to every category of consumers. Chivita can be enjoyed at home, on-the-go, at work, in school, on the playground and during moments of leisure and relaxation. To raise consumer consciousness to the various offerings by Chivita, a brand-new campaign tagged “Everyone has a Chivita” will be launched across multiple platforms such as TV, Radio, out of home sites, digital and print, from the 8th of March, to reinforce category leadership of Chivita in Juices, Nectar and Still Drinks category.

Known for its high quality, health and nutrition, Chivita includes Chivita 100%, Chivita Active, Chi Exotic Nectar, Happy Hour by Chivita, Chivita Ice Tea and very recently, Chivita Smart Malt Drink - which is uniquely positioned to give children all the energy they require to learn and play. CHI Limited Marketing Director, Mrs Toyin Nnodi, stated that the objective of the “Everyone has a Chivita” campaign is to remind consumers of the high quality, nourishing and fruity goodness that the innovative Chivita brand provides to meet their varying needs.

Standard Chartered Hosts Virtual Conference to Introduce E-evaluator, E-invoicing Standard Chartered Bank Nigeria Limited (SCB) with representation from the Central Bank of Nigeria (CBN) and industry experts, hosted a virtual conference for clients and stakeholders to discuss and analyse the recent CBN circular on Introduction of E-evaluator and E-invoicing for import, export and its implications for Nigerian businesses. E-evaluator and E-invoicing is an initiative of the CBN aimed at ensuring that accurate and fair value is assigned to goods imported and exported to and from the country. This initiative is expected to curb over and underinvoicing as well as manage price variations, thus aiding the CBN in reducing capital flight, managing foreign exchange allocation and enhancing efficiency in supply chain flows. The virtual conference, which attracted over 240 attendees across the various sectors of the economy reinforced the Banks commitment to driving cross-border trade, commerce and prosperity in markets where it operates. It reiterates the bank’s

passion for promoting thought leadership and market advocacy on topical issues affecting trade by bringing together seasoned experts from both public and private sectors who expressed their thoughts on the Central Bank’s initiative. The conference provided a platform for major Multinationals, International & Local Corporates, Industry Experts, Policy Makers, Regulators and other stakeholders in Nigeria to get a clear understanding of the E-evaluator and E-invoicing policy and better appreciate the benefits it will deliver to the Nigerian business community and the nation at large. It also allowed stakeholders to provide feedback to the regulators’ areas of concern for re-consideration before the initiative is eventually launched. Speaking, CEO, Standard Chartered Bank Nigeria Limited, Lamin Manjang, stated during the session that “The Central Bank of Nigeria is keen to ensure that the reserves are at a healthy level and foreign

exchange is being managed prudently. The introduction of E-evaluator and E-invoicing is part of the initiatives designed to help the CBN achieve its objective of managing the foreign reserves of the nation.” On his part, Head, Transaction Banking, Standard Chartered Bank Nigeria Limited, Ibiyemi Okuneye also reiterated that “The wave of new technologies is driving the way trade business is done globally and helping to promote transparency, traceability and accuracy of the value of goods and service in cross-border import and export trade whilst minimising the risk and vulnerabilities of manipulations arising from over and under-invoicing. In response to the evolving landscape, the CBN is introducing the e-evaluator and e-invoicing which is a critical enabler for ensuring the accuracy of the value of items of import and export. This initiative has the potential to transform the trade landscape and open up opportunities for further innovation and digitization of the trade process in Nigeria.”

L-R: Past President, Chartered Institute of Stockbrokers (CIS), Deacon Henry Olayemi, Chairman, Lagos Commodities and Futures Exchange ( LCFE), Chief Onyewenchukwu Ezeagu, Director, LCFE, Alhaji Rasheed Yussuﬀ , Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue, Past President, CIS, Mike Itegboje and Group Managing Director, GTI Group, Alhaji Abubakar Lawal during Induction of Commodities Brokers yesterday at LCFE, Trading Floor, Lagos

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

T H I S D AY ˾ ˜ ʹ˜ ͰͮͰͰ

Presco Issues N34.5 billion Series 1 Bond Kayode Tokede Market leader in the supply of specialty fat and oils, Presco Plc has announced successful issuance of N34.5billion Series 1 seven-year Fixed Rate Bonds under its N50 billion Bond Issuance Programme. Speaking on Tuesday at the signing ceremony held

at the Company’s Obaretin Estate, Benin, Edo State, Managing Director of Presco Plc, Mr Felix Nwabuko commended institutional investor community for supporting the transaction. According to the company, the Bond Issue was 247% subscribed and priced at a coupon rate of 12.85%. This is

P R I C E S MAIN BOARD

F O R DEALS

Presco’s debut bond issuance in the Nigerian debt capital markets and the Bond Issue attracted participation from a wide range of investors including pension funds, asset managers, insurance companies, banks and high net worth individuals. Presco sought out to raise N30billion but the order book

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

QUANTITY TRADED

closed at N74billion, so the Company elected to issue an additional 15% to investors thus raising a total of N34.5 billion. Stanbic IBTC Capital Limited acted as Lead Issuing House to the Bond Issue, while CardinalStone Partners Limited and Quantum Zenith Capital and Investments

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

Limited acted as Joint Issuing Houses to the Bond Issue. Also speaking, Funso Akere, Chief Executive of Stanbic IBTC Capital, said: “Stanbic IBTC Capital, CardinalStone Partners and Quantum Zenith Capital are delighted to have advised Presco on its debut issuance in the Nigerian debt capital markets.

O F

0 5

“We thank the institutional investor community for supporting the Issue, as its success should encourage other similar companies to access the domestic debt capital markets for their strategic funding needs. “We also thank the Board and management of Presco for giving the Issuing Houses a free hand to guide the process.”

/ 0 4 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ;˜ ͺ͸ͺͺ ˾ T H I S D AY

Wednesday, April 6, 2022

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THISDAY AFRINVEST 40 INDEX

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;нϮ͘ϱйͿ͕ E/d, ;нϯ͘ϰйͿ͕ ĂŶĚ h ;нϭ͘ϯйͿ͘ ƵͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

ŵƵůĂƟǀĞůǇ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϭϮ͘ϲй ŽĨ ƚŚĞ

Current Price

Ticker

ŝŶĚĞǆ͘

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

THISDAY AFRINVEST 40

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ϰϲ͕ϳϳϳ͘ϯϳ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ E/d, ^ŚĂƌĞ

ŝŶĚĞǆ

ƌŽƐĞ

ďǇ

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;ƉƌĞǀŝŽƵƐůǇ ϵ͘ϯйͿ͘ DĂƌŬĞƚ ĂĐƟǀŝƚǇ ŝŵƉƌŽǀĞĚ ĂƐ

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

E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

ǁĂƐ ŵŝǆĞĚ ĂƐ ϯ ŝŶĚŝĐĞƐ ůŽƐƚ͕ Ϯ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

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0.0%

8.5%

7.6%

134.7%

14.1%

14.4x

22.3x

6.2%

0.0%

7.0%

5.5%

19.1%

11.2%

34.0x

6.4x

3.9%

2.9%

22.35

2.5%

5.4%

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20.7%

3.3%

3.6x

0.8x

13.4%

27.6% 34.2%

5.2%

-9.5%

20.4%

2.7%

2.9x

0.6x

13.6%

4.5%

6.4%

39.2%

16.3%

12.9x

4.8x

7.3%

7.8%

1,395.00

0.0%

3.1%

-10.4%

106.8%

15.6%

27.1x

31.8x

3.6%

3.7%

11.80

0.0%

3.4%

3.5%

8.4%

0.8%

7.0x

0.6x

3.9%

14.4%

21.80

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2.9%

-9.0%

11.6%

8.4%

8.2x

0.9x

9.2%

12.3%

2.8%

7.0%

17.9%

1.6%

2.2x

0.3x

8.5%

46.0%

1.3%

2.0%

-5.6%

15.8%

1.4%

2.2x

0.3x

13.2%

44.6% 13.0%

34.15

0.0%

1.5%

-5.1%

15.1%

2.1%

7.7x

1.2x

4.1%

40.45

0.0%

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-19.1%

7.6%

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25.4x

1.9x

4.1%

3.9%

950.00

2.2%

46.2%

8.7%

4.1%

8.7x

0.8x

4.3%

11.6%

2.7x

0.4x

5.5%

12.00

0.0%

1.8%

37.9%

16.9%

1.0%

4.90

0.0%

1.1%

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-10.3%

-3.9%

0.9x

142.00

0.0%

1.1%

0.0%

36.5%

23.3%

9.6x

3.2x

5.6%

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30.55

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4.7x

0.7x

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21.4%

3.43

0.0%

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34.5%

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2.6x

0.3x

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2.45

0.0%

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7.5x

0.7x

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8.7x

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2.4x

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15.80

0.0%

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17.4%

6.9%

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7.0%

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25.8%

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13.3%

6.0%

14.4x

1.8x

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6.9%

1.00

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4.2%

11.1%

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5.3x

0.6x

2.0%

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26 Presco PLC 27 NASCON Allied Industries PLC

133.00

0.0%

0.4%

51.5%

2.8x

0.8%

12.20

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0.3%

-7.6%

21.3%

6.9%

11.5x

2.3x

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28 AIICO Insurance PLC 29 TotalEnergies Marketing Nigeri

0.65

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22.0x

0.6x

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4.5%

238.50

0.0%

0.3%

7.5%

48.0%

9.5%

4.8x

2.0x

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6.55

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19.5%

5.5%

3.9x

0.7x

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26.0%

0.0%

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38.7%

16.0%

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2.0x

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13.30

0.0%

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29.5x

1.2x

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26.00

0.0%

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0.8x

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6.10

0.0%

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7.1%

0.8%

6.9x

0.7x

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2.1x

0.3x

2.90

0.0%

302.8%

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12.6x

1.7x

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7.9%

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0.0%

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21.2%

12.9%

4.6x

0.9x

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2.0x

0.3x

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1.50

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9.4%

0.9%

62.50

0.0%

0.1%

0.0%

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-6.1%

5.31

0.0%

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2.4x 0.9x

1.4%

T ic k er

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P ric e C hg %

R ED ST A R EX

2.97

10.0%

T R A N SC OR P

28.9

3.1%

NA HCO

4.71

9.8%

F ID ELIT YB K

23.5

0.0%

M EYER

0.79

9.7%

UB A

15.1

-2.6%

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VER IT A SKA P

0.23

9.5%

Z EN IT H B A N K

12.6

-1.8%

UP D C

0.83

9.2%

A C C ESSC OR P

12.0

-1.0%

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UN IT YB N K

0.48

9.1%

N GXGR OUP

10.5

-0.8%

IN T B R EW

4.90

7.7%

GT C O

9.7

1.4%

WEM A B A N K

2.90

7.4%

R EGA LIN S

9.5

-9.7%

ďƌĞĂĚƚŚ͕ ǁĞĂŬĞŶĞĚ ƚŽ ͲϬ͘Ϭϯǆ ĨƌŽŵ Ϭ͘Ϭϰǆ ŝŶ ƚŚĞ

ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϭϴ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϮϬ ĚĞĐůŝŶĞĚ

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

C A VER T ON

1.26

5.0%

ST ER LN B A N K

8.8

-1.3%

CHA M S

0.22

4.8%

SOVR EN IN S

8.5

0.0%

ǁŚŝůĞ ϲϭ ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ďĂƌŐĂŝŶ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ďƵǇŝŶŐ ƚŽ ƐƵƉƉŽƌƚ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ͘ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

R EGA LIN S

P ric e 0.28

T ic k er

Value

-9.7%

Z EN IT H B A N K

278.4

-1.8%

264.1

-0.9%

250.4

-0.8%

P ric e C hg %

J A P A ULGOLD

0.31

-8.8%

M TNN

WA P IC

0.41

-6.8%

N GXGR OUP

-6.0%

GT C O

211.4

1.4%

116.2

-1.0% -2.6%

LIN KA SSUR E

0.47

J A IZ B A N K

0.66

-5.7%

A C C ESSC OR P

10.00

-5.2%

UB A

113.7

-4.5%

F ID ELIT YB K

80.0

0.0%

70.8

-2.0%

C OR N ER ST

0.63

FCM B

3.17

-3.9%

GUIN N ESS

FB NH

11.80

-3.3%

FB NH

53.1

-3.3%

-2.8%

WA P C O

37.5

-2.7%

R OYA LEX

Afrinvest West Africa Limited

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

T o p 10 L o s e r s T ic k er

1.06

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundipe@afrinvest.com

51.0% -13.8%

P ric e C hg %

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

14.5% 47.9%

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

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

8.7%

22.30

P ric e

36.8% -11.6%

75.6%

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

6.9%

0.5%

ŝŶĚŝĐĞƐ ĨĞůů Ϭ͘ϵй ĂŶĚ Ϭ͘ϯй ĂĐĐŽƌĚŝŶŐůǇ ŽŶ ƚŚĞ

ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ůŽǁĞƌ ďǇ ϱďƉƐ͘

17.4%

1.5%

0.6%

37 NEM Insurance PLC 38 Sterling Bank PLC

Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ^ŝŵŝůĂƌůǇ͕ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ t W K ;ͲϬ͘ϵйͿ ĚƌĂŐŐĞĚ

6.2%

0.0%

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ

0.8x

-1.5%

35 Oando PLC 36 Wema Bank PLC

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

5.2x

68.50

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ;нϭ͘ϯйͿ͕ ^ W> d ;нϮ͘ϮйͿ ĂŶĚ K E K ;нϭ͘ϯйͿ͘ ;Ͳϲ͘ϰйͿ͕

3.5%

12.45

33 Julius Berger Nigeria PLC 34 Union Bank of Nigeria PLC

>/E< ^^hZ

15.0%

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

Ğƌ ƉƌŝĐĞ 'ŽŽĚƐ ĂƉƉƌĞĐŝĂƟŽŶ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶ ŝŶĚŝĐĞƐ͕ ϰ͘ϲй h ĂŶĚ ƚŽ E/d, ĚŽǁŶ ;нϯ͘ϰйͿ͕ ;Ͳϯ͘ϱйͿ͕

32.0%

3.4%

22 FCMB Group Plc 23 United Capital PLC

30 Custodian and Allied Insurance 31 Vitafoam Nigeria PLC 32 Unilever Nigeria PLC

hE/> s Z

97.5%

32.0%

0.0%

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

6.5%

Dividend Earnings Yield Yield

P/BV

70.75

9.95

Ϯϭ͘ϯй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ Ϯϱϳ͘ϰŵ ƵŶŝƚƐ ĂŶĚ ʬϮ͘ϯďŶ͘ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

39.1%

P/E

212.00

7.60

18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ

0.0%

ROA

22.75

11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

0.38%

ROE

273.50

8 FBN Holdings Plc 9 Lafarge Africa PLC 10 Access Bank PLC

ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ďǇ ϭϳ͘ϯй ĂŶĚ

DŝǆĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

1,260.40

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

15 Ecobank Transnational Inc 16 International Brew eries PLC 17 Okomu Oil Palm PLC

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

ϵ͘ϭйͿ͕

1974.54

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

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

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

WEDNESDAY, APRIL 6, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 04Apr-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.86% AIICO Balanced Fund 3.44 3.49 -2.98% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 4.51% Anchoria Equity Fund 137.02 138.61 -1.01% Anchoria Fixed Income Fund 1.21 1.21 5.48% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.70 21.33 2.07% ARM Discovery Balanced Fund 475.42 489.75 5.38% ARM Ethical Fund 39.69 40.89 1.88% ARM Eurobond Fund ($) 1.06 1.06 -2.15% ARM Fixed Income Fund 1.03 1.04 1.78% ARM Money Market Fund 1.00 1.00 6.37% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 109.24 109.24 7.40% AVA GAM Fixed Income Dollar Naira 1,092.43 1,092.43 9.24% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 141.56 142.56 6.38% AXA Mansard Money Market Fund 1.00 1.00 6.69% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.11 2.11 11.01% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.24 2.29 5.82% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 2.24% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.29% Paramount Equity Fund 17.73 18.07 5.42% Women's Investment Fund 141.70 143.37 1.92% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.57% Cordros Milestone Fund 138.59 139.48 4.83% Cordros Dollar Fund ($) 111.84 111.84 4.87% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.09% Emerging Africa Bond Fund 1.03 1.03 6.25% Emerging Africa Balanced Diversity Fund 1.02 1.02 11.82% Emerging Africa Eurobond Fund 101.81 101.81 3.75% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,433.83 1,433.83 9.95% FBN Balanced Fund 185.02 186.42 5.57% FBN Halal Fund 118.17 118.17 8.98% FBN Money Market Fund 100.00 100.00 7.45% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

123.24 155.27

123.24 4.12% 157.34 3.01% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.99 1.75 1.22

Offer Price Yield / T-Rtn 1.00 6.28% 3.99 -0.34% 1.79 0.90% 1.22 1.12% coralfunds@fsdhgroup.com

Bid Price 3,973.15 3,523.16 100.00

Offer Price 4,035.44 3,523.16 100.00

Yield / T-Rtn 2.10% 1.58% 6.13%

1.09

0.89%

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.50 1.53 4.28% Lotus Halal Fixed Income Fund 1,166.21 1,166.21 2.56% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.10 12.21 2.72% Meristem Money Market Fund 10.00 10.00 8.36% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.54 1.57 -3.93% PACAM Fixed Income Fund 11.67 11.67 4.29% PACAM Money Market Fund 10.00 10.00 6.57% PACAM Equity Fund 1.38 1.40 -4.13% PACAM EuroBond Fund 115.57 118.20 0.37% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.35 129.58 7.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.25% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,505.64 3,544.47 1.82% Stanbic IBTC Bond Fund 237.62 237.62 0.80% Stanbic IBTC Ethical Fund 1.35 1.37 4.62% Stanbic IBTC Guaranteed Investment Fund 317.81 317.81 1.43% Stanbic IBTC Iman Fund 250.56 254.39 3.52% Stanbic IBTC Money Market Fund 100.00 100.00 4.75% Stanbic IBTC Nigerian Equity Fund 11,350.95 11,510.52 2.18% Stanbic IBTC Dollar Fund (USD) 1.31 1.31 1.18% Stanbic IBTC Shariah Fixed Income Fund 117.94 117.94 0.83% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 108.47 108.47 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.96 0.98 2.98% United Capital Balanced Fund 1.40 1.43 3.17% United Capital Wealth for Women Fund 1.14 1.15 4.50% United Capital Sukuk Fund 1.09 1.09 1.94% United Capital Fixed Income Fund 1.99 1.99 1.86% United Capital Eurobond Fund 124.02 124.02 1.37% United Capital Money Market Fund 1.00 1.00 5.27% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.39 13.52 1.56% Zenith ESG Impact Fund 15.45 15.61 5.71% Zenith Income Fund 22.41 22.41 1.84% Zenith Money Market Fund 1.00 1.00 5.64%

REITS NAV Per Share

Yield / T-Rtn

122.16 53.16

1.62% 0.82%

Bid Price

Offer Price

Yield / T-Rtn

14.23 132.66 105.89 19.97 21.25

14.33 135.92 108.18 20.07 21.35

1.89% 0.77% 2.17% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.00 5.50 17.82 1.00 20.96 167.91

4.10 5.60 18.02 1.00 21.16 169.91

-0.18% -5.78% 0.76% N/A 4.86% 6.39%

INFRASTRUCTURE FUND

Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.28 10.80% 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.

FSDH Dollar Fund

WEDNESDAY, APRIL 6, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

R us s ia’s Inva s i o n of U krai ne Worsens Africa’s Food Shortages legality of Prime Minister Imran Khan’s blocking of an opposition bid to oust him, a dispute that has led to political turmoil in the nuclear-armed country. Former cricket star Khan lost his parliamentary majority last week and had been facing a no-confidence vote tabled by a united opposition that he was expected to lose on Sunday. But the deputy speaker of parliament, a member of Khan’s party, threw out the motion, ruling it was part of a foreign conspiracy and unconstitutional. Khan then dissolved parliament. The stand-off has thrown the country of 220 million people, ruled by the military for extended periods since independence in 1947, into a full-blown constitutional crisis.

US government officials warn that many African countries will continue to face shortages and high food prices as long as Russia continues to wage war against Ukraine, from which Africa gets much of its wheat and cooking oil. Speaking to journalists online Tuesday, the US representative to UN agencies in Rome, Cindy McCain, said Ukraine is the world’s breadbasket, and the attack on its land and people is raising hunger around the globe. “The Food and Agricultural Organization estimates that as many as 13 million more people worldwide will be pushed into food insecurity as a result of Russia’s invasion of Ukraine. The truth of the matter is Putin’s war forces us to take from the hungry to feed the starving. As long as Russia continues its brutal campaign, innocent people are going to pay the price,” she said. Peru Imposes Curfew after Violent Protests over Inﬂation President Pedro Castillo of Peru has imposed a curfew in Lima to quell the growing wave of violent protests over soaring fuel prices. President Castillo announced the curfew in a nationally televised speech Monday just before midnight local time, saying it would take effect beginning at 2:00 a.m. and would last until 11:59 p.m. Tuesday. The curfew was announced just hours after officials in Lima ordered schools to shut down for a second consecutive day due to mass protests by transport workers. Authorities said workers blocked several major highways on Monday in 12 regions, including areas of the capital, keeping thousands of Peruvians from getting to their jobs. The protests in other areas of the Andes over the past week have provoked other clashes with the police that have left four dead, including a child. The cost of fuel in Peru has soared between 28 and 30 per cent due to rising international prices. Spain to Expel 25 Russian Diplomats Spain will expel some 25 Russian diplomats and embassy staff from Madrid, Spanish Foreign Minister Jose Manuel Albares said on Tuesday, joining other European Union countries in its response to alleged war crimes by Russian troops in Ukraine. “We have decided to expel Russian diplomats and staff from the Russian embassy in Spain who represent a threat to the interests and security of our country,” he said after the weekly cabinet meeting, without ruling out further measures. The minister added that the expulsions were also a response to “the terrible actions carried out in the past days in Ukraine, especially in Bucha and the ones reported today from Mariupol.” referring to the discovery of mass graves and civilian killings in the Ukrainian city of Bucha. “The crimes cannot remain unpunished,” he said. Russia has denied killing civilians in Bucha. Italy, Sweden and Denmark had already announced similar expulsions early on Tuesday. Albares said his government expected Russia to expel a similar number of Spanish diplomats in response. However, he said Spain would not expel the Russian ambassador as Madrid wants to keep its own ambassador in Moscow and leave diplomatic channels open for talks with Russia to end the war. UN Gathering Evidence of War Crimes against Russia in Bucha The Office of the UN High Commissioner for Human Rights says it is gathering evidence of possible war crimes committed by Russian forces in the Ukrainian town of Bucha. UN rights chief Michelle Bachelet has expressed horror at the images of civilians

lying dead on the streets of Bucha, a town on the outskirts of the capital, Kyiv. Her spokeswoman, Liz Throssell, says photos of bodies that have been desecrated are extremely disturbing. Throssell notes that pictures of people with their hands bound, partially naked women, and bodies being burned strongly suggest they have been directly targeted. Under international humanitarian law, she says, the deliberate killing of civilians is a war crime. “We are not saying that this specific incidence is a war crime. We cannot establish that yet. That is why there needs to be detailed forensic examinations, for example. That is why there needs to be detailed monitoring and information gathering of what happened to whom, by whom, and on what particular date. Now we are working to do that kind of work, as are other bodies.” Hague Court Opens First Darfur War Crimes Trial An alleged former militia leader in Sudan’s Darfur region has pleaded not guilty to 31 charges of war crimes and crimes against humanity. The trial of the militia leader known as Ali Kushayb is the first at the International Criminal Court to deal with the Darfur conflict. Wearing a blue suit, Ali Muhammad Ali Abd-Al-Rahman sat with folded arms as he listened to a long list of atrocities he allegedly participated in nearly two decades ago. Speaking here through a translator, he denied the charges against him. “I reject all these charges. I am innocent of all these charges. I am not accused of any of these charges.” International Criminal Court prosecutor Karim Khan offered a very different take. He outlined brutalities supposedly committed by Abd-Al-Rahman, and other alleged members of Sudan’s feared Janjaweed militia in 2003 and 2004. Kuwait Government Resigns Three Months after Swearing-in Kuwait’s government resigned on Tuesday, three months after it was sworn in, state media reported, amid escalating disputes with parliament. The official KUNA news agency said the Gulf emirate’s prime minister, Sabah Khaled Al-Sabah, submitted the cabinet’s resignation to Crown Prince Sheikh Meshal al-Ahmad al-Jaber Al-Sabah. The move comes a day ahead of a parliamentary vote on a letter of noncooperation, which 10 lawmakers submitted against the premier after he had been accused of committing “unconstitutional” practices, including corruption.

Oil-rich Kuwait has been shaken by disputes between lawmakers and successive governments dominated by the ruling Al-Sabah family for more than a decade, with parliaments and cabinets dissolved several times. Kuwait is the only Gulf Arab state with a fully elected parliament, which enjoys wide legislative powers and can vote ministers out of office. In February, the country’s interior and defence ministers resigned in protest over the manner of parliamentary questioning of other ministers. Parliament had questioned Foreign Minister Sheikh Ahmed Nasser alMohammed Al-Sabah -- also part of the royal family -- over corruption claims and alleged misuse of public funds. Sheikh Ahmed survived a no-confidence vote on February 16, but Defense Minister Sheikh Hamad Jaber Al-Ali Al-Sabah said the lengthy grilling was an “abuse” of power. UN Urges Peaceful Dialogue in Sri Lankan Crisis The UN human rights office is urging the Sri Lankan government to engage in peaceful dialogue, not violence, to quell rising discontent over the country’s economic crisis. Tensions have been rising since Sri Lanka announced a state of emergency and other restrictions a few days ago. The action was taken to rein in mass gatherings of people protesting the country’s worst economic crisis in decades. UN human rights spokeswoman Liz Throssell said there are worrying signs that the government is losing patience with the largely peaceful demonstrations taking place across the country. She said people are demanding action to stem the rising cost of living, shortages of fuel and other essential commodities. “We have seen brutality in the past and I understand that there were a number of arrests, dozens of arrests. Fifty or so people were detained in response to one of the protests. And there was, as I said, reports of excessive and unwarranted police violence against protesters,” she said. Throssell said there is concern that the state of emergency will be used to stifle dissent and peoples’ right to freedom of expression and assembly. She said using emergency powers to prevent people from expressing grievances through peaceful protests would violate international human rights law. Pakistan Court Adjourns Hearing on Khan’s Bid to Stay in Power Pakistan’s Supreme Court adjourned until Wednesday a hearing to decide the

Court Grants Indian Journalist Permission to Travel Abroad The Delhi High Court has allowed prominent Indian journalist Rana Ayyub to travel abroad, six days after she was prevented from taking a flight to Europe to speak in a series of lectures there about harassment and intimidation of journalists in the world’s largest democracy. On Tuesday, March 29, the independent investigative journalist, who writes for The Washington Post, received an emailed summons from India’s Enforcement Directorate (ED), which investigates financial crimes, 14 minutes before her flight for London was to depart from Mumbai. Known as a Look Out Circular [LOC], the summons was related to an investigation the directorate is conducting into the alleged misuse of donations that Ayyub collected for relief work during the COVID-19 pandemic. On Monday, the court quashed the LOC, noting that it was “mala fide,” or “devoid of merits,” and infringed on the “human right [of Ayyub] to travel abroad and exercise her freedom of speech and expression.” The court has now allowed Ayyub to travel abroad on the condition that she shares her detailed itinerary with the ED and return to India by April 11. Wimbledon Organizers Meet UK Govt on Russian, Belarusian Players The All England Lawn Tennis Club (AELTC) is holding talks with the British government on the participation of players from Russia and Belarus at this year’s Wimbledon, saying on Tuesday that it hopes to announce a decision in mid-May. Russian and Belarusian players have been allowed to compete on the regular ATP and WTA Tours but not under the name or flag of their countries following Moscow’s invasion of Ukraine. Belarus was a key staging area for the invasion, which Russia says is a “special military operation.” Russia was also banned from defending its Davis Cup and Billie Jean King Cup team titles. “We have noted the UK Government’s guidance regarding the attendance of Russian and Belarusian individuals in a neutral capacity at sporting events in the UK,” the AELTC, organizers of the grasscourt Grand Slam, said in a statement. “This remains a complex and challenging issue, and we are continuing to engage in discussion with the UK Government, the Lawn Tennis Association, and the international governing bodies of tennis. “We plan to announce a decision in relation to Wimbledon ahead of our entry deadline in mid-May.” British Sports Minister Nigel Huddleston had said last month he would not be comfortable with a “Russian athlete flying the Russian flag” and winning Wimbledon in London.

WEDNESDAY APRIL 6, 2022 • T H I S D AY

WEDNESDAY, ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

PEOPLES DEMOCRATIC PARTY PRESIDENTIAL ASPIRANTS... L-R: Mohammed Hayatu-deen; Bauchi State Governor, Bala Muhammed; Oyo State Governor, Seyi Makinde; Senator Bukola Saraki and Sokoto State Governor, Aminu Tambuwal, during a visit to Makinde, at the Government House, Agodi, Ibadan... yesterday

Igbo People Are Not Cursed, Okorocha Replies Bakare APC national youth leader seeks more than 25% votes in South-east Emmanuel Addeh in Abuja An All Progressives Congress (APC) presidential hopeful and former Governor of Imo State, Senator Rochas Okorocha, yesterday maintained that contrary to the position of Pastor Tunde Bakare that Igbo people are under a curse, they remain the most blessed and resourceful people in the country. Speaking when the newlyelected APC National Youth Leader, Mr Dayo Israel, visited him in his Abuja office, Okorocha described Bakare’s comment as unwarranted. The General Overseer of Citadel Global Community Church, formerly known as Latter Rain Assembly, Bakare, had in a video insisted that he needed to break the curse Tafawa Balewa placed on Igbo people before he died so the Igbos can rule like every other tribe in the country. He said Balewa cursed the Igbo people the day he was killed, stressing that it will be difficult for the South-east to access the country’s presidency like any other Nigerian until the curse is revoked. But Okorocha stressed that the Igbo people have enjoyed a cordial

relationship with the Hausa people, noting that it was wrong to say that a people who have the best brains around are cursed. “That's why when I listened to Pastor Tunde Bakare mention that the Igbo were cursed in the course of preaching, I think that was an overstatement and an unwarranted preaching. “And I must say categorically that the Igbos are not cursed. They are not cursed and they will never be cursed. If anything, they are wonderful Nigerians, beautiful Nigerians, peace loving Nigerians, who are found in every nook and cranny of this country,” he stated. The senator representing Imo West posited that although the way Igbo people play politics may be faulted, it was inappropriate to say that they are under a curse. “Probably, you might say they don't play the politics the way it’s played in Nigeria. They might not be good politicians, but definitely they're not cursed and the relationship between the Igbos and the north has been more cordial than anything else. “They have enjoyed a wonderful relationship with the north. If not for that abridgement of the first

democratic administration, all these issues of zoning wouldn't have been counting. If Shehu Shagari had finished successfully, an Igbo man was supposed to be president at that time. “So, I want us to realise that Igbos are a great asset in this nation, they are not the problem. But that is not to say that their style of politics is actually the best, because Igbos must learn to reach out and reach out to other ethnic groups. And they don’t understand them, because

Journalists covering the ruling All Progressives Congress (APC) were yesterday evicted from the press centre situated within the party secretariat, allegedly on the orders of the National Chairman of the party, Senator Abdullahi Adamu, following his health concern. The decision, THISDAY gathered, might not be unconnected to the inability of Adamu to walk up the stairs to access his office and the hall, where the National Working Committee (NWC) members hold meetings on the third floor. Since Adamu assumed the leadership of the party and started coming to the secretariat, it

always took him between 15 and 20 minutes to walk up the stairs, a development many had feared could affect reporters covering the beat. However, the fear of evicting journalists was confirmed yesterday when renovation works allegedly started at the Media and Publicity office, which was beside the press centre on the ground floor of the secretariat. The journalists were forced to leave the press centre and ended up under a tree within the premises to file their reports. It was further gathered that Adamu might eventually convert the Media department of the party and the press centre to his office pending the installation of a lift

entire nation. " And I think the situation has pushed them to the wall. What we're seeing is a reaction of people who have been deprived of basic amenities of life or have been deprived of opportunity to work,” he stated. In his comments, Israel described the South-east of Nigeria as arguably the most enterprising region, saying that the Igbo man can go anywhere and survive economically as well as create business opportunities.

“As a matter of fact, one of the things I teach young people is the Igbo model of enterprise. They go in there, they find a young person, they mentor, empower them on establishing a business, and I think that is very commendable,” he stated. He stressed that although the region also happens to be the region that has hardly voted for the APC in a long time, the party will not just have 25 per cent in the 36 states of the Federation, but win in Igbo land.

UTME: Oloyede Tackles Lawmakers over Allegation of Multiple Fees’ Imposition on Candidates Mock exams hold nationwide Saturday Kuni Tyessi in Abuja The Registrar and Chief Executive Officer of the Joint Admissions and Matriculation Board (JAMB), Prof. Is-haq Oloyede has criticised the House of Representatives, for falsely accusing the Board of imposing

APC Evicts Journalists from Press Centre in Party Secretariat over Adamu’s Health Challenge Adedayo Akinwale in Abuja

they're highly misunderstood,” the lawmaker explained. Okorocha stated that Nigeria’s challenge is how to make the best use of “the greatest asset of God to mankind”, the youths, but said that the country has not been able to harness the potential of its young people. “The youth must be given opportunity and kept busy. As long as the youths are not busy, the society is in trouble for it. I think the youths of Nigeria have been very, very patient with the

at the party secretariat, for ease of movement. A staff of the party, who informed journalists about the development under the condition of anonymity, explained that the party was "remodelling" hence the reason for the eviction. "We are remodeling the secretariat. My office is also affected. As I am talking to you, I have no office now," he said. While the media and publicity department would now make use of the National Executive Committee (NEC) meeting room for the period the remodeling or renovation is expected to last, no alternative was provided for journalists covering the governing party.

multiple fees on candidates preparing to take the Unified Tertiary Matriculation Examination (UTME). Oloyede who has been nominated by Vanguard Newspapers for an award of excellence, expressed his displeasure while responding to questions on the level of preparations for the mock UTME slated for Saturday April 9th nationwide. Oloyede said he was disappointed in the lawmakers, for initiating a probe over an allegation that was baseless and lacking facts, noting that it was a calculated attempt to embarrass the Board and possibly derail it from its core mandate. The House of Representatives had in its plenary session recently, took a resolution to probe JAMB over alleged imposition of multiple fees on candidates, following a motion raised by Honourable Sergius Ogun, PDP-Edo. The House had listed charges on printing of JAMB result slip, N1000, printing of admission letter N1000, change of institution/course N2500 and retrieving of registration number N1000 as areas it intends to probe the Board. In his motion, Ogun had stated that section 88(1) and (2) of the Constitution empowers the National Assembly to conduct investigations into the activities of any authority

executing or administering laws. He had also submitted that JAMB was established to control the conduct of matriculation examinations for candidates seeking admission into Universities, Polytechnics and Colleges of Education in Nigeria, but alleged that in recent times, in addition to the registration fees for the examination, all sorts of processing and administrative fees were imposed on JAMB examination candidates. But while writing the allegations off, Oloyede said he expected the lawmakers to be more factual in their allegations, rather than peddling falsehood which could pass for a calculated attempt to derail the examination agency from its mandate. He said, "as regards the resolution of the House, I will not want to talk about it, we feel that the purpose was to discourage us, but we won't be discouraged, I believe I should not talk about it until we are invited, it’s an allegation but we expected that an allegation to come from the House should be something solid and based on facts. "So I am a bit disappointed that somebody could use absolute falsehood just to embarrass us, if it is the intention as we expect to discourage us from doing what we are doing, we will not be deterred, we expect

Nigerians to know Nigerians to know when their representatives are doing what is right and what is not right, I can't say more than that for now,” he added. Meanwhile, the UTME mock examination was expected to take place this Saturday nationwide. But owing to prevailing increase in diesel price, Oloyede said the Board has allowed the CBT centres to slightly increase their service charge to order to enable them offer reliable services. According to the Registrar, the initial amount permitted to be charged was N700 but due to the energy crisis, no centre should charge candidates above N1000. "Yes we have allowed the accredited CBT centres, we have even said anybody who can decrease can do so, but we have hitherto asked the centres not to charge more than N700, now we have seen the reality, and we said they could charge up to N1000. "So, the reality is the truth, unless you don't want them to conduct the examination, we have done the analysis of their expenses and if we insist they must put on their Airconditioners, it means the cost of generator or diesel has to be taken into consideration. We are not increasing our charges," he noted.

WEDNESDAY, ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

LOC VISIT MR GOVERNOR... L-R: Past President, Association for Consulting Engineering in Nigeria (ACEN), Engr. Mayen Adetiba; ACEN President, Engr. Ajibade Oke; Lagos State Governor, Mr. Babajide Sanwo-Olu and the Local Organising Committee Chairman, International Federation of Consulting Engineers (FIDIC), Engr. Akinyele Akindayomi, during FIDIC LOC courtesy visit to the Governor, at Lagos House, Marina, Lagos... yesterday

SGF: Amend Acts Establishing FGOEs to Reflect Economic Realities Buhari approves part-time chairman, members of NAICOM board

Ndubuisi Francis in Abuja The Secretary to the Government of the Federation (SGF), Boss Mustapha has canvassed the amendment of the establishment Acts of Federal Government Owned Enterprises (FGOEs) to reflect the current economic realities in the country. This was contained in a keynote address by the SGF at a retreat for chief executives and treasury directors of revenue of FGOEs, held in Abuja. A statement issued by the Director (Information, Press and Public Relations), Office of the Accountant General of the Federation (OAGF), Henshaw Ogubike said

the SGF was represented at the event by the Permanent Secretary, General Services Office, Office of the Secretary to the Government of the Federation (OSGF), Maurice Nnamdi Mbaeri. Mustapha noted that such amendment should also reflect government's current policy thrust in optimising revenues accruing from the FGOEs through remittances of operational surpluses. "Equally important is the amendment of the establishment Acts of some FGOEs to reflect current economic realities and policy thrust of the government in optimising the revenues accruing from FGOEs through remittances of operational

2023 Presidency: Group Flays PDP Governors for Attacking Emeﬁele Sunday Aborisade in Abuja The Emefiele Support Group (ESG) yesterday took a swipe at the state governors elected on the platform of the People’s Democratic Party (PDP) over their recent political statement. The ESG specifically attacked the PDP governors for accusing the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, of allegedly spending billions of naira on his 2023 presidential campaign. The group, which is campaigning for the emergence of Emefiele as the next President of Nigeria, threatened to expose the governors and their looting of state resources, if they did not stop the unnecessary attacks. The group's position was contained in a statement signed by its Director of Communications, Benigna Ejimba, and made available to THISDAY. The ESG said it would not hesitate to expose how some of the governors had been allegedly sabotaging the apex bank and the President Muhammadu Buhari’s efforts. The group wondered if Emefiele was the reason they were busy in their states allegedly diverting local government resources.

It warned that the governors should not force it to open a can of worms on them. Part of the statement read, “We urge the PDP state governors to stop crying like babies even when Dr Emefiele has not told anybody that he will run. “We know that the governors are already scared that Emefiele will give them a good run for their money if he decides to heed our call and contest. That is why they have switched into panic mode and are looking for a way to scare from joining the race. “They should however know that we have their dossiers. We know what they do with their local governments and states allocation. We know what they do with the money meant for small scale businesses in their states. “Really, we pity the PDP state governors who are scared to run against Emefiele because of his capacity. “They have been having sleepless nights since they heard of our clamour for Emefiele to join the race. The CBN governor has become their political nightmare even when he is not yet in the race. “We make bold to say that if and when Emefiele heed our calls to contest, these governors should be ready for a humiliating defeat.”

surpluses," he said. The SGF explained that that there was the need for strong corporate governance reform, expenditure controls and strengthening the budgetary and financial reporting requirements of the FGOEs. In her address, the Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, said domestic revenue mobilisation was strategically pivotal to sustainably finance Nigeria's development needs. The minister, who in 2020 approved the deployment of Treasury Revenue Directors to 10 FGOEs, advised the Treasury Directors of Revenue and the FGOEs to work together to achieve the desired objective. Also speaking, the Accountant General of the Federation, Ahmed

Idris said the deployment of Treasury Directors of Revenue to FGOEs impacted positively on internally generated revenue (IGR) as it rose from N532.90 billion in 2020 to N1.250 trillion in 2021. Idris expressed optimism that there will be greater improvement in government revenue inflows if the policy is sustained. Meanwhile, President Muhammadu Buhari has approved the appointment of a part-time chairman and members of board of the National Insurance Commission (NAICOM). The appointment is based on the fact that the chairman and the current board members of the commission were appointed for a four-year term with effect from March 8, 2018 and their tenure will expire on March 7, 2022.

In a statement, the Special Adviser, Media & Communications to the Minister of Finance, Budget and National Planning, Yunusa Tanko Abdullahi named those appointed as Dr. Abubakar Sani (chairman), Chief Robert Ohuoba (member), Mrs. Ijeoma Chinenye Ekeocha (member), and Alhaji Muazu Barau (member). Based on the terms of appointment of the chairman and members of the board of the commission as stipulated in Section 3(1) of the NAICOM Act 1997, they are expected to hold office for a period of four years. Sani holds a Master’s Degree in Business Administration and a Bachelor’s Degree in Actuarial Science, both from Ahmadu Bello University (ABU), as well as Honorary Doctorate Degree in

Management. He has a vast experience in insurance industry. Ohuoba is a legal practitioner with more than 20 years experience, while Ekeocha holds a Master’s Degree in Business Administration (Project Management) with strong private sector experience. Barau holds a Master’s Degree in Business Administration and Master’s Degree in International Affairs and Diplomacy both from ABU, Zaria, as well as a Bachelor’s of Science in Business Management from University of Maiduguri. He has over three decades experience in the banking and finance sector of the Nigerian economy. They are all expected to help steer and transform the insurance industry and propel the sector to a high pedestal.

Uproar as Telcos Bar Outgoing Calls on Unlinked SIMs Sunday Ehigiator

Following the implementation of a federal government’s order directing telecommunication companies (telcos) to bar unlinked Subscriber Identification Modules (SIMs) from making outgoing calls, some affected Nigerians have taken to social media as well as stormed the telcos’ offices around Lagos state, to express their displeasure The federal government had on Monday ordered telcos to bar outgoing calls on all unlinked SIM cards in the country. Consequently, over 72.77 million active telecommunication subscribers were barred from making calls on their SIMs yesterday, according to a joint statement signed by the Director of Public Affairs of the Nigerian Communications Commission, Dr. Ikechukwu Adinde, and the Head, Corporate Communications at the Nigeria Identity Management Commission,

Mr. Kayode Adegokewere. However, speaking with THISDAY during a visit to MTN’s office at the Ketu area of Lagos State, an affected subscriber, Kazeem Owonikoko lamented that although he had linked his SIM to his NIN, he was surprised that his line was also barred from making outgoing calls. According to him, “I linked my line since 2021, and I was surprised to wake up this morning and tried to call my business partner and got information that my number has been barred from making outgoing calls. “I don’t understand what is going on, that is why I am here. I still have the message I was sent to confirm that my number has been linked on my phone. I didn’t delete it. This is unfair.” Another affected subscriber, Mrs. Bolarinwa Dosunmu lamented that she woke up to meet an urgent message from her daughter who is in a boarding

school on her phone and she tried calling her back only to be informed that her number was barred from making outgoing calls. “My daughter sent me a message late last night which I woke up to see this morning. I tried reaching her back but discovered my line has been barred from making calls. How do I even reach her? “I don’t even know if she is safe. She is in a boarding school and this is my only line. There should have been a notice to those of us yet to link our lines before this action was taken. “Some of us are very busy; we don’t even have internet phone or access to news. An SMS reminder on daily basis counting down to the deadline could have saved us all from this mess. “We are calling on the federal government to open another window for we affected persons to do the linking.” The story was not different on Twitter, a social media platform.

A Glo user identified as Omotayo of Lagos, wrote, “Glo is always slow in everything until it’s time to start blocking lines because of NIN-SIM linkage. They can't even wait for 24hours after the announcement before barring people from making calls, so rich coming from a company who can't provide a stable network for its customers.” Another user identified Ehis Aigbe Tweeted: “Bandits, kidnappers, and terrorists, particularly in Northern Nigeria, are freely making calls to carry out their wicked acts. Then what is the essence of NIN-SIM linkage?” Similarly, David Onyemaizu Tweeted: “The NIN-SIM linkage is still not relevant. Barring over 72 million subscribers will only affect the service providers and cut down their profits. Also, it won't prevent any insecurity. Most Nigerians are not ready for government policies that only put a strain on them.”

WEDNESDAY, ;˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

HOTEL SAFRON BERTHS IN IKEJA... L-R: Chairman, Svengali Limited, Anselm Tabansi; Chairman, Imperial Lubes and Chemicals Limited, Chibueze Okorie; Chairman, Safron Hospitalities, Bayo Fatusin, and Chairman, Kohinoor Hospitalities, Collins Chikeluba, during the opening of Hotel Safron in Ikeja, Lagos...recently

2023 Election: INEC Warns Parties against Disobedience to Elections Guidelines Says any congresses or conventions not monitored by commission becomes invalid

Chuks Okocha in Abuja The Independent National Electoral Commission (INEC), yesterday, warned all the 18 registered political parties participating in the 2023 general election, that, there must be strict adherence to the timetables and schedules of elections released recently, else there would be consequences. The commission, therefore, noted that any of the political parties, whose presidential conventions or congresses were not monitored by the commission would render the exercise null and void. PDP had last week raised the alarm that the APC was trying to arm-twist the commission to amend the electoral act and change the already announced electoral timetables and schedules

of the 2023 general election. The opposition party claimed there was a clandestine plot by the President Muhammadu Buhari presidency and the All Progressives Congress (APC) to alter the newly passed Electoral Act 2022 to introduce clauses that would compromise the 2023 elections. But the ruling party, has yet to announce its 2023 election timetable and schedules of 2023 elections or disclaim PDP’s assertion. This, in a strongly-worded statement by INEC’s national commissioner and chairman, Voter Education, Festus Okoye, titled: "Adherence to the 2023 Election Timetable and Schedule of Activities by Political Parties", the Commission said it would adhere to the timetable

ONCE AGAIN, TERRORISTS STRIKE KADUNA, ATTACK MILITARY CAMP, KILL 15 SOLDIERS, THREE CIVILIANS the people must elect the right leaders in 2023 to take the country to the next level. The governor spoke, when one of the All Progressives Congress (APC) national leaders, Asiwaju Bola Tinubu, visited him in Kaduna to commiserate with him over the recent attack on a Kaduna-bound train. He said the challenges presently bedeviling the country were human, and that they were not intractable, because they could be solved. "We need a society that can be just and equitable, where no group of people will lord it over others," the governor said. Governor el-Rufai, who also harped on the presidential aspiration of Asíwájú Tinubu, said, "We are aware of your aspiration to lead this country. We look forward to further engagements on this.” He thanked Asíwájú Tinubu for the visit and for coming to commiserate with the state, saying, “We appreciate you. Thank you."

Attack on One Nigerian is Attack on All, Says Tinubu

A Presidential hopeful, Bola Tinubu, yesterday, said in Kaduna, Kaduna that an attack on one Nigerian was an attack on all in the country. Speaking when he visited the state to commiserate with the government and people over last week's attack on an Abuja-Kaduna train, Tinubu urged all Nigerians to contribute their quota to efforts to rehabilitate the victims and prayed for a repose of the soul of those,

who died in the incident. "I'm here to sympathise with Governor Nasir el-Rufai and the people of the state over the train attack. It is a national disaster. It's a blow to all of us. Nigeria bleeds. We need to fight terrorism with all we have. I understand some people were killed while some others are missing. It is frustrating. "The governor is a symbol of our unity. Once in a while, we still remember the first stanza of our old national anthem – although tongues and tribes may differ, in brotherhood we stand. If enemies of peace and progress think they can deter us as a nation, we must together stand against them and say no," he stated. He, however, donated the sum of N50million to cushion efforts to rehabilitate the victims of the attack and later visited the St Gerald's Hospital to see some of the victims. In his responce, el-Rufai expressed gratitude to Asíwájú Tinubu for taking time to come and commiserate with the state and said the visit preempted his plan to come to Lagos to thank Asíwájú for honoring the people of Kaduna State by canceling his 70th birthday on the day of the event because of the train disaster. "This gesture is a powerful show of leadership and empathy unprecedented in our national history. The government and people of Kaduna State will not forget this. We are grateful to you for your sacrifice and commitment to the greatness of our country," he said.

already announced. "The Commission wishes to reiterate that parties must adhere strictly to the principles of internal democracy, drawing from their constitutions, guidelines, the Electoral Act and other Regulations and Guidelines issued by the Commission. "Their candidates for the 1,491 constituencies for which elections will be conducted in 2023 must emerge from democratic, transparent and valid primaries, in line with the provisions of Sections 29 and 84 of the Electoral Act, 2022. "Where a political party fails to comply with the provisions of the Act in the conduct of its primaries, its candidate shall not be included in the election for the particular position in issue.

"As required by law, the Commission shall monitor the primaries of each political party that provides the required legal notice in line with Sections 82 (1) and (5) of the Electoral Act. "Failure of a political party to notify the Commission of any convention or congress convened for the purpose of nominating candidates for any of the elective offices specified in the Act shall render the convention or congress invalid. "Primaries must be conducted in the various constituencies as provided in Section 84 of the Electoral Act as it is a violation of the law to conduct primaries outside the constituencies for which parties are nominating candidates. "The Commission will not monitor

such primaries and their outcome will not be accepted," INEC said. INEC, therefore, enjoined political parties to avoid acrimonious primaries that could result in unnecessary litigations that might lead to failure to nominate and field candidates for elections in some constituencies. INEC urged Nigerians to recall that on Saturday 26th February 2022, it released the Timetable and Schedule of Activities for the 2023 general election. It further said the timetable provided detailed activities, including the conduct of primaries, nomination of candidates by political parties and other activities leading to the Presidential and National Assembly elections on Saturday 25th February 2023, followed

by the Governorship and State Assembly elections on Saturday 11th March 2023. INEC stated that all the activities were in line with the provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and the Electoral Act, 2022. The statement further stated that, "So far, two out of the 14 activities in the Timetable and Schedule of Activities have been successfully accomplished. The Notice of Election was published on 28th February 2022, while nomination forms have been made available on the Commission’s website since 1st March 2022 for political parties to download and issue to their candidates." Continued online

Fashola: MKO Won 1993 Presidential Poll After Defeating Tofa at Debate Advises electorate against voting politicians who shun debates Ex-white house staff canvasses legislation compelling political debates Emameh Gabriel in Abuja Minister of Works and Housing, Mr. Babatunde Raji Fashola (SAN), yesterday, alluded to the importance of debate in an election, when he said the late Chief MKO Abiola won the 1993 presidential election at a debate held ahead of the election. He, therefore, said there must be deliberate efforts by political office seekers to present themselves for public scrutiny through political debates, as yardstick to help the electorate make informed decisions in the process of recruiting public officers. This is as a former staff White House appointee (Management and Budget) and Executive Director, Commission on Presidential Debate (CDP) Janet Brown, said it would not be out of place to consider a compulsory legislation for political debates for public office seekers in Nigeria before elections. Fashola who spoke as a panelist at the 12th Anniversary Symposium of Enough Is Enough Nigeria (EiE) with the title: 'On Debate and Democracy', said debates do not only help voters make informed choices, they also encourage candidates to focus on policy issues, a conviction he claimed was widely held by

observers. The event, which was designed to celebrate twelve years of EiE in deepening the democratic values of the country and to explore how political debates contributed to democracy via citizens' engagement, role of the media and role of political parties, featured key media personalities, politicians and stakeholders in other fields, who deliberated extensively on the importance of political debates. Citing how Abiola, turned the tide against his opponent, Bashir Othman Tofa, candidate of the National Republican Convention (NRC), the former Lagos State governor noted that a well-functioning democratic structure and strong political governance were central to economic development but the lack of background information about prospective public officers before elections, weaken accountability and decision making. He said giving voters access to information through debates between rival candidates could significantly improve their knowledge and increase democratic participation. According to Fashola, who also advised the Nigeria's electorate not to vote for politicians, who have developed the attitude of shying

away from political debates, "The idea of democracy itself is not divine, it was created by men to allow participation and it requires continued human intervention "On election day, what you see is the ballot paper, photos, possibly, the names of the candidates. This doesn't tell you what they know about your life, whether you feed, whether they are God-fearing, whether they have empathy. "So, it is platform like this that helps you decide ahead in making a choice or what kind of person you will be entrusting the most serious job, either in your local government or in your state, or in your country too. "That became very defining for me as a young person in 1993. The biggest single item in the economy space in the country then was the price of petrol. And if you asked people before that election, it was thought that it was difficult for MKO to defeat Tofa given the general perception. "But on that night, it became clear to Nigerians, who watched the debate that the most important issue about them, only one of the candidates had the consciousness about it. And what was normal for them was to gravitate towards that

candidate. And I remember that was why I went out to vote for MKO that day. "If you do a survey, even in the north, where it was thought that MKO didn't have a link, the price of fuel was a major issue, and it probably tilted the election. This is one of the many processes for making informed choices. "In 2007, people didn't know who I was politically. People, who knew me were the judges and the lawyers in the court room. And they said where did you bring this candidate from? And it was clear to me that the only way I was going to connect with the people was during debate. "I had three debate rehearsals as a candidate. With politicians, lecturers and journalists,” said Fashola, who advised that political debates should be organised in places like university campuses. According to him, "These are the issues of accountability, honesty and which way you should go. The evidence is there. It is more of the many ways in which we can interrogate people we are entrusting with the most important job. It's a job interview, as we (politicians) have been told. Continued online

WEDNESDAY APRIL 6, 2022 ˾ T H I S D AY

NEWS

Aiteo, Shell, Seven Nigerian Banks Tango over Alleged $2bn Debt

Emmanuel AddehinAbuja

The legal tussle between Aiteo Eastern E&P Company Limited, Shell Plc, Africa Finance Corporation (AFC) and seven Nigerian banks over a $2 billion loan, has landed the parties in an English court, THISDAY learnt yesterday. A high court in England has therefore ruled that Aiteo could not block the complainants from proceeding with the case against it when a suit initiated by the plaintiffs against the oil firm had yet to be decided upon. In 2014, Aiteo, as part of its strategy to position itself for greater participation in Nigeria’s oil and gas industry, acquired Oil Mining Licence (OML) 29, from Shell Petroleum Development Company (SPDC). The oil lease, considered as one of the most endowed acreages, was acquired along with Nembe Creek Trunk line, an associated crude oil pipeline, after the Group’s $2.7 billion bid was approved by the authorities. While the actual cost of the acquisition of the oil block and Nembe pipeline was reported to be $2.562 billion, the balance was additional funds earmarked

as working capital for the takeoff of the project. A few years later, specifically in 2918, Aiteo was said to have approached its creditors for a renegotiation or restructuring of

the debts after the declaration of incessant force majeure, a request the complainants reportedly turned down. On October 23, 2019 the lenders’ Nigerian lawyers, Aluko &

Oyebode, was said to have sent a letter demanding payment of the outstanding debt within seven days. But eight days later, Aiteo commenced proceedings against

the lenders as well as four other parties in the Nigerian Federal High Court, asking the court to declare that it was not liable as alleged in the demand letter. The matter later dragged beyond

the borders of Nigeria, with the verdict approving the “final antisuit injunction” delivered on April 1, last week, according to court documents quoted by Premium Times, an online news outlet.

TRAINING BROADCASTERS...

L-R: ExecutiveSecretary,BroadcastingOrganisationsofNigeria(BON),DrYemisiBamgbose; ChiefExecutiveOfficer(CEO)JimiOdumosuProductions,JimiOdumosu; CEO,MultiChoiceNigeria/ Chairman of BON, John Ugbe; Academy Director, MultiChoice Talent Factory, South Africa, ,Bobby Heaney and Executive Head, Content and Channels, West Africa, Busola Tejumola during the BON training for broadcast stations in Nigeria, organised by MultiChoice Nigeria in Lagos…recently

Omo-Agege Gets Seven-Day Makinde: PDP ‘ll Give Nigeria Acceptable Ultimatum to ‘Repair’ Delta APC President through Consensus Option Omon-Julius Onabu inAsaba The unresolved crisis rocking the All Progressives Congress (APC) in Delta State may have taken a turn for worse as members of the party in Ika Federal Constituency of the state yesterday issued a seven-day ultimatum to the Deputy President of the Senate, Senator Ovie OmoAgege, to restore all the wards he allegedly hijacked during the last party congresses. At an enlarged meeting held in Boji-Boji Owa in Ika North-East Local Government Area of the state, the aggrieved members symbolically pulled down the party’s flag as a gesture of their disapproval of the alleged dictatorial leadership style of Senator OmoAgege, warning g that the looming storms of disaffection would sink the APC unless immediate steps were taken to thoroughly conduct a reconciliation of the feuding executive members. Specifically, the members in a voice vote urged “the college of

leaders in the state” to within seven days meet with the national executive council of the party to address the lingering disputes where some members were allegedly given the short end of the stick. The college of leaders include Minister of State for Labour and Productivity, Chief Festus Keyamo, Dr Cairo Ojougboh, Chief Great Ogboru, Hon Victor Ochei, Dr (Mrs) Mariam Ali, Dr Alex Ideh and a host of others, THISDAY learnt. Addressing the meeting, the Delta North senatorial chairman of the party, Mr. Ifeanyi William Aghaulor, however, appealed to the APC loyalists to be calm and remain resolute as nobody can be manipulated or election rigged any more under the new electoral act, adding that the Delta State could not afford to miss out and allow PDP to keep its hold on the state simply because of attitude of one man, the deputy president of the Senate, in handling the the affairs of the party in the state.

Kemi Olaitan in Ibadan

Oyo State Governor, Seyi Makinde, yesterday said that the presidential candidate of the Peoples Democratic Party (PDP) for the 2023 election would be someone that has everybody’s buy-in. The governor, who was speaking while receiving leading presidential hopefuls of the party, who paid him a

visit at the Government House, Agodi, Ibadan, said that the party would ensure the presidential candidate emerges through a consensus arrangement. Makinde, who received the team of presidential aspirants including former President of the Senate, Dr. Abubakar Bukola Saraki, Governor of Sokoto State, Hon. Aminu Tambuwal, the Governor of Bauchi State, Senator Bala Mohammed,

and economist and banker Mohammed Hayatudeen, said that stakeholders in the PDP would work hand-in-hand to ensure the consensus option pulls through. A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the governor pledged to work with the aspirants to ensure that the PDP picks a consensus presidential candidate.

He appreciated the presidential aspirants for coming up with the consensus idea and noted that the party will work together to give to Nigeria, a president through a process that has “everybody’s buy-in.” He said: “I want to really thank you my senior colleagues for this visitation. We have discussed behind closed doors the issue of the consensus arrangements we are trying to put together.

Amotekun, Soldiers Clash over Arrest of 100 Cows Belonging to Officers in Ondo Fidelis David in Akure Operatives of the Ondo State Security Network Agency, codenamed Amotekun and the soldiers attached to the 32 Artillery Brigade, Akure yesterday clashed over the arrest of cows that violated the anti-grazing law of the state. A source, who witnessed

the incident with a video evidence said: “It happened at the back of CAC Adu Memorial Secondary School, in Oke-aro area of Akure, the state capital. The men of Amotekun arrested about 100 cows which have been destroying farmlands and other valuables in the area. He noted that men of the Amotekun were resisted from

taking the cows away by the soldiers claiming that the cows belong to their officers in the barrack. The source told journalists that “while the Amotekun personnel were matching the arrested cows to their office at Alagbaka area of the state, soldiers numbering about 10 stormed the area with Hilux vehicle and prevented the

arrest of the cows. “The soldiers insisted that the Amotekun men would not go away with the cows because they belonged to their officers from the military barrack. But the Amotekun officers insisted that the cows have violated the anti-grazing law and must be taken to the office for the owners to bail them or pay for the damaged farmlands.

Sponsor Bill against Defection, Says House of Representatives Aspirant Dele Momodu Cautions I’ll The aspirant, who obtained Assembly because he refused to belong to APC or PDP. Chuks Okocha in Abuja Peoples Democratic Party to defect to the APC with the “All the flimsy excuses PDP against Surrendering Worried by rampant defections his (PDP) nomination form governor. they have been given that “The incident of impeaching warranted his impeachment officials, a House yesterday, said the defection of Ticket to Money Bags ofof elected Representatives aspirant Zamfara State governor Bello the deputy governor is very remain condemnable and I Onyebuchi Ezigbo in Abuja

Ahead of the decision of Peoples Democratic Party (PDP) on the zoning of its presidential ticket, one of the presidential aspirants, Mr. Dele Momodu, has urged the party not cave in to the antics of wealthy politicians seeking to buy the ticket at all costs. He warned the party that allowing its presidential ticket to be purchased by the highest bidder may spell doom for its quest to reclaim power at the centre. Momodu, who spoke on the ARISE News Channel, programme, The Morning Show yesterday said that he expected party delegates to be guided by the desire to put the best

candidate forward for the 2023 election and not to be swayed by selfish interests. “I said some people want to buy our presidential ticket. This is a known fact. There is no question about that, all the people boosting publicly that nobody can deny them the ticket, it is because they know they have bought it already,” he said He, however, cautioned that no billionaire has ever won Nigeria’s presidency in history. “Even if the Nigerian voters are not going to be part of delegates to select the presidential candidate, they are watching and saying, are we going to allow one man buy the entire country,” he said.

for Kaura Namoda/Birnin Magaji Federal Constituency of Zamfara State Jibo Magayaig has promised to sponsor a bill that will put to an end cross carpeting by elected political officeholders unless they vacate office.

Matawalle from PDP on which platform he was elected, to the All Progressives Congress (APC) is unfortunate. He also condemned the impeachment of the former deputy governor Mahdi Mohammed by the state House

unfortunate. It is so sad that the executives are using impeachment instrument to settle political discord. I have seen nothing wrong in what the former deputy governor did. He is a man of himself, old enough to decide for himself, whether

am telling you by God grace PDP is coming back to power come 2023,” he stated. Magayaig regretted that his constituency has suffered bad representation for a long time, and promised quality representation if elected.

House Committee Urges NSITF to Remit N3.8bn to Govt Coffers Juliet Akoje in Abuja The House of Representatives Adhoc Committee on the recovery of N1.2 trillion unclaimed funds has disclosed that the Nigerian Social Insurance Trust Fund (NSITF) owes the federal government N3.8 billion. This was made known by the Chairman of the Committee,

Hon. Unyime Idem, during its continued investigative hearing yesterday. Idem said the sum represented the amount which was not remitted to the government by the agency from 2016 to 2018. According to him, the agency submitted audited financial statements for only this period and the debt figure was arrived

at by the committee from the documents it received. “These figures are extracted from documents that they submitted before us. I wonder what would happen by the time they fully submit all the documents required by this committee,” Idem said. He also revealed that the National Business and Technical

Examinations Board was yet to remit the sum of N268 million to the tederal government. He said the sum covered the period from 2015 to 2020. “Based on the documents they have submitted so far, though they still have a lot of documents to submit, but so far, we have been able to discover infractions to the tune of N268 million.“

WEDNESDAY APRIL 6, 2022 ˾ T H I S D AY

NEWSXTRA

Russia-Ukraine War: NESG Wants Measures to Improve Food Security +XQJHU LQÁDWLRQ PDQSRZHU ORVV ORRP LQ $IULFD ZDUQV H[ HQYR\ Dike Onwuamaeze in Lagos and Victor Ogunje in Ado Ekiti The Nigerian Economic Summit Group (NESG) has called on the federal government to take urgent steps towards improving food security in Nigeria and removing constraints on the production and supply of agricultural products to the market. The NESG said this would enable the country to mitigate the negative impact of the Russian war on Ukraine on the food supply in the country. The NESG made the call in a report titled “Implications of Russia-Ukraine War: Risks and Opportunities for Nigeria,” obtained yesterday, in which it stated that, “the tensions have triggered global supply chain disruptions, largely affecting countries exposed to trade with the warring nations.” The report further stated that the war in Eastern Europe would affect Nigeria through financial, commodity prices, technology transfer, foreign policy, and migration channels.

It said: “Uncertainties will make investors seek safe-havens, and this could prompt capital outflows from emerging markets, including Nigeria while constraints to supply due to the geopolitical tension have pushed up global commodity prices. This will generally fuel global inflation. Moreover, Nigeria has close economic ties with Russia. The crisis will hinder further procurement of expertise and equipment from Russia.” The NESG recommended specific action points that would help Nigeria to mitigate the impact of the crisis on its economy, which included removal of the constraints to agricultural productivity to improve food security, supporting value chain development to ensure that primary products are processed locally rather than exported in their raw state and implementing the Petroleum Industry Act (PIA) in a holistic manner to attract huge investments into Nigeria’s oil and gas sector. It also recommended that Nigeria should leverage the benefits of the African Continental

Free Trade Area agreement (AfCFTA), ensure effective border control, and remove capital controls in order to encourage

the inflow of stable investments, such as Foreign Direct Investment (FDI). The report referred to the

National Bureau of Statistics (NBS), which stated that Russia was among Nigeria’s top 10 import trading partners in the

third quarter of 2021, accounting for about 4.0 per cent of Nigeria’s total merchandise imports in the quarter.

MOVING TO END POVERTY...

L-R: Founder, Lagos Food Bank, Michael Sunbola; Founder, Dreamcatchers Academy and Dream Nurture Foundation, Seyi Oluyole; Nigeria Country Director, Global Citizen, Maimuna Maibe; Executive Director, Enough is Enough Nigeria, Yemi Adamolekun, and Founder/ CEO, HelpMum, Dr. Adereni Abiodun, at the launch of the End Extreme Poverty Now Campaign by Global Citizen in Lagos…recently

Bauchi APC Guber Aspirant 2023: ‘Choice of Umo Eno Lacks Equity, Fairness’ Distributes Cars, Motorcycles to Party Officials Okon Bassey in Uyo

Segun Awofadeji in Bauchi A gubernatorial aspirant under the platform of the All Progressive Congress (APC) in Bauchi State, Mr. Nura Manu Soro, has distributed 20 cars to 20 local government’s chairmen of the party in the state. Speaking at the party headquarters in Bauchi, yesterday, the governorship hopeful said 212 motorcycles were also at hand for the ward chairmen of the party across the state.

Soro explained that the 20 cars and the motorcycles were donated in support of his gubernatorial ambition by businessmen and friends for the smooth operation of the party activities. “About two or three days ago I came to the party secretariat and introduced myself and I informed my party that there are my friends, my business partners that have donated cars and motorcycles to me so that I can support my party in Bauchi,” he said.

Court Orders Fufeyin, Ighosotu Not to Jeopardise Fundamental Right Suit Alex Enumah inAbuja A Federal High Court in Abuja, has ordered both Prophet Jeremiah Fufeyin and Pastor Johnmark Ighosotu from taking steps that are capable of jeopardizing a fundamental human right suit filed before the court. The order was sequel to a formal application brought by the plaintiff, Pastor Ighosotu, who is alleging harassment, intimidation as well a threat to life by Fufeyin. Prophet Fufeyin is the founder of Christ MercyLand Deliverance Ministries while Ighosotu is Senior Minister of Gospel of God’s

Assembly (alias “Free Indeed”), both churches are based in Warri, Delta State. However, in the fundamental right enforcement suit filed through his counsel, Chief Mike Ozekhome, SAN, the plaintiff is seeking court’s protection from harassment, arrest, intimidation by the defendant or agents of the defendants over alleged defamation. Plaintiff had claimed that the defendant acting on purported character defamation, cyber conspiracies, and sundry criminal activities had invaded his church premises with over 50 fully armed Policemen.

Bayelsa, IFDC Sign MoU on Infrastructure Devt The Bayelsa State Government and the International Finance & Development Corporation (IFDC) have signed a memorandum of understanding(MoU) for investment in five key infrastructural projects as part of efforts to deepen development in the state. The USA-based IFDC is expected to mobilize funds and resources to invest and finance a 10 MTPA capacity LNG project; 35,000 - 45,000 barrels per day

capacity GTL project; 500 MW Gas to Power plant; Deep Sea Port, and Port city development projects in the State. The preliminary estimated total project cost is $17.5 billion. The President/CEO of IFDC, Mr. Kazi H. Ahmed, mandated Mr. Michael Hartman, from Germany as representative of IFDC to tidy up the investment plan and sign the agreement with the Bayelsa State Government.

The Chairman, People’s Democratic Party (PDP), Ibiono Ibom Local Government Area of Akwa Ibom State chapter, Mr. Emmanuel Etim Akpan has reaffirmed the position of the people of the area to fully support their sons vying for the governorship seat of State in 2023. The position of the PDP chapter chairman is contrary

to the position of the State Governor, Mr. Udom Emmanuel that had announced his preferred governorship candidate of the party, Pastor Umo Eno from Etinan federal constituency of Uyo Senatorial District. Hon. Akpan spoke while addressing a frontline governorship aspirant from Itu/ Ibiono Ibom federal constituency of the senatorial district, Mr. Akan Okon and his “One with

God” campaign organisation during a visit to the chapter. According to Akpan, the people of Ibiono Ibom are very passionate and sentimental about the zoning of the governorship seat to Itu/Ibiono Federal Constituency. He expressed displeasure over the recent political situation in the state were a particular candidate from Etinan Federal constituency is said to have been fingered as a preferred

candidate against the popular opinion that the governorship should go to Itu/Ibion Federal constituency. According to him, what is happening in the state is the height of injustice, stressing that the people of the area are only asking for equity and fairness. The chapter chairman maintained that the aspiration of any of their sons or daughters from the federal constituency is irreversible.

2023: APC Running against Time to Conduct Party Primaries, Says Okorocha Adedayo Akinwale in Abuja The Senator representing Imo West in the Senate and the former Governor of Imo state, Senator Rochas Okorocha, has said that the All Progressives Congress (APC) was running against time to conduct party primaries ahead of the 2023 elections. Okorocha stated this yesterday while briefing journalists after a closed-door meeting with

the APC National Chairman, Senator Abdullahi Adamu at the party’s secretariat in Abuja. The schedule of activities released by the Independent National Electoral Commission (INEC) mandated political parties to hold party primaries between April 4 and June 3, 2022. Okorocha said: “We literally have no time left to conduct party primaries. So, this present working committee has a lot on their table to deal with and it

requires faster and bigger steps to get this done. “But as you know, internal democracy is very key in this country and I believe that the present excos will ensure beautiful internal democracy where all will be happy and no one will feel deprive or cheated. “They will do their best and I have confidence in them that they will give us the best of candidates which includes; President, governors, Senators

and others.” The lawmaker said having told the whole world and Nigerians that he would be contesting for the office of the president, he was still very much in the race. Okorocha said it was appropriate that Nigerians should take a second look at vision not ambition, stressing that everyone can have ambition, but not everyone has the vision to move this nation forward.

Five Amnesty Programme Students Bag First Class as Varsity Graduates 119 Blessing Ibunge in PortHarcourt Students under the scholarship of Presidential Amnesty Programme (PAP), top the list of first class graduands as Ritman University, Ikot Ekpene, Akwa Ibom State, graduates 119 students. One of the ex-agitators, Bassey Emmanuel, emerged the overall best student of the University, with a CGPA of 4.81 in a maximum scale of 5.00.

Other PAP students, who graduated with a first class are: Akudike Ifeanyi Stephen; Obaila Christiana Church-Ere; Avura Blessing Elozino and Baloga Livinus Baridupopnen, while 43 others graduated with a Second Class Upper. Bassey, who graduated from the Department of Computer Science and Mathematics was the valedictorian during the Institution’s 2019/2020 convocation

ceremony. In his valedictory speech, Bassey attributed his academic achievements to hard work and dedication. He said the privilege extended to him by PAP to attend the institution motivated him to be at his best throughout the programme. He thanked the Interim Administrator of the PAP, Col. Milland Dixon Dikio (rtd) for

the scholarship and promised to be a worthy ambassador of the programme. He encouraged other beneficiaries of PAP scholarship to make best use of the opportunity. In his remarks, Dikio who was represented by his Special Adviser on Projects, Godwin Ekpo, congratulated the graduating students for their academic feat and urged them to continue to be shinning examples in the society.

FCCPC: We’ve Credible Evidence on Illicit Money Lenders, Collaborators

DikeOnwuamaeze

The Executive Vice Chairman and Chief Executive Officer (CEO) of Federal Competition and Consumer Protection Commission (FCCPC), Mr. Babatunde Irukera, has said that the commission has amassed credible evidence during its sting operations on alleged illegal digital money lenders in Lagos State on March 11, which has led additional information on the locations of other digital money

lending operations going on in different parts of Nigeria. Irukera disclosed this in a statement dated April 4, which said that the FCCPC has discovered that “at least one of the money lenders had corruptly secured a public official as an asset to assist with providing critical and sensitive internal confidential information about the investigation; as well as engage in other measures to frustrate the investigation. “The conspirators who all

participated have provided useful information and other evidence under caution and with legal advice.” The commission, according to him, “is in custody of credible evidence of the planning, discussions, meetings, execution (including tangible evidence of inducement), and participants in this criminal enterprise.” Shedding light on the breakthroughs so far recorded by the commission in its bid to hold the alleged illicit digital money lenders

accountable, the CEO of the FCCPC said that the commission is currently in possession of additional “information about staffing and recruiting policies and strategies” of the lenders that in some cases revealed “complex web of ownership or corporate relationships with mostly foreign/ offshore companies and promoters,” including “recognised, and unknown payments systems, sources of operational capital, and methods of repatriating business proceeds.”

WEDNESDAY APRIL 6, 2022 • T H I S D AY

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Moses Simon Nominated for 2022 Marc Vivien Foe Award

Duro Ikhazuagbe

Nigerian international, Moses Simon, was on Tuesday nominated for the Marc Vivien Foe Award 2022 in the French Ligue 1. The prestigious award instituted in memory of the fallen Cameroonian player is awarded to the most outstanding African player in the topflight French Ligue 1. Foe died in active service in 2003 aged 28 years. The Nantes forward who has remained pivotal for club and country this term will be hoping to emulate such compatriots as Vincent Enyeama who won the award in 2014 and Victor Osimhen, a 2020 recipient of the award. Interestingly, both players won the award wearing the colours of Lille. Congolese Gael Kakuta is the last recipient of the award as he was honored with the 2021 edition.

Aside Simon, 11 other African players in the Ligue 1 are also in the fray for the top award. Those in the running include; Abdelhamid Yunis (Reims/Morocco), Aguerd Nayef (Rennes/Morocco), Bayo Mohammed (Clermont Foot/ Guinea), Boufal Soufiane (Angers/ Morocco), Fofana Seko (Lens/Ivory Coast), Idrissa Gana Gueye (Paris Saint-Germain/Senegal). Others are; Achraf Hakimi (Paris Saint- Germain/Morocco), Khazri Wahbi (Saint Ettiene/Tunisia), Lemina Mario Nice/Gabon), Toko- Ekambi Karl (Lyon/ Cameroon) and Traore Hamari ( Rennes/Mali). The Marc Vivien Foe Award is organised by Radio France International (RFI) and France 24, who will announced the 2022 edition winner on May, 16 2022. The winner is adjudged through votes cast by the members of the award jury.

New Super Eagles Head Coach to Emerge Next Week After enduring the bitter side of Nigerian football fans following the inability of the Super Eagles to qualify for the World Cup in Qatar, the Nigeria Football Federation (NFF), has mandated its Technical and Development Sub-Committee to within the next five days recommend to the board names of gaffers for the senior national team. This decision, is one of many moves, aimed at repositioning Nigerian football, in the communique issued after the federation’s Executive Committee in Abuja, yesterday. The naming of new gaffers is to also extend to CHAN Eagles, the Under-20 (Flying Eagles) and the Under-17 Boys ((Golden Eaglets . Qualifiers for the 2023 AFCON

Former FIFA Referee, Okubule, is Dead

One of Nigeria’s celebrated former referee, Festus Bolaji Okubule, has died. His death in a Lagos hospital took place at about 5.50pm yesterday. The death occurred after he took ill shortly after his 80th birthday which was quietly marked at his Lagos home on 14 March. He was the second Nigerian referee to officiate at the Africa Cup of Nations in Egypt, 1986 after the pioneering effort of Sunny Woghiren at the 1974 edition which was also held in Egypt. Okubule, popularly called ‘Show Boy’ for his dramatic demonstration of actions that led to his calls and whistling, refereed the Senegal 2-0 defeat of Mozambique at the 10 March 1986 Africa Cup of Nations duel at the Cairo International Stadium. But his first international match was at the World Military Schools’ Competition in Kuwait in 1978, five years after he became an international referee. He got his FIFA badge in 1974. In 1983, Okubule became the first Nigerian referee at a FIFA tournament when he was picked for the FIFA Youth Championship (now FIFA U-20 World Cup) in Mexico.

in Côte d’Ivoire are starting in barely two months even as at no coaches for the Super Eagles. Eguavoen and his assistants including Alloy Agu, Emmanuel Amuneke, Joseph Yobo, Paul Aigbogun, etc were blown away after Eagles lost out on away goal rule to Ghana and missed the cut for the trip to the World Cup in Doha. The deadline for the submission will either be on Sunday or Tuesday next week depending on whether the five days cover all days of the week or just the working days.

Moses Simon...nominated for Marc Vivien Foe Award

De Bruyne Fires City Advantage at Tiger Woods Returns to Masters Etihad, Liverpool in Cruise Control 14 Months after Auto Crash Kevin de Bruyne's second-half goal gave Manchester City 1-0 victory as they overcame Atletico Madrid's typically fierce resistance in their Champions League quarter-final first leg at Etihad Stadium. Diego Simeone's side performed with their trademark defensive discipline, restricting City to very few opportunities until De Bruyne pounced to make the breakthrough with 20 minutes left. Phil Foden, on as a substitute, produced the moment of magic to unlock Atletico with a perfect pass through the legs of Reinildo for De Bruyne to slot past

C H A M P I O N S L E AG U E goalkeeper Jan Oblak. It was the decisive moment in the tightest of games but City manager Pep Guardiola's wild celebration illustrated just how much it means to take a lead, even if slender, to Madrid for the second leg on 13 April. Elsewhere, Liverpool will take a two-goal lead into the Champions League quarter-final second leg at Anfield but Jurgen Klopp says his side are "not in dreamland" after an important 3-1 victory over Benfica in Lisbon. Luis Diaz scored late on to

put Klopp's side in control of the encounter but they could have been out of sight were it not for a number of fine saves from Benfica goalkeeper Odysseas Vlachodimos.

RESULTS Benfica 1-3 Liverpool Man City 1-0 Atletico

TODAY @8pm

Tiger Woods insisted yesterday that he can win the Masters this week, 14 months after shattering his leg in a car crash that nearly killed him, as he ended the frenzied speculation and confirmed that he will make his comeback at Augusta. It was unthinkable only a matter of days ago that Woods would compete in the first major of the year, having been out of action for so long with perhaps the most serious even of his long list of injuries. His right leg was nearly amputated after the crash in Los Angeles last February. Yet he has been on site at

the home of the Masters since Sunday, following a recce with his son Charlie last week, practising on the course without ever confirming his intention to play in the tournament, which starts on Thursday. And now, at last, he confirmed the news the golfing world - and the wider world - had been waiting for. “It is great to be back and to be able to feel the energy and the excitement again. Hopefully we are going to have a great week,” he said to open his press conference at Augusta on Tuesday.

Chelsea v R’Madrid Villarreal v B’Munich

Ancelotti to Miss Madrid’s Clash with Chelsea Tonight Carlo Ancelotti did not travel to London with the rest of the Real Madrid players and staff yesterday, ahead of their Champions League quarter-final first leg clash with Chelsea tonight. Ancelotti tested positive for coronavirus last week, which forced him to watch Los Blancos beat Celta Vigo 2-1 on Saturday from home. Real had hoped that Ancelotti would have returned to the touchline to face his former

club at Stamford Bridge, but his involvement in the fixture is in doubt. According to Spanish radio station OndaCero, the Italian has not yet flown to London and will instead take another PCR test on Wednesday morning in the hope of being cleared to travel before that evening's kick off. It has not been revealed if Ancelotti is suffering from any symptoms with son and assistant manager Davide primed to step

into the hot seat if he is unable to make the game. Real completed a dramatic comeback in the second half of the second leg of their last-16 clash with Paris Saint-Germain to book a quarter-final meeting with Chelsea, and they look in good shape ahead of the tie. Eden Hazard and Luka Jovic – who have been bit-part players at Santiago Bernabeu this season anyway – are Los Blancos' only notable absentees.

Tiger Woods...aiming to win the Masters at Augusta

Wednesday, April 6, 2022

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& RE A SO

Price: N250

MISSILE Femi Adesina to Terrorists

“Haters of God and humanity struck on Monday, bombing the Abuja-Kaduna train. They then proceeded to open ﬁre on passengers… it was premeditated murder from the very bottom of hell. They abhor any form of progress or development. They prefer to live in the Stone Age, out there in the wild, visiting sorrow, tears, and blood on humanity” ---Special Adviser to the President on Media and Publicity, Femi Adesina, condemning the murderous terrorists.

KAYODEKOMOLAFE Time to Identify Aspirants with Ideas A THE HORIZON

bout 11 months to elections, it is not too early to expect that by now those who aspire to be Nigeria’s president should be identified with their passion for some ideas. With the announcement of the electoral time-table, the issues of the elections ought to be crystalizing by now. Elsewhere, political debates of issues in the build-up towards party primaries could be as vigorous as the debates among candidates. What is dominating discussions now in Nigeria, however, is the regional or ethnic origins and the religious affiliations of the aspirants seeking to fly their respective party flags. The current debates are about which region or zone should “produce” the candidates for the presidential election. Well, the Independent National Electoral Commission (INEC) cannot do more than officially setting the time-table. Unofficially, beyond the political parties democratic forces should push to the fore the issues of the elections to be addressed by politicians as aspirants. These issues would be more vigorously addressed later by candidates flying the party flags. The latter task is beyond the remit of INEC’s Chairman Professor Mahmoud Yakubu and his colleagues. That is why other unofficial institutions of democracy should pay attention to it. For a nation grappling with a multi-dimensional crisis the content of politics should be fuller than what is currently on display. There are legion issues of the election beyond zoning of political offices which are not getting the required attention. As concomitants with the big names on parade, big ideas should be contending in the public sphere to resolve the big issues plaguing this land. Aspirants should not only be identified as northerners or southerners; they should also be identified as being in favour of greater kinetic approach to insecurity or in support of negotiation with terrorists or both approaches. For clarity, the legitimacy of the present geo-political calculations is never in doubt. The reality of the challenges of nation-building has made the jostling for the Number One position by politicians from the various zones unavoidable in the circumstance. Such calculations have become a necessary subjective factor of national integration. It would, therefore, be sheer idealism to ignore the regional, zonal, ethnic, and religious considerations in the political evolution of Nigeria. The universal logic of diversity supports it. However, the task for now and in the future is how to wean the polity off a narrow view of things and largely empty permutations of the ruling class. Besides, the constituency of members of the political elite who could honestly claim to speak for Nigeria (and not regions or ethnic groups) is depressingly shrinking fast. At the other polar end, the political calculus of ethnicity and regionalism is increasingly being embraced by the majority of members of the political elite to fill the vacuum created their lack of rigorous ideas for development. Such is the nature of the dominant politics in the country. It is amazing that the political elite seems oblivious of the limitation of this sort of politics in the context of the developmental needs of the overwhelming majority of the people. Yet, among other things it would take the factor a formidable popular-democratic force of Nigerian nationalists, who are politically relevant, to render regionalism and ethnicity irrelevant in elections. Unfortunately, that may not happen soon. But it is a possibility. On the issue of national integration, the political elite is hardly consistent. Those who professed the primacy of “zoning” in the 2015 elections are today preaching “meritocracy.” It is even more problematic when ethnic and regional champions canvass “national interest” and “merit” when their opposite numbers in other zones insist on “power rotation.” More fundamentally is the question: of what material significance is the “power rotation” to the poor people in each region or zone? Since 1999, there has been no evidence that the material condition of the majority of the people in the zone that “produced” a president has improved relative to the condition of the people of the zones “marginalised” by the dynamics of “power rotation.”

kayode.komolafe@thisdaylive.com

INEC Chairman Prof Mahmoud Yakubu Whose power is it, anyway? Definitely it is not people power. The crisis of governance ravaging the land is not in the least mitigated by “power rotation.” The condition of public education and healthcare delivery cannot be said to have improved in any zone or region better than the other because of “power rotation.” Yet the politicians invoke the name of the people as they insist on “power rotation.” In other words, they substitute their class interests for the basic interests of the people. Out of false consciousness, some of the people line up behind the gladiators in their battle for “power rotation.” If “power rotation” is actually in the interest of the people in a zone, the northwest zone ought to be the most secure and prosperous zone and Katsina state,

0805 500 1974

the home state of President Muhammadu Buhari, ought to be the safest and most developed state. But is well known that this is not the case today just as the Obasanjo presidency did not put Ogun state on the top of the development league and the Jonathan presidency never transformed Bayelsa state. That is not to talk of the zones that “produced” these presidents. Those who bang the table on the “equity and justice of power rotation,” do not talk about the socio-economic injustice inflicted daily on the poor people in all zones and regions and of all faiths. Perhaps, part of the explanations for why things have remained the way they are in the last 23 years of Nigeria’s experiment with liberal democracy is that the last six presidential elections and most of the governorship elections were hardly fought on issues. Politicians aspired to positions largely because it was the turn of their zones. They got party tickets and as candidates they were mostly not associated with any concept of how to solve the problems of underdevelopment in a wholistic manner. The needed concept is deeper than the management of random and incongruous projects. At the root of this malaise is the fact that political parties are not defined by the strategies of development on the basis of which they could mobilise the people. If a political party has an ideology informing its programmes and policies, any aspirant wishing to be its candidate in an election must first subscribe to that guiding ideology. The manifesto of a candidate must be in synchrony with the ideology of the party. Otherwise, a candidate has no business seeking the party ticket in the first place. That is why it is unhelpful to the nation’s political development that that the big and small parties alike have not been holding policy conferences in which members would debate the ideologies of their parties. Conventions are only held to choose party officers and then to nominate candidates for elections.

With the politics of ideas, debates would be better structured because the issues to be tackled would be clearly identified. There will also be greater harmony in the political process. For instance, if some aspirants share the same passion about certain ideas to solve economic problems it would be more logical for one to step down for the other during contest than to invoke zonal or regional reasons. The propinquity of ideas about development is a more rational thing to give as a reason than geo-political concession during primaries. At the party level it is also explicable for parties to form electoral alliances on the basis of ideological proximity. This would be a marked departure from the shenanigans of “a coalition of parties” endorsing a candidate at the eve of elections without giving solid reasons. For example, if some parties have basically neo-liberal strategies on the economy, it would be justifiable for them to join forces to fight elections on the basis of policy harmonisation. At the opposite end, social democratic parties could also forge a basis for electoral cooperation because of similar programmes. Politicians involved in the efforts to coalesce for elections would be pushing some ideas and not just hankering for posts. During the Second Republic, the victorious Shehu Shagari’s National Party of Nigeria (NPN) called for the formation of a national government. Obafemi Awolowo’s Unity Party of Nigeria (UPN) gave as a condition for participation the adoption of its programme on education, healthcare, job creation and rural development. This was, of course, not acceptable to the ruling party. But it showed that there was once principle in Nigeria’s politics. It is time the issues of the 2023 elections were clearly defined. Beyond their ethnic or regional origins , aspirants and candidates should articulate their ideas to solve the problems.

We Can Be Reconciled By Pat Utomi

nce in a while providence provides us the privilege of convergence when the Christian season of reconciliation and the the Ramadan overlap. This year it comes as the country roils from much that has gone wrong. The smell of death chokes our breathing and the pangs of hunger and scourge of unemployment assails our dignity, as we write. These terrible symptoms of our season of discontent all come because we choose lack of charity towards each other over love which both the Abrahamic faiths profess. And the season of Lent, as Ramadan, are tailor made for us to realize we can be reconciled one to the other. Ramadan Kareem. My own shortcomings and misdeeds which scream for mercy make the story of the prodigal son one my favorite in quest for renewal and that of the Good Samaritan which reminds me that my neighbor need not live next door are eternally valuable in my search for meaning. My challenge has been how to take this from personal to community and political levels. How can we be reconciled, rebuild trust and find common purpose for our country that elevates the common good of all and holds high, values like the dignity of the human person, and the benefits of human solidarity. The Roman Pontiff, Francis, has recently reminded us all of the universal brotherhood of man. In Fratelli Tutti our shared humanity is fired up by the Pope’s heart of love which I find quite in alignment with that which I have read in the urgings to leaders by the founders of the Sokoto Caliphate. Some of these exhortations by Shehu Uthman Dan Fodio, Sultan Bello and others are nicely compiled in a book I received as a gift from their successor and current Sultan of Sokoto six years ago..

We are unable today to fly like the Eagle we were meant to be, as a country, or reach peak performance in areas we should be exemplars because cooperation is pushed back by matters of tribe, tongue, geography and faith. But if we be reconciled we can together break the yoke of backwardness and liberate our people from the crimes of hate which make death so menacingly a part of living in Nigeria in these times. Surely we can learn from our peers of yesteryears who found the great escape from misery by focusing on a few key values, In Singapore, a simple acronym captured it: MPH. Merit. Pragmatism. Honesty. If we care to explore we will see how all of these are grossly absent or inadequate in Nigeria today. In this age of the aristocracy of talent, in which Meritocracy shaped the modern world, as Adrian Woldrigde puts it in his recent book on the history of competence triumphing over the luck of the sperm source or other parochial consideration. Our recent history with complaints about violations of the federal character principles, and fairness being breached, provides a terrain to seek reconciliation. A few simple choices signal needed beginnings. With a little steer of conscience and courage much hurt feelings can start a journey to being assuaged. The many things that have drawn goal displacement in public service have come partly from uncertainty creeping into the consideration of the future of public officers this day’s sea of nepotism. The impact of this on policy implementation is huge and unwholesome. The lack of inclusion robs choice of the robustness of diversity of input. A big mix of pragmatism and creativity is needed to lead through the turbulence of problems that assault us in these troubled times. But unfounded mutual suspicions make us distrust local talent and turn to less suitable sources of knowledge for solutions to nuanced local

problems as the multilaterals in Washington. My frequent turning to how Dr Mahathir Mohammed got Malaysia to be first out of the Asian financial crisis of 1997 by rejecting I MF prescription in preference for ideas of local talent. Then there is honesty. Plain simple old fashioned integrity. We have so devalued honesty that the most egregious display of lack of character and dishonesty is explained away by ‘na politics naa’ Where politics is considered synonymous with dishonesty culture is on the verge of collapse. Unfortunately this is where we are but the truth is often scorned. Just check the results and if you are a true patriot the truth will speak to you. We can be reconciled to one another. Our underperformance cannot be because this is the way we are. Consider how Nigerians are performing in merit based societies. If 70 percent of the black Doctors in the US are Nigerians and 4 percent of Nigerians there are PhD compared to 1 percent for total population it should indicate that we are an achieving society. It must be that factors in our environment impede achievement. We desperately need leaders who know that though tribe and tongue may differ, in brotherhood we stand. We need a call to all to recall the essence of our African humanism. Ubuntu. I am because we are. Somehow our politicians put having over being and consumption over production and this has caused us so much grief. If our reconciliation in this season of penitence leads to the simple life and more emphasis on being rather than having we may find that we end up having more than we actually care for. May God”s anger not be prolonged as the Prophet Joel interceded so that his mercy may rain upon us and Nigeria rise up again. *Patrick Okedinachi Utomi is a Political Economist and Citizen-politician

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