MONDAY 25TH APRIL 2022 by THISDAY Newspapers Ltd

Sanwo-Olu: Lagos Rail System to Commence Operation First Quarter 2023 Blue line project at 90% completion rate Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday, inspected the on-going construction of the Lagos Rail Line project and said the first quarter 2023 target for

commencement of operational service was sacrosanct. SanwoOlu said the state was on track with its effort to complete work on both the Blue and Red lines rail projects, which are intra-city, to strengthen the intermodal

Laments vandalism of rail equipment

transportation system. Speaking at the Marina Station of the system after the inspection, Sanwo-Olu expressed satisfaction with the level of construction so far, saying additional trains are to be procured for speedy

commencement. The governor, however, warned those that had started vandalising the barricades around rail line to desist from the act, saying the tracks are hazardous. He added that, unlike the Red Line along

Ikeja, Alagbado to Marina axis, the Blue Line from Marina to Mile 2 would be electric and people, including passengers, were not expected to walk on the tracks. He said work on the Blue Line rail project was at 90 per cent

completion, as contractors were working seven days a week so that Lagosians could start using the train by the first quarter of 2023. Sanwo-Olu inspected the Blue Continued on page 5

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2023: Aisha Buhari Advises Presidential Aspirants to Pick Women as Running Mates... Page 52

NEF: We’re Not Involved in PDP Consensus Arrangement Tambuwal: Tell us who the elders are, ...we made it clear that consensus candidate is not feasible Saraki: It’s a welcome development, painstaking efforts Mohammed commends IBB, says recommendation not an imposition Chuks Okocha, Adedayo Akinwale in Abuja and Segun Awofadeji in Bauch The ripples generated by the

consensus report of some northern elders, which endorsed former Senate President, Dr. Bukola Saraki, and the Bauchi State governor as the preferred Peoples Democratic

Party (PDP) northern presidential candidates, assumed another dimension yesterday after the Northern Elders’ Forum (NEF), umbrella body for the northern

establishment, dissociated itself from the initiative with an effort to correct certain misgivings. This is as some of those concerned have also continued to state their

own accounts of what happened, while the others, defended and justified the report, authored by Professor Ango Abdullahi. While, the governor of Sokoto

State, Aminu Waziri Tambuwal, who had maintained a rebellious stance since inception, queried who Continued on page 5

Oil Theft: Navy Seizes 6 Million Litres of Stolen Crude from Illegal Reﬁners Buhari mourns over 100 persons killed in Imo explosion, says it’s national disaster Insists those responsible must be brought to justice Directs security agencies to clamp down on oil theft Deji Elumoye, Emmanuel Addeh and Kingsley Nwezeh in Abuja IIn furtherance of Operation Dakatar Da Barawo (OPDDB) that was launched to checkmate crude oil theft and related acts of economic sabotage, the Nigerian Navy said it seized 6, 000, 000 litres of stolen crude oil estimated at N264 billion. This is just as President Muhammadu Buhari yesterday expressed “shock and trauma” about the death of over 100 people in an explosion at an illegal oil refinery in Imo State. However, there were no report of seized barges and motherships by the Navy, unfortunately, that is where most of the theft occur because these are the means by which stolen crude oil are being transported to international market and sold at far below the market price. And sadly this is occurring right under the nose of the security agencies Continued on page 5

KEYAMO BIDS DAD FINAL FAREWELL... L-R: Deputy Senate President, Senator Ovie Omo-Agege; Delta State Governor, Senator Ifeanyi Okowa; Vice President Yemi Osinbajo and the Chief Host and Minister of State for Labour, Festus Keyamo, during the burial of his father, Pa Matthias Keyamo at Eﬀurun in Delta State...Saturday

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Report Links Rising Insecurity, Terrorism to Frustration, Economic Marginalisation of Youths Obinna Chima The Financial Derivatives Company Limited (FDC) has attributed the rising level of rising insecurity and terrorism in Nigeria to the feeling of frustration, economic marginalisation and alienation by the country’s teeming youth population. The Lagos-based research and investment company stated this in its latest bi-monthly economic report obtained at the weekend. In the past few days, there have been increasing attacks from different terrorist groups across the country, with several lives lost, injured and many still unaccounted for. From the attempted attack on

the Kaduna airport, the attack on a Kaduna-bound train, attack on security personnel and formations, as well other nefarious activities by terrorist groups. However, the report pointed out that in the past decade, an estimated 87,903 people had died through Boko Haram, state actors, sectarian actors and other armed bandits in the country. According to the firm headed by Bismarck Rewane, a member of President Muhammadu Buhari’s Economic Advisory Council, Nigeria, like most developing countries, was experiencing youth bulge. In demographic studies, youth bulge refers to a demographic

trend characterised by large share of youth and children population. This age cohort pattern is usually experienced when countries succeed in reducing infant mortality while keeping fertility rate high. “For example, Nigeria is currently experiencing its youth bulge while most European countries are currently characterized by ageing population. Nigerian Population Pyramid rise and economic inequality will fall. It is a golden era for any economy. “The harvest of opportunities that youth bulge offers will depend on how it is harnessed. For example, South Korea and now China exploited the golden opportunity.

“They understood the era and moved by initiating policies that helped to harness the youth potential. First, they created environment within which small businesses could flourish. China rigorously pursued programs that helped its 269 million youth population in assessing resources and running small businesses,” it stated. According to the report, Nigeria with nearly half of the youth labour force been unemployed based on National Bureau of Statistics 2020 survey, the unemployment rates for persons between age of 15 and 24 years and 25 and 34 years were estimated at 53.4 per cent and 37.2

per cent respectively. In addition, about 21 per cent of persons who are between the ages of 15 and 34 years were estimated to be underemployed. “Empirical research suggests that there is strong correlation between poorly managed youth bulge and armed conflicts. When youth population rises, as in the case of Nigeria, the youth age cohort could feel marginalised if they are not gainfully employed. The feeling of economic marginalisation by the cohort has been associated with rising insecurity in the Sahel and Middle East. “In Nigeria, rising insecurity and terrorism could be associated with

the feeling of frustration, economic marginalisation, and alienation by the teeming youth population. In the past decade, estimated 87,903 people have died through Boko haram, state actors, sectarian actors and other armed bandits and terrorists. “The increasing population of Nigerian youths that are into terrorism today confirms Dabbs view that cost of recruitment into armed criminal groups is low in the era of youth bulge. More so, rising insecurity represents a huge opportunity cost for the economy. It distracts policy makers and economic managers from focusing on growing the economy to focusing on fighting insecurity.

The forum stated that, it has also remained consistent in its conviction that all parts of the country should play their parts freely, unhindered by restrictions, which offend principles of inclusion and fairness, adding that, the North has excellent candidates whose fate should be left to party delegates and voters to decide. It further maintained that it remained united behind the protection and projection of interests of the North and Nigeria, and would play its role as it has always done whenever the circumstances demanded.

Tambuwal, speaking with newsmen, queried the report saying, "Tell us who are the elders that sat down to come up with that decision? Who are the people that gave advice to reach that conclusion? Nobody has this information. "I consulted the party leadership across the country especially, the Northern PDP leaders but no one is aware what's going on, indicating that something fishy is going on. If not, we are the ones that took ourselves to them to help the process, and later withdrew, why should anyone insist the process of consensus must

continue? "So, based on this, I didn't go to Minna, and the decision that the two people are the Northern consensus candidate doesn't in anyway reflect my wish, and should therefore not worry my supporters. I am not involved in any of such. I am still in the race, I am seeking victory from GOD and in his mercy, God will give me," he stated. Continuing, he said, "We discussed the possibility of agreeing on one candidate within our group to represent us (Initially not even to represent the whole North) and we all agreed based on the situation of the party. “We started consultations based on that, and the fourth person that joined us is also another presidential aspirant Mohammad Hayatou-deen. In order for people not to perceive that may be we are trying to fight the candidacy of Alhaji Atiku Abubakar, we also went to consult him and seek his blessings. "He was happy about it but he didn't show any interest to join us. That was how we continued our consultations. Along the line, we discussed that we really need an elder in the country, who will help us reach our goal amicably in case we may encounter any disagreement along the line within ourselves and we all agreed that we should take the matter to former president Ibrahim Badamasi Babangida in Minna. "We explained to him and he immediately agreed. He was very happy. And he promised to do his best to help us achieve our mission. However, we had to at a point tell ourselves the truth. The four of us met in Bauchi State government diplomatic House in Abuja on Wednesday, we looked into the issue from all angles and we made it clear that consensus candidate is not feasible and we cannot continue the process, everyone should embark on independent struggle, and whosoever GOD gives the ticket to, its ok. "We agreed that senator Bukola Saraki will organise a press conference and inform the public about the outcome. Without consulting us, Bukola Saraki on his own sent us message that we need to go to Minna and see Babangida after all that wasn't part of what we agreed upon in our meeting. I communicated with Governor of Bauchi Bala Mohammed whether he received same message which he did. "We went and met Bukola Saraki. But at that point, I made it

NEF: WE’RE NOT INVOLVED IN PDP CONSENSUS ARRANGEMENT the northern elders commissioned General Ibrahim Babangida were, Saraki, on his part, commended the report, stating it was a thorough and painstaking efforts that ought to be commended by all. Mohammed too commended the former military president and explained that the report was not an imposition. On the contrary, a group known as the United Arewa Youth For Justice and Development, has thrown its weight behind the decision of the northern elders over the endorsement of Mohammed and Saraki as northern

presidential consensus candidates of the PDP ahead of the 2023, presidential primaries of the party. However, NEF, in a statement by its Director of Publicity and Advocacy, Dr. Hakeem Baba-Ahmed, said the forum was not involved in the process as a body, it further insisted it was not affiliated to any political party or aspirant as it were, adding that the idea to engineer a consensus among the aspirants was that of the aspirants themselves. "It is important to make clear that the entire process did not involve the Northern Elders Forum as a

group, and is not a product of the group. It has become necessary to address the impression created in part by mischief, and in part by genuine confusion over the role of the Convener of Northern Elders Forum, in the efforts to create consensus among four aspirants for the Presidential ticket of the PDP. "Northern Elders Forum is not affiliated to any political party or aspirant, and is strongly committed to the creation of a level playing field, which will allow the emergence of the best leaders in the 2023 elections," it said.

OIL THEFT: NAVY SEIZES 6 MILLION LITRES OF STOLEN CRUDE FROM ILLEGAL REFINERS some of who the government has acknowledged collude with the the criminals to shortchange the country. Following the alarming increase of crude oil theft, the president had directed the Minister of State, Petroleum Resources, Mr. Timipre Sylva, the Group Managing Director of the Nigerian National Petroleum Company (NNPC), Mallam Mele Kyari as well as the Chief of Defence Staff, Gen. Lucky Irabor, to ensure that the criminal activity was brought to a halt. Buhari’s directive had followed public outrage against the massive stealing of Nigeria’s crude oil, which had hobbled the country’s ability to meet the quota allocated by the Organisation of Petroleum Exporting Countries (OPEC). Owing to the directive, the naval troops disclosed that they recorded more arrests and seizures between April 15th and 23rd, 2022, being the third week of the operation. A statement issued by Naval Headquarters stated that the Nigerian Navy Ship (NNS) DELTA in Warri, deactivated an Illegal Refining Site (IRS) around Sara creek. The IRS had 16 ovens, 16 metal storage tanks and three wide pits filled with about 500,000 litres of illegally refined AGO, as well as 700,000 litres of stolen crude oil, a generator and 4 pumping machines. Also, the statement revealed that an IRS at Asugbo creek in Warri was discovered with six ovens, 12 metal storage tanks and five large pits all containing about 600,000 litres of stolen crude oil including 200,000 litres of illegally refined AGO and about 150,000 litres of sludge. Similarly, sequel to series of air reconnaissance, Forward Operating Base (FOB) FORMOSO in Bayelsa State on April 19, 2022, raided an IRS at Ereweibio creek in Brass LGA. Accordingly, seven large cooking ovens, 10 large metal storage tanks and drums all laden with about 400,000 litres of illegally refined

AGO and 20,000 litres of suspected illegally refined PMS were discovered. The site also had five large pits holding approximately 700,000 litres of stolen crude oil. Equally, two pumping machines, one gasoline generator, one submersible pump and one chainsaw machine were discovered at the site and destroyed in situ. According to the statement, on April 21, 2022, an IRS at Lelemu creek in Warri South-West was discovered. During the operation, 19 ovens, 26 metal storage tanks and two dugout pits laden with about 250,000 litres of suspected stolen crude oil and 50,000 litres of illegally refined AGO were destroyed. To ensure effective deactivation of IRS, NNS DELTA on 21 April 2022 conducted swamp buggy operations during which an earlier identified IRS around Egwa creek in Warri was destroyed. During the operation, 16 ovens, 31 metal storage tanks and seven large pits all filled with about 850,000 litres of stolen crude oil were equally deactivated. Relatedly, on 22 April 2022, around Lelemu creek in Warri South West LGA of Delta State, personnel under NNS DELTA again discovered 22 IRS ovens, 12 metallic storage tanks and 5 large pits all containing about 150,000 litres of stolen crude oil. "At another IRS off Lelemu creek, 19 ovens, 42 storage tanks and 14 large pits containing about 300,000 litres of stolen crude oil, as well as approximately 200,000 litres of illegally refined AGO, 100,000 litres of illegally refined DPK and 100,000 litres of suspected crude oil sludge were all destroyed," it added. In a related development, NNS LUGARD at Kogi State in the course of OPDDB discovered an IRS on 22 April 2022, at a location off AkiliOzizor community of Ogbaru LGA, Anambra State. During the operation, four locally

fabricated ovens, seven metal storage tanks, four large pits of which two were for storage of about 48,000 litres of stolen crude oil were all destroyed. On the same day, NNS VICTORY in Calabar raided tanker garage along Harbour road in the city and seized a storage tank containing about 45,000 Litres of suspected illegally refined AGO. Also, a tanker laden with 33,000 Litres of suspected locally refined AGO was seized and the owner was arrested. Furthermore, about 58 drums of locally refined AGO were also seized. Additionally, NNS SOROH at Yenagoa, on Saturday 23 April 2022 intercepted a wooden boat at Otuokpot Area along Kolo creek. "The wooden boat was laden with 60,000Litres of illegally refined AGO together with over 100 sacks of same product. Items on the boat which included one pumping machine, one Yamaha 40HP outboard engine and one locally made boat Anchor with the products were destroyed at Ogbia waterside," it stated. The base also conducted a search on a Market Boat heading for St Nicolas Axis from Akassa area. About 2,500 litres of suspected illegally refined products stored in gallons and sacks were hidden inside the boat. Accordingly, same were evacuated for destruction. Likewise on the same day, personnel under NNS DELTA on patrol around Jones creek in Warri South West LGA raided an IRS and discovered 33 ovens, 42 metal storage tanks and seven wide pits all filled with about 1,200,000 litres of stolen crude oil, 250,000 litres of illegally refined AGO and about 100,000 litres of sludge. Furthermore, combing of the area off Jones creek led to the discovery of another IRS with five ovens, two metal storage tanks and eight large pits with about 150,000 litres of sludge. Both IRS off Jones creek with the discovered items and products

were destroyed in situ. The statement affirmed that over 6,000,000 litres of products valued over N3 billion from oil thieves and economic saboteurs. "The migration by operators of IRS from the South South geopolitical zone to the South East also come to the fore. "This development will in no way deter the Nigerian Navy from ensuring zero tolerance for COT, IRS, illegal bunkering and related economic crimes in the Nation’s maritime environment and adjoining territory", it said.

Buhari Mourns Over 100 Persons Killed in Imo Illegal Reﬁnery Explosion, Says It’s National Disaster Meanwhile, in a statement by his Senior Special Assistant, Media and Publicity, Mr. Garba Shehu, Buhari, who described the unfortunate incident that occurred in Ohaji/Egbema of Imo State as a, “catastrophe and a national disaster,” called on the security agencies to intensify their clampdown on oil theft. Many people were reportedly burnt beyond recognition by the explosion. It was learnt that the police were now looking for the owner of the unlawful refinery. Dozens of people were thought to have been working at the refining plants when they were caught in the huge fire. The death toll continued to rise as emergency workers went through the scene. Ifeanyi Nnaji of the National Emergency Management Agency (NEMA) told the British media organisation, BBC Igbo, that the number killed now stood at 109. “We learnt many bodies are in nearby bushes and forests as some illegal operators and their patrons scampered for safety,” Nnaji said. While offering his condolences to the families of the victims, the

president demanded that those responsible for the explosions must be caught and brought to justice. In the statement, titled, “Imo ‘Refinery’ Deaths, a National Disaster,” Buhari urged community leaders and the security personnel in the area to prevent a reoccurrence of such incidents. The statement said, “President Muhammadu Buhari has directed the nation’s armed forces, security and intelligence agencies to intensify the clampdown on illegal refineries following the reported deaths of tens of people Friday night after an illegal refinery exploded at Abaezi forest in the Ohaji-Egbema Local Government Area of Imo State. “Reacting to what he described as a catastrophe and a national disaster, Buhari said responsibility for the loss of lives and property must squarely lie with the sponsors of the illegal refinery, who must all be caught and made to face justice. “In conveying the condolences and the full depth and range of the nation’s shock and trauma to the families of the victims, the Ohaji/Egbema community and the government and people of Imo State, the president urged community leaders, the police, and the secret service to never allow the occurrence of the heart-breaking incident in any part of the country again.” The damage to fishing and farming in oil-rich communities caused by the oil industry over the decades has led some to find other ways to make money from the oil business. Illegal refining is attractive in some oil-producing communities, as it is seen as somewhat easy to manage, despite efforts to halt the practice. The authorities have been struggling to curb the proliferation of illegal plants where stolen crude oil is refined. The president ordered security forces to intensify efforts to shut these refineries.

Continued on page 52

SANWO-OLU: LAGOS RAIL SYSTEM TO COMMENCE OPERATION FIRST QUARTER 2023 line rail project alongside some of his cabinet members, top officials of Lagos Metropolitan Area Transport Authority (LAMATA), and contractors handling the project. They moved from the National Arts Theatre rail station on a construction track to Orile Iganmu, Alaba and Mile 2 stations to inspect the four train stations on the Blue line rail. The governor said the blue line rail would be running on electric tracks with Electric Motor Vehicle

(EMV) and warned citizens to keep off the train lines. He also inspected a new fourcoach train, which, according to him, was a typical train that will be used on the blue line. He disclosed the Lagos State government’s plan to bring additional two sets of four-train coaches from China between September and October, adding that adequate security would be put in place at every train

station and platform with the use of CCTV. Sanwo-Olu told his entourage, “This is the first time I am taking you on the blue line to see where we are. The first phase of the Blue line rail project starts from Mile 2 and terminates at Marina. Marina Station is an elevated station and it stretches out to outer Marina and terminates where the Governor's residence is. At the end of the station, you could see that the

track is broken into two bridges. The backtrack is for parking. “We are happy that the contractors are working seven days a week. The major aspect, apart from the Marina Station, is a sea crossing from Eko Bridge to join the outer Marina. They would finish it in about three months. And by the time we will be coming back in July, the concrete construction should have been completed.” Sanwo-Olu condemned the level

of vandalism along the rail corridors and warned perpetrators to desist from such evil acts. He said the government would go after companies that purchased vandalised rail track infrastructure, adding that culprits will be traced and made to face the wrath of the law. Meanwhile, Sanwo-Olu yesterday issued a three-day ultimatum to traders under the Apogbon Bridge on Lagos Island to vacate or

risk demolition of the space by Wednesday. He gave the warning while driving on the bridge during his inspection of the blue line rail project and observed that traders were back under the bridge with their goods displayed after they were driven away in the aftermath of a fire outbreak under the bridge about six weeks ago. The governor said enforcement agencies would be deployed to the bridge after the ultimatum.

T H I S D AY • MONDAY, APRIL 25, 2022

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

SEARCHING FOR DELEGATE... L-R: Former Governor of Niger State, Babangida Aliyu, Presidential Aspirant on the platform of the PDP, former Senate President, Dr. Abubakar Bukola Saraki, and Chairman of the PDP in Niger State, Tanko Beni,during Saraki’s meeting with PDP delegates in Niger State.

Lawan: Deeply Knowledgeable, Alaafin Was Custodian of Yoruba’s Culture, History He made huge impact across Nigeria, says Makinde His demise suspends Gbajabiamila’s chieftaincy installation

Udora Orizu in Abuja and Kemi Olaitan in Ibadan President of the Senate, Ahmad Lawan, yesterday, described the late Alaafin of Oyo, Oba Lamidi Adeyemi lll, as deeply knowledgeable and custodian of the Yoruba culture and history, adding that his passing was a great loss to the Yoruba people at home and in the diaspora, and to Nigeria as a nation. In the same vein, Oyo State Governor, Seyi Makinde, described the late monarch as an encyclopedia of Yoruba's traditional history, who had a solution to every problem. Sadly, however, one of the fallouts of the death of Alaafin is that the installation of the Speaker, House of Representatives, Hon. Femi Gbajabiamila, as the Aare Baasofin of Yorubaland (the Supreme Lawmaker of Yorubaland), has been automatically called off for now. Lawan, who condoled with the government and people of Oyo State and the entire Yoruba race over the loss of the Alaafin, whom he described as “a great African traditional ruler,” added that, "Oba Adeyemi regally represented the culture and tradition of the Yoruba people and the great history of Oyo Empire, one of the greatest in Africa, especially, south of the Sahara. "Oba Adeyemi, in his long reign, contributed greatly to the social and physical development of the old Western State, Oyo State and entire Nigeria, whether under military rule or in the burgeoning democracy. "He did this not just as a custodian of Yoruba history, but also as a deeply knowledgeable and wise traditional ruler. Oba Adeyemi, to his last day on the throne, attracted respect and reverence for the stool of Alaafin of Oyo due to the way he exhibited the dignity of the Institution. "His voice of wisdom shall be sorely missed by his subjects, fellow traditional rulers, governments and people across

the Nigerian polity. I commiserate with his family, the people of Oyo State, the entire Yoruba race and Nigerians in general on the loss of a great African traditional ruler and wish his soul sweet repose," Lawan said. Makinde, during his condolence visit to the family of the late monarch at the Aafin (Palace), Oyo, noted that though Oba Adeyemi lived long and reigned for 52 years, it was still painful that he had to go at this time. He added that the late monarch lived a life that had great impact on humanity, stating that hisimpact transcended the borders of Oyo State to all parts of the federation. The governor said the deaths

of three foremost traditional rulers, namely the Soun of Ogbomoso, Oba Jimoh Oyewunmi Ajagungbade; the Olubadan of Ibadanland, Oba Saliu Adetunji and now the Alaafin of Oyo, were ordained by God and that they all lived a life of impact and left significant marks that would bring progress to the state. "No matter how old the Alaafin was, we would not have wanted him to join his ancestors. When he ascended the throne of his forefathers, I was very young. But because of the way Kabiyesi was to us, we would have loved to have him with us forever if it was possible. For that, we are sad but we are also happy because

Kabiyesi lived long on the throne of his forefathers. "Secondly, since we heard about the news of his death, throughout yesterday, I received calls from the Presidency and a lot of my colleagues. Sultan of Sokoto and Emir of Kano have called me personally. “What this means is that Kabiyesi lived a fulfilled and impactful life not only in Oyo State but throughout the federation. That is why those who are mourning with us could also feel the impact. At this point that we are mourning the passage of Baba, they are also identifying with us. "In Oyo State, we have perhaps lost the last human encyclopedia

of our traditional history, because several times when I visited him and told him the kind of problem we had, he had solution to everything. So, it is a very difficult void to fill. In fact, I don't know, who else we can go and meet, who can replace Kabiyesi. "When I visited him in 2015 and told him about my ambition, he frankly told me it was not going to work out due to one reason or the other and, at last, I failed but I learnt certain things. Not many people will tell one the truth. Kabiyesi told me it would not work and it never worked out. "Having realised this, I got to understand again that in position of authority, not many people will

want to tell one the truth, and that lesson came from Kabiyesi. "For all of us in Oyo State, it is a difficult period and what we need more is prayers. All the good things Baba wished to come to pass, may God give us the wisdom to actualise them. And I want to promise everybody that, as a government, we will do everything possible to give him a befitting burial rite,” he said. The governor equally charged the Oyomesi, who were saddled with the responsibility of choosing the next Alaafin not to allow a vacuum for too long, noting that his government would ensure that the wishes of the late Alaafin come to pass.

Europe Gas Crisis: Ex-NLNG Boss Backs FG on Call for Increased Investment by Shell, TotalEnergies, Eni Says IOCs should delay their planned divestment from Nigeria Recalls how Germany rejected Nigeria’s gas in 1990 Peter Uzoho Following recent appeal by the European Union for Nigeria to increase its natural gas export to the continent, a former Managing Director of the Nigeria Liquefied Natural Gas (NLNG) Limited, Dr. Godswill Ihetu, has joined the federal government in the call for the EU to prevail on its oil majors operating in Nigeria to urgently ramp up their investments in the country's gas sector. Ihetu said the European oil and gas producing companies in Nigeria which include British oil major, Shell, and its French and Italian counterparts -TotalEnergies and Eni, respectively, must be pressured to invest more to enable Nigeria be able to produce more gas to meet the urgent need of the European countries. Speaking to THISDAY on the appeal by the EU, Ihetu also urged the international oil companies (IOCs) to delay their planned

divestment from Nigeria, citing the gas crisis in the EU nations and the need for the oil majors to assist Nigeria in getting more gas to their countries. Ihetu also recounted how Germany missed an opportunity to sign gas supply agreement with Nigeria in 1990, when Nigeria wanted to initiate gas sale with them but the European nation rejected it and settled for Russia, Algeria and Norway. In the past weeks, several delegations from Europe had visited Nigeria and sought more partnership with the country around energy supply as the cold war between Russia and Ukraine takes toll on Europe. They appealed to Nigeria to increase its natural gas supply to European nations now facing gas shortage, as the countries try to withdraw from using Russian gas as part of the sanctions against the Vladimir Putin-led country for invading Ukraine.

Speaking on behalf of the federal government, the Minister of State for Petroleum, Chief Timipre Sylva, who received a delegation led by the European Union Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Samuela Isopi and French Ambassador to Nigeria, Emmaunelle Blatmann, had urged Europe to increase investments in Nigeria's oil and gas sector to enable the country meet the EU energy demand. Sylva had assured them that Nigeria was ready to step in as an alternative gas supplier to Europe, but on the condition that the continent has to encourage its oil and gas producing companies such as Shell, Eni, Total Energies, among others to ramp up their investments in Nigeria's gas sector. Nigeria is the fourth gas supplier to Europe, with at least 40 per cent of the Nigerian LNG currently exported to Europe, Isopi was quoted to have told Sylva

during the meeting. Commenting on the development, the former NLNG henchman told THISDAY that it was interesting to see European nations seeking more gas supply from Nigeria. He remarked that the oil majors were not investing enough in Nigeria to increase the nation's oil and gas production owing to the divestment moves. Ihetu said reports had also shown that the three European oil giants, which are the shareholders of the NLNG had not been supplying the company with gas in recent times, leading to the company operating under capacity. According to him, the onus lies on EU to mount pressure on their oil companies operating in Nigeria to increase investments in gas exploration, drilling and production so that more gas would be produced and more volumes exported to them.

He said, "So, what I will say concerning the EU's request is that Europe should compel their companies in Nigeria to increase their investment in gas operations. Right now, we understand that European investors -Shell and co, are not investing enough in their Nigerian operations. They are talking of divestment. "This EU's request should be strengthened further by making sure that European oil and gas production companies invest more so that we would provide more gas at NLNG for export. "My understanding is that NLNG is currently producing or processing under-capacity because there is not enough gas coming in from the gas suppliers. The gas suppliers are Shell, Agip, TotalEnergies. "They are not supplying enough gas, which means they are not investing enough in the company. That divestment by EU companies is now showing.

MONDAY APRIL 25, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 25, 2022

NEWS

76TH ANNUAL GENERAL MEETING OF NIGERIAN BREWERIES... L-R: Non-Executive Director, Nigerian Breweries Plc (NB), Mr. Sijbe Hiemstra; Finance Director, Mr. Rob Kleinjan; Non-Executive Director, Mrs. Adeyinka Aroyewun; Managing Director, Mr. Hans Essaadi, and Chairman, Chief Kolawole Jamodu, during the 76th Annual General Meeting of the Company held in Lagos…recently

No Nigerian Listed as WEF Names 11 Africans among 42 Young Global Leaders Somalian, Algerian, Namibian, Egyptian, Ghanaians, S'Africans, Kenyans make list Ndubuisi Francis in Abuja Three Kenyans, three South Africans, two Ghanaians, an Algerian, Namibian and Somalian made the 2022 Young Global Leaders announced yesterday by the World Economic Forum (WEF). However, no Nigerian made the list as members of the WEF 2022 class were chosen from different categories, which included the Academia/Think-tank, Arts & Culture, Business, Public Figure, Social Entrepreneur and Civil Society. The two Ghanaians listed were in the Academia/Think-tank and Civil Society categories. They included James Kwame Mensah, Senior Lecturer, University of Ghana, and Françoise Moudouthe, Chief Executive Officer, African Women’s Development Fund, Ghana, respectively. In the Business category three Kenyans-- Dominic Wadongo, Group Head of Operational Risk, Equity Group Holdings Plc, Kenya and Eva Otieno, Principal, Africa Strategy, Standard Chartered Bank Kenya Ltd, Kenya. Also in that category were three South Africans, including Lesley Ndlovu, Chief Executive

Officer, African Risk Capacity “ARC” Ltd, South Africa; Zuriel Naiker, Managing Director, Sales and Distribution, Africa, Marsh & McLennan Companies, South Africa, and Esha Mansingh, Executive Vice-President, Corporate Affairs and Investor Relations, Imperial Logistics Limited, South Africa. Soraya Djermoun, Entrepreneur, Author, Geopolitical expert from Terza, Algeria also made the list. In the Civil Society category, Ilwad Elman, Chief Operating Officer, Elman Peace HRC, Somalia was also listed while Nasreen Ali Mohamed, Founder and Chief Executive Officer, Cherehani Africa, Kenya also made it in the Social Entrepreneur category. Arts & Culture cateory had another South African, Sumayya Vally, Founder and Principal, Counterspace, South Africa. The Public Figure category featured Sahar Albazar, Parliament Member & Deputy Chair of Foreign Affairs Committee, Egyptian Parliament, Egypt and James Mnyupe, Presidential Economic Adviser; Green Hydrogen Commissioner, Office of the President of Namibia, Namibia.

NIN-SIM: SERAP Sues Buhari over Failure to Unblock Phone Lines of 72m Subscribers Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over the failure to unblock the phone lines of over 72 million telecommunication subscribers barred from making calls on their SIMs. Joined in the suit as respondents were the Attorney General of the Federation and Minister of Justice, Abubakar Malami and Minister of Communication and Digital Economy, Isa Pantami. The suit followed the recent directive by the federal government to telecommunications companies to block outgoing calls on all unlinked lines, as the deadline for the verification expired on March 31. In the suit number FHC/L/ CS/711/2022 filed last week at the Federal High Court in Lagos, SERAP sought an order setting

aside the directive by President Buhari to telecommunications companies to block outgoing calls on all unlinked lines without due process of law, and for being inconsistent with the requirements of legality, necessity and proportionality. SERAP also sought an order of perpetual injunction restraining Buhari and Pantami from unlawfully directing telecommunications companies to block outgoing calls on all unlinked lines, without due process and in violation of Nigerians’ human rights. The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Opeyemi Owolabi, read in part: “While Nigerian authorities have a legal responsibility to protect, ensure and secure the rights to life and property, any such responsibility ought to be discharged in conformity with human rights standards.

In announcing this year’s Young Global Leaders, the promoters said the WEF class of 2022 was gender equal and has representatives from 42 countries, adding that members would take part in a three-year leadership development programme that would help them reach their next level of impact. The programme offers executive education courses, expeditions and

opportunities to collaborate and test ideas with a trusted network of peers. Head of the Forum of Young Global Leaders. Mariah Levin said: “The leaders celebrated today have demonstrated exceptional ingenuity and vision across their fields. While they represent diverse sectors, regions and issue areas, they are united in their commitment to lead towards a

more inclusive and sustainable world. “The World Economic Forum is delighted to welcome this year’s class of Young Global Leaders. Their commitment to improving the state of the world is crucial at a time where collaboration is needed more than ever,” said Nicole Schwab, Board Member of the Forum of Young Global Leaders

There are over 1,400 members of Young Global Leaders and alumni from more than 120 countries. Notable members include prime ministers Jacinda Ardern and Sanna Marin, President Carlos Alvarado Quesada of Costa Rica, entrepreneurs Iyinoluwa Aboyeji (Nigerian) and Rhea Mazumdar Singhal, peace activist Victor Ochen, and economist Esther Duflo.

WHO Recommends Vaccination of Under-5 Children against Malaria Onyebuchi Ezigbo in Abuja As part of strategies to reduce malaria disease burden especially in endemic communities in Africa, the World Health Organisation (WHO) has endorsed the use of vaccines to prevent the disease among children aged six months to five years. While highlighting the devastating impact of malaria scourge which was estimated to have risen to 228 million cases in Africa, with 602, 020 reported deaths, WHO expressed concern that the newly developed vaccine were of limited supply to countries that needed it. In its message to mark World Malaria Day 2022 WHO’s Regional

Director for Africa, Dr. Matshidiso Moeti, said there was an urgent need to scale up the use of vaccine against malaria. She said: "The past year has seen significant breakthroughs in malaria prevention and control, in spite of the COVID-19 pandemic. Landmark recommendations on the use of the first vaccine against malaria – RTS,S – were released by the WHO late last year. “This vaccine will be used to prevent malaria among children aged six months to five years, who live in moderate- to hightransmission settings." She said this year’s theme, “Harness innovation to reduce the malaria disease burden and save lives,” aligned with an earlier

call to urgently scale up innovation and the deployment of new tools in the fight against malaria, while advocating for equitable access to malaria prevention and treatment tools, within the context of building health system resilience. Moeti expressed worry that despite the groundbreaking advance in the development of new tools to fight malaria, with the potential to save millions of lives, supplies are currently limited. She therefore said that it was important to ensure that the vaccine doses that are available are utilised for maximum impact, while ensuring continued availability of other preventive measures to those most at risk.

According to the WHO Regional Director, malaria remained a significant public health and development challenge. For instance, she said: "In the last year, about 95 per cent of the estimated 228 million cases occurred in the WHO/ Afro Region, along with 602 020 reported deaths. Six of our countries, the worst-impacted by malaria in the region, are reported to have accounted for up to 55 per cent of cases globally, and for 50 per cent of these deaths." She added that despite some slowing of progress to reduce malaria cases and deaths, and the disruptions to health services caused by COVID-19, the situation was still better than it was in 2000.

Sahara Group Highlights Importance of Youths Exposure to Books to Energy Transition Peter Uzoho Nigerian multinational energy company, Sahara Group, has stated that a global commitment to encouraging youths to read books could play a significant role in accelerating the drive towards energy transition. The Director, Governance and Sustainability, Sahara Group, Ejiro Gray, was quoted in a statement to have said this in her World Book Day message, entitled, "Books as Levers of Sustainability." "Books open a world of opportunities; they are formidable vehicles of transmitting

knowledge and shaping lifestyles, and these can help unravel the energy transition message in a manner that gets more young people aware of why it is important and how they can get involved in the process," she explained. Gray said there was a critical need for more collaborative efforts by the goverment and businesses to enhance the access of youths to books across the globe, especially books that focus on the state of planet earth. She maintained that, "Books can break down the energy transition message into different levels to facilitate better

understanding of the subject beyond how it is applied in the energy sector. The people who will be expected to sustain the quest in the future need to be empowered now and books can easily become the link to making the transition sustainable." According to her, experts need to device means of simplifying energy transition through books, while also exploring its insertion in academic curriculum for the benefit of young students. "The future we desire can be transmitted today through books. In addition to transforming our operations in line with energy transition ideals, Sahara Group is

already exploring creative ways of documenting and amplifying the message through books for different levels of young people in our locations in Africa, Asia, Europe and the Middle East. We believe this will accelerate the understanding of energy transition across global markets.," she added. Meanwhile, in a bid to enhance access to books, Sahara Group has over the years, invested in the building and renovation of libraries across Africa while organizing school reading programmes anchored by volunteer employees as well as regional and global organisations.

MONDAY APRIL 25, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY APRIL 25, 2022

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E How APC Shut Its Door against Excellent Aspirants Vanessa Obioha writes that the All Progressives Congress may have shut its competitive space to excellent aspirants, going by huge cost of running for public oﬃce on the party’s platform

Buhari

Osinbajo

Tinubu

Umahi

ince theAll Progressives Congress (APC) announced the sales of its Expression of Interest and Nomination Forms for the 2023 elections at the recent meeting of its National Executive Committee, the party has been receiving knocks from the public for the fees which many consider outrageous. According to the party, a presidential aspirant will have to pay N100 million, while a governorship aspirant will pay N50 million. Those expressing interest in the Senate and House Representatives will pay N20 million and N10 million respectively, and those running for state House of Assembly N2 million. The only exceptions to these fees are people under 40 years who will get a 50 per cent discount while women and people with disabilities will pay only for the expression of interest forms. Considering the harsh economic situation in the country, the fees are seen by many as a deterrent to well-meaning Nigerians vying for such positions in the party. Meanwhile, the opposition party Peoples Democratic Party (PDP) set its presidential nomination form at N40 million, a lesser fee than what a youth aspiring for a similar position will pay under the APC. Governorship, Senate, House of Representatives and State House of Assembly nomination forms cost N21 million, N3.5 million, N2.5 million and N600,000 respectively in the PDP. To be sure, the APC has always pegged its fees very high. For instance, in the last general elections, the party sold the presidential nomination form at N45 million and in 2014 when it was still in opposition, it was sold at N27 million. Yet, the current fee drew ire and diatribes to the party, particularly as a corruption-free nation was one of its most prominent campaign promises. However, promoting such outlandish fees for aspirants within the APC makes nonsense of the party’s promise to fight corruption. Compared to neighbouring country Ghana, where presidential aspirants in the 2020 elections

paid 100,000 Cedis or US$17,000 as nomination fees to the country’s election agency while parliamentary aspirants who were on the ballot paper on election day in the 275 constituencies paid a deposit of 10,000 Cedis, the APC fee is still very high. As many have expressed, the party’s high nomination form fee is inconsiderate and outrageous. It will take more than two terms in office for a president to earn the equivalent of the nomination form fee, going by how much a Nigerian president earns. The current salary of a sitting president according to the Revenue Mobilisation, Allocation and Fiscal Commission is N14.058 million yearly. In its defense, some members of the party have argued that the high fee will make the primaries orderly. For example, a Chieftain of the APC, Chief Chekwas Okorie, posited that the high fee will help the party determine serious aspirants. But if that was a strong consideration, is the party not indirectly making the slot available only to those

who have a magnanimous financial war chest? Is the party effectively saying that only the rich can rule Nigeria irrespective of their source of wealth? Should this be the motive behind the fees? Isn’t the party indirectly being exclusive and promoting corruption while fragmenting democracy? Although Okorie argued that the fees will create opportunities for other parties to shine but in a country where the emergence of a new party on the political scene is crippled and oftentimes dictated by those who have been in either APC or PDP, it is difficult to imagine the opportunities provided by the high fees. Or is the APC attempting to reduce the number of its members? The party currently has over 40 million members spread across the country. This arguable figure after the former special purpose vehicle of the APC set-up to fill it’s national offices, carried out registration of new members. Usually, political parties make money from the primary elections to run their activities and pay their workers. However, there is no guarantee that the party will pay the members for their work. Most of the ire is directed at the insensitivity of the party towards the youths, even though it allowed a 50 per cent discount. For the convener

As many have expressed, the party’s high nomination form fee is inconsiderate and outrageous. It will take more than two terms in office for a president to earn the equivalent of the nomination form fee, going by how much a Nigerian president earns. The current salary of a sitting president according to the Revenue Mobilisation, Allocation and Fiscal Commission is N14.058 million yearly

of YIAGA Africa, Mr. Solomon Itodo, the fees will only promote negative competition and undermine democracy. “The moment you make the entry into political context defined by your economic war-chest, you have undermined the qualities and qualifications that should define our leadership selection process,” he said. Another rights group, the Civil Society Legislative Advocacy Centre (CISLAC) decried the fees, stating that it only defeats the goal of the Not-Too-Young-to-Run bill which was passed in 2018. “Needless to say, the Not-Too-Young-To-Run law has been reduced to only a facade that masks the true drivers of retrogressive politics in Nigeria, which include money politics, godfatherism and the lopsided economic disparity between the mighty old ruling class and the seemingly apathetic youths, deliberately pauperized by the same criminal political elite,” read a statement from the group. Again, the National Woman Leader of the APC, Betta Edu defended the party’s decision by stating that anyone aspiring for the presidential position ought to have large financial support. “When you make up your mind that you want to run, you should be able to prepare adequately for that race. Beyond that, there are many ways that young people can generate funding for elections. It mustn’t be your money.” Her last remark brings to mind the trend of people buying forms for presidential aspirants as seen by the Director-General, Tinubu Support Organisation (TSO), Aminu Suleiman, who signed a cheque to purchase the form for former Lagos governor and presidential aspirant Bola Tinubu, few hours after the party announced the sale of nomination forms. The Kebbi-born politician said that he was only reciprocating Tinubu’s kindness to the people. Such trend give room for corruption as investing such a huge amount of money will give room for a quid pro quo in future.

MONDAY APRIL 25, 2022 • T H I S D AY

MONDAY, APRIL 25, 2022 • T H I S D AY

PRESIDENTIAL INTERVIEW SERIES II

south-east has “ The to assuage the fear of the entire nation that it will keep Nigeria intact

“

Rochas Okorocha: Nigeria Needs Outside the Box Thinker

ith curious confidence and quick wit, a former Imo State governor, Senator Rochas Okorocha, has sent some innocuous warning to his co-contestants for the presidential ticket of the All Progressives Congress (APC) that, as an old hand, attempts to take him for granted in the equation could be counterproductive. Proudly reeling off his record, both in his days as governor and in personal capacity through his foundation, Okorocha is of the view that if the election is about performance record, name recognition, capacity and Nigerianness of each aspirant, then, it’s game over. In this second in a series presidential interview with THISDAY, Okorocha shares his ideas on how to fix Nigeria and stop the cycle of pushing over the existential problems. Excerpts: Continued on page 21

T H I S D AY • MONDAY, APRIL 25, 2022

PRESIDENTIAL INTERVIEW SERIES II

Nigeria Has Moral Burden to Allow S’East Shot at Presidency First off, are you really serious about your bid for the presidency, or you just want to crowd the space? Well, I’m running for the office of the president because of my passion and vision to make this country great. If that is what is meant by being serious, then, I’m serious. My seriousness is deeply rooted in my passion and the position I think I possess to change the narratives in this country called Nigeria. It is born out of the fact that I’m sick and tired of the same old story of a nation that seems not to be making any headway. So simply put, if that’s what’s meant by serious, I’m serious. But if that seriousness means jumping in front of the television or insulting people or doing anything like that, then, I’m not part of that seriousness. My seriousness is more of my passion and vision.

have built were said to have fallen apart immediately after you left ofﬁce. That they were poorly done, including the dualised Orlu-Owerri road, Amara road, inland road (warehouse junction), around Emmanuel College, and the two ﬂyovers, among others? Let me guide you. When they start with “Rochas did nothing” and I start mentioning them, they go back to quality. When I tell them the quality is correct, they say, oh… but you have agreed that I performed, that I did an awesome job. But now you picked some few kilometres out of over 1000 kilometres of internal roads within the city to say they’re bad. I want you to go to Imo State and see those roads. Whether it is what they’re saying, whether it is true or not. Granted that when you finish road construction, after eight years or six years, they develop some potholes. It could be because a broken-down vehicle, spilling engine oil was parked overnight there and there’s a chemical reaction or some people had blocked the drainage and water tried to find a different way, which is common with Imo State’s erosion, or that there were construction defects naturally, which is why they make room for maintenance. But the roads do exist and if you go to those roads, it’s the standard eight-lane roads that made sure that there was no more traffic in the state and to tell you, to shock you, to make it more succinctly clear, I built more roads than any government, more hospitals, more schools, more infrastructure than any governor in the history of that state and I’ve said this on public television and I stand to be challenged, and if anyone contradicts me, I will surrender my political ambition. In JAMB alone, Imo came out tops for eight years. Transparency International and National Bureau of Statistics in 2018, on their own (I never knew they were doing anything) analysed the corruption index of all the state governments and federal and came to the conclusion that Imo State during my tenure was the least corrupt state. In other words, there was literally no corruption in that state except the ones from the security agencies, that was what they said and the ease of doing business went higher. So it is not true that I didn’t perform and I still challenge every journalist today to prove me wrong.

Many think that your aspiration is unattainable no matter how hard you beat it, or beat the road. How really serious are you? Why does somebody think it’s unattainable? Why? I don’t understand, unless you tell me why. But I don’t think any Nigerian today would say it’s unattainable. If you look at the mood of the nation and the aspirants, then, you know I’m the best man for the job right now. We’re not talking about a normal nation; we are talking about an abnormal nation. So we need an outside-the-box thinker to change the narratives, because the situation and the mood of the nation now require a unifier. Someone who possesses the credentials, or qualities and capacity to unite this country. Rochas stands atop on this agenda. If bringing Nigerians together is anything to write home about in this very dispensation, then, I qualify. If you are talking about somebody, who can change the narrative of our economy, I qualify, and if you should tell me about somebody, who has a compassionate heart for the downtrodden, who really cares, then I qualify. These are the three things I think Nigeria is asking for right now. Nigerians are not asking for empty promises or lecture series to say, “I will, I will”, but someone with a track record and antecedents and if that’s the thing, then I am the most qualified. Apart from you just declaring, you’ve not been seen like other serious aspirants going round consulting and meeting people? No, I have contested for president not second or third, but this will be the fourth time. So we understand the terrain and Rochas Okorocha is not a new name in Nigerian politics. But of course, there are new entrants in the contest. I think apart from myself and Atiku Abubakar, every other person is just a newcomer to the whole thing. So, they need some level of noise-making or showing of presence for people to understand that you’re in the game. Including Tinubu? Tinubu is a first-timer. He hasn’t run before. But he has a national presence.. That’s a different thing when you say you want to be a president. People must assess you and if you look at the backlashes and all that is happening, you don’t see that happening with me, because I’ve been tried and tested. What would you say, that I have not cleared the air before? So they need to do what they are doing to get that kind of relevance. I have declared and I’m making my quiet consultation. If you recall, Rochas had the most colourful election campaign in 2002, preceding the 2003 election and if you remember, with long cars and all. Those are becoming old-fashioned. We’re looking at issues more. And I think this election in 2023 should be issue-driven, not by the noise-making or propaganda. You said something about those who have track records. Let’s interrogate your track record. Your tenure in Imo was very controversial and you are presumably basing your track record on it? When you are talking about track records, I’ll give you a few points. I say to Nigerians today that we have a major problem of 14.5 million out-of-school children, we need to put those children back to school. There’s no other person qualified to speak on free education or putting the students back to school than Rochas Okorocha. Why? The Rochas Foundation has colleges built across the length and breadth of this nation in every geopolitical zone. From Sokoto to Zaria, to Kano to Bauchi, to Jos to Adamawa, Oyo, Imo, Enugu, Cross River and of course, the African schools that brought children from all African countries totalling over 25,000 children since inception. Now, if I have done that, then if I say I want to take 14.5 million out-of-school children and put them to school, believe me, it will be done. That’s what I mean by track record. If I said to you that I will unite this country, believe me, because passion and love saw me take off from Imo, 1000 kilometres away from Kano, travelling there to put up my assets and wealth to educate the poor of that area. All the places I mentioned, I’m not from there. So if I tell you that I have in the past, through my education or foundation united this country, believe me. I don’t think there’s any Nigerian, who can speak like I speak, being from the north or south, any politician that has criss-crossed this nation to invest in the people that are not of his tribe. This is our point and what I mean by track record. If you say that today, a poverty-ridden nation that has qualified us as the poverty capital of the world needs a

compassionate leader, someone who really cares for the poor, because you have to care to really think of them, I tell you, Rochas Okorocha qualifies much more than anyone; who can say he will do that? This is what I mean by track record, but coming to Imo, I’ll summarise it, this time for you to understand. As the governor of Imo state, I introduced the first-ever free education from primary to secondary to university, first time in the history of Nigeria on record. As a governor of the state, I sacrificed my security votes, totalling about N8 billion so that free education can be given to the poor. As governor of Imo State, I introduced the “Youth Must Work” programme and engaged over 25, 000 youths. That gave us what we called relative peace for eight years, that you never heard of killings and beheading of people. As a track record, I introduced the “Community Government Council”, the 4th tier of government that brought government closer to the grassroots to allow traditional leaders and women to form a mini-government to take care of their communities such that when a roof of a school goes off, you don’t have to wait for the commissioner for education to come from Owerri, the community can fix it before it gets worse. That was vision and that’s track record. Now, I could mention that as a governor, I built over 1000 kilometres of roads, that I built 546 primary schools and I built 13 tertiary institutions, six universities licenced by the NUC in Imo State. I built the best international cargo airport in Nigeria as described by FAAN during the inauguration by Prof. Yemi Osinbajo, the vice president. I built 27 general hospitals and in 100 years to come, they will be functioning fully. I changed the landscape of Imo and introduced the first urban renewal programme, with the first-ever two flyovers,

the first-ever two tunnels, and ushered in the biggest real estate. The value of land skyrocketed from N500,000 in 2011 to between N50 million and N200 million in 2019 before I left office. I had one of the best state high court buildings in this country and the best police headquarters built by the Imo State government, with the standard better than any police headquarters in Nigeria, except the one in Abuja. I am proud to say also that I built the best prison command or what is called correctional centre, because the one we had before was directly opposite the government house and posed serious danger. You know what is interesting is that, people then trusted the government, people believed the government and my empowerment programme was second to none. There was entrepreneurship where each ward in Imo State got a trial programme on entrepreneurship by making a nobody, a millionaire. So I created 305 millionaires and guided them and they are there on record. In all of these, I left N48.3 billion behind which has never been mentioned and without owing any bank N1, when I left office. The truth is that I wasn’t a propagandist, and I was not very good at propaganda. So most people don’t understand. I introduced the first online commissioning, because I wanted to save funds by cutting costs of governance and you know that my state is not one of the wealthiest states. What Imo collects in 12 months, 14 months is what Rivers collects in one month and so is Delta. I was the most out-of-the-box thinker, and I created so much wealth for Imo State before I left, because I didn’t run it by just subvention and that’s what I want to bring to bear. Interestingly, some of the roads you claimed to

“…To make it more succinctly clear, I built more roads than any government, more hospitals, more schools, more infrastructure than any governor in the history of that state and I’ve said this on public television and I stand to be challenged, and if anyone contradicts me, I will surrender my political ambition”

You were fond of going to Turkey, leading trade delegations to Turkey, all in a bid to attract foreign investors. Before you left ofﬁce, how many businesses or investors came as a result of those trips? A lot. One of the major industries that kicked off out of this visit was the Zenith Paints, the former moribund Zenith Paints industry that I now converted. It was initially taken over by AMCON. We took it back. Today, that’s where the Chinese are producing their fridges, their air conditioners. I revamped the shoe industry though I had an issue with AMCON over some claims. Now, the Imo Ada Palms kicked off during my time and produced the first palm oil during my time, the Oguta fish industry came back, etc. You and your successor, Hope Uzodinma, have been playing a cat and mouse game, sparring publicly, as often as possible. What exactly is the issue? You know, again the journalists are not helping out on this matter, because you make it look like it’s a fight between two people. But it’s not. One man is making the effort to fight and the other is just keeping quiet. I’m not fighting back. Have you ever heard where I fought Hope Uzodinma? Have you ever heard where I made any statement against him? Never! Because I respect that office. It’s not about him, it’s about that office and I can’t separate him from the office now. I just came out of that office, so I can’t fight that office and I am not fighting him. If anything, I’m just defending myself, so that the world can hear my voice and know what he’s saying about me is not true. But what is the main thing that has come up? I spoke out my mind that Hope Uzodinma is not the winner of that election and that Emeka Ihedioha did not win that election, that Nwosu, who happened to be my in-law, won that election and came first and nobody has come out to say I’m wrong. Statistics are there. They took the power by force from here in Abuja and gave it to Ihedioha, because of the so-called sonin-law and they painted it black that my son-in-law was running, and that my wife was running to provoke the entire system. You see, I just found a young man, who I thought or think will do better than me and by divine arrangement, is my son-in-law. Uche Nwosu is the most loved young man in that state. Uche would still have won without me. Ask anybody today. He still remains a threat. So, we won the election and they refused to give it to him and decided to give it to Emeka. Uzodinma came number four and the only way he thought he could be relevant is to banish Rochas in the mind of the people. It’s a fight for superiority. But if a man has not hurt you, why hurt him? Imo’s case is not what I like to talk about. Sometimes, I stay away a whole year so that my impact is not felt, because anytime I step on the soil of Imo State, you see people who want to provoke the system gathering. But Imo has become a no-go area. How do you feel about this? If there’s a situation that eats me up, it’s that same matter. For the first time in the history of that state, we have seen people beheaded; that people are shot Continued on page 22

MONDAY, APRIL 25, 2022 • T H I S D AY

PRESIDENTIAL INTERVIEW SERIES II

Igbo People Highly Misunderstood, have Been Through Hell

every day to the extent that it’s no longer reported. There’s no day that passes without some people being beheaded or shot. My eight years in office never witnessed something close to that and again, it goes to what is called management and handling of situations. Wherever there is poverty in your house, the man should be careful because even your wife becomes your enemy. You were alleged to have stolen so much in Imo and that it’s one of the reasons for the situation in the state today. I told you that I left N48 billion and that I didn’t leave behind any bank loan. So, what else? So, why are you having cases with the EFCC? The EFCC is a body that takes every petition and must investigate. If I write a petition against you that you walked into my office and that you took N2 billion, EFCC must invite you and they must lock you up. You must make a statement, you must go on bail, that’s what it takes. It’s all false allegations. What was the wisdom in erecting statues everywhere? Fantastic! That’s perhaps one of my best projects and then the ministry of happiness. Imo State was in dire need of tourism and I needed to create historical tourism. That was the beginning and I can share with you briefly. We have a place that is called cenotaph, where they do the Armed Forces Remembrance Day every January. In 2011, the cenotaph was overgrown with weeds and there was no single structure other than a concrete area with a standing unknown soldier. And I said to myself, this man standing here every day, ( I made him a human being) protecting the people, but nobody cares about what the highest level of sacrifice he’s made. So, I said there’s the need to build a place of memories so that history will be told to children unborn. That was what brought Zuma, Awolowo, Ojukwu statues, etc. Why honour Zuma when he had corruption allegations? A man that had not been found guilty, you cannot say that. Anybody who doesn’t like you can come up with anything. To shock you, Zuma is the only president in the world that never saw the four walls of a classroom and never had a teacher in his life. It means that he had a special drive that those who never went to school needed to learn. He couldn’t write, yet, could speak, so it was unusual to have been the president of one of the biggest countries in Africa. Such a person must be great. He came in person to be honoured and that statue brought some of the highest revenues to Imo State. That five sitting presidents broke protocol . For a president to go to Owerri, he must first send a delegation. Same with Sirleaf Johnson. Hotels, cameramen, etc. were making money and those statues were built by Imo State University students. You know what, Buhari was there, Osinbajo was there, Kano governor was there, but the press went on overdrive that I was building statues everywhere. Sirleaf Johnson was the first female president in Africa and was an encouragement to women. What happened that you demolished that popular market, where the poor were eking out a living, such that a young boy died in the process? Now, that was also one of the best projects. I did not destroy the market without providing an alternative. I built 10,000 shops, which is much more

“Now, this nation has a moral burden to send this power to the south after eight years of being in the north. You can’t imagine eight years of President Olusegun Obasanjo, eight years of Vice President Osinbajo and somebody is still contesting when the southeast has never taken a shot?” than the market, in the opposite direction, the same distance. It was like 2 kilometres to the government house and it became a crime-prone area. The market overtook the residences, then came the kidnappers and the drug dealers. When I removed the market, I built a primary school and six-floor hospital which Prof Osinbajo came to inaugurate. But that hospital has of today been destroyed. Even the market people came to me and said they wanted to move. It was no longer safe for anybody. You couldn’t pass the place. And Somto that died didn’t die on that spot. Maybe it was a stray bullet. And I named the hospital after him and today, that place has been destroyed. For a man who wants to be president of Nigeria, there were allegations of corruption against you, including proof of movement of funds and appropriation of state’s properties. So not all that you read in the newspapers is correct. You know there was a press conference by the EFCC, where they said that they found government money of up to N5.9 billion in Rochas’ account and the thing went viral and then I demanded an apology and I wrote the EFCC to come and show me the money. I was prejudged. Today, they have said it’s no longer N5.9 billion, it’s N2.9 billion and till today, apart from the time I was arrested, I have not been investigated. EFCC arrested me once and locked me up for two nights and I said I needed some documents to supply more information. Till today, I have not been investigated. But some of your properties were revoked and siezed by the current government. What is the status of those properties? None of my properties were revoked. And there was no single land that was taken from me and I never allocated any land to myself or to any member of my family. There was only Rochas Foundation School, which I proudly allocated and I will allocate it again as president. I allocated it to Rochas foundation, where sons and daughters of widows were being trained. That school does not pay one naira. It’s free. Your party has failed and you are running on it? All parties in Nigeria have failed. Your party is in power now. It campaigned on a tripod of security, anti-corruption and the economy, all of which it has not been able to ﬁx. Why should anybody vote for APC again? Do you know there’s any political party in Nigeria, because political parties are based on ideology? The ideology of the APC and PDP are the same. So, don’t worry about the political parties, worry about the individuals. Start talking about men of vision in the party, not about the building, or the structure called a political party. In both APC and the PDP, there are

the bad, the good and the ugly. Now, how do you plan to get the ticket of your party, because if you look at it, since you declared, there’s been no endorsement of your ambition? How are you going to get the ticket? I will tell you what is happening in APC. Let me speak to the future, what I think will happen from my political experience. First of all, I’m very blunt. I don’t hide. What is happening now in the politics of APC is that there is what is called a moral burden on the leadership of APC. There’s a moral burden on everybody. The situation places a moral burden on the leadership of APC because Asiwaju will claim it’s payback time. That’s a moral burden, just like the vice president has a moral burden over Asiwaju as to whether he can really contest against his former boss. Now, this nation has a moral burden to send this power to the south after eight years of being in the north. Another moral burden is the south-east, because you can’t imagine eight years of President Olusegun Obasanjo, eight years of Vice President Osinbajo and somebody is still contesting, when the south-east has never taken a shot? It’s a moral burden on the South-south that two years of vice president Goodluck Jonathan and six years of his presidency, that they also want to go for it. And the South-east forms a tripod upon which this country was started. So, even if people try to change their names, that moral burden is still there. That you’ll be having a nation minus one, that is, the South-east if they are not carried along; they will just feel they’re not part of it. So, this is a moral burden and I happen to come from that part of the nation. That is one moral burden, that is if equity and justice will be seen to be done. I have mentioned to you, the mathematics. Most of these delegates are people that I have dealt with in the past. They know Rochas Okorocha. They know me in and out. It’s just like what’s called old firewood doesn’t take time to catch fire. So when I mentioned it to them, they would understand where I’m coming from, my antecedents and what I stand for. The other point that gives me confidence is that I stand today as the only presidential aspirant from the south, whose impact has been felt in the north. And that’s where the bulk of the votes are. A time will come when you ask, should the PDP also take their candidate from the South-east, who is that southerner that can easily win an election in the north. That’s where Rochas Okorocha will come in. Don’t you think the South-east also has its moral burden of not pushing its own agenda or playing its game well?

No. The South-east has no moral burden. The only moral burden is to assuage the fear of the entire nation that it will keep Nigeria intact. But thank God that there’s one man, and he’s Rochas Okorocha. That it doesn’t have the resources is not enough reason to deny them, because the South-east in the past, has gone through hell. Take, for instance, you have the President of the Republic of Nigeria now from the north-west, vice president is south-west, senate president is north-east, speaker is south-west, deputy senate president is south-south, deputy speaker is north central. So, everywhere is balanced, minus the south-east. Chief justice is north-east, chairman of the party is north-central. In this whole arrangement, there’s no south-east. So, if you call a Nigerian meeting today, there will be no Igbo man. Come to the security architecture of this country, all of them, there’s no single south-easterner. When you give something to south-south, you have not given it to south-east even if the person bears an Igbo name, he’s from the south-south. So, giving it to the south-east is only fair and equitable. People think that there’s something wrong with the way the South-east plays its politics. Don’t you think so? I don’t think so. I do not think there’s something wrong with politics. It’s only in the South-east you see an APC, you see PDP, you see APGA. You go to South, it’s all PDP apart from Cross River that recently joined. So that’s good politics. The Igbo are highly misunderstood. Ironically, some of these things are self-inflicted. In the 2019 general election, Abubakar Atiku emerged presidential candidate of the PDP and he picked a south-easterner in the person of Peter Obi as his running mate. If Atiku had emerged as president, the next in command is the vice president, the highest-ranking south easterner, but the South-east governors ganged up against the ex-governor. They worked against the interest of the party. Those are the people you need. Those who will work against their people and work for the nation, because it means that these people are not sectional or tribalistic. You would have wanted an Igbo man to support an Igbo man and a Yoruba man to support a Yoruba. It means that they went beyond ethnicity. Those are the people that we need. In fact, you are giving them more kudos. So, why are you complaining now? No, I am not complaining. They should do the same. But it has not paid off, has it? The politics we want them to play is that of Obasanjo and lu Falae. If you can do it for south-west, then, do it for the south-east. Political parties exist principally to win elections, not to pick a candidate from a zone that hasn’t produced the president before. That’s the argument by a lot of people. I am saying this because of this south-east zoning argument. We are talking about democracy which requires the majority winning an election. A group of people who come together to win elections. Now, what we’re talking about is equity and justice, because democracy can also operate under equity and justice. Now, my question to you is would you want to have a nation where one part is excluded? You have to have equity first. But equity does not win elections. Equity will win elections because all the parties, Continued on page 23

T H I S D AY • MONDAY, APRIL 25, 2022

PRESIDENTIAL INTERVIEW SERIES II

I’m Not Fighting Uzodinma, Only Defending Myself to convince the elite to be on my side. To convince the governors to be on my side, to convince the presidency to be on my side. But if it’s this one – the delegates – they will vote Rochas.

like they did for Olu Falae and Obasanjo, will give you the equity desired unless you are saying there’s no sound person in the south-east of this nation, then, that would be an unfair statement. Sometimes, the right will have to wait for the left to give everyone a sense of belonging and it’s pivotal that it will make the difference this time.

And the consensus? My suggestion to the APC since there’s going to be a lot of confusion, would be first and foremost, ask every zone to give you two aspirants, assuming that the north is not presenting any candidate. Let these two persons each face the leaders of the party to address them, then reduce it to one person from each zone from the south. At this point, Mr President will get involved and that’s when we can have a consensus. He will say these three people are okay, look at their antecedents. With this, APC will be home and dry, but if they take all these people to primaries, there will be a crisis. There are those waiting for presidential directives and they are more than 50 - waiting in the wings from all parts of Nigeria, then, there are those that think they have the wherewithal and those who are coming purely on their vision – people like Rochas.

So, what would you do to convince delegates because that’s the stage everyone is at now? Delegates are Nigerians and they also share the pain of every Nigerian today. They are looking for a leader, not a manager. They’re looking for somebody who will share their pain. Someone, who has vision and passion for this country. Somebody who has demonstrated that in the past. I’m not going to say “I will”. I am not making political promises. That is cheap. But look at what I’ve done before, because this nation is at the stage where it is no longer looking for people who will say “I will”. I am saying “I’ve done”. And I challenge anybody, who has a better track record than Rochas Okorocha to challenge me. Are you not worried Nigeria is in trouble today, because your party brought this shame on the nation, and then, you still want to run on the same platform? I like that question. All have sinned and have come short of the glory of God. What you do not know is that any problem that you see Nigeria is facing today is a problem of 20 years back. The one that even this APC government is going to push to the next president will be 100 times more. The Boko Haram insurgency that Buhari is suffering now, is a type of inherited problem. That’s what is happening in the country. And that’s what people don’t understand. I’m being honest with you. Today, we have 14.5 million out-of-school children. They are 10,11,12, 13 years. In the next five years, they ‘ll be hitting 20, then, they will be qualified to carry arms. So, today we’re talking about less than 200,000 or 500,000, Boko Haram insurgent actors everywhere. But in the next eight or 10 years, we’ll be talking about 14 million or 10 million of them. The president at that time will have to face them if the problem is not tackled now. Every past president is celebrated; they are the favourites after they leave office. This Buhari will be celebrated. I will tell you why. If there are no changes in the situation, he will be celebrated, because people will say at least then, we still had some rice to eat. Today, former President Jonathan has become a saint, Obasanjo has become a big saint. It’s the inherited problems causing this. They are not resolving the problems. They’re pushing them forward and that’s why I am offering myself to stop this blame cycle. So, what is wrong with the man Buhari? Capacity! He lacks capacity. Excuse me, no. Capacity is relative. But part of the reason we voted him was because Buhari was not corrupt. Would you say he’s corrupt now as a person? But under his government, look at what is happening, because you can’t exonerate him from what’s happening. In fact, would you say that Buhari has primitively accumulated wealth for himself at the expense of Nigeria? No one can tell for now until he leaves power. Buhari is like a gentleman struggling with a small amount of resources to solve big problems. He’s using N10,000 to solve a N1 billion problem. That is the present situation of Nigeria. Never in the history of this country had there been a leader so aloof, lacking empathy, unconcerned. All the qualities of a good leader, he doesn’t tick any. As you are here now, if you think you’re going to meet one problem and you have prepared your mind to solve that problem, and all of a sudden, you found 10,000. How do you survive? Where do you start from? There were no 10,000 problems, that’s just an excuse… (Thisday interjects.) You will be overwhelmed. If you look at the songs being sung by all the aspirants, they are not different from the ones we sang in 2015, 2019 even in 1993. I was watching one of the TV stations and someone was talking about a bag of rice. We said

Are you sure there will be an APC primary election? Yes , there will be a primary, but if they take this step, it will come near to a consensus and there will be no so much ill feeling.

that 10 years ago. So, what’s the root cause of these problems. Until we solve them, we are not going anywhere. But you can’t make all these excuses for Buhari – a man, who ran for an election in 2003, 2007, 2011 and 2015 and you are making excuses for him? If you say that Buhari underestimated the level of mess, you are probably not wrong. No. What mess? He has destroyed this country… (an argument ensued) I don’t agree with you. In terms of security, you cannot travel by road, by air or by rail. Everyone is marooned in their small spaces. If you were President Buhari, what would you do? Isn’t it evident in the way he is handling security? You have bandits killing people and he’s keeping quiet. I am aware that within this period , the president has voted over N1.5 trillion for the purchase of military equipment. But they are stealing the money. We are dealing with the symptoms, not the disease. If you bring a president among these aspirants, they will be worse than Buhari a hundred times. Nigerians do not just want anybody to be packaged again. You wear Igbo clothes today, wear Yoruba clothes tomorrow and rebrand him and say, this is your president. If you say that Buhari is incompetent, then you will say that all those that had governed Nigeria are incompetent. He’s in government now, wait for another one to come.

“Take, for instance, you have the President of the Republic of Nigeria now from the north-west, vice president is south-west, senate president is north-east, speaker is south-west, deputy senate president is south-south, deputy speaker is north central. So, everywhere is balanced, minus the south-east”

Before your declaration, you made attempts to see the president, and what was his reaction to your ambition, when you eventually saw him? President Muhammadu Buhari is a general that you cannot predict his first or second action plan. The way he looks at you is the way he looks at everybody. So, you either go home confused, feeling loved, or feeling that he hasn’t endorsed you. If you become the president of Nigeria, how would you govern this country? The man there now came with the formula 97 per cent and 5 per cent. There’s a difference between politics and governance. Politics is just simply a vehicle for a political party to put in place governance. And once you get to a place of governance, you must separate politics from government. You are not the president of a section. You are president of the good, the bad and the ugly. You are the president of the Federal Republic of Nigeria. That should be a mindset. That’s my mindset. And I did that in Imo. There was a zone called Okigwe that did not cast their vote for me. They hated my election. But they got the commissioner for finance, vice chancellor and many key positions that shocked them. They were even feeling guilty. In the next election, they gave me all their votes. So, it is about the mindset and largeness of heart. This country desperately needs security. How will you restore it? How will you take Nigeria back from bandits, from herdsmen, from kidnappers, from rapists and all of those criminals? And of course poverty which is their father, and their grandfather is ignorance. Insecurity is a symptom of a disease and as long as you keep treating symptoms, the disease will never go away. The population has kept growing despite shrinking wealth. This is why I told you that it’s not about presidents, it’s about understanding the problems and our biggest problem is that Nigeria does not understand its problems. The problem of this country is wealth creation and I am coming to create wealth. Who told you that if President Buhari has N100 trillion, he won’t employ all the boys, give us electricity? What you are seeing as a failure is something resulting from ignorance and a lack of wealth creation. One, do you see anything standing between you and your ambition, two are there plans to build consensus in the south-east and three do you think your party can actually have a proper elective convention? The distance between me and the villa is the party ticket. There’s hardly anyone that can beat me in a general election in this country. But the political cabal knows this. So, if there’s any challenge, it is what I will do

Your party just released the cost of nomination forms, N100 million. Some have said it’s highly prohibitive, but the National Women Leader of your party said it was meant to weed out unserious aspirants. What is your reaction and can you afford it? The N100 million presidential form for APC has become a thing of discourse. And from the public perspective, it is too expensive and the thinking is that a president, who has spent that kind of money will want to recoup it at all cost. The other side is saying that the primary objective is to raise funds for the party because after the primaries, most people don’t care about the party. Secondly and most importantly, the party thinks that any serious-minded person running for the presidency should be able to raise that kind of funds. But from my own perspective, as we go on in our nascent democracy and continue to improve, monies meant to be paid by presidential aspirants will be sourced as a criterion to test your popularity. People you are coming to serve will contribute towards your election and will help control abuses. So, at a point, part of the qualifications should be that you should be able to produce 200,000 people that will give N500 each to produce N100 million paid by the people and monitored by the party and INEC. It should actually come from the masses and when you win elections, you know you owe the masses and you must work for them. With this, when you spend your personal money, they feel they don’t owe you anything, after all, they paid you to vote for them. So, I am beginning to see an amendment across that line. That for you to have people across the country, it will show how strong you are and where your support comes from and ensure it’s not manipulated by anybody. If we can structure it this way that I am suggesting, it will go a long way towards an African modernised democracy, which is like giving 5 million Nigerians a chance to contribute and once you can raise that, you are sure of your candidacy, because they are sure of who you are, so that the big money spenders don’t hijack it. Can you afford it? Definitely, I will be able to afford the N100 million for the form because I am going into this not for the profit of the job, but for the glory of the job. If my N100 million will make me get the mandate of the people, of course, I will make that sacrifice. That’s why as governor of Imo State , I did not take N1 as salary in eight years and I didn’t take any security votes. I am used to giving. I see the N100 million as money given to the society. That’s how I see it. Some people have also said that in a way, this systematically cuts off young people who will not have that amount of money to pay for just nomination forms. That it’s anti-young people. Money in politics in Africa has destroyed democracy. For me, I will just say to you that the day we shall get it right is the day that the public and the people you are going to lead start funding you. That will be the people’s mandate. It’s not about youth affording it because if the youth is popular, you can still get young men across the country to raise N500 million to support their own. Future amendment to our constitution should be such that no aspirant should be made to spend N1 on election. This will cut down the cost of election and bring out the true leaders, because if the law says no aspirant should bring out N1 and INEC monitors it, EFCC does, ICPC does, no N1 from your account moves to print a poster, money politics will disappear and the real leaders will emerge. This is a wake-up call that democracy in Africa should be reformed such that the people decide because democracy, after all, is the government of the people, by the people and for the people. So, expenditure should also be of the people, by the people and for the people and not of the contestants.

MONDAY APRIL 25, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 25, 2022

This Week In Tech Tech Top 5 News 08097710984

AFDB APPROVES €9.8M FUND FOR AFRICAN STARTUPS he Board of Directors of the African Development Bank (AfDB) has endorsed a 9.8 million Euros equity investment to stimulate venture capital investments in African entrepreneurs at all stages of development. AfDB will provide €7 million from its funds to the equity fund. The additional €2.8 million will be funds from the European Union through a partnership with the Organisation of African Caribbean and Pacific States (OACPS). The investment is expected to help Cathay-AfricInvest Innovation Fund meet its target of securing €110m to invest in over 20 early-stage ventures across sub-Saharan Africa. The Innovation Fund focuses on financial inclusion (financial tech and insurance tech), retail and logistics platforms targeting online and mobile consumers, healthcare technologies, and pay-as-you-go, off-grid energy technologies. More recently, the Innovation Fund has expanded its focus to include startups that use emerging digital opportunities created by the COVID-19 pandemic or with a massive potential to contribute to the coronavirus fight. The Mauritius-based Fund is jointly sponsored by AfricInvest Capital Partners and Cathay Innovation SAS. AfDB Director for Financial Sector Development, Stefan Nalletamby, in a statement, said, “The Bank’s approval signals the importance given to Africa’s tech-enabled rising entrepreneurs, as well as the significant role played by AfricInvest and Cathay Innovation in supporting this key business segment to achieve Africa’s growth, transformation and integration objectives.” The bank’s investment is expected to accelerate the creation of a new class of successful African entrepreneurs that will serve as a model to younger innovators. Through appropriate technology and innovation, it will also support youth and women-led startups and increase access and inclusion to financial and ‘real sector’ services and goods.

PANTAMI SEEKS DEPLOYMENT OF EMERGING TECHNOLOGIES IN EDUCATION SECTOR To prioritise deploying emerging technologies in Nigeria’s education sector, the Tertiary Education Trust Fund (TETFUND) has been tasked with ensuring this happens. The Minister of Communications and Digital Economy, Isa Ali Pantami, disclosed this when he received the Executive Secretary of TETFUND, Sunday Echono, in his office. He noted that the deployment of blockchain technology in Nigeria’s tertiary institutions would help preserve data integrity and promote efficiency in administering certificates, transcripts, and records. The TETFUND team was at the Communications and Digital Economy Complex, Abuja, to explore collaboration with the Ministry on the Internet for Education, Broadband Penetration, Subsidies Data for Educational Contents, Data Hosting, Digitalisation of Thesis and Facilitation of Hybrid Education. Pantami said, “The deployment of blockchain technology in Nigeria’s tertiary institutions will help preserve data integrity and promote efficiency in the administration of certificates, transcripts, and records, among others.” By using Blockchain, students cannot alter their creditability like grades, degrees, and certification, thus guaranteeing the employers that the job applicants have the necessary skills for the job post. NETFLIX STOCK PRICE PLUMMETS TO 35% AFTER LOSING 200,000 SUBSCRIBERS Netflix announced that it has recently

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Tech Personality of The Week MAYA HORGAN FAMODU

his week’s tech personality is the founder and partner at Ingressive Capital, Maya Horgan Famodu. Famodu is also a venture capital investor and the co-founder of Ingressive for Good. Ingressive Capital is a $10 million VC Fund focused on early-stage African technology. It invests in brilliant, resourceful founders with demonstrated grit building tech-enabled businesses in sub-Saharan Africa. Ingressive for Good is a non-profit initiative that provides microscholarships, technical skills training, and talent placement. She also founded Ingressive, an advisory firm providing market entry, technology research, market operations services and tech research for firms and businesses expanding into Africa. Maya was listed among 2019’s ‘10 Inspiring Women Ruling Nigeria’s Tech Ecosystem’. She also appeared on the Forbes Africa 30 under 30 lists in 2018 under the technology category. lost 200,000 subscribers in the first three months of the year, which marks a major setback for the streaming giant. In its recently released quarterly earnings report, the company further projected a loss of another two million subscribers over the next quarter. With the weak performance in Q1, Netflix said its slowdown in growth was due to various factors, including account sharing, continued disruption caused by the pandemic and increased competition from rival streamers. It ended March with 221.6 million worldwide subscribers. The week finished with a 35 per cent drop in Netflix’s stock price as investors fretted about the company’s slowing growth and mounting competition. In terms of capitalisation, Netflix is now worth $1009 billion, making it more difficult to raise money to fund the investment for content production upon which subscriber growth has been dependent. Even though it has plans to introduce low-cost subscriptions that adverts will support to boost customer acquisition, users fear that its prices will go up to compensate for fewer subscribers and the biggest single-day loss of value in its history. The streaming giant signaled that it would likely crack down on sharing subscriber passwords that have enabled multiple households to access its service from a single account. INSTAGRAM CREATES SPECIAL FEATURES TO RECOGNISE ORIGINAL CONTENT CREATORS Instagram has introduced few changes to ensure content creators are recognised for their work.

According to Instagram Head, Adam Mosseri, the updates are meant to “make sure that credit is going to those who deserve it.” The first change is through product tags. The feature allows users to tag products in the post. Creators can assign themselves a category such as ‘photographer’ ‘make-up artist’ E.T.C, and that category will appear every time they are tagged in a post. In addition to this, the Meta-owned app promises to promote original content on the platform heavily. Explaining these new features in a video posted on Twitter, Mosseri said, “You create something from scratch; you should get more credit than if you are re-sharing something that you found from someone else. We are going to try and do more to try and value original content more, particularly compared to reposted content.” Mosseri explained further that original contents edited outside of Instagram and uploaded to the app would not be penalised as long as there’s no watermark on the content. “The idea is if you made it, it is original. It is okay if you edited it outside of Instagram and then bring it in via the gallery,” he said. The change is likely to be a significant problem for aggregator accounts, which are often accused of stealing content and credit from authors despite being immensely popular sources of memes and trends. Mosseri emphasised that if the account is an aggregator, they will more likely be able to detect that it’s not original. “As we lean more into recommendations, it’s becoming increasingly important that we don’t

overvalue aggregators,” Mosseri tweeted, “as that would be bad for creators and therefore bad for Instagram long term. MASTERCARD FOUNDATION, TRACE LAUNCH FREE LEARNING APP Mastercard Foundation and Trace have launched a new learning application to enable 26 million young Africans to acquire on-demand market-relevant skills. The mobile-based app, Trace Academia is free-to-use and interactive, and tested in four African countries. The learning content will include technical courses relevant to 15 different industries such as technology, energy, beauty, fashion, Do it yourself (DIY), digital marketing, hospitality, the creative arts, journalism, and film, as well as courses that are more broadly relevant. Each course featured on the application has been designed in collaboration with an industry-leading organisation to ensure its relevance to employers and the job market. Users can access courses in both English and French, with Portuguese-language courses to be launched soon. The chief programme officer, Peter Materu, said the Mastercard Foundation is pleased to support the platform as part of the Young Africa Works strategy to enable 30 million young people to access dignified and fulfilling work by 2030. “The platform offers young people total flexibility and control over their learning. Users can learn at their own pace, in their own time, and customise their journey to the emergent demands they face as they navigate the world of work. Secondly, the courses are deeply practical and designed in collaboration with market-leading organisations to ensure they are industryrelevant,” he said.”

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T H I S D AY MONDAY APRILApril 22, 2022 Monday 26, 2022 Vol 27. No 9877 TR

See page 28 A NATION WITHOUT BOUNDARIES CHARLES DICKSON argues that we are a nation without remorse, where no one holds up to his responsibility See page 28 MATTHEW KUKAH: NIGERIA’S AUTHENTIC VOICE KENE OBIEZU urges the authorities to listen to Kukah as the administration is increasingly losing grips

See page 29 THE BENIKRUKRU POLLUTION CHALLENGE The federal government must hold oil prospecting companies accountable for their misdeeds, writes JEROME-MARIO CHIJIOKE UTOMI See page 29 EDITORIAL

ENDLESS COLLAPSE OF POWER GRID

See page 30

& RE A S O

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THE ECONOMY AND FOREIGN EXCHANGE DYNAMICS In spite of efforts by the CBN to boost foreign exchange inflow, there are still fundamental challenges, writes ARIZE NWOBU

UT H

The obsession for a President from the Southeast zone is not without reasons, contends NDUKA NWOSU

A NIGERIAN PRESIDENT FROM THE SOUTHEAST The argument no doubt has gained momentum about now, on why Nigeria’s next President should come from its Southeast zone. The Igbo intelligentsia has in the last few months been showcasing some of the best in its First Eleven, just to convince the rest of the country on why the next President of Nigeria should come from the Southeast. This is against the backdrop of some wobbly body movements by two Southeast governors, Ifeanyi Ugwuanyi and Okezie Ikpeazu, backing Governor Nyesom Wike’s Presidential bid. The Southeast Leadership, parading some of the best and brightest in the zone, is no doubt the core Igbo group at the vanguard of this push, that is, among the many, using the theme: Ahamefula (may my name not be forgotten) as its focus. As a group, it remains unrelenting in its quest and clarity on what needs to be done now. It met in Enugu in March urging all Easterners in all political parties especially the Peoples Democratic Party (PDP) and the All Progressives Congress (APC), to stand ÀUP LQ WKH GHPDQG IRU HTXLW\ DQG IDLUQHVV “Indeed, we do need to hear the Southeast demand resonating in all political fora across the country. We believe that we shall get justice in the end,” the group asserted, in its press release after the meeting. The heart of the matter is that the Southeast KDV VXͿHUHG PDUJLQDOLVDWLRQ VLQFH WKH HQG RI the civil war and has not been favoured in the VKDULQJ RI WKH WRS SROLWLFDO R΀FH RI SUHVLGHQW Since the 1995 Constitution provides for the rotation of the presidency which should be the turn of the South, it is important the rest of the country supports the Southeast candidacy for President in 2023. However, Ohanaeze Ndigbo last Saturday stated it was in support of a Nigerian President of Igbo extraction irrespective of geographical demarcations that have since the advent of the military separated Ndigbo in the Southeast from their kit and kin in Ikwerre, Rivers State and the Delta region. That automatically changes the equation admitting Rotimi Chibuike Amaechi, 1\HVRP :LNH DQG *RGZLQ (PHÀHOH Central Bank of Nigeria Governor, who until recently was the poster boy of a Nigerian President of Igbo extraction, as Igbos of the 'HOWD UHJLRQ VHHNLQJ WR Á\ WKHLU SDUW\ ÁDJV for the Presidency. But that is beside the point. Regardless of these shades of opinion, the critical mass remains a Nigerian President of Southeast extraction. Rotation means the South should present the major Presidential candidates, one of whom should succeed President Muhammadu Buhari in 2023. The issues right now are in the public space. The contention of Ahamefule and the various groups campaigning for an Igbo Presidency is that no Igbo has been Executive President of Nigeria in the past or since the coming of the Fourth Republic. Nnamdi

Azikiwe was a ceremonial President, while Abubakar Tafawa Balewa was Prime 0LQLVWHU 1LJHULD·V ÀUVW PLOLWDU\ +HDG RI State, Major General Johnson Thomas Umunnakwe Aguiyi-Ironsi, had barely settled down when he was assassinated; Vice President Alex Ekwueme had the goodwill and opportunity to succeed President Shehu Shagari but the military in 1983 truncated the Second Republic. Again in 1998, Ekwueme played a leading role in the founding of the PDP but lost at the Presidential primaries. Ogbonnaya Onu, APP Presidential standard bearer stepped down for Olu Falae when the Alliance for Democracy and his party formed an alliance. Olu Falae became the stanadard bearer at a time the Yoruba was favored to produce the next President with Olusegun Obasanjo as the candidate for PDP. The Southeast since the beginning of the Fourth Republic in 1999 has always cast its votes for Presidential candidates from other zones, especially those contesting under the PDP. It did so for Olusegun Obasanjo, Shehu Yar’Adua, and Goodluck Jonathan; it believes therefore that the time has come for the rest of the country to agree that this zone should produce the next Nigerian President. The Southwest has had a President for eight years, a Vice President about to complete his HLJKW \HDUV LQ R΀FH DQG WKHUHIRUH VKRXOG QRW be clamoring to succeed President Buhari. It is without doubt an insult for a part of the country that was active in the founding of a great nation as Nigeria, is endowed with all forms of human capacity whether in the academia, trade, commerce, or politics, to be told it does not have what it takes to produce a Nigerian President. The Southeast will not give Nigerians a crook as a President; it will not put forward people whose mindset favours squandermania and prebendalism. PDP’s Presidential aspirant Peter Obi has stated clearly there will be no sharing of the national cake behind the counter, and that

Give it to the Southeast and see a new Nigeria of great possibilities, secure, economically buoyant and with leaders that can rewrite the poverty capital script, a Nigeria where tribe and tongue may diﬀer but has one cause - unity of purpose

he would block loopholes for extravagant expenditures as he did as Anambra State Governor. He carries an impressive track record that is trustworthy. Anyim Pius Anyim as Senate President was central in ensuring that President Obasanjo’s Third Term bid, through an DOWHUDWLRQ RU IDOVLÀFDWLRQ RI FHUWDLQ SDUWV of the constitution, was frustrated. He served under Jonathan as Secretary to the Government of the Federation (SGF) and has enough knowledge on how to drive the DͿDLUV RI JRYHUQPHQW DW DQ\ OHYHO Mazi Sam Ohuabunwa is a corporate boardroom tactician who has been involved in giving the various governments of the day, a visionary package, a blueprint for driving the economy to global relevance. Professor Kingsley Moghalu has impressed the youths by representing their interests in his manifesto; his brief antecedent at the CBN and the UN speak volumes of his capabilities. What the Southeast needs before May 28 is to canvass for a consensus candidate among its many aspirants especially for the PDP and the APC with or without the candidates from the North and the South south stepping down. On the APC side, there is need for the candidates from the Southeast to agree on a single candidate. Governor Dave Umahi, former governors Rochas Okorocha and Orji Uzor Kalu et al, must agree on presenting a sole candidate to contest the presidential primaries of the party. A single consensus candidate from the Southeast will send a strong message to the delegates coming to the convention that the Southeast has defeated the naysayers, the nattering nabobs of negativism according to Ukpabi Asika, that when it matters the voice of a united Southeast will resonate for HͿHFW )RU WKRVH XVLQJ WKH \RXWK GLVWXUEDQFH in the zone as a reason to deny the Southeast its lot about now, need they be reminded the reason for this youth restlessness is anchored on the marginalisation of the zone in the Nigerian project. Who will be happy to be stepped down as a prospective university candidate with a score of 300 in favour of another with a score of 80, in the name of federal character? The examples are endless. Joblessness, nepotism, et al breed restlessness which has spread across the country, not just the Southeast. The country is plagued with poverty, disease, illiteracy, in particular insecurity and terrorism that have surpassed those of the Islamic State of Iraq and Syria (ISIS). What the country needs is an altruistic, committed leader who works for country and not his pocket. The Southeast has an abundance of men of integrity whose strength of character will help to turn around the country’s destiny. Nwosu is a Journalist

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T H I S D AY

In spite of efforts by the CBN to boost foreign exchange inflow, there are still fundamental challenges, writes ARIZE NWOBU

THE ECONOMY AND FOREIGN EXCHANGE DYNAMICS Exchange rate is the price of one currency in terms of another and it is the back bone of international trade. It helps to determine the health of an economy and the well-being of citizens through the quantum and ratio of imports and exports. A country’s exchange rate is determined by its foreign exchange earnings and external reserves, and a number of variables interplay in the dynamics of foreign exchange. 7KH LPSRUW H[SRUW DFWLYLW\ LQÁXHQFHV exchange rates and other critical SDUDPHWHUV VXFK DV LQÁDWLRQ LQWHUHVW UDWH WUDGH VXUSOXV RU GHÀFLW DQG *'3 /RZ H[FKDQJH UDWHV VXSSRUW LQÁRZV RI foreign exchange and imports while high exchange rate and a strong domestic currency hampers exports which in turn KDPSHUV IRUHLJQ H[FKDQJH LQÁRZV Recently Nigeria’s exchange rate took a turn and elicited concern but unnecessary criticisms against the Central Bank of Nigeria (CBN). It was all unnecessary and unwarranted as we need to be clear on certain fundamentals of the economy.

The apex bank has initiated notable policies aimed at pushing the frontiers of the economy. But until the fundamental challenges are holistically surmounted through concerted efforts of both the fiscal and monetary authorities and major stakeholders and institutions, we may continue to satisfice rather than maximize the potential of the economy Though it is a primary duty of CBN to formulate monetary policies to drive the economy, there are also some fundamental and aberrant factors inherent in the economy which tend to hamper the HͿHFWLYHQHVV RI VRPH SROLFLHV ZKLFK DLP DW VWLPXODWLQJ HQHUJHWLF LQÁRZV DQG pushing the frontiers of the economy. And until those fundamentals are holistically restructured, we may continue to periodically witness gyrations in the H[FKDQJH UDWH DQG VDWLVÀFH UDWKHU WKDQ maximize the potential of the economy. There is no gainsaying that the economy is factor-driven and monolithic.

Oil contributes more than 80 per cent of foreign exchange earnings, a development which readily exposes the economy to shocks. The economy is also largely importdependent. Ordinarily large scale importation is good because it indicates WKDW DQ HFRQRP\ LV UREXVW ,W DOVR RͿHUV citizens wider product choices even at cheaper rates. But it becomes problematic when it is not matched with a robust manufacturing base, exports and other services such as tourism which promote foreign exchange LQÁRZV 6XFK LV WKH IXQGDPHQWDO challenge of Nigeria’s economy. It was reported that the economy recorded the highest import bill of N6.85 in 12 years with a 54 per cent increase GXULQJ WKH ÀUVW TXDUWHU 4 $QG WKH WUDGH GHÀFLW VWRRG DW 1 WULOOLRQ LQ ÀUVW KDOI + Other notable challenges of the economy include what development economists term as the commitment of ‘’original sin’’ which is the inability of a nation to issue debt in local currency and reliance on mostly external grants and concessional loans to fund government GHÀFLWV DQG FDSLWDO VSHQGLQJ DQG ZKLFK is said tended to pass currency risk to customers. CBN has been aggressive in formulating policies in the management of both the demand and supply of the intractable foreign exchange challenge. Some of the policies such as the prohibition of 41 items from the Interbank foreign exchange market and the establishment of the Importers’ and Exporters ‘ (I&E) FX Window made reasonable impacts until the situation was exacerbated by the COVID-19 pandemic which crashed oil price and distorted the trajectory and momentum of the economy. *RLQJ IRUZDUG WKH EDQN LQWURGXFHG the dollar for naira policy to stimulate LQÁRZV 7KH SROLF\ RͿHUV D UHEDWH RI 1 for every $1 of remitted funds to Nigeria. While some analysts were optimistic that LW ZRXOG FUHDWH LPSDFW RQ LQÁRZV RWKHUV believed it would not. In a press report, Professor of Economics at Olabisi Onabanjo 8QLYHUVLW\ 6KHUL΀GHHQ 7HOOD QRWHG WKDW ‘’it won’t have any major impact on Diaspora remittances.” According to him, ¶·WKH ÀUVW WKLQJ LV WKDW WKH DPRXQW 1 LV too small to attract those living abroad to start sending money home.’’ But CBN *RYHUQRU *RGZLQ (PHÀHOH QRWHG WKDW remittances improved from a weekly average of about $5 million to over $30 million per week through the Bank’s foreign exchange initiatives. Overall, the apex bank has initiated notable policies aimed at pushing the frontiers of the economy. But until the fundamental challenges are holistically VXUPRXQWHG WKURXJK FRQFHUWHG HͿRUWV RI ERWK WKH ÀVFDO DQG PRQHWDU\ DXWKRULWLHV and major stakeholders and institutions, ZH PD\ FRQWLQXH WR VDWLVÀFH UDWKHU WKDQ maximize the potential of the economy. Nwobu is a Lagos-based Chartered Stockbroker and Business Journalist

MONDAY APRIL 26, 2022

CHARLES DICKSON argues that we are a nation without remorse, where no one holds up to his responsibility

A NATION WITHOUT BOUNDARIES At each stage in our life, we build rafts to get us from one level to another—Pushing through boundaries (How to create epic outcomes in life and business) - Innocent Usar It has been a while since I read voraciously a work by a Nigerian author without dropping it, till I was done, because not only was it well written but because I could relate ZLWK LW DQG LW PDGH PH UHÁHFW DJDLQ RQ WKH construct called Nigeria. I do not know exactly what was the driving force for Innocent Usar, but for the barracks raised lad turned great man, the journey through the book Pushing through boundaries (How to create epic outcomes in life and business) indeed is one of shared learning and teachable moments, 43 chapters, 307 pages, well-crafted around six parts, I cannot pick out which is my best part. 5HDGLQJ WKURXJK WKH ÀUVW SDUW UHLQIRUFHG my learning that Nigeria is where we are today because our leaders and citizens (A) do not have an aware mind, and (B) do not know the power of an aware mind. I saw myself asking what does the Nigerian mind run on, and as a cautious optimist on the Nigerian project, what is the unseen, as we head towards 2023, what does our mind hold, if Nigeria was a puzzle, is there a missing piece, or it is a jigsaw all completely gone wrong, a nation of people just running “kitikiti and katakata”? So, let me share this, in Feb 2019 Egypt’s transport minister resigned following a deadly train crash in Cairo that killed at least 25, leaving scores injured. In India, the administrative head of the nation’s railways, AK Mittal, resigned in Aug 2017 after two WUDLQ GHUDLOPHQWV LQ ÀYH GD\V LQ WKH QRUWKHUQ VWDWH RI 8WWDU LW ZDV QRW WKH ÀUVW WLPH sometime in 1999, there was a resignation too. David Cameron resigned in June 2016 after the UK votes to leave the European Union. The then PM announced resignation following victory for leave supporters after a divisive referendum campaign, bringing an abrupt end to his six-year premiership, after the British public took the momentous decision to reject his entreaties and turn their back on the European Union. Same David Cameron resigned as FKDLUPDQ RI WKH DGYLVRU\ ERDUG WR WKH $ÀQLWL software company after its founder was accused of sexual harassment and assault in November 2021. In Nigeria, there are no boundaries, there are no limits, our mind is not aware! The question then, is in Usar’s words succinctly shaping reality…as we move along, nothing is new, when one listens, we hear a cacophony of noise, the thoughts are scary. The glasses are stained, visuals blurred, and perception is vague, for a nation and people that cannot agree on one thing. Leaders that DUH VWLͿ QHFNHG IROORZHUV WKDW DUH JXLGHG by primordial sentiments. We do not resign, because there is no remorse. No one holds up to his responsibility. When I look at the debate on where the next President should come from, I borrow copiously from Usar’s word of caution WKDW D PDS LV QRW WKH WHUULWRU\ RXU GL΀FXOW GLͿHUHQFHV DQG WKH RGGV DPRQJVW PDQ\ other factors, has left us a nation where her people cannot simply deal with the hard

truths. The story told by Usar in chronicles of a barracks boy before he embarks on discussing language can be best understood when we look at the recent brouhaha between Apostle Sulieman, and Pastor Bakare’s attacks on the Igbo nation and the reactions all in the battle towards 2023. It is obvious that this nation is not ready for a mental repatterning when one watches and listens to the UHWLQXH RI WKRVH VHHNLQJ SROLWLFDO R΀FHV A nation and people trapped in a whirlwind of nothingness, and the in-between atmosphere is why the government is battling to explain pardon that it granted within the limits of constitutional power but one that has ULSSOH HͿHFWV The Nigerian project lacks the essentials of teamwork that Usar alludes to. The Chrisland Sex-tape makes the last part of the book a treasure. I asked myself, how are we measuring on the scale of integrity? Where is the vulnerability in parenting? Is this the generation of going through the motions, where most decisions are taken with the fear of missing out, in other words, rather than get it right, we probably are tripping on a pedestal? Innocent, a master practitioner of Neuro Linguistic Programming certainly knows that if we use his Epic Outcomes 0DWUL[ WKHUH LV D KXJH GLͿHUHQFH LQ political rhetoric and realities, we are again on the one-chance journey, the country called Nigeria is at another stage. Are we building rafts to get us pass this level or is it a case of a people that are consistently and consciously destroying all that we stand for? What do we stand for, who are we, what really is working in Nigeria? We are tortured with banditry, terror, and abductions, killings by unknown gunmen, every section of the country LV WHUULÀHG DQG RXU HFRQRP\ LV RQ D nosedive, but no one is bold enough to say that a nation that should ordinarily be creating epic outcomes across the globe is a minnow, beset in all corners? The book Pushing Through Boundaries is one that every Nigerian leader should read, every citizen must read, with a pen by his/her side taking notes. Sadly, what is it that we say again, “that to hide information from the black man, put it in a book”. We are losing it, there is need for the many Usars of this nation to stand and be counted, very few things put a smile on the face of Nigerians these day, but with Innocent Usar’s book, I again see the resilience, the Nigerian never-saydie spirit, we may still be able to snatch victory from the jaws of defeat because as it currently stands, the story of the barracks boy seems a story told once upon a time in Niagara Falls. I am afraid that we didn’t start well, can we end well? --

Dr. Dickson is a researcher, teacher and media practitioner

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T H I S D AY MONDAY APRIL 22, 2022

The federal government must hold oil prospecting companies accountable for their misdeeds, writes JEROME-MARIO CHIJIOKE UTOMI

KENE OBIEZU urges the authorities to listen to Kukah as the administration is increasingly losing grips

MATTHEW KUKAH: NIGERIA’S AUTHENTIC VOICE There are in Nigeria men and women who have walked with the country on some of its EXPSLHVW URDGV RͿHULQJ VKRXOGHUV WR OHDQ on, helping hands with the banana peels that line the country`s road and raising a rebuke each time the enemies of the country sung a bit too loudly. These men and women who have witnessed it all, embracing Nigeria`s nakedness, numbness and nausea in its most GL΀FXOW PRPHQWV KDYH D ULJKW WR EH KHDUG

ÀUVW DQG WKH ULJKW RI ÀUVW UHIXVDO WR VSHDN LQ Nigeria`s commentariat of nationhood. These men and women, silent witnesses to the unfolding of the Nigerian drama and melodrama in the theatre of national trauma and tragedy have today earned themselves the right to hold the hands of an ailing country as it gasps for air on its sick bed. This right inheres in these men not by appointment but as one of the blessings of a bond forged in the ÀUH RI DGYHUVLW\ 6XFK PHQ DOVR GHVHUYH WKH ULJKW WR EH FRQVXOWHG ÀUVW RQ LVVXHV WKDW VWULNH DW WKH KHDUW RI 1LJHULD %HFDXVH WKH\ NQRZ WRR much to know not to leave Nigeria in knots, there is a level to the conversation on Nigeria where they live and to which the lounge of OL]DUGV ZKLFK OLWWHU WKH FRUULGRUV RI SRZHU cannot ascend to no matter how skilled they are as climbers or how well they try. 7KH &DWKROLF %LVKRS RI 6RNRWR 'LRFHVH 0DWWKHZ +DVVDQ .XNDK LV RQH RI WKH men who has seen Nigeria in her pangs as ZHOO DV LQ SXOFKULWXGH %HWZHHQ DQG 2001 he served as a member of the Human 5LJKWV 9LRODWLRQV ,QYHVWLJDWLRQ &RPPLVVLRQ of Nigeria set up by the government of Mr. Olusegun Obasanjo and also known DV WKH 2SXWD SDQHO ,Q KH VHUYHG DV WKH 6HFUHWDU\ RI WKH 1DWLRQDO 3ROLWLFDO 5HIRUP &RQIHUHQFH DQG IURP RQZDUGV DV WKH FKDLUPDQ RI WKH 2JRQL 6KHOO 5HFRQFLOLDWLRQ %HWZHHQ DQG KH worked in the committee for electoral reform set up by the Nigerian government. The celebrated priest is one of the most authentic voices on the Nigerian predicament. To hear him speak is to hear an DXWKHQWLF DFFRXQW RI WKDW ZKLFK DLOV WKH *LDQW

of Africa, warts and all. Whenever he speaks about Nigeria, it is from a place of reason and UHÁHFWLRQ ZLWK WKH FRUXVFDWLQJ FODULW\ RI KLV words always giving him away as both an intellectual and moral giant. ,Q IURWKLQJ DW WKH PRXWK IURP \HDUV RI PLVUXOH E\ WKH 3HRSOHV 'HPRFUDWLF 3DUW\ and its congregation of crocodiles, Nigerians stood at the ballot box to rescue the country from the ruthless colony of weasels that had WDNHQ RYHU WKH FRUULGRUV RI SRZHU ,Q KLVWRULF votes which stunned hubris and hoisted 1LJHULD RQWR WKH KLOOV RI KLVWRU\ WKH 3HRSOHV 'HPRFUDWLF 3DUW\ ZDV UHVRXQGLQJO\ UHMHFWHG DW WKH SROOV DV IRU WKH ÀUVW WLPH LQ WKH KLVWRU\ RI the country, Nigerians shunned the advances of an incumbent president to pitch their tents with an opposition candidate. That opposition FDQGLGDWH ZDV 0U 0XKDPPDGX %XKDUL RI WKH $OO 3URJUHVVLYHV &RQJUHVV His forceful promises had easily bought RYHU D WLUHG FRXQWU\ ZKRVH FLWL]HQV ZHUH KRUULÀHG E\ WKH GHJUHH RI QRQFKDODQFH ZLWK which their mandate was being treated in the corridors of power. Nigerian minds were made XS ZKHQ 3UHVLGHQW %XKDUL SOHGJHG WR PDNH ÀJKWLQJ FRUUXSWLRQ 1LJHULDCV FDQNHUZRUP of great notoriety, one of the planks of his administration. However, it is written in the stars of the DͿDLUV RI PHQ WKDW VRPHWLPHV UHDOLW\ FDQ GLͿHU VR PXFK IURP UHDVRQ DV WR DWWUDFW UXHIXO recriminations. This has been the story of Nigerians with a presidency and a president that have since cascaded into a choir of charlatans and clowns whose pugnacity makes its members so pointless and its every sound so jarring. 5HY 0DWWKHZ +DVVDQ .XNDK KDV D JLIW RI measuring time and words, and whenever he chooses, or is led to choose, the clergyman picks his spot perfectly, and unerringly spears a reactionary presidency into stunned reaction. This stunned response such as the one that KDV IROORZHG 5HY .XNDKCV (DVWHU 6XQGD\ PHVVDJH RI $SULO KDV DOZD\V FRPH IURP HLWKHU 0U )HPL $GHVLQD WKH 6SHFLDO $GYLVHU 0HGLD DQG 3XEOLFLW\ WR WKH 3UHVLGHQW RU IURP 0U *DUED 6KHKX WKH 6HQLRU 6SHFLDO $VVLVWDQW 0HGLD DQG 3XEOLFLW\ WR WKH 3UHVLGHQW ,Q D GR QRWKLQJ DGPLQLVWUDWLRQ WKH SRVLWLRQV RI 0HVVUV $GHVLQD DQG 0U 6KHKX two of Nigeria`s most reputable journalists, are not exactly enviable as they have all but shed whatever little credibility, they had in seven years of defending an indefensible administration. ,I 1LJHULD LV ZKHUH LW LV WRGD\ LW LV EHFDXVH many of those who should speak up have instead chosen to recoil into the shell of silence. The more crooked have made themselves into emergency defenders of a government that appears irredeemably lost with the passing of each day. These people take up the cudgels against whoever raises concerns about the direction the country is heading and are quick to take potshots at whoever it is that draws their ire. How Nigerians wish that the presidential spokesmen usually so eager to defend the LQGHIHQVLEOH ZLOO WDNH %LVKRS .XNDK XS RQ KLV RͿHU RI D GHEDWH VR WKDW RQH RI 1LJHULDCV foremost orators will use the opportunity to cut them and their bedecked illusions to ribbons. May that day speedily come when only UHDVRQ DQG UHÁHFWLRQ ZLOO UXOH WKH URRVW LQ Nigeria. keneobiezu@gmail.com

THE BENIKRUKRU POLLUTION CHALLENGE On Friday April 22, 2022, the world celebrated the Earth Day, an annual event by the United Nations to among other things demonstrate support for environmental protection, remind humanity that the Earth and its ecosystems provide us with life and sustenance, that the healthier our ecosystems are, the healthier the planet – and its people. And most importantly, reminds all that restoring our damaged ecosystems will help to end poverty, combat climate change and prevent mass extinction, but we will only succeed if everyone plays a part. The R΀FLDO WKHPH IRU LV ´,QYHVW ,Q 2XU 3ODQHW µ First held on April 22, 1970, and includes a wide range of events coordinated globally, Earth 'D\ ZDV ÀUVW REVHUYHG LQ WKH 8QLWHG 6WDWHV ZKHQ some 20 million people took to the streets to SURWHVW DJDLQVW WKH 6DQWD %DUEDUD RLO VSLOO 6LQFH WKHQ WKH RFFDVLRQ KDV SOD\HG DQ LPSRUWDQW role in raising awareness on other environmental LVVXHV ,Q IDFW WKH ODQGPDUN 3DULV $JUHHPHQW which was signed by nearly 200 countries to set a common target to reduce global greenhouse emissions, was signed on Earth Day in 2016. ,QGHHG WKLV SLHFH XQGHUVWDQGV WKH ZRUGV DQG position of this world body (United Nation). Their resolve to create a livable world appears as a great message of hope for our environment. %XW DW DERXW WKH VDPH WLPH LW LQYLWHV VRPH PD]H of high voltage confusion. Essentially, this feeling of confusion naturally FRPHV ÁRRGLQJ ZKHQ RQH UHÁHFWV RQ WKH environmental challenge in the Niger Delta region, a region according to latest data from WKH 1DWLRQDO 2LO 6SLOO 'HWHFWLRQ DQG 5HVSRQVH $JHQF\ 126'5$ WKDW UHFRUGHG D WRWDO RI FDVHV RI RLO VSLOO DPRXQWLQJ WR EDUUHOV RI RLO IURP WR 7KH UHSRUWHG ÀJXUH RI RLO VSLOO FDVHV LV HTXLYDOHQW WR PLOOLRQ OLWUHV RI crude loss, representing an average of about 62 FDVHV DQG EDUUHOV RI RLO VSLOOV LQ D PRQWK SHU GDWD IURP 126'5$·V VDWHOOLWH ZHEVLWH RQ $SULO 16. Oil spillage as we know is the release of a liquid petroleum hydrocarbon or distilled products into the environment, especially the marine ecosystem. A typical example of such ordeal is WKH ODUJH VFDOH RLO VSLOO DW %HQLNUXNUX FRPPXQLW\ :DUUL 6RXWK /RFDO *RYHUQPHQW $UHD RI 'HOWD 6WDWH LQ WKH HDUO\ KRXUV RI )HEUXDU\ IURP one of the major facilities of a multinational oil company operating in the community, resulting in deadly pollution, environmental degradation, DQG GLVUXSWLRQ RI ERWK ÀVKLQJ DQG IDUPLQJ activities in the community and adjourning villages. Qualifying this occurrence as a reality to worry about is the awareness that despite the excruciating pains that stemmed from the ugly development, the oil prospecting/production RXWÀW KDV QHLWKHU SURYLGHG UHOLHI PDWHULDOV WR WKH DͿHFWHG LQGLYLGXDOV QRU VKRZQ UHPRUVH IRU their failings and failures or deemed it necessary WR WDNH DFWLYH VWHS WR FOHDQ XS WKH DͿHFWHG DUHDV through environmental remediation. The community in a recent statement lamented that they expected the oil giant to come up with D FRQFHSWXDOL]HG UHPHGLDWLRQ SODQ DQG SURSRVDO IRU FRPSHQVDWLRQ RI DͿHFWHG LQGLYLGXDOV DQG FRPPXQLWLHV %XW FRQWUDU\ WR WKDW H[SHFWDWLRQ the oil company persistently, via series of statements/releases lied and absolved itself of any wrongdoing-stating that the said spillage neither emanated from nor had anything to do with their facilities. This high level of crass corporate irresponsibility, the community added, continued XQWLO D -RLQW ,QYHVWLJDWLRQ -,9 ZDV RQ $SULO QG and 10th, 2022, carried out. The result established EH\RQG UHDVRQDEOH GRXEW WKDW WKH RLO FRPSDQ\·V facility installed in the year 1972, has recorded what the report described as two pin holes

through which the crude oil was emptied into rivers and devastated the environment. 7KH -,9 WHDP DFFRUGLQJ WR WKH UHSRUW LQFOXGHG EXW QRW OLPLWHG WR VWDͿ RI WKH PXOWLQDWLRQDO RLO company, representatives from the National Oil 'HWHFWLYH $QG 5HVSRQVH $JHQF\ 126'5$ VWDͿ RI WKH 1LJHULDQ 8SVWUHDP 5HJXODWRU\ Commission of Ministry of Environment, 'HOWD 6WDWH &RPPLVVLRQHU IRU 2LO DQG *DV 'HOWD 6WDWH DQG UHSUHVHQWDWLYHV RI DͿHFWHG FRPPXQLWLHV LQ *EDUDPDWX .LQJGRP +RZHYHU HYHQ DV WKH -,9 UHSRUW HQGHG WKH FRPSDQ\·V VHDVRQ RI OLHV DQG HVWDEOLVKHG LWV culpability, the oil giant which prides itself as one RI WKH EHVW RUJDQL]DWLRQV LQ WKH FRXQWU\ ZKHQ LW FRPHV WR &RUSRUDWH 6RFLDO 5HVSRQVLELOLW\ &65 has not bothered to provide the community with relief materials. And the world which KDV EHQHÀWWHG IURP WKHLU *RG JLYHQ QDWXUDO resource especially the federal government of Nigeria have looked on while the people of the FRPPXQLW\ VXͿHU KDUGVKLS $V LW VWDQGV %HQLNUXNUX DQG RI FRXUVH Niger Delta region will continue to face such challenges as there is no end in sight to oil spillage and environmental pollution in the region. There are reasons that support this assertion. First is the frequency of spillage that occurs in WKH UHJLRQ $FFRUGLQJ WR 126'5$ ODWHVW UHSRUW oil spill incidents occurred 921 times in 2015, UHVXOWLQJ LQ D ORVV RI EDUUHOV RI RLO WKH KLJKHVW ZLWKLQ WKH SHULRG XQGHU UHYLHZ ,Q FDVHV RI RLO VSLOOV RFFXUUHG FXOPLQDWLQJ LQ D YROXPH RI EDUUHOV RI RLO ,Q DQG DQG FDVHV RI RLO VSLOOV RFFXUUHG DQG UHVXOWHG LQ WKH VSLOODJH RI DQG barrels of oil, respectively. Oil spills occurred on RFFDVLRQV VSHZLQJ EDUUHOV RI RLO LQ DQG FDVHV ZHUH UHFRUGHG LQ ZLWK EDUUHOV RI RLO ,Q FRPSDQLHV UHSRUWHG LQFLGHQWV UHVXOWLQJ LQ EDUUHOV RI RLO The second reason has to do with weak/ SRRU UHJXODWLRQV PRQLWRULQJ ,Q 1LJHULD WKHUH are laid down principles guiding the handling of oil spills. For instance, oil spills should be FORVHG RͿ ZLWKLQ KRXUV %XW QR RSHUDWRU FDQ claim a clean hand when it comes to obeying such law in Nigeria and the regulatory agencies have never bothered to hold them accountable for such failures. $JDLQ DFFRUGLQJ WR 126'5$ RLO FRPSDQLHV are required to fund the clean-up of each spill and pay compensation to local communities DͿHFWHG LI WKH LQFLGHQW ZDV WKH FRPSDQ\·V fault. Yet, there exists no appreciable instance where such obligations to host communities has been obeyed. 7KLUGO\ LV WKH JRYHUQPHQW·V DWWLWXGH RI OLVWHQLQJ ZLWKRXW EHLQJ DWWHQWLYH WR WKH KD]DUGV (both health and environmental) caused by crude oil exploration and production. This FKDOOHQJH LV IXUWKHU IHG E\ )*·V HUURQHRXV EHOLHI that so far the eggs are secured, the condition of the goose that laid the eggs becomes secondary. Thus, aside from enforcing this directive ZKLFK VD\V WKDW RLO VSLOOV VKRXOG EH FORVHG RͿ ZLWKLQ KRXUV WKLV SLHFH KROGV WKH RSLQLRQ that for the nation to enthrone a new order within the sector, the federal government must LQWHUYHQH DQG DGGUHVV %HQLNUXNUX FRPPXQLW\ pollution challenge. Demonstration of such DWWLWXGH ZLOO QRW RQO\ EH FKDUDFWHUL]HG DV rewarding to the community, but illustrates )*·V QHZ IRXQG FDSDFLW\ WR KROG RLO FRPSDQLHV in Nigeria accountable for their misdeeds.

Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy, Lagos

4 30

T H I S D AY

MONDAY APRIL 26, 2022

EDITORIAL

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

ENDLESS COLLAPSE OF POWER GRID There are serious systemic issues across the power value chain that need to be addressed

ecent disruptions of the transmission line between Akwa Ibom and Cross River States which caused the collapse of the national power grid twice within four hours have been blamed on vandals. Beyond the fact that the country has experienced grid failure several times this year, the vandalism of the power lines was simply adding salt to open wounds. Hardly a week passes without either of the 26 electricity generation companies (Gencos), the 11 distribution companies (Discos) and the statecontrolled transmission company (TCN) trading blame. Nine years after privatisation of the power sector, majority of Nigerians have come to the inescapable conclusion that the process through which countries like India, Singapore and a host of other contemporary emerging economies successfully used to reset their electric power challenge is proving WRR GL΀FXOW WR EH DSSOLHG HͿHFWLYHO\ RQ RXU VKRUHV Instead of generating, transmitting, and distributing enough megawatts of electricity to homes and industries across the country, what we get almost daily are excuses from the authorities. Whatever may be the excuses, it is also true that other stakeholders in the power sector, including—if not especially—the federal government, have contributed to the challenge of electricity supply in Nigeria. For LQVWDQFH WKH JRYHUQPHQW KDV IUHTXHQWO\ ÀGGOHG ZLWK WKH VWDWXWRU\ H[HUFLVH RI DOORZLQJ IRU D FRVW UHÁHFWLYH WDULͿ IRU WKH PDUNHW WR HQFRXUDJH IXUWKHU LQYHVWPHQWV and growth. There are serious systemic issues across the power value chain that need a holistic approach to resolve. Before now, the common excuse for grid collapse was always that the transmission lines could not wheel the power so generated by the generating companies (Gencos). The recent one was however attributed to vandalism of some transmission infrastructure. Till

WRGD\ WKH 'LVFRV ZKR ZHUH WKH EHQHÀFLDULHV RI WKH shambolic power sector reforms have all failed to invest in modernising and expanding the transmission lines. But that is not to suggest that the Gencos have fared better either. Many of the sector players are RZHG VLJQLÀFDQW GHEWV WKDW UHDOO\ QHHG JRYHUQPHQW intervention if there is to be a practical resolution. In terms of moving forward, a lot of heads needs to come out of the sand so that commercially sound solutions can be implemented. To address the challenge of the sector would require a holistic reform. There are more fundamental issues to address, including range of perverse incentives within the system and weakness of regulation. The grid is the weakest link but is also a vital link between generation and distribution. We have capacity to generate about 12,500 MW but the grid cannot take more than 5000 MW. There are some things being done on generation and transmission like Mambilla and Zungeru, and the work that Siemens is doing with Transmission Company of Nigeria (TCN). In a report published last year, the World Bank rated Nigeria as the poorest country in the world on power supply to citizens with 85 million people not connected to the grid and a loss of $26 billion annually. With everybody supplying their own electricity, Nigeria is one of the toughest places in the world to do business. Lack of electricity has limited access to healthcare, education, and other opportunities, including running their businesses for majority of Nigerians. Many small and medium scale businesses have been crippled due to the prohibitive cost of generating their own power. Even the big business ventures, particularly the PDQXIDFWXULQJ RQHV DUH DOVR IHHOLQJ WKH ELWLQJ HͿHFW of energy poverty with consequences stretching to every part of the economy. We cannot grow our economy without sorting out this critical infrastructure. And all options should be on the table.

The World Bank rated Nigeria as the poorest country in the world on power supply to citizens with 85 million people not connected to the grid and a loss of $26 billion annually

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 MAMBILA PROJECT: ANOTHER FAILED PROMISE? The importance of the Mambila hydro project both in short term and long term cannot be over emphasized especially during tough economic times locally, regionally and globally. The President Muhammadu Buhari and APC led government have often bragged about their strength and progress made in the area of infrastructure ZLWK YHU\ OLWWOH UHVRXUFHV :LWK VR PXFK SURPLVHV DQG OHJDO DQG ÀQDQFLDO VHWWOHPHQW agreement towards the commencement of this project, till date nothing tangible can be said to be going on with less than 400 days to the end of the administration. Having signed a productive contract-deal with the Chinese, the government has not met all its contractual obligations. Basic administrative bottlenecks to ensure effective supervision and monitoring of the project and strict adherence to the delivery timelines still resurrect as major hindrances to a project which guarantees 50,000 skilled jobs, 3,050 MGWs of hydro-powered electricity, short and long term economic spill over in the north east region and for the collective growth of the nation. The President, Ministers of Justice, and of Power, and the National Assembly should unGHUWDNH HͿHFWLYH RYHUVLJKW WR DFKLHYH GHOLYHU\ RI WKLV SURMHFW DQG HQG 1LJHULD·V SRZHU GHÀFLW DJRQ\ Hydropower is predicted by the International Energy Administration to become WKH ´GRPLQDQW VRXUFH RI ÁH[LEOH HOHFWULFLW\ E\ µ :LWK LWV PDQ\ ULYHUV WKH ,Qternational Renewable Energy Association recommends that Nigeria invests right to

become a major exporter of electricity in West and Central Africa. Angola is gaining a head start with over 3,000MW in hydropower installed. Getting the concessions right for the Gurara, Tiga, Oyan, Challawa dams will be crucial. Meanwhile, the World Bank calculates that the country loses $28 billion or 2.0 per cent of its GDP annually due to power shortages. Currently, the total national installed power generating capacity is 12,522MW with just over 6,000MW output realisable; only an average of 0: LV VXSSOLHG WR $IULFD·V ODUJHVW HFRQRP\ DQG SRSXODWLRQ 2I WKH WRWDO RQO\ 2,062MW is hydropower, coming mainly from Jebba, Shiroro and Kainji. 1LJHULD KDV WKH ZRUOG·V ODUJHVW DFFHVV WR HOHFWULFLW\ GHÀFLW GHVSLWH WULOOLRQV RI QDLUD and billions of dollar debts piled up for coming generations. Wisdom demands that FRPSHWHQW SULYDWH VHFWRU LQYHVWPHQW VKRXOG WDNH WKH OHDG LQ FORVLQJ WKH GHÀFLW 7KH JRYHUQPHQW VKRXOG WKHUHIRUH RSHQ XS WKH VHFWRU ÀQH WXQH WKH (OHFWULFLW\ 3RZHU 6HFtor Reform Act to attract global private power sector giants to invest in renewable HQHUJ\ OLNH K\GUR VRODU ZLQG DQG ZDVWH :LOO 3UHVLGHQW 0XKDPPDGX %XKDUL IXOÀOO his promise to the north-east and Nigeria in yet another milestone infrastructural project or will the Mambila hydro go down as another white elephant? Ibrahim Mustapha, Pambegua, Kaduna State

ZENITH BANK: WE NEED YOUR SERVICES We the customers of your bank and residents of Aniocha South Local Government Area of Delta State have waited in vain for your operations in 2JZDVKL 8NZX WR WDNH RͿ 2SHQLQJ a branch in Ogwashi-Ukwu would go a long way in reducing the stress we go through as we have to travel to Asaba to resolve one problem or the other. There are many potential customers waiting to open account with Zenith Bank. We want to start making use of your services. Feyisetan Akeeb Kareem, karfeyio@gmail.com

T H I S D AY ˾ MONDAY, APRIL 25, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

A P R I L

S & P INDEX

2 2 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

6.50%

CALL

10.75%

INDEX LEVEL

610.44%

1/4 TO DATE

– 1.31%

N416.75/ 1 US DOLLAR*

OVERNIGHT

7.17%

1-MONTH

9.66%

1-DAY

0.03%

YEAR TO DATE

7.13%

*AS AT LAST FRIDAY

3-MONTH

1028%

MONTH-TO-DATE

– 1.31%

10 Banks Interest Income Up 19.4% on High-yield Environment, Loans & Advances

Kayode Tokede Following increased lending to corporates, individuals and highyield environment, a total of 10 commercial banks reported a 19.4 per cent increase on interest income generated from loans & advances to customers in 2021. Analysis of the banks audited report for period ended December 32, 2021 indicated that the 10 banks generated N1.99 trillion interest income from loans & advances in 2021 as against N1.66 trillion reported in 2020. The banks are: Access Bank Plc, Guaranty Trust Holdings Company (GTCO) Plc, United Bank for Africa

(UBA) Plc, Zenith Bank Plc, Fidelity Bank Plc and Sterling Bank Plc. Others include: FCMB Group Plc, Stanbic IBTC Holdings Plc, Union Bank of Nigeria and Ecobank Transnational Incorporated (ETI). In the last few years, stronger banks in Nigeria with increasing loans and advances to customers are reaping interest income from lending to corporate and individuals. For instance, Access Bank in its 2021 audited report generated N370.82 billion as interest income from loans, an increase of 19.80 per cent from N309.5 billion in 2020, while UBA’s interest income from loans to customers increased by 11.93 per cent to N251.9billion in

2021 from N225.04 billion reported in 2020. Also, Zenith Bank grew its interest income on loans to customers to N292.2 billion in 2021 from N250.8 billion in 2020, while GTCO’s interest income from loans to customers closed 2021 financial year at N194.3 billion, an increase of 5.48 per cent from N184.18 billion in 2020. This is coming amid the Central Bank of Nigeria (CBN) retaining its Monetary Policy Rate (MPR) at 11.5 per cent in 2021. As gathered by THISDAY, average prime lending and max lending rates was at 11.48 per cent and 28,06 per cent in 2021, respectively. Data by the CBN, on banks’

lending interest rates showed a 0.72 percentage points decline in the maximum lending rate to 27.58 per cent in December from 28.3 January 2021. On the contrarily, the average prime lending rate rose by 0.43 percentage points to 11.68 per cent in December from 11.25 per cent in January 2021. According to report, banks in 2021 were charging an average interest rate of between four per cent and 36 per cent on loans given to customers in various sectors of the economy, especially agriculture and forestry, manufacturing and education. This represents -7.5 percentage

point lower and 24.50 basis point higher than 11.50 per cent of the MPR. According to the Banking System Stability Review Report (BSSRR), presented by CBN, the operating cost to income ratio of banks rose to 73.1 per cent in 2021 from 68.2 per cent in 2020, driven by the impact of rising inflation and higher AMCON charge. A breakdown of the commercial banks’ lending rates as published by the CBN in 2021 shows two different classes of loan pricing, which are prime lending rates, charged credit worthy customers and maximum lending rates, charged perceived risky customers.

Applicable rates for each of the commercial banks as of April 9, 2021, showed that Stanbic IBTC Bank charged the lowest rate on loans at four per cent, followed by GTCO at 5 per cent. Fidelity Bank charged six per cent, UBA seven per cent and Wema Bank nine per cent. The banks that charge higher in the prime-lending category include ETI, 23 per cent and UBA, 20 per cent. Analysts have expressed that commercial banks might review lending rate, which some have adopted lending to a single interest Continued on page 34

AfDB Earmarks $1.5bn to Avert Food Crisis in Africa Gilbert Ekugbe The African Development Bank (AfDB) has announced plans to spend over $1.5 billion dollars to avert food crisis sparked by the war in Ukraine. The AfDB Acting Chief Economist and Vice President Professor Kevin Urama, who spoke during a virtual

meeting convened to brief journalists about the agenda of the five-day meetings, to be held from 23 to 27 May 2022 in Accra, Ghana, said the $1.5 billion food plan would address immediate needs triggered by the ongoing conflict in Europe, noting that the plan will support farmers with seeds and fertilizers in the next wet season which starts

around October in the southern hemisphere. He added that the Bank also has a medium- to longer-term plan to help countries build resilience, known as Mission 1 for 200, which will help farmers boost production to 100 million tonnes of food to reach 200 million people. According to Urama, resilience

was all encompassing, maintaining that the Bank will be focusing a lot more on infrastructure investments to build the resilience of countries, social resilience, economic resilience and also environmental resilience in general, including climate resilience. He however emphasised the bank’s role as a thought leader in Africa, saying the meetings would

include three main knowledge events that would touch on topics such as building a digital economy, green jobs for youth and a special session on climate change that would include the launch of the African Development Bank’s African Economic Outlook for 2022 report. On his part, the Vice-president for Power, Energy, Climate and

Green Growth, AfDB, Dr Kevin Kariuki, noted that the multilateral was no longer investing in new coal projects. “However, when it comes to gas, we do understand that Africa needs to address its energy poverty and in order to look at energy poverty, Continued on page 34

M A R K E T D ATA A S AT F R I D AY, A P R I L 2 2 , 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

Price

Yield

106.42 6.12 111.52 7.54 110.84 9.20 105.46 10.68 120.08 10.89

Change Updated Time (%) April 22, 1.15 2022 April 22, 0.05 2022 April 08, 0.00 2022 April 08, 0.00 2022 April 08, 0.31 2022

Discount

NTB 12May-22 NTB 9-Jun22 NTB 14-Jul22 NTB 11Aug-22

289,00 289,00 0.00

April 22, 2022

304,00 305,00 0.00

April 22, 2022

323,00 325,00 0.00

April 22, 2022

350,00 354,00 0.00

April 22, 2022

NTB 8-Sep22

348,00 353,00 -0.08

April 22, 2022

Yield

OTC F X F U T U R E S

C Ps

MATURITY

Change Updated Time (%)

MATURITY

Discount Yield

Change Updated Time (%)

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

8.62

8.64

0.00

April 22, 2022

16.44

16.68 0.00

April 22, 2022

8.56

8.63

0.08

April 22, 2022

11.51

11.86 0.30

April 22, 2022

8.12

8.30

April 22, 2022

–0.01

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

Current Rate ($/₦)

Updated Time

427.24

April 22, 2022

428.93

April 22, 2022

430.63

April 22, 2022

432.32

April 22, 2022

434.02

April 22, 2022

MONDAY, APRIL 25, 2022 ˾ T H I S D AY

BUSINESSWORLD

ECONOMY

Nigerian Textile: Story of Once Towering Industrial Sector This year marks the 65th anniversary of the establishment of modern textile industry in Nigeria. Dike Onwuamaeze writes on the ups and downs witnessed in the industry

he Late Sarduana of Sokoto and former Premier of Northern Nigeria, Alhaji Sir Ahmadu Bello, established the Kaduna Textile Industry in 1957. It was the first modern textile industry in Nigeria. The establishment of the textile factory was inspired by his visit to Egypt, which opened his eyes to the positive impacts textile sector could have in the economic development of his region and Nigeria in general. Soon after the commencement of the Kaduna factory, the example was replicated in all the regions in the country, especially the Eastern and Western Regions, resulting in tremendous growth in the industry. The success was so outstanding that in the 1970s and 1980s the textile industry became the highest employer of labour in the country after the federal government. There were 167 textile mills in the country by 1980s that provided 500,000 direct employments. But 65 years down the line, the fortunes of the once flourishing industrial sector have tumbled and reduced the sector to the unenviable status of the weakest segment of Nigerian industrial sector. Today, the number has dwindled to about 24 with less than 20,000 workforces. There are also no new investments in the sector for over a decade now. Nigeria is currently a net importer of textile products and relying on importation to meet over 99 per cent of its domestic needs. The decline is so much that if the late Sarduana should come out from his grave, he would probably ask: do this people know that they needed clothing materials to cover their nakedness?

COUNTERFEITING OF TEXTILE FABRICS The Director General of the Nigerian Textile Manufacturers Association (NTMA), Mr. Hamman Kwajafa, attributed the decline to outright counterfeiting of textile fabrics that were produced in Nigeria, Nigeria’s porous borders that allowed massive smuggling of textile materials to thrive and Nigerians taste for foreign textiles. To checkmate the importation and curb citizens’ taste for foreign products, the federal government banned the importation of textiles into the country in the 1990s and later lifted the ban after few years to “promote competition.” Kwajafa told THISDAY that, “what brought about all this was the fact that smugglers came in. Some out rightly counterfeited our products and have them cyclostyled in China and smuggled back to Nigeria in millions of meters and sell them at prices that are cheaper than our local products. You can get five yards of these smuggled fabrics at N1,000 in our markets. No Nigerian textile mill can produce at that price. This led to people thinking that local products are inferior not knowing that they are buying counterfeited products. They couldn’t differentiate the locally

manufactured textile and the counterfeited ones. “Our problems also come from regulatory agencies. Goods come in easily through the borders because of the manual operations and nobody is questioning them.” He said that the textile industry has become the weeping boy of Nigerian industrial sector because, “we are not able to sell our products in Nigerian domestic market and we cannot also export. Most manufacturers have the intention of exporting their products but cannot do so because of high cost of production. Our overhead cost is very high. Because of this we cannot sell at the rate smugglers are selling. We cannot break even. It seems we are in charity business. But smugglers are coming in. They do not pay workers, taxes, power etc. That is why they can sell cheaper. But we bear these costs and still have problem with patronage.”

ARCHAIC, ANTIQUATED TECHNOLOGY However, a knowledgeable source in the sector told THISDAY that the major problem of the Nigerian industrial sector stemmed from the fact that the sector is still running on outdated, if not archaic and antiquated, technologies that were foisted from India and Indonesia by Indian businessmen that once dominated the industry. The source who spoke anonymously stated that the poor technological level in the sector is the major reason it could not produce materials that could compete with imported cloths. “The key thing is the technology they deployed to Nigeria that is very old and had been phased out in India and Indonesia. We do not have local tech to manufacture textiles. “Now it is required that some heavyweight investors like the Africa’s Richest Man, Mr. Aliko Dangote, should step in to recapitalise the sector and bring in modern technology needed to scale up the sector and return it to profitability. If we can produce the base material here in a quality that can compete, everyone will buy it and it will give opportunity for our fashion designers to thrive and schools to patronise them for uniforms. “It needs serious recapitalisation to bringing in modern technology. Though I saw modern ones coming up in Kano but it is for wool. They even have their own energy generation through gas but they are producing for export and not for Nigerian markets, ”he said. The source stated that the time is ripe for the government to view the state of the

textile industry as a matter of urgent national interest that warrants the declaration of a state of emergency. He said: “Any country that is as big as Nigeria that does not have its textile industry is not secured. What will happen if the country we depend on declares economic blockade on us, what happens? We will all be naked. “Our government needs to pay much attention to the textile sector but unfortunately government did not pay attention to the things that were going on in the textile industry.”

CBN INTERVENTION However, the President of NTMA, Mr. Folorunsho Daniyan, has debunked the claim that the sector is running on archaic technology even though he agreed that the sector is in a dire straight. He told THISDAY that the Central Bank of Nigeria’s interventions through the Bank of Industry have enabled existing operators in the industry to retool and upgrade their factories and textile mills. He said: “The future of the Nigerian textile industry depends on the will power of the government to protect it. The potentials are here.” This protection will require measures to checkmate smuggling and unwholesome trade practice that are rife in the country’s textile market, including product counterfeiting. THISDAY investigation revealed that many Nigerians are no longer conscious that there are operational textile mill in Nigeria. A Traditional Creative Textile Designer, Ms. Elizabeth Tayo Falodu, told THISDAY that she relied on imported materials for her local “adire” designs. She said: “There is no local manufacturer that deals in cotton fabric. I use 100 per cent cotton. What I understand is that our cotton is exported to China for processing and brought back to Nigeria as a fabric. That is what we buy to produce our textiles. Even the local manufacturers buy imported materials. The only thing the do is to print the fabric while we produce ours manually with our hands.” When THISDAY asked her if she is aware that textile manufacturing firms operate in Nigeria, her answer was: “No. I don’t. I will even want to have their contacts because it may be cheaper sourcing materials from them.” That is.

RISING FROM ASHES A Senior Lecturer in Industrial Design Department, School of Art, Design and Printing of Yaba College of Technology, Dr. Adeyemo Bolaji, shared his views on the state of textile industry in Nigeria with THISDAY. Bolaji believed that industry

would one day bounce back to its glorious years if the government should focus more on the industry and do more to salvage it. “My view about Nigeria textile industry is that it will still go back to its normal good days. But the situation we are in today is not palatable to anybody including the academia, the so called tailors and the industry. The technology the Chinese are bringing in is too advanced to be compared to Nigeria. Advanced technology has made Chinese one of the highest employer in the textile industry,” he said. He recalled that there used to be tax rebates and interest free loans to textile industry. “The last time I went to a certain textile mill, I was told that it spends billions of Naira on electricity alone and that it cannot compete with textile from China,” he said, adding that the government should reactivate the sector because of its potentials to provide jobs in the economy. Bolaji said: “It is a labour intensive industry. We are just talking about creating jobs for youths. But there is no way we can achieve this without reviving the textile industry. Even our graduates have nowhere to work. We are just preaching that they will be self-reliance without providing them with capital. “Where is the capital grant for these graduates to be able to work? It is a capital intensive industry. Before now we are buying woven material brocade for N3,000 it is now N9,000. And 99 per cent of brocade is coming from China. Before, it was produced in Nigeria, but high cost of production is major challenges that the textile industry is facing.” He underscored the strategic significance of textile industry thus: “If you do not eat nobody will know. But if you do not wear cloth everybody will say you are mad. You will not be eating and sitting in your house. You still need to look decent to go out and that is clothing. So, government is trying but it has to do more.” The federal government has said that it is aware of its responsibility to grow the textile industry again. The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, told THISDAY recently that the “we are working with the CBN to provide specific interventions such as machinery and equipment and have instituted a seedling program that will enable the provision of cotton seeds to farmers. We are also addressing competitiveness of the sector by working with the Honourable Minister of State for Petroleum Resources to reduce the cost of gas, which is a key cost component of the textile industry.” However, like the proverbial Oliver Twist, the operators of the textile industry are hoping that more would come from the government to rescue the industry.

T H I S D AY ˾ MONDAY, APRIL 25, 2022

BUSINESSWORLD

STATUS REPORT

Unilever: Weathering the Impact of Covid-19

Kayode Tokede

he financial year ended December 31, 2021 was a recovering year for Unilever Nigeria Plc as the global and domestic economy emerged from the Covid-19 pandemic. However, investors needed to be cautious buying into the company’s stock, mainly due to the increasing price competition in the Home and Personal Care (HPC) segments from its brands amid the tight consumer purchasing power. The company emerged from 2020 losses to impressive performance in 2021, driven by significant increase in revenue and dividend pay out to shareholders but cost of sales and operating expenses remained a threat, calling for caution. The Directors recommend to the shareholders the payment of a dividend in respect of the year ended 31 December 2021 of N2.87billion that is, 50 kobo gross per share. Unilever Nigeria grew its revenue by 35.07 per cent to N70.52 billion in 2021 from N52.21 billion in 2020, primarily driven by the company’s HPC that gained 47.1 per cent, while the Food segment dropped by 10.6 per cent. Suitably, the HPC segment in 2021 contributed 56 per cent to revenue from 43.6 per cent, while that of the food segment contributed 44 per cent from 56 per cent in 2020. Unilever with 93 distributors in 2021 as against 102 in 2020, the company reported a domestic revenue (within Nigeria) growth of 37.1 per cent to N69.8 billion in 2021 from N50.89 billion in 2020, while Export (outside Nigeria) revenue dropped by 42.7 per cent to N756.5 million from N1.32 billion reported in 2020. The company’s revenue growth was supported by higher volumes from its tier four products, launched in 2020, increased investment in its distribution network and marginal price increases in some products. In addition, increased credit sales to distributors as management loosened its tight credit policy might also support revenue growth.

IMPRESSIVE REVENUE GROWTH OFFSET COS The impressive revenue growth offset Cost of Sales (CoS) that grew by 22 per cent to N50.16 billion in 2021 from N41.14 billion in 2020 as raw materials and consumable contributed 50 per cent. The company grew its raw materials and consumable by 33 per cent to N37.97billion in 2021 from N28.53 billion in 2020. Unilever Nigeria’s high exposure to foreign exchange

risk remains a key downside risk as the company imports 50per cent of its raw materials into the country. Consequently, the proportion of CoS/ Revenue dropped from 78.8 per cent in 2020 to 71.13 per cent in 2021. The interplay between revenue and CoS lifted gross profit to N20.36 billion in 2021, an increase of 84 per cent from N11.07 billion reported in 2020. The growth in revenue and gross profit contributed to 28.9 per cent Gross margin in 2021 from 21.2 per cent in 2020. As regarding operating expenses, Unilever Nigeria reported a 39 per cent increase in selling & distribution expenses in 2021, while marketing and administrative expenses also grew significantly by 42 per cent. Selling & distribution expenses moved from N2.39billion in 2020 to N3.32 billion in 2021, while marketing & distribution expenses increased to N3.32 billion in 2021 from N2.39 billion in 2020. For the marketing & administrative expenses, brand and marketing reported in 2021 grew by 77 per cent to N4.82 billion from N2.73 billion in 2020, while overheads hits N8.44 billion in 2021 from N6.6 billion in 2020. Royalties and Service Fees also grew by 42 per cent to N1.87billion from N1.32 billion reported in 2020. Unilever Nigeria has Technology & Trademark agreements with Unilever UK Plc to manufacture, distribute and market its international brands. In consideration for this, a royalty of two per cent of net sales value and 0.5 per cent of net sales value is payable to Unilever Plc for technology and trademark licences respectively In line with the approval from the regulatory authority, National Office for Technology Acquisition and Promotion, the royalty payment for these agreements are capped at N3.47 billion and N 0.87 billion respectively per annum.

AGREEMENT WITH UNILEVER EUROPE Also, Unilever Nigeria has a central support and management services agreement with Unilever Europe Business Centre B.V (previously Unilever Plc) for the provision of corporate strategic direction, and expert advice/support on legal, tax, finance, human resources and information technology matters. In consideration of this, a fee of two per cent of profit before tax is payable as service fees In line with the approval from the

regulatory authority, National Office for Technology Acquisition and Promotion, the royalty payment for central support and management services is capped at N 0.11 billion per annum. From the profit0 & loss figures, Unilever Nigeria’s finance income, thus, dropped by 34 per cent to N1.03 billion in 2021 from N1.55 billion in 2020. The decline in finance income is due to net exchange gain on translation of foreign currency denominated balances to N436.6 million in 2021 from N1.34 billion in 2020. With finance income dropping, finance cost also dropped by 68per cent to N95.7 million in 2021 from N294.99 million in 2020. With the growth in revenue, the company closed 2021 financial year with profit before tax of N1.88billion from N4.54 billion loss before tax reported in 2020. Unilever Nigeria’s profit for the year migrated from a los of N3.97 billion to N3.41billion in 2021. Consequently, Earnings Per Share (EPS) turned positive at N0.59 (including gains from the tea business disposal) compared to the loss per share of N0.65 in 2020. Adjusting EPS for the disposal gains, EPS outturn was still positive, albeit lower at N0.12.

HIKE IN TRADE, OTHER PAYABLES As Unilever Nigeria grew total assets by 18.33 per cent to N108.3billion in 2021 from N91.52billion, as contribution from trade and other payables played a critical role. Although the company’s long-term assets dropped by 19per cent to N22.4 billion in 2021 from N27.54 billion in 2020, short-term assets grew by 34.27 per cent to N85.91 billion in 2021 from N63.98 billion in 2020. Trade and other receivables from short-term assets increased to N14.99 billion in 2021 from N12.96 billion in 2020. Unilever Nigeria disposed of its tea business to Unilever Tea MSO Nigeria Limited, a related party within the Unilever Group, for a considerable amount of N5.4 billion in 2021. The Unilever tea business was included in the discontinued operations segment of the financial statement, which revealed that the company had also disposed of property, plants and equipment as well as long service award obligations. Before the company’s business was discontinued in October 2021, it had a turnover of N9.05 billion from

January – to September 2021, a 7.17 per cent decline from what it generated in the corresponding period of 2020. However, the tea business moved from a loss position to rake in a profit of N2.72 billion in the nine-month period of 2021. Trade and other payables closed 2021 at N39.74 billion from N27.42 billion in 2020, to thrust current liabilities to N40.22 billion, an increase of 45 per cent from N27.8 billion reported in 2020. The company closed the 2021 financial year with long-term liabilities of N2.31 billion from N1.59 billion in 2020. In addition, total liabilities grew significantly, by 45per cent to N42.53 billion in 2021 from N29.39 billion in 2020. Subsequently, total equity gained nearly six per cent to N65.76 billion in 2021 from N62.13 billion in 2020.

ANALYSTS PREDICT POSITIVE EARNINGS According to analysts at Cordros securities, “Overall, we expect the company to maintain positive earnings in 2022E, underpinned mainly by double-digit topline growth. With a revised target price of N12.63, we retain our “HOLD” recommendation on the stock.” The company added that, “Volume-led growth to support sales in 2022E: For 2022E, we believe management’s strategy to focus on the mass mainstream segments by reinvesting heavily in its tier 3and 4 brands with lower prices bode well for volume expansion in the HPC segment. “Thus, we forecast revenue will grow by 6.3 per cent in 2022E. Further out, we estimate a revenue CAGR of 5.5 per cent over 2022 – 2026E. “Although management stated its intention to source raw materials locally to abate its FX losses, we do not expect a material impact on earnings in the near term. Thus, we model a 55basis points decline in the 2022E gross margin, reflecting the impact of elevated cost pressures. “Nonetheless, we forecast a 97 basis points increase in EBITDA margin to 7.6per cent, as we estimate a lower OPEX-to-sales ratio (2022E: 26.1per cent | 2021FY: 27.3per cent). Overall, we estimate that EPS will decrease by 55.5% y/y to N0.26 in 2022E. Adjusting 2021FY EPS for the disposal gains (EPS: NGN0.12), we estimate 2022E EPS will grow by 116.7per cent y/y.” On valuation, they noted that, “the net impact of our changes is an upward adjustment in our price target to N12.63 (previously: N12.52). Hence, we maintain our “HOLD” rating. On our estimates, Unilever trades at a 2022E P/E of 50.7x, a significant premium to the MEA peer average of 16.7x.”

MONDAY, APRIL 25, 2022 ˾ T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Fuss Over Koko’s London Mortgage Property: Nothing But Mere Muckraking Okey Nwanchukwu

ut of the blues, the acquisition of a mortgage-financed property in London by Mr Mohammed Bello Koko, the Managing Director of the Nigerian Port Authority (NPA) is in the news again for the umpteenth time, and no doubt, it smacks of mischief and knavery. One wonders why the author of the story decided to pick on Koko at this time for a re-launch of a failed vitriolic attack on his person. Since we are already in the period of politicking, the reason may not be far-fetched. It is to ostensibly settle political scores with Transportation Minister, Rotimi Amaechi, in the titanic struggle for power ahead of the 2023 polls. The property in question from my findings was acquired far back as 2014 and having read this story time and again, the latest is nothing but a recycled and resurrected story by muckrakers and smearers. To me, regenerating and reviving a stale

story published several times over and over again by an online news media is no doubt, a disservice to the noble profession of journalism and an unnecessary shaft or attack on the person of Koko, a banker of repute, who rose to the position Regional Manager of Zenith Bank. The question is: Why should Koko be so traduced in a particular medium now that Amaechi has thrown his hat into the ring for the presidential race? The connection between the duo is strictly official and any suggestion to the contrary only exits in the figment of the imagination of the authors of such mudslinging. As a free-born Nigerian, Koko qualifiedly secured a mortgage loan to buy the property in London just like other Nigerians who can afford it have done and this is verifiable. So what offence has he committed? But just because Amaechi who nominated him as the MD of NPA has declared to run for president, Koko and others officially connected to him

must be vilified and smeared! For all I know about this gentleman with a successful banking career, the same property was declared to the Code of Conduct Bureau (CCB) before Koko was appointed into public office. From personal inquiry, the mortgage loan was signed in June 2015 and it is for 15 years tenor. Koko had in 2014 moved his family out of the country for security considerations after they faced a life-threatening attack in Port Harcourt, Rivers State during the 2015 polls. They had moved in before they discovered that the property was not large enough for a family of seven and few months after, Koko, it was learnt found a house suitable for a large family, the size of his family and approached a bank for a mortgage loan to purchase it which will be paid back till 2029 when the tenor will end. I think those who are deeply troubled and unsettled about Amaechi’s political aspiration should look elsewhere for their

pound of flesh and not take the heat on the likes of Koko who has not breached any known law so far since he assumed office as the NPA boss or as Executive Director. To say the least, it is infantile, reckless and a height of desperation to get back at Koko; I also submit that it is sheer muckraking by some journalists who must have been paid by wholesalers of tainted and slanted information and disinformation. This over-flogged issue of Koko’s mortgagefinanced property cannot qualify to be news because it does not meet the qualifying element of newness. It can only pass for a re- use, a rehash, worn-out and resurrected story with no new angle or development. I urge Koko not be distracted in his commitment and focus in his current assignment at NPA with the ongoing transformation, re-engineering and repositioning of the maritime agency for greater transparency and operational efficiency. t 0LFZ /XBODIVLXV JT B 1VCMJTIFS BOE $BQJUBM .BSLFUT "OBMZTU CBTFE JO -BHPT

Interswitch Partners Cisco to Equip Tertiary Institutions in Nigeria Emma Okonji In line with its efforts to support Science, Technology, Engineering and Mathematics (STEM) education in Nigeria, Africa’s integrated payments and digital commerce company, Interswitch, has announced plans to donate Information Technology (IT)

equipment to students in 10 tertiary institutions across Nigeria. The initiative, which is being implemented in collaboration with Cisco, will see Interswitch donate IT equipment including routers and switches to the Cisco Networking Academies in these institutions. Speaking about the donation,

Group Chief Marketing and Communications Officer, Interswitch Group, Cherry Eromosele, said Interswitch had always been committed to improving learning, especially in STEM courses. “We understand that the study of Science, Technology, Engineering and Mathematics courses is not a walk in the

park, however, going through the rigors of studying STEM subjects without basic tools such as a computer can be unnerving. This is why we are donating the IT equipment to the networking academies with the belief that more students will be equipped to hone their skills in STEM and consequently

pursue careers in STEM,” Eromosele said. Commenting on the collaboration with Interswitch, Country Lead at Cisco, Nigeria, Sebastine Nzeabine, said: “Cisco Networking Academy transforms the lives of learners, educators and communities through the power of technology, education

and career opportunities. Critical to this is creating connections through access to infrastructure, forging opportunities by investing in people to help create a skilled economy and inclusion of all citizens to give them efficient technology solutions to address their unique local needs.”

Nigeria’s Annual Maize Conference Returns with New Strategies Emma Okonji The annual Nigeria Maize Conference is set to return for its 4th edition with the theme ‘Much More Maize 2.0.’ The annual gathering of stakeholders and experts in the maize agricultural value chain will be held in Abuja, in a hybrid event that will be open to physical and virtual participants. This year’s conference is coming

on the heels of the 2021 edition which was themed ‘Much More Maize’ where Bayer introduced the Much More Maize Toolkit, an innovative solution to help Nigerian farmers maximize farm yields and secure harvests that had previously been hampered by devastating disease and pests. The 2022 edition, tagged ‘Much More Maize 2.0’, will further entrench and expose maize farmers and stakeholders

to sustainable farming practices that will increase maize harvest in Nigeria, boost the country’s overall productivity, and reaffirm Bayer’s commitment to improving food security. Organised by Bayer Nigeria Ltd., a subsidiary of Bayer AG Germany, this year’s conference is expected bring together, key industry stakeholders from Bayer SA; the International Institute of Tropical Agriculture (IITA); Bayer

Nigeria Ltd.; Maize Association of Nigeria (MAAN); Institute of Agricultural Research (IAR); the Federal Ministry of Agriculture and Rural Development (FMARD); Agribusiness Department of Unity Bank, among others. Speaking ahead of the conference, the Country Sales Manager, Bayer Nigeria Ltd, Mr. Temitope Banjo stated that the country had made

significant progress in maize production since the last edition of the conference and this year’s conference seeks to foster more impact in Nigeria and Africa. “Although maize production in Nigeria increased from 12.8 to 13.94 million metric tons between 2020 and 2021, propelling the country to become Africa’s largest maize producer (followed by South Africa, Egypt, and Ethiopia), there is still room

for improvement to close the demand gap and meet the crop’s domestic and industrial needs in Nigeria. This year’s conference will reinforce our commitment to addressing poor agronomic factors and the use of bad seeds during planting and cultivation, as well as making a greater impact through innovative solutions to ensure maize production achieves the required productivity and profitability.

Fitness Coy Earmarks N 7 0 0 m t o P r o m o t e , Health, Wellness in Abuja James Emejo in Abuja West Africa’s fastest-growing fitness firm, I-Fitness has said over N700 million had been invested to expand its footprints to Abuja by providing two centers to aid healthy living among Abuja residents. Its founder, Mr.

Foluso Ogunwale, at the inauguration of the gym said the investment would help to instil the culture of health and wellness in the city. He pointed out that the Gwarinpa branch being inaugurated was the 16th among the various branches opened by the firm adding that the Wuse Zone 5

branch would still come onbaord in few months. He said that company’s decision to open two new outlets in the FCT was borne out of the desire to make fitness common, and more affordable. According to him, this has become imperative because the World Health

Organization (WHO) 2021 report, stated that noncommunicable diseases account for 71 per cent of global deaths. He said that at the top of the list of these noncommunicable diseases were cardiovascular diseases, diabetes, cancer and respiratory alone killing

millions of people yearly. Ogunwale also stated that physical inactivity and harmful lifestyle habits were the leading causes of these health challenges. He said, “So, as you know, I-fitness is currently West Africa’s fastest growing fitness chain, we provide an enabling environment

for people to excercise, thereby building a healthier and happier community of people. A board member, i-fitness, Ms Nnenna Onyewuch encouraged women especially married one to keep fit adding that “it is not about your husbands, it is about you.

governors of the Banks to share their experiences and engage in addressing climate change and energy transition challenges, as well as their policies and measures to deal with them. “Governments will be able to show what their countries have

done in this regard. A key highlight during the Bank Group’s Annual Meetings will be a commemoration of the 50th anniversary of the African Development Fund, the Bank Group’s concessional lending arm,” he said. The Annual Meetings will also

serve as a precursor to the UN Climate Change Conference, or COP 27, which is being called the “African COP”, to be held in November in Egypt. Governments will once again lobby for the continent’s positions on climate change.

AFDB EARMARKS $1.5BN TO AVERT FOOD CRISIS IN AFRICA we need to look at all non-coal sources of energy. Therefore, from where we stand, as long as a gas project has been included in a country as part of Nationally Determined Contributions…then the bank will invest in those gas

power plants,” he said For the first time since 2019, many delegates at this year’s meetings: the 57th Annual Meetings of the African Development Bank and the 48th Annual Meeting of the African Development Fund, will

meet in person. The Secretary General, AfDB, Vincent Nmehielle said the theme of the five-day meeting, “Achieving climate resilience, and a just energy transition for Africa,” was chosen to provide a framework for the

10 BANKS INTEREST INCOME UP 19.4% ON HIGH-YIELD ENVIRONMENT, LOANS & ADVANCES rate to individual customers to meet the CBN’s LDR policy. Commenting, analyst at PAC Holdings, Mr. Wole Adeyeye said: “banks are going to face challenges in interest income generated from loans to customers. The licensing of PSP to MTN Nigeria and Airtel

Africa going to pose a threat but banks with effective management understand the banks have been coping with the Fintech companies and trying to improve lending to customers through App USSD, among other devices.” On his part, the Vice President,

Highcap Securities Limited, Mr. David Adnori expressed that bank customers’ have to decide where to borrow from with alternatives provided by Fintech and PSP operators. He maintained that banks are always prudent in managing interest income generated from loans

and customers and are expected to thrive amid challenges posed by Fintech companies, among others. However, analyst at Vetiva Research believed that tough times still lie ahead for the banks, with interest rates poised to recover slowly, while inflationary pressures

remain. The analysts added that competition from the new Payment Service Bank (PSB) licences issued to MTN Nigeria and Airtel pose a threat to some lines of the banks’ businesses. “Next year, we expect interest rates to remain in a steady upward

trajectory, as government borrowing continues to rise to fund an everexpanding deficit. However, we do expect inflation to continue to outpace this rise, meaning negative real returns for investors in the market, ”said banking analyst at Vetiva, Joshua Odebisi.

T H I S D AY ˾ MONDAY, APRIL 25, 2022

BUSINESSWORLD

NEWS

Heifer Unveils Digital Agriculture Champions Initiative in Africa

Gilbert Ekugbe

Heifer International, a nonprofit organization on a mission to end global hunger and poverty, has unveiled her Digital Agriculture Champions (DAC) initiative. The initiative, said in a statement, will leverage exponential digital technologies as a key component in the design of signature programs covering 11 countries of Heifer’s operations in Africa. Heifer added that the effort will deliver sustainable, costeffective training modules for smallholder farmers across

Heifer Africa, starting with Kenya. “Heifer is advancing technology and mechanization to address some of the postpandemic challenges across different Agricultural value chains in Africa; investing in digital extension systems for training as a post-pandemic response strategy that will create efficient, scalable solutions for farmers and help boost the value chains in which they work. “Heifer is also committed to mentoring the youth who often constitute the extension staff, and is focused on empowering them

to become digital champions with entrepreneurship skills to ensure quality services for farmers, and sustainable business models beyond the life of Heifer project interventions. “Heifer is committed to catalyzing ground-up engagement of the youth in Agriculture. The Digital Agriculture Champions initiative will foster the application of digital technology in Agriculture, delivering solutions that address challenges faced by smallholder farmers at scale, ”said Adesuwa Ifedi, Senior Vice President Africa Programs, Heifer.

Insurance Sector Operators Seek Ties With OPS Ebere Nwoji Insurance operators have sought for close ties with members of the Organised Private Sector (OPS) adding that this would expose OPS members to gains and values of insurance to their business and at the same time open business opportunities to the insurers. The insurers stated this during a visit of a delegation of Nigerian Council of Registered Insurance Brokers (NCRIB) to the Lagos Chamber of Commerce and Industry (LCCI). At the meeting, LCCI president, Dr Michael Olawale Cole, expressed the chamber’s

readiness to forge better collaboration with the Nigerian Council of Registered Insurance Brokers (NCRIB) in order to open up the entire body of the organised private sector to the values of insurance.. Olawale-Cole, while receiving the NCRIB delegation led by the president Mr Rotimi Edu, opined that the Chamber, one of the foremost and formidable financial advocacy platforms would be offered to insurance brokers to propagate knowledge about the values of insurance to business and commerce. Also speaking, NCRIB President, Mr. Rotimi Edu, stated that the visit of the Council to LCCI was part of the Council’s strategic

engagement with professional bodies in a bid to broaden the frontiers of its relevance among the organised private sector in Nigeria. He urged the Chamber to use its platform to educate its members on the importance of all the compulsory insurances, adding that insurance industry was not yet where it should be in terms of patronage and public acceptance “We will appreciate that your Chamber gets the NCRIB involved in some of your programs both at international and national levels by giving room for the Council to tell the story.

MONDAY APRIL 25, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, APRIL 25, 2022

HOMES&DESIGN NCC COMPLEX:

The Gold-plated, Glittering Tower

MONDAY, APRIL 25, 2022 ˾ T H I S D AY

HOMES&DESIGN

The Grand-styled, Glassy, Glittering High-rise Abuja’s Maitama district has some rare pieces of real estate, but only a few stand out, like the Nigeria Communication Commission (NCC) headquarters building and its neighbour, the Transcorp Hilton. The NCC complex steel frame and glass facade give it an evergreen golden glitter. Bennett Oghifo writes

he Nigeria Communication Commission complex stands elegantly on Plot 423 Aguiyi Ironsi Street, Maitama, Abuja. The building is one of the most attractive structures in the Federal Capital Territory. The eight-story main building is held in place with glass and steel, giving it a soft glow mixed with a nice golden glitter that keeps heads turning at that highly-priced corner piece. Compared to other construction materials, glass is significantly lighter, making it ideal for high-rise steel structures as it helps lower

the overall dead load. Materials like concrete contribute to the total stress of a building, thus increasing the chances of failure over time. On the other hand, structural steel framing has several distinct advantages, especially when compared to wooden, brick, or concrete construction. For instance, steel is denser, stronger and more durable than other materials. Compared with concrete products or wood, steel components are much stronger and durable and lighter. This may sound surprising, but typical steel fabrication is approximately 30

per cent to 50 per cent lighter than its wooden equivalent, which, at the same time, makes it a stronger and more durable alternative. Steel structures are faster to build and easy to fabricate in different sizes. As projects are demanded to be finished in the shortest time frames possible, which at the same time possess a security nightmare, given the unsafe building practices such shortcutting must entail. But, all of that starts to matter less with the addition of steel. Structured steel parts are fabricated off-site most

of the time, making them ready to install as soon as they are shipped out onto the site, ready to be erected. This speeds up even the most large-scale projects, reduces labour costs and cuts the element of human error. Aside from that, the fabrication of steel components is very quality-controlled, allowing for the parts to be assembled on-site and for project managers to make sure that the size is correct, in accordance with the size of the project beforehand. The NCC complex has a parking area, gatehouses, service block, borehole, plant/ panel room, etc.

MONDAY, APRIL 25, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Emefiele: We Are Doing Everything Possible to Restructure N i geri a’s E c on om ic Ba s e

Central Bank of Nigeria Governor, Mr. Godwin Emefiele, in this interview on the sidelines of the International Monetary Fund/World Bank Spring Meetings addressed some of the concerns about the Nigerian economy that were noted by the multilateral institutions. Obinna Chima brings the excerpts: The World Bank President during a media brieﬁng expressed concerns about the Nigeria’s multiple exchange rate and that forex restriction is also affecting trade in the country, what do you have to say about that? et me say both the IMF and World Bank are our prime development partners and we have received support from them at different times in resolving some of our economic problems and challenges, particularly bothering on finance. Indeed, the IMF demonstrated that when in 2020, they made available the Rapid Financing Instrument (RFI) to all the countries that were affected by the pandemic and Nigeria benefitted to the tune of $3.4 billion. In 2021, realising that the pandemic was still on, we also received additional support from the IMF through the Special Drawing Rights and Nigeria received over $3 billion again. So, what I can say is that we have continued to receive support. And at our various meetings at the IMF, the resolutions have always been that countries, ministers and central bank governors should go back to their different countries and find home-grown solutions. Nigeria’s situation is very peculiar and that is the reason why we have continued to engage the IMF and World Bank to show understanding in our Nigeria’s challenges and they are indeed showing understanding. When they raised the issue about the 43 items and the exchange rate, what they are saying is that the want us to free-float the exchange rate, and you do know that this has some impacts on the exchange rate itself in the sense that when you allow that to happen, you will have an uncontrollable spiral against the country’s exchange rate. And what we are trying to do is to ensure that as long as we run a managed-float, there must be some intervention facilities put in place to really control the rate at which exchange rates spiral and we say that as long as the demand for foreign exchange rate exceeds supply, we would continue to have this challenge, but we are doing everything possible to deepen the economy and restructure the economic base of the country through some of the demandmanagement policies that we have put in place which they do not like. We have said that these are policies would be released, but we want to sure that we have been able to deepen the production base of Nigeria before we stop some of the interventions. I believe they would continue to raise these issues, but on our part, we would continue to make them understand the peculiar situations that Nigeria faces and how we need to work together to continue to see to the progress of the Nigerian economy. So, we cannot adopt what is being advised, which is to freely-float the currency because like I said, doing that would create exchange rate spiral. We have been on this since 1986. For instance, between 2015 and now, you would observe that we have adjusted the currency from about N155 to a dollar, to about N420 that it is today. So, we cannot be accused of not adjusting the currency. But we are trying to adopt a gradual approach towards adopting the price to the level that it is today. But while adjusting price, you must also do something about demand and supply. That is the reason we are saying we need to make sure that those things we can produce in the country, we restrict access to foreign exchange from it so as to encourage people to produce them locally. When that happens, what you would see is that the demand for forex would reduce and when it reduces, ultimately you would find that price would not rise beyond the expectation of Nigerians and I can say we are achieving that. Today, we have done a lot of interventions in rice, maize, and others. We have stopped the importation of rice, maize and with Dangote Refinery coming up, with the 650,000 barrels per day refinery, hopefully by the end of the year, that would also reduce the demand for

that mean? This means that generally we have been tightening, but again, in some priority sectors of the economy, like agriculture and manufacturing, we have adopted somewhat of accommodative monetary policy stance and this is why you could see that people can raise 10-year loans with two years moratorium at single-digit interest rate for agriculture and manufacturing. What we have sought to achieve with that is to see how we can adopt a more accommodative monetary policy to support those sectors so that they can grow, and that is why you can see that whereas we are doing everything possible to tighten and rein in inflation, we also adopting some accommodative policies on the other hand that would accelerate the growth of the Nigerian economy. That is why you can see that whereas inflation is coming down gradually, we are also seeing that the output, which is growth is increasing on the other hand, which is a good result for Nigeria, given that today, as a result of global challenges we face, the geo-political tensions between Russia and Ukraine, the main issues at these meetings are rising energy and commodity prices which had led to acceleration in the rate of inflation and at the same time dampening of growth globally, whereas Nigeria had been facing this and we have been dealing with it. So, I would imagine that this is a lesson that must be learnt from Nigeria, which is why I believe we must be commended for what we are doing.

So, there is no direct plan to maybe tighten monetary policy? What I am saying is that we are tightening generally and that is why if you ask the banks today, they would tell you that we are really tightening monetary policy, but at same time, we are adopting some of accommodation to support the priority sectors of the economy.

Emefiele forex that normally goes for the importation of petroleum products. I have often said that between the importation of refined products and the importation of rice, sugar and wheat, they consume close to about 40 per cent of the forex needed to fund imports in Nigeria. If by the end of this year, forex allocation to these items end, then we can see the exchange rate achieve more stability and by the time we achieve this, we would continue to engage more with the IMF and World Bank. Another issue that was raised is that Nigeria needs to reconsider its policy on petrol subsidy, what do you have to say about that? What I can say about subsidy is that when you find people talk about subsidy removal, I support it and also when you talk about holding on to the subsidy until the right time, we also support that. You would have heard the finance minister say that they decided to defer subsidy removal until maybe sometime next year, when we are sure that the Dangote Refinery has taken off. What does that mean? It means that we need to make it easy for people to buy petroleum products and pay in naira. Yes, you will find that the price may be a little bit higher, but it is going to be available because Dangote would buy the crude and that saves both the cost of transportation and logistics. So, we need to be a bit patient.

In the latest IMF’s World Economic Outlook, the multilateral institution particularly noted the increase in nonoil exports’ contribution to the country’s Gross Domestic Product (GDP), which has been the focus of the central bank for some time through its intervention scheme, do we expect to see more push in that area going forward? I am happy that the IMF and World Bank are seeing the efforts to drive non-oil exports. Like I have always said, before now, we have always relied on earnings from crude oil and when earning from crude are not there, we begin to resort to foreign portfolio investments (FPIs) and foreign direct investments (FDIs). Yes, we would continue to need both FPIs and FDIs, but we need to increasingly look at how to improve non-oil exports, particularly through export proceeds and so on. I am happy that other people outside Nigeria are seeing this effort and this means we will continue to do more to ensure that we really deepen this and ensure that we fund imports with proceeds from exports in the country and with less reliance on the CBN. Also, in the World Economic Outlook, the IMF advised central banks to consider tightening monetary policy curtail surging inﬂation, is that what you would be looking at? I must say that in the last two years, the CBN has adopted price and monetary stability but that is conducive to growth. What does

There are allegations that some foreign airlines now charge airfares in dollars, are you aware of these? I addressed this during the Easter holidays. Before I left the country, I read a release by the airlines and I called them to let them know it is illegal for them to charge foreign currency for tickets or businesses conducted in Nigeria because that would lead to the dollarisation of the economy and you would have seen that they have withdrawn that statement and they apologised for that. So, I urge people to continue their business and continue to procure their tickets in naira. There are reports that rice farmers are still importing paddy rice, what can you say about that? That is not true and absolutely, that is not true What should we expect from you in the near future, especially at a time when the leadership of central banks globally are under scrutiny? At the central bank we remain focused on our job and we are happy that we are playing our role in supporting the Nigerian economy. We have been on this since 2015, when inflation rate was almost at 19 per cent, it came down to almost about 11 per cent because of the increase in energy prices as well as electricity prices. It went up to almost 18 per cent again and we have managed to bring it down to below 16 per cent. I believe we would continue to rein in inflation. On the other hand, we are doing everything possible to support the fiscal authorities by putting in place facilities to support households, businesses and others at single-digit interest rate and that has helped in accelerating output and we feel delighted that even at this meetings, amongst other countries, the IMF has held a positive position about Nigeria’s growth prospect at 3.4 per cent and we believe that all things being equal we are going to surpass it. So, what we are doing is to continue to focus on our job and nothing more.

T H I S D AY ˾ MONDAY, APRIL 25, 2022

BUSINESS SPECIAL

ANALYSIS

Assessing FMDQ’s Green Finance Initiatives The impact report of the Green Bond Market Development Programme (NGBMDP) shows that the initiatives championed by FMDQ Group and other partners to establish a green bond market in Nigeria are yielding desired results, writes Goddy Egene

fter the adoption of the Paris Agreement by 196 countries on 12 December, 2015 many countries began striving to keep to the terms of the agreement. The Paris Agreement calls for keeping the global temperature to 1.5°C above pre-industrial era levels. Nigeria ratified the agreement in 2017. It is estimated that over $60.00 trillion is required to achieve the Paris Agreement from now until 2050. And the green bond market is a major source of funding required for the shift to a low carbon economy in line with the goals of the Paris Agreement. Green bonds seek to reduce this pressure on the environment by addressing green-house gas emissions, tackling pollution, minimising waste, and improving efficiency in the use of natural resources. In order to ensure that Nigeria begins the journey of fulfilling the terms of Paris Agreement after signing in 2017, the Green Bond Market Development Programme (NGBMDP)was launched in June 2018. The NGBMP was launched after a series of feasibility studies. Consequently, FMDQ Group, Climate Bonds Initiative (CBI) and FSD Africa formalised a partnership through the execution of a three-year Cooperation Agreement to support the development of the Nigerian green bond market. The NGBMDP was launched at a time when arguments for economic diversification had taken centre stage and most African countries were seeking to align their economies to take advantage of opportunities within the green finance space. FMDQ Group serves as the secretariat of the programme and the appointed project manager that oversees the implementing activities, convenes meetings, organises workshops, and provides administrative coordination of events. Prior to the launch of the NGBMDP in 2018, Nigeria issued its first sovereign green bond in December 2017, signaling the government’s green intentions in meeting its National Determined Contributions (NDCs) to reducing CO2 emissions in line with the Paris Agreement. This issuance was a watershed moment for the country as this was the first ever sovereign green bond certified against the Climate Bonds Standards and Certification Scheme. The proceeds from the five-year, N10.69 billion, was used to finance renewable energy (Rooftop Solar) and afforestation projects. However, the NGMDP strategy presented an approach to accelerate the development of green bonds as a tool for Nigeria to broaden investment in green projects and assets. Some of the programme’s key features include regulatory support for the development of guidelines and listing requirements for green bonds, developing a pool of local green bonds licensed verifiers, training and supporting demonstration transactions. In developing the corporate and nonsovereign green bond market, the partners of the programme implemented five key strategic workstreams: facilitate the establishment and development of a green bond market; support the development of guidelines and listing requirements for green bonds; develop a pool of Nigeria-based licensed verifiers to support issuers; develop a pipeline of green investments and facilitate engagement with potential investors and support broader debt capital markets reforms that have an impact on the non-government bond market in Nigeria. In its impact report, the NGMDP has, over the last three years, made considerable strides towards developing the market and supporting green bond issuances at both sovereign and corporate levels in Nigeria. Through the programme’s support, N47.82 billion has been raised through the issuance of green bonds in Nigeria, over five hundred 500 capital markets professionals have been trained and five green issuers have been provided technical assistance to support their issuances among others. Another key success is the support the programme provided to FMDQ Group on the launch of the Green Exchange in November 2021. FMDQ Green Exchange is an information platform dedicated to promoting transparency, good governance, and the growth of green and sustainable finance in the Nigerian financial markets by showcasing sustainability-linked capital raising activities (securities issuances)

Onadele that align with global ESG. In the spirit of continuous improvement, FMDQ Group, as the local partner, continues to educate capital market intermediaries and issuers on the importance of the ESG Impact Reports and disclosures through the utilisation of the United Nations (UN) Sustainable Development Goals (SDGs), which is used to identify sustainability issues and demonstrate the company’s contribution to the global initiative. FMDQ Group periodically monitors the issuances and, on an annual basis, requests the submission of the issuers’ Impact Reports and Independent Assurance Reports. Additionally, issuers of corporate green bonds are also required to render a Quarterly Compliance Report within 10 business days of the end of each quarter. Issuers are also obligated to provide updated Issue/Issuer rating reports, as may be required from time to time. These disclosures are published on the FMDQ Securities Exchange Limited website. The issuers fulfil these requirements through their sponsors to list these securities, which are Members of FMDQ

“FMDQ Green Exchange is an information platform dedicated to promoting transparency, good governance, and the growth of green and sustainable finance in the Nigerian financial markets by showcasing sustainabilitylinked capital raising activities (securities issuances) that align with global ESG.”

Securities Exchange Limited under the Registration Member (Listings) category. However, before the launch of the FMDQ Green Exchange, the group entered a three-year partnership with FSD Africa and CBI to develop the Nigerian green bond market (2018 – 2021). This partnership is now renewed with only FSD Africa for 2022 to 2025. FMDQ Group has listed two sovereign and four corporate green bonds, with a total value of N58.51 billion. It has signed a memorandum of understanding (MoU) with the Lagos State Government and FSD Africa to facilitate the issuance of the maiden N25.00 billion green bond and other sustainability linked debt securities (September 2021). The group has executed over 20 training/ capacity building sessions, directly impacting 976 stakeholders. The last session was held on March 18, 2022, for the Lagos State Government. Given the progress made within the first three years of the programme, it is very obvious that the future of green bonds market is very bright. Besides, the benefits of green bonds are capable of attracting more patronage. Green bonds are important because they are financial innovation instruments designed to facilitate sustainable investing for institutional investors such as pension fund administrators (PFAs), insurance companies and funds/asset managers. Green bonds are viewed as being pivotal to the growth of sustainable infrastructure investments from institutional investors by improving the liquidity of infrastructure assets. Green bonds comply with regulation, invest in sustainable products and initiatives without taking on additional risk. They develop better-informed investment strategies; broaden restricted investment portfolios; increase investor demand and diversification; improve relationships with debt providers; strengthen issuers’ leadership; enhance issuers’ reputation

and brand value; help communicate issuers’ sustainability narrative and strategies; boost integration between finance and sustainability teams; stimulate positive stock market reaction and improvements in financial performance; foster green innovations; help transition towards low-carbon and resource-efficient economies; contribute to public-private-partnerships development opportunities and facilitate the implementation of climate policies. Also, the Green Bond Principles (GBP), which are voluntary guidelines set out by the International Capital Markets Association (ICMA) encourage transparency and disclosure and promote integrity have facilitate the development of the green bond market. The GBP are intended for broad use by the market and they provide issuers with guidance on the key components involved in launching a credible green bond. They aid investors by promoting the availability of information necessary to evaluate the environmental impact of their green bond investments; and they assist underwriters by moving the market towards expected disclosures that will facilitate transactions. As a direct result of the NGBMDP’s advocacy on climate change, key stakeholders in Nigeria, especially financial institutions, have become more aware of the climate-related financial risks associated with their business due to the exposure of their ‘loan book’ portfolio to high polluting sectors such as oil and gas. On the flip side, there are ample opportunities for green financing in several sectors of the Nigerian economy, ranging from power and energy to agriculture, housing, and transportation, amongst others. The NGBMDP has provided a framework on green finance to support the private sector in mainstreaming sustainability into finance and investment opportunities. However, for the programme’s advocacy to be more impactful on the Nigerian economy and produce the desired levels of private sector issuance and green investments, it must connects directly with representatives of the Ministries, Departments & Agencies (MDAs) of government responsible for developing the pipeline of green projects for the sovereign issuance. The absence of a large pipeline of green or sustainable projects despite the demand is a clear gap that needs to be addressed to facilitate coordination and capacity between the ministries. NGBMDP must educate more potential issuers on the benefits of labelling and financing green projects especially where the extra efforts and marginal added costs do not immediately translate into a pricing benefit. The programme must work with Development Finance Institutions (DFIs) and the Central Bank of Nigeria to inject concessional capital into the system to reduce the costs of funding for local banks. It must encourage the banks to focus on green bonds as a risk management tool for greening’ the loan book and mitigating future exposure to potential stranded assets by reducing capital allocation to ‘brown assets’ using portfolio reviews support for risk management mechanisms, such as guarantee structures, aggregation structures for small projects, and microloan products that can stimulate private sector participation. The programme should collaborate with the regulators and Exchanges to periodically mandate the disclosure and transparency of carbon footprints as a prerequisite for access to green finance, and/or encourage innovative financial products through incentives. It should establish or support a project preparation facility such as the Climate Finance Accelerator (CFA) to catalyse early-stage projects and small local developers to scale to a size that is commercially bankable and attractive to institutional investors. It must provide technical assistance and capacity building for renewable energy projects (off-grid and grid connected) and develop more technical specialised knowledge of sustainable farming practices, including adopting climate smart agriculture (CSA) practices. Aside from green bonds, other innovative financing solutions will need to be created to finance the transition to a low-carbon economy. These include green loans, green commercial papers and sustainability-linked instruments. Green financing instruments are a necessity if Nigeria is to meet its commitment to the global agenda for sustainable finance for its own long-term economic resilience.

MONDAY APRIL 25, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY APRIL 25, 2022

CITYSTRINGS

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

Reviving Ogun Mass Transport Scheme Ogun State Governor, Prince Dapo Abiodun recently boosted the state's inter and intra-city transportation by reviving the State Mass Bus Transit Scheme. James Sowole reports that its implementation is aimed at easier and flexible transport of goods, services and humans by leveraging rail, sea and road networks

The minister of Transportation, Hon Rotimi Amaechi and Governor Dapo Abiodun, inside one of the buses

The newly acquired buses

hen veteran journalist and former Governor of Ogun State, Chief Olusegun Osoba, commended the Governor of Ogun State, Prince Dapo Abiodun for bringing back State Mass Transit Project in his lifetime, some guests, who gathered at the Arcade Ground, Oke-Mosan, Abeokuta for the unveiling of mass transit buses, may not know the import of the statement. But to the people, who were in the state during few years that preceded the advent of the Third Republic, when Osoba was elected the governor under the platform of Social Democratic Party (SDP) and few years after the military regime that followed, the unveiling of the new buses in the fleet of the State Mass Transit Scheme, represented the return of good old days in the intra and intercity, bus services, in the Gateway State. During the period, which Osoba described as glorious era in public transportation system in the state, buses of different passenger capacities were provided for commuters within Abeokuta metropolis under intra-city category while some were deployed to carry passengers from the state capital to cities like Ijebu Ode, Sagamu, Sango and other major towns in the Intra state category. For the inter-state category, luxury buses, were deployed mainly to Lagos and Ilorin, Kwara State capital, just as some buses were also available for special hiring services. Some unique features of the then Gateway Mass Transit were the low fare policy when compared to the average fare of the normal commercial buses for a journey of the same distance and the comfortability and reliability, in terms of operations. The scheme, also served as a means of employment for drivers, ticketing officers, checkers, supervisors and ground staff. So, the Friday, April 8, 2022 unveiling of wifi enabled State Mass Transit buses, was very significant, not only to the government and the commuting masses but to some stakeholders, who had witnessed benefits of previous scheme. While addressing the gathering, Osoba, who said he had the permission of the former President of Nigeria, Chief Okusegun Obasanjo, to speak on his behalf, said they would continue to give fatherly support to the administration of Governor Dapo Abiodun for listening to fatherly advices and executing massesoriented projects. The former governor said Abiodun has restored some past glories of the state, adding that Abeokuta has always been a commercial centre, and with the launching of the mass transit buses, the present administration has succeeded in restoring the past glory of the state in terms of transportation. "The Governor is making my evening and that of President Obasanjo great. The young man is restoring pass glories and making us happy. We thank you in many ways for doing good jobs and we pledge our continuous support for your administration. "I tarred Ijebuode- Epe road when I was

From left Chief Olusegun Osoba, Hon Rotimi Amaechi, Governor Dapo Abiodun; the Deputy Governor of Ogun State, Mrs Noinmat Salako Oyedele; the Alake of Egbaland, Oba Adedotun Aremu Gbadebo and former president Olusegun Obasanjo, during the unveiling of the State Mass Transit buses Governor and Abiodun has re-visited the road and made it double lane and also brought back the Gateway Mass Transit that was operational during my governorship period, sowe thank him in many ways for restoring old glories. "Obasanjo's advice and mine to him always tally therefore, we wish him well and pledge our support for his administration and pray for his success." Expectedly, the Alake and Paramount Ruler of Egbaland, Oba Adedotun Aremu Gbadebo in his remarks, appreciated the state government for providing modern system of transportation, saying the scheme would go a long way at alleviating the suffering of the people from moving from one place to another. In another remark, the United Kingdom Foreign and Commonwealth Office Future Cities Project, which is a major partner in the development of the master plan, lauded the state government, for embarking on massesoriented project. Represented by its Team Lead, Kayode Khalidson, the group, while going down the memory lane on the conception of the project, commended Dapo Abiodun for bringing the plan to fruition. He specifically commended Abiodun for not allowing the plans, suggestions

and implementation for the strategic master plan, gather dust in the shelf. The team lead said that with this singular development, Ogun State has been strategically shortlisted for a global financing with the introduction of energy efficient buses/ electric buses towards reducing carbon emission. Paul Rossi who spoke on behalf of the Road Transport Employers Association of Nigeria and other critical stakeholders in the transport subsector of the state economy, pledged the unalloyed support to ensure the success of the implementation of the master plan aimed at easier and flexible transport of goods, services and humans leveraging on rail, sea and road networks The Minister of Transportation, Hon Rotimi Amaechi, in his remark, commended the initiative, saying that the move was in line with the Federal Government's Transport Transformation Agenda. Amaechi said with the Ogun State Strategic Master Plan in place, the state is launching itself into the 21st Century development as this will attract more Direct Foreign Investments and a testimony that the governor is adding value to governance in the state. While lauding the state government for operating a purposeful government, Amaechi said all the legacy projects carried out by the governor would continue to speak for him after leaving office. The Minister who reiterated the commitment of the government at the centre in improving

"The launch of the buses fitted with Wifi and other gadgets, is in line with the transport master plan aimed at providing efficient and affordable means of moving people from one location to another"

on transportation system across the country, informed the gathering that the construction of Lagos -Calabar rail line, that would pass through Lekki Deep Seaport down to Epe township, would soon commence. He stressed that the government has continued to implement the rail line master plan project initiated by President Olusegun Obasanjo regime. Addressing the gathering, Abiodun said the launch of the buses fitted with Wifi and other gadgets, was in line with the transport master plan aimed at providing efficient and affordable means of moving people from one location to another. The governor disclosed that a Memorandum of Understanding (MoU) would soon be signed between the state and a private firm for the construction of the Olokola Seaport. He said, "It is important to know that the whole essence of the transportation master plan is for us to efficiently move people either intra-state or inter-state. We are the industrial capital of this country and neighbour to the biggest economy, which is Lagos State. We see the cross border migration everyday and the trouble our people go through. "Our transportation master plan has proffered suggestions and solutions for us to deal with this. Today, we are launching these mass transit buses. The pilot phase will start from Abeokuta and we will expand it to other cities." He said his administration is also developing Bus Rapid Transit (BRT) lanes in conjunction with the Lagos State government under the Lagos-Ogun Joint Development Cooperation, adding that the state buses would move people from Abeokuta through Mowe, Kara axis to Marina as well as from Ifo and Ado Odo-Ota axis to Lagos and vice versa. "Very soon, we will be signing a Memorandum of Understanding with a private sector player for the construction of the long awaited Olokola Port. The Olokola Port will soon be a reality. We are also committed to having water transportation by having water taxies. "This is why we have come up with a Multi-modal Transportation Master Plan that we launch today. This transport policy takes into consideration the short, medium and long term approaches to the development of our transport sector. This will include road, rail, water and air transportation plans for the state", he explained. He emphasised that the multimodal transportation master plan of his administration stems from the comprehensive and well researched Urban Transport Policy and Strategic Transport Intervention Plan. Worthy of note at the event was the endorsement of remarks of Osoba on the scheme by a former President of Nigeria, Chief Olusegun Obasanjo, who though came out with the former governor, but rather than say anything, said he concurred with all Osoba had said. When asked to comment after Osoba has spoken, the former president who is the Balogun of Owu Kingdom, Chief Olusegun Aremu Obasanjo simply said "I concurred".

T H I S D AY ˾ MONDAY APRIL 25, 2022

CRIME SERAP Sues Buhari over Failure to CRIME SITUATION REPORTS Publish Indicted Persons in Alleged INSECURITY CHALLENGES IN NIGERIA: WAY OUT OF NDDC Misappropriation SEEMING DESPONDENCY (4) Precious Ugwuzor

Gbolahan Samuel Moronfolu

IF 4PDJP &DPOPNJD 3JHIUT BOE "DDPVOUBCJMJUZ 1SPKFDU 4&3"1 IBT TVFE 1SFTJEFOU .VIBNNBEV #VIBSJ iPWFS his failure to publish the names of those indicted in the alleged misappropriation of over N6 trillion JO UIF SVOOJOH PG UIF /JHFS %FMUB %FWFMPQNFOU $PNNJTTJPO /%%$ u *O B TVJU OVNCFSFE ')$ "#+ $4 àMFE BU UIF 'FEFSBM )JHI $PVSU "CVKB 4&3"1 JT TFFLJOH “an order of mandamus to direct and DPNQFM 1SFTJEFOU #VIBSJ UP QVCMJTI UIF names of those indicted in the alleged misappropriation of over N6trillion in UIF SVOOJOH PG UIF /%%$ CFUXFFO BOE u 5IF TVJU XIJDI IBT "UUPSOFZ (FOFSBM PG UIF 'FEFSBUJPO BOE .JOJTUFS PG +VTUJDF "CVCBLBS .BMBNJ 4"/ BT UIF TFDPOE SFTQPOEFOU IBT CFFO BTTJHOFE UP +VTUJDF #JOUB /ZBLP 4&3"1 JT BMTP TFFLJOH iBO PSEFS PG NBOEBNVT UP DPNQFM 1SFTJEFOU #VIBSJ UP EJSFDU .BMBNJ BOE BQQSPQSJBUF BOUJ corruption agencies to bring to justice anyone suspected to be responsible for the missing N6trillion, and to fully recover any stolen public funds.” 5IF HSPVQ UPME UIF DPVSU i*U JT JO UIF public interest to promptly publish the names of those indicted in the audit report, and to ensure that they face prosecution, as appropriate. “The public interest in publishing the names of those indicted by the audit report outweighs any considerations to withhold the information, as there would be no prejudice against those whose names are published as long as the information is appropriately framed and truthful. i5IF #VIBSJ BENJOJTUSBUJPO IBT legal obligations under Section 15(5) PG UIF /JHFSJBO $POTUJUVUJPO (as amended) to abolish all corrupt practices and abuse of power, and BSUJDMF PG UIF 6/ $POWFOUJPO BHBJOTU $PSSVQUJPO UP FOTVSF FGGFDUJWF prosecution of allegations of corruption. “The audit report raises prima facie evidence of grand corruption and its TUBHHFSJOH FGGFDUT JO UIF /JHFS %FMUB “Nigerians have the right to know the names of those indicted and other details in the report, as guaranteed VOEFS UIF "GSJDBO $IBSUFS PO )VNBO BOE 1FPQMFT 3JHIUT BOE UIF 'SFFEPN PG *OGPSNBUJPO "DU u 4&3"1 JT BMTP BSHVJOH UIBU QVCMJTIing widely the report and the names of those indicted would remove the possibility of obstruction of justice, and provide insights relevant to the public debate on the ongoing efforts to combat grand corruption and the longstanding impunity of perpetrators in the country. The plaintiff is also seeking “an order of mandamus to direct and compel 1SFTJEFOU #VIBSJ UP iXJEFMZ QVCMJTI and make available to Nigerians the 'PSFOTJD "VEJU 3FQPSU PO UIF /%%$ submitted to him on September 2, u 4&3"1 JO UIF TVJU àMFE CZ JUT MBXZFST Kolawole Oluwadare and Opeyemi Owolabi, told the court that Nigeria has made legally binding commitments under the United Nations $POWFOUJPO BHBJOTU $PSSVQUJPO UP ensure transparent management of public resources, and unhindered access to public information. *U BSHVFE i5IFTF DPNNJUNFOUT ought to be fully upheld and respected. %JSFDUJOH BOE DPNQFMMJOH 1SFTJEFOU #VIBSJ UP QVCMJTI UIF OBNFT PG UIPTF indicted in the report would advance UIF WJDUJNT SJHIU UP SFTUJUVUJPO DPNQFOsation and guarantee of non-repetition, as well as improve public confidence in the fight against corruption. i1VCMJTIJOH UIF OBNFT PG UIPTF indicted would be entirely consistent

SERAP Deputy Director, Kolawole Oluwadare XJUI /JHFSJB T DPOTUJUVUJPOBM BOE international anti-corruption commitments. i$PNCBUJOH UIF DPSSVQUJPO FQJEFNJD JO UIF /%%$ BOE SFJOJOH JO UIPTF indicted would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.” The applicant contends that despite UIF DPVOUSZ T FOPSNPVT PJM XFBMUI ordinary Nigerians have derived very little benefit from trillions of naira budgeted for socio-economic development in the region, primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators. *U BEEFE UIBU /JHFSJBOT XFSF FOUJUMFE to the right to receive information without any interference or distortion, and the enjoyment of this right should be based on the principle of maximum disclosure, and a presumption that all information is accessible subject only to a narrow system of exceptions. 4&3"1 BEEFE i"DDPSEJOH UP QVCMJD interest test, even if the government demonstrates that the publication of the names of public officials would substantially harm a legitimate interest, it is nevertheless obliged to disclose UIF SFRVFTUFE JOGPSNBUJPO JG BT JU is the case here, the public interest in disclosure is sufficient enough to overweigh any perceived harm. “The missing N6 trillion and over BCBOEPOFE QSPKFDUT JO UIF /JHFS %FMUB IBWF DPOUJOVFE UP IBWF B OFHBtive impact on the human rights of Nigerians, undermining their access to basic public goods and services, such as education, healthcare, and regular and uninterrupted electricity supply. i1VCMJD TDIPPMT IBWF CFFO MFGU UP crumble and wither away, and health care facilities in several parts of the region lack even the most basic of amenities.” 4&3"1 JT QSBZJOH GPS BO PSEFS granting it leave to apply for judicial review to enable it seek an order of NBOEBNVT DPNQFMMJOH UIF 1SFTJEFOU UP EJSFDU UIF "(' UP XJEFMZ QVCMJTI the names of those indicted in the alleged misappropriation of over N6 5SJMMJPO JO UIF /%%$ CFUXFFO BOE BT EPDVNFOUFE JO UIF SFDFOUMZ TVCNJUUFE 'PSFOTJD "VEJU 3FQPSU *U JT BMTP QSBZJOH GPS BO PSEFS HSBOUing it leave to apply for judicial review to enable it seek an order of mandamus DPNQFMMJOH 1SFTJEFOU #VIBSJ UP EJSFDU .BMBNJ BOE BQQSPQSJBUF BOUJ DPSSVQUJPO agencies to promptly bring to justice anyone suspected to be responsible for the missing N6 Trillion, and to ensure the full recovery of any misappropriated public funds. 4&3"1 JO BO BGàEBWJU JO TVQQPSU EFQPTFE UP CZ "ENJOJTUSBUJWF 0GàDFS +PFM &LPOH OPUFE UIBU EVF UP EVF UP reports of widespread corruption in UIF /%%$ UIF 1SFTJEFOU UISPVHI UIF 'FEFSBM &YFDVUJWF $PVODJM BVUIPSJTFE the constitution of a forensic audit team. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Sources of Insecurity in Nigeria Some of the major causes of insecurity in Nigeria can be ascribed to the lack of institutional capacity and breakdown of institutional infrastructures. The foundations of the institutional framework in Nigeria are very shaky and have provoked deterioration of state governance and democratic accountability, thus, paralyzing the existing set of constraints including the formal and legitimate rules nested in the hierarchy of social order. When these situations exist, the crime rate is bound to rise and the security of lives and properties cannot be guaranteed. Factors that have resulted to insecurity challenges in Nigeria include but not limited to the following: r 1FSWBTJWF .BUFSJBM *OFRVBMJUJFT and Unfairness r &UIOP 3FMJHJPVT $POáJDUT r $POáJDU PG 1FSDFQUJPOT CFUXFFO UIF 1VCMJD BOE HPWFSONFOU r 8FBL 4FDVSJUZ 4ZTUFN BOE JOability of government to provide BEFRVBUF XFBQPOT UP TFDVSJUZ GPSDFT that can match the weapons of dissidents or social miscreants. r -PTT PG 4PDJP DVMUVSBM BOE DPNmunal value system r 1PSPVT #PSEFST r 3VSBM 6SCBO %SJGU r 6OFNQMPZNFOU 1PWFSUZ r 5FSSPSJTN r 'SFRVFOU TUSJLF CZ "466 BOE other institutions resulting in students resulting to crime and other vices due to idleness etc To tackle insecurity, a key starting point should be to understand the causes of insecurity as well as to investigate their sources of social disorder BOE JOTUBCJMJUZ -JLF JO NBOZ PUIFS societies, the sources of insecurity in Nigeria have been traced to a number of factors and explained by different people. These factors have been classified or grouped into external BOE JOUFSOBM GBDUPST #FZPOE UIF external-internal dichotomy, sources of insecurity have also been classified as either remote or proximate and JNNFEJBUF TPVSDFT DBVTBM GBDUPST *O Nigeria, the challenge is not so much about insecurity of external sources. This may not be unconnected with the increasing ethnic hate, religious bigotry, political rivalry and a growing population of disgruntled citizens in the country who feel that they have been short-changed and given very limited or no access to the common patrimony. The primordial tendencies of various ethnic groups towards violence, the perennial eruption of various ethnic militias and the preponderant religious fundamentalism in place, given expression to by some sections of the dominant religious establishments in Nigeria, have inevitably aggravated the scale and propensity of insecurity and widened its scope in various ramifications. Not only has the continued state of insecurity threatened the very fabric of national integration in the country and created the ecology of GFBS EJTRVJFU BOE BOYJFUZ JU IBT BMTP meted a deadly blow to industrial development. The destruction of the badly needed infrastructure has taken the country many years backwards. The government has continued to trudge on in the face of this daring challenge and has continued to evolve strategies to contain or douse this DPOáBHSBUJPO The state of insecurity in the country has been sustained by a regressing economy, unviable hospital facilities and health services, lack of good pipe borne water, transportation and bad roads, fuel problems, unemployment and a growing sense of disenchantment that government and its representatives have not been fair to the people, thus pushing some citizens into criminal activities including violent crimes to make a living and to take out their anger on a pasTJWF TPDJFUZ $POTFRVFOUMZ UIF TUBUF of increased lawlessness, violence and criminality, that has become characteristic of life in Nigeria, has further increased the dismalness of insecurity challenges facing the country. The diminishing standard of living

and the deteriorating social infrastructure like roads, refineries, hospitals and the educational system have all contributed to a nation of desperate QFPQMF "MTP SFMJHJPVT GVOEBNFOtalism in the country has arisen as a result of multiple problems including lack of education of the adherents, strongly held misconceptions by religious zealots that the only way to expand their religious territories is by killing those who refuse to be proselytized by their arm-twisting tactics, misinterpretation or literal interpretation of Scriptural demands, economic deprivation which forces them to vent their anger on the state and an insensitive and irresponsible government that has failed consistently to provide the people with the basic necessities of life. $PSSVQUJPO IBT SFNBJOFE POF PG UIF major drawbacks for national growth and development in Nigeria and the war arrayed against it seems a lost one as more and more public officials and their ilk in the private sector are caught red-handed every now and again in acts of corruption. Honesty, sacrifice, patience, hard work and personal honor, including honorable family name, which was very important DVMUVSBM WBMVFT JO "GSJDB IBWF CFFO thrown through the window. The implication is that the monies that should have been spent on the provision of basic infrastructure and social amenities or used for human resource development purposes or FWFO GPS FRVJQQJOH UIF NJMJUBSZ BOE other armed forces and paramilitary BHFODJFT TP UIFZ DBO QSPWJEF BEFRVBUF and timely security for the Nigerian people, are “colonized” by a thieving BOE BNPSBM NJOPSJUZ XIPTF POMZ RVBMJfication is access to governance and the national till. The resultant effects of these unethical practices creates SFTPVSDF TRVFF[F GPSDJOH DJUJ[FOT to compete for the anthropogenic scarcity in place; jobs become scarce as they are few existing employment opportunities; social amenities are absent throwing society into confusion and anxiety; and politicians continue to recruit unemployed youths and vulnerable citizens, arming them with dangerous weapons to pursue and track down their political foes and to sustain a climate of repression, fear and cowardice so they can continue in their political offices. Therefore, the high and sustained rate of violent crimes such as kidnapping, armed banditry, ethno-religious agitation, religious fundamentalism, ethnic pogrom, human sacrifice for money rituals and terrorism is the response that such an invidious governance environment gets. The painful part is that the merchants of violence have continued to wreak havoc on society, XJUIPVU BOZ GFFMJOH PG NPSBM RVBMNT and have continued to paint the land with the crimson of innocent Nigerian blood. 3FHFOFSBUJOH UIF NPSBM WBMVFT BOE codes that should guide the actions and behavior of citizens is an urgent task that must be done to safeguard the future of the country and raise passionate and ethical citizens committed to the welfare and betterment PG /JHFSJBOT BOE /JHFSJB " USVF NPSBM value is one that upholds respect for IVNBO MJGF BOE QFSTPOBM GSFFEPN "OE the sum total of the moral values of a society is its image of humanity. The ultimate value is recognized as the sanctity of human life and derivatively, as the supreme worth of the individual person, or as the value of human life. There is need to regenerate the moral values in the country and even codify these so as to guide the conduct and social relations of Nigerians. These values should be built on the following principles: &WFSZ /JHFSJBO EFTFSWFT UP CF treated with dignity and rights; 2) No Nigerian should be treated differently because of his ethnic origin, colour, sex, language, religion, political affiliation, property, birth or other status; &WFSZ /JHFSJBO EFTFSWFT UP FOKPZ right to life, liberty and security of person anywhere in the country; &WFSZ /JHFSJBO TIPVME CF TBWFE from undeserved torture and inhuman treatment anywhere in the country; 5) Nigerians should be protected

against arbitrary interference with their privacy, family, home, correspondence, honour or reputation; 6) &WFSZ /JHFSJBO JT UP FOKPZ GSFFEPN of thought and conscience, choice of religion and freedom to teach, practice and worship; 7) Nigerians deserve to enjoy freedom of opinion and expression and right to seek, receive and impart information through any media; (PWFSONFOU TIPVME CF SFTQPOsible for the welfare of the citizens and should be committed to acts that would eliminate extreme poverty, hunger and deprivation; .PSBM MFBEFSTIJQ VOEFSHJSEFE CZ competence and accountability to the people should form the major guiding criteria for the selection of leaders into position of higher responsibility; /JHFSJBOT TIPVME SFDPHOJ[F UIBU they have duties to their community and are subject to laws which respect general welfare and the rights and freedoms of others; and others. Other solutions likely to solve the issue of insecurity in Nigeria also include the following: Leadership development *U is viewed that Nigeria will have to develop visionary leadership, a leadership that is detribalized such that it has at leadership positions only people who are able to inculcate in their people or followers, the idea of common citizenship as the transcendent factor among all Nigerians, no matter the tribe, gender, religion, economic and social status. *O PUIFS XPSET JU JT JNQFSBUJWF UIBU we have leaders who would not be limited to championing the causes of their home state, tribe, or religious groups, but rather focused on deeds and pronouncements which convincingly and positively impact the entire citizenry of the federal republic” of Nigeria. The argument for this is that such leaders “will help to mold the contending ethnic and religious groups into harmony and help to remove the perceived mutual distrust among them. The process of developing visionary leadership can be challenging, but however, it can be overcome “by using institutions of the Nigerian constitution as a nursery ground to produce leaders with national outlook and with a missionary zeal to transform the nation”. Good governance m (PPE governance is the panacea for the insecurity challenge in Nigeria. The war against insecurity would be won only by raising governance standards; that is, cultivating the culture of good governance where the government is responsible and accountable to the people. Security engagement cannot be separated from HPPE HPWFSOBODF .BOZ PUIFST IBWF also linked security to the governance system. The general view is that peace and security are determined by good governance. However, good governance is a function of effective, visionary, transparent, trustworthy, and credible political leadership whose driving force is an improvement in the collective wellbeing of the citizens through well-conceived, effectively implemented economic policies and human development programs. The underlying principle of good governance is the focus on people as the ultimate objective of governance. The Socio-Economic Development-This factor is strongly considered as the major key to peace and security in Nigeria. The challenge in solving the insecurity problem in Nigeria is to accelerate the QBDF PG EFWFMPQNFOU %FWFMPQNFOU in this context consists of creating an economy with relevant social, economic, and physical infrastructure for business operations and industrial growth, to provide gainful employment, high-level education facilities, and medical care for the people. -Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education.

T H I S D AY ˾ ˜ APRIL 25, 2022

BUSINESS/MONEYGUIDE

Development Investment Bank, DLM Capital Launches Sofri Digital Bank Oluchi Chibuzor Development Investment Bank, DLM Capital Group, has over the weekend announced the launch of its digital bank, Sofri, its one-stop-shop mobile app. This is as the firm noted that Sofri digital bank identifies with the financial hassles of everyday living and portrays an easy access to providing solutions to these problems. The digital bank, available on both Android and IOS stores, according to them, also is designed as a onestop-shop approach to all its users and will include loans, investments, and savings

products. Speaking during the launch, MD/CEO of Sofri, Funsho Idowu said, “The Sofri app is designed to strengthen our commitment to our clients and provide them with access to renewed solutions especially in today’s digital world. This is part of our obligations to consistently provide innovative, simple, and convenient services and to add value to our stakeholders.” He maintained that Sofri is a one-stop-shop digital bank with a vision to become an enabler of financial liberty as well as providing easy access to financial products. “Our digital bank services include savings, deposits, loans, and investments – all tailored

to your persona and needs. Sofri is a subsidiary of DLM Capital Group. Our platform provides Nigerians the opportunity to build their credit profiles and provide a seamless customer services Expressing his excitement, Sofri Brand Ambassador, Samuel Perry A.K.A BrodaShaggi said, “I am excited to be affiliated with a brand like Sofri. We live in a part of the world where there are countless financial frustrations faced daily. Sofri’s pledge to easy these frustrations is a remarkable thing for me and I can’t wait to use my platform to spread the news and inform my fans of the numerous opportunities Sofri presents.”

Premium Trust Bank Set to Open 22 Branches Blessing Ibunge ÓØ ÙÜÞ ËÜÍÙßÜÞ A new commercial bank, Premium Trust Bank, with recent licence of operation from Central Bank of Nigeria (CBN), is set to open 22 branches across the country before the end of 2022. This as the management of the bank has promised to ensure a speedy service delivery to its customers. Speaking during the launch and opening of its first branch in Port Harcourt, Rivers State, the Chief Executive Officer of Premium Trust Bank, Mr. Emmanuel Efe Emefienim, said the bank will provide solutions to peculiar financial challenges of customers through innovation and speed of execution, improving lives, communities and businesses. He explained that the bank will do this through premium service delivery, premium human capital, and premium customer experience. Emefienim also noted that the bank will be co-creating financial solutions with its customers to ensure alignment and seamless adoption at the

stage of product deployment. He disclosed that the bank will open five additional branches within the next 60 days; and then wrap up with a total of 22 branches across the country by end of 2022 He said, “I have said it many times that drawing up strategy in banking is not new. We are not necessarily coming to re-invent the wheel because the banking business especially in Nigeria, has a lot in common. We trade in the same industry and we all have the same regulator; you find out that the industry somehow operates within a boundary. “But then, there’s a differentiating factor; we have realised that while all banks tend to offer the same kind of service, there is something that is unique or different when it comes to execution. Put it this way, a bank takes a position to offer certain kind of service, but then it takes them such a long time to deliver this service. And then, you find another bank come on board, offer the same kind of service, but they deliver it in record time.” “The speed of execution is

something that will speak for us in the industry. We are going to be deliberate about it. We know the people, we know the market, we have the experience; we understand the environment, and we understand the business. “So, when you have strong knowledge of the people, the market and the business, speedy execution comes easy. This is because you are clear about what you want to do. Also add that we are going to leverage on technology to make all of these happen,” Emefienim explained. Emefienim added: “We are not going to come up with products and just dump them on customers; not at all; We will sit with our customers, extract from them what their specific needs are, and then co- create solutions towards meeting those needs. “The customers will be part of the process. This is in the sense that we understand what they want, we sit with them to proffer solutions to those problems, and we come up with products that are tailor-made to solving the problems.

CIBN Donates 160-seater Hall To Ibadan Poly Kemi Olaitan ÓØ ÌËÎËØ The President and Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Bayo Olugbemi, has assured of the resolve of the institute to strengthen banking and finance education in the country through the injection of professionalism into the teaching and learning of the course. Olugbemi who gave the commitment yesterday at The Polytechnic, Ibadan, during the official commissioning ofthe 160-seater “CIBN Bankers Hall,” built for the institution by the Institute, said revamping the educational system in Nigeria is a collective responsibility of all and sundry, irrespective of gender or race. While calling on Nigerians to join hands with government to revamp the educational system in order to set a brighter future for the generations to come, he said the institute is mindful of the fact that government alone might not be able to provide all the funding required to provide quality education especially at tertiary level. According to him, “This

project represents our modest contribution to the development of banking and finance education in Nigeria. The institute is mindful of the fact that government alone may not be able to provide all the funding required to provide quality education especially at tertiary level. “This edifice that is being commissioned today, will be known and called “The CIBN Bankers Hall”. It will serve as the melting pot for the training and development of future ready bankers. The facility is a 160 seater lecture theater, fully furnished and equipped with ultra-modern facilities. “I have no doubt that this structure would serve as an important tool in the delivery of high-quality education to future bankers. I therefore would like to seize this opportunity to urge the students to use the hall responsibly, so it can serve successive generations. “I feel highly elated and excited to address this august gathering on this auspicious occasion. On Monday, October 18, 2021, we gathered at this very spot to perform the groundbreaking ceremony of this beautiful edifice

that is being commissioned today.” “On that day, I did promised that the building would be completed in record time. I am most grateful to God for the completion of the project and for keeping us all alive to witness its commissioning. Indeed, our dream of yesterday has become our reality today. “I congratulate the Governing Council, Management, Staff and Students of The Polytechnic Ibadan, for emerging the best Linkage institution in the South-West geopolitical zone; an accomplishment which afforded the institution the rare privilege of being the beneficiary of the Institute’s Legacy Project in the zone. “Today’s event will remain indelible in the annals of our highly revered Institute and that of The Polytechnic Ibadan, in that the attainment of this feat, is a fulfillment of a dream long conceived.” He also pointed out that the institute embarked on the legacy project across the six geopolitical zones with that of The Polytechnic, Ibadan, the first to be completed and commissioned.

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 APRIL 21

The price of OPEC basket of thirteen crudes stood at $107.97 a barrel on Wednesday, compared with $110.52 the previous day, according to OPEC Secretariat calculations (view archives). 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 ˾ ˜ Ͱͳ˜ ͰͮͰͰ

Adefioye: Lafarge’s N2.00 Dividend Worthy Return to Shareholders Kayode Tokede The Chairman, Lafarge Africa Plc, Prince Adebode Adefioye has stated that the cement manufacturing company’s N2. 00kobo per ordinary of 50 kobo per share total dividend is a worthy return to shareholders who invested in its shares. Adefioye who was speaking to shareholders at the company’s 63rd Annual General Meeting

(AGM) held in Lagos, hinged the company’s success on the rising demand for cement as building and construction activities picked up nationwide. According to him, “The cement industry experienced another year of strong growth, mainly attributable to increased government expenditure on infrastructure and improved real-estate investments by private and commercial home builders.”

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According to Adefioye, the company benefited from these improved market conditions with volume and price growth; with net sales increasing by 27.1per cent compared with the previous year, to close at N293.1 billion. “The positive impact of increased net sales, moderated cost of sales, selling, distribution and administrative expenses amidst inflation and devaluation pressures resulted in improved

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margins recorded for the year. “Through effective governance frameworks, assessments, as well as monitoring and evaluation, we are entrenching a culture of ownership, ethics and corporate responsibility in our activities. We also continue to pursue and leverage strategic partnerships that help sustain value and with a positive impact on our stakeholder groups. We are providing thought leadership initiatives to

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strengthen our voice and position as a foremost company in Nigeria committed to Environmental, Social and Governance (ESG),” he remarked. During the meeting, shareholders unanimously agreed on the proposed total dividend of 200k per share (Interim and Final Dividends) as the company reported a Profit After Tax (PAT) of 51 billion Naira, a 65.4per cent growth as against the previous year’s result.

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While responding to Shareholders during the meeting, Country CEO, Lafarge Africa, Mr. Khaled El Dokani said, “Our 2021 result was a record one and the PAT also was the best profit declared in a decade. Our top-line was mainly driven by volume growth, as well as the price improvement that we have noticed throughout the year, both have contributed to the improvement on our topline compared to last year.”

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MONDAY APRIL 25, 2022 • T H I S D AY

T H I S D AY • MONDAY, APRIL 25, 2022

NEWSXTRA

LAUNCH OF PREMIUM TRUST BANK... L-R; Assistant General Overseer, The Redeemed Christian Church of God, Pastor Johnson Odesola; Senior Pastor Salvation Ministries, Pastor David Ibiyeomie; MD/CEO Premium Trust Bank, Mr. Emmanuel Emeﬁenim; and Rivers State Commissioner for Commerce and Industry, Mrs. Ifeyinwa Nwankpa at the launch of Premium Trust Bank in Port Harcourt …Friday

Falana Lambasts APC, PDP over Outrageous Fees for Nomination Forms Says it's illegal, unconstitutional, calls for cancellation Insists pardon for Dariye, Nyame shows Buhari's laxity towards anti-graft war Accuses president of hypocrisy Alex Enumah in Abuja, Victor Ogunje in Ado Ekiti and Wale Igbintade The two leading political parties – All Progressives Congress (APC) and Peoples Democratic Party (PDP) – have been criticised by human rights activist, Mr. Femi Falana, for fixing huge amounts of money for their expression of interest and nomination forms ahead of the 2023 general election. Falana also joined the growing number of individuals and groups that have condemned the state pardon granted convicted former governor of Plateau State, Joshua Dariye, and ex-Taraba State governor, Jolly Nyame. The senior lawyer maintained that the amounts demanded by APC and

PDP for nomination were not only outrageous, but also unconstitutional, as it would shut out a very high percentage of Nigerians from the electoral process. While APC pegged its nomination and expression of interest forms for the presidential primary election at N100 million, PDP approved N40 million for its own presidential form. For other elective positions, such as governorship, Senate, House of Representatives, and State Houses of Assembly, APC fixed N50 million, N20 million, 10 million, and N2 million, respectively, while PDP fixed N21 million, N3.5 million, N2.5 million and N600, 000, respectively. Falana, in a statement made available to newsmen in Abuja, stated, "Section 87 of the Electoral Act,

NGF: Worsening Insecurity, Currency Depreciation Affecting Business Environment, Taxable Income Ndubuisi Francis in Abuja The Nigeria Governors' Forum (NGF) at the weekend declared that the worsening insecurity in the country and currency depreciation were taking a toll on the business environment with the attendant negative impact on productivity and taxable income. The NGF also alluded to the perceived weak social contract between citizens and the government, saying it continues to threaten the legitimacy of taxation. The Director General, NGF, Mr. Asishana Okauru stated these in Abuja, at a workshop organised by the States’ Fiscal Transparency Accountability and Sustainability (SFTAS) Programme Coordination Unit of the Ministry of Finance, Budget and National Planning. In a presentation titled, "Improving Internally Generated Revenue (IGR): Trend and Emerging Reforms", Okauru observed that Nigeria was still recovering from a combination of adverse fiscal and macroeconomic conditions which had exerted strong pressure on the fiscal sustainability of governments at national and sub-national levels. Okauru, who was represented by the Senior Programme

Manager, NGF/SFTAS, Mr. Lanre Ajogbasile, stated that the adverse fiscal pressure had been primarily due to over dependence on Federation Accounts Allocation Committee (FAAC) transfers which are constantly threatened by the increasing volatility in oil prices and mounting subsidy payments. According to him, "the impact of this has been exacerbated by long years of increases in government permanent expenditures arising from increased cost of governance, new minimum wage and rising debt service." The COVID-19 pandemic, he pointed out, also impacted government spending, economic activities and invariably government’s internally generated revenue, adding that states and FCT IGR shrunk by 2.1 per cent (N28.15 billion) between 2019 and 2020. The NGF Director General stated that the Organisation for Economic Co-operation and Development (OECD) had in 2019 estimated Tax-to-GDP ratio in Nigeria at six per cent. When compared with the average for 30 African countries according to the OECD Revenue Statistics in Africa 2021 report, Okauru stated that the number stood at 16.6 per cent.

which provides for the nomination of candidates by political parties, has not prescribed that aspirants shall pay any fee." According to him, political parties by the law are only permitted to charge administrative fees. He submitted, "By asking the young people to pay N40 million (being 40 per cent of the said N100 million) the APC has made a mockery of the Not Too Young to Run Act enacted by the federal government under its control." He added that the "apparent endorsement of the controversial nomination fees by President Muhammadu Buhari smacks of hypocrisy because in 2014, he had told Nigerians that he had to borrow N27 million to buy his nomination form." The statement also noted that APC's outrageous nomination fees

excluded majority of its alleged 40 million members from participating in the party primary elections. "The APC ought to have realised that by restricting politics to the affairs of fat cats it has violated Article 13(1) of the African Charter on Human and People's Rights (Ratification and Enforcement) Act which states that, ‘Every citizen shall have the right to participate freely in the government of his country, either directly or through freely chosen representatives in accordance with the provisions of the law.’” Falana laid the same charge against PDP, stating that with the national minimum wage of N30,000 per month, the deposit of N100 million or N40 million also excluded millions of workers from contesting presidential election in Nigeria. He said while Nigeria currently housed the second largest population

of poor people in the world, the nomination fees collected from aspirants by APC and PDP were the highest in the world. He claimed the said fees were illegal, citing various court's decision to that effect. Falana said, "Nigerian courts have repeatedly maintained that the Independent National Electoral Commission (INEC) and State Independent Electoral Commissions lack the legal capacity to add to, alter, enlarge, curtail, or repeat the conditions contained in sections 106 and 107 of the constitution, which have covered the field with respect to the qualifications and disqualifications of candidates contesting elections in Nigeria. "Therefore, as political parties are incapable to prescribe conditions for the eligibility of candidates outside the provisions of the constitution the nomination fees of N100 million or

N40 million pegged by the APC and PDP, respectively, are illegal and unconstitutional as they constitute a flagrant violation of sections 40, 106 and 107 of the constitution as well as article 13(1) of the African Charter on Human and Peoples Rights Act. "The illegal, insensitive and immoral nomination fees should be cancelled without any further delay." Falana, who also spoke at his Ilawe Ekiti country home, at a ceremony marking the 10th coronation anniversary of the monarch, Oba Ajibade Alabi, at the weekend, dismissed reasons adduced for the pardon of the former governors by the Council of State. He said, "There are convicts in our prisons who are much older than Jolly Nyame and Joshua Dariye.”

ICPC Alleges National Assembly Illegally Adds about N100bn Annual Constituency Projects

Accuses lawmakers of contract scam Savings from assets recoveries, contract monitoring, others rise by over N29.4bn

Emameh Gabriel in Abuja

The Independent Corrupt Practices and other Related Offences Commission (ICPC) has accused members of the National Assembly of padding annual budgets with constituency projects which were never executed while the budgetary provisions were shared among the members. The Commission also raised alarm about how the lawmakers allegedly diverted monies meant for their Senatorial Districts to other non-existing projects, thereby denying their constituents from benefiting from dividends of democracy. The agency said it has uncovered how the National Assembly illegally added N20 billion to N100 billion annual constituency projects The ICPC said it was also able to save N28,868,621,227.55 billion, N418,326,604.25 million and N209,445,679.80 million respectively for the federal government through its ongoing Constituency and Executive Projects Tracking Exercise (CEPTG).

In a document obtained by THISDAY, the Commission stated that the sum included the estimated value of projects in which contractors were forced to return to sites, remedy defects from substandard construction or for the use of inferior materials as calculated from contract cost, cash recovery made as well as estimated value of physical items recovered as calculated from contract cost. The Commission in the report also raised the alarm over the rise in infractions in appropriation, budget padding, which it alleged was still widely accepted and practiced by members of the National Assembly despite efforts being put in place to check such practices. The ICPC stated this in its 2021 Constituency and Executive Projects Tracking Initiative (CEPTI) report, signed by the Chairman of the Commission, Prof. Bolaji Owasanoye and endorsed by the MacArthur Foundation, with significant discoveries being recorded during the exercise from 2019 to 2021. The document, which was the

outcome of a 3-phase tracking exercise carried out by the ICPC, identified key sectors where several lawmakers from both chambers of the National Assembly, their aides, National Assembly staff, senior officers of executing agencies use subtle influences to appropriate contracts for projects to companies directly or indirectly own by them, their families or associates and how several recoveries were made to the tune of billions of naira both in cash and assets recovery during the period under investigation. The commission collated the list of funded constituency and executive projects submitted by Budget Office of the Federation, Office of the Accountant General of the Federation with focus on key sectors like education, water, agriculture, power, health and empowerment projects. According to the report, the cumulative savings for the government was the estimated value of the sum of its, "recoveries and the estimated cost of all those

projects in which contractors return to sites as a result CEPTG activities.” "The amounts are computed as savings made for Government because these were monies that would been lost/misappropriated save for the Commission's intervention," the Commission noted, adding that valuation reports in subsequent time would provide a definite value. The document revealed that out of the estimated 2321 projects marked for tracking, a total of 1,098 had been tracked. Also, total appropriation for selected projects was N129,440,853,077.61 out of which N70,608,411,299.23 has been released to MDAs, while contract value of projects tracked so far was put at N310,061,892,687.49 The interim report of the Commission also provided an insight on how the National Assembly embedded additional projects into the 2021 mandate budget of MDAs, thereby causing inefficiency in budget performance as well as distorting developmental planning and implementation in the 2021 fiscal year.

T H I S D AY • MONDAY, APRIL 25, 2022

NEWSXTRA

SANWO-OLU INSPECTS THE BLUE LINE RAIL PROJECT… Lagos State Governor, Mr. Babajide Sanwo-Olu in front of a train during an inspection of the Blue Line Rail...yesterday

GBV: Out of 5,100 Cases, Only 16 Have Been Convicted, Says Minister Kuni Tyessi in Abuja The Minister of Women Affairs and Social Development, Paullen Tallen has revealed that out of 5, 100 cases of Gender Based Violence (GBV), only 16 of such cases have been convicted so far, nationwide. Reacting to the rising state of the menace which she said was taking an epidemic level in the country, Tallen who disclosed this during a media briefing in Abuja, at the weekend, further disclosed that while160 of such cases were fatal, 231 were closed, 936 were still ongoing.

Indicting the judicial system over its slow judicial process, Tallen called on the Ministry of Interior to as a matter of urgency, include psychiatric evaluation as prerequisites for marriage. Lamenting that there had been zero allocation for the fight against GBV, the minister said only organisations like the EU and UN Spotlight Initiative have given assistance. In the same vein, she said the domestication of the Violence Against Persons Prohibition (VAPP) Act and the Child Rights Act were not enough

without implementation which she reiterated had been a major problem. She said the Nigerian society must move with the reality of the times as, “we can no longer tolerate wickedness, greed, envy and malicious acts under the guise of culture. "As we are dealing with the case of Osinachi Nwachukwu as one-more-case- too-many of GBV, we were again greeted this time with so many others. "Perpetrators need to be told that Nigeria is a society with Zero Tolerance against GBV. "As a first step to ensuring

that we bring an end to this issue, I will initiate a conversation with the Minister of Interior to ensure that psychiatric test is made

Operatives of the National Drug Law Enforcement Agency (NDLEA) have thwarted plans of drug traffickers to smuggle large quantities of cocaine in teabags into the country through Lagos and Abuja international airports. A statement by the spokesman of NDLEA, Femi Babafemi, yesterday, stated that fresh attempts by Brazil-based drug cartels to smuggle substantial quantities of cocaine into the country through the Nnamdi Azikiwe International Airport, Abuja and Murtala Muhammed International Airport, Lagos, by concealing the Class-A illicit substance in teabags have again been thwarted. He said at least, four traffickers involved in the attempts to import and export illicit drugs through the country in the last week are now in the custody of the antinarcotics agency. He disclosed that one of the traffickers was 33-year-old Pascal Ekene Okolo, who was arrested during an inward clearance of Qatar Airways flight from Sao Paulo via Doha at the arrival hall of the Abuja International Airport on Sunday 17th April. He said Okolo who claimed to be into wine business in Brazil,

was arrested with a travelling bag containing different medicinal teabags, which were used to conceal 4.1 kilogrammes of cocaine. He also disclosed that on the same day, a Canada-based Nigerian, Anigo Godspower, was intercepted at the D-Arrival Hall of the Lagos International Airport, during an inward clearance of passengers on Qatar Airways from Sao Paolo via Doha to Lagos, noting that when his luggage was searched, two blocks of cocaine with a total weight of 2.1 kilogrammes were discovered. He said the 52-year-old Anigo claimed he operated an unregistered Bureau De Change business before delving into the illicit drug trade. Babafemi in the statement, further stated that the bid by another cartel to export 950 grammes of heroin concealed in the soles of lady’s footwears through the MMIA cargo shed was equally foiled by antinarcotics officers who have so far arrested two suspects linked to the crime. He disclosed that those arrested between 16th and 17th April, 2022, in connection with attempt to export the drug to Monrovia, Liberia included: Idokoja Chukwurah and Patrick

Tochukwu. He was quoted to have stated that the NDLEA operatives in raids in Kano, Kaduna, Benue and Akwa Ibom states also seized no less than 88,734 doses of tramadol, pentazocine, diazepam and swinol. “In Kano, Aliyu Usman, 28, was arrested at Railway area of the state capital with 47,000 capsules of tramadol and 2,000 ampules of pentazocine injection on Tuesday 19th April while Saminu Usman, 28, was nabbed with 24,710 tramadol tablets at Gadar Tamburawa area of Kano two days earlier,” it added. He also stated that in Benue, another dealer, Emeka Eze was arrested at an NDLEA checkpoint at Adikpo, Kwande local government area of the state with 10,000 tramadol capsules and 900 tablets of swinol, while in Kaduna state, the duo of Raphael Daniel and David Musa were arrested at Mando park, Kaduna with one kilogramme of cocaine last Thursday. He added that a week after Muhammad Ibrahim sent 12.1 kilogrammes of cannabis from Lagos to Kaduna, operatives were able to trace and arrest him last Thursday and brought him to Kaduna after his consignment was intercepted. Another dealer,

take on marital responsibilities without feeling insecure. We must put an end to the culture of reinforcing male dominance in the society."

Aisha Buhari Made NEDC Reality, Says Dogara Segun Awofadeji in Bauchi The immediate past Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, has asked the federal government to name the headquarters of the North East Development Commission (NEDC) after

Large Quantities of Cocaine in Teabags Seized at Abuja, Lagos Airports Michael Olugbode in Abuja

compulsory as part of marriage requirements in the country. "We must play our part in molding our male children to become better adults who can

Kamilu Ibrahim was also arrested same day at Kargi village in Kubau local government area, Kaduna State with 10.6 kilogrammes cannabis sativa, while Bashir Ibrahim was arrested last Friday after his four consignments containing cannabis sativa weighing 44.6 kilogrammes were intercepted three days earlier along AbujaKaduna express road. In Akwa Ibom state, operatives arrested two female drug dealers: Eno-Obong Edet, 36, and Hossana Ukpong, 28, with various quantities of rohypnol, diazepam, tramadol and cannabis, while a suspected fake security agent was arrested on Saturday in Abuja while moving 23.8 kilogrammes cannabis from Lagos to Maiduguri, Borno state. Chairman/Chief Executive of NDLEA, Brig. Gen. Buba Marwa (Retd) apparent pleased with the development, commended the officers and men of the NAIA, MMIA, Kano, Kaduna, Akwa Ibom and FCT Commands of the agency for sustaining the heat on drug cartels. He, however, charged them and those in other commands across the country to remain vigilant and on the offensive until the last gramme of illicit drugs is taken off the street.

the wife of the President of Nigeria, Aisha Buhari, saying her interventions made the commission a reality. He said save for her intervention, the North East Development Commission Bill, which he sponsored as the Speaker in the 8th Assembly, would have been vetoed. He disclosed this at the State House, Abuja, during the Iftar organised by the First Lady for Presidential aspirants of the various political parties. Dogara recalled that Aisha Buhari's intervention ensured that the Bill was signed into law by President Muhammadu Buhari when some powerful persons tried to block presidential assent to the bill. In a statement made available to THISDAY, yesterday, by Dogara’s Media Aide, Turaki Hassan, the former Speaker called on the management of the NEDC to name its headquarters in Maiduguri, after the First Lady because she singlehandedly contributed to its birth. While calling for more efforts towards achieving affirmative action, he stated: “If women fail in Nigeria, it won't be because of them but because we men are weak. I am making the following proposals in order for us men to walk the talk on affirmative action." He, therefore, advocated for the creation of three State Assembly seats in each senatorial district exclusively for women in each of the 36 states of the federation. Dogara further said the proposal, if adopted and enshrined into the constitution, would provide for a minimum of nine legislative seats in each of the state houses of assembly and 324 across the country. He said: "Through Constitutional Amendment,

we should create three House of Assembly seats per Senatorial district in each State to be exclusively reserved for women. These seats should rotate among the Local Government Councils in each of the Senatorial Districts in alphabetical order. "The proposal guaranteed slots exclusively for women in each State House of Assembly. The Net implication of this proposal is that across Nigeria, women will have 324 guaranteed seats in all State Assemblies in Nigeria as against the prevailing situation whereby some State Assemblies have no single women member. "In addition to this, women are free to contest the other general seats with men but even if they don't win any other seat, each State Assembly must have a minimum of nine women members. "Also it was proposed that one additional House of Representatives seat be created for each State and the FCT which should be exclusively reserved for women. "A total of 37 exclusive seats for women would be created to rotate amongst the three Senatorial zones in each State. This means in each subsequent National Assembly; women are guaranteed an irreducible minimum of 37 seats in the House of Representatives even if they don't win any of the 360 general seats for which they are to compete with men. "The proposal for Senate should be worked out after effectuating the two proposals in (a) and (b) above and assessing how impactful they are. "These commonsense proposals guarantee a minimum total of 361 legislative seats for women across Nigeria."

T H I S D AY • MONDAY, APRIL 25, 2022

NEWSXTRA

UGWUANYI FOR SENATE... L-R: Zonal Chairman, Peoples Democratic Party (PDP), Enugu North Senatorial District, Michael Onyeze; State Deputy Chairman, PDP, Chief Innocent Ezeoha; Governor Ifeanyi Ugwuanyi of Enugu State, and Senator Chukwuka Utazi of Enugu North Senatorial District, during Ugwuanyi's meeting with PDP delegates from the Senatorial District, held in Nsukka… yesterday

2023: Aisha Buhari Advises Presidential Aspirants to Pick Women as Running Mates Canvasses free, fair poll Osinbajo calls on aspirants to imbibe politics without bitterness Deji Elumoye in Abuja The Wife of the President, Aisha Buhari at the weekend met with presidential aspirants drawn from all political parties with a plea on the aspirants to adopt women as their running mates in the forthcoming 2023 presidential poll. This was just as one of the aspirants including Vice President Yemi Osinbajo and Labour Minister, Dr. Chris Ngige, called on fellow aspirants to imbibe doctrine of politics without bitterness and ensure unity among themselves. The First Lady, who hosted the aspirants to Iftar (breaking of fast) at the State House, Abuja, also urged political parties to reserve certain percentage of contestable offices for women. According to her, considering the voting strength and involvement of women in politics, they should be adopted as running mates in the forthcoming elections. “In fact, it is high time women were adopted as running mates at all levels, considering their voting strength and active involvement in political processes. “As we approach the 2023 elections with greater hope, I am confident that Nigeria will continue to grow from strength to strength on the pedestal of our democratic tenets,” she added.

Mrs. Buhari also encouraged the aspirants to ensure that the forthcoming elections are fair and free. According to her, the 2015 presidential election, which her husband, President Muhammadu Buhari, won “was neither contested in the court of law, nor in the court of public opinion. She said: “Therefore, the greatest end-of-tenure gift that fellow Nigerians can give to the first family is another free and globally-acknowledged fair election come 2023". In their goodwill messages, the aspirants urged politicians to avoid politics of acrimony, but rather remember that they do not have any other nation outside Nigeria, even as they called on aspirants to be courageous enough to accept defeat, while also being magnanimous in victory. Osinbajo who was represented by former Governor of Edo state, Oserheimen Osunbor, also described the gathering as, “symbolic” for creating unity, urging all the aspirants to always strive to foster unity amongst Nigerians to contribute towards building the nation. According to him: “The aspirants should learn to practice politics without bitterness and imbibe the spirit of oneness. It is not going to be a do or die affair and it should not be."

On his part, Ngige, called for unity among aspirants, adding that, “If anybody tells you that the way we are playing politics now is the best, it is not true. We have to do a rethink. We need unity, God knows who will take it”. Also speaking, Bauchi state Governor, Bala Mohammed, described the gathering as historic, saying it was only the First Lady, “that could bring me here today.” He commended Mrs. Buhari for her motherly roles in uniting Nigerians, adding that “being

patient has made you to stand out.” Speaking on his ambition, Mohammed said, "I am not saying I am the best, as some of the best are yet to come out. I assure you that I will make sure that we do our game of politicking putting Nigeria first." In his remarks, Governor Dave Umahi of Ebonyi State, commended the First Lady for the well thought out program that attracted people of diverse political backgrounds, saying, “it should be all about our nation and patriotism. We should put

our nation above ourselves. This kind of gathering is going to douse hate speeches. We have to have Nigeria first. This will foster greater unity and put Nigeria first”. Another presidential aspirant, Tein Jack-Rich, urged the young people to join politics to turn around situations “that have held the nation captive, so that we can become voice for the voice less.” According to him, “the destiny of Nigeria is in the hands of all Nigerians, but everything you do is in the hands of future Nigerians.

2023: Jubilation in Nsukka as Utazi Stands Down Senate Bid for Ugwuanyi Enugu North Senatorial District, yesterday, witnessed wild jubilation as its senator, Chukwuka Utazi, formally announced his decision not to contest again in 2023, to pave the way for the smooth and peaceful emergence of Governor Ifeanyi Ugwuanyi as a member of the 10th National Assembly. Utazi, who made the announcement while addressing delegates of the PDP and other stakeholders of the party, said he did not purchase the Expression of Interest and Nomination forms

of the party for the Senatorial seat to give Ugwuanyi, whom he described as "our leader and brother", maximum support. The federal lawmaker added amid jubilation that the decision was also to promote the existing peace in the district in particular and Enugu State in general. "We will follow our brother and leader; we are going to be behind you; and pray that God will guide you to take these decisions. We are here to give you reassurance that it is ordained by God that you

do the things you are supposed to do. “We are here to also reassure that you have our backing. Our case is not just political. The followership and backing are also spiritual. And you have our spiritual backing too. We are going to continue this support at the voting level during the general elections," Senator Utazi said. Earlier, while addressing PDP faithful comprising members of the National and State Assemblies from Enugu

understanding," the statement stated. Mohammed, in a statement by his campaign spokesperson, Prof Udenta Udenta, said, "On Wednesday 20th April, 2022 Gen. Ibrahim Babangida GCFR, through the channel of the platform he inaugurated, announced Senator Bala Mohammed and Senator Bukola Saraki as the selected Consensus Aspirants. "The Senator Bala Mohammed Presidential Campaign Organisation will thus like to place on record its eternal gratitude to President Ibrahim Babangida, GCFR and the entirety of Northern Elders, who assisted him in reaching this decision. "Our deep appreciation to them stems less from the fact that Senator Mohammed is among the two selected consensus aspirants and more on their Labour of thankless

patriotic duty and uncommon leadership in attempting to bring order and coherence to bear in a condition of acute political uncertainty and fractured political process. We thank you our leaders from the depth of our heart. "We wish to place it on record that Gen. Babangida never approached or lobbied anybody to superintend the process that will lead to the emergence of a Consensus Presidential Aspirant. Rather, it was the group of presidential aspirants made up of Senator Bala Mohammed, RT Hon Aminu Tambuwal. Senator Bukola Saraki and Alhaji Mohammed Hayatu-Deen that collectively, freely and willingly approached Gen Babangida to help select from amongst themselves a Consensus Presidential Aspirant.

N E F: W E ’ R E N OT I N VO LV E D I N P D P C O N S E N S U S A R R A N G E M E N T categorically clear to them that for the sake of GOD, that we didn't agree on that; our agreement was that consensus candidate isn't possible, why should we go and suffer that old man again? "And that I will not go to Minna. Why should they be in a hurry. It isn't something urgent. Reconciliation and consensus arrangement can be achieved even lately on the elections ground on the day of election. Why the hurry? Our initial plan was to expand our consultations and make the consensus candidate even at national level before we realised that it isn't possible, even in our group let alone be at national level. "But they insisted we have to go to Minna and discuss the issue with Babangida. They were so in a hurry. And to our surprise, the consensus they agreed on yielded

two candidates, the two of them not even one. That's an indication something fishy is going on, and I understand that already. Go and ask the three of them. We met on Wednesday and we agreed to bury the issue of consensus candidate. "How come Babangida and the Northern elders he invited would impose it on us after all we took ourselves to him, and we later withdrew," he stated. But Saraki, through his media aide, Yusuph Olaniyanu, described the report of the consensus as thorough and painstaking in reaching the decision. The statement stated: "It is a welcome development. The process that eventually led to this decision cannot be faulted. It was painstaking, thorough and transparent. One needs to commend and appreciate the

“The youths will not be used this time around to snatch ballot boxes this time. If anybody want to win elections, you have got to come to the youth.” Also speaking, Kaduna State Governor, Mallam Nasir El Rufai, urged the aspirants not to neglect the North-west. The governor who noted that “Nigeria is at crossroads,” added that, “we need people with experience. I must stress the importance of the north-west zone. Kano, Kaduna and Katsina, if you want to succeed, come and talk to us in the north-west zone."

elders, who worked to actualise the process. "May Allah bless them all. Their decision was based on equity, justice, and need for inclusion of all. Yes, one consensus candidate has not emerged but they have initiated a process, which can help the party later on. The process is a work-in-progress. "One person will still emerge from the on-going process here in the North. The South also has an example to emulate in deciding on the aspirants that should proceed to the primaries considering the zones that have not produced a President before like the South East. "A nation like Nigeria with all the current problems needs consensus building as a way of healing the nation and enlarging grounds of co-operation, unity and

North Senatorial District, the six Council Chairmen, members of the State EXCO from the zone and all the principal officers of the PDP at the Local Government and ward levels, the Zonal Chairman (Enugu North Senatorial District), Rt. Hon. Nze Michael Onyeze, disclosed that the essence of the meeting, which was attended by Ugwuanyi, was to appreciate the governor for his remarkable achievements in Enugu North Senatorial District in particular and the state in general in spite of the nation’s economic challenges and the state's limited resources. "Your Excellency, you have done so well and we are proud of you. Our votes will not miss, even one vote. We will give you 100 per cent support in respect of your choice of successor and other elective positions," he said. The member representing Nsukka/Igbo-Eze South Federal Constituency, Dr. Pat Asadu; the member representing Nsukka East Constituency, Hon. Chinedu Nwamba and the Chairman of Udenu LGA and State Chairman of Association of Local Government of Nigeria (ALGON), Hon. Solomon Onah, on behalf of their colleagues from the zone, respectively, unanimously endorsed the stance of the party, reassuring the governor that they were resolute in their support and loyalty.

MONDAY APRIL 25, 2022 ˾ T H I S D AY

NEWS

MNJTF Troops Kill 26 ISWAP Fighters, Destroy Five Guntrucks in Lake Chad Kingsley Nwezeh in Abuja The troops of the Multinational Joint Task Force (MNJTF), weekend, eliminated 26 Boko Haram and the Islamic State for West Africa Province (ISWAP) fighters during an attack by terrorists in the North Lake Chad. It was gathered that an unconfirmed number of terrorists had attempted to attack the fuel depot in Soudeye locality, located nearby to Borgogorou in Niger Republic on Saturday but were repelled by the Task Force, after more than one hour of heavy gunfire that inflicted casualty on the terrorists. Military sources in Lake Chad, said the task force had pushed back the terrorists before a combined MNJTF Air Task Force comprising Nigeria and Niger carried out multiple airstrikes, scoring accurate hits, which led to the destruction of three guntrucks and all its occupants. The sources said the MNJTF Air Task Force Intelligence, Surveillance and Reconnaissance aircraft trailed the fleeing remnants of the insurgents

and destroyed two additional guntrucks killing its occupants. “We counted 26 bodies, there may be more, because some of the bodies were scattered all over the places. At first, they came in three guntrucks

and we killed all of them and destroyed the three trucks. ISR patrol sighted additional two running away at night and destroyed them too,” said the source. The source added that the

government forces did not suffer any fatalities or casualties. MNJTF Force Commander commended the Task Force for their doggedness as he also charged them to ensure total annihilation of the Boko

Haram/ISWAP in the entire Lake Chad Region. “We’re motivated and ready to keep killing them until they surrender unconditionally in the lake Chad Basin. We believe that remnants of them are the ones

causing most of the problems inside Nigeria but they got inspiration here (Niger) and we must finish them off here that’s the directive from our service chiefs and we must obey,” the force commander said.

COURTESY VISIT…

L-R: Co-founder/ Executive Director, Business Development, TAJ Bank, Sheriff Idi; Managing Director/CEO, Financial Institutions Training Centre (FITC), Ms. Chizor Malize, and Founder/ Managing Director, TAJ Bank, Hamid Joda, during a courtesy visit to the bank in Abuja…recently

2023: Members of Tinubu’s Kogi CP: Police Trailing Killers of Three Officers Political School Advised Not IbrahimOyewaleinLokoja to Contest against Him Segun James

The former Publicity Secretary of the All Progressives Congress (APC) in Lagos State, Joe Igbokwe has advised anyone who graduated from the Senator Bola Ahmed Tinubu’s political school should consider not contesting the presidency with the leader. Igbokwe, who said this at the prayer meeting of the Indomitable Tinubu Support Organisation (ITSO), explained that anyone who has passed through this school and has governed Lagos State has the capacity to govern Nigeria, insisted, however, that the leader should have the chance of first refusal. “I’m a graduate of this school and I know the value. For this reason, I’m a Nigerian and proudly so. Hence, we cannot trust our country to the hands of someone without experience, a mediocre. Let

me make it clear, anyone who has ruled Lagos can rule Nigeria,” he said. Igbokwe, who is the Special Adviser to Governor Babajide Sanwo-Olu on Drainages, said that if the nation is to take its place in the comity of nations, Tinubu should be allowed to take the saddle as president of Nigeria. “The only leader we know that is capable of taking Nigeria to the next level is Asiwaju. He’s a teacher on matters of governance. We need to use him now. I know the number of leaders he has built,” he stressed. Earlier, the chairman of the event, Prince Anofi Elegushi, had said that while others were sleeping and waiting on others to anoint them, Tinubu who is said to be infirm has been going around the country building bridges across the political divides in the country.

Kogi State Commissioner of Police (CP), Edward Egbuka has vowed to trail the perpetrators of the attacks on a Police Divisional Station and killing of three police in Adavi Local Government Area of the state to bring them to book. The unknown gunmen had early hours of Saturday attacked the Divisional Police Station killing three officers.

This was contained in a press statement signed by the Police Public Relations Officer, SP William Aya copy of which was made available to newsmen in Lokoja. Egbuka explained that he had deployed a team of tactical operatives to the area and restored normalcy while trailing the hoodlums to apprehend and bring them to book. The CP called on the people of Adavi and the adjoining

communities to be on the lookout and report anybody seen with bullet wounds to the Police or any other security forces nearest to them. He, therefore, directed the Deputy Commissioner of Police, Investigation Units to commence an investigation into the incident. Aya explained that the Command has received a report of the unfortunate incident at Adavi Police Division where

some hoodlums attacked the station from the opposite direction shooting sporadically, noting that the hoodlums were repelled by the men on duty and operatives of the Quick Response Unit who were on special operations at the Local Government. “However, the Command lost three of its officers during the gun duel, while the hoodlums fled with gunshot wounds as they could not get access to the Station.

2023: Saraki Harps on Unity to Ensure PDP’s Victory in Kwara Hammed ShittuinIlorin Former Senate President, Dr. Abubakar Bukola Saraki, at the weekend said the time has come for members of the Peoples Democratic Party (PDP) in Kwara State to unite and secure victory in the 2023 general election. Also at the weekend, former Minister of Youths and Sports, Mallam Bolaji Abdullahi, emerged as the consensus candidate of the

PDP for Kwara Central senatorial district following the withdrawal of the former National Chairman of PDP, Alhaji Abubakar Kawu Baraje, from the race. Saraki, however, said it is paramount for the PDP to secure victory in 2023 for the good of its members and the entire people of the state. The PDP presidential hopeful in Ilorin stated these while addressing all PDP aspirants in the state at a

meeting. Saraki commended stakeholders, aspirants and their supporters for their cooperation so far, but said a lot still needs to be done to ensure that their efforts do not end in vain. He said: “As aspirants, you made commitments, promises and now is the time to stand by your words.” The PDP national leader added that not just the aspirants, but all members must ensure that all hands are on deck to guarantee

the party’s victory in next year’s elections. “We need everyone to win this battle, as prosperity and development abound when the PDP forms the government in Kwara State and Nigeria,” he said. Saraki, who emerged as the PDP consensus candidate from the northern axis on Friday, also appealed to stakeholders to be just, fair and unbiased in the emergence of candidates of the party.

FAAN to Introduce Park, Don’t Allow Political Schemers to Divide Us, Abe Urges APC Members want another partner, I will respect (BATSV), was reacting people. Pay Policy at Abuja Airport BlessingIbungeinPortHarcourt Vanguard He warned that the APC should their decision. to the recent endorsement of Tonye

Kasim SumainainAbuja

The Federal Airport Authority of Nigeria (FAAN), yesterday hinted its readiness to introduce a park and pay policy for motorists at the Nnamdi Azikiwe International Airport (NAIA), Abuja. The move, according to the agency, was part of the efforts to sanitise activities and bring sanity at the airport. The Manager/Regional General Manager North Central, Mr. Kabir Mohammed, disclosed this while speaking to the executive members of the Abuja Transportation and Aviation Correspondents Association (ATACA). Mohammed, who was deployed to head the Abuja Airport on March 10, 2022, further said the

introduction of the park and pay at the airport would address the problems of touts, who go about harassing and extorting innocent drivers who bring in passengers at the airport. He also said as part of the ongoing reorganisation at the airport, the rowdy taxi drivers and the illegal businesses going on at the front of the departure hall at the airport would be addressed. Also, to curb the issue of the traffic jam at the toll gate of the airport, which have been affecting staff, airport users and passengers, the airport manager has commissioned a taskforce which constitutes of himself and head of departments to supervise at the toll gate on a daily basis with the sole aim of managing the inflow of traffic into airport.

A governorship aspirant under the All Progressives Congress (APC) in Rivers State, Senator Magnus Abe, has advised members of the party not to allow political schemers to divide them. Abe, who spoke yesterday in Okrika during the inauguration of Bola Ahmed Tinubu Support

Cole as the consensus aspirant of the party ahead of the 2023 governorship election in Rivers State. The former member of the House of Representatives for the Rivers South East Senatorial District insisted that he is the best candidate that could return sanity in the state and rekindle the hope of the Rivers

not make mistakes that would cost the party participation in the last election in the state. Abe said: “I have come out to say very clearly that I will stand for the office of governor of Rivers State. And I will present myself to rivers people. If Rivers people say that they do not want me and they

“If you choose the wrong partner, you will continue to suffer. But I am a democrat. If there is a process by which our people make a decision and it is not me, I will respect their decision. But if people go and gather and do kangaroo meetings and say it is this person or that person, I will not agree.

2023: I’m Still Waiting on God for Successor, Says Okowa

Omon-Julius Onabu in Asaba

Contrary to widespread speculation that he had anointed a possible successor, the Delta State Governor, Dr. Ifeanyi Okowa, yesterday reiterated his earlier assertion that he is still waiting on God to determine who would take over from him

on May 29, 2023. Okowa said that usurping the place of God Almighty to personally choose his successor would amount to “lording it over the people,” adding that he remained focused on delivering good governance up to the finish line on May 29, 2023. Okowa, who spoke yesterday

at the 70th birthday anniversary thanksgiving service of Mr. Oritsetimeyin Adams, at Cathedral Church of St. Luke’s Anglican Church, Sapele, urged church leaders and the people to continue to pray that God would give the state a good person as his successor. He said: “I thank the

Church and our leaders for their consistent prayers for our dear state because it is not about us, men, but about what God wants. “So, pray that whoever God wants will be governor, and may that person He wants emerge as governor for the good of Deltans.

MONDAY APRIL 25, 2022˾ T H I S D AY

NEWSXTRA

Police Allegedly Kill Village Head, Two Others in Ondo Fidelis David in Akure Youths of Kajola Community, in Odigbo Local Government Area of Ondo State yesterday trooped out in large numbers to burn the police station in the area over police recklessness, leading to the death of three persons including a community chief (baale). THISDAY gathered that the victims, David Olowofeyekun, Gbenga Abayomi and Kola Akinduro, who was the Head of Korede Village, were on a motorcycle and heading home from their farms before they were allegedly killed by police at a checkpoints along Lagos/ Benin Expressway on Saturday evening. The angry mob thronged the Police Divisional Headquarters in Kajola for killing their indigenes. They dumped the three corpses at the Police Divisional Headquarters, Kajola, protest songs to register their grievances, saying they do not want to see police in the community again. Sources in the community narrated that the police officers in the community were fond of extorting and harassing the residents of the areas at the checkpoint despite the order by the Commissioner of Police to dismantle all checkpoints in

the state. Meanwhile, this is coming despite the order by the Commissioner of Police in the state, Mr. Oyeyemi Oyediran, that all police road blocks and checkpoints to be dismantle immediately he was transferred

to the state. An eyewitness, Funmi Olowogboye, recounted that the police stopped the deceased at the checkpoint on Saturday evening and while trying to halt an oncoming hilux van, the driver maneuvered to dodge the police

and ran into the motorcycle. Olowogboye lamented that the hilux driver crushed the three victims on the motorcycle where they were parking at the instruction of the police officers, who wanted to collect money from them; and they died on

the spot. He, alongside other sources, who spoke with journalists at the police station yesterday, identified a notorious police officer, popularly called ‘Major’, as the leader of the extortion squad on the highway and community at

large. They demanded that the police officer, be transferred out of the community, revealing that he has spent over 17 years in the area without transfer due to the atrocities he committed in the area to make more money.

INFRASTRUCTURE PARTNERSHIP DEAL…

L-R: Managing Director, LandWey, Ms. Shola Bello; Group Chief Executive Officer, Oxygen Holdings, Mr. Olawale Ayilara; Chairman, Zenith Construction Ltd, Mr. Antoine Moudaber; and Chief Operating Officer, LandWey, Ms. Seun Eyitayo, at the signing of infrastructure partnership in Lekki, Lagos…recently ETOP UKUTT

Oyetola: Why I’ll Be Re- ‘Ekiti Voters will Abort Oni’s Re-election Bid’ elected as Osun Governor Victor OgunjeinAdo-Ekiti

Yinka Kolawole inOsogbo Osun State Governor, Gboyega Oyetola, has stated that keeping to the promises he made with people of the state in the last three and half years of his administration within the limited resources will give him victory in the forthcoming July 16 governorship election in the state. The governor stated this yesterday during an engagement programme organised by the state Civic Engagement Centre with the Association of Master Bakers Osun State chapter in Osogbo. Oyetola, who was represented at the event by his Special Adviser on Civic Engagement, Mr. Olatunbosun Oyintiloye, said the masses could testify to his achievements in all areas, which

would make them support his re-election. Oyetola said with the available meagre resources accrued to the state, he had turned the economy of the state around positively for the benefit of those who elected him. The governor, who described the masses as the pillar of his administration since inception, said he would continue to make sacrifices that would make life more comfortable for them. Oyetola also said he remains the candidate to beat in the election, adding that the state belongs to the progressives, and nothing can change the status quo. “My re-election is God’s project because the masses are behind me and they will return me to office in the next election.

‘Religious Leaders Must Speak against Social Vices’ Oluchi Chibuzor As the country continues to face growing challenges of various social vices, the need for religious leaders to become an active voice against these trends has been emphasised. Giving his voice against this trends over the weekend, the convener, Mission to West Africa (MTWA), John Enelamah, said the churches must realise that they are God’s partner in transforming the society, hence the need to promote righteousness in line with their calling as shepherds. According to him, “The mission is to raise a new generation of pastors who will not use ministry for business to make money or who are trying to build the biggest churches in the world at the expense of God. “The Church is God’s partner

to transform the society; so the pastors themselves must become God’s spokesmen by speaking the truth. “When pastors understand their role in the society, it means to shepherd the society; to teach values, principles, character. It is not to tell people that if you raise your hand you’ll become rich or if you do this or that, no, that is not the calling of the pastor.” Also, the executive director, Apostles in The Market Place, said the conference is borne out of a burden and desire to put the gospel of the kingdom of God at the centre stage in Nigeria. He maintained that “people will naturally cut corners when they are in a hurry to make money, and can even kill family members in the process. Hence, the pastor is to help people take the values of God.

Oyebanji Campaign Organisation in Ekiti State, Hon. Cyril Fasuyi, has boasted that the state voters will abort the reelection bid of the Social Democratic Party’s candidate, Segun Oni, in the June 18 governorship poll. In the same fashion, Fasuyi added that the candidate of the Peoples Democratic Party (PDP), Bisi Kolawole would meet “his waterloo on election

day,” describing him as lacking requisite experience to govern the state. He said his party (APC) was neither threatened nor rattled by the SDP and PDP candidates, noting that the APC was firmly on ground and well-fortified to win the impending election with wide margin. The APC campaign DG stated this yesterday at Ido-Ekiti, while addressing party’s executives from the wards in Ido/Osi Local Government Area of

the state. He said the outstanding performance of the APC-led government under Governor Kayode Fayemi and Oyebanji intimidating credentials are good enough to speak for the party in the coming election. Fasuyi declared that the APC would record a landslide victory in the election, calling on electorate to reject the SDP and PDP because they lacked the in-built capacity to make life abundant for them.

He said: “The SDP candidate, Chief Segun Oni, had had his times managing the affairs of the state and failed woefully to make meaningful impacts in the lives of the people. “Go round the state, Oni and his party lacked the structures and wherewithal to secure victory in the poll, but APC is strong and well-entrenched across the 177 wards in the state. So, we are undaunted and waiting to make surprises in this election.”

Support Security Agencies in Fight against Insecurity, Kaduna CP Tells Religious Groups John Shiklam in Kaduna The Kaduna State Police Commissioner, Mr. Yekeen Ayoku, has called on religious organisations and communities to join hands with the police and other security agencies to tackle security challenges bedeviling the state. The police commissioner made

the call at the weekend when a delegation of Ansar-ud-Deen Society, Kaduna branch, paid him a courtesy visit in his office in Kaduna. Ayoku said: “The security challenges facing Kaduna State and Nigeria require multidimensional solutions,” noting that while the community can assist security

agencies with vital information, religious bodies can also help with prayers. “We all know the challenges here, so please do your best to make it better. We have been sent here to work and we would do the work. “Security is a collective responsibility, so please join hands

with us and do whatever you can to assist with the security of the state. “You can intercede for us in prayer to ensure we resolve the security challenges in the state and country,” he said. Ayoku said the police would work assiduously to make sure that security in Kaduna State improves.

INEC Lifts Voter Registration Suspension in Imo The Independent National Electoral Commission has agreed to lift the suspension on Continuous Voter Registration(CVR) which was placed following the attack by gunmen on its staff in Imo State. INEC had suspended the CVR registration citing insecurity and loss of life of its personnel during the attack. However, a statement issued

by the Chief Press Secretary to Governor Hope Uzodinma, Oguwike Nwachukwu, said the governor had intervened and INEC would commence the exercise today. According to the statement, the governor announced this at the end of a church service at the Government House Chapel Owerri as Catholics mark their

2022 Mothering Sunday. The governor said his intervention became necessary to allow Imo citizens register and obtain their Permanent Voter Cards before the next general election. Uzodinma said: “By Monday, April 25 2022 the CVR will resume in all the designated centres while the three Local Government under ban will carry out the registration

at their Local Government Headquarters “Those who are deliberately scaring the people away from registering are enemies of the State who want to draw the State back knowing full well that the INEC registration and the population census are yardsticks for Federal Revenue Allocation to States and Local Governments.

Edo Partners Nigerian Physicians in the Americas for Free Medicare Adibe EmenyonuinBeninCity The Edo State Government, in collaboration with the Association of Nigerians Physicians in the Americas (ANPA), yesterday, disclosed that about 4,000 persons have been screened for various ailments and would be treated

during the ongoing free medical outreach programme in the state. Addressing journalists in a press conference to announce the commencement of the programme, the Edo State Commissioner for Health, Professor Obehi Akoria, said that the ANPA programme has 65 American-based Nigerians in

collaboration with about 200 Edo-based medical experts and 2,000 nonmedical personnel who would attend to over 4,000 persons that have been screened across the state. “We have screened around 4,000 people. About 600 persons have been screened for surgeries while about 300 persons are ready

to be operated upon, all for free. “Also, we would have about 3,000 reading glasses or glasses for other purposes distributed for free to Edo citizens as a result of the medical mission,” Akoria said. The President of ANPA, Mr. Christopher Okunseri, said the association’s drive is a healthier Nigeria for a healthier world.

MONDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Osimhen’s Title Hope with Napoli Dims as Empoli Win Comeback

Femi Solaja with agency report Super Eagles’ inform striker Victor Osimhen’s ambition of winning the Serie A title this season with Napoli may have varnished after they suffered a huge blow in the 2-3 defeat at Empoli last night. The Nigerian forward played all 90 minutes with no goal and it was Dries Mertens and Lorenzo Insigne that put the away side two goals up before the home side rallied back late in the second half with a dramatic win. Napoli are yet to record title win since late Diego Maradona era almost 32 years ago and their two wins were in 1987 and 1990 when former Argentine legend, Maradona led the side to edge out AC Milan and Juventus respectively for the coveted

SERIE A trophy. But yesterday, Empoli without a victory in their previous 16 league games before Napoli's visit, did the unexpected. Luciano Spalletti's side who were expected to get the victory that would have seen them keep pace with league leaders Inter Milanand AC Milan, slumped. They were even more overwhelming favourites after a fine finish from Dries Mertens in the first half, and captain Lorenzo Insigne's effort eight minutes into the second period put them in firm control. Napoli held the lead until the 80th minute when they inexplicably left Liam Henderson

all alone to get the hosts back in the game, before a goalkeeping howler from Alex Meret let Andrea Pinamonti in to level three minutes later. The drama, however, was not done yet. Pinamonti slid in at the far post three minutes from time to send the home fans into

delirious rapture. That defeat leaves Napoli defenders looking at each other wondering how they had thrown this encounter away. The defeat leaves Napoli third in the standings, without a win in three league games, and five points behind Inter having played

a game more. Empoli stay 14th despite that rare victory. Meanwhile, Osimhen’s dream of playing in the UEFA Champions League may have put on hold any possibility of him joining Arsenal this summer. The Nigerian international, who has been on the radar of the

Gunners this season, has scored 16 goals from 28 appearances in all competitions for Napoli. According toLa Gazzetta dello Sport, the Super Eagles star’s desire to play in Europe’s elite competition remains a major reason why he has not committed himself to the deal.

Ajala Rules at 2nd DSTv Premium Golf Day Femi Ajala on Saturday saw off the challenge of over 100 other golfers to win the star prize at the second edition of the DStv Premium Golf Day, which held at Ikeja Golf Club. Ajala's stellar outing earned him a business class flight ticket to Dubai for a weekend stay at a five-star hotel, one-year free DStv Premium package subscription. He also won, courtesy of soft drinks bottling giants, Pepsi, a 12-month supply of Pepsi and Aquafina bottle water. The second prize at the event went to Jimoh Ogundare, who earned a business class ticket to a five-star hotel in Kigali, Rwanda; while the third went to Tony Onwu for a weekend stay at the swanky Marriott Hotel, Lagos. In his address at the dinner held to round off the event, Ikeja Golf Club Captain, Mr Taiwo Joda, thanked DStv and and Pepsi for supporting the tournament. He urged them to adopt the Ikeja Golf Club as the primary location for the DStv Premium Golf tournament. Head of Marketing, MultiChoice Nigeria, Mr. Tope Osunkeye, congratulated the participants for a successful outing and assured the Ikeja Golf Club of his company’s commitment to the partnership. “We are happy to be intimately involved with Ikeja Golf Club. We hope to continue to expand the scope and diversity of this

event and like you can see the SuperSport channel is present. We hope to continue to forge this partnership,” Osunkeye said. The Chief Marketing Manager, 7up Bottling Company, Norden Thurston, also expressed delight at being associated with the event. “The reason we are here is because we believe so much in partnerships and friendships. We have had a strong partnership with DStv for a number of years sponsoring Big Brother Naija. “More importantly, Pepsi wants to grow a partnership with the Ikeja Golf Club. So, I hope this is one of the many events we are going to have here," said Thurston. He added that his company’s values align with Ikeja Golf Club’s motto "Half a century of growing friendships through Golf" Pepsi also announced a special prize of 12-month supply of Pepsi and Aquafina bottle water to be given to Mrs Edna Aguslo who emerged winner of the Nearest to the Pin in the Ladies category. Abiodun Savage and Yomi Williams who placed 62nd and 26th were also gifted a 12-month supply of Pepsi and Aquafina bottle water. The event was not solely about golf, as the prize giving dinner was marked by rich musical entertainment provided, with the support of Pepsi, by top-notch live musical ensemble, Storm Band, and A-list disc jockey, DJ Xclusive.

Victor Osimhen (right) ﬁred blanks yesterday as Empoli came back from two goals down to beat Napoli 3-2

NPFL: Ayeni Insists Akwa Utd Still Work in Progress Despite Victory Over Lobi Akwa United turn of good form in the second half of the season continued with another home win against Lobi Stars and Coach Deji Ayeni insists his club’s current form was expected but still work in progress. Speaking after his side’s lone goal triumph against Lobi Stars in a MatchDay 25 fixture played at the Godswill Akpabio Stadium on Sunday, Ayeni confessed that he was overwhelmed by the outcome of his first six games. He praised his players for maintaining a high degree of consistency and being focused. “We are happy with the result, but I still maintain that the team is still a work in progress. We are not there yet. In the situation we

have found ourselves, the fans desire more, and we must do our best to meet their aspirations. I think we can assess the team better after matchday 30”, he said. Ayeni, who joined the Promise Keepers in mid-season, has not suffered a defeat since the MatchDay 20 draw at home to Rivers United, with the 6-1 bashing of Nasarawa United top of the

list of results he has amassed for the Uyo side since taking over from Kennedy Boboye. Bello Babatunde’s stunning effort from the edge of the area in 37 minutes was all Akwa United needed to see off Lobi Stars of Makurdi. Despite dominating possession for most of the second half, Lobi Stars could not secure the equalizer that could have put

them level on points with Dakkada FC and Abia Warriors. The result propelled Akwa United to 5th on the log, pending the outcome of Sunshine Stars’ date away to Kano Pillars in Abuja. Lobi are two points above the relegation zone but could end the MatchDay in the drop zone if Kano Pillars and Heartland FC win their respective fixtures today.

Moses Simon Lifts Nantes over Bordeaux

Moses Simon grabbed his fourth goal of the season for FC Nantes to edge past Bordeaux 5-3 in Ligue 1 yesterday. The Super Eagles winger scored his team’s fourth goal in the 76th minute to make it 4-3 after visitors Bordeaux had raced to a 2-0 lead in the first half. Nantes are 10th on the log on 50 points from 34 games.

LIGUE 1 Elsewhere, Gerson struck a late winner as Marseille beat Reims 1-0 away in Ligue 1 on Sunday, while Rennes shrugged off backto-back losses to direct rivals for a Champions League spot by crushing Lorient to reclaim third place. Brazil international Gerson came

off the bench to grab the only goal seven minutes from time and keep Jorge Sampaoli's side six points clear of the chasing pack in second. They remain well placed to take France's only other automatic qualifying berth for next season's Champions League, but still have to play Lyon, Rennes and Strasbourg in three of their four remaining games.

Tuchel Confirms Rudiger to Leave Chelsea

L-R - Head of Marketing, MultiChoice Nigeria, Mr. Tope Oshunkeye; Dr. Biyi Ogunbamjo, winner, maiden DStv Premium Golf tournament; Mr. Femi Ajala, ﬁrst prize winner, DStv Premium Golf tournament; Mr. Taiwo Joda, Captain, Ikeja Golf Club and Chief Marketing Manager, 7Up Bottling Company, Norden Thurston, at the second edition of the DStv Premium Golf Day event on Saturday in Lagos

Thomas Tuchel has revealed Germany defender Antonio Rudiger will leave Chelsea when his contract expires at the end of this season. Tuchel had hoped to persuade Rudiger to stay at Stamford Bridge, but the centre-back has opted to end his five-year spell with the Premier League club. Chelsea’s attempts to keep Rudiger were hampered by the British government’s sanctions on Russian owner Roman Abramovich, which included a rule that existing players could not sign new contracts. The Blues are believed to have

made a contract offer to Rudiger prior to the sanctions, but the deal was never finalised after a request was reportedly made for large signing-on and agent fees. The 29-year-old, who arrived in west London from Roma in 2017, is reported to be keen on a move to Real Madrid, with Barcelona, Bayern Munich and Paris SaintGermain also interested in offering him a lucrative free agent deal. “Toni, the media is on it. The situation is that he wants to leave the club. He informed me of this is in a private talk,” Tuchel said after Sunday’s 1-0 win against West Ham.

Antonio Rudiger...conﬁrmed to leave Chelsea

Monday, April 25, 2022

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MISSILE Bishop Kukah to Adesina, Shehu

“I’m aware of the state of mind of Femi Adesina and Garba Shehu…Unless Shehu is ready to convert to Christianity, he quoted some Bible passages but he misinterpreted it, which is very embarrassing. But the one that surprised and embarrassed me most is that of Adesina who is a member of Foursquare Church that was unable to help his friend put facts together” – Bishop Matthew Kukah, responding to the Presidency’s reaction to his Easter message recently.

MAHMUDJEGA VIEW FROM THE GALLERY

N100m for the Starting Line A

n American political scientist once wrote that “money is not everything in American politics but without it, you cannot get far from the starting line.” In Nigerian politics, damn it, you cannot even get near the starting line without money. Last week, the ruling All Progressives Congress [APC] announced that its presidential “expression of interest” and “nomination” forms will go for N30m and N70m each, a princely total of N100m. Governorship aspirants’ forms will cost N50m, senatorial election forms will cost N25m, House of Representatives and State Assembly forms will cost N10m and N2m respectively. N100m is a lot of money in Nigeria. The president’s monthly salary is N2.5m, so after buying the form for N100m, assuming you succeed in winning the nomination and the main election, it will take you 40 months to retrieve the cost of your form alone. That’s 83% of your entire first term in office. Unless there is something to it that we don’t know, your gain is only 8 months’ salary for the whole tenure. Chairman of the main opposition PDP Dr. Iorchia Ayu cried blue murder over the cost of APC forms, saying it indicated corruption and that anyone who bought a nomination form for that amount should be probed. Not that PDP is much cleaner in this matter. It has already been selling presidential nomination forms for N40m each, or 16 months of a president’s salary. I think those who come to political equity, must come with dry hands. Why do these forms cost so much? Afterall, they don’t guarantee that you will get the party’s ticket, since many other people also bought the forms at the same amount. The ostensible reason is in order to prune down the number of aspirants. As at last week, 15 people were known to have declared their intention to seek APC’s presidential ticket. That number did not include two potentially big masquerades, including a former president and the man in charge of the country’s money. If you ask me, 15 or even 17 is not too big a number that must be pruned down, except that if the party does not prescribe some difficult hurdles, the number of aspirants could swell to 100 or more. We experienced this in Nigeria from 2003 when the courts forced INEC to remove difficult hurdles and set a very low bar for party registration. Within a few years we had nearly 100 registered political parties. Unless some stringent measures are put in place, many frivolous aspirants would go and collect the forms and the ballot paper could become unduly elongated. Since APC has chosen the indirect mode of primaries and since it also ruled out consensus option in choosing its flagbearers, it has to watch the length of the ballot paper, lest some semi-literate delegates get confused. Now, the measures that could be put in place to prune the number of aspirants need

Adamu

not be financial. It could be stipulated, for example, that an aspirant’s nomination form must be endorsed by a certain number of registered party members, or by a certain number of senators, state or national party officers etc. If you want to make things really difficult, you can say the form must be endorsed by two state governors, four serving ministers, Senate President or House Speaker, ten senators, 20 House of Reps members, a former elected President etc. Just like when the courts sometimes demand that a bail applicant must get a First Class traditional ruler, a Bishop or the Chief Imam of a Friday mosque to stand as his surety. When Nnamdi Kanu said his religion was Judaism, the High Court demanded a Rabbi as one of his sureties! The other, less advertised reason is that sale of nomination forms is the party’s best opportunity to make a lot of money, which should last it through the next election and well beyond, until the 2027 election season comes round. This will make party officers less likely to go cap in hand to governors and presidents for money. Although the

major parties claim to have millions of members, 99% of them do not pay any membership fees. Instead, they expect to be paid by the party and its candidates for pasting posters on the streets, shouting themselves hoarse at rallies, engaging in street brawls and for serving as agents at polling stations. The Electoral Act has pegged the money that a presidential candidate can spend in his entire campaign at N5 billion. 2% of this amount has been gulped by the nomination form alone, when the runner in a long distance race is still standing on the starting line, waiting for the pistol to be fired. Outrageous though most Nigerians think these nomination form fees are, they are really less than the “I” of introduction in terms of political spending. Although every major aspirant claims that some associates or supporters bought the forms for him, that is a political stunt in order to prove alleged popularity. In Nigeria, you see a group of kobo less young men and women presenting a N100m form which they say they bought for an aspirant. Anyone who pays N100m just to get on the starting line of the presidential race, must have lined up billions in order to run the distance. This race is a sprint, middle distance, long distance, hurdles, obstacle race and marathon all rolled into one. An aspirant must go round the country making “consultations,” by air, since kidnappers lurk along most highways, in a private or chartered plane, in order to impress voters. In truth, political consultation is a one-way monologue. At no state party office, traditional ruler’s palace, elder statesman’s house or newspaper newsroom will anyone tell you not to run during your round of consultation. All you will hear are royal blessings, conferment of traditional titles, clerics’ prayers, cheering party members and fawning editors. Just remember to “drop something” at each place. Consultation is for starters. An aspirant must then build a nationwide campaign structure. Since the fight for delegates at the nominating convention [as NPN once described it in 1978] is state by state, a state

The Electoral Act has pegged the money that a presidential candidate can spend in his entire campaign at N5 billion. 2% of this amount has been gulped by the nomination form alone, when the runner in a long distance race is still standing on the starting line, waiting for the pistol to be ﬁred

campaign team’s most important task is how to woo delegates over to its aspirant’s corner. This is not easy in so far as most state delegates tend to vote en bloc, usually at the say so of a governor or a powerful godfather. The main trick therefore is to get the governor or godfather to support your aspirant, and you have got the whole state’s delegates. There is a Hausa saying that even if you are handsome, you must still take bath. Despite the godfather’s support, an aspirant’s campaign team must stick up posters, do much publicity, arrange for their aspirant’s visit and follow the delegates home with souvenirs. Governorship and senatorial aspirants, especially, must do a lot of sharing of “palliatives,” such as during the Ramadan, Sallah, Easter and Christmas seasons. It is clear violation of the Electoral Act but somehow, we see whole truckloads of essenco being dispatched to various towns and local governments, allegedly “to cushion the effects of the harsh economic situation” in the country. Then there is what an aspirant’s campaign workers call “tools of work.” These include vehicles, motorcycles, posters, souvenirs and a lot of money. An aspirant must be careful lest campaign workers confuse primary election with general election. In the primaries an aspirant is only after delegates but campaign workers will direct him to shower gifts on clerics, elders, royal fathers and assorted party members who are not convention delegates. Then there is the tricky element called media and publicity. In a large country of 37 states and 200 million people, most people’s knowledge of a presidential aspirant is through the media, traditional and social, hence the importance of publicity. There is also a lot of demarketing and media ambush in politics. A single carefully placed social media rumour could wreck many years of hard political effort and leave an aspirant gasping for breath. And then, when the convention finally comes around, a serious aspirant must arrange hotel accommodation for delegates. A really powerful presidential or governorship aspirant could spirit away the delegates of a whole state or local government, days or weeks to the convention, and hide them in a secret location, beyond the reach of his rivals. At the convention city, aspirants and their agents run around from one state delegation to another, making promises and dishing out money. This is quite often a wild goose chase because Nigerian convention delegates are very greedy and they collect money from every aspirant, even though they already knew before they left their state who they will vote for, at the behest of a godfather. Paying N100m for forms is just to enable you to stand at the race’s starting line. It is “I” of introduction in political spending, the N5billion limit in the Electoral Act be damned.

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