WEDNESDAY 25TH MAY 2022 by THISDAY Newspapers Ltd

Citing Inflationary Concerns, CBN Raises MPR to 13%, First Increase in 30 Months Says action aimed at supporting economic growth, price stability

James Emejo and Nume Ekeghe in Abuja

After holding the Monetary Policy Rate (MPR) constant at 11.5 per cent for about two and

a half years, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), yesterday,

raised the benchmark interest rate by 150 basis points to 13 per cent in response to global inflationary

pressures, which had continued to hurt economies around the world. The MPR is the rate at which

the apex bank lends to commercial Continued on page 10

Atiku: Why I’m Seeking to Be Nigeria’s President in 2023…Page 10 Wednesday 25 May, 2022 Vol 27. No 9906. Price: N250

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Terrorists Threaten to Kill Kidnapped Abuja-Kaduna Train Passengers, Issue FG Seven Days Ultimatum... Page 6

Sporadic Gunshots as EFCC Forcibly Arrests Okorocha for Jumping Bail Anti-graft agency explains action It's attempt to truncate my presidential ambition, says former governor Kingsley Nwezeh in Abuja Policemen attached to the Economic and Financial Crimes Commission (EFCC) fired gunshots at the resi-

dence of former Imo State Governor, Rochas Okorocha, yesterday, as the commission moved to forcibly arrest him for jumping bail and refusing EFCC's invitation.

In a commando operation, the operatives broke down the doors of Okorocha’s residence with heavy equipment and large stones, shattering the building’s ceilings and

glass panels in the process. One of the sons of the senator for Imo West Senatorial District was injured in the stampede that ensued following a sustained standoff

between Okorocha’s supporters and security personnel. The police also fired teargas to disperse the supporters of the presidential aspirant of the All

Progressives Congress (APC). Teargas was also used inside Okorocha’s residence by the operatives before Continued on page 10

Hayatu-Deen: 2023 Presidential Election is PDP’s to Lose Says power shift against democratic principles, zoning a lazy argument Declares ‘I'm going in to win, my message has resonated well’ Reveals Abiola invested almost 25 years of goodwill across the country Believes anyone who wants to be president should work hard, build alliances Obinna Chima, Goddy Egene and Peter Uzoho Former Managing Director of FSB International Bank Plc., and Peoples Democratic Party (PDP) presidential hopeful, Mohammed

Hayatu-Deen, has said if the main opposition party is able to get its act together in terms of organisation and envisaging the antics of the ruling All Progressives Congress Continued on page 10

ROYAL BLESSINGS FOR HIS LIFELONG AMBITION... Buhari Promises to Sign Bill on Establishment SEEKING L-R: Oba of Benin, Omo N’Oba N’Edo Uku Akpolokpolo, Oba Ewuare II; All Progressives Congress Presidential Aspirant, Bola Ahmed and former APC National Chairman, Mr. Adams Oshiomhole when Tinubu visited the palace of Oba of Benin in Benin-City of Forensic, Fraud Examiners’ Institute... Page 6 Tinubu, before addressing the party's delegates in Edo State…yesterday

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

NEWS

WEST AFRICAN BANKERS ASSOCIATION VISITS VILLA... L-R: Honorary Chairman, West African Bankers Association (WABA), Mr. John Davies; Second Vice President, Dr. Guy Laurent Fondjo; First Vice President, Mrs. Aina Moore; President, Mr. Thierno Seydou Nourou SY; President Muhammadu Buhari; Chief of Staff, Prof Ibrahim Gambari; Minister of Foreign Affairs, Mr. Geoffrey Onyeama and CBN Governor, Godwin Emefiele, during an audience PHOTO: SUNDAY AGHAEZE. with WABA president and delegation at the State House Abuja…yesterday

Clean Fuels: Nigeria, Others Require $15.7bn to Upgrade Existing Refineries, Says Refiners Association Emmanuel Addeh in Abuja The African Refiners and Distributors Association (ARDA) has said Nigeria and other African countries would need at least $15.7 billion to upgrade existing refineries in their bid to reduce sulphur content. Speaking at the second Refining and Specifications Virtual Workshop organised by the ARDA, the association noted that the upgrade was necessary to ensure that Africa embraces cleaner sources of fuels. The Executive Secretary of ARDA, Anibor Kragha, noted that adoption of harmonised specification would halt importation of fuels not meeting the AFRI specs into Africa. In addition, he explained that it would give existing refineries until 2030 to upgrade their facilities to produce cleaner, lower sulphur AFRI-6 specifications, arguing that targeted financing was urgently needed for projects to upgrade refineries and infrastructure. “New process units required are to improve key fuel specifications, especially Naptha Hydrotreater (NHdT), Diesel Hydro-desulph. (DHDS), Benzene Extraction, Sulphur and Hydrogen Plants. “Another key focus area is for African countries, especially those sharing common fuel supply chains to develop an integrated policy covering both fuel quality and

vehicle exhaust emissions. “This is to achieve the ultimate objective of clean air in our African cities. Without this integrated and coordinated policy, the objective of clean air will not be realised whether by imports or local production,” he said. Also speaking at the event, Oil and Refining Research Analyst at Vitol, Maryro Mendez, noted that despite the withdrawal of fund from fossils, investment with sustainability plan had been on the rise. Quoting Bloomberg statistics, she noted that sustainable debt annual issuance now borders around $824.7 billion as capital raised for renewables funds now dominate the energy sector. According to her, lack of uniform policies make it difficult for refineries to pass on the cost of carbon to customers as carbon price shifts the cost burden of climate change from society as a whole to the entities responsible for the emissions, providing lack of incentive for refiners to reduce emissions. “The refining sector accounts for only three per cent of the global energy sector emissions. While refineries contribution to global energy sector emissions is low, the opportunities for reducing them are significant. “Refineries globally have started thinking about measuring, monitor-

ing and reducing carbon emissions and environmental sustainability has to be a priority for refiners and Africa is no exception,” Mendez said. She said 80 per cent of refinery carbon emissions come from fuel combustion, hence fuel source and energy optimisation would present the biggest opportunity to reduce emissions. “The challenge is not technical but is commercial with facilities requiring sufficient incentive and capital to invest without impacting on their competitive position,” she added. Speaking on, “Upgrading refiner-

A Federal High Court, in Lagos yesterday ordered the Chairman of Lagos State Parks and Management Committee, Alhaji Musilu Akinsanya, a.k.a. MC Oluomo and other transport unions from collecting levies from non-unionised commercial drivers in all motor parks in Lagos State. The court also restrained the Lagos State Government and it's Attorney-General, from further enforcing and implementing the N800,000 Transport Union levy and money imposed on every transporter and commercial vehicle drivers in Lagos State. Others affected by the order were the Registered Trustees of National Union of Road Transport Workers (NURTW); Registered Trustees of Road Transport Employers Association of Nigeria (RTEAN) and the Registered Trustees of Nigerian

Association of Road Transport Owners (NARTO). Justice Peter Lifu made the order while granting an ex parte application marked FHC/L/ CS/224/2022, filed by a lawyer, Olukoya Ogungbeje, who sued for himself and a new transport union, Transport Union Society of Nigeria (TUSON). Ogungbeje had dragged MC Oluomo and other transport unions before the court alongside, Alhaji Lawal Yusuf Othman; Lagos State Government; Attorney-General of Lagos State; Inspector-General of Police and Director of State Security Service (SSS). In the application, Ogungbeje had asked the court for an order restraining all the respondents jointly and severally, whether by themselves, their agents, officials, servants privies, officers and/or whosoever called from forceful imposition, or collection of any

stated. In West and Central Africa, Angola, Sonaref refinery needs NHT, benzene extraction as Chad’s SRN needs CGDS and Benzene extraction while Congo’s CORAF needs NHT, Benzene extraction and H2 and Côte d’Ivoire’s SIR needs Benzene extraction and H2. In Nigeria, Warri, Kaduna and Port Harcourt refineries, he said , would need NHT, CGDS, Benzene extraction while Senegal’s SAR must be upgraded with benzene extraction to meet AFRI Specifications. Also speaking at the event, Honeywell-UOP’s Luque Guillermo

decried that the oil and gas industry has been hit hard by the current global economic situation with rapid drops in demand. He added that the changing mix of preferred products, volatile crude prices, and difficulty safely staffing production sites posed a challenge. This prevailing development according to him, is forcing demand for some products such as diesel and naphtha to exceed demand for gasoline and jet fuel. He said the sector now has to cope with new ways of working which is making workforces to operate remotely.

FG Moves to Strengthen Environmental, Gender Reporting in Extractive Industry Emmanuel Addeh in Abuja The federal government yesterday said it was set to strengthen the framework for Environmental Impact Assessment (EIA) as well as gender reporting in the extractive industry. The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnaya Orji, made the disclosure at the, “Validation Workshop on the

Court Bars Lagos Govt, MC Oluomo, Others from Collecting Union Levies Wale Igbintade

ies to produce AFRI-6 standard fuels,” Data Manager at CITAC, Richard Augood, said investment was still needed to make African refineries comply with AFRI-6. For compliance in the aspect of gasoline, Augood noted that North African countries such as Algeria would need to upgrade its Adrar refinery, while in Egypt, refineries like Amreya would need Benzene extraction. “In Libya, Azzawiya would need Benzene extraction, El Brega would need NHT, Benzene extraction while Sarir would need to be upgraded with NHT, Benzene extraction,” he

transport union levies, dues or monies or any transport union monies, dues or levies from any person, commercial vehicle driver and/or transporter that is not a member of the unions pending the hearing and determination of the substantive hearing of the suit. He also asked the court for an order restraining Lagos State government and it's AttorneyGeneral, jointly and severally, whether by themselves, their Ministries, Organs, agents, officials from further enforcement and/or implementation of the N800,000 transport union levy due and money imposed on every transporter and commercial vehicle driver in Lagos State. Justice Lifu had on May 8, 2022, after listening to Ogungbeje's submissions, ordered all the respondents in the suit to show cause within seven days why the orders should not be granted.

Development of Frameworks for Reporting Gender and Environmental Impacts in the Extractive Industry,” in Abuja. Orji noted that two areas of concern when he took over last year, were areas of social and environmental impacts of extractive industry operations, explaining that NEITI had set out immediately to develop a framework for both gender and environmental impact reporting. He explained that the framework would enable NEITI not only meet the specific requirements, but also help it define the scope to reflect all issues of gender and environmental impacts within its local context. He noted that there was the need to mainstream gender and environmental impact reporting within existing government systems and institutions equipped with the mandate and capacity to do so. With the implementation of data mainstreaming and systematic disclosure, the relevant institutions, Orji stated, would begin to take on both responsibilities to generate and publish data in real time. “This will add significant value to transparency and accountability by further increasing the timeliness and relevance of data. While NEITI is reporting industry data through the traditional process of data collection and reconciliation, the long-term goal is to mainstream disclosure practices,” he added. In his keynote address, the Chairman, NEITI Board, Olusegun Adekunle, said while the international EITI was established with the objective of disclosing payments and revenues from extractive

resources, the global institution had made steady and significant progress in facilitating openness though the entire processes in the resource extraction value chain. “From prospecting, to licencing, to contracting, to ownership, production, sale and utilisation of the proceeds of mineral resources, the EITI has adopted a roots-to-branch strategy in facilitating accountability in the management of extractive resources. “The global initiative has also brought innovation beyond requiring disclosure in the processes and their outputs to requiring reporting of impacts and outcomes,” he noted. He recalled that in 2019, resource extracting countries committed to disclose data and information on gender and the environment. This decision, he said, was in recognition of the growing impact that the activities in the extractive industry continued to have on human communities and the natural environment. According to him, the decision also signposted the urgent need for global and country level action to facilitate gender inclusion and environmental accountability in the extractive sector. “Armed with the initial outputs of these studies and engagements, we are close to defining the parameters for disclosure on gender and the environmental impacts. The framework will aggregate the knowledge that we have generated in the last two years,” he explained. Adekunle stressed that Nigeria needed data that would help government to design policies to

improve the conditions of its target communities and the environment. The Director, Environmental Impact Assessment at the Ministry of Environment, Mr. Abass Suleiman, in his comments, pledged the support of the ministry to the initiative introduced into the NEITI standards. According to him, environmental impact assessment and gender framework remained a core part of the of the activities of the ministry, noting that the cooperation enjoyed between the ministry and NEITI was long-standing. “We are pleased that environment reporting is being introduced. There's a law on EIA where there's declaration of principles and EIA for development which entails public participation. “The ministry of environment issues these EIA certificates. Infusion of our process will ensure international acceptability. We have always had working synergy with NEITI where we give information to NEITI on companies in the Extractive Industries. “We will be more proactive to ensure NEITI is taken on board before any certification and approval is given, going forward,” he stated. Also speaking, a Director in the Ministry of Mines and Steel, Esther Udoh, explained that before now, mining was the mainstay before the discovery of oil, pointing out that with the discovery of oil, mining was relegated. While lamenting that illegal mining has brought degradation, she disclosed that the ministry spends millions to replenish abandoned sites by the illegal miners.

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NEWS

COURTESY VISIT TO THE HEARTBEAT OF NIGERIA... L-R (front row): Secretary to the Edo State Government, Osarodion Ogie; Edo State Governor, Mr. Godwin Obaseki; United States Ambassador to Nigeria, Mary Leonard, and Edo State Deputy Governor, Philip Shaibu, during a courtesy visit by the US Ambassador to Government House, Benin City... yesterday

Terrorists Threaten to Kill Kidnapped Abuja-Kaduna Train Passengers, Issue FG Seven Days Ultimatum Outrage as 15 persons killed in Katsina community John Shiklam in Kaduna and Francis Sardauna in Katsina Terrorists, who attacked and abducted passengers in the AbujaKaduna train on March 28, have threatened to killed those they are holding hostage if the federal government does not meet their

demands within seven days. This was disclosed by the publisher of a Kaduna- based newspaper, Desert Herald, Tukur Mamu, who is also a media consultant to the Islamic cleric, Sheikh Ahmad Gumi, who has been campaigning for dialogue with the terrorists. The ultimatum came as suspected

terrorists, yesterday, killed no fewer than 15 persons and left many others with varying degrees of injury at Gakurdi village, in Jibia Local Government Area of Katsina State Mamu said the terrorists called him by telephone and told him that the federal government started talking with them, but abruptly

suspended the discussion. In the telephone conversation, which he published in his newspaper and shared on his Facebook page, alongside a one-minute, forty-one seconds audio clip, the terrorists accused the government of insincerity in securing the release of the abducted passengers.

Buhari Promises to Sign Bill on Establishment of Forensic, Fraud Examiners’ Institute President bags anti-corruption excellence award Deji Elumoye in Abuja President Muhammadu Buhari has given an assurance that he would consider and sign without further delay a bill to give legal backing to the establishment of the Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria (CIFCFEN). This was just as the president emerged the first African leader to be bestowed with the global integrity and anti-corruption award of excellence by the Institute. The president, who spoke yesterday, at the State House, Abuja, while being presented with the award by the Chairman of the Governing Council of CIFCFEN Board of Trustees, Dr. Iliyasu Gashinbaki, pledged, ''to look into and assent accordingly,'' a bill seeking the formal establishment of CIFCFEN. He acknowledged that the proposed legislation had been passed to him. He commended the institute for working and effectively complementing efforts of law enforcement agencies, including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other Related Offences Commission (ICPC), the Code of Conduct Bureau (CCB) and the Police. He directed the anti-corruption agencies to continue partnering with the institute for the benefit of the country. The president directed the Minister of Finance, Budget and National Planning to work with the institute in areas of providing technical assistance and capacity building to all revenue generating

agencies and regulators in the public sector. Buhari lauded the Board of Trustees for issuing the first independent review of graft fighting strategy of the country, adding that he was pleased to receive copies of the latest flagship publication, the Annual (2021) CIFCFEN Country Report, themed around the review of the Country’s National Anti-Corruption Strategy 2017-2021. ''This is the first independent review of graft fighting strategy and I commend the Institute for this initiative,” he added. Justifying the importance of forensics and fraud examination in the fight against corruption, Buhari said: ''The need for forensic experts arises in educating, preventing, detecting and prosecuting fraudsters, while fraud examination helps mitigate

vices like embezzlement, money laundering, misuse and mismanagement of public resources. ''Many Nigerians, who are serious about eliminating corruption in our country, will welcome this review of the National AntiCorruption Strategy midwifed by the Federal Ministry of Justice and the Presidential Advisory Committee on Anti-Corruption in 2017 and supported by our International friends. ''This has been our flagship effort in fighting corruption and we did this by distilling all previous strategies geared towards fighting corruption into a single strategy, while this review comes with recommendations that will be carefully reviewed by the Office of the Attorney General and adopted in our 2nd National

Anti-Corruption Strategy that will be unveiled shortly. ''This effort by the institute to undertake the review of the national anti-corruption strategy is highly commendable and it has shown the usefulness of partnerships with professional bodies and my administration will continue to partner with the institute and as well as other private institutions, the academia and other stakeholders in the fight to stop sleaze and mitigate corruption.'' Commenting on the award, Buhari thanked the institute for the honour, saying:"This recognition further imbues in me hope that we will as individuals and citizens of this country begin to live right and imbibe the ideals and ethos of the founding fathers of this great nation.''

Mamu said the terrorists insisted that government must fulfil their demands, emphasising that they don’t want money. Mamu quoted Abu Barra, the leader of the abductors, who spoke with him by telephone in Hausa language, as saying, “We don’t need money. We have a good reason for doing what we did, until our demands are met none of the victims will come out alive even if it means we all die with them. “They are well taken care of as you can see from the pictures we sent to you via WhatsApp but we assure you that this will not continue. “We chose you (Tukur Mamu) to convey this important message to the government, the families of the victims and Nigerians, in general, because we believe you won’t alter our message and we have seen you severally with Sheikh Gumi in the forest. Therefore, we recognised the fearlessness in you.” Barra noted that it had been two months since the abduction, warning that anything could happen to the abducted passengers henceforth, according to Mamu. He disclosed that Barra also said the reason for the abduction was to retaliate the arrest and detention of their children by the security agencies, and demanded their release. Mamu further quoted the leader of the abductors as saying, “Our children numbering about eight between the ages of one to seven years are currently being held at an orphanage in Jimeta, Adamawa State, under the supervision of the

Nigeria Receives 4.4 Million Doses of COVID-19 Vaccines 29.6 million Nigerians vaccinated Onyebuchi Ezigbo in Abuja The federal government yesterday received 4,400,000 doses of Johnson & Johnson COVID-19 vaccines donated by the Government and people of Spain to Nigeria. Speaking at the brief ceremony to mark the formal delivery of the vaccines by the Spanish government, the Executive Director of the National Primary HealthCare Development Agency (NPHCDA), Dr. Faisal Shuaib said 29,651,708 eligible persons had received the first dose of the COVID-19 vaccines. This, he said represented 23.4 per cent of the eligible population. He said the federal government

was intensifying efforts to ensure that 70 per cent of the country's eligible population are vaccinated. "It is in furtherance of this initiative and the commitment of the Government of Spain that we are here today to officially receive, on behalf of the federal government of Nigeria, 4,400,000 doses of Johnson & Johnson COVID-19 vaccines donated by the Government and people of Spain to Nigeria," he said. Shuaib told the Spanish Ambassador, Juan Ignatio Sell, that the donation came when it was most needed as the country was rapidly ramping up full vaccination coverage.

He said the single-dose regimen of the Johnson & Johnson vaccine would enable the agency move rapidly towards achieving herd immunity. Shuaib further gave update on COVID-19 vaccination saying: "As at today, the 24th of May 2022, 29,651,708 eligible persons have received the first dose of the COVID-19 vaccines, and this represents 23.4 per cent our eligible population. 14,179,966 persons have received the 2nd dose and 17,702,018 are fully vaccinated and represents 15.8% of our eligible population. 1,178,604 persons have received the booster dose." Shuaib said the figures so far

posted by the country was a far cry from the target of 70 per cent of the eligible population. "However, these donations will help towards achieving our target. If we keep up with vaccination, the likely scenario is that even though the virus continues to evolve, the severity of the disease will reduce over time, as the immunity increases due to vaccination. "But if majority of our eligible population in Nigeria and globally continue to remain unvaccinated, what we may see is that a more virulent and highly transmissible variant could emerge, sooner or later which would be worse than any variant seen.”

Nigerian Army. “The names of our children are: Abdulrahman, Bilkisu, Usman, Ibrahim, and Juwairiyyah. They were forcefully taken from our wives in Nasarawa and taken to the orphanage in Yola. “For any continued discussion on the release of these passengers and a safe resumption of the train service, our children must be released unconditionally. “Only then we will release some of the abducted victims, especially the women while other passengers will be released on a prisoner exchange with some of our arrested comrades by the government.” Mamu said Barra threatened that if within seven days the government did not respond to their demands, they would stop feeding the victims and would start slaughtering them one after the other. He added that if the government failed to respond after that, the Abuja-Kaduna rail line as well as the Kaduna-Abuja high way would be no-go areas for Nigerians, Mamu said. According to Mamu, Barra stated, “If the government decided not to respond, so be it. We are warning Nigerians, especially those that are patronising the train, that if this matter is not resolved peacefully, the day they decided to attack us or do anything funny, passengers or commuters should forget using the train or following the Abuja-Kaduna road because we will be consistent and they can’t stop us. “We believe that you will deliver this message as it is.” The terrorists also claimed that the planned resumption of train services along the Kaduna-Abuja rail line, which was expected to start on Monday, was suspended because of fear. Meanwhile, in Katsina State, suspected terrorists killed at least 15 persons and left many others injured at Gakurdi village, Jibia Local Government Area. The incident had put residents of the community, who survived the deadly invasion, on edge, as many currently took refuge in other villages. The motorcycle-riding terrorists were also said to have burnt food and non-food items belonging to residents of the village during their operation that lasted an hour. A traditional leader in the area, who craved anonymity, told THISDAY in a telephone interview that the incident was one of the most recent attacks in the state.

WEDNESDAY MAY 25, 2022 • T H I S D AY

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NEWS

PROMOTING GREEN BUILDING ... L-R: IFC EDGE Program, Temilola Sonala; CEO Evercare Hospital Lekki, Rajeev Bhandari; Global Manager, IFC EDGE Green Building Transformation Program, Corinne Figueredo;Kenya, Ghana, Nigeria Lead, IFC EDGE Program, Dennis Papa Quansah, and IFC EDGE Program, Michelle M. Farell, during certiﬁcation of Evercare Hospital Lekki as a resource-eﬃcient and environmentally friendly designed building healthcare project held in Lagos...yesterday

2% Tax on Telephone Calls will Stifle Telecom Growth, Telcos Insist

Emma Okonji

The Association of Licensed Telecom Operators of Nigeria (ALTON) has reacted to the alleged planned introduction of two per cent tax on all telephone calls by the federal government, insisting that it would stifle growth in the sector. The telco tax, which is in the equivalent of a minimum of one kobo per second for phone calls, is part of the sources of funds required to finance free healthcare for the vulnerable group in Nigeria, according to the National Health Insurance Authority Bill 2021 signed by President Muhammadu Buhari last week. ALTON chairman, Gbenga Adebayo, who spoke to THISDAY in a telephone chat, said telecom operators were yet to get any directives from government to implement such levy, even though the news has spread far and wide that government is about to introduce another tax on telecom operations. Telcos currently charge N4 for SMS and N6.40k per minute for all voice calls that terminate on other networks. According to Adebayo, “We are yet to receive the official directive, but if it is true that the federal government wants to tax all telephone calls by two per cent, we will be surprise that such tax will be coming at this time. “The reason being that when we recently suggested to our regulator

to review the current economic indicators that are affecting telecoms business, with a view to increase cost of telecoms service delivery by 40 per cent, in order to cushion the economic effect on telecoms operators, government said it was not an appropriate time to review cost of telecom services delivery, given the difficult times that Nigerians are passing through. So we will be surprise if the same government now comes around to say it is introducing two per cent tax on telephone calls.” So if this is true, what is the moral basis to introduce two per cent tax on telephone calls and expect us to collect such money and remit to government, when it has refused to support our request for the review of the cost of telecom services delivery across networks, Adebayo asked. But the National Health Insurance Authority (NHIA) has said the new National Health Insurance Authority (NHIA) Act recently signed into law by President Muhammadu Buhari does not make provision for a telecoms tax as a source of funding in the law. In a statement on Monday, signed by the Public Affairs Manager of the NHIA, Emmanuel Ononokpono, it said the Act establishes and empowers the NHIA to ensure the provision of health insurance for all Nigerians through a mandatory mechanism, in collaboration with state health insurance agencies. While clarifying the provisions

of the new legislation, the agency said: "In relation to the Act, the NHIA wishes to state clearly that the legislation that Mr. President assented to does not make provision for a telecoms tax as a source of funding in the law contrary to hasty reports in some exuberant national media."

The NHIA said with the coming into effect of the new Health Insurance Act, the objective of addressing high incidence of out-of-pocket expenses for health care, through health insurance for all categories of Nigerians by 2030, would now be more realisable than ever before. The statement added: "It worthy

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has indicated its plan to work closely with the Independent Petroleum Producers Group (IPPG) towards galvanising the growth of the nation’s midstream and downstream sector through a smooth implementation of the Petroleum Industry Act (PIA). The Chief Executive Officer of NMDPRA, Mr. Farouk Ahmed, gave the hint when a delegation of IPPG led by its Chairman, Mr. Abdulrazaq Isa, paid him a visit in Abuja. Ahmed said the Nigerian oil and gas industry was at a critical phase with the ongoing reforms, saying it was imperative for a deeper and

progressive level of collaboration between the NMDPRA and IPPG for the growth of the industry. “IPPG remains a critical industry stakeholder which the NMDPRA is ready to closely work with in addressing challenges impeding industry growth and the development,’’ he said. Ahmed assured IPPG of the agency’s readiness to support their growth and development as critical stakeholders in the industry and also expressed willingness to work closely with the Group, especially as the Authority was in the process of issuing relevant industry regulations to support the implementation of the PIA. In his presentation at the meeting with the NMDPRA boss, Isa pledged the group’s

various sources from which funding would be drawn. "Furthermore, the legislation strengthens the NHIA to discharge a wide range of regulatory and promotion functions to ultimately ensure that every Nigerian receives access to quality and affordable health care.

FG Approves N34bn Minimum Wage Adjustment Arrears for Varsity Workers, Others Ngige: FG seeking to align salaries, wages with productivity Onyebuchi Ezigbo in Abuja The federal government yesterday said it would spend about N34 billion on the ongoing payment of minimum wage consequential adjustments to education sector workers with effect from 2019. The beneficiaries include the members of the striking Academic Staff Union of Universities (ASUU) and their counterparts in the polytechnics and Colleges of Education. The Minister of Labour and Employment, Senator Chris Ngige, disclosed this while responding to questions from labour correspondents in Abuja, on efforts to end the prolonged ASUU strike. According to Ngige, the universities would get N23.5 billion, the polytechnics N6 billion and Colleges of Education are to get N4 billion,

totalling about N34 billion. When asked to give update on the engagement with ASUU and other university workers who are currently on industrial action, the Minister said the committees set up during the last tripartite plus meeting of the government and university based unions were given a fortnight to turn in their report and were still working. He said reports of the committees were being expected this weekend. "Those committees are working. The one on NITDA is testing the three platforms, the government's Integrated Personnel and Payroll Information System (IPPIS), the University Transparency Accountability Solution (UTAS) of ASUU and the Universities Peculiar Personnel Payroll System (UPPPS) of the non-teaching staff.

NMDPRA Seeks Collaboration with Indigenous Oil Producers for Development of Midstream, Downstream Sectors Peter Uzoho

to note that the Act establishes and empowers the NHIA to ensure provision of health insurance for all Nigerians through a mandatory mechanism, in collaboration with state health insurance agencies. "Specifically, Sections 25 and 26 of the Act establish the Vulnerable Group Fund (VGF), indicating the

support towards the Authority’s mandate of realising the growth and development of the midstream and downstream sector of the Nigerian oil and gas industry. His presentation focused on the evolving industry landscape, ongoing industry reforms, IPPG’s member participation in gas processing and refinery operations and the role indigenous exploration and production companies can play in this new era in guaranteeing the nation’s energy security. “Nigeria cannot afford to be left behind in view of the global energy transition agenda. Natural Gas should be considered as a transition fuel with deliberate policies formulated to attract investment into the sector,” Isa said. He also noted that it was

important for Nigeria to rapidly increase its refining capacity through the right policies and the provision of adequate support to refiners by the government to ensure that the country meets its petroleum products’ demand in the short to medium term. On the PIA enactment, the IPPG chairman said the Act would set a solid growth foundation for the entire industry, adding that it was imperative that effective regulations be formulated to derive the full benefits of the Act. According to him, “Industrywide consultation in the enactment of regulations is required to promote inclusivity and ensure robustness of regulations and IPPG looks forward to collaborating with the NMDPRA in this regard."

“They started the testing last Thursday. The National Salaries, Wages and Incomes Commission (NSWIC) has issued their amendment circulars. The unions also have copies to take care of responsibility and hazard allowances wherever it has not been properly captured.” Ngige also hinted that there may be wage adjustments as the government intensifies efforts to streamline wages through the National Salaries, Incomes and Wages Commission. "We have done police for example. It wasn't envisaged that we should do it in pockets. But you can see that police have been done. You can also see university teachers saying that their own should be done immediately, since we have done police. So, something is being done. “It was part of the 2009 negotiation they had with the government then. So, the committee of Prof. Briggs is on it, discussing with the university unions and their employer, the Federal Ministry of Education. They will bring up something for government to see. "There are other people. The doctors are complaining about brain drain, this and that. Their hazard allowance has to be touched and it was touched by close to 300 per cent. “From N5000 paid across board for each person, the least person in the health sector is getting N15000 while the big ones are getting N45000. So, that is the quantum leap." Ngige appealed to ASUU and other university-based unions once more to suspend their strike so that academic activities could resume once again in public universities across the country. Meanwhile, Ngige yesterday said the federal government was considering measures to bring salary and wage earnings of the personnel

in both civil service and parastatals at par with their productivity. He said the renewed emphasis on promoting productivity was based on its impact on the economy of the country. According to the minister, part of the strategies to tackle the current economic challenges in the country is to improve on productivity of the workforce. Ngige who spoke at the opening of the annual Productivity Summit organised by the National Productivity Centre (NPC), said the country was benefiting from the hard work of Nigerians in diaspora, adding that the inflow of their remittances was helping the economy. Ngige said productivity also goes with the fixing of emolument “Some people are working in the civil service of the country and others in the public sector, like the parastatals, NNPC, CBN and FIRS and then some people ask why are some workers are earning more salaries than others. “I want say that the federal government recognises this, a situation where there is a big disparity in the salaries of some in the Civil service or public service and there is this disparity in their pay, does not call for cheers. "So one of the assignments that NPC is carrying out now is a very big assignment because it is working in collaboration with relevant agencies to give us the relativity in terms of how we can harmonize or bridge the gap in the salaries of most public sector workers in Nigeria," he said. According to Ngige, most of industrial disputes, “that we see in the country today were manifestations of wage disparity, whereby someone in the parastatals will be earning a lot more than his counterpart in the civil service with similar qualification.”

WEDNESDAY MAY 25, 2022 • T H I S D AY

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

TEN

Atiku: Why I’m Seeking to Be Nigeria’s President in 2023 Says failure of leadership threatening Nigeria’s existence Vows to tame govt's involvement in running public enterprises Emmanuel Addeh in Abuja Former Vice President Atiku Abubakar yesterday said that he was aspiring to become the president of Nigeria in 2023 because of what he described as the failure of leadership by the ruling All Progressives Congress (APC). In a policy document titled : “My covenant with Nigerians”, Atiku stated that if he had been allowed in 2019 to take over the reins of governance in Nigeria, Nigeria would have been the better for it. He insisted that the outcome of the 2019 elections was a lost opportunity to put in place the much needed purposeful leadership that would work to achieve the noble objectives of the “Atiku Plan” for Nigerians. Noting that the failure of leadership by the APC led government was staring every Nigerian in the face, the Peoples Democratic Party (PDP) stalwart maintained that the country’s development challenges were progressively worsening and assuming frightening dimensions.

Atiku argued that at no other time has the poverty in the quality of leadership and governance been worse than it has been since 2015. According to the politician, Nigeria’s unity has never been threatened like now, with an increasing number of Nigerian citizens openly challenging their allegiance to Nigeria's corporate existence through violent agitations and misguided demands for ethno-regional autonomy because of widespread feeling of neglect. He noted that Nigeria has never been so overwhelmed by insecurity in all parts of the country, explaining that sadly, the country has reached a point where the functions of the state have been usurped by separatists, bandits, insurgents, and terrorists. Atiku pointed out that despite the country’s vast resources, Nigeria has remained one of the poorest and unequal countries in the world, with the economy remaining fragile and vulnerable. Added to those, he said, were increasing job losses, eroding

incomes and lack of citizens’ access to basic amenities which have pushed more than 90 million people below the poverty line. Atiku explained that the public education system remains ill-equipped and has consistently underperformed, keeping millions of children out of school and producing graduates with skills and competencies which are not aligned to the needs of the communities and industries. “Incessant industrial action by the Academic Staff Union of Universities (ASUU) and other unions of educational institutions has undoubtedly affected the quality of our workforce with far reaching consequences on the economy. “Nigeria has continued to operate a faulty, complex federal structure with a high degree of centralisation at the centre. The federal government has succeeded in accumulating many responsibilities which belong to the other (weaker) levels of government. “ The federal government appropriates, along with these

responsibilities, huge resources to the detriment of the states and local governments. “It has become fashionable for the APC-led government to blame the opposition and external factors for Nigeria’s economic woes. The evidence, however, is overwhelming that the country’s underperformance is largely attributable to leadership failure in the management of the state. “The APC-led government lacks the critical competencies to implement innovative solutions to our problems and deliver on their mandate with the desired impact,” he lamented. He added that the moment has presented another opportunity for Nigerians to ensure the emergence of an experienced, courageous, and result focused leader to find a way through the country’s tough situation and make a positive difference. As a private businessman of many years, he noted that he possesses a deep understanding of Nigeria’s economy and its challenges, explaining that as

vice president, the administration demonstrated willingness to reform, and to implement a formal development agenda. “ As head of the economic management team, he stressed that he was instrumental to the design of a private sector revival strategy and advocated for the opening up of the economy for private sector investments in the information technology sector. “Today, it is undeniably the fastest growing services sector in the Nigerian economy,” he stated. He noted that his five-point agenda will seek to restore Nigeria's unity through equity, social justice as well as co-operation and consensus amongst its heterogeneous peoples. In addition, he promised to establish a strong and effective democratic government that guarantees the safety and security of life and property as well as build a strong, resilient, and prosperous economy that creates jobs and wealth and lift the poor out of poverty. Furthermore, he pledged to

promote a true federal system which will provide for a strong federal government to guarantee national unity while allowing the federating units to set their own priorities. He also promised to improve and strengthen the education system to equip its recipients with the education and skills required to be competitive in the new global order which he said is driven by innovation, science, and technology. “I believe the foundation of any government is rooted in a social contract. Government emerges and finds legitimacy in the expectation that it shall work for the common good particularly to defend man’s inalienable rights to life, property, and dignity. “The attempt to uphold and promote the social contract is manifested in the deliberate efforts to meet and give practical expression to the terms of the contract through policies and programmes in all aspects of life that will guarantee the common good for all.

CITING INFLATIONARY CONCERNS, CBN RAISES MPR TO 13%, FIRST INCREASE IN 30 MONTHS banks and often determines the cost of funds in the economy. The MPC, however, left other monetary policy parameters, including the apex bank’s Cash Reserve Requirement (CRR) and the Liquidity Ratio (LR), unchanged at 27.5 per cent and 30 per cent, respectively. Addressing journalists at the end of a two-day meeting of the MPC, CBN Governor, Mr. Godwin Emefiele, who read the committee’s communiqué, admitted that the hike in MPR would increase cost of borrowing, especially in non-priority sectors of the economy. Emefiele, however added that lending to key priority sectors, which had been identified to boost growth and generate employment, would remain at single-digit interest rate of nine per cent. The central bank governor pointed out that the decision to raise interest rate was the last resort and a difficult one for the MPC, which had been crafting policies to stimulate economic growth as well as achieve financial stability.

He said the CBN had adopted a contractionary monetary policy stance in view of the aggressive rise in inflation in recent times, which had led to high food and commodity prices in the country. Emefiele noted that CBN’s action was aimed at curbing inflation, on the one hand, and supporting growth of the economy, on the other. He said the MPC was in a dilemma in arriving at a decision to raise the lending rate. As a result, the apex bank governor explained, a drastic measure such as raising the benchmark lending rate was required to reduce monetary expansion in order to tame inflation. He assured that though inflation was expected to maintain an aggressive acceleration in the coming months, the central bank would not hesitate to return to its accommodative stance whenever it saw a reduction in the headline index. Emefiele said, “The concerns about the global rise in inflation and price levels; you all would have seen that the price of crude

quite unexpectedly has been above $100 per barrel. In fact, Nigeria’s Bonny light yesterday, when we started the meeting, was about $116 per barrel. “What this means is that the standard pricing indicator; yes, whereas crude prices have gone up per barrel, at the same time the cost of refining and ultimate pump price at the station would naturally have gone up. “This is a global phenomenon and I was watching the CNN a few days ago and one of the analysts was talking about an incredible distortion to financial markets in the United States, and I said, yes, we are all welcome to a situation where inflation is rising to unprecedented levels in the US and other economies, growth is also coming down. “And if you must tackle inflation, prices, and at the same time you want growth, then you know that you are faced with some compelling dilemma as to what to do. “You like to see inflation come down but at the same time you

want growth to go up. But to achieve that, you have to take two decisions that are in opposite directions and that brings to bear what type of skills you have put in place to ensure you are able to manage these two in a way that you maintain a balance when you see a moderation in inflation and at the same time you grow your economy.” He added, “For us in Nigeria, you would have observed that in the last two and a half years, what we have been doing is that we want to pursue a policy of price stability that is conducive to growth and that’s why somehow we have used our development finance intervention facilities, we have actually yielded positive results and helped to drive growth in our economy. “We’ve used that to drive growth while at the same time we try as much as possible to maintain a hold position while looking at the optimum level of liquidity in the industry to be able to moderate inflation at a level that does not hurt the growth and economy of

HAYATU-DEEN: 2023 PRESIDENTIAL ELECTION IS PDP’S TO LOSE (APC), PDP would win the 2023 general election. Speaking exclusively to THISDAY in a presidential interview series, Hayatu-Deen, punctured arguments in favour of zoning or power shift. He said it was unreasonable for the country to be bogged down by power shift clamour and debate, stressing that the argument for zoning is not only lazy but also against democratic principles. He said if he had been asked the question on zoning some weeks back, he would have loved to spend some quality time on the subject. But PDP had already deferred to wisdom by throwing its presidential ticket open, he stated. Analysing the chances of PDP in next year’s general election, Hayatu-Deen, who explained the rationale behind the proposed consensus northern candidate and why it failed, said, “Let me say that the reason for putting in place that framework for producing a consensus candidate from the northern part of the country was informed by two or three reasons. “First and foremost, the field was getting large both in the north and in the south to the point where it would become difficult to manage at the convention. “Secondly, the election of 2023 is PDP's to lose and if caution is not exercised, APC may actually snatch victory from the jaws of defeat if we have an acrimonious

convention. “Thirdly was that the consensus arrangement was actually going to happen in stages. That the north should reduce the field to one person or maximum of two and, second, that this particular message should actually also be taken to the southern part of the country. At the time, we knew more people were going to come out, but only Pius Anyim had come out as at the time. “Lo and behold, after a few weeks, there were far more contestants in the southern part of the country than the north. So, we now started going to various parts of the country, preaching to the governors of the PDP to do other things in their powers to actually shrink the field in the south so that when we go to the convention, we’ll have few people to narrow this process. “To answer your question, the consensus arrangement in the north fell apart simply because the candidates felt that the basis for it existed no more and, therefore, it was better for each person to actually run their own independent campaign. In so doing, taking cognisance of two things: that we would be able to establish very good relationships among ourselves. “Also, it provided a teaching moment as we go to the convention to begin to put together some kind of framework even before

the convention as to how these things will coalesce and still have a very successful convention and produce a candidate. So, those were the reasons.” Dismissing the idea of zoning, Hayatu-Deen stated, “This issue has been up in the air and travelling at just 1000 miles per hour, it's now an open and shut case that has gone to the highest policymaking body of the party and they decided to open it up for all. Let me tell you this, first, in 1999, beginning from preparations in 1998, this is now almost 23 to 24 years, there was a major event that took place during MKO Abiola's election. “Followed by a lot of commotion from many places, leading up to 1998, it was decided by the party bigwigs that given what had happened, it was important for us to stabilise this country, to hand over power to somebody from the South-west to compensate the denial of Abiola's mandate. “There was no constitutional provision, there was no referendum taken among the south, and this is how the world works. It was an open contest. People like Abubakar Rimi, Philip Asiodu, and others ran to me and contested about that. That was a private arrangement that was done. So, we were able to organise to shift the votes to Obasanjo. Secondly, it's now almost a generation and after 23 years, we are still bogged down with power shift. I think it's unreasonable.

“Thirdly, it goes against the principles of democracy as far as I'm concerned. You cannot shut anyone out under a democratic contest. Anybody who is eligible that meets the criteria to either vote for somebody or be voted for, let him go on. I refuse to accept the lazy argument that this thing should be zoned and given to a particular zone. “Abiola invested almost 20 to 25 years of goodwill across the country. Tofa, who was a very popular person in Kano, lost Kano to Abiola. Anybody from the Southeast or South-south or the north, who wants to become president, should go and do that hard work and build alliances. Nigerians are good people. If you show them that you actually have their back and you are waiting for them, you will be amazed.” He elaborated further, “In 1999, a large section of the northern establishment, over 80 per cent of them, who were military were backing Alex Ekwueme for the presidency. As journalists, I will encourage you to send messages to people to actually go out there and build friendship and relationships and sow the seeds. “You will be surprised that an Ibibio or an Igbo guy or Ijaw man can easily get elected president, because the democratic space is very free and very open, and it's all Continued on page 47

our country. “But with what we have seen globally either in the areas of the supply chain, increases in prices of petroleum products, and the rest of them, we have seen aggressive growth in inflation in Nigeria between March and April of 2022. “And the forecast from our statisticians, including the NBS and CBN as well as our colleagues in research and monetary policy, is that unless something drastic or significant actions are taken, it will be difficult for us to really rein in inflation if we don’t do something immediately. “This decision has been taken because we felt that there may continue in the next couple of months to be an aggressive acceleration in inflation and we think there is a need to take some drastic actions to reverse it. “If we are able to see a reversal,

perhaps, we can say we are returning to what we can call the normal period, when we are looking at using CRR to moderate inflation and at the same time using our development finance to really push for growth.” Emefiele said the broad outlook for both the global and domestic economies in the medium-term remained clouded with uncertainties arising from the lingering war between Russia and Ukraine, the unfolding impact of the extensive sanctions imposed by several countries on Russia, and the downside risks from the continued spread of the COVID-19 pandemic. He added that global growth was confronted with significant headwinds, which might derail the current projection further, adding that the continuing rise in inflation is also set to undermine the recovery of Continued on page 49

SPORADIC GUNSHOTS AS EFCC FORCIBLY ARRESTS OKOROCHA FOR JUMPING BAIL whisking him off at 6:41pm, THISDAY gathered. Operatives of the commission had earlier yesterday stormed the Maitama, Abuja residence of Okorocha to effect his arrest. But Okorocha raised the alarm that the siege to his Abuja residence by men of the anti-graft agency was part of a grand plan to truncate his presidential ambition. The senator, who addressed journalists inside his room, said the EFCC, which later reinforced and returned with additional men, had threatened to break the doors and forcefully take him away on the day of the APC presidential screening. Okorocha said, ''Frankly speaking, the situation I find myself is what I call hostage. Policemen and EFCC operatives are currently in my compound and possibly to whisk me away and my gate is blocked. ''All I am asking for now is to allow me to go for my screening because I am a presidential aspirant and our election comes up on Sunday. If I am not allowed to go for this screening, I may miss it." He added, "I am not an unknown person in the country. I have an address and people know me in the country. All what it takes for the EFCC is to send me an invitation and I will gladly oblige.” However, a statement issued later by the EFCC stated that the agency was after Okorocha following his refusal to honour an invitation extended to him

after jumping bail. The statement claimed, "Operatives of the Economic and Financial Crimes Commission (EFCC), today May 24, 2022, arrived at the Maitama, Abuja home of a former governor of Imo State, Senator Rochas Okorocha, to effect his arrest. "The move followed the refusal of the former governor to honour invitations after jumping the administrative bail earlier granted him by the commission." The statement signed by the spokesman of the commission, Mr. Wilson Uwujaren, further said EFCC had on January 24, 2022 filed a 17-count criminal charge bordering on diversion of public funds and properties to the tune of N2.9 billion against Okorocha. It said the case was assigned to Honourable Justice Inyang Ekwo of the Federal High Court, Abuja, but attempts to arraign Okorocha were twice stalled owing to the absence of the ex-governor who evaded service of processes. At the last adjourned date, March 28th, 2022, Ekwo, before adjourning until May 30th, 2022, warned that it was “the last adjournment I shall grant in this matter,” that statement alleged. The agency also stated, "in the circumstances, the commission is left with no option than to effect the arrest of Senator Okorocha and bring him to trial." The EFCC team was able to arrest Okorocha at 6:41pm in an operation that started around 10am.

WEDNESDAY MAY 25, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

MIDWEEKPOLITICS

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

With the Exit of Dissidents, AbdulRazaq Rules Kwara APC

Hammed Shittu writes that Governor AbdulRahman AbdulRazaq has completely taken over the entire structure of the All Progressives Congress in Kwara State, following the exit of his former allies

AbdulRazaq

fter a long battle over the control of the All Progressives Congress (APC) in Kwara State, the state governor, Alhaji AbdulRahman AbdulRazaq has finally taken over the party structures across the 193 wards ahead of the 2023 general election. With the exit of the governor’s political foes from the party to the Social Democratic Party (SDP), the APC is currently setting a new political order that guarantee its return to power in the next poll. At the time of this report, the governor remained the main decider of who gets what as far as the elective positions are concerned in the state; as he has taken firm control of the party. His men are positioned across the political structures of APC so as to achieve his second term bid. With this development, there is not likely to be any opposition on his path within the APC. The governor’s group which received the greenlight from the national secretariat of the APC has Prince Sunday Fagbemi as Chairman. Consequently, the new state chairman has constituted all other executive members at the state, local and wards. This finally laid to rest all squabbles over control of the party. Speaking at an event in Ilorin recently, Fagbemi warned the new executive members of the party and aspirants to desist from acts of indiscipline that can affect ongoing repositioning of the party for electoral success in the 2023 general election. He said any one of them caught engaging in acts of indiscipline would be sanctioned. He stated, “the current leadership of the party in the state is poised to unite the party and would not allow any act that would thwart the move so as to ensure the party wins the next elections.” Fagbemi added that, the leadership was also in touch with other aggrieved members in order to reconcile them. The chairman noted that, “the administration of Governor AbdulRahman AbdulRazaq has achieved a lot since assumption of office on May 29, 2019 and it is for us to put our house in order so as to ensure electoral victory of APC. He said: “Putting our house in order cannot happen without discipline within the party. We will therefore begin by ensuring that there’s discipline within the party. “The party shall also embark on genuine reconciliation to win back our aggrieved members. We shall not relent in our efforts to unite the party and match collectively to 2023, to not only deliver victory for all across board, but to do so with better margin compared to what we had in 2019 Fagbemi also used the occasion to roll out the achievements of the present administration in the state especially in the areas of education, health, water, roads, empowerment, among others. He therefore, urged the members of the party to commence intensive mobilisation across the three senatorial districts of the state in order to garner more support for the electoral victory of the party during the next elections in the state. Also speaking, the state governor, Alhaji

Etsu of Patigi, Alhaji Bologi

AbdulRahman AbdulRazaq said that the ruling APC can only beat its own excellent record in the delivery of its campaign promises in basic education, healthcare, public funded-safety net programmes, gender mainstreaming and youths empowerment. The governor, who spoke at the inauguration of the new APC state executive members in Ilorin said: “Kwarans have resolved not to ever hand the reins of government to wandering wolves and their allies.” The governor said no true progressive will leave the party under which Kwara is fast regaining its lost glories, adding that whatever disagreements among brothers can always be resolved if those involved are committed to the growth of the state. AbdulRazaq added: “Today represents a new beginning for our party in Kwara State. I congratulate all members of the new state executive committee. Let me remind you that this position is a trust. You now carry the mandate of over 400,000 members of APC in Kwara State to lead us to another victory. “You are coming on board at a crucial moment. No genuine progressive, whatever the disagreements, will sabotage the collective resolve of the people of Kwara State to solidify the victory of 2019 in 2023. “From basic education, healthcare delivery, provision of water, infrastructural development and access to the rural areas, prudent management of resources, gender inclusion and youths empowerment, safety net for the poor, and welfare of workers, the Otoge administration can only beat its own excellent record. We can do more. “What is certain is that Kwara people will never again hand the reins of government to the wandering wolves and their allies. APC is the trusted vehicle to keep the victory of 2019 and no patriot will leave the party. “So, together with the government,

Emir of Ilorin, Alhaji Sulu-Gambari

Olofa of Oﬀa, Oba Esuwoye

you have a duty to mobilize the people of Kwara State on this just struggle to keep the till from those who perpetrated mindless pilfering of public properties and brought the state on its knees.” As the state governor, Alhaji AbdulRazaq has taken over the control of the party in the state, his foot soldiers have commenced consultation and to ensure that the governor returns to office for another four-year tenure. Series of day and nocturnal meetings have commenced with various stakeholders in the state:Youths, royal fathers, women, civil servants, motorbike riders, transport unions leaders, students among others have been involved in the task ahead. So far, AbdulRazaq remains the only gubernatorial candidate in the APC. His banners, billboards among others have littered all the parts of the state ahead of the election. Following this development, various stakeholders in the state especially the royal fathers from the state recently paid a solidarity visit to the governor to endorse his candidature for second term based on his superlative outing in the past three years. The first royal father to make the endorsement was the state chairman of traditional council and Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari during his visit to Government House, Ilorin for courtesy call and to celebrate with the Governor on the just concluded Ramadan Fast. At the event, the Emir declared that, the state governor, Alhaji AbdulRahman AbdulRazaq deserved a second term in office come 2023 in view of his outstanding performance since assumption of office on May 29, 2019. The tradition of paying of homage to the sitting governor dates back to the colonial years. According to him, “The Governor AbdulRazaq has been hardworking like a field man. “I think he spends more time on the field (attending to public needs) than in his office. The Emir added, “I wish the Governor is willing to do another term in office. It is an individual’s right assigned in the constitution of Nigeria that the Governor that spent four years in the first term can also contest for a second term. The Governor, for his part, commended the Emir for his fatherly roles and for promoting peace and cultural heritage of the Ilorin Emirate. He said, “I welcome Your Royal Highness

and distinguished members of your entourage to Government House on another occasion of Bareke. This is a tradition that is rooted in history and culture. “It is a testament to the excellent relationship between the traditional institution and the government. We do not take that for granted. Also, the royal fathers from the Kwara north and south senatorial paid their solidarity to the governor and assured him of their support for second term so as to continue with his good works. In a statement issued in Ilorin by the governor’s Chief Press Secretary, Mr. Rafiu Ajakaye, the monarchs said, “Your Excellency, you have touched lives all around our communities. “We have seen dividends of democracy all around our communities. We are proud to be associated with you and we pray that you will be the person to pilot the affairs of the state in the next four years”. Etsu Patigi and Vice Chairman State Council of Chiefs Alhaji Ibrahim Umar Bologi II who spoke on behalf of royal fathers from the North senatorial district of the state said, “when he led other traditional rulers from Kwara North to pay sallah homage to the Governor. Other traditional rulers from Kwara North in attendance were the Emir of Lafiagi Ahaji Mohammed-Kudu Kawu; Emir of Kaiama Alhaji Muazu Shehu Omar; Emir of Shonga Dr. Halidu Yahaya; Etsu Tsaragi Alhaji Aliyu Abdullahi Nda Kpoto; Emir of Okuta Alhaji Abubakar Idris; Emir of Ilesha Baruba Professor Halidu Abubakar; and Emir of Yashikra Alhaji Umar Usman Sariki. Monarchs from Kwara South on the other hand echoed the same sentiments, with the Olofa of Offa Oba Mufutau Gbadamosi Esuwoye II saying the administration of AbdulRazaq has touched virtually every region and sector of the state in a good way. “Without mincing words, you have been a great revelation to Kwara State and your disposition at the helm underscores the astoundingly fine qualities you exhibit as the Chief Executive Officer of our dear state,” he said. “Therefore, it has been a sojourn of hope under your leadership, and hopefully, we can make it a journey of more fulfillment with more delivery of dividends of democracy to the common man. Other Kwara South first class monarchs in attendance were the Olomu of Ajase-Ipo Oba Ismail Alebiosu; Olomu of Omu-Aran Oba AbdulRaheem Adeoti; Olosi of Osi Oba Saliu Adasofegbe; Olupako of Share Oba Haruna Olawale Sulaiman; Alofa of Iloffa Oba Samuel Dada; and representatives of Elerin of Erin-Ile and the Olusin of Isanlu-Isin. AbdulRazaq appealed to the monarchs to continue to support various initiatives of his administration to secure the state. The governorship election and the contest for state and federal legislature in Kwara promises a lot of spectacles, as former allies of the governor who have left him to opposition political parties like PDP, SDP and YPP are working day and night to repositioning themselves for the task ahead.

AbdulRazaq remains the only gubernatorial candidate in the APC. His banners, billboards among others are strategically positioned in all parts of the state ahead of the election. Following this development, various stakeholders in the state especially the royal fathers from the state recently paid a solidarity visit to the governor to endorse his candidature for second term based on his superlative outing in the past three years

WEDNESDAY MAY 25, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

FEATURES

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

Delivering Service to Humanity Emeka Okparaji doubles as the Chairman of Ememos Group of Companies and Chairman Board of Directors of Hermes Paving Stones and Concrete Ltd, a world class multi-billion naira paving stone production and construction company located in the Owerri, Imo State. Despite his apolitical stance, the entrepreneur, who is popularly known as Ememos, has in the last three decades made positive impact in the lives of his people and beyond, Precious Ugwuzor reports

ccording to Mohammed Ali, “Service to others is the rent you pay for your room here on earth." The above quote has become the motivation behind the endless giving of Emeka Okparaji, aka Ememos, the Chairman of Ememos Group of Companies and Chairman Board of Directors of Hermes Paving Stones and Concrete Ltd, a world class multi-billion Naira paving stone production and construction company located in Owerri, Imo State. Okparaji has carved a niche for himself. In fact, he is one of the most popular, respected and successful Igbo men in Lagos. However, one thing stands him out- he has cultivated the habit of giving back to society. For him, life’s persistent and most urgent question is, 'What are you doing for others?' Narrating one of several instances where he touched lives, Ememos said: "I was in my house in the village when I saw a woman carrying a child at the gate. I was forced to come down, and I asked her what happened, she started narrating how she got pregnant, gave birth and has not been able to foot the bills because the man responsible is nowhere to be found. "I was able to clear the bill and also gave her money to start up something so that she could take care of herself and the baby. By the time she got to the hospital excited and shared the good news with others, the next thing I saw was hundreds of people at my gate. "After asking them of their problems one after the other, I had to call the doctor, he narrated how some of them ended up working in the hospital until their bills are cleared. Their stories were touching, I had to clear all their bills." The act of giving has been proven to make people happier than, if they had decided to use the thing for their own personal gain. A recent study revealed that giving tends to lift the happiness of the participants. This is not just applicable to money but also other acts of kindness that you may show to other people because no one has ever become poor by giving. Without any iota of doubt, there is a strong connection between different acts of generosity. Giving to people who are suffering from health complications makes them feel loved and it is eventually reciprocated and this, Ememos has vowed never to stop doing. Ememos has done several humanitarian jobs but the part that has made him feel fulfilled till date is offsetting hospital bills for people who couldn't afford money for their treatment. His business interests cut across electronics, Oil & Gas, sales and distribution of computers, distribution of batteries, production, real estate, construction, manufacturing of bottled water, paving stones and concrete. Meanwhile, as a big Investor in oil and gas, production and construction, real estate, bottle water, sales and distribution of computer and electronics across Nigeria, Ememos has distinguished himself as an entrepreneur par excellence. The story of the establishment of the popular computer Village in Lagos, and association of UMU-ABA Connect Association of Nigeria, a social and Charity Organisation Worldwide cannot be told without his name being mentioned. Ememos who is a Business Administration graduate from the Prestigious University of Lagos, is happily married with five children. His passion towards helping humanity, coupled with the hard work he continuously put in, has stood him out among others, and earned him a lot of recognition globally. Ememos is known by his people for his humanitarian service which he has embarked on for over three decades. As part of efforts to ensure that his humanitarian works are spread across his state and the

Okparaji country at large, Okparaji established Ememos Foundation through which he has empowered a lot of people in the state. Ememos through his foundation, has given out a good number of tricycles (Keke), scholarships, medical treatment in Nigeria and abroad and among others. Apart from offsetting hospital bills and his scholarship to his people, Ememos has engaged over 2,000 people working for him in his state , Lagos and abroad. Ememos, who is the founder and first president of the popular Umuaba Connect, has successfully built a 1km road with over 250 street lights in his country home. For over 15 years, Ememos has singlehandledly paid salaries of old people in his community. He has also embarked

on building a hospital for his people to have access to good healthcare. He also built a church and hall for his people. Ememos who is also the founder of Hermes Properties, a real estate company operating in Nigeria and United States, is among the successful igbo men in Lagos. Despite not being a politician, his achievements are enormous ranging from road construction, street lights, employment and empowerment, and has earned him a lot of praises in his home community Dimagu-Isiekenesi in Ideato South Local Government Area of Imo. Ememos started from the scratch but he has built a name for himself both in the real estate world, oil & gas, electronics, production, manufacturing and among others. Having achieved so much at a very

"His passion towards helping humanity, coupled with the hard work he continuously put in, has stood him out among others, and earned him lots of recognition globally"

young age, many thought he would venture into active politics and contest for governor of his state or Senate but for him "One doesn't need to get involved in politics to do humanitarian work." Ememos has invested a lot in human capital. According to him, If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime. "I believe in building and moulding people to become stars. I don't want to start name calling but I have invested heavily in human capital development from the entertainment industry to empowering a lot of people to start up their own business and today, most of them are doing very well," Ememos added. Of course, the story of Ememos' success cannot be said without mentioning his beautiful wife, Mrs. Gifty Chikaodi Okparaji, who has been his back bone while he enroute the journey of becoming successful. Just like the popular saying "behind every great/successful man there stands a woman," so is the story of Ememos. No success has been achieved without the contribution of his wife. They both have five children and three are presently studying in the United Kingdom. These blessings and many more have continuously spurred the entrepreneur to sustain his passion for giving.

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

PERSONALITY

Professor Uche Ikonne: Abia's Golden Son Uche Aguoru

n March 2023, Nigerians across several states will be marching to the polls to elect who will govern their respective states as Governors and Members of their States’ Houses of Assembly. Going by the timetable released by the Independent National Electoral Commission (INEC), political parties have from April 4 to June 3, 2022, to conduct their primary elections to elect candidates that would fly the flags of their respective parties in the coming general elections. In Abia State, the people have maintained an undying love for the Peoples Democratic Party (PDP), which has held sway since the dawn of the Fourth Republic in 1999. Therefore, the PDP is the party to beat in the coming elections in the state. This point explains the attraction for the party’s ticket, as close to a dozen aspirants have indicated an interest in flying the party’s gubernatorial flag in the forthcoming elections. The incumbent governor of Abia State, Dr. Okezie Ikpeazu, has his preferred successor. Coincidentally, popular opinion appears to align with his choice of a successor as Ndi Abia seem to endorse his selection of Professor Uche Ikonne. Popularly known as “Onyé Nkúzí” – the teacher, Professor Uche Ikonne cuts the same image as the other African who bore the same name, President Julius Nyerere, known as “Mwalimu” – the teacher. Both stand tall compared to their contemporaries. But, while both dedicated their lives to imparting knowledge in the classroom, Prof. Uche Ikonne etched his name in gold as a medical practitioner of repute, an astute professional, a tested administrator and a passionate Onye Abia. He spent most of his adult life living and working in Abia State. The word on the street is that while political jobbers lobbied for public office, Onyé Nkúzí busied himself developing Nigeria’s human capacity at the Department of Optometry of the Abia State University (ABSU). As Head of the Department of Optometry, Prof. Uche Ikonne rallied the staff and students through self-help efforts to construct a building comprising lecture halls and staff offices. Today, the “Vision Hall” stands in that citadel of learning as a testament to the vision, uncommon leadership qualities, and tenacious fighting spirit of Prof. Uche Ikonne. As the reward for hard work is more work, the political leaders in Abia State prevailed upon Prof. Uche Ikonne to leave his perch at the university to rescue Abia State Polytechnic from ruin. As one who has dedicated his adult life to the service of the state, Onyé Nkúzí responded in the affirmative to the call to serve. While the Rector at the Abia State Polytechnic, Onyé Nkúzí increased the internally generated revenue of the institution and ensured that the institution promptly paid its salaries, pensions and gratuities. He reduced the cost of governance and indebtedness by plugging financial leakages, lobbying for increased funds, and ending unnecessary allowances corruptly being paid to the management staff of the institution to the detriment of the majority of the workers. In terms of infrastructure, he built a new entrance gate for the institution and tarred the road from the school's gate to the campus. He achieved these feats using the direct labour of the staff and students in adherence to the Michael Okpara philosophy of “ bú ány danda.” Like the saying, a goldfish has no hiding place. Accordingly, his uni-

Prof. Ikonne

versity colleagues and Abia State leaders prevailed upon Prof. Uche Ikonne to succeed Prof. Chibuzo Ogbuagu as the seventh substantive Vice-Chancellor of Abia State University. As a result, Onyé Nkúzí assumed office on the first of December 2015 for a five-year tenure that ended in 2020. During his five-year tenure as the Vice-Chancellor of Abia State University, he worked assiduously with his colleagues to increase the university’s ranking in Nigeria from the 93rd position to the 27th position out of 160 universities, as reported by the Daily Post newspaper on April 21, 2021. As a result, the institution also emerged as the second-

best state-owned university in Nigeria during Prof. Uche Ikonne’s tenure. At Abia State University, Onyé Nkúzí initiated and established the Engineering and Pharmaceutical faculties. This process involved a long, arduous process through the Senate, the National University Council, and the disciplines’ relevant regulatory and association bodies. This uncommon feat involved recruiting relevant academics and staff to run these new departments. Again, Prof. Uche Ikonne displays the ingenuity and doggedness that have marked his career. These values are encapsulated in his mantra that success comes from “Áko, Uché, na Okwúkwé.” The team with the best players always wins. Onyé Nkúzí understood this point and reinstituted the practice of retaining the best graduating students from his university as lecturers.

"Popularly known as “Ọnyé Nkúzí” – the teacher, Professor Uche Ikonne cuts the same image as the other African who bore the same name, President Julius Nyerere, known as “Mwalimu” – the teacher. Both stand tall compared to their contemporaries. But, while both dedicated their lives to imparting knowledge in the classroom, Prof. Uche Ikonne etched his name in gold as a medical practitioner of repute, an astute professional, a tested administrator and a passionate Onye Abia"

Onyé Nkúzí was able to reinstitute this laudable initiative because, as an excellent fundraiser, he was able to find the funds to pay the new lecturers. Part of the funding came from an ingenious contract renegotiating with retired university professors to free up funds to employ at least three graduate assistants per department. “Áko, Uché, na Okwúkwé.” As the Nigerian aphorism advises, “follow who know road.” This maxim must have guided the Abia State leaders when they, once again, invited Prof. Uche Ikonne to join the gubernatorial race to build on the remarkable foundation PDP has set in the state. Ndi Abia appear to concur with this view as the Abia State governor’s office is not a place to learn administration or how to get things done. It should be a place for people who have proven their administrative mettle to solve the state's more enormous challenges. As Luke 16:10 states, those faithful in little things will be faithful in large ones. These are the thoughts that would occupy the minds of the delegates as they cast their votes in the PDP Primaries. They will weigh the aspirants and choose someone who has proven his ability to get big things done with little resources. That calculation will most likely settle with Prof. Uche Ikonne, Onyé Nkúzí. His profile resonates with the street where he is also referred to as Uche Ndi Abia. The best we can ask for is “Uche Chukwu mee”, knowing that “Uche Ndi Abia bu Uche Chukwu”. -Aguoru wrote from Umuahia in Abia State.

WEDNESDAY MAY 25, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, MAY 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

M A Y

S & P INDEX

2 4 , 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%

Agusto & Co: Nigeria’s Debt Rose Steeply by 226% to N39.56trn in 7 years

Nume Ekeghe With analysts in the financial service sector impressing it on the federal government to slow down on its borrowing bing, it has emerged that Nigeria’s debt rose steeply by a whooping 226 per cent In seven years. In a report, analysts at Agusto & Co. summed Nigeria’s debt burden since the beginning of President Muhammadu Buhari’s administration to have risen by 226 per cent to N39.56 trillion as

at December 2021, a massive leap from N12.5 trillion in June 2015. Agusto & Co. highlighted this in its May 2022 economic newsletter titled, “Fiscal Consolidation and Debt Sustainability- Beyond the Rhetoric.” Agusto & Co. urged the electorate to question how the next administration intends to approach fiscal consolidation and debt sustainability in the face of revenue constraints. It stated: “The last seven years have seen Nigeria’s public debt

burden skyrocket with minimal investments in infrastructure to show for it. While the Federal Government of Nigeria’s capital expenditure averaged N1.6 trillion ($3.85 billion at N415/$) over the last seven years, it has lagged behind both budgeted levels and the amount required to close the infrastructure gap estimated at $150 billion annually over the next 30 years. “It also pales in significance when compared with its regional peers. However, during the same period, total public debt has soared by a

staggering 226 per cent to N39.56 trillion in December 2021, up from N12.5 trillion in June 2015.” It emphasised that a bloated wage bill and interest payments cumulatively 114 per cent of FGN revenue in 2021 continue to consume a substantial portion of the nation’s finances. It added, “For more context, Nigeria spent more on non-debt recurrent expenditure in 2021 approximately N5 trillion, than its estimated revenue of N4.39 trillion within the period. This implies

that it had to borrow to meet a considerable part of the public sector wage bill and its actual capital expenditure in 2021 is estimated at N3.7 trillion. Revenue growth has been significantly outpaced by the rise in expenditure. The fiscal deficit-to-GDP ratio of 6.3 per cent in 2021 has now exceeded its 3 per cent threshold over the past 5 years. The country’s revenue troubles have also been exacerbated by production and terminal shut-ins that have stopped Nigeria from benefiting from what should have been a

crude oil windfall.” The report however noted that recent efforts at tax reforms, while commendable, have been largely fixated on raising the tax rate and introducing new taxes but however noted that emphasis should be more on increasing the tax bracket. It stated: “The phased increase of the excise duty on tobacco and alcoholic beverages between 2018 and 2020 in addition to the 50 per cent increase in Value Added Continued on page 33

FG Raised N5.58trn via Saving Bonds in 5 Months to Fund 2022 Budget Deficit Kayode Tokede Following the drive to bridge the 2022 N6.26 trillion budget deficit, the federal government through the Debt Management Office (DMO) in the first five months of 2022 raised a total of N5.58 trillion through Saving Bond. In the first five months of 2021, a total of N4.04 trillion was raised through the FGN Saving Bond despite

low- yield on interest rate. The debt office in 2017 launched FGN Saving Bond for retail investors that guaranteed interest payment and repayment of the principal. According to the guidelines, retail investors looking to invest in the FGN Saving Bond only need a minimum of N5,000 to invest. Subsequent investment over N5,000 will be in multiples of N1,000. Meaning that investors cannot

invest N5,500 or N12,700. It’s either N6,000 or N13,000 or N30,000. The maximum amount a single retail investor can invest in the FGN Saving Bond is N50 million. The bonds have a tenor of 2 and 3-year respectively. Meaning that investors can either invest in an FGN Savings Bond with a duration of 2-year or one with a duration of 3-year and the interest rates are determined by

the DMO. According to THISDAY findings, the interest rate on FGN Saving Bond in 2022 moved from 7.542% FGNSB JAN 2024 8.542% FGNSB JAN 2025 FGN Saving Bond in January to 9.470% FGNSB MAR 2024 10.470% FGNSB MAR 2025 in March 2022. The interest rate dropped in May on 7.934% FGNSB MAY 2024 and 8.934% FGNSB MAY 2025 FGN Saving Bond

as announced by the DMO. Interestingly, interest rate on FGN Saving Bond was hovering around 8.7 per cent and two per cent highest and lowest in 2021, respectively. The federal government had announced that its 2022 budget has a deficit of N6.26 trillion, forcing the federal government to issue new borrowings of N5.012 trillion (of which domestic – N2.506 trillion and

foreign – N2.506 trillion); drawdowns on Project-tied Multilateral/Bilateral loans – N1.156 trillion; and Privatisation Proceeds of N90.73 billion. According to DMO, N537.6billion was the total amount allotted in January 2022 in two offers for subscription. The DMO noted that there are 2-year and 3-year savings bonds, with interest Continued on page 24

M A R K E T D ATA A S AT F R I D AY, M AY 2 4 , 2 0 2 2 BILLS

BONDS DESCRIPTION

Price

Yield

14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027 13.98 23-FEB2028

110.85

7.73

108.85

9.89

106.42

10.35

119.11

11.07

111.18

11.28

Change Updated Time (%) 20, -0.01 May 2022 20, 0.00 May 2022 20, -0.15 May 2022 20, 0.00 May 2022 20, 0.00 May 2022

Discount

NTB 9-Jun22 NTB 14-Jul22 NTB 11Aug-22 NTB 8-Sep22

306,00 307,00

0.02 May 20, 2022

301,00 303,00

-0.22 May 20, 2022

297,00 299,00

-0.54 May 20, 2022

293,00 296,00

-0.57 May 20, 2022

NTB 13-Oct- 345,00 350,00 22

0.46 May 20, 2022

Yield

OTC F X F U T U R E S

CPS

MATURITY

Change Updated Time (%)

MATURITY NEVE CP I 24-MAY-22 DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22 NENL CP I 24-OCT-22

Discount Yield 16.72 16.81 8.72

Change Updated Time (%) 0.15 May 20, 2022

8.75

0.14 May 20, 2022

11.32 11.58

-0.39 May 20, 2022

8.00

-0.43 May 20, 2022

14.13 15.09

-0.16 May 20, 2022

7.86

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS MAY 25 1 427.24 2022 NGUS JUN 29 428.93 2 2022 NGUS JUL 27 3 430.63 2022 NGUS AUG 31 4 432.32 2022 NGUS SEP 28 5 434.02 2022

Updated Time

May 20, 2022 May 20, 2022 May 20, 2022 May 20, 2022 May 20, 2022

WEDNESDAY, MAY 25, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

FG RAISED N5.58TRN VIA SAVING BONDS IN 5 MONTHS TO FUND 2022 BUDGET DEFICIT

rates of 7.542% with allotted of N154.207million and 8.338per cent with an allotted amount of N383.442million , respectively. For February, the debt office disclosed a total allotted amount of N646.798million (N163.689 million for 7.220% FGNSB FEB 2024 and N483.109 million for 8.220% FGNSB FEB 2025) , noting that there are 2-year and 3-year savings bonds. A breakdown of the February Saving Bonds shows that the 2-year FGN savings bond will be due on February 16, 2024, at 7.22% per annum and the 3-year FGN Savings Bond which will be due on February 16, 2025, at 8.22% per annum. However, in March, the total amount allotted moved significantly to N2.15trillion when the DMO allotted N626.544 million with interest rate of 9.47 per cent and maturity date on FGNSB MAR 2024 and N1,527.278 million with interest rate 10.47 per cent

In addition, the DMO allotted a sum of N1.14trillion and N1.11trillion in April and May 2022 respectively. The debt office had announced that it is offering on behalf of the FG two more Savings bonds for subscription in May and the first offer is a 2-year FGN savings bond which will be due on May 18, 2024, at an interest rate of 7.93per cent per annum. The second one is a 3-year FGN savings bond which will be due on May 18, 2025, at 8.93 per cent annum. THISDAY had reported that the federal government borrowed a total of N984.28 billion through FGN bonds between January and April 2022, according to DMO monthly auctions. The appetite for FGN bonds indicates that Pension Funds Administrators (PFAs), and Nigerian investors prefer investment instruments with less volatility that assures them of their capital returns albeit with low yield on investment.

Responding to THISDAY enquiry, the Head, Equity Research, FBNQuest , Tunde Abidoye in a statement explained that bonds by federal government are oversubscribed over current liquidity surplus in the financial system, stressing that institutional investors continue to look for new avenues to invest funds from maturing securities, coupons and dividend receipts, and new AUMs generated. According to him, “This is in addition to the fact that FG bonds are essentially risk-free. Notably, Nigerian pension funds are willing takers of FGN debt. Based on PenCom’s latest report for March, the share of FGN debt securities in the asset mix of Nigerian Pension funds was around 61.3per cent. “Nigerian pension funds have historically favored government debt as an asset class due to the paucity of good quality investible securities

available to them. Other related reasons include the relative lack of depth of the equities market, portfolio safety considerations, and strict investment guidelines by the industry regulator. “Unlike peer countries, PFAs’ exposure to infrastructure funds and real estate properties was paltry at N75billion and N156billion respectively, or mere fractions of their total AUM size of N13.9trillion. “For context, the Retirement Benefits Authority of Kenya puts the share of government securities at 44.1per cent as at end-June ’21. “The equity portion of the portfolio also amounted to 16.9% compared with c.7per cent for Nigeria. For Kenya, the Pension Funds share of immovable property was 16.7 per cent, this compares with around 1.7per cent for Nigeria. The Federal Government’s (FG) rapid borrowing raises concerns about the growing stock of public debt, which

presently stands at about N40trillion or $96billion, as well as debt sustainability. “The issue also raises concerns about the government’s escalating debt servicing costs, which accounted for almost 76 percent of overall revenue in the 11 months leading up to November 2021. “This leaves the FG with very little cash to spend on vital items (i.e. capex, health, and education) and creates a significant debt servicing burden for a developing country like Nigeria.” Speaking on the development, an economist and Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said the FG had notified the general public of borrowing more in 2022. “Since we have a deficit of N6.3trillion and you also have an additional subsidiary budget of N4 trillion, naturally it has soar up the deficit and it is easier to raise money locally than raising it at the international

market. Domestic borrowing is a low- hanging fruit. “With all the volatility and foreign exchange issues, it makes sense to borrow at the domestic market rather than borrowing from the international market. It is all a reflection of our macro economy environment challenges and weak fiscal policy of the government. All this borrowing also is a reflection of the weak financial position of the government and it will continue like that.” He noted that the oversubscription to FBN bond is a lucrative investment, stressing that the low risk involved attracted investors. He added that, “Anything sovereign has the lowest risk and nothing will go wrong with it except the country is collapsing completely. All over the world, sovereign bonds have the lowest risk and secondly it is an investment outlet for investors to invest their money.”

Major Real Estate Investors Propose Ways to Unlock Values Ayodeji Ake A group of major real estate practitioners have given recipes for investing in property developments and bridging the deficit in residential and commercial housing in Nigeria. Essentially, they advocated investment boost and collaboration to increase residential housing and commercial development in the country. The operators, who are bigticket property investors, spoke at the recent Property Investment Conference (PRINVEST 2022) organised by BusinessDay in Lagos with the theme: “Dream Residential Communities, Closing the Gap”. The conference was designed to proffer solutions that will address the housing deficit, highlight necessary reforms to develop infrastructure and provide

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

solutions to mortgage insufficiency in Nigeria. Leading the pack of experts at one of the event’s panel discussions, Co-founder and Deputy Chief Executive Officer, Purple, Obinna Onunkwo, spoke eloquently about how Purple had been able to navigate the terrain hitherto avoided by many in the industry, assuring that if value is created in real estate development, an investor would make his money. Particularly, he revealed innovative concept that Purple adopted and one, which worked for it. According to him, desirous investors could adopt same and create wealth.

“There is money to be made, there is value to be created and that’s what drives us as a platform. When we did Maryland mall, our first major project, people thought we were crazy, because we said, you can’t be building destination location in Nigeria, you can do it in South Africa, you can do it in Mauritius but it’s a local one, we have traffic issues in Lagos, we have approval issues in Lagos. So, you have to do something that fits the market, which is why we developed for the first time in Nigeria the concept of “small format retail”: when you build a mall, instead of spreading it across

the ground, you stack it up and you put it in a location that is easier for people to access without traffic and stuff, and Maryland mall has been a huge success and we are replicating that across Lagos,” Onunkwo narrated. Earlier, Chief Operating Officer, Purple Proptech Limited, Ope Adetiba, hinted on the plan by Purple to introduce home ownership arrangement by way of Fractions. According to him, Fractions solves the issue of access on the buyer and seller side and provides a level-playing field as well as gives an easier path to exiting real estate transactions.

As part of the plan under the Fractions model, Adetiba revealed, Purple would be launching home ownership scheme with over N30 billion worth of properties listed. Speaking, Chief Executive Officer, Lifecard International Investment, Grace Ofure, while emphasising on the importance of co-investment, in her presentation, pointed out that, with co-investment, there are opportunities to take advantage of affordable investment amounts, higher returns on investment, and management flexibility, among others. Speaking of choices and opportunities, the Chief Executive

Officer, UAC Property Development Company, Odunayo Ojo, noted that new urban communities that were well-planned supported a high quality of life when done properly by experienced hands. Ojo urged investors to key into a purpose-built new community where all the modern techniques of community building are designed from the scratch. In the same vein, Managing Director, Orange Island, Yinka Ogunsulire, saw these communities as urban design movements that promote walkable neighborhoods containing a range of housing and job types.

NIBSS E-Banking Transactions Declined in April Nume Ekeghe Electronic transactions through the use of Point of Sale terminals (POS) electronic bills payment platform as well as funds transfers through the Nigeria Inter Bank Settlement System (NIBSS) Instant Payment channel reduced in April compared to March this year. According to latest data made available by NIBSS, volume and value of transaction on both the NIBBS instant payment (NIP) and POS channels declined by 8.2 and 7.7

per cent in April this year compared to what was recorded in March. NIBSS data showed that transaction volume through the NIP channel in April was 392.36 million as against 402.49 million recorded the previous month. The value of transactions also declined from N31.8 trillion in March to N29.17 trillion in April. The situation was same for POS transactions where volume dropped to 94.95 million in April compared to 102.99 million transactions recorded in March, while the volume of

transactions declined to N663.26 billion compared to N718.56 billion recorded in March. Electronic bills payment channels also saw declines in both volume and value of transactions. Data released by NIBSS showed that total value of bills payment via electronic channels in April was N237.89 billion as against N260.87 billion recorded in March. Volume of transactions also dropped to 73,227 as against 94,323 that was recorded the previous month. The situation was however better

for mobile transactions where the volume was the only one that saw a decline to 41.97 million from 42.48 million in March this year. The volume on the other had grew slightly from N1.34 trillion in March to N1.37 trillion in April. In total, the value of mobile inter-scheme transactions between January and April 2022 stood at N4.863 trillion, a 173 per cent improvement over N1.782 trillion that was transacted through the channel in 2021. For the NIP, transactions value

rose by 44 per cent to N114.8 trillion in the first four months of 2022, compared to N79.5 trillion that was recorded in the same period of 2021. POS transaction value for the first four months also rose to 2.53 trillion a 21 per cent increase over N1.99 trillion that was recorded in the comparable period of 2021. Value of transactions on the electronic bills payment platform rose by 28.7 per cent from N716.99 billion in the first four months of 2021 to N923.18 billion in the first four months of 2022.

Operators Charged to Use Insurance Portal for Quick Turn Around Time Ebere Nwoji The Minister of Finance, Budget and Planning, Mrs. Zainab Ahmed, has charged insurance industry operators to use the new portal launched by the National Insurance Commission (NAICOM) to provide quick turnaround time on their services as well as grant access to information when required without any inhibitions. The minister also advised the insurers to utilise the portal

and maintain effective real-time communication with their customers. The finance Minister stated this at the official commissioning of the new portal built by NAICOM. She urged NAICOM to ensure proper use of the portal. Ahmed told NAICOM that the commissioning of the Portal should serve as a springboard for industrywide adoption of technology and innovation for efficient and effective service delivery, ease of transacting business and customer experience

and satisfaction. She charged industry operators to use the portal to provide quick turnaround time on their services, grant access to information when required without any inhibitions and maintain effective real-time communication with its customers. Ahmed advised the Commission to consider using the portal to increase its revenue generation given the government’s dwindling revenue profile. “Dwindling Government

revenue profile demands that the Commission must look into ways of increasing its revenue through the use of technology and the Portal in particular,” she advised. She also urged the Commission to ensure the Portal was connected to other government databases like the National Identity Management Commission (NIMC) NIN Database, Nigeria Immigration Service (NIS) Passport Database, Nigeria Integrated Customs Information system, FRSC’s National Vehicle

Identification System, the National Vehicle Registry, State Licensing Databases among others in order to provide value-added services to all Insurance Industry stakeholders and enhance revenue generation. In his speech, the commissioner for insurance, Mr Sunday Olorundare Thomas, said the portal was one of the initiatives of the Commission being pursued to deepen the insurance market and increase the penetration to the level that is consistent with the nations economy.

T H I S D AY ˾ WEDNESDAY, MAY 25, 2022

BUSINESSWORLD

FINANCE

Leveraging Technology to Promote Financial Inclusion Nume Ekeghe writes on the efforts by key stakeholders in the economy to enhance financial inclusion

igeria has over the years been able to improve the level of financial inclusion in the country, although it still has a long way to go if it is to achieve its new vision of 95 per cent inclusion by 2024. The drive for financial inclusion is premised on the fact that access to financial services is key in the inclusive economic growth of any nation. Thus access making financial services accessible is fast becoming a key area of concern to policymakers for the well-known reason that it has far-reaching economic implications. In achieving this, Nigeria had in 2012 launched the National Financial Inclusion Strategy (NFIS), which is targeted at shoring up the level of inclusion from 36.3 per cent to 80 per cent in 2020. According to 2018 data from Enhancing Financial Innovation and Access (EFInA), 38.1million of Nigeria’s 106million (18years and above) adults or 36 percent of Nigerians remain completely financially excluded. While the target of 80 per cent by 2020 may have been missed, a recent survey by Augusto & Co on Consumer Digital Banking, only 34per cent of the respondents said they had experienced the service of digital banks. Only 17per cent of respondents above the age of 55 are aware of their services, while for people aged 41-54, the awareness rate stood at 31per cent. With the current level of 64 per cent as stated by the Deputy Governor of the Central Bank of Nigeria, Aisha Ahmad, recently, there is a better chance of the country meeting its desired goal of 95 per cent by 2024 which is just two years away, if the financial sector leverages on the benefits of technology. Technology has been a major driver of innovation and growth in most sectors and the financial industry is not immune to it. Players in the financial industry have argued that to achieve the NFIS target for inclusive economic growth, the financial sector must strongly leverage technology (mobile and digital channels) to promote financial inclusion and enhance access to financial services for the unbanked and underserved segments of the population. The MD/CEO of Heritage Bank, Ifie Sekibo, while affirming that banks cannot push financial inclusion unless they also push secured technology inclusion, had noted that the bank has continued to leverage on technology to revitalize the industry via deploying its huge resources and vast networks to deepen financial inclusion in the country for inclusive economic growth According to him, Heritage Bank has continued to entrench financial inclusion across board via creating access to accounts and other financial products, savings, mobile money systems and payment systems that provide opportunities for financially excluded Nigerians and Micro, Small and Medium Enterprises.

API SANDBOX FOR INNOVATION According to him, it is a level 1 entry into guardian who will be the primary account holder

One of the ways that banks have been able to use technology to improve service is through application programming interface (API) sandbox, which helps accelerate the ideas of technology entrepreneurs to build innovative and commercially viable products. Sekibo stated that Heritage Bank had provided a suite of financial and non-financial APIs targeted to meet the needs of FinTech, Tech SMEs, and Communities through its HB API Sandbox & Banking as a service via One Pipe. “Our APIs grants Tech Companies, third-party developers, and non-Fintech companies access to multiple payments and financial services required by their customers. Following the launch of HB’s API Sandbox, the Bank partnered with API aggregator Companies to extend the Bank’s API services to a wider audience, layering their value-added services to deliver our BaaS platform. “Banking as a Service (BaaS/Open Banking) is an end-to-end business process that allows FinTech and other third-party service providers to offer core financial services to their customers by integrating with the Bank via our readily available APIs. This is a billed service that also provides relevant data insight required to pursue aggressive retail accounts acquisition by leveraging the aggregator robust retail prospect pipeline” he stated.

POPULARISING THE DIGITAL BANKING SPACE

In driving financial inclusion through a robust, innovative, and advanced digital banking solution, Sekibo said the bank had recently launched the ‘Octiplus’, which is a bank-agnostic, all-in-one digital banking application, which grants users access to a bouquet of financial, lifestyle and social networking features with the added convenience of converging card-based payments within one application irrespective of the issuing Nigerian bank. Sekibo stated that, “with Octiplus, we are redefining the concept of digital banking for the discerning mobile user, as the app is equipped with several exciting features that reiterate the bank’s commitment to expand its digital architecture and modernize its interactions with the banking public, irrespective of your preferred financial institution.”

CATERING FOR THE UNBANKED

One of the challenges of achieving financial inclusion is the inability of some to meet the required level of identification. As the CBN had lowered the entry requirement to allow new entrants into the system, Sekibo said the bank had introduced its flagship CBN KYC Tier 1 savings account to cater for the unbanked.

savings account category in Nigeria, in which an individual can open without having the mandatory requirements/documents to open a standard or regular account in Nigeria. “This is one way of ensuring that all citizens of Nigeria are financially included since the account can be opened with or without a smart phone at the bank or online. In essence, this type of savings account doesn’t require any utility bills, or even an ID to open. “Most people who fall under this category usually do not see the need to open an account because they find it easier to save whatever money they have in their houses. This category of people want to avoid bulky manual account opening process and have a better time management. This product is very precise and requires minimum account opening documentation; also it can be done at the comfort of one’s home,” he said.

PAYMENT GATEWAY, VIRTUAL ACCOUNTS TO MEET ONLINE LIFESTYLE

Also as more people are living in the virtual world, the bank said it created Heritage CheckOut, which is a fully integrated payment processing platform with infrastructure for digital payments across Africa. Olusola Longe-Okenimkpe, Divisional Head, E-Business & Collections disclosed that the platform provides an underlying technology platform that allows businesses to receive and issue payments from anywhere in the world, with robust in-built fraud management, compliance, and security applications. She also defined Virtual Accounts as series of off-balance accounts whose total balance mirrors the balance in pool account. According to Olusola, pool account is linked to all the virtual accounts and the balance in the pool account mirrors the total balance in the virtual accounts. Asides this, she said the bank ensures seamless transaction using HB transfer code. “The transfer code *745# of Heritage bank guarantees seamless usages and reduces the stress of going to the branch of Heritage bank to make payment. Just like other banks, you can use Heritage bank mobile banking code which is *745# to check your account balance, transfer money to Heritage bank or other banks, pay for utility bills and cable TV subscription, pay for church’s services everywhere you are using your mobile phone.”

CATCHING THEM YOUNG

The bank also introduced HB Bud account, which is a savings account for children and the younger demographic aimed at hosting financial literacy and inclusion. The account can be opened in trust for a child by the parent/

with the responsibility of running this account until their child attains adulthood and can solely operate their own accounts or possibly move to other age-appropriate products. This product was initially launched in 2014 as a unique proposition to cater mostly to the educational needs of children and young adults who are preparing and saving up for further education and, as well, deepen brand visibility and increase the bank’s market share. However, some operational exigencies and regulatory framework have necessitated the modification and adjustment of this product to serve the customers optimally. Children and teens from 0 to 18yrs are the target market. The features are unique as outlined: Access to cash-backed loan by parent/guardian/sponsor for school fees/education loan. You can access up to 70 per cent of your balance held with the Bank as cash backed loan. The customer must have run the BUD account for a minimum of six months to access the cash backed loan; ease of saving through standing order instructions; access to exclusive events; free participation in the BUD MINI career mentoring and coaching sessions once a year and opportunity to act as a Heritage Bank Executive Committee member for one day.

INCLUSION OF CREATIVE INDUSTRY

YNSPYRE Account is a product targeted specifically at the creative economy populated by not only youths in video and film, and music. It goes much more than that as it involves people in technology, the creative industry and gaming as part of the creative industry. Addressing the press about the initiative in gaming as a creative endeavour, Dike Dimiri, Heritage Bank Regional Executive, Lagos, and South West explained that the involvement of the bank is to identify income-earning opportunities for some people in the economy. According to him, “HB has designed a product that identifies and finds a mechanism that guides Nigerians in gaming or e-sports. The bank is set to revolutionize e-sports by bringing it to an acceptable level attained by football, lawn tennis and other crowd pulling games.” Heritage Bank is fast changing the narratives of the banking landscape through the adoption of more secured technology (product and channels) for seamless services that guarantee the larger part of the population is involved in economic activities as well as being financially included. For this to be effective, Sekibo affirmed that the population must access financial services and products which ensure that households and businesses irrespective of income levels have access to and can effectively use the appropriate financial facilities they need to improve their lives and further their savings and investments.

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T H I S D AY WEDNESDAY MAY May 25, 2022 Wednesday 25, 2022 Vol 27. No 9907 TR

See page 27

THE INTERNET AND DIGITAL MARKETING TRENDS The Internet has become a good platform to engage in advertising, sales and promotion of services, writes SONNY ARAGBAAKPORE See page 27

RAUF AREGBESOLA AT 65 ERASMUS IKHIDE pays tribute to Aregbesola, former Governor of Osun State See page 30

ROTATIONAL PRESIDENCY AND NIGERIA’S SURVIVAL The Presidency should be zoned to the Southeast in the interest of the nation, argues SONNIE EKWOWUSI See page 30

EDITORIAL THE MOUNTING DEBT CHALLENGE

See page 31

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

APC’S SEARCH FOR CONSENSUS WAHAB ADAMU argues that APC leadership’s quest for consensus to choose its presidential candidate is no longer feasible

UT H

AYOOLA AJANAKU writes that the security agencies should address the pervasive insecurity in the land

NIGERIA’S GORDIAN KNOT OF INSECURITY It’s no longer news that banditry has gone a notch higher than expected with insecurity that pervades most Northern parts of Africa’s largest economy, Nigeria. The recent attack on the Abuja-Kaduna Nigerian Railway Corporation train on March 28, 2022 was the last straw that broke the camel’s back. A daring assault with explosives that derailed train and HQVXLQJ ÀUHÀJKW WKDW KDSSHQHG EHWZHHQ WKH WHUURULVWV DQG ODZ HQIRUFHPHQW R΀FHUV onboard the train that resulted in the death of some passengers and abduction of others. The rail attack followed a sequence that started from an attack on Kaduna International Airport that led to the loss of lives of two security personnel. To get a FOHDU YLHZ RI WKH VFKHPH RI DͿDLUV WKDW KDV a striking resemblance to a classic Cold War reincarnation where psychological warfare is deployed to subdue foes has come to the fore. The main artery that connects the political capital of Nigeria to most Northern VWDWHV LV D GHDWK WUDS VXͿHULQJ IURP WKH siege of ragtag bandits who abduct and kill travellers who ply this road with reckless abandon. What these unsavoury actions translate LQWR LV WKDW .DGXQD LV FXW RͿ IURP WKH UHVW of the world via rail, air and land as the psychological trauma of plying these routes weighs down on intending travellers. It remains to be seen how law enforcement agencies will address the hydra headed monster of insecurity at this rate. Till date the abducted passengers are still in captivity with the alleged Boko Haram and $QVDUX IDFWLRQ RI ,6:$3 WHUURU FHOO ÀJKWHUV It’s a Gordian knot with no Alexander the Great in the room to untie the knot that will ensure the security of the average Nigeria citizenry, as they go about their daily lives. The harrowing experiences are far and wide thanks to the insecurity conundrum that has spread from the North East, to the North West, North Central and other parts of Nigeria. It’s imperative at this juncture to employ back channels to address this unending hydra-headed monster that has JRQH RXW RI KDQG DQG DͿHFWHG WKH GDLO\ lives of Nigeria citizenry. It’s such a sad testimonial that Nigerians are under siege in their own homeland, as they live with their hearts in their mouths. It is now a common IHDWXUH IRU WUDYHOHUV WR Á\ LQWR .DQR WR DFFHVV Kaduna via the Kano-Zaria Expressway. What could be a more harrowing experience than this that consumes time DQG HͿRUWV WKDW FRXOG EH HPSOR\HG LQ RWKHU viable endeavors? This writer grew up in Northern Nigeria where all and sundry could thread as they wish from one part to the other without any harm or hindrance, neighbors were one another’s keeper. The diversity in the education hub of Zaria was a marvelous delight with a melting pot of intellectual exposition and diversity. Today,

reverse is the case as people who have other windows leave in droves to escape from the fangs of insecurity, kidnappings, amongst others. The helmsman of Kaduna State, Mallam Nasir El-Rufai has shouted to the high heavens as regards curbing the menace of insecurity. He’s between the Devil and the GHHS EOXH VHD DV KH ÀQGV KLPVHOI LQ DQ unenviable situation that no one whatsoever desires. The law enforcement agencies are stretched at this rate with their boots on ground in all the stretch of the Nigeria federation. The Armed Forces are not left out of this scenario coupled with fact that they are not primed for asymmetric warfare that involves urban warfare. El-Rufai posited recently that communities such as Katari, Rijana and Akilibu along the Kaduna-Abuja Expressway should be wiped out to curb the criminality of terrorists and informants. He also added earlier that the military knows the location of the bandits and they should be carpet bombed. In military circles, the number one citizen of Kaduna State is perceived as a meddlesome interloper. The NSA, General Babagana Monguno (retd) reiterated this fact that the Kaduna State governor talks too much and gives away

What insecurity translates into is that investor’s conﬁdence takes such a huge dent with the safety of lives and property that is suspect

WRR PXFK LQIRUPDWLRQ ² 7KH 16$·V R΀FH later denied this statement. What insecurity translates into is that LQYHVWRU·V FRQÀGHQFH WDNHV VXFK D KXJH dent with the safety of lives and property that’s suspect. Nobody wants to experience the psychological trauma of being caught in the den of daredevil kidnappers and bandits. The AK9 Train is the most recent incidence with the statements from abducted passengers and the birth of a baby by a mother while in captivity which has sent shivers down the spine of the whole nation. It’s takes unimaginable bravery to ply the Kaduna-Abuja Expressway at this rate, a sojourn of less than two hours. The recent clamour and uproar by the families of abducted train passengers has led the Nigerian Railway Corporation (NRC) to suspend the resumption of rail services on this route. It’s been over 60 days under captivity for the passengers in the hands of these marauders who are dangling innocent lives as a bargaining chip to the government at the centre. It has sent tongues into an overdrive, a rehash of Chibok, Dapchi, Kankara, Tegina abduction of school students amongst others. 7KH H[FLVLRQ RI /*$·V LQ GLͿHUHQW VWDWHV across Northern parts of Nigeria by these savages is a clear and present danger. They collect taxes, marry young brides at will, impose their own strict and authoritarian reign on these areas with impunity. The helmsmen of these states have told anyone who cares to listen that things can no longer FRQWLQXH OLNH WKLV ZLWK QR HͿRUWV LQ SXEOLF domain to send these unwanted elements to their early graves and spare innocent civilians the wrath that has made people unable to sleep with their two eyes closed in day and night. It’s imperative for the PMB led APC administration to employ community inclusion as a panacea to address insecurity in the land. The millions of out-of-school children and the unemployed hands constitute a window for the Devil’s workshop. These drawbacks have seriously DͿHFWHG WKH DJULFXOWXUH DQG DOOLHG LQGXVWULHV in Northern Nigeria where the attendant risks of farming and livestock husbandry KDYH EHHQ DͿHFWHG WKDQNV WR WKH GDVWDUGO\ acts of these non-state actors on civilian population. The status of Internally displaced persons in Nigeria leaves a sad taste in one’s mouth. In a sovereign nation it’s a pity that a lot of people cannot live and thrive peacefully in their motherland. Time will tell whether the PMB led administration will play the Alexander the Great role to untie the Gordian knot of insecurity. Ajanaku is a Communications Specialist based in Lagos

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T H I S D AY

WAHAB ADAMU argues that APC leadership’s quest for consensus to choose its presidential candidate is no longer feasible

APC’S SEARCH FOR CONSENSUS The ruling All Progressives Congress leadership’s quest for consensus as the mode of selection of its presidential candidate for the 2023 general election may have become unfeasible given the determination of many of the 28 aspirants to assert their right to be rated by the party’s delegates that are expected to converge on Abuja next week. Incidentally, the indication that this was the preferred mode of selection emerged early but the process of enforcement would appear to have been mismanaged. It is believed that one of the reasons President Muhammadu Buhari initially refused assent to the 2010 Electoral Act Amendment Bill was because of Section 84 which made direct primary the only mode of selection of candidates, excluding the president’s preference for consensus. But the National Assembly included direct primary and consensus following intense negotiations with the president. However, the federal legislators in a deft move to curb the habitual excesses of the executive arm, particularly at the state level tied the hands of the party leadership with LWV FOHDU GHÀQLWLRQ RI FRQVHQVXV LQ 6HFWLRQ 84 (9) which requires that “A political party that adopts a consensus candidate shall secure the written consent of all cleared aspirants for the position, indicating their voluntary withdrawal from the race and their endorsement of the consensus candidate.” +HUHLQ OLHV WKH GL΀FXOW\ RI WKH SDUW\ leadership. In the past, the candidates would have been railroaded or coerced into abandoning their interests. The law now requires that every cleared aspirant would have to voluntarily withdraw their intention to UXQ 7KLV KDV EHFRPH GL΀FXOW IRU WZR UHDVRQV 7KH FDOLEUH RI DVSLUDQWV DQG WKH ÀQDQFLDO DV well as emotional investments in the internal

Although it has been suggested that the president could bring the weight of his oﬃce to compel withdrawal, this is less feasible given the requirement of Section 84 (9), which places a premium on consent, and Section 84 (10) that stipulates a contest where an aspirant refuses to stand down electioneering. Among the aspirants are Bola Tinubu, twoterm governor of Lagos State, former senator and founding member of APC; governors of Ekiti, Jigawa and Kogi States, Kayode Fayemi, Abubakar Badaru and Yahaya Bello; ministers Rotimi Amaechi, Emeka Nwajiuba, Ogbonnaya Onu and Godswill Akpabio; and Ken Nnamani, a former president of the Senate. These are political heavyweights that cannot be perfunctorily pushed aside without serious consequences for the party. This is more so when the money and the time they had committed to their aspiration are taken cognisance of. Each had purchased nomination forms for N100 million and has traversed the states of the federation to canvass their intentions among the delegates. Serving ministers too had been compelled to

relinquish their positions while the not-tooknown aspirants have had put aside their businesses to pursue their aspirations. How would the party leadership convince these people to stand down? What would be the criteria for such a decision? Although it has been suggested that the SUHVLGHQW FRXOG EULQJ WKH ZHLJKW RI KLV R΀FH to compel withdrawal, this is less feasible given the requirement of Section 84 (9), which places a premium on consent, and Section 84 (10) that stipulates a contest where an aspirant refuses to stand down. Yet a contest, the party leadership fears, is a risk it does not want to take because of its potential for strife or implosion. The APC would, therefore, appear to have found itself between the devil and the deep blue sea. Which way does it go? The way forward, it would seem, is to weigh the risks and choose the one with a lesser danger. To achieve a consensus, the law requires the voluntary consent of all the cleared aspirants to agree on one of the aspirants as the preferred candidate. The operative word here is “cleared” aspirants. Can the party, using its internal rules prune the number of aspirants by weeding out those that could be recalcitrant? The answer is yes. But what would be the rules and criteria for the weeding exercise as the law requires transparency in the entire process? In DQ\ FDVH WKH TXDOLÀFDWLRQ IRU WKH SUHVLGHQF\ LV stipulated in the 1999 Constitution as altered and the Electoral Act 2022, and no political party could add or reduce the criteria. Reference has been made to the use of consensus during the selection of the national leadership during the special convention of the party in March this year. Apart from the IDFW WKDW WKDW ZDV D FRPSOHWHO\ GLͿHUHQW EDOO game as it was a contest for party positions, it actually showed how undemocratic the selection method could be as many of the aspirants barely restrained themselves from challenging the outcomes in court. The stakes this time around are higher because the emergent candidate will slug it out at the general election with the opposing Peoples Democratic Party’s candidate. In any case, how problematic consensus could be, has been clearly demonstrated by the contests for the lower positions, including Senate, House of Representatives, governorship and state Houses of Assembly. If aspirants for positions with lower stakes ÀQG LW XQGHVLUDEOH WR DJUHH KRZ HDV\ ZRXOG LW be for the ones eyeing the biggest ticket of the party to forgo their money and time? The less hazardous way for the party, it would seem, is for the party leadership to FUHDWH D OHYHO SOD\LQJ ÀHOG IRU WKH DVSLUDQWV to test their popularity at the delegates’ meet already slated for next week. In doing this, the party would be consolidating its democratic content which it established way back in 2015 in Lagos when it nominated Buhari from among heavyweights, including Abubakar Atiku, a former vice-president; Musa Kwankwaso, two-term governor of Kano State and former minister; and Rochas Okorocha, then a battletested governor Imo State. That that contest was not attended by rancour was a testimony to the fairness of the process, an indication that a repeat performance this time around could only strengthen the solidarity of the party and its electioneering machine.

Adamu, a member of the All Progressives Congress, writes from Kano

WEDNESAY MAY 25, 2022

The Internet has become a good platform to engage in advertising, sales and promotion of services, writes SONNY ARAGBA-AKPORE

THE INTERNET AND DIGITAL MARKETING TRENDS With growing access to the internet in Nigeria, and the global communities, smart people have begun to leverage this for online trading, sales and advertising of products and services. To order for a car ride for instance, one does not need to know anybody or company. All one needs is any alp of Uber, Bolt and the recently introduced Rida. It’s as simple as that. And the beauty of this is that the ride fares are empirically given depending on the time of the day. There are off peak and peak periods for these transactions. Many people, especially celebrities, musicians, artistes, journalists, politicians now make their presence felt on instagram, Facebook, Snapchat, among others. For the elite, LinkedIn is where you find them. Twitter is in a word of its own as it’s where you find members of the upper echelons who communicate almost every minute of the day their breakthroughs and escapades and sometimes just information for public consumption. All of these platforms create opportunities for users to engage in advertising and sales and sometimes outright promotion of products and services. But all these are predicated on a working internet even if not necessarily robust yet and of course smart devices including but not limited to phones and tablets. Electronics commerce and electronic business are on the rise and this trend has created mega operators where owners don’t need to fire a shot to attract the expected dividends. Amazon, Jumia, Konga, have made sizable impact on individuals who shop from the comfort of their homes for the products and services they desire. Jiji joined the train and has become a veritable platform where people buy and sell. As internet access and adoption grow increasingly worldwide, the number of digital buyers keeps climbing every year. In 2020 alone, over two billion people purchased goods or services online, and during the same year, e-retail sales surpassed 4.2 trillion U.S. dollars globally. Mobile phones are boosting e-commerce traffic. One of the most visible trends in the world of e-commerce today is the large scale usage of mobile devices. In 2021, smartphones accounted for almost 70 percent of all retail website visits worldwide, even though desktop and tablet visits generated higher conversion rates in 2020. Adoption of mobile devices is also on the rise at a rapid pace, especially in regions that lack other digital infrastructure. And mobile integration will continue to shape the shopping experience of the future. M-commerce is particularly popular across Asia, with countries like South Korea generating up to 65 percent of their total online transaction volumes via mobile traffic. Market leaders have emerged in the world of e-commerce and this creates opportunities for Internet users to choose from various online platforms to browse, compare, and purchase the items or services they need. While some websites specifically target B2B (business-to-business) clients, individual consumers are also presented with a vast number of digital possibilities. As of 2019, online marketplaces accounted for the largest share of online purchases worldwide. Leading the global ranking of online retail websites in terms of traffic is Amazon: The Seattle-based e-commerce giant that offers e-retail, computing services, consumer electronics, and digital content registered over 5.2 billion unique visitors in June 2020. In terms of gross merchandise value (GMV), however, Amazon ranks third behind Chinese competitors Taobao and Tmall. Both

platforms are operated by the Alibaba Group, the leading online commerce provider in Asia. In its Global Digital Insights released recently, DataReportal put Nigeria’s total population at 214.1 million in January 2022. Data show that Nigeria’s population increased by 5.3 million between 2021 and 2022. It says 49.3 percent of Nigeria’s population is female, while 50.7 percent of the population is male. DataReportal says that at the beginning of 2022, 53.4 percent of Nigeria’s population lived in urban centres, while 46.6 percent lived in rural areas. The median age of the population in Nigeria is 18.2. The report further says there were 109.2 million internet users in Nigeria in January 2022. Nigeria’s internet penetration rate stood at 51.0 percent of the total population at the start of 2022. Kepios analysis indicates that internet users in Nigeria increased by 4.8 million between 2021 and 2022. What this means is that 104.9 million people in Nigeria did not use the internet at the start of 2022, showing that 49.0 percent of the population remained offline at the beginning of the year. Ookla published data indicate that Median mobile internet connection speed via cellular networks stood at 17.38 Mbps. Fixed internet connection speed is 10.06 Mbps. Ookla’s data further reveal that the median mobile internet connection speed in Nigeria increased by 4.88 Mbps in the 12 months to the start of 2022. Ookla’s data also indicated that fixed internet connection speeds in Nigeria increased by 2.42 Mbps during the same period. There were 32.90 million social media users in Nigeria in January 2022 according to the data. Data Reportal analysis says the number of social media users in Nigeria at the start of 2022 was equivalent to 15.4 percent of the total population, but it’s important to note that social media users may not represent unique individuals. For instance data published in Meta’s advertising resources indicate that Facebook had 26.10 million users in Nigeria in early 2022. However, Meta made important changes to the way its advertising resources report audience reach data at the end of 2021 – including making significant revisions to its base audience data for Facebook. The company’s revised audience figures mean that Facebook’s ad reach in Nigeria was equivalent to 12.2 percent of the total population at the start of 2022. However, Facebook restricts the use of its platform to people aged 13 and above, so it’s also worth highlighting that 19.8 percent of the “eligible” audience in Nigeria uses Facebook in 2022. Facebook’s ad reach in Nigeria was equivalent to 23.9 percent of the local internet user base (regardless of age) in January 2022. The report says that at the start of 2022, 41.2 percent of Facebook’s ad audience in Nigeria was female, while 58.8 percent was male. Google’s advertising resources indicate that YouTube had 32.90 million users in Nigeria in early 2022. This figure means that YouTube’s 2022 ad reach was equivalent to 15.4 percent of Nigeria’s total population at the start of the year. In clear terms, YouTube ads reached 30.1 percent of Nigeria’s total internet user base (regardless of age) in January 2022. Aragba-Akpore is a member of THISDAY Editorial Board

WEDNESDAY MAY 25, 2022•T H I S D AY

WEDNESDAY MAY 25, 2022• T H I S D AY

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T H I S D AY WEDNESDAY MAY 25, 2022

ERASMUS IKHIDE pays tribute to Aregbesola, former Governor of Osun State

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The Presidency should be zoned to the Southeast in the interest of the nation, argues SONNIE EKWOWUSI

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4 31

T H I S D AY

WEDNESAY MAY 25, 2022

EDITORIAL

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

THE MOUNTING DEBT CHALLENGE The rate of borrowing is excessive

lready battered by high levels of socioeconomic stress, Nigeria’s ever rising debt portfolio is causing increasing anxiety. The debts have become huge liabilities, unsustainable and inimical to economic growth and development. Unfortunately, the authorities have continued to sneer at genuine concerns as the loans keep piling up, raising the spectre of another debt trap in future. )LJXUHV IURP WKH 'HEW 0DQDJHPHQW 2΀ FH '02 reveal that as of second quarter of 2020, the national debt stock increased by N2.38 trillion within three months. Between 2020 and 2021 the country’s public debt rose from N33 trillion to N40 trillion, about 20 per cent increase. Only recently, the Centre for the Promotion of 3ULYDWH (QWHUSULVH &33( sounded the alarm that national debt, in addition to that of the Asset Management Corporation of Nigeria, and borrowings from the Central Bank of Nigeria, could soon hit N50 trillion. Expectedly, the federal government accounts for the bulk of the public debt, chalking up N33 trillion while the states ate up the rest. To be sure, the amount borrowed is still within the limits set by the World Bank for debt to Gross Domestic 3URGXFW *'3 UDWLR %XW VDPH FDQQRW EH VDLG RI WKH amount being used to service the debts. Nigeria has a poor revenue base, and still dwindling ruinously, despite the current spike in oil prices because of the war between Russia and Ukraine. Nigeria’s revenue to GDP is a meagre 9 per cent, one of the poorest on the continent. Ghana, a little above Lagos in population, in comparison raises 13 percent. Meanwhile, debt service to revenue has been on an upward swing: from 21.2 per cent in 2011 to 51.9 per cent in 2015. In 2016, the amount MXPSHG WR SHU FHQW DQG E\ WKH À UVW TXDUWHU RI it had hit 99 per cent. $FFRUGLQJ WR WKH ,QWHUQDWLRQDO 0RQHWDU\ )XQG ,0)

Nigeria spent 86 per cent of its revenue on servicing debt in 2021, leaving little room to do anything else tangible. The high rate charged by investors for servicing debt is attributed to the country’s risky economic environment. South Africa’s total debt of $261 billion for instance, almost thrice that of Nigeria at the same period, attracted a 20 per cent debt service. While borrowing could be healthy for the economy as it may help to ramp up vital infrastructure for economic growth and development, there is little evidence on ground that the funds are being properly utilised. Over the years, the federal and states governments had accumulated huge debts at public expense which were largely frittered away. That revenues which would have been used for human development are channelled to debt servicing and payback is a serious cause for concern. Many believe that Nigeria does not need to borrow if the leakages and the propensity to siphon public funds LQ WKH PLQLVWULHV GHSDUWPHQWV DQG DJHQFLHV 0'$V are eliminated. The instant case of the suspended $FFRXQWDQW *HQHUDO RI WKH )HGHUDWLRQ $*) $KPHG Idris over alleged N80 billion fraud and another involving the former Managing Director of the Niger 'HOWD 'HYHORSPHQW &RPPLVVLRQ 1''& 1VLPD Ekere to the tune of N47 billion are clear pointers to the rot within. In its 2020 Macroeconomic Outlook, the Nigerian (FRQRPLF 6XPPLW *URXS 1(6* VWDWHG WKDW 1LJHULD·V PRXQWLQJ GHEW SURÀ OH ZDV D PDMRU FRQFHUQ GHVSLWH the country’s $900 billion worth of dead capital in property and agricultural lands. While borrowing may be inevitable, especially at a period like this, there are serious concerns at the rate these debts are being piled up. Aside the fact that the funds are not being deployed into projects that generate income, borrowing should not be done in such a way to mortgage the future of the country and its sovereignty.

While borrowing could be healthy for the economy as it may help to ramp up vital infrastructure for economic growth and development, there is little evidence on ground that the funds are being properly utilised 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 USING COAL TO GENERATE POWER IN NIGERIA Clean coal is the new deal in America and most parts of the world, but one wonders why we forgot about Enugu and the coal power. Enugu with its colliery mines used to be the heartland for the energy sector in Nigeria. But once the mines shut down we haven’t gone back to the development of coal. I must add coal can be used for many forms of energy generation. 7KH FOHDQ FRDO WHFKQRORJ\ GHYHORSPHQW HͿ RUW KDV SURYLGHG DQG ZLOO FRQWLQXH WR SURYLGH VLJQLÀ FDQW HFRQRPLF HQYLURQ PHQWDO DQG KHDOWK EHQHÀ WV (FRQRPLF EHQHÀ WV DULVH LQ D QXP ber of areas. The CCT Program has been instrumental in the commercialization of technologies such as AFBC and IGCC. The program has also demonstrated a variety of new options for the control of sulfur oxides, nitrogen oxides, and particulate emissions from electric power plants operating on coal. Considerable economic activity is generated through the sale, design, construction, and operation of these new technologies. Furthermore, these new power generation and pollution control options will permit coal to continue to be used as a fuel while minimizing environmental impacts. Because coal is the cheapest fossil fuel, its continued use will save billions of dollars that

can be invested in other economic activities. &&7 EHQHÀ WV WR WKH HQYLURQPHQW DUH REYLRXV 'HFUHDVLQJ SO2 and NOx emissions reduces acid rain, which in turn reGXFHV DFLGLÀ FDWLRQ DQG HXWURSKLFDWLRQ RI ODNHV DQG GDPDJH WR forests and other vegetation. It also reduces damage to structures made of steel, limestone, concrete, and other materials. CCTs have reduced the amount of pollutants emitted by fossil IXHO À UHG SRZHU SODQWV )RU H[DPSOH EHWZHHQ DQG emissions of sulfur and nitrogen pollutants from the average 8 6 FRDO À UHG SRZHU SODQW KDYH GHFOLQHG E\ DQG respectively. This has enabled coal use to more than double while allowing the United States to meet its clean air objectives. I think while Nigeria grapples with its energy needs and looks for solutions, clean coal could help. I know there is the climate debate but it is shocking most developed nations still use coal DV SDUW RI WKH HQHUJ\ PL[ ,Q $PHULFD FRDO VWLOO WDNHV RI WKH energy mix and we also could use coal in some measure. Let us all debate this. Rufai Oseni, rufaioseni@gmail.com

AISHA AND POLITICS WITHOUT BITTERNESS %DUU 3ULQFHVV $LVKD ,VPDLO 2ORNXQ 1HH 0RPRK LV D ZRPDQ IXOO of grace. A former aspirant for Etsako Federal Constituency, House of Representatives, 2022, she made a bold step forward recently by this declaration, never seen in recent times: ´, FRQÀ UP WKDW , ZLOO JLYH P\ XQDOOR\HG PDWHULDO DQG PRUDO VXSSRUW WR RXU SDUW\·V Á DJ EHDUHUV DW WKH DSSURSULDWH WLPH µ It will be recalled that late Alhaji Waziri Ibrahim, leader of the deIXQFW *UHDW 1LJHULD 3HRSOHV 3DUW\ *133 ZKRVH SDUW\ FDSWXUHG WKH WKHQ *RQJROD DQG %RUQR 6WDWHV À UVW FDPH XS ZLWK WKLV FODVVLF ´SROLWLFV ZLWKRXW ELWWHUQHVV µ ,QGHHG DV ,EUDKLP ULJKWO\ VDLG SROLWLFV FDQ RQO\ be without bitterness if the interest of politicians is service and not self. But sadly, Nigeria is coloured with politics with extreme bitterness, litigations, blood and sorrow and death! Here is our Princess Aisha Ismail-Olokun climbing the rooftop, saying outright no to politics of hatred and bitterness! Welcome to politics of amity and harmony! We may be archetypal political opponents but we are still family, in-laws, friends and colleagues! Mash Abubakar, Lagos

T H I S D AY ˾ WEDNESDAY, MAY 25, 2022

BUSINESSWORLD

INSURANCE

Addressing Insurers Poor Attitude Towards Claims Payment Claims payment is a very important aspect of insurance policy contract and given this position, its negligence is capable of sinking even the strongest firm. In this report, Ebere Nwoji looks at poor attitude of most insurers towards claims payment.

recent global report on insurance claims payment says that, “a less than satisfactory claims experience prompts one in five customers to switch insurance providers. As such, no insurance company worth its salt will neglect the issue of claims because doing so is at its peril.” Here in Nigeria, given the negative attitude of Nigerians towards insurance, unsatisfactory claims experience of an insurance client prompts one in five customers to completely jettison insurance patronage and even carry about his ugly experience to other members of the public who wish to buy insurance. This, therefore being the case, experts have called on Nigerian insurers to live up to their expectation in enthroning the regime of seamless payment of genuine claims. Insurance claim is a formal request for compensation made by a policyholder from an insurance company for loss (es) suffered under the terms/conditions of the policy. Ideally, insurance business is all about claims payment and claim is the main reason a policyholder takes up an insurance policy. Industry analysts said without claims being paid by insurance companies, people are not likely to take up insurance policies. According to the analysts, in every insurance contract, there is always a promise that when the eventuality (claim) happens the insurance company as a risk bearer would be there to compensate the insured/policyholder.

Director General, Mrs. Yetunde Ilorin, he was assured that she would get back to him after due consultation with the company in question but till date nothing came out of it. Yet, these companies every year float billions of Naira claims they said was paid to the media.

CLAIMS PAYING FIRMS

the unsatisfactory response to the settlement of claims by underwriters had greatly contributed to the prevailing poor public perception and lack of trust and confidence in the insurance industry. “Indeed, prompt claims payment is the best advertisement for the industry, therefore all genuine claims that have been duly verified and due process followed should be paid promptly. She-urged the National Insurance Commission (NAICOM) to put in place mechanisms to ensure Insurance companies meet their obligations to policyholders by CLAIMS AS TEST INSTRUMENT paying claims promptly, adding that it was the major Therefore claims payment serves as a test instrument reason they exist in the first place. “Claims payment that determines the extent to which an insurance company determines the valuable structure of the industry in lives up to the ‘utmost good faith’ promise. In other the economy, ”Ahmed stated. words, claim payment serves as brand image of an In Nigeria, the problem of insurance industry has insurance company. remained bad image. This according to industry analysts The importance of claims in insurance and poor at- has for decades stood as bane of the industry’s growth. titude of insurers towards fulfilling their claims obligation In their analysis, the bad image problem of the industry prompted the minister of finance Planning and budget dated back to early 19th century when insurance business Mrs. Zainadine Shamsung Ahmed, to state recently that underwriting was taken over by Nigerians from the early British managers running the few available insurance companies in the country. According to them, the way Nigerian managers carried out insurance business transactions especially in the area of claims payment at that time made the public to see insurers in bad light. They said until few years back, insurance industry operators were seen as group of fraudulent people that were out to collect people’s money only to cook up stories when claim occurs. The industry then was unattractive to work in as a result, operators were unable to attract young and vibrant school leavers to work in the industry.

INDUSTRY’S PROBLEM

Highlighting some of the industry’s problems, the analysts stated, “The way the practitioners package their policy statements and the products they offered to people also played role in building negative image for the industry. But in all, people felt more offended with the practitioners’ negative attitude towards claims settlement as they often use interpretation of the insurance policy wordings when claim occurs to shirk even genuine claims.” Against this backdrop, the industry and its practitioners looked like the Biblical salt that has lost its taste, which should be thrown away for people to tread upon. What this means is that since the essence of buying insurance is for the policy holder to be paid claims when there is risk but the insurers who are in the business to pay the claims are no longer paying, the insuring public decided to hold their money and carry their risks by themselves when they come. This was the genesis of the industry’s poor image and patronage problems until in recent years when modern managers started feeling the negative impact as while they were earnestly searching for patronage, some sector operators were busy taking their juicy accounts to foreign insurers whom they have more confidence in. This cuts across all sectors including government

business just because the public has no confidence in the ability and willingness of indigenous insurance firms to pay claims. The industry operators realising this some years ago, became determined to embark on image laundering for the industry through publicity. They set up a committee tagged insurance industry image committee led by one of the elders of the industry the late Mr Yinka Lijadu. The committee could not do much to boost the industry’s image until the late 90’s when the industry’s regulator the National Insurance Commission (NAICOM) took it upon itself to address the issue of low capital base which it envisaged was the cause of operator’s poor attitude towards claims payment. It pushed up the industry’s capital from N20 million to N100 million in the first instance for general business underwriters then to N300 million. The regulator under the leadership Fola Daniel took over and continued to push up the capital base of insurance firms to the present level of N 3 billion for general business., N2 billion for life , N5 billion for composite firms and N10 billion for reinsurers. Since then several efforts have been made by past and present leadership of NAICOM to increase the capital but to no effect. As these efforts met strong oppositions from both the operators and shareholders. But the operators have in the light of these failed in their report attempts to increase the minimum capital of the industry raised their capital above the prevailing minimum stipulated capital, given the double digit inflation now plaguing Nigeria, this existing minimum capital does not position the industry as a serious minded sector. More so as other sub sectors of the finance services sector have increased their capital; for instance, the pension sector, recently increased operators’ operating capital from N1 billion to N5 billion while the banks are girding up to increase their capital far above the existing N25 billion. Obviously one of the key effects of the existing low capital base of the industry is that operators currently shirk claims even genuine ones. To the extent that some mischievous operators as soon as they receive report of occurrence of risk for a business they insured often tell the loss adjuster to decline the claim even before seeing the extent of the damage done. These insurers have been having their way in this regard because it is said that he who pays the piper dictates the tune. Because it is the underwriters who pay the adjusters, the adjusters do their job to sooth the underwriters. But apparently this is not helping the industry.

PEOPLE’S EXPERIENCE AND SUFFERING

For instance, a foreign trained IT engineer working with one of the print media houses had two ugly stories to tell about the poor attitude of Nigerian insurers towards claims payment. He insured his camera and other working tools with one of the big insurance firms with corporate head office at Awolowo road Ikoyi. But when he was attacked by armed robbers on his way back to his house from his office he lost the entire working tools to the robbers. He then filed his claims to the company but instead of paying his claims the claims officer started bringing up a lot of clauses and interpretations in the policy documents, which no body explained to him at the beginning of the policy contract. Again, he bought insurance policy for his house in Agbo Delta state. According to him, he bought the policy from one of the big insurance firms with corporate head office at Iponri Lagos. The IT engineer said he insured the house against flood, which was ravaging the area. He said the insurance firm made him to pay for policy extension to cover flood risk but that when the risk occurred, the company denied the claim saying what damaged his house was erosion not flood. When he approached the National Insurance Commission he was told that there is no clear difference between flood and erosion. He then approached the management of Nigeria Insurers Association and after consultation with the

However, there are some industry operators who have proven that it is no longer business as usual through positive attitude towards claims payment. Few years ago along Ikorodu road, two motorist driving different brands of Sports Utility Vehicle (SUV) were involved in accident. While they jumped out of their vehicles to commence the usual argument that often cause long traffic jam at accident spots on Nigerian roads, an employee of Mutual Benefit Assurance, one of the underwriting firms in another vehicle recognised one of them as his company’s policy holder and approached her immediately telling her that she insured the vehicle with his company. While the woman was trying to understand what he meant, he called his office and within a short while a towing van was brought to carry the damaged SUV for repair. This was surprising to both parties, that just for N5000 premium paid, the insurance firm took it upon itself to bear the cost of repairing the vehicle. Both the industry regulator and leaders of the various trade groups in the industry have realised this and they are currently leaving no stone unturned in their effort to ensure that the operators pay genuine claims promptly. Effort in this direction started during the administration of late Chief Oladipo Bailey as the industry regulator when in 2002, he compelled the operators to pay claims that emanated from the Ikeja cantonment explosion. Indeed Bailey prevailed on the operators to pay both genuine and spurious claims from the incident as a way of advertising the industry. Also during the Dana Air crash of June 3, 2012, both the umbrella body of insurers the Nigerian Insurers Association and NAICOM prevailed on operators involved in the contract to pay claims to the victims’ dependants not minding that some employers of the victims have not renewed the contract, which was due for renewal in January. The insurers were compelled to pay the claims under the consideration of what the then chairman of Nigeria insurers Association (NIA) Mr Ladipo Ajayi called ‘gentleman’s agreement’. These were meant to advertise the industry as claims paying industry before Nigerians and to save the industry from the existing bad image occasioned by non-payment of genuine claims by the early practitioners. Before now Fola Daniel had told the operators that the biggest awareness creation and advertisement they could do is to pay genuine claims without much argument. To ensure that genuine claims are paid without much argument both the NIA and NAICOM had set up what they tagged customer compliant bureau where any member of the insuring public that has unsettled claims should lodge his complaints. According to NIA, the bureau will serve as a place where displeased claimants can lodge complaints against insurance companies in Lagos. At the inauguration of the bureau, the then NIA chairman, Mr. Olusola Ladipo-Ajayi, identified the need to change the poor public perception of the insurance industry as a major reason for introducing the bureau. According to him, ”Over the years, incidences of unsatisfactory response to settlement of claims by underwriters seem to have contributed to the poor public perception of insurance as a financing option. Today, we want to shake off the yoke of the inglorious past and chart a new beginning for the insurance industry anchored on the principles of trust and utmost good faith, the basic pillars of insurance practice.” He said that after a comprehensive review of the situation, especially as it concerned confidence building mechanisms, the NIA had come up with the idea of establishing a Customer Complaints Bureau intended to provide the needed platform for intervention in cases of dispute leading to delay or non settlement of claims.” The objectives of the bureau, he stated, are to serve as alternative dispute resolution mechanism, providing an independent opinion on disputes that might arise in any insurance transaction between members of the association and policyholders; and reducing the cost of obtaining justice in respect of insurance related matters, especially those involving members of the association. NAICOM said its own Complaints’ Bureau as a unit established in accordance with section 8(a) of the National Insurance Commission Act No. 1 of 1997. It serves as an organ to which members of the public may submit complaints against insurance companies and intermediaries. The commission said the bureau is to handle all insurance disputes arising from insurance policies issued by registered insurers, such as undue delay in settlement of genuine claims, denial of liability, where the complainant is convinced that there is liability. NAICOM said the insuring public should seek for the intervention of the bureau only after the complainant has failed to reach settlement with the insurer, or intermediary, in respect of a matter properly reported or lodged with the insurer or intermediary. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY, MAY 25, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Anyanwu: How Insecurity Costs Nigeria $13bn Annually In this exclusive interview with James Emejo, Country Director, Mercy Corps Nigeria, Mr. Ndubisi Anyanwu, assesses the humanitarian situation in the country taking into account its cost implication. Among other things, he said policy consistency; strong institutions and quality leadership are critical for improving deliverables in the humanitarian space What is the quantum of the humanitarian crisis and its impact on the Nigerian economy? bviously, we are working in a very difficult humanitarian context; particularly in the Northeast has been a context that is quite challenging for us for a decade now. We have a situation where you have 10.8 million people that have been displaced due to conflicts and other issues in the region. We have a situation in the MiddleBelt region where you have the farmer-herder crisis and this crisis goes beyond the farmers and herdsmen, it also extends to communities that are at war with each other over natural resources. In fact, we did a study in 2013 that basically looked at a scenario where we have peace in the Middle-Belt states, if there was peace in those states alone, we would have been adding $13 billion per year to the nation’s GDP in a scenario of peace. So, you can see why interventions when it comes to peace and conflict between the farmers and herdsmen or inter-communal crises, or even the banditry now that we are seeing; how it can take a toll on the economy. So, our approach is to focus on not only providing peace or resolving conflicts, or bringing warring communities together but also combining it with development and that’s where we have some of our programs. For instance, we have the USAID funded Feed the Future program. This ticks the economic development box and it’s aimed at supporting farmers with agricultural inputs and it is focused on improving agricultural impacts and also leading to economic opportunities and providing training to farmers, especially women farmers who are operating in a very fragile context. So far, we have trained about 540,000 farmers with the inputs and tools needed to thrive in that area and again combining peace and development. But it has been quite a difficult context operating in the Northeast with the Boko Haram situation which has also given rise to the numbers of displaced individuals. So as an international non-governmental organization, we are also focused on making sure those returning to their communities are safe and I think the Borno State Government has been doing a great job in making sure that this happens in a safe way. We are not here to replace the government, but we want to contribute our quota and do those interventions that have a lasting impact on our beneficiaries. In terms of our impact, in 2021, we reached about 1.5 million beneficiaries in areas such as education, income-generating programs, sanitation, peace building, conflict resolution, and agricultural systems. And of course, we want to also make sure that no one is left out when it comes to financial inclusion, which is also a theme across our programs. I think what sets Mercy Corps apart from other organizations who operate in our space is what I call the three Cs; and one of them is collaboration – collaborating with governments at federal and state levels, different stakeholders, collaboration with the private sector, we work to ensure we achieve neutral objectives. And the other C which I’d to talk about is community acceptance and I think that’s really big for us. When it comes to community acceptance, Mercy Corps really stands out in the community that we operate and they tell it to our face that ‘you really have impacts’, and I think it’s because of the third C which is context- I mean we pride ourselves in the ability to understand the context of Nigeria and that speaks to a larger strategy for Mercy Corps. We are a diverse organization, and our values are through diversity. We believe that we have to raise African leaders who understand the context in which they operate.

Could you possibly quantify your interventions in the country in monetary terms over the last decade? Yes, thank you but first, it should be clear that we are not a donor – Mercy Corps is an implementer. We work with donor countries like United States, the European Union (EU), and United Kingdom (UK) – without their support, we won’t be able

Anyanwu to do what we do and our strength is in implementing those interventions. We are also looking to of course, diversifying into other mix of donors including some of our national foundations. But in terms of our interventions, our portfolio is about $127 million, and we have about seven programs running. Looking at the total sums of our interventions, when you look at Mercy Corps globally, I think we are probably in the top three, in terms of the funding we get for our interventions. And in terms of how we are utilizing that kind of funding as I said, as an organization, we are committed to interventions especially when it comes to conflict situations; when there is a crisis, Mercy Corps is the type of an organization that will be going in as opposed to coming out. I will just share a few of our interventions: I mention that youth empowerment is a major pride for us, we provide about seven million youths with livelihoods supports. In fact, just this past February we graduated about 5,400 youths from vocational training, which they benefitted from. We are very sensitive about gender diversity and social inclusion and we try to make sure women and girls are taken into consideration in all our interventions. More specifically, women and girls make up 50 percent of the entire program beneficiaries. I mentioned the Rural Resilience Activity, which is a USAID funded program and, in that program, 70 percent of the beneficiaries are women. I also mentioned the training of farmers, and these are women enrolled in what we called Farmers Field Schools, where they learn the basics of farming and that’s another major area that we focus on. When it comes to peace and conflict resolution, we have a program called Community Initiative to Promote Peace (CIPP). And I think when it comes to peace and conflict programs, we get some of the largest funding

from USAID. We have three of such programs running: Community Initiative to Promote Peace focuses on the farmer-herder crisis in the Middle Belt, looking at all the issues that affect social cohesion. And we also have another EU funded project which focuses on the management of natural resources; not only between the farmer and herder but also you have inter-communal crisis and there are also some elements of banditry which we are looking at as well. There’s another USAID program that focuses on early warning signals in communities called PARTNER. So that when there is a brewing crisis, we work with the community teams to sound a warning ahead of time before things get out of hand. I also talked about Small Town Wash, which is another USAID funded program that focuses on the issue of water as a scarce resource. That’s another program that’s very significant when it comes to washing and hygiene, which is helpful in the prevention of diseases such as cholera and other health issues. Now, going back to the North East, we have a program called ADAPT which focuses on providing our beneficiaries with shelter and resettling them. But like I said, achievements in the North East haven’t come without struggles but we do try to work with the state government and the Governor, Prof Zulum has been very supportive of our efforts and we just try to stick to our mission of supporting Nigeria, empowering people and helping to get the resilience. It’s a very fragile context and we believe that we have to intervene. As I mentioned, we are under the next phase of humanitarian early recovery and development and we can’t ignore the fact that Nigeria is still a country where there are lots of opportunities to scale up development and to scale up employment to really support youths to achieve their hopes and dreams. Mercy Corps also want to be in the forefront to de-risk the environment so potential investors could also go into some of those places. And we also want to ensure there are opportunities for people to also be part of the financial architecture of Nigeria. What is the vision behind the work that you do at Mercy Corps? Mercy Corps is a global humanitarian and development organization and we have been operating in over 40 countries around the world basically to provide urgent life-saving systems for people in need. We’ve been in Nigeria specifically for 10 years now and so 2022 will be a decade of us operating in Nigeria. We have been working in a very difficult part of the country and our work is around a couple of different strategic objectives and I will talk about a few of them; one is addressing the root causes of conflicts, we are working on our program around increasing trust and accountability between government and the citizenry and also focused on responding effectively to humanitarian needs and we are doing that most in the northern part of the country. We are big on youths and empowering young people and the fifth objective is looking at improving livelihood and focusing on what we call market systems development, taking the approach of improving people’s lives economically. In these areas I have talked about, this builds on our global strategy of Mercy Corps, which is focused on four areas; one is food security, water security, and economic development and there is also work around peace and conflict. So when you look at the Nigeria programs, all our programs fit into these categories. That’s essentially our vision globally. Our mission in Nigeria is that we want to support a Nigeria that is empowered, one that is engaged, resilient, and secure.

Our work in terms of our geographical spread - we are in the Northeast including Adamawa, Borno, Yobe, and Gombe. We are also operating in the six states in the Middle belt including Benue and North Central, which includes Benue, Kogi and Plateau states and that work is around peace-building and conflict. We are also hoping to expand beyond those states into the North West. We now have an office in Kebbi, we are looking at some work in Zamfara, given the context in the North West and what we are seeing there; and we are also looking to work in the South-East; we have programs there focused on wash and hygiene and that should be coming up soon. And also the urban areas like Lagos where we are trying to focus on programs for boys and girls. I also want to mention that in terms of our staff strength, we are about 400 team members, 28 of which are expatriates or international team members but 92 percent of our team members are national team members. Given the level of the humanitarian crisis in the country, do you think more intervention organizations are required to save the day? I will answer this question in my own personal capacity as a Nigerian. Honestly, I don’t think Nigeria needs these kinds of interventions and I think Nigeria has everything that it needs in terms of natural resources and endowments – it has youthful that is vibrant, very intelligent people, we don’t have any shortage of talent – and I think it’s really about leadership, it’s about competence, and it’s about capacity…there are some inherent issues that naturally becomes a challenge whether you are talking about climate change or managing the diverse people within the country or managing the economic situation due to elements like the COVID-19 pandemic but I think, all in all, there’s an opportunity to really focus and scale-up development in Nigeria. Having clocked 10 years of operations in Nigeria, what is your endgame; are you calling it quits? Yes, I think this again speaks back to our mission; we are not really trying to replace the government but we are here to support the development of the country and do our part in terms of empowering the people and helping them resist the shocks that come their way and also help Nigeria to be secure. And I think that’s basically what our endgame is. We’ve come a long way since 2012 and when we came in 2012 we had just one project called Creative Based Conflict Management and Cooperative of Resources and we had another program called ENGINE which was a UK funded program focusing on educating young girls and this was in 2013. So, again coming from these two programs to the range of programs we have now when you look back, it’s really a landmark for us and we are really proud of the integrations that we have in our ENGINE program…we are really proud of some of our interventions and I think in looking at the priorities going forward is to really expand the development of our interventions beyond the current areas that we are operating in; not only focusing on the fragile areas of the North East and North West but also to support development, support youths and to support programs that are in urban areas, especially places like Lagos. We are also looking at how we can leverage support and interventions from the private sector to scale up development and I think it’s a clarion call for the private sector to really see their role in improving the security of this country because if you don’t have a secured nation your investments may be insecure as well. Going by your experience, how can government policy improve deliveries in the sector? One thing I could think of is that the government needs to speak with each other and the different agencies are often disconnected and they have to be more interconnected. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

AGUSTO & CO: NIGERIA’S DEBT ROSE STEEPLY BY 226% TO N39.56TRN IN 7 YEARS, Tax (VAT), from 5 per cent to 7.5 per cent in 2020, failed to yield a significant impact as the average Nigerian consumer continues to grapple with falling purchasing power and stagnating incomes. “We believe that the revenue problem would be addressed more effectively if fiscal reforms

were directed at broadening the tax base and capturing the informal economy (estimated to be around 65 per cent of GDP by the International Monetary Fund (IMF), as opposed to intensifying efforts to impose additional taxes on those already subject to taxation. The reality is that many informal businesses

are compelled to pay levies, albeit informally and frequently to agents, commissioned by governments at the sub-national level, who remit agreed-upon sums to the authorities.” “In many instances, these levies are collected regardless of whether or not the informal business earns revenue; they are compelled to

comply by the prospect of force or loss and typically receive little benefit from these nonstate collectors. These informal levies have also been observed to constitute a larger proportion of their incomes as they contend with multiple levies from all tiers of government. The International

Center for Investigative Reporting (ICIR) estimates that Lagos State National Union of Road Transport Workers (NURTW) rakes in over N123 billion annually. “Significantly increased domestic revenue mobilisation is essential for decreasing budgetary risks and creating policy space. Key

near-term actions would include the permanent withdrawal of fuel subsidies in accordance with the Petroleum Industry Act (PIA), together with compensation measures for the poor and the efficient and transparent use of the saved resources, ”the report stated.

WEDNESDAY MAY 25, 2022 • T H I S D AY

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

EDUCATION Wahab: How Lagos is Providing Access to Quality Education Tokunbo Wahab, Special Adviser on Education to Governor Babajide Sanwo-Olu, who turned 50 on May 17, highlighted his achievements since the take-off of the administration, part of which is ensuring the seamless transition of the state polytechnic to the university of science and technology; and colleges of education to the university of education, as well as ensuring that students have access to quality education. Funmi Ogundare reports

hen Mr. Tokunbo Wahab, Special Adviser to Governor Babajide Sanwo-Olu on Education, assumed office in August 2019, he had one thing in mind; to make a positive impact and give no room for laziness and failure. Being his first time in public service, he had to hit the ground running. His watchword, ‘whatever is worth doing at all, is worth doing well’, was brought to bear to change the narrative as encapsulated in the ‘THEMES’ initiative of the administration and impact public schools from primary to primary tertiary institutions with laudable projects. Some of the projects amongst many, especially on tertiary where he holds forth, include; ensuring that Lagos State University (LASU) becomes a global brand. More recently, is ensuring the seamless transition of the Lagos State Polytechnic Ikorodu, Isolo and Surulere campuses to the University of Science and Technology, as well as Adeniran Ogunsanya College of Education, Ijanikin and Michael Otedola College of Primary Education, Epe, to Lagos State University of Education. The aim was to ensure students’ access to quality education and address the discrimination against NCE and HND graduates in the workplace. Asked how the administration will be able to manage three new universities and whether it will not pay much attention to LASU, Wahab said the government is already engaging the staff of the institutions to reclassify and redesignate them so that they can fit for the purpose to run the schools. “If you have four children, are you going to abandon three of them? As a responsible father, you must pay attention to each one of them. They have their unique needs. You won’t abandon one for the other. Our starting capacity for the University of Science and Technology is about 66 PhD holders,” explained Wahab. “For the university of education, it is about 95 PhD holders. They are already in the system. What we have to do is to reclassify and redesignate them to suit for purpose because a chief lecturer doesn’t fit into the university system. So that will start in the next few days or weeks. We are already engaging them, and I have the template.” He said the unions would also be included in the committee to be part of the discussion of the redesignation and what they needed to do, adding that applications have been received from about 30 professors who plan to do their sabbaticals in the institutions. “For the science and technology, we have 12. For Ijanikin and Epe, there are about 18. It is like a university of knowledge to attract the best across the country. Are we going to say we are leaving LASU behind? No. LASU is still our first among equals, and we will not leave the new babies. We will water and nurture them. I am glad we have the infrastructure in place. The human capital is there, so we are going to work on what we have and improve on them,” the special adviser added. For the processes of the reclassification and redesignation, he said the technical committee and the governing councils would engage the lecturers one after another to determine the parameters and the requirements they will need to become professors in a university. “Now that they have submitted the profiles of the lecturers, the technical committee and the governing councils will sit down and engage them one after the another to know where they fit in. For instance, we look at a chief lecturer and tell him the requirements to be a professor in the university. We will determine

Wahab the yardstick, and I believe once you carry them along, it’s going to be a give and take. Our take has always been that we should not throw anybody out. We don’t want anybody to lose their job as much as possible,” the Lagos governor’s aide further mentioned. Wahab thanked the governor and the Speaker of the House of Assembly, Mudashiru Obasa, and other lawmakers for the bill to establish the universities, ensuring it became law in February. Despite the ASUU strike in some states and federal institutions, Wahab said LASU did not join the strike because the governor believes that the lecturers’ needs should be taken care of. According to him, the institutions’ heads were taken abroad for a three-day capacity-building workshop to expose them to new ways tertiary institutions are run. “We can’t continue to be a big fish in a small pond. We needed to put them on a global pedestal and let them see it from that point of view. It is when you give them

that exposure that you can call them to the task that to whom much is given, much more is expected,” Wahab stressed. “The way we did it was structured in a way that there will be a second batch for the next level of training. For instance, we went with the vice-chancellors, deputy vice-chancellors and registrars. We did the same thing for Lagos State College of Medicine (LASUCOM).” Wahab emphasised the hostel facilities and lecture halls for the new universities saying that the administration will look at infrastructure viz-a-viz the number of students to make it attractive for the developers. “For LASU, we have 8,272-bed space hostels through a public-private partnership, but they have told us in writing that it would not be enough because the year one and final year students outweigh that, so we are going to have a typical market force. We may increase it and ensure that we commission the bed spaces before the end of this year. We inherited a 460-lecture hall capacity in Epe. Now the contractor is back on site. We can’t just abandon it. They need to look at the issues to be ready for the new set of students that will come into university from the next session, which is September/October of this year,” the Lagos official added. According to him, the Lagos government

We can’t continue to be a big ﬁsh in a small pond , we needed to put the university management on a global pedestal and let them see it from that point of view . It is when you give them that exposure that you can call them to task that to whom much is given, much more is expected

will do the same thing for Ijanikin. “We are ensuring that they have a lecture theatre that will facilitate a proper lecture environment for the new students. For Ikorodu, we are building a world-class admin building which we hope to commission by August,” Wahab stated. “Ikorodu and LASUCOM are also in dire need of hostels, they have done the approval, and you have to make it attractive to the developers.” Emphasising the low tuition fee regime, especially in LASU, Wahab stated that the administration’s vision is to allow access to quality education for students, adding that this will not affect the quality of output. “The governing council and the senate have their roles to play to ensure they don’t drop the ball in terms of quality. People need to know that education at the tertiary level is not supposed to be this cheap. But we are always very emotional about it,” he noted. “We did a survey of all the tertiary institutions in the southwest. Ours is the lowest. So what we have done is that we had asked LASU to increase, I think they are charging like N57,000, and for stream two, it is about N150,000, and it’s oversubscribed. For the two new universities, we are going to have an easy fee regime from the beginning so that we don’t shoot ourselves in the feet.” Asked what Lagosians should expect from his office, the special adviser said, “more work.” “It is about impacting your space and impacting lives, people and making a mark. When we talk about human capital, we ensure that the greatest number of people in that space feel the impact of the policy you have come to implement. Have I enjoyed it? Yes. It has been very challenging because we have had to make tough decisions, but we thank God for everything,” said Wahab. “The governor has done so much in this space, and I believe the whole gamut is the benefits that we will start seeing that he has invested in education. He increased the running cost from primary to secondary and invested in technical education.” The Lagos government has developed two new universities and invested in LASU’s infrastructure. “In his two and half years, he has ensured that the College of Nursing is now certified to award OND and HND in the nursing certificate. These are achievements that you can’t wave aside. The governor’s investment in education is beyond what I can speak enough about. His investment in human capital is the future of Lagos,” he further said. “It is like planting a Chinese bamboo tree, it will not germinate immediately, but after a few years, with patience and endurance, it will manifest. I thank him so much for believing in me and seeing me as one of those that could help drive that vision.” Asked what it is like to be 50, Wahab said,” I lost my mom when she was 49. I am hoping to be 95 years. I can’t be 95 if I am not 50. It has been a very unusual journey because we were orphaned in our 20s. I lost my dad in my final year. But we never gave up on life and hope. I believe in God and believe in myself, and I have been a child of unusual grace and mercy. God has granted me good health and wonderful family support. My wife and two kids have been very wonderful,” Wahab added. “Looking back for me has only been God. I thank him for his grace and mercy so far and for standing by my siblings and me when we were orphaned. It has just been a journey of thanks. It has not been smooth, and that has entrenched my faith in him beyond human comprehension. So as I turn 50, I want to do things my way henceforth, and I will keep thanking him. He thanked the governor for trusting in him.

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

EDUCATION

SUBEB Chairman: Gov. AbdulRazaq Returned Basic Education’s Lost Glory in 3 Years Prof. Shehu Raheem Adaramaja, a former don at the University of Ilorin and now the chairman of the Kwara State Universal Basic Education Board (SUBEB) spoke on the state of basic education, challenges, achievements, the newly introduced KwaraLearn programme, among other things in this interview with Hammed Shittu. Excerpts:

ow did you emerge the SUBEB chairman in Kwara? When Governor Abdulrahaman Abdulrazak came on board, he decided to have me as a member of his team. He asked me to come and oversee this place. What were the mandates handed over to you by the governor? Like I said earlier, I was handed this responsibility as a trust. SUBEB in Kwara was rotten. You would have heard that the former occupant of this office connived with some people in the account section and the Nigerian Union of Teachers, and some Micro Finance banks and cooperative societies to defraud the state to the tune of millions of naira. That is on the one part. On the other, it was also on record that the UBEC’s matching grant for 2013 was diverted by the previous administration. How much was diverted? Over N1 billion was diverted. The money was in our account, but they deceived UBEC. In the course of awarding the contract, the money was siphoned and used for other purposes for which they were not meant for. That led UBEC to blacklist Kwara State. What it simply means is that we can no longer qualify for grants from the commission. How did you and the state governor tackle the problem? Well, the situation led to the governor looking for someone who could help reform the place and bring back the glory of the state in education. The choice was me. The mandate is clear from the outset; go and reform the Kwara SUBEB. Let me also add that before I came, teachers’ morale was down. Paying their salaries piecemeal and in instalments was the order of the day. There were no promotions for hard work. Teachers were unwilling to go to work; our classrooms were dilapidated; there was no furniture. You enter some classrooms, and all you see are pupils sitting down. Enrolment in public schools had gone down seriously. This gave opportunities to private schools to thrive in the state. That was what the administration of Governor AbdulRazak met on the ground, and we are trying to reform it. How far have you gone in reforming the SUBEB? If I were given a chance to choose a governor I should serve under, again and again, it would always be Governor Abdulrahaman Abdulrazak. This is because we have an understanding that I have been given a clear mandate to go and reform this place. He has given me a free hand to work. But he asked me to apply wisdom and common sense in what I do. He meant common sense in the sense that you must know what you are doing. The governor is not just one you push a proposal to without the ability to defend it, and you think he will approve it. You must be able to convince him. And once you convinced him, you get our approval. You have to conceive meaningful ideas and defend and define the framework to actualise them. The result of this is what

Prof. Adaramaja you see in all 16 LGAs today. Go round them and see what we have accomplished. I told you that Kwara SUBEB was blacklisted. UBEC vowed never to have any form of relationship with the state again until the state returned N1 billion that was diverted. Before the former governor, Abdulfatah Ahmed left, he was paying the money in instalments but couldn’t finish it up until the expiration of his tenure. He left a deficit of about N450 million. How did the state get out of the UBEC blacklist? Governor Abdulrazak came on board, cleared the deficit, and UBEC opened another record for him. It was in the process that it was discovered that the state arrears in matching grants for 2014, 2015, 2016, 2017, 2018 and 2019; six years of arrears were waiting — the money all accumulated to N7.1 billion. To access that money, we have to match it up with our own N7.1 billion. This makes it a total of N14.2 billion. You can now see the reason why he needed a trusted hand to be here. When I came on board, what I met on the ground in our account was N14.2 billion. The governor has never for one day asked me to bring one naira from the money. With that money, we did adverts witnessed by UBEC and the Bureau of public procurement to massive infrastructural provisions for our schools. We did the construction of classrooms; some a block of two classrooms with offices, others, three classrooms with office, others with four blocks and so on. Others had VIP toilets because of our COVID 19 experiences. We

had to make water accessible in these schools. Earlier I talked about dilapidated structures where our classrooms were nothing to write home about. So we went into renovations, remodelling, and reconstruction of over 1,335 schools across the states. We also invested in teachers and pupils’ furniture. For the children, we provided 29, 005. This is a twin sitter that accommodates two students. What this means is that we had furniture for 58,010 pupils. We also provided for teachers for about 7,000. A teacher will have his own table, his own seat and two other visitors’ seats. In addition to that, we are also providing digital literacy. It’s like a mini-computer centre that prepares the students ahead. Because we knew that Kwara Learn would come. We looked for a cluster of schools, and in the place, we put digital literacy. We have it in every local government. We also invested in teachers’ capacity building. So, the reformation is total. Have there been results? Last year, in August, the All Progressives Congress, in conjunction with the presidency and UBEC, accessed all APC-governed states on utilisation of the matching grant from the commission. They came to Kwara, and we took them around all our projects. We had just started at the time, but at the end of the day, we were given first in the North Central. We then asked ourselves, if we were able to make first in the region with just 30 per cent execution of our project, what would happen if we had done everything before they came? Also, we enrolled in the Presidential Schools Debate last year. It was the first time the state would feature in that kind of contest. We camped the children for two months, training them. It was easy for me because back at the university, I was the chairman of the faculty debate committee. I knew what it takes to put up a formidable team. I had the experience. We got Lagos state, the venue of the championship. We beat Oyo, Anambra, and Edo, and then they brought Katsina. We also beat them. In the semi-final, we met Lagos, and we beat them again. We met Katsina again at the final, and we beat them again. And we came back with the trophy. Today, Kwara state is Team Nigeria and will represent the country in the World Debate Championship that is coming up in August in the Netherlands. We have started their preparations in earnest. We have even taken the governor to the students in their camps, and he was impressed. Also, in Mathematics, we enrolled our students in a competition put together by the National Mathematical Center in conjunction with UBEC. From state level to zonal level, our won Aisha from Ilorin East came first. We came sixth in Nigeria. We came first in North Central and Sixth in Nigeria. You were once quoted while speaking on the learning outcome initiative, Kwara LEARN; the team in charge made some saddening discoveries about the state of education when they came. Can you tell us? What we met on the ground was sad. Before the commencement of the project, we did sampling. We did purposive random

sampling; that is, we took two rural and two urban areas for study. Then we did random sampling, which is that we picked, say, from the rural, we picked two. We took two from the urban, mindful of the political fallout that may come out of it. What I mean is that if you pick all of these from one senatorial zone, others may not like it. From Kwara North, we picked Baruten. From Kwara South, we picked Offa; Kwara Central, we picked Ilorin East and Ilorin West. In education, there is what we call formative evaluation, that is, before you start, what are those conditions you met. You do this so that when you do your summative evaluation, you will know the values you have added. In doing this, we dug down in all 365 pilot schools, evaluating what their situations were. In Baruten, we found that in some schools, you can’t find more than two or three teachers. In some locations, because of the terrain, once rain falls, the schools will be closed. The teacher will not go to school, and so the pupils. In some locations where there are big markets, there is no school for pupils. We also found out that some schools had to augment teaching staff through efforts of the community and PTA teachers. We summed up all these challenges and sought a way out. So, we summed up all these challenges and fashioned out a way of solving them. What did you deploy to solve the problem? We knew that Kwara LEARN is a digital initiative. We knew we had to retrain the teachers on how to use ICT based tools to effect teaching. Some can use gadgets other than their cell phones; some done even know how to use phones other than to make calls. We devised a means of bringing them up to par on how to use it. In Kwara LEARN, once we deploy a lesson for classes, it goes round. And you can’t, as the teacher refuses to teach it. Do you mean lessons will be deployed centrally? Yes, lessons are deployed centrally now. And teachers are bound to be in classes. If you are not in class, the system will prompt us that the teacher is not there. If the teacher is in school but not in class, we have a way of also detecting it. We expect that some of them may soon start to complain. Previous, the teachers just came to school and sat under the trees, marked the register and went home by 12:30. This will be the first of its kind in the whole of the north. The first in Nigeria was Bridge Academy, Lagos. No institution can be compared to Bridge Academy in the country. As a secondary school, its standard is even higher than some of these state-owned universities. This is because the student there are prepared for Cambridge exams, and they pass excellently. Edo state is the first to copy the initiative. They named it EDO BEST. Lagos saw the digital initiative and keyed into it. Lagos started theirs last year and called it Eko Excel. We had the confidence to embark on this because Kwara used to be the best in the whole of the northern region. Every other Northern State copied from Kwara. We have to return Kwara to that status. Thank God for Governor AbdulRazak.

Lagos Govt, Lekki Adult Literacy Vocational Centre Partner on Literacy Oluchi Chibuzor

The Lagos government and the Lekki Adult Literacy Vocational Centre (LALVC) have emphasised readiness to continue reducing the gaps in learning within the neighbourhood to kick out illiteracy from the state. In the last 18 months, the centre has expanded its pool

of volunteers from three to 17 and has stratified classes into three from a single class of 20 students to three classes. However, organisers have urged citizens and those disadvantaged within the neighbourhood to leverage their facilities to be useful in society and boost their income level. Speaking at a conference held

at the vocation headquarters ahead of the forthcoming matriculation scheduled to hold on June 11, 2022, Pastor Tunde Netufo said education remains the only fast track to the socio-economic status of the disadvantaged in society. On what the Lagos government is bringing to the table, the coordinator and trustee, LALVC, Joe Mbulu, said they

received some resources every month. “They give us some money every month, but because we do not use the resources for ourselves, we deploy it to what we spend for the centre. All the notebooks come from Lagos state, pencils, readers; seriously credible support. So there is nothing like they are asking us for anything, they

are giving to us, this is the best support I have gotten from the government in my life,” stated Mbulu. “Our objective is to eradicate poverty, and Lagos state has been a very credible partner. However, our learners do not pay anything to attend the classes. We have seen the extent of the influx of people into the Lekki neighbourhood, so it is important that we teach

them how to read and write.” He added that the centre started with about 20 people. “As people came in, we discovered that we have to teach beyond just reading and writing. Addressing the foundation of people is where adult literacy starts because when people believe that there is a future for them, you can teach them anything,” he added.

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

CITYSTRINGS

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

Mustapha Leads the Pack in National Productivity Merit Award Tajudeen Karem

he journey of a thousand miles begins with the first step. Likewise, nation building requires the little, individual contributions of citizens, big and small. This was aptly emphasised by President Muhammadu Buhari at the celebration of the 19th National Productivity Day and the conferment of the National Productivity Order of Merit Award on 47 individuals and organisations in Abuja, last week. In the words of President Buhari, the annual National Merit Award was designed “to identify, recognize and reward productive individuals and organisations in both the public and private sectors, for high productivity, hard work and excellence.” The symbolism of the event, said the President, “underscores the vital and cardinal role productivity has assumed globally.” In essence, the quest for good governance rests with highly productive citizens committed to rapid economic growth, social progress and improved standards of living. The Minister of Labour and Employment, Dr. Chris Ngige said the observance of the National Productivity Day and Conferment of the National Productivity Order of Merit Award, NPOM, is an avenue for the Federal Government to recognise higher productivity and excellence in service of individuals and organisations and their contributions to the growth and development of the Nigerian economy. Ngige said that given the cardinal role of productivity in the development of any nation, it was imperative that the citizenry be consistently reminded of the need for developing a productive mindset that will ensure the growth of all the sectors of the economy. The award, among other things, aims at stimulating productivity consciousness, reward innovation, creativity and hard work among Nigerians. “It is also to recognise and reward best practices in productivity, quality and innovation,” he disclosed. The Minister described productivity as the most important determinant of social economic growth, wealth creation, employment generation and overall improved standard of living. He said the present administration focuses on enhancing higher productivity as no nation would be self-reliant and competitive in the international market without productivity improvement in all sectors. The awards, delayed by the breakout of Covid-19, were conferred on forty-seven individuals and organizations in both the public and private sectors by President Buhari for their high productivity, hard work and excellence. Top on the pack are the National Chairman of the All Progressives Congress, Senator Abdullahi Adamu, recognized for his commitment to farming and national food security and the Secretary to the Government of the Federation, Boss Mustapha, honoured for his diligence and commitment to service. He served as the Chairman, Presidential Task Force of COVID-19. Others are the immediate past Director General, Nigeria Centre for Disease Control, Dr Chike Ihekweazu; Lagos State Commissioner for Health, Dr. Akin Abayomi; industrialist, Alhaji Abdulsamad Rabiu and businessman, Dr. Mike Adenuga. Posthumous awards were conferred on Dr. Ameyo Stella Adadevoh who died after an encounter with Ebola virus as well as Mr. Babatunde Lawal who until his death was the Permanent Secretary of the Cabinet Affairs Office at the Office of the Secretary to the Government of the Federation. A few corporate organisations were recognised including the National Information Technology Development Agency, Erisco Foods Limited, Financial Derivatives Limited, Crown Flour Mills and Tummy Tummy Foods Industry Limited. Mustapha has described the special award for COVID-19 conferred on him as an additional moral burden to do more for the nation and government.

Boss Mustapha with President Buhari and Minister of Labour and Employment, Dr Chris Ngige at the award Shortly after the handshake with the President, he said: “I will dedicate this award to all the people that were involved in the national response to the pandemic, especially my colleagues on the Presidential Task Force on COVID-19. It was one awesome team, including the media team, men and women who worked assiduously in very difficult, hard and dangerous times. “We were dealing with a virus that was unknown to ensure that the lives and livelihoods of Nigerians were protected. And in the process, we were able to deal with the adverse effects of COVID-19 and its impact on the economy. “The economic sustainability plan enabled us to exit the recession in a very, very quick time, addressing the changes in governance. Because COVID-19 came with its difficult ways of oppression, we had to really do a switch to virtual meetings, virtual way of running government activities, with very little face to face contact.” In appreciation of the selfless service of the SGF, Presidential Buhari has severally paid glowing tributes to his commitment and leadership qualities. When he was barely two years in office, Mustapha received a commendation from the President: “I am writing to personally recognise your competence and commend the way you organised and led the Ministers' Retreat. The benefits derived from the Committee's discussions were enormous, and the added value to the Ministers' and Permanent Secretaries' experiences are very much appreciated.” On the occasion of his 64th birthday in 2020, President Buhari joined the ruling APC and the Federal Executive

Council to celebrate Mustapha as “the legal luminary, party stalwart and Chairman of the Presidential Task Force on COVID-19, whose visionary and inclusive leadership style continues to strengthen the governing party and the administration, with remarkable results." The President affirmed: "Mustapha has provided strong and commendable leadership as a rallying point for the Federal Executive Council and demonstrated high-level patriotism by accepting the demanding position of chairing the Presidential Task Force on COVID-19.” On September 2, 2021 the President wrote: “Since his appointment as SGF, my respect and admiration for Mustapha have grown ever stronger and deeper because of the passion and energy with which he does his job. Mr. Mustapha is a remarkably competent person who enjoys the confidence and support of his colleagues.” The President also commended him for “playing a big part in the nation’s unparalleled success in combating the Covid-19 pandemic even as he urged “other public servants to borrow a leaf from Boss Mustapha who does his job with passion and amazing talent for details.” On Thursday, September 9, 2021, at the LEADERSHIP ANNUAL CONFERENCE AND AWARDS, the SGF was recognized as the PUBLIC SERVICE PERSON OF THE YEAR 2020, while the PRESIDENTIAL TASK FORCE ON COVID-19 was recognized as the PUBLIC AGENCY OF THE YEAR. Another distinguished awardee is the Director General, West African Health Organization, WAHO, Prof. Stanley Okolo, who in 2018, left his role to answer President Buhari ’s call

"The award, among other things, aims at stimulating productivity consciousness, reward innovation, creativity and hard work among Nigerians. It is also to recognise and reward best practices in productivity, quality and innovation"

to national service when he was appointed to head WAHO as one of Nigeria’s statutory appointees to ECOWAS. Okolo is a multiple award-winning clinical leader and has in his current assignment led WAHO with intelligence, integrity and international acclaim. He has championed several financial governance initiatives and positioned WAHO globally as West Africa’s regional health institution, with prestigious roles as one of the advisers of the London 2021 G7 summit and a member of the Commonwealth Advisory Committee on Health. With President Buhari as the ECOWAS COVID-19 Champion, WAHO has led the hugely successful West African regional response to the COVID-19 pandemic, providing critically needed medical materials, diagnostic tests, personal protection equipment, training, risk communication resources and financial assistance to ECOWAS member states. Okolo spearheaded all the initiatives, supported by Nigeria’s Government which provided logistics and successfully negotiated the ECOWAS harmonised agreements on regional travel during the pandemic and is currently driving the agenda for local production of vaccines in the region. As emphasized by Dr. Ngige, measuring national productivity is imperative to remind the citizenry of the need for developing a productive mindset that will ensure rapid and organised growth of all sectors of the economy in realization of the overall development of the nation. He said that the present administration had successfully charted a path for economic growth and development for Nigeria with a new development plan. “The Medium Term National Development Plan (MTNDP 2021-2025) succeeded the Economic Recovery and Growth Plan with focus on economic diversification, investment in infrastructure, security and good governance, educated and healthy population”, Ngige said while recalling efforts at poverty alleviation, economic and social development across the states. “It is in realization of this that the Federal Government through the National Policy on Productivity declared that a day shall be observed as the National Productivity Day throughout the country every year. “The decision of the government to observe NPD every year was predicated on the need to stimulate productivity consciousness and reward innovation, productivity and hard work among Nigerians”, he explained.

T H I S D AY ˾ WEDNESDAY MAY 25, 2022

SECURITY

Wing Commander Musa Isah Salmanu: Offering Better Representation for Makera People For 22 years, Wing Commander Musa Isah Salmanu gave his life in pursuit of service to humanity on the platform of the Nigerian Air Force. Now on the civilian side, that desire to serve is yet to wane, reason why he is gunning to represent Makera Constituency in Kaduna House of Assembly. Spurred to offer quality representation, the development, International Peace and Security Expert with over 25 years of practical and theoretical experience in education, international peace and security, conflict resolution, peace building and development has extensive experience working with international, regional and national level organisations in Nigeria and beyond. Chiemelie Ezeobi writes that though his quest is by no means easy, given the challenges faced by the state, he remains undaunted as he propagates SEED- Secure, Educate, Empower and Develop as his key derivates

Transition from oﬃcer to civilian change maker

hen Wing Commander Musa Isah Salmanu (rtd) joined the Nigerian Armed Forces, it was to serve his nation and this he did diligently and without blemish for 22 years. Given his nature to serve, his cross over to the civilian fold did not halt his desire to serve, rather, it spurred it. He wants to give the Makera Constituency better representation come 2023 in the Kaduna State House of Assembly. A development, International Peace and Security Expert (MSc Political Science; MA Conflict, Security and Development; BSc Political Science & Defence Studies) with over 25 years practical and theoretical experience in education, international peace and security, conflict resolution, peace building and development; he has extensive experience working with international, regional and national level organisations in Nigeria, the Democratic Republic of Congo and Kenya where he served in the Nigerian Air Force, UN peacekeeping operations and ECOWAS amongst others. He has been engaged in designing and delivery of educational and training programs on Protection of Civilians in conflict to various audiences since 2018. A veteran of the Nigerian military, he has experience working with donor organisations, youth programs, national level NGO leadership and liaison experience with governments at all levels. He volunteers with Teach for Nigeria (an affiliate of Teach for All) and the Kaduna State Scholarship Board on addressing challenges of education in underserved communities, early Childhood Education, school enrolment, retention and encouraging girl child education in Northern Nigeria. Key Derivatives For Salmanu, his key derivatives are hinged on four-point agenda known as SEED. Giving a breakdown of this, he said S stands for Secure (securing our communities through inclusive approaches that encourage collective vigilance); E stands for Educate (educating the children through enacting policies that encourage girl child education and extending priority to underserved communities); the second E stands for Empower (empowering women and Youth to engage in productive activities that improve livelihoods and prosperity); and finally, Develop (developing the required facilities and enabling environment for our youth to gain the skills required to excel in a competitive world". Calling on the nation, and indeed the people of Makera to "Plant a SEED today" by electing him to represent them, he said he will not just talk ideas, but live them out. "I am someone that believes in build-

ing from ground to up. In pursuit of service to humanity, I have served the nation for 22 years of my life. Thus, I presented myself to you for selfless service, progress, success, unity and building the Kaduna of our Dreams," he posited. Professional Highlights Professionally, Salmanu is an international expert on Humanitarian Law and Protection of Civilians in Conflict. Between October 2018 to November 2021, he was acting Country Director, Nigeria/Senior Military Advisor, Africa Region, Center for Civilians in Conflict; and October 2017 to October 2018, he was the Humanitarian Development Officer, Irish Aid, Embassy of Ireland; between 2016 and 2017, he was the Directing Staff/Member of Faculty, Armed Forces Command and Staff College,;; between 2012-14 & 2015 – 2016, he was the Press Officer to Chief of the Air Staff, Nigerian Air Force. Also, in 2015, he was Assistant Adjutant, Nigerian Defence Academy; between 2010-2012, he was expert on Mission, United Nations Organisation Stabilisation Mission in the Democratic Republic of Congo (MONUSCO); and between 2009 and 2010, he was at African Leadership Center Peace and Security Fellow, Economic Community of West African States (ECOWAS). But prior to all these, he held several command and staff appointments in the Nigerian Air Force between 2001- 2009. Educational Qualiﬁcation Academically, he has a Master of Military Operational Art and Science – Air University, United States Air Force, Montgomery, Alabama, USA in 2015; a Master of Arts, Conflict Security and Development - King’s College London (Pass with Merit) in 2010; a Masters of Science, Political Science - Ahmadu Bello University Zaria in 2009; a Post Graduate Diploma in Advertising and Public Relations - International Institute of Journalism in 2008; and BSc Political

Science and Defence Studies - Nigerian Defence Academy (Second Class Upper) in 2001. Professional Qualiﬁcations So far, in his kitty, Salmanu has a Certificate, Humanitarian Response to Conflict and Disaster, Harvard University, Boston, USA; Certificate, NATO/UN Protection of Civilians Course, Finnish Defence Forces International Center, Finland; Certificate in Public Policy Analysis, Pardee RAND Graduate School, Santa Monica, California, USA; and Strategic Communication Course, Partnership for Peace (PfP) Training Center, Ankara-Turkey. Others include Crisis Communication Course, British Military Advisory Team, Abuja- Nigeria; Deputy Spokesman Training, Royal Air Force, Joint Information Activities Group, United Kingdom; Command and Staff Course, United States Air Force Command and Staff College, Maxwell Air Force Base, Alabama, USA; Leadership for Sustainability, Institute for Sustainability, Development and Peace, United Nations University, Tokyo Japan. He was also at the International Peace and Security, Institute for Sustainability, Development and Peace, United Nations University, Japan; United Nations Systems and Global Challenges, Institute for Sustainability, Development and Peace, United Nations University, Tokyo Japan; Advanced Studies of Non-Violent Conflict, Fletcher Summer Institute, Tufts University, Boston, Massachusetts, USA; Peace Operations Planning Course, International Peace Support Training Center, Kenya; Certificate of completion, French Level 1, King’s College London; Development and Human Rights, Center for Human Rights, University of Pretoria, South Africa; and Session 443: Center for Human Rights, University of Pretoria, South Africa; and Session 443: “An International Rule of Law: Balancing Security, Democracy, and Human Rights in an Age of Terrorism”, Salzburg Global Seminar, Austria.

"Prodigious intellect, change maker, grass root community builder, ﬁrst rate military brain, an internationally recognised and respected former military oﬃcer and humanitarian worker and trainer, you name it, Musa has done it"

Accomplishments Among his many accomplishments, Salmanu is an Associate Member, Nigerian Institute of Management; Fellow, Eisenhower Fellowships, PA, USA; Member, Association of Industrial Security International (ASIS); United Nations University International Courses, UN University Tokyo, Japan; United Nations Medal; Associate Member, Nigerian Institute of Public Relations; International Center for the Study of Non-Violent Conflict (Fletcher Summer Institute); and AY09 Conflict, Security and Development Studentship and Mentoring Program, King’s College, London. Stamp of Approval Like many others who have worked with him in different capacities over the years, his foray into politics was met with cheer and joy given the expected dividends he is set to bring to the Makera people and the entire state as a whole. In fact, a post by his mentor and former colleague, Group Captain Sadeeq Shehu, read thus: "I endorse!!! New kids on the block. As someone who knows, has worked with and mentored him, I have no hesitation whatsoever in recommending Wing Commander Musa Isa Salmanu Rtd to the good people’s of Makera Kaduna. "Prodigious intellect, change maker, grass root community builder, first rate military brain, an internationally recognised and respected former military officer and humanitarian worker and trainer, you name it, Musa has done it. "A multiple international award winner recognised across the Atlantic. Musa is a King’s College London African Leadership Centre fellow- a programme designed to building a new community of leaders generating cutting edge knowledge in peace, security and development in Africa. "He is also an Eisenhower Fellow a program which identifies, empowers and connects innovative leaders through a transformative fellowship experience and lifelong engagement in a global network of dynamic change agents committed to creating a world more peaceful, prosperous and just. "With his accomplishments Musa can gun for any office in the land but when I asked why State House of Assembly why not higher? His answer was a matter of factly : “No sir I want to start from the grassroots and move upwards. For me the journey into politics and community service is not a sprint but a marathon”. I love that ! "On a final note, and without meaning to embarrass Musa , I will be a little indiscrete to say Musa is a much sought after international consultant since leaving the military, he is taking a massive massive pay cut for this foray into politics....that’s how much Musa wants to serve. Makera people take him!!!”

T H I S D AY ˾ ˜ MAY 25, 2022

BUSINESS/MONEYGUIDE

U.S. Consulate Promotes Entrepreneurship, Supports 30 Emerging Fashion Designers in Niger Delta Eromosele Abiodun As part of its commitment to bolster sustainable economic growth in Nigeria, the U.S. government has sustained its supports for a variety of programs to encourage innovation and entrepreneurship across the country. Recently, the U.S. Consulate General launched the third cohort of the Field of Skills and Dreams VTE Academy’s Fashion Entrepreneurship Program for 30 emerging fashion designers in the Niger Delta region. Delivering remarks at the opening ceremony of the workshop, which was held at the American Corner in Port Harcourt, U.S. Consulate Deputy Public Affairs Officer Jennifer Foltz highlighted the role of entrepreneurship as the key driver of sustainable economic growth.

Foltz explained that the goal of the U.S. Consulate-supported capacity building workshop was to provide participants with the requisite business management skills to start, scale, and sustain viable fashion businesses. “Fashion is a multi-billion-dollar industry and a huge contributor to the global economy, creating jobs and economic prosperity. Nigeria’s unique and innovative fashion designs are making waves in the United States and our goal with this fashion entrepreneurship workshop is to provide the participants with the knowledge, networks, mentors, and access they need to launch and scale successful fashion businesses, ”Foltz said. Program implementing partner and CEO of Field of Skills and Dreams VTE Academy, Omowale Ogunrinde, encouraged the

participants to direct their passion, imagination, skills, and ingenuity toward making a mark on the Nigerian fashion industry. “Succeeding in the fashion industry takes a lot more than passion and creativity. You have to be able to think like an entrepreneur. Through the support of the U.S. Consulate, we we are empowering emerging fashion designers to not only thrive in Nigeria’s fashion industry but also to prepare for the global fashion marketplace,” Ogunrinde, an alumna of the U.S. government-sponsored International Visitors Leadership Program, said. One of the participants, Ruth Inyang, expressed appreciation for the opportunity to advance her theoretical knowledge in fashion design, branding, and small business management skills.

L-R; Non-Executive Director, Berger Paints Nigeria Plc, Raj Mangtani, Non - Executive Director, Ogechi Iheanacho, Ag. Managing Director/CEO, Adeyemi Adetomiwa, Chairman, Abi Ayida, Company Secretary, Ayokunle Ayoko and Non- Executive Director, Kunle Olowokande during the 62nd Annual General Meeting (AGM) of Berger Paints held in Lagos... recently

MARKET INDICATORS

Allianz Signs Joint Venture With Sanlam Ebere Nwoji Allianz has announced a joint venture partnership with African financial services firm Sanlam. Allianz with the venture will operate in 29 countries across the globe The joint venture will house the business units of both Sanlam and Allianz in 29 African countries where one or both companies have a presence. According to the two firms, the joint venture will create the largest financial services company on the African continent. According to them, Namibia will be included at a later stage and South Africa is excluded

from the agreement. The entity is expected to have a combined total group equity value (GEV) in excess of 33 billion South African rand (approximately 2 billion euros). Speaking, the CEO of Sanlam Group, Paul Haganratty said, “In line with Sanlam’s stated ambition to be a leading PanAfrican financial services group, the proposed joint venture will enable us to take a significant step towards realising that ambition. It will also strengthen our leadership position in multiple key markets that are core to our Africa strategy, building quality and scale where it matters. We are delighted to have Allianz

as partners and believe their expertise and financial strength will add tremendous value to our businesses.” The chairmanship of the joint venture partnership will rotate every two years between Sanlam and Allianz while the CEO of the entity will be named in due course. He said the agreement was subject to certain conditions precedent, including but not limited to the receipt of required approvals from competition authorities, financial/insurance regulatory authorities and any customary conditions that Sanlam and/or Allianz would be required to fulfill for each jurisdiction.

Adegbite Lauds NMCO for Emerging FG Best Digital Innovation Agency Kasim Sumaina ÓØ ÌßÔË The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite has commended the Nigerian Mining Cadastre Office (NMCO), for emerging the best “Digital Innovation in the federal government” 5th Nigeria Internet Registration Association Award category for the year 2022. Adegbite, while receiving the award, presented to him by the Director General, NMCO, Engr. Obadiah Simon Nkom in Abuja, said that the feat meant that the agency must not fail to keep the good work as all eyes are now on it. NIRA, a Non- governmental body established by the order of the President of Federal Republic of Nigeria to manage the

Nigeria’s country code, presented the award to the best portal of the federal government with excellent user experience which promote innovation and local content development with the .ng domain name. According to him, “I virtually congratulated him (DG) before the announcement of the winner because, to have been nominated by the public and assessed by the Award Jury as fulfilling the criteria for the category, competed with other nominees namely; Federal Inland Revenue Service (FIRS); Nigeria Communications Commission (NCC); Federal Road Safety Commission ( FRSC); Corporate Affairs Commission (CAC) and the National Pension Commission

(PENCOM) and emerged winner with the highest number of votes in favour of the agency, we must give kudos to where it’s due. “NMCO wouldn’t have been where it is today if not for the adequate funding by the administration of President Muhammadu Buhari and these agencies needs continuous funding and the president has been there for us but, like Oliver Twist, ‘we asked for more’, because solid mineral sector is Nigeria next destination.” Adegbite further said: “ The NMCO has come a long way from the days of analogue business transactions to the Digitalise (online) processes. So, you must not fail as all eyes are now on you with this award.”

Buhari Appoints Gov Sule Digital Economy/E-government Member Igbawase Ukumba ÓØ ËʨË President Muhammadu Buhari has approved the appointment of Governor Abdullahi Sule as a member of the Presidential Council on Digital Economy and E-government. The Chief Press Secretary to Governor Sule, Ibrahim Addra, disclosed this in a statement he issued to journalists in Lafia. Accordingly, the statement

continued that notice of the governor’s appointment was contained in a letter signed by the Minister of Communication and Digital Economy, Isa Ali Ibrahim Pantami. According to the statement, “The letter adds that the constitution of the Presidential Council is in an effort to implement the National Digital Economy Policy (NDEPS) and the

Nigerian E-government Master Plan (NEGMP). “The Minister of Communication notes that Nasarawa State is critical to the success of Nigeria’s Digital Economy Agenda.” The statement concluded that Governor Sule and other members of the council were to be inaugurated by the chairman of the council, President Muhammadu Buhari, on a date to be communicated.

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 MONDAY MAY 23, 2022

The price of OPEC basket of thirteen crudes stood at $114.79 a barrel on Friday, compared with $112.04 the previous day, according to OPEC Secretariat calculations. 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

Yuguda: SEC to Resolve Issues of Unclaimed Dividend with Identity Management Kayode Tokede The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has stated that the identity management system being developed by stakeholders would tackle problem of unclaimed dividend in the capital market. He disclosed further that the initiative is expected to

create room for scalability as technology evolves. Yuguda, when he received members of the Committee on identity management for the Capital Market in Abuja at the weekend, described identity theft as a fraudulent practice of using another person’s name and personal information to obtain shares, credit and loans, among others.

P R I C E S MAIN BOARD

F O R DEALS

He said the Commission decided to engage relevant stakeholders in a bid to resolve issues of identity management to tackle the problem of unclaimed dividends. According to him, the problem of unclaimed dividends had to do with identity management, hence the Commission is currently engaging stakeholders to

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

QUANTITY TRADED

VALUE TRADED ( N )

harmonize various databases of investors and facilitate data accuracy in the market as well as increasing investors’ education to stem the trend. The SEC DG who expressed satisfaction with the work of the Committee so far, added that stakeholder engagements would commence in earnest to ensure success of the project. While thanking the members of the Committee for lending

T R A D E D MAIN BOARD

A S

their support and resources to the Project, the SEC DG also expressed confidence in the success of the Project that it would build a greater Nigeria and impact unborn generations. In his remarks, the Chairman of the Committee, Mr. Aigboje Aig-Imoukhuede commended the Commission on the recent release of Rules on Issuance, Offering Platforms and Custody of Digital Assets

O F

saying that it was a step in the right direction. Aig-Imoukhuede said the Committee’s work had exposed the need for standardization of systems within the Nigerian Capital Market that would support Open Finance which the SEC can drive, adding that the SEC could leverage on the Committee to develop the framework for the Nigerian capital market.

2 4 / 0 5 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, MAY 25, 2022 • T H I S D AY

Wednesday, May 25, 2022

Thisday Afrinvest40 40Index Indexfell Declined 1.2% Thisday Afrinvest by 14bps The ThisdayAfrinvest Afrinvest index declined by to 1.2% to The Thisday 40 40 Index declined by 14bps settle

THISDAY AFRINVEST 40 INDEX

2,347.67 index points the back ofonsell pressure on at 1,674.89 points due toonsellͲpressure ZENITH (Ͳ0.6%), MTNN (Ͳ2.1%), andThese DANGCEM (Ͳ1.0%). WAPCO(Ͳ7.6%), (Ͳ1.3%), GTCO and UBA (Ͳ0.7%). stocks cumula-

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Cumulatively, these stocks account for 17.4% of the intively account for 13.2%. dex.

Current Price

Ticker

ASI up 11bps as DANGCEM Gains 3.3%

THISDAY AFRINVEST 40

ProfitͲtaking Deepens... ASI down 1.8%

Previous day,our expectations, price uptickthe market in HONYFLOUR In tandem with maintained (+9.8%), DANGCEM (+3.3%), and FBNH (+0.7%) bol-

a bearish performance today due to profitͲtaking in stered positive performance on the local bourse as the AllͲ

MTNN (Ͳ7.6%), DANGCEM (Ͳ1.0%), and GUINNESS (Ͳ Share

index

rose

2347.67

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

10.0%) as the NGXͲASI plunged 1.8% to 51,949.64 points

1,470.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC 5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

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

-1.18% 0.0%

ROE

ROA

P/E

26.6% 134.8% 40.3%

53.9%

5.6x

53.9%

18.2%

Dividend Earnings Yield Yield

P/BV

0.8x

6.1%

6.2%

16.4%

1.4%

230.00

-7.6%

8.2%

16.8%

105.6%

13.9%

14.5x

17.9x

5.4%

74.25

0.0%

6.5%

10.7%

19.1%

11.2%

35.7x

6.7x

3.9%

2.8%

23.00

-2.1%

4.9%

-11.5%

19.8%

3.2%

3.8x

0.8x

12.9%

26.4% 33.1%

6.9%

24.00

-0.2%

4.8%

-4.6%

20.6%

2.6%

3.0x

0.6x

12.9%

297.00

-1.0%

4.3%

15.6%

37.7%

16.4%

13.4x

4.9x

6.7%

7.4%

1,401.40

0.0%

2.7%

-10.0%

112.8%

16.1%

24.4x

28.3x

3.6%

4.1% 14.7%

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

11.55

-3.3%

2.9%

1.3%

8.4%

0.8%

6.8x

0.6x

3.9%

28.05

-1.4%

3.3%

17.1%

15.5%

11.1%

7.6x

1.1x

7.0%

13.2%

9.95

0.0%

2.5%

7.0%

17.9%

1.6%

2.2x

0.3x

7.0%

46.0%

7.95

0.0%

1.8%

-1.2%

15.6%

1.4%

2.3x

0.3x

12.6%

43.9%

capitalisation lost ₦518.5bn to ₦28.0tn. Trading activity

11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC 13 Nigerian Brew eries PLC

34.50

0.3%

1.3%

-4.2%

15.6%

2.1%

7.3x

1.2x

8.7%

13.7%

77.00

0.0%

2.1%

54.0%

10.5%

3.9%

33.2x

3.3x

2.3%

3.0%

surged as volume and value traded rose 173.5% and

14 SEPLAT Energy PLC 15 Ecobank Transnational Inc

1,300.00

0.0%

2.7%

100.0%

7.5%

3.6%

13.4x

1.0x

3.2%

7.5%

12.00

0.0%

1.6%

37.9%

18.4%

1.0%

2.6x

0.5x

5.5%

38.9%

11bps to 39,550.36 points. Consequently, YTD loss im-

– the steepest decline since March 2021. Accordingly, proved to Ͳ1.8% while market capitalisation rose by

YTD return fell to 21.6% (previously 23.9%) while market ₦23.4bn to ₦20.6tn. Trading activity was mixed as volume

traded declined by 21.6% to 110.8m units while value

traded rose by 88.5% to ₦3.1bn. The most traded stocks

16 International Brew eries PLC 17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC

149.8% to 720.1m units and ₦8.9bn respectively.

by volume were TRANSCORP (11.9m units), FBNH (11.1m units), and OANDO (7.3m units) while NESTLE (₦2.2bn),

19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

Bearish Sector Performance

DANGCEM (₦145.0m), and GTCO (₦134.8m) led by value.

Performance of the sectors within our purview was

bearish as all indices lost. The AFRͲICT and Consumer Bearishindices Sector Performance down 3.6% and 1.2% reGoods lost the most, Across sectors under coverage, performance was spectively due to priceour decline in MTNN (Ͳ7.6%), GUINbearish as 4 indices lost, 1 index gained while the AFRͲICT NESS (Ͳ10.0%), and INTBREW (Ͳ2.4%). Trailing, the Insurindex and remained flat. Topping laggards Consumance Industrial Goods the indices lostare the 1.1% and 0.6% er Goods and Insurance indices, down 4.6% and accordingly, owing to losses in MANSARD (Ͳ9.7%), 1.2% respectively on DANGCEM the back of profitͲtaking NESTLE (Ͳ(Ͳ MBENEFIT (Ͳ9.7%), (Ͳ1.0%), andinWAPCO 9.1%),

UNILEVER

(Ͳ3.5%),

LINKASSURE

(Ͳ6.4%),

22 FCMB Group Plc 23 United Capital PLC 24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria 26 Presco PLC

0.3% sequentially. er,

1.8%

driven

price

apprecia-

tion in DANGCEM (+3.3%).

Investor sentiment, as measured by market breadth, weakened to Ͳ0.38x from Ͳ0.03x as 17 stocks gained, 39 Investor Sentiment lost while 58 closedStrengthens flat. Tomorrow, we expect losses to Investors as measured by market breadth trim due tosentiment, bargain hunting opportunities. (advance/decline ratio), strengthened, settling at 1.6x

Monetary Policy Update trading session as 24 stocks from 1.3x recorded in the last In line withwhile our expectations, the Monetary PolicyMAYComadvanced 15 stocks declined. MRS (+9.9%),

STOCK (Ͳ4.8%) led losers. Previoustoday, expect rameters constant. The decision raiseweMPR, for the the market remain as earnings season first timesentiment since Julyto2016, wasmixed, necessitated by the need gradually winds up.inflation to curb spiralling in domestic market, contain

liquidity flux from preͲelection spending, and match up with the hawkish tilt by global systemic banks.

25.5%

11.2x

4.7x

37.00

-0.5%

1.1%

30.5%

15.9%

4.5%

5.7x

0.9x

1.5x

-6.7% 4.0%

8.9% 17.7%

3.40

-0.9%

0.7%

33.3%

13.3%

1.2%

2.6x

0.3x

10.3%

2.04

-9.7%

0.4%

-12.1%

2.9%

0.9%

19.5x

0.6x

12.3%

5.1%

17.00

0.0%

0.4%

-2.3%

16.7%

6.6%

9.1x

1.5x

5.9%

11.0%

10.7%

1.1%

3.50

2.9%

0.5%

17.1%

13.50

-1.1%

0.4%

36.4%

88.20

-10.0%

0.7%

126.2%

1.21

-6.9%

0.3%

26.0%

17.8%

8.1%

13.1x

0.3x

5.9%

3.4x

11.1%

2.1x

0.5%

0.5x

1.7%

38.7%

7.6%

0.5%

105.0%

8.4x

4.2x

4.1%

11.9%

-2.7%

18.5%

5.7%

12.9x

2.3x

3.1%

7.7%

0.75

0.0%

0.2%

7.1%

21.1%

3.6%

30.4x

0.6x

2.7%

3.3%

29 TotalEnergies Marketing Nigeri 30 Custodian and Allied Insurance

234.50

0.0%

0.2%

5.7%

1.7x

8.0%

7.00

0.0%

0.2%

-11.4%

19.5%

5.5%

4.1x

0.8x

7.0%

24.3%

31 Vitafoam Nigeria PLC 32 Unilever Nigeria PLC

22.50

-5.1%

0.2%

0.0%

50.3%

19.0%

4.2x

2.1x

6.7%

23.9%

14.75

-1.3%

0.1%

1.7%

11.2%

6.9%

17.3x

1.3x

3.3%

5.8%

33 Julius Berger Nigeria PLC 34 Union Bank of Nigeria PLC

30.50

0.0%

0.2%

36.5%

18.1%

2.3%

6.8x

0.9x

8.5%

14.8%

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

6.35

-2.3%

0.1%

7.6%

6.1%

0.7%

10.0x

0.7x

10.0%

6.10

-0.8%

0.1%

38.0%

14.5%

2.6%

2.6x

0.4x

38.1%

3.39

-2.0%

0.0%

370.8%

15.6%

0.9%

12.5x

1.8x

7.1%

8.0%

4.00

-1.2%

0.1%

-11.1%

22.3%

12.9%

4.1x

0.8x

5.5%

24.2%

2.0x

0.3x

6.3%

50.3%

1.60

0.0%

0.1%

6.0%

9.9%

0.9%

62.50

0.0%

0.1%

0.0%

-17.7%

-4.1%

5.89

0.0%

9.5%

1.8x

-9.5%

1.0x

1.2%

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

T o p 10 G a in e r s

Vo lum e

P ric e C hg %

J A IZ B A N K

114.0

-6.7%

GT C O

12.9

-0.8%

9.9%

T R A N SC OR P

12.8

0.0%

1.35

9.8%

A C C ESSC OR P

11.7

1.0%

NP FM CRFB K

2.02

8.0%

Z EN IT H B A N K

8.6

-0.2%

M B EN EF IT

0.27

8.0%

UB A

8.2

0.6%

C H IP LC

0.64

6.7%

ST ER LN B A N K

6.7

2.6%

R OYA LEX

1.20

5.3%

P R ESC O

6.6

-10.0%

N IGER IN S

0.21

5.0%

M ULT IVER SE

5.4

0.0%

VER IT A SKA P

0.23

4.5%

F ID ELIT YB K

4.9

-1.7%

T ic k er

P ric e

P ric e C hg %

C ON OIL

34.25

10.0%

M RS

14.95

9.9%

M C N IC H OLS

2.34

A C A D EM Y

T ic k er

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

T o p 10 L o s e r s T ic k er P R ESC O GSP EC P LC N EIM ET H UA C N

T ic k er

Value

P ric e C hg %

-10.0%

P R ESC O

1185.2

-10.0%

M TNN

450.1

0.0%

1.59

-9.7%

GT C O

302.8

-0.8%

13.20

-8.3%

SEP LA T

273.0

0.0%

207.0

-0.2%

P ric e 180.00 3.07

P ric e C hg %

N EM

4.05

-7.7%

Z EN IT H B A N K

P R EST IGE

0.38

-7.3%

A C C ESSC OR P

115.7

1.0%

101.8

-6.7%

81.1

-0.3%

WA P IC

0.42

-6.7%

J A IZ B A N K

0.84

-6.7%

ST A N B IC

-3.8%

WA P C O

79.0

-1.2%

-3.7%

GUIN N ESS

69.6

0.0%

C OUR T VILLE LIVEST OC K

Afrinvest West Africa Limited

-3.4%

43.6%

0.2%

BAKER (MPC) (+9.8%), andCBN HONYFLOUR led gainers mittee of the today raised(+9.8%) the Monetary Poliwhile (Ͳ8.3%), to LASACO (Ͳ6.7%), LIVEcy RateABCTRANS (MPR) by 150bps 13.0% and heldand other pa-

-9.9%

51.4%

0.0%

Conversely, the Industrial Goods index was the lone gain-

Outlook

61.6%

51.4%

0.0%

ZENITH (Ͳ0.2%), ARDOVA (Ͳ6.0%), and OANDO (Ͳ0.8%) offs in OANDO (Ͳ0.8%), ZENITH (Ͳ0.2%), and GTCO (Ͳ0.2%).

61.6%

1.4%

12.85

37 NEM Insurance PLC 38 Sterling Bank PLC

ing indices fell by 0.2% and 2bps respectively due to sellͲ

1.5%

0.0%

180.00

1.4%). In a similar trend, sellͲpressure on UBN (Ͳ2.3%), pulled the Banking and Oil & Gas indices down 0.4% and

-2.4%

27 NASCON Allied Industries PLC 28 AIICO Insurance PLC

35 Oando PLC 36 Wema Bank PLC

and MANSARD (Ͳ2.2%). Similarly, the Oil & Gas and Bank-

8.00 215.00

0.50 1.55

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundi-

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu | dasimiyu@afrinvest.com

WEDNESDAY, MAY 25, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 23May-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 202.53 203.68 21.31% Afrinvest Plutus Fund 100.00 100.00 6.14% Nigeria International Debt Fund 320.48 320.48 4.92% Afrinvest Dollar Fund 105.47 106.62 6.90% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.10% AIICO Balanced Fund 3.74 3.74 4.66% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 4.34% Anchoria Equity Fund 155.38 157.17 11.59% Anchoria Fixed Income Fund 1.20 1.20 5.18% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 23.00 23.70 13.40% ARM Discovery Balanced Fund 517.83 533.44 14.78% ARM Ethical Fund 44.12 45.45 13.25% ARM Eurobond Fund ($) 1.06 1.06 -1.96% ARM Fixed Income Fund 1.04 1.04 2.47% ARM Money Market Fund 1.00 1.00 6.05% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.36 105.36 8.23% AVA GAM Fixed Income Dollar Naira 1,107.92 1,107.92 10.79% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.12 2.12 8.22% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.43 2.49 30.03% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 3.23% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 6.79% Paramount Equity Fund 20.83 21.21 19.43% Women's Investment Fund 156.23 158.13 10.01% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 5.75% Cordros Milestone Fund 138.23 139.07 10.72% Cordros Dollar Fund ($) 109.49 109.49 5.13% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 4.51% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.52% EDC Nigeria Fixed Income Fund 1,157.44 1,168.95 -0.68% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.42% Emerging Africa Bond Fund 1.04 1.04 7.75% Emerging Africa Balanced Diversity Fund 1.08 1.08 18.65% Emerging Africa Eurobond Fund 102.37 102.37 4.30% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1453.87 1453.87 10.45% FBN Balanced Fund 197.79 199.24 12.86% FBN Halal Fund 119.76 119.76 9.21% FBN Money Market Fund 100.00 100.00 5.84% FBN Dollar Fund (Retail) 123.82 123.82 5.16% FBN Nigeria Smart Beta Equity Fund 171.95 174.23 12.73% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 4.90% Legacy Debt Fund 3.97 3.97 -0.74% Legacy Equity Fund 2.01 2.05 15.42% Legacy USD Bond Fund 1.22 1.22 1.52% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,305.55 3,553.21 100.00

4,372.13 3,553.21 100.00

27.32% 6.24% 6.10%

FSDH Dollar Fund 1.10 1.10 3.72% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.92% Vantage Balanced Fund 3.14 3.20 16.67% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 140.32 140.32 2.40% Vantage Equity Income Fund (VEIF) - June Year End 1.36 1.39 14.01% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 4.16% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.56 1.59 10.38% Lotus Halal Fixed Income Fund 1,160.22 1,160.22 3.53% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 13.09 13.14 10.85% Meristem Money Market Fund 10.00 10.00 8.06% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.72 101.72 6.60% Norrenberger Money Market Fund (NMMF) 100.00 100.00 7.48% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.74 1.77 10.49% PACAM Fixed Income Fund 11.75 11.77 5.10% PACAM Money Market Fund 10.00 10.00 6.62% PACAM Equity Fund 1.59 1.61 11.77% PACAM EuroBond Fund 115.80 118.66 1.70% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 133.78 137.26 11.96% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.25% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,820.30 3,865.57 11.01% Stanbic IBTC Bond Fund 238.68 238.68 1.25% Stanbic IBTC Ethical Fund 1.55 1.58 20.38% Stanbic IBTC Guaranteed Investment Fund 319.91 319.91 2.10% Stanbic IBTC Iman Fund 285.62 289.94 17.99% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 13,042.36 13,228.58 17.42% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 1.86% Stanbic IBTC Shariah Fixed Income Fund 118.39 118.39 1.21% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.31 109.31 2.66% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.11 1.13 19.20% United Capital Balanced Fund 1.55 1.58 13.93% United Capital Wealth for Women Fund 1.25 1.27 15.05% United Capital Sukuk Fund 1.10 1.10 2.89% United Capital Fixed Income Fund 2.01 2.01 2.59% United Capital Eurobond Fund 124.85 124.85 2.06% United Capital Money Market Fund 1.00 1.00 5.88% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.33 14.47 8.67% Zenith ESG Impact Fund 16.50 16.69 12.96% Zenith Income Fund 22.61 22.61 2.66% Zenith Money Market Fund 1.00 1.00 5.65% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 4.26 4.36 6.17% Vetiva Consumer Goods Exchange Traded Fund 6.87 6.97 17.40% Vetiva Grifﬁn 30 Exchange Traded Fund 20.50 20.70 15.85% Vetiva Money Market Fund 1.00 1.00 5.32% Vetiva Industrial Goods Exchange Traded Fund 22.82 23.02 14.13% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 152.94 154.94 -3.04%

REITS NAV Per Share

Yield / T-Rtn

122.16 53.16

1.62% 0.82%

Bid Price

Offer Price

Yield / T-Rtn

16.02 154.29 121.50 17.20 16.50

16.12 158.06 124.14 17.20 16.50

14.46% 17.20% 17.24% 30.85% 15.41%

NAV Per Share

Yield / T-Rtn

107.55

12.10%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY MAY 25, 2022 • T H I S D AY

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

UGWUANYI FOR SENATE... R-L: Governor Ifeanyi Ugwuanyi of Enugu State; Returning Oﬃcer for Enugu East Senatorial District Primary Election, Tahill Ochi; Chairman, National Electoral Committee of the PDP for the conduct of Party's Senatorial District Primary Election, Vin Yandev Amabei; State Chairman of the PDP, Hon. Augustine Nnamani, and others, during the declaration of Ugwuanyi as winner of the Enugu North Senatorial District ticket of the PDP for the 2023 general elections, in Nsukka… yesterday

Governors Meet Today on Court Ruling against their Objection to LGs’ Financial Autonomy Chuks Okocha in Abuja The 36 governors in the country would meet today to deliberate on a Federal High Court ruling that dismissed a suit they had filed to challenge the constitutionality of regulations the Nigerian Financial Intelligence Unit (NFIU) had issued to guarantee financial autonomy for local governments. In a statement by the Head of Information, NGF, Abdulraque Bello Barkindo, he was quoted to have said: "The lingering issue of the local governments’ financial autonomy which became topical nationwide from yesterday (Monday) may form part of the Chairman’s brief which is regularly given at the beginning of each meeting to open the matter for discussion among governors." The meeting, which he said was expected to be a hybrid would commence from 2pm, but governors were expected to log in from 1 pm. A Federal High Court sitting in Abuja presided over by Hon. Justice Inyang Ekwo had Monday delivered a judgement in favour

of the Federal government and NFIU, on local government joint accounts nationwide. The NFIU had in June 2019 issued guidelines aimed at curbing crime vulnerabilities created by cash withdrawals from local government accounts by various state governments. The Nigerian Governors Forum had sued the federal government and the NFIU for interfering with state government powers to initiate transactions on local governments’ joint accounts citing provisions of the 1999 constitution. According to the Chief Media Adviser to the NFIU, Ahmed Dikko, the NFIU had issued a guideline on money laundering risk and vulnerabilities advising all banks not to honour transactions from joint accounts. He had said the NFIU directed the States/Local Governments Joint Accounts should be used only for receiving funds and subsequently transferring them to local government accounts only. The guidelines also reduced cash withdrawal from local government

accounts to N500,000 daily. Immediately after the guidelines came into place, most local governments across the country stopped facing challenges in payment of staff salaries.

While reacting to the judgement the Director/CEO of NFIU, Mr. Modibbo Tukur said it was good because the federal government was always ready to protect both states and local governments by

Seriki Adinoyi in Jos The Vice President and All Progressives Congress (APC) presidential aspirant, Prof. Yemi Osinbajo has met with national delegates and APC stakeholders in Plateau State where he promised a secured and ensure a prosperous Nigeria. “I am well prepared to be the Nigeria’s next president having been Vice President for almost eight years, I understands the challenges facing the Country and would ensure a safe and secure Nigeria for everyone,” he stated while briefing journalists after the meeting with APC delegates at the Victoria Gowon Hall, Government

House Rayfield Jos. Osinbajo said he would work in collaboration with Nigerians for the advancement of peace and development if elected President in 2023. He added: "We had a very robust and useful interactive session with the delegates. We had opportunity to share ideas about the economy, about security, health care, education and other sector of the economy." Osinbajo explained that he has a common ground with the delegates who have better understanding of the issues that concern development of Nigeria. He said: "We had a very happy

Baba-Ahmed withdraws from Kaduna governorship race Senate Deputy Minority Whip, Senator Danjuma La’ah, has lost the Peoples Democratic Party (PDP) ticket for Kaduna South senatorial seat.

In similar breath, one of the governorship aspirants of the PDP in the state, Senator Datti Baba-Ahmed, has pulled out of the race less than than 24 hours to the primary election. La’ah, who is the first person to

have served two terms since the creation of the senatorial zone, was defeated by Hon. Sunday Katung, a former member of the House of Representatives. Katung, who was a deputy

HAYATU-DEEN: 2023 PRESIDENTIAL ELECTION PDP’S TO LOSE about relationships. That investment has to happen. There is no reason why Mohammed Hayatu-Deen should be prevented from exercising his own democratic and human rights. That's my answer to that question.” Speaking on his chances at the PDP presidential primary this weekend, Hayatu-Deen said, “First of all, I don't go into anything without actually reflecting very carefully about it. Secondly, the reason why I went in is not because I want anything out of it personally for myself, my family or my friends. “I see this country standing on a brink, almost approaching a failed state. All the sounds and stress are there for who wants to see; the structural holes, the cracks are there for anybody to see. I don't want to

be a bystander watching what is going on, only for my conscience to say, if something terrible happens, what were you doing then? That you decided to stay in your private comfort and you refused to get into the murky waters of politics. “I don't want my children to hold me accountable down the road and say, ‘daddy, what were you doing?’ Or ordinary Nigerians to say, ‘we know this guy, he has so much to offer, he's sitting down, because he doesn't want any mud on his face.’ I think the time for courageous people in civil society space, in the private space has come. “There is no better time than now for us to enrich the pool of politicians in this country and get many men and women of

The CEO NFIU stressed that, “from this judgement and from today all transactions on Local Government funds will be disclosed to ICPC and EFCC 100% and will be reported continuously.”

I’m Most Prepared toTake over from Buhari, Says Osinbajo

2023: Senate Deputy Minority Whip Loses PDP Ticket John Shiklam in Kaduna

making funds available for their governance responsibility. He stressed further that funds could be decided on by local councils which could be channeled to improving local security.

quality and distinction, who are going to be there not because they are going to help themselves, not because they are going to help their friends and families, but because they believe they have something they can give.” The former banker added, “I have done my maths very carefully and I'm going in to win and my message has resonated very well with all of the delegates that I have actually visited. And it's a competitive race, I know there are many competitors there, but we have grand deals worked out and I'm confident that I will put up a very good showing at the primaries coming up this week.”

See full interview on Pages 50 - 52

governorship candidate of the PDP in 2019, scored 112 votes to defeat Laah who scored 74 votes. The results, which were announced in Kafanchan on Tuesday also showed that Hon. Garba Nicholas, a three term federal lawmaker, representing Jama’a/Sanga Federal Constituency, scored 52 votes while Samson Dikko and Hon. Adams Jagaba, also a three term former federal lawmaker, scored 21 and seven votes respectively. In Kaduna Central Senatorial District, Adamu Lawal, re-emerged the party’s flag bearer, scoring 99 votes to defeat his close opponent, Ibrahim Usman who got 84 votes. Lawal was the party’s candidate for the seat in 2019, but was defeated by the current occupant of the seat, Senator Uba Sani of the All Progressives Congress (APC), who is a governorship aspirant in the state. In Kaduna North Senatorial Zone, Khalid Mustapha, got 257 affirmation votes to pick the ticket, being a sole candidate in the zone. Continued online

engagement and I could see from the delegates that everyone was very happy." He said he would continue to invest in capacity building of the nation’s security forces and pledge to win the battle against banditry

if elected president of Nigeria. Governor of the State, Simon Lalong, who had promised to deliver all Plateau delegates' votes to Rotimi Amaechi was conspicuously absent when Osinbajo met with delegates in Jos.

CSOs Demand Shell's Immediate Restoration of Means of Livelihood for Polluted Communities in Niger Delta Oluchi Chibuzor A broad-based civil society organisations (CSOs) have called on Shell Petroleum Development Company (SPDC) major investors to vote against the company’s energy transition strategy and immediately restore their means of livelihood. The group, the African Network for Environment and Economic Justice (ANEEJ), in collaboration with several other environmental, human rights organisations and victims of oil extraction in Lagos, called on Shell to immediately commence a process of winding down further exploration of fossil fuels in Nigeria. Speaking at a rally in front of the Shell office in Marina, Lagos, the Executive Director ANEEJ, David Ugolor, said the group wants Shell to urgently revise its 2021 energy transition strategy to align with Paris Agreement, of limiting the increase in the average global temperature to one point five degrees celsius above pre-industrial levels. They alleged that, “the operations of shell, rather than enrich the people of Niger Delta, has become a nightmare for the people as pollution from spills and gas flaring has led to the complete degradation of the environment, destroyed the source of livelihood and inflicted untold pain and hardship on the people.” They equally hinged their calls on the premise that “Shell’s climate and energy strategy falls short of

what is required to achieve the Paris Agreement, of limiting the increase in the average global temperature to 1.5 degrees Celsius above pre-industrial levels. “Shell’s emission reduction targets are intensity-based rather than absolute and, despite the need to wind down oil and gas production, the company plans to continue to invest billions of dollars in upstream oil and gas. It targets an increase in its gas production significantly, to reach over half of its business by 2030. “Shell’s excuse that Nigeria is an oil-dependent nation hence the increase in investments in oil and gas beyond global targets to end fossil fuel extraction is unacceptable,” they stated. The group said as representatives of Nigerian oil-bearing communities and citizens who are the victims of Shell and other international oil and gas companies, they voted an emphatic “NO” to Shell's Energy Transition Strategy. They called on Shell to cut down carbon emission at source rather than targeting nature-based solutions. Other key members of the group present included the Executive Director of Indigenous Centre for Energy and Sustainable Development, Legborsi Saro Pyagbara; National Coordinator, Publish What You Pay Campaign, Nigeria, Taiwo Otitolaye; National Coordinator, Ogoni Solidarity Forum-Nigeria, Mr. Celestine Akpoborie; Leader, Ogoni Peoples Assembly.

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

AT SEC AND COMMITTEE ON IDENTITY MANAGEMENT MEETING... L-R: Managing Director, Central Securities Clearing System Plc, Mr. Haruna Jalo- Waziri; Director General, Securities and Exchange Commission, Mr. Lamido Yuguda, and Chairman, Committee on Identity Management for the Capital Market, Mr. Aigboje Aig-Imoukhuede, during a meeting between SEC and the Committee in Abuja ...yesterday

Ekweremadu to Appeal as Court Dismisses Suit Seeking to Nullify Enugu Delegates Election Gideon Arinze in Enugu The campaign organisation of former deputy president of the senate and governorship aspirant in Enugu State, Ike Ekweremadu, has vowed to appeal a federal High Court ruling, which upheld the ward congresses conducted by the Enugu State chapter of the Peoples Democratic Party (PDP). The organisation had filed a suit seeking to uphold the list of a threeman ad-hoc panel, which according to it, emanated in compliance to the PDP Constitution and Guidelines for the Election of Three-Man Delegates and National Delegates in the 30th April 2022 Ward Congress of the Peoples Democratic Party (PDP) in Enugu State. The organisation disagreed with a section of the party loyal to Governor Ifeanyi Ugwuanyi over the party’s decision to zone the 2023 governorship slot to Enugu

East, a decision that excluded his Enugu West from the contest. Members of the organisation, who were candidates in the threeman delegates election, had gone to court to validate the parallel ward congresses after they were not satisfied with the conduct of the exercise by Ugwuanyi's group. They also sought an order restraining the Independent National Electoral Commission from accepting the list of delegates for the PDP primaries in the state. But in a ruling on the suit yesterday, the court sitting in Abuja, held that the ward congress for the election of three-man delegate from the 260 Electoral Wards of Enugu State remained valid and that the list should be used to elect candidates contesting for the 2023 elections. Reacting to the ruling, the Campaign Organisation said it would appeal the judgement,

urging its supporters to remain calm as this is just the court of first instance. In a statement by its DirectorGeneral, Charles Asogwa, the organisation said, “It received with shock, the judgment of the Federal

Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George has assured Nigerians that the party would pick the best amongst its presidential aspirants at its convention taking place in Abuja at the weekend. Speaking on ‘The Morning Show’ on Arise News Channels, yesterday, George who is the leader of PDP in Lagos State said notwithstanding the misgivings over the decision of the party to throw the contest for the presidential ticket open, he believed that the leaders of PDP would still use wisdom to try to arrive at a consensus presidential candidate. George said: "I want to assure you that our party will do the best humanly possible to make sure that we will direct our minds and select and elect acceptable personality who will love Nigeria and who will see Nigeria as his home and who will not be a fanatical person. He would be a person who see the commonality in us amongst the tribes of this nation. "We are in a state of quagmire. We are in a dire state and when I listened to your analysis and you talked about money and sectional interests, I want to plead that this

coming election should focus on issues, like that of security, economy and social services," he said. George said this was not the time people would come to the convention ground and only think about the money they would receive, stressing the need for delegates to analyse the situation and access each aspirant properly before casting their votes. He also said Nigerians would need to go into prayers to ask for God's Intervention to ensure that things go well with the 2023 election. "I believe very much in prayers and we must also need to fast so that at the end the day God will direct our minds to the right person," he said. The PDP chieftain said as far as he was concerned, all the aspirants under the PDP are credible, sensible, educated and qualified to contest the party’s primary election. Commenting further, he said: "I want to plead that this election is so critical, please Nigerians don't be apathetic, come out and vote. We will do our utmost best to be sincere and transparent, there will be live coverage of our convention to show Nigerians that in our own party, we can manage ourselves. "We should be able to show that we are better managers and

April 2022 Ward Congress of the Peoples Democratic Party (PDP) in Enugu State. "Our lawyers have been directed to immediately file a Notice of Appeal against the judgment and we will surely pursue the matter to a

logical conclusion," it said, adding: “We trust God and believe that victory will be ours eventually, for no matter how fast falsehood and injustice appear to travel, truth and justice will ultimately overtake both in the fullness of time".

PDP Working to Prune Presidential Aspirants to Three Chuks Okocha in Abuja The leadership of the peoples Democratic Party (PDP) is working to prune down its presidential aspirants from 15 to not more than three to enable it present a unity candidate. According to a competent source in the PDP National Working Committee (NWC), a team comprising some members of the NWC, influential party leaders and elders have been meeting to prune down the number of aspirants for

Best Candidate will Emerge at PDP's Convention, Says Bode George Onyebuchi Ezigbo in Abuja

High Court, Abuja, dismissing the suit seeking to uphold the list of three-man ad-hoc that truly emanated in compliance to the PDP Constitution and Guidelines for the Election of Three-Man Delegates and National Delegates in the 30th

that if they can trust us that we will able to use the resources of this country for their betterment.” To his party men and women, George said: "Though we might disagree but we should never be disagreeable" According to the PDP leader, the leadership of the party in Lagos State is currently consulting with the delegates, saying very soon, they would come out with a clear position on the choice of presidential candidate.

the presidential primary election to not more than three. The team, the source said, has been evaluating all the cleared presidential aspirants on zone-byzone basis and penciling down those that were considered to have brighter chances to emerge the party’s flag bearer. "Especially those who have what it takes to win the presidential election," the source said, confirming also that in identifying aspirants to be pushed forward, the team was equally considering the competence, experience and acceptability of the aspirants across the country. "To win the 2023 election and return the PDP to power, the team is looking for an individual that is not controversial and without political baggage." The source confirmed that the team at first penciled down seven aspirants namely Saraki, Atiku, Anyim, Bala Mohammed, Tambuwal, Udom, Wike and Obi. It was gathered that in profiling the aspirants, the team was concerned about Atiku’s effectiveness at 77 years by 2023 and the fact that he appears to personify PDP’s electoral misfortune and the need to offer Nigerians something new and fresh in 2023. On Bala Mohammed, the source said the team was worried that

the Bauchi State governor did not have the political stature, maturity and recognition that could command national acceptability and followership for a general election. Besides, the source said Mohammed should focus on his second term bid, as governor of Bauchi State, the arrangement of which he was said to have concluded using proxies. The team was concerned that aside Tambuwal’s performance as Sokoto State, the fact that the North West has had more years at the presidency than any other zone in the North and indeed in the entire country makes his candidacy unmarketable for reasons of equity, justice, fairness and inclusiveness. On the flip side, the team considered Wike too controversial and almost reckless for the office of president, saying, "Wike is regarded by most Northerners as unacceptable given his brash, undiplomatic and imperialist disposition", stressing that in the PDP, the team agreed, "PDP will kiss the presidency goodbye in 2023 if Wike emerges candidate of the party." "Udom is seen by the team as energetic and enthusiastic but lacks the political exposure and experience to manage the high office of president," the team stated.

Similar to Udom, the team found Obi too idealistic and rather fanciful in his understanding of the challenges of the country, saying, "They believe Obi does not have the contact and the reach within the political establishment of the country to be able to function effectively as president. "Obi is seen as a loner and outsider, who does not command followership even in his Anambra State he ruled for eight years as governor.” However, the team believed that Saraki has shown reasonable capacity in managing complex political situations, as chairman of the Governor’s forum and Senate President, who emerged without the support of his then party the All Progressive Congress (APC). It was gathered that, "Saraki is also seen as a man, who may not be too drunk and reckless with presidential powers, if elected." When the team got to Anyim Pius Anyim, the consensus was that Anyim presented good credentials as a humble person, with the requisite political experience, exposure, contact and reach within the Nigerian Political establishment beyond party lines, based on his earlier role as a former senate president and secretary to the government of federation.

Ugwuanyi Wins Enugu North Senatorial District Ticket Governor Ifeanyi Ugwuanyi of Enugu State has won the Enugu North Senatorial District Primary Election of the Peoples Democratic Party (PDP) ahead of the 2023 general elections. Ugwuanyi was declared winner of the primary election amid jubilation by the Chairman of the five-man Electoral Panel from the National Working Committee (NWC) of the PDP, Prince Vin Yandev Amabei. According to a statement, Amabei disclosed that Ugwuanyi scored 299 valid votes cast to defeat three other aspirants in the ballot namely Mr. Okanya Celestine,

Chief Eze Godwin Ikechukwu, and Prof. Godsmark Edward Ugwu, who was personally present at the event. Declaring Ugwuanyi as the winner of the PDP ticket for Enugu North Senatorial District, the Electoral Panel Chairman said, "Having concluded the counting of the votes here, you, Rt. Hon. Ifeanyi Ugwuanyi has scored the highest number of votes cast which is 299 votes. And having scored that wide margin, by the virtue of my position as the Chairman of the National Electoral Committee for the exercise in Enugu State, I hereby declare you (Ugwuanyi)

as the PDP candidate for Enugu North Senatorial District of the state.” Amabei disclosed that the party primary was conducted in accordance with the Electoral Act and the guidelines of the PDP. The electoral process commenced with the accreditation of 318 delegates from the six Local Government Areas of Enugu North Senatorial District, which was conducted by the PDP Enugu State three-man Electoral Panel led by the Returning Officer, Barr. Tahill Ochi, before the voting exercise by the delegates. Monitored by the officials of the

Independent National Electoral Commission (INEC), the leader of the delegation described the PDP Senatorial Primary Election in Enugu North Senatorial District as peaceful and transparent, stressing that "the electoral process went well". In his acceptance speech, Ugwuanyi dedicated the victory to God, and went round to thank the delegates for their overwhelming support and solidarity. The Enugu State Chairman of the PDP, Hon. Augustine Nnamani led the Chairman of the National Electoral Committee to the venue of the primary to conduct the exercise.

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

AMAECHI IN DAMATURU... Presidential Aspirant of the All Progressives Congress, Rt Hon. Chibuike Rotimi Amaechi, addressing leaders and delegates of the party in Yobe State during a consultative meeting at the Government House Damaturu... on Monday.

CAN: Killing of Mother, Four Children in Anambra Barbaric John Shiklam in Kaduna The Kaduna State chapter of the Christian Association of Nigeria (CAN), has condemned the murder of one Fatima and her four children in Anambra State, by some eastern criminals. Fatima was reportedly killed along side four of her children on Sunday at Isulo, Orumba North Local Government Area of Anambra state by some gunmen. In a statement yesterday in Kaduna, Joseph Hayap, state chairman of the association, described the act as barbaric, saying people no longer value life in Nigeria. While noting that evil had taken over Nigeria on the grounds of religion, region, ethnicity and other differences, Hayab said, “We have read the story of the killing of

Fatima, her unborn child and four children in Anambra with sadness and disappointment about how evil activities have expanded in our country while good people are divided and silent. “Life in our country has become so cheap with the rising of many evil criminal groups in every part of the country. Killing of human beings are no longer a serious matter, because the people have been divided by tribe, region, and religion, which has made it impossible for us to collectively condemn the evil around us or fight the evil we are seeing as a united force.” He said, “CAN sees the massacre of Fatima, her unborn child, and four children by criminals and terrorists in Anambra as bad omen for Nigeria’s peace and unity,” adding that the association

could not keep quiet, when evil was destroying the land. According to him, “We all must know that when there is an injury to one, then, that injury is to all and evil only triumphs, when good people keep quiet and look the other way. CAN, therefore, is urging the federal

government to go after Fatima’s murderers and all others, who have killed any Nigerian from any region or of any identity. “Until our government and our law enforcement agencies go after all criminals and murderers and justice is seen to have been done on all murderers, this evil

will not stop and the murderers will not see their crime as evil but instead, they will smartly make us fight among ourselves and pay less attention to their crime.” While commiserating with Fatima’s family and praying to God for comfort, CAN said it would continue to preach peace,

pray for peace, and speak truth to power and against every wrongdoing in Kaduna State and Nigeria as a whole, “because we believe that an injury to one is an injury to all,” saying, Fatima’s murder in Anambra State, alongside her children has raised a lot of concerns from Nigerians.

Ortom, Suswam, Moro Clinch PDP Senatorial Tickets

George Okoh in Makurdi

Delegates from the 23 Local Government Areas of Benue State, have elected Senators that would fly the Peoples Democratic Party (PDP) tickets in the forthcoming general election in the country. While seven local governments that make up Benue North West senatorial zone endorsed Governor

Samuel Ortom as candidate of the Party, the Senator representing Benue North East Senatorial District, Senator Gabriel Suswan, also re-emerged victorious at the primaries. Governor Ortom was, in March 2022, endorsed as the sole PDP senatorial candidate by the stakeholders from the zone to contest the Senate seat.

Speaking to journalists shortly after he was declared winner by the returning officer for the election at Government House, Makurdi, Ortom expressed appreciation to the people of the zone for always standing with him, saying he was pleased to be given another opportunity to serve the state at the Senate at the expiration of his tenure as

governor. The Senator representing Benue South Senatorial District, Senator Abba Moro, also won his return bid ticket. The former Minister defeated his opponents, Saleh, Ojobo and Ogaji, to pick the ticket. While Moro polled 179 votes, Hassan Anthony Saleh had 72, while Joe ojobo got 53.

CITING INFLATIONARY CONCERNS, CBN RAISES MPR TO 13%, FIRST INCREASE IN 30 MONTHS output growth due to the associated build-up of uncertainties around the cost of inventory and other production inputs. The CBN governor said the rise in global debt was also an unfolding dilemma, which policymakers must carefully evaluate and address to avert a near-term global financial crisis. In summary, he said, while global aggregate demand remained strong and growing, the numerous supplyside constraints would continue to undermine the recovery effort, at least in the short to medium term. In the domestic economy, the CBN governor noted that data on key macroeconomic variables indicated that the recovery of output growth will continue, probably at a more subdued pace, considering the unfolding domestic and external shocks to the economy. He said domestic price development was, however, expected to maintain an upward pressure in light of the build-up of spending related to the 2023 general election. The MPC noted the risks confronting the global economy involved not only inflation and prices, but also included risks associated with weakening growth prospects across the world. The committee observed that whereas post-pandemic policy support remained broadly expansionary, at least, from a fiscal standpoint, the sharp rise in inflation across both the advanced and emerging markets economies had generated growing concern among central banks, as the progressive rise in inflation, driven by rising aggregate demand and wage growth, was putting unsustainable upward

pressure on price levels. Consequently, Emefiele said, major central banks, such as the US Fed, Bank of England, European Central Bank, and Bank of Canada, had provided strong guidance for a progressive shift away from monetary policy accommodation to drive market interest rate upward, which may ultimately impact capital flow away from Emerging Market Economies. He said, “On another hand, MPC noted that the war between Russia and Ukraine has resulted in significant disruption of the global supply chain, at a time when the global economy is still confronted with downside risks to growth associated with the COVID-19 pandemic. In addition to this, global trade has been impacted by the series of restrictions imposed by NATO countries and its allies against trade with Russia. “This has increasingly fragmented the global economy, imposing huge strains on the tepid post-pandemic recovery. Only recently, China, the USA, and South Africa are seeing a renewed spike in COVID-19 infections. “As a result, the Chinese government recently re-introduced lockdown in major industrial cities, to forestall the spread of the pandemic, further disrupting the supply chain crisis. In the view of the MPC, these two risks pose great challenges to rising inflation globally.” Among other things, the CBN governor said on the decision on whether to hold, tighten or loosen, the MPC felt that loosening in the face of the rising policy rates in advanced economies might result in

a sharp rise in capital outflow and faster dry-up of foreign credit lines. Emefiele stated, “MPC also feels that loosening could lead to further liquidity surfeit and inflationary pressure. So as to whether to hold, MPC feels its stance would strengthen the perception that the CBN has abandoned its primary mandate of taming inflation. “On the need to tighten, MPC feels that tightening would help moderate the inflationary trade-off from the steady growth recovery so far. MPC also feels that tightening would help rein in inflation before it assumes a galloping trend, considering the progressive increase in headline inflation (m-o-m), particularly with the sharp 90 basis point increase in April 2022.” Emefiele added, “Furthermore, MPC feels that tightening would narrow the negative real interest rate margin, improve market sentiment, and restore investor confidence. “Equally, members believe tightening would moderate inflationary pressure pass-through to exchange rate depreciation and moderate the speed of capital flow reversal, provide incentives for foreign capital inflows, and sustain remittances. “Lastly, tightening could moderate government domestic borrowing, as government debt servicing to revenue ratio increased significantly in recent times, threatening debt sustainability.” He said MPC members expressed deep concern about the continued uptrend of inflationary pressure, despite the gradual improvement in output growth. Emefiele said, “The committee

noted that the current rise in inflation may be inimical to growth and, thus, hinder the full recovery of the economy. While the MPC identified several supply-side factors, which may be contributing to inflationary pressure, emerging evidence shows that money demand pressure is on the rise and is unlikely to abate until the 2023 general elections are concluded. “The dilemma confronting the committee at this meeting, therefore, is how best to drive down domestic prices while continuing to support the fragile recovery.” According to him, “After carefully reviewing the developments of the last two months and the outlook for both the domestic and global economies, as well as the benefits and downsides of each policy option, the committee decided to raise the Monetary Policy Rate (MPR) to rein in the current rise in inflation, as members were of the view that the continued uptrend would adversely affect growth.”

Analysts React to MPR Hike

Commenting on the MPR adjustment by the CBN, Investment Analyst, Ayodeji Ebo, noted that the rate hike came as a surprise considering the magnitude and a major drift from the previous stance of the CBN. According to him, raising MPR will not necessarily translate to increased foreign portfolio investments due to the foreign exchange challenges. Ebo told THISDAY, “This will lead to the high cost of borrowing for firms and the government. As a result, lead to a higher cost of

production and a higher inflation rate. This will make the stock market less attractive, leading to a downtrend. Also, the fixed income market will be bearish in the interim, as traders try to minimise losses on their portfolios.” Founder and Chief Executive of Centre for the Promotion of Private Enterprise (CPPE), an economic and business advocacy think tank, Dr. Muda Yusuf, explained that while the hike in MPR by 150 basis points to 13 per cent by the MPC was understandable, “whether this would significantly impact on the inflation is a different matter.” Yusuf said, “Already, bank lending has been constrained by the high CRR (many operators in the sector claim that effective CRR is as high as 50 per cent or more for many banks), the discretionary debits by the apex bank, the 65 per cent Loan to Deposit Ratio (LDR) and liquidity ratio of 30 per cent. The lending situation in the economy is already very tight. “The Nigerian economy is not a credit-driven economy, unlike what obtains in many advanced economies, which have much higher levels of financial inclusion, robust consumer credit framework and strong correlation between interest rate and aggregate demand. “The level of financial inclusion in the Nigerian economy is still quite low, access to credit by households and MSMEs is still very challenging, and the informal sector accounts for close to 50 per cent of the economy.” Yusuf added, “The transmission effects of monetary policy on the economy are, therefore, still very weak. In the Nigerian context, price levels are not interest-sensitive.

Supply-side issues are much more profound drivers of inflation. What the recent rate hike means for the economy is that the cost of credit to the few beneficiaries of the bank credits will increase, which will impact their operating costs, prices of their products and profit margins. Investors in the fixed income instruments may also benefit from the hike. There would be some adverse effects on the equities market.” Head, Financial Institutions Ratings at Agusto & Co, Mr. Ayokunle Olubunmi, said the hike was not surprising, considering the rising inflation as well as the tilting of members of the MPC in favour of a hike in rates in previous meetings. According to Olubunmi, “If you have been following the communiqué of individual members, you would notice that gradually over the last couple of months, most members have moved from maintaining to an increase. At the last meeting, it was just a narrow decision for them to maintain it. “It is not surprising and if looked at in the context of what is happening globally, interest rates are rising and one of the major ways the CBN can actually make Nigeria look a bit more competitive is for them to raise rates. “Globally, inflation rate is also increasing and in Nigeria, while there are other factors that contribute to rising inflation, one of the ways of combating that is to also raise rates. “Also, with electioneering, there would be a significant increase in money in circulation and one of the ways to try reduce the effect of that transmitting to higher inflation is to actually raise rates.”

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

PHOTOS: SUNDAY ADIGUN

PRESIDENTIAL INTERVIEW SERIES VIII

Mohammed Hayatu-Deen:

I’ve Done My Maths, Conﬁdent of Winning PDP’s Ticket Mohammed Hayatu-Deen, a Peoples Democratic Party presidential aspirant, founded the Alpine Group in 2005, a project development company, focused on intervening in high-growth sectors of the economy through direct investments. With rich private sector experience, he has served in various advisory committees in several political administrations in this country. An experienced banker, economist, project ﬁnance executive, administrator, and an elder statesman, with about 40 years’ experience across multiple Nigerian industries, Hayatu-Deen, speaking with THISDAY ahead of the PDP primary election this weekend, addressed in an unusual way, why he wants to be Nigeria’s president, that he is a square peg in a square hole, and has all it takes to govern the country. Excerpts:

T H I S D AY ˾ WEDNESDAY, MAY 25, 2022

PRESIDENTIAL INTERVIEW SERIES VIII

It’s Fallacy to Say One Without Political Experience Can’t Lead Nigeria A few days ago, you were quoted as saying you wanted to change the character and complexion of Nigeria’s politics. What did you actually mean by that statement? What I mean is that democracy has been at its feet since 1999. So, I think there is a lot of credit to give for sustaining, nurturing and developing our democratic institutions till date. It’s the longest period of uninterrupted democratic government in this country, therefore, that’s a good thing. When we compare this to other well-established democratic countries, there is plenty of room for improvement. Firstly, I would like to see much growth and deeper citizens’ participation in the democratic space. Secondly, I will like to see the Nigerian people, who are actually responsible for electing politicians to serve their interests holding them (politicians) fully accountable for performance, and where they do not, they should exercise wise and independent judgement in ensuring that people who do not serve in the interest of the people, in accordance with the promises made to them based on their platforms and campaigns, are thrown out of office. Thirdly, I will like to see the process and recruitment of leadership into political office taken far more seriously than had hitherto been the case, so that people, who are competent, experienced, passionate about the need to serve the will of the people and to look after the best interest of Nigerian people are then elected into office. This should actually begin right from the bottom, so that political parties through their various vehicles and through their leadership, should actually seek to find people, who are really fit to govern this country across all three tiers of government. So, that’s what I mean by the need to change the character and complexion of politics. Some people believe that you and some other persons aspiring to become Nigeria’s president and have never held political ofﬁces before, may be lacking the requisite experience to lead a country like Nigeria. Don’t you think so? Well, I think that’s a point of view and I must say that point of view is wrong in the sense that, what we are seeking to provide is leadership, and based on all of the attributes of leadership, I believe that I can tick all the boxes and be a square peg in a square hole for purposes of administering and governing this country. I said this for many reasons. Firstly, it is not necessarily true that my experience has been limited to the private sector. I have deep-seated experience, both from the public sector, the private sector and the civil society space because of the work I have done. I have actually never worked in government myself as a full-time member, but as an economist, who is very passionate about development issues in this country, I have naturally been inclined towards participating in public policy in this country and I have served in the Economic Advisory Council of a number of presidents in this country. And if you recall, I was also the Chairman of the Committee on Finance and Economy for President Buhari’s Transition Committee. You might also recall that in 1992, when the economy of this country was in free fall, at a time that both the public and the private sectors were mutually suspicious of each other, and especially the public service would not allow the private sector to operate on their own, when the economy was actually more or less a closed system that did not allow for very bold reforms, at a time that government did not allow the private sector to unleash their creative energies to get very bold reforms to transfer assets from the public to the private sector, I, and a couple of other people in corporate Nigeria decided to get together to identify the factors that had actually prevented this country, the society and economy from achieving some of the lofty aims that other emerging market powers had achieved. We therefore decided to come together to identify the underlying structural issues that had prevented the public sector, the civil society and the private sector from joining forces in order to build a new Nigeria. That new Nigeria, being the need to actually foster sustainable long-term structure and economic development by embarking on major economic reforms anchored on liberalisation, deregulation, privatisation and we brought Nigeria closer to where the world was going then, bearing in mind that we were actually standing at the dawn of the 21st Century. This was in 1992. The year 2000 was not far from it. We were also fully aware that there was going to be major revolutions in information and technology by the turn of the new century, and that the world was changing and changing very fast, and therefore, it was important to get Nigeria connected to the globe. We did that work. Thank goodness! We were able to achieve substantial progress in bringing about collaboration into various segments of the society: in the public space, in the civil society space and in the private space. I was a core founding member and I became the chairman of the Nigerian Economic Summit Group (NESG). In that group, for a period of almost 20 to 25 years before I became chairman, as a member, we had done a lot of work. So, I have tremendous government experience based on everything I have told you. The requirements for leadership are such that you do not need to be a run-of-the-mill politician to be able to govern an institution, because the principles of management and leadership are actually applicable universally across all kinds of institutions. Whether you are running a family, a hospital, a church, a government agency, an NGO, or a state, or a country, there are these universal principles. In some of them, you look at the individual concerned and see what is the difference in whatever he has done. Secondly, what

is the person’s character? Thirdly, the passion and energy of the person to actually unleash change? Does such a person actually understand the country inside out? And because of my very long career in various things that I have done, I’ve come to understand this country in terms of the forces that are shaping and defining it, in terms of the opportunities and challenges that it is facing and also in terms of understanding where the world is going and where Nigeria should be, and what are the sort of actions that need to be taken to get Nigeria moving again by actually getting it to move in tandem with the way successful countries around the world are moving. Let me also mention the fact that there is nothing under a democratic form of government that says it is only if you are a politician that you should vie for the highest office in the land. As I have said at other places, there are numerous examples around the world of people who actually were never politicians that vied for the highest office in their land and became successful. The examples that come to mind is, over a hundred years ago, in 1920, Warren Harding, was elected President of the United States. He was a publisher like you. The second person that comes to my mind is President Herbert Hoover, a mining magnate, in 1928, he became elected president. The third person is President Harry Truman, who dropped that bomb at Nagasaki and Hiroshima as a sitting president of the US in 1945, he was an oil and gas and mining investor. The two Bushes were both oil men. Do you remember Saad Hariri of Lebanon, the Prime Minister of Lebanon, who was unfortunately assassinated in that big bomb blast about a decade ago? Then a reformer, he was a billionaire businessman elected prime minister and started turning Lebanon around, transforming it into a major power within the Middle East. Macron of France was an investment banker, he just popped out on the scene and captured the French presidency. Zelensky, stand-up comedian and yet, as soon as he got into office, look at the nature of the crisis he

is facing today. This man stands very tall amongst global leaders. So, it is a fallacy to say that somebody who does not have experience in politics should actually not go into politics. I think it’s a white-wash. That’s my view. Everybody should be seen for what they represent. Nigerians in general should actually look at the person for whom he is. People’s records are not hidden. They are out there in the public domain, their personalities are fairly well-known and well-defined, their thoughts on issues are fairly clear. I’ve been delivering public lectures and doing things and for 32 years, I’ve been living in Lagos and even before then, in my previous job as the Group Chief Executive of New Nigeria Development Corporation (NNDC) in Kaduna, I have done a lot of stuff for people. I think I’m a well-defined person. You have been visiting states, meeting and interacting with people and delegates across the country, how bright are your chances of emerging PDP’s presidential candidate and eventually, winning the election in 2023? Let me first and foremost say that I’ve been in politics for a couple of months, but I’m not a stranger to the Nigerian political scene. There is nothing you do in your life, from your home to the school, to your workplace, to the clubs that you visit, to the mosque or church that you go to, where there is no politics. Politics is part of our life. Politics is nothing but the art of actually knowing how to work with people to agree to make a deal, to agree to make compromises here and there, to agree to resolve conflicts. When you are negotiating with your wife, you are actually playing some kind of politics. The only difference is, in partisan politics, you are talking about elective office. So, politics has been deeply ingrained in me for a very long period of time. Secondly, the kind of institution that I ran, the NNDC was the single-largest diversified holding company in the mid-80s, when I was given the responsibility at the age of 30 to administer that

The ordinary Nigerian, wherever he comes from, loves the other Nigerian to death. The elites seek to divide us. So, wherever I go and see these delegates, they all resonate with my message and I have found these town hall meetings exhilarating and heartwarming, and I was able to capture their moods and come to clearly understand and reconﬁrm what I already know about who they say they are

institution with 145 subsidiary companies reporting to my office. The NNDC was actually owned by the 19 northern states. When I started off in the mid-1980s, I had 19 shareholders. These shareholders were the military governors of the 19 northern states, most of them were Major Generals and Brigadier Generals. There was a lot of contesting tension among these states in terms of laying claims on the group. Everybody wanted one thing or the other. So, it was a complex relationship, which I managed effectively. So, I’m deeply experienced in these matters. In the Nigeria Economic Summit Group, you go into a room, on any issue, you get about 100 different opinions. The leader has to negotiate on each of these things. We had to negotiate with labour unions. I ran the largest portfolio of textile companies in this country. I had about 13 textile companies under the group from Lagos to Kano to Zamfara, Sokoto, Kaduna, all the textile Mills. Adams Oshiomhole was a labour leader at that time and he gave me hell. That’s politics. So, you asked me about my chances. First of all, I don’t go into anything without actually reflecting very carefully about it. Secondly, the reason why I went in is not because I want anything out of it personally for myself, my family or my friends. I see this country standing on a brink, almost approaching a failed state. All the sounds and stresses are there for who wants to see; the structural holes, the cracks are there for anybody to see. I don’t want to be a bystander watching what is going on, only for my conscience to say, if something terrible happens, what were you doing then? That you decided to stay in your private comfort and you refused to get into the murky waters of politics. I don’t want my children to hold me accountable down the road and say, ‘daddy, what were you doing?’ Or ordinary Nigerians to say, ‘we know this guy, he has so much to offer, he’s sitting down, because he doesn’t want any mud on his face.’ I think the time for courageous people in civil society space, in the private space has come. There is no better time than now for us to enrich the pool of politicians in this country and get many men and women of quality and distinction, who are going to be there not because they are going to help themselves, not because they are going to help their friends and families, but because they believe they have something they can give. And we have highly experienced politicians in this country. I do not agree with those who say that all politicians are bad. Contrary to the case, there are politicians even now who are very passionate and who are doing a good job. I have done my maths very carefully and I’m going in to win and my message has resonated very well with all of the delegates that I have actually visited. And it’s a competitive race, I know there are many competitors there but we have grand deals worked out, and I’m confident that I will put up a very good show at the primaries coming up this week. What will you say to some of your fellow contestants in the PDP who see you as an underdog? Well, when people are involved in a competitive race, a couple of things come into play, everybody wants to win, and that is everywhere in the world. Secondly, everybody thinks he is better than the other person or everybody else and so will want to put other people down. They are not the electors. The electors are Nigerians, so they are the ones to judge. That’s what I will say. Why do you think you should be Nigeria’s president come 2023, especially now that there is a general sentiment that power should shift to the south? I think this argument that power should shift to the south, if you had asked me three or four weeks ago, it would have been appropriate to spend a lot of time on it. The party leadership in its wisdom has decided that this is an open contest. This issue had been up in the air and travelling at just 1000 miles per hour, it’s now a shut case that had gone to the highest policymaking body of the party and they decided to open it up for all. Let me tell you this, first, in 1999 beginning from preparations in 1998, this is now almost 23 to 24 years, there was a major event that took place during MKO Abiola’s election followed by a lot of commotion from many places leading up to 1998, and it was decided by the party bigwigs that given what had happened, it was important for us to stabilise this country to hand over power to somebody from the South-west to compensate the denial of Abiola’s mandate. There was no constitutional provision, there was no referendum taken among the south, and this was how the world works. It was an open contest. People like the late Abubakar Rimi, Philip Asiodu and others ran to me and contested about that. That was a private arrangement that was done. So, we were able to organise to shift the votes to Obasanjo. Secondly, it’s now almost a generation and after 23 years, we are still bugged down with power shift. I think it’s unreasonable. Thirdly, it goes against the principles of democracy as far as I’m concerned. You cannot shut anyone out under a democratic contest. Anybody who is eligible that meets the criteria to either vote for somebody or to be voted for, let him go on. I refuse to accept the lazy argument that this thing should be zoned and given to a particular zone. Abiola invested almost 20 to 25 years of goodwill across the country. Tofa, who was a very popular person in Kano lost Kano to Abiola. Anybody from the South-east, or South-south or the north who wants to become president should go and do that hard work and build alliances. Nigerians are good people. If Continued on page 52

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

PRESIDENTIAL INTERVIEW SERIES VIII

Nigeria on the Brink, Approaching a Failed State you show them that you actually have their back and you are waiting for them, you will be amazed. In 1999, a large section of the northern establishment, over 80 per cent of them, who were military, were backing Alex Ekwueme for the presidency. As journalists, I will actually encourage you to send messages to people, to actually go out there to build friendship and relationships and sow the seeds. You will be surprised that an Ibibio or an Igbo guy or Ijaw man can easily get elected president, because the democratic space is very free and very open, and it’s all about relationships. That investment has to happen. There is no reason why Mohammed Hayatu-Deen should be prevented from exercising his own democratic and human rights. That’s my answer to that question. You were part of a previous arrangement in the north for a consensus northern candidate, but that arrangement later collapsed. Why did it collapse? Let me say that the reason for putting in place that framework for producing a consensus candidate from the northern part of the country was informed by two or three reasons. First and foremost, the field was getting large both in the north and in the south to the point where it would become difficult to manage at the convention. Secondly, the election of 2023 is PDP’s to lose and if caution is not exercised the APC may actually snatch victory from the jaws of defeat if we have an acrimonious convention. Thirdly was that the consensus arrangement was actually going to happen in stages. That the north should reduce the field to one person or maximum of two and second, that this particular message should actually also be taken to the southern part of the country. At the time, we knew more people were going to come out, but only Pius Anyim had come out as at the time. Lo and behold, after a few weeks, there were far more contestants in the southern part of the country than the north. So, we now started going to various parts of the country, preaching to the governors of the PDP to do other things in their powers to actually shrink the field in the south so that when we go to the convention, we’ll have few people to narrow this process. To answer your question, the consensus arrangement in the north fell apart simply because the candidates felt that the basis for it existed no more and therefore, it was better for each person to actually run their own independent campaign. In so doing, taking cognisance of two things: That we would be able to establish very good relationships amongst ourselves. Also, it provided a teaching moment as we go to the convention to begin to put together some kind of framework even before the convention as to how these things will coalesce and still have a very successful convention and produce a candidate. So, those were the reasons. How many states have you visited so far? I have covered almost all the states. I’ve been to the north, but I still have one state there to visit. I’ve been to the South-west. For the South-east, we attempted twice. The first time, our plane had actually taken off for Anambra, when we were told that a sit-at-home order had been issued and we were not aware. So, we decided to come back. A day later, we tried again, and we had informed all the delegates, when we were told a sit-at-home order had actually been extended to Thursday (Tuesday, Wednesday and Thursday). So, we’ve not been able to go. There are a few days left, we will still attempt to go, but we have also heard that there was a warning that people should not attempt to enter there now, that things are beginning to heat up. And the delegates, I understand, are already beginning to travel to Abuja. So it’s a matter of great regret to me that we have not been able to embark on this trip. But we intend to meet all of them in Abuja. Yesterday (Monday) I had about a few hours meeting with their representatives in my house here in Lagos. Every single part of this country is important in every inch we are taking. From your travels around the country, meeting with these delegates and other stakeholders around the country, what lessons would you say you have learnt about Nigeria and its diversity? Speaking to my background, even though I was born in Maiduguri, Borno State, I left the state as a child. My father was a veteran educationist and has been all over northern Nigeria. So, I grew up as a very cosmopolitan person, because the kids that I mingled with in elementary school, in secondary school were drawn from different languages, different religious backgrounds. And you know, as a very young boy, your puberty years are very important. When you begin to form a view that is broader and you are not eccentric and you are not limited to just yourself and your religion, it actually gives you the opportunity to have a much broader outlook about life. By the time I went to Ahmadu Bello University (ABU), my vista opened the more. When I went to ABU, I had come to meet almost all of Nigeria, because ABU was the most diverse. So, I had formed relationships with people from all over this country. I went for my NYSC in Ondo State, which further reinforced my Nigerianess. And by the time I came to Lagos, where I have spent 32 years of my life, I further enlarged my relationships and friendships with Nigerians from other backgrounds. So, I’m already used to diversity. And so, I love this country with a passion. I love the people of this country because we are a happy people no matter how much hardship we face. The ordinary Nigerian, wherever he comes from, loves the other Nigerian to death. The elites seek to divide us.

Twenty-ﬁve years ago, whenever and wherever there was a hotspot in this country, it’s isolated in one or two places. Today, the entire country has virtually been gas-lighted.This did not happen overnight. We saw it coming for almost 25 years. Much of it was the product of poor governance and this applies across all the three tiers of government So, wherever I go and see these delegates, they all resonate with my message and I have found these town hall meetings exhilarating and heartwarming, and I was able to capture their moods and come to clearly understand and reconfirm what I already know about who they say they are, their feelings about their community, their feelings about their country, their feelings in terms of their pains, and the need for somebody to just give them hope and optimism. And I believe I’m that one person who can restore hope and optimism to Nigeria, so that we can build a much stronger and more prosperous country. One of the challenges in Nigeria today is insecurity. How do you intend to tackle that when you become Nigeria’s president? Twenty-five years ago, whenever and wherever there was a hotspot in this country, it’s isolated in one or two places. Today, the entire country has virtually been gas-lighted. This did not happen overnight. We saw it coming for almost 25 years. Much of it was the product of poor governance and this applies across all the three tiers of government. And corruption has become a cankerworm, almost a cancer in this country. When leaders are aloof and distant and run away from their mandates and chase shadows, they don’t have interest in the welfare of the Nigerian people at heart, things fall apart, like Chinua Achebe once said. So, the economy is flying up in a million dollars with absolutely no cohesion, and there is no comprehensive and clear vision as to how to manage the economy in a way that it is stable and in a way it is able to deliver the highest standard of living to the Nigerian people. Our social institutions have also broken down completely. Given that our population is growing in leaps and bounds, we are probably the highest, growing at the highest rate, with the rate of population growth in our country, standing to about 210 million, compared to about 106 some 23 years ago. There is no need, having a large number of people that are human assets, if you cannot actually open up the economy; create jobs so that they can become gainfully employed. The human being is a rational mind. When people have food to eat and they can engage themselves and become very productive economic and social agents, they will not lift a pin to hurt the other person. When people have got nothing to lose and their backs are against the wall, animosity instinct will begin to kick in because they have nothing absolute to lose. You wake up in the morning hungry, you go to bed hungry, you have malaria, you don’t know where to treat yourself. Your children die, your wife is pregnant, you don’t have money to go to the hospital. People either get paralysed or die. Children die in their mothers’ womb. This is what is happening to the 70 or 80 million people. The

greater majority of them are not able to have an opportunity to go to school and get quality education. So, the problem of insecurity must be located within the economic and social system. And unless we are able to fix this, all we are doing by deploying guns and bullets is providing a bandage. You haven’t cured the problem. Therefore, As I have said in other places, security in today’s world is defined broadly across a number of parameters, because it’s like the human body. We have so many organs: the brain, nose, the kidneys, the liver, the lungs. There is something that actually runs this machine, the human body, and unless each part is running and they are synchronised together, the body gets challenged. It is the same thing with human organisations. Essentially, what I’m saying to you is that when we are looking at security, we need to define it in very broad terms. So we have economic security, political security in terms of the kind of politics we have and how we practise it, creating a very stable political environment that is based on democratic principles and applying them as we should. You are talking of social security, there are questions about the environment, population, values, character, our interest and values. Many of these have dropped. We now have drugs, fraud, alcoholism, sex slaves. Given the state of the country now, where inﬂation rate is at double-digit, with high rate of unemployment, how do you intend to reset the economy to galvanise economic growth and national development? I think when it comes to the economy, the way to look at it is to approach it in a very methodical and systematic manner. First of all, long before I get into office, I would have fully come to terms with the operational and structural problems confronting this economy. I’m not one of those who will get into office and begin to find out what happened. I already have available facts, what the issues are. To answer your question, firstly, I intend to work with a first-class team of people located in the executive office of the president in the cabinet, in the parastatals, departments and agencies of government. The way we hire people in the private sector, those are the same set of principles that I’m going to apply in actually hiring every chief executive officer in the parastatals, because they would be responsible for generating the revenue. I will like to develop a 30-year vision for this country leading us to 2050. Every country that you have seen that has become successful in modern times, has always looked at the long-term strategic vision of that country. So, the fundamental question is, where do you want Nigeria by the year 2050? I want Nigeria to be one of the seven-largest economies in the world. I will like to see a Nigeria that is earning high income per capita, one of the

highest in the world; a country that has long fully integrated the society, where people who live in rural areas are enjoying the highest standard of living; a country that has been fully industrialised, that will be in a position to actually manufacture aircraft, put people in space, do all the things that we know Japan and America are doing today. Countries like Brazil that have gone very far. That we become a high-earning service economy, where 95 per cent of citizens have access to their own housing. So, all of today’s ills will be fully cured under three development planning cycles of 10 years each. Under each plan, we would decide the goals that we are going to achieve in the next 10 years, say 2032 -2042, 2042 to earlier 2050. So, that’s the end state. It’s a long-term strategic plan. But immediately, what we need to do is that when you see a patient who is involved in an accident, you need to actually stabilise that patient and stop the bleeding. There are many bleeding points both in terms of inflation, interest rate, exchange rate, high levels of unemployment, issues of gender, issues with youths, issues of crime, all those low-hanging fruits, there are hundreds of them there. I will immediately deal with them. Once you start dealing with that, Nigerians are actually very easy going people. They can rally to your friends to say, these guys know what they are doing, they are working for us, let’s get onboard and help, because they will immediately begin to see the fruit of their labour. That’s in the short term. In the medium term, you now want to begin rebuilding the economy to the point where unemployment is going to be reduced tremendously, when you are getting to work by providing them with incentives. You would have reformed government institutions, because critical to these things is the need to get the government to work. There is no president, no minister, who can do anything all by himself, no matter how much he wishes. We need to reform the public service and infuse a lot of energy and dynamism and motivation in the public sector, reform it and make it look more and more like the public service in Malaysia, Dubai or other places. That, I think, is critical in the medium term. When I said medium term, it is within the period of two years. That is to say, if we start now, you are going to see the results after two or two and a half years. And then in the long term, I’m talking about linking it to the vision. So, that’s the way I will actually address these problems. When you visited former President Olusegun Obasanjo, one of the things he said was that Nigeria’s next president must be someone that has ‘mad passion’ for the country; someone who is innovative and someone who can confront present challenges facing the country. Do you think you are that person, and why? What President Obasanjo said will come out in full very soon. Both of us had a very long private conversation before he went out to meet with the press. Whatever was said in the press, we had actually discussed in private. And essentially, what he was trying to say was that both of us are passionate about three things, but the media actually reported his own side. But he had actually said, I’m one of those persons, who have a passion in the drive. When he mentioned madness, people should not translate it literally. He was talking about someone, who has the passion and hunger to get things done in this country, that was the context in which he mentioned it. And, in all of those qualities that he mentioned, I do have them and I’ve shown them in the past and I intend to demonstrate them even the more on a much larger scale with far more ferocity and intensity.

WEDNESDAY MAY 25, 2022 ˾ T H I S D AY

NEWS

Soludo Denies Religious Killings in Anambra, Warns against Incitement

David-Chyddy Eleke in Awka

The Governor of Anambra State, Prof Chukwuma Soludo has denied reports that religious killings targeted at northerners have been happening silently in the state. The governor also warned an Abuja based newspaper, Daily Trust against inciting violence in the country. Soludo was reacting to a lead story by the media outfit, where it reported that coordinated killings targeted at northerners have been going on in Anambra State. The governor in a statement issued by his Press Secretary, Mr. Christian Aburime said: “While it is true that there is general insecurity across the country, there is no targeted religious or ethnic killings in Anambra State. “As a matter of fact, Anambra indigenes have suffered more casualties as a result of the unfortunate killings. “The insensitive slant of the Daily Trust report have the tendency to stir anger

and disaffection in other parts of the country. The report, therefore, is totally unacceptable and inimical to the unity and progress of the nation.

“Government of Anambra State hereby states that the report is not only sensational but misleading and should be immediately retracted to reflect the real situation on

ground.” The statement noted that Anambra indigenes and people of the North and other parts of the country live and do business with

each other, and have share common values, but have always lived at peace with each other in the state. It stated too that the Soludo administration has not only

demonstrated commitment in tackling insecurity, but has continuously reassured both indigenes and non-indigenes in the State of their protection and safety.

EMPOWERING THE YOUTH...

L-R: Manager, Tokunbo Abiru Constituency Team (TACT) Foundation, Mr. Hamzat Jimoh; Senator Tokunbo Abiru; Co-founder, Co-Creation Hub(Cc-Hub), Mr. Bosun Tijani; Legal Adviser to Senator Tokunbo Abiru, Mr. Abiodun Anibaba; and Senator Abiru Innovation Lab(SAIL), Programme Coordinator, Mr. Adedeji Abisola, when TACT Foundation and Co- Creation Hub (CC-HUB) held in Lagos… yesterday ETOP UKUTT

Ikpeazu Wins PDP Senatorial Arepo Estate Residents Commend Abiodun on Road Reconstruction Ticket for Abia South James Sowole in Akure

Abia State Governor, Dr Okezie Ikpeazu, has picked the senatorial ticket for Abia South District following his triumph at the primary election of the Peoples Democratic Party (PDP) held across the state. Ikpeazu, whose tenure as governor would end in May 2023 has kept his senatorial ambition largely close to his heart, making his political future a subject of speculation in the state. But the governor was declared unopposed at the senatorial primary held at the Enyimba International Stadium, Aba. The returning officer, Chief Ndidi Okereke, who is a former Abia PDP chairman, said that the governor had no challenger

for the senatorial ticket hence he was returned unopposed. Governor Ikpeazu would face opponents from opposition parties during the general election coming up next year in order to determine if his dream of becoming a senator like his predecessors would materialise. Both Senator Theodore Orji and Senate Chief Whip, Senator Orji Uzor Kalu had served as governors of Abia before migrating to the Red Chamber of the National Assembly. In the Abia Central District primary held at the Umuahia Stadium, former national organising secretary of PDP, Col. Austin Akobundu roundly defeated his opponents to pick the ticket.

Goje Writes Ayu over Inclusion in PDP Primaries appeared on a PDP ballot paper Nseobong Okon-Ekong

The All Progressives Congress (APC) Senator, representing Gombe Central Senatorial District, Mohammed Danjuma Goje, has written the National Chairman of the Peoples Democratic Party (PDP), Dr. Iyorchia Ayu, over the inclusion of his name among the participants in the opposition party’s senatorial primaries in Gombe State. Goje’s full name and picture

alongside other persons who are said to have also participated in the primaries held on the 23rd of May 2022. But the lawmaker, in a letter to the PDP chairman through his counsel, Paul Erokoro (SAN), reiterated that he remains a registered, card-carrying member of the APC, on whose platform he was elected senator twice. He reiterated that he has not joined the PDP or any other political party.

Group Berates APC Chairman for Poor Handling of Party in Ondo Raheem Akingbolu A group, Sunshine Movement has berated the Ondo All Progressives Congress (APC) Chairman in Ondo State, Ade Adetimehin over his poor handling of party’s affairs. In a statement the Chairman of the group, Adewole Ifedayo, said Adetimehin has lost all sense of modicum to still function as the state chairman of the party. He called on the governor of the state, Arakunrin Oluwarotimi Akeredolu to

wade into the crisis in the party ahead the forthcoming primary. “The governor had repeatedly assured all members of the party of a level-playing ground, but Adetimehin in cahoots with few renegades in the party have hijacked or ‘doctored’ the delegates list to suit their whims and caprices in all the Eighteen local government in the state”, Ifedayo said. “Adetimehin has placed selfish, group and sectional interests over and above the general interests of the party.”

Residents of Journalists Estate, Arepo and other adjourning communities in Obafemi/ Owode Local Government area of Ogun State have commended, the State Governor, Prince Dapo Abiodun, on the reconstruction of 2.5km road in the area. The reconstruction of the road in the estate, located off Lagos-Ibadan Expressway, was described, by the journalists and non-journalists, as promise kept by the governor. The road according to

findings was at 85 per cent completion level. It was gathered that the governor, had during his electioneering campaign in the area, promised to construct the road, that had hitherto been causing untold hardship to the residents. According to the residents, while the construction carried out on the road by the former Governor Gbenga Daniel, could not stand the test of time due to lack of proper drainage, Governor, Ibikunle Amosun, who re-awarded the contract

for the road, failed to mobilise the contractor. Disturbed by the deplorable state of the road due to the lack of mobilisation by the Amosun administration, the Arepo Central Community Development Association (ACCDA) embarked a palliative measure, which cost them N18 million. They said hope of relief however, came in January, 2021, when Abiodun signed the contract for the Arepo road, and in April 2021, the contractor was mobilised to the site.

Assuring that the project would not be one of the usual ones, the Commissioner for Works, Mr. Ade Akinsanya said: “The new Journalists Estate Road, Arepo will bring relief to road users along the Lagos-Ibadan Expressway axis who have faced difficult times navigating their ways to their home, especially during the rainy season.” He added that there would be no abandonment of the project because it had been well funded, dualised and with medium and street lights.

College of Education Union Warms Up for Industrial Action

Segun Awofadeji in Bauchi

The Colleges of Education Union Academic Staff (COEASU) has lamented the lackadaisical attitude of both federal and state governments in the country towards addressing the plights of its members. The union warned that if tangible efforts were not put to address the lingering labour issues at the expiration of its 21 days ultimatum on May 28, 2022, they would have no

alternative than to embark on industrial action across the country. The Vice President and North-east Zonal Co-ordinator of COEASU, Mr. Mohammed Bello Umar, who made the announcemen in a press statement in Bauchi yesterday, also said that they were seriously concerned about the lingering issues of industrial concerns in the country’s Colleges of Education, which needed quick attention.

Umar said: “This, as always, is for the purpose drawing the attention of the general public and governments to the plight of COEASU in Nigeria for possible redress.” The union noted with dismay that despite the breathing space it accorded to the government to address the issues militating the social, economic and political life of Nigerians, nothing is been done to address the issues. “The issues bedeviling the

social, economic, and political life of Nigerians among others and in particular the issues queued up in the education industry, the attitude of the government in handling problems concerning the Nigerian Colleges of Education is, to say the least, worrisome.” The Union also noted that the sub sector is faced with a number of problems with serious and varying effects on the staff, students, and by extension, the larger community.

Ogun PDP Candidates Protest Plan to SubstituteAmosun, their Names said they were dully James Sowole in Abeokuta

Seven candidates who emerged at the Sunday and Monday’s primaries into the Ogun State House of Assembly and the National Assembly, in Ogun State on the platform of the People’s Democratic Party (PDP), yesterday threatened to go to court, should attempt to illegally substitute their names is not reversed.

The candidates made the threat yesterday at a news conference in Abeokuta, the state capital. The candidates, who alleged that some interest in the party, were trying to perpetrate injustice: They are Dada Oduntan, who emerged as the candidate for the Abeokuta Centra Central Senatorial District, , Akeem Amosun for Abeokuta South Federal Constituency and

Olawale Soyode for Ifo/Ewekoro Federal Constituency Others are: Samuel Abiodun, who emerged for Abeokuta North/Obafemi Owode/Odeda Federal Constituency, Olanrewaju Enilolobo for Abeokuta South 1 Constituency, Surajudeen Adeyemi, Abeokuta South II and Makanjuola Daniel of Ewekoro State Constituency. Addressing journalists on behalf of other candidates,

elected by delegates at the designated venue scheduled by the PDP According to Amosun, the exercises, were dully monitored by the officials of the Independent National Electoral Commission (INEC), security operatives including the police, Directorate of State Services (DSS), Nigeria Security and Civil Defence (NSCDC).

Tripple Gee Unveils NilPeter 11-Colour Printing Press Ebiti Yusuf The Nigerian printing industry is about to witness a major boost as Tripple Gee and Company Plc has launched the NilPeter 11-Colour Flexo Press, the first in the country and second on the entire African continent. Tripple Gee, a company that got listed on the Nigerian Exchange Limited in 1991, has

over 40 years of experience manufacturing secure financial and commercial instruments, labels, flexible packaging materials and high end authentication and verification services. However, in a bid to consolidate on its areas of strength, expand into new areas and continue to satisfy customers and deliver good return to shareholders, the company acquired the NilPeter 11-Colour

Felxo Press with financial support from Providus Bank and Bank of Industry (BOI). Speaking at the unveiling ceremony in Lagos last Thursday, Group Managing Director of Tripple Gee and Company Plc, Mrs. Adebimpe Giwa, said with the new printing press, the company has the needed impetus to launch into new areas of flexible printing. “This will definitely improve our

delivery timelines and response time to our esteemed clients, assure of better and more consistent quality outputs and in turn have a positive effect on our turnover as a company,” she said. Mrs. Giwa explained that the press has 11 colour units and offers top of the range technologies for colour matching, registration linked up NilPeter’s 24/7 worldwide service.

WEDNESDAY MAY 25, 2022 ˾ T H I S D AY

NEWSXTRA

FCTA Arrests 15 Suspects for Dei-Dei Market Mayhem Olawale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA) yesterday arrested 15 suspects in connection with the fracas at Dei-Dei International Market last week, after it raided the forests around Jiwa forests and its environs. The raid was authorised by Sarkin Jiwa, Alhaji Idris Musa on the information that the forest was serving as hideout for criminal elements, who were alleged to be disturbing the peace of the communities. The Jiwa forests is a notorious hideout said to be used by criminals to unleash mayhem on innocent people in the area. The Senior Special Assistant on Monitoring, Inspection and Enforcement to FCT Minister, Ikharo Attah, said the operation was necessitated by public outcry against the activities of scavengers, popularly known as Baban Bolas. He said apart from some of the residents who confirmed the involvement of the scavengers in the Dei-Dei crisis, the security agencies had also linked a lot of the

crimes to them. He decried the freedom enjoyed by the scavengers, who are often found to be moving around with dangerous weapons and attacking innocent residents. He said the operation would be extended to other places

harbouring these urchins, to guarantee maximum safety and security for all residents. Attah added that FCTA had no plans to stop legitimate business of waste collection and recycling, apart from the responsibility to tackle the crimes and criminals operating

under whatever guise. “We got intensive complaints about insecurity around Jiwa axis and communities that have come under attacks by people believed to be baban bolas. This area is also notorious as it was the place where two police

officers were ambushed and their rifles were also taken away, before they were later recovered. “This is why we have to come out today under the directives of the FCT Minister, to clean all the dangerous forests where these people are

taking shelter and wreaking havoc on the residents. We have arrested over 15 persons. “Waste collection and recycling is not a crime, but the crimes associated with Baban Bolas is what we will not fold our hands and watch,” he noted.

GIRLS IN ICT DAY…

L-R: Marketing Manager, inq.Digital Nigeria, Martina Ogbebor; Head of Nigerian Communications Commission, Lagos Office, Tolulase Omodele-Rufai ; Chief Executive Officer, eBusinesslife, Ufuoma Emuophedaro; and Project Manager, inq. Digital Nigeria,Temitope Ojo-Awo, at the 2022 edition of the International Girls in ICTDay Celebration held in Lagos.. recently

Navy Deactivates 172 Illegal Enugu Governor Endorses Peter Mba as Successor of Enugu State, Ifeanyi “As far back as October 2019, with the Governor of the State, former deputy Senate President Refineries, Recovers Governor Ugwuanyi, has endorsed Mr. Peter I invited Peter Mba to my house. a fine, peaceful gentleman and I “has come to see me many times Mba as his successor in 2023. When he came, I told him to told him that anybody that will and I told him about the need 20m Litres of Crude Oil An elder statesman and former consider running for a position, succeed him must bring peace for peace. I have asked him to of Operations, Nigerian Navy, Kingsley Nwezeh inAbuja The Nigerian Navy yesterday said that it deactivated 172 illegal refineries and recovered 20,378,414 liters of crude oil and 367,715 liters of Dual Purpose Kerosene (DPK) in seven weeks after it launched an operation against crude oil theft in the Niger Delta region It put the cost at N15,761,536,440. Other recoveries include 232,000 Liters of PMS, 830,000 liters of lludge and 66,000 liters of LPFO and 11,781,937 litres of illegally refined Automotive Gas Oil (AGO). At a briefing in Abuja ahead of its 66th anniversary, the Chief

Rear Admiral A. S. Garba, said 45 suspects were also arrested. Reviewing the general operations of the Navy, he said it also performed satisfactorily in the fight against crude oil theft and illegal oil bunkering through operations conducted by operations bases and Forward Operating Bases (FOBs). “The most recent and ongoing operation in the NN is Op Dakatar da Barawo (meaning “stop the thief” in hausa language) which was activated on April 1, 2022, in synergy with the Nigerian National Petroleum Corporation Limited.

Rivers APC Castigates Wike over Dissolution of Cabinet

Blessing Ibunge in Port Harcourt

The All Progressives Congress (APC) in Rivers State has criticised the State Governor, Mr. Nyesom Wike, for the impromptu dissolution of the State Executive Council (SEC). The Special Assistant on Media to the Governor, Mr. Kelvin Ebiri, issued public statement that announced the dissolution of the state cabinet yesterday. The statement also mentioned that the chief of staff to the

governor and the senior special assistant (protocol), have also been relieved of their office. Ebiri said: “His Excellency, Governor Nyesom Ezenwo Wike, commends the members the Rivers State Executive Council for their service and contribution to the development of the state. He has also wished them the best in all their future endeavours. “Governor Wike has, therefore, instructed all the former members of the SEC to hand over to the most senior officers in their respective ministries.”

Osun Guber: Liberians Donate $100,000 to Ogunbiyi, Urge Osun Indigenes to Vote for Him

Yinka Kolawole in Osogbo

Expressing gratitude for his positive contributions to the economic growth of their country, a delegation of Eminent Persons from Liberia yesterday visited the governorship candidate of Accord Party (AP), Dr. Akin Ogunbiyi, in Osogbo, Osun State capital. The Liberian delegation, which was led by Ambassador Dew Tuan-Wleh Mayson and his wife, Roberta and donated $100,000 to Ogunbiyi, had in

their entourage representative of Disability Union of Liberia (DUL), DJ Constance, and the chairman of Organisation of Liberians Abroad (OLA). In his remark, Mayson, who is also a professor, said although travelling to Nigeria was not so easy at this time, they had to come and show their support for Ogunbiyi, adding that: “He is a distinguished and reliable individual, and that Osun State will be lucky to have him as their governor.”

Governor of old Anambra State, Senator Jim Nwobodo, disclosed this yesterday, saying that after due consultations, Mba has been identified as the right person to succeed Governor Ugwuanyi. Nwobodo, who spoke to newsmen at his Amaechi country home, said:“From my interaction with a number of them, I was looking for somebody who I think should redevelop Enugu State.

especially Governor. He didn’t give me an answer immediately, but later he came and said he would consider running. “Tomorrow, people will ask why am I keeping quiet, this is why I’m addressing the media today. I believe anybody who wins the primary tomorrow will be the Governor because the PDP is the only party in Enugu State “I have also been speaking

“We need a Governor who will not go into any war, rascality, or vandalism but peace. Anybody who wants to be the Governor must follow the same path. “I have heard all kinds of rumours about people claiming they are sponsoring Peter Mba, but he knows that I brought him into this race.” On Senator Ike Ekweremadu’s ambition, Nwobodo said the

withdraw all cases in court so that we talk peace. “We need peace in Enugu and that’s the legacy Ugwuanyi is leaving behind. “I have asked Ekweremadu to collapse his team, let them join the rest in making Enugu to work. “I want to thank the Governor of the State for the way he has piloted the affairs of the State,” he stated.

Ekiti Varsity ASUU Vows to Continue with Strike Victor Ogunje in Ado Ekiti

The Academic Staff Union of Universities (ASUU), Ekiti State University (EKSU) Chapter, has rejected the proposed resumption and suspension of the ongoing nationwide strike by members of the academic staff as mooted by the management of the institution. The Chairman of EKSU Chapter of ASUU, Dr. Kayode Arogundade, said his members are in full compliance with the

ongoing strike by the union, urging students to disregard the resumption earlier announced by the university’s management. The EKSU’s management at its meeting on May 23, 2022, ordered that the university shoud be reopened yesterday for academic work. In a statement signed by the university’s Director, Corporate Affairs, Mr Bode Olofinmuagun, on behalf of the Vice Chancellor, Professor Eddy Olanipekun,

said it took the decision taking cognisance of the pains being experienced by students and parents due to the protracted strike. But the ASUU’s chairman in a statement made available to journalists, in Ado yesterday clarified that his members have not backed out of the national strike that has just been rolled over for the next twelve weeks from May 8, 2022. Arogundade stated that the

instruction handed down by the vice chancellor and the committee of deans that all academic staff should resume should be disregarded because negated ther current struggle as a union. He said: “ASUU EKSU wishes to use the medium to announce to the general public that mandating the re-opening of the university is purely political and EKSG is not ready to attend to the demand of the university.

Bauchi Communities Stakeholders Petition President Buhari over Insecurity

Segun Awofadeji in Bauchi

The Concerned Stakeholders of Bogoro and Tafawa Balewa Local Government Areas of Bauchi State have called on President Muhammadu Buhari to intervene in the security challenges bedeviling the people of the area. The stakeholders of the two local government areas in an open letter they sent to the President Buhari, expressed worry over the spate of attacks

in the areas, a development they said was causing fear and tension. The copies of the letter to the President, was issued to newsmen in Bauchi under the umbrella of the Conference of Community Development Associations and Religious Leaders Forum, Bogoro and Tafawa Balewa Local Government Areas, Bauchi State. The concerned citizens appealed to Buhari to intervene

in the situation saying that it has become necessary for them to sound the early warning to avoid total collapse. The letter reads: “As concerned residents in the region, we are alarmed by the development. Granted the recent disturbing state of insecurity which the federal and state governments are both concerned about, we the leaders of our people across ethnic and religious divides have

their mandate to communicate our concern, and we believe immediate and appropriate actions will be taken by the government to prevent the situation from worsening. “Recently, there have been successions of heinous incidents that have made us quite alarmed. Our people are fleeing in fear of terror at a time when communities are celebrating the completion of state and federal governments’ projects.

Panelists at UBA Africa Day Event Celebrate Continent’s Success Stories The United Bank for Africa (UBA) Plc, celebrated this year’s Africa Day in commemoration of African unity with the fourth edition of its annual UBA Africa Conversations which was held at the Tony Elumelu Amphitheater at the UBA House in Lagos, yesterday. The UBA Africa Conversations was established in May 2019 as a hallmark initiative in a series of

celebrations for Africa Day. The conversations provide a platform for African and global audiences to connect with global thought leaders both in the private and public sectors, on their African journey, in a quest to change the narrative on Africa from desolate to successful. This year’s conversation was themed ‘The importance of reflecting our African culture

in global success stories’ and underscores the tremendous shift in Africa’s cultural influence from Afrobeat to African films; Big African fashion labels and African authors; entertainment and culture. The African continent is creating positive impact globally. UBA’s Deputy Managing Director, Oliver Alawuba, who welcomed the panelists and the

guests to the event stated that as Africa’s global bank, UBA remains at the forefront of supporting businesses across the continent. He said, “It is from Africa that UBA Africa was set up. UBA has invested so much in Africa. We are in 20 African countries and 4 countries outside Africa; Our focus has always been on driving investments into Africa, through conversations such as this.

WEDNESDAY, ͺͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Can Cyriel Dessers Kill Jose Mourinho’s Joy Tonight?

DuroIkhazuagbe The first UEFA Europa Conference League final in Tirana, Albania tonight between Italian side Roma and Dutch team Feyenoord will be full of emotions for fans of Portuguese Coach, Jose Mourinho. The former Chelsea boss who at 59 has won almost everything there is to win in club football can complete a set of current UEFA club trophies if his Roma side beat Feyenoord. In addition to his many domestic

titles, Mourinho has won the UEFA Cup and UEFA Champions League in successive seasons with Porto, before clinching the 2009/10 UEFA Champions League title at Inter Milan, and the 2016/17 UEFA Europa League crown with Manchester United. And so winning this new third-tier trophy, will make mourinho, the only Coach in record books to have won all of UEFA trophies! The ‘Special One’ as the Portuguese was known before his departure from Stamford Bridge,

Uzoho Denies Super Eagles Quit Notice Super Eagles goalkeeper, Francis Uzoho, has refuted speculations in a section of the local sporting media that he was quitting the Nigerian senior national team. The lanky goal tender was pilloried by Nigerian fans who blamed him for the draw that cost the Super Eagles qualification to the 2022 FIFA World Cup in Qatar. Thomas Partey’s innocuous long range volley from outside the 22 metre box slipped through the hands of Uzoho for Ghana Black Stars opener in the crucial second leg of the final playoff with Nigeria at the MKO Abiola Stadium in Abuja. Although William Troost-Ekong equalized after Victor Osimhen was brought down in the box, the Ghanaians ran away with the World Cup ticket on the away goal rule. Most Nigerian ball fans failed

to forgive the Omonia Nicosia of Cyprus goalkeeper. Along with Maduka Okoye, the duo were trolled on the social media endlessly. One of the sports bloggers reported on Monday that Uzoho was considering quitting Eagles same way Okoye was speculated to have dumped the senior Nigerian team. Although Uzoho was not invited for the international friendlies with Mexico and Ecuador in USA this weekend, sources close to the former Under 17 World Cup winners denied he was leaving Eagles. The former Deportivo La Coruna star has however pour cold water on the speculation. “ I’m committed to playing for my dear country anytime I’m called up,”Uzoho told the Super Eagles media team yesterday.

Francis Uzoho...denies quitting Super Eagles

EUROPA CONFERENCE LEAGUE FINAL was full of emotions when in his preview of tonight’s final said: “I am a manager with history and Roma are a big club. I felt a little bit of responsibility to try and make (the first edition of the tournament) a great competition. So, little by little, we went on to achieve our ambition of going as far as possible. Then, very proudly we saw that the two semifinals were played in packed stadiums, with (a total of) 170, 000 fans in attendance.

“The Conference League is our Champions League. That's the level we're at, the competition we're playing in. The club hasn't reached (an occasion) like this for a long time,” stressed Mourinho. Roma have yet to win a major European trophy – they were European Cup runners-up in 1984 and beaten in the 1991 UEFA Cup final. However, before his dream of annexing the Europa Conference League title, Roma may need to

The 22nd edition of Milo Basketball Championship Central Conference ended at the weekend in Ilorin, Kwara State. The states that participated in the conference include; Niger, Nasarawa, Plateau and host state, Kwara. Others are Benue, Kebbi, Kaduna, Sokoto and the F.C.T (Abuja). At the end of the championship, Akpur College, Gboko, Benue State and Government Secondary School, Karu, FCT emerged champions in the girls and boys categories, respectively. In the girls’ category, Akpur

College, Gboko, Benue State defeated Queen Amina College, Sabon-Tasha, Kaduna State 35-31 to emerge champions while the boys from Government Secondary School, Karu, FCT outclassed their Father O’Conel Science College, Minna, Niger State 34-23 in a thrilling encounter. Speaking with journalists at the event, the Category Manager for Beverages, Nestlè Nigeria, Mr. Olutayo Olatunji, said that: “At Milo, we believe that through participation in sports, children learn grit and imbibe values that help them on their journey to success in life. "We are therefore committed

of victory swing at the end of regulation time this evening. Just like Mourinho, Feyenoord are also looking to complete the same set as the Portuguese: they won the UEFA Champions League trophy when it was still the European Cup in 1970, and picked up the UEFA Cup, now the UEFA Europa League, in both 1974 and 2002. The Rotterdam side would thus be the first club to have had all three of the most prestigious men's UEFA club competition trophies in their cabinet should they manage to dash Mourinho's dream.

L-R: Feyenoord Coach Arne Slot; Roma forward, Tammy Abraham, Feyenoord striker, Cyriel Dessers, and Roma Manager, Jose Mourinho ahead of tonight’s Europa Conference Final...tonight

Okpekpe 10km Road Race to Air Live on SuperSport Organisers of the Okpekpe International 10km Road Race have said that the eighth edition of the historic, World Athletics elite label event will be aired live on television across the globe come this Saturday, May 28, 2022. The Race Director, Zack Amodu, said yesterday that its broadcast partner, Supersport, the number one cable TV in Africa, will broadcast the race live. ''SuperSport has been our broadcast partner since the start of the race in 2013 and will broadcast the race live on television this Saturday,” said Amodu. Aside from fulfilling one of the key requirements of organising a World Athletics Elite Label road race, Amodu says the organisers are determined to ensure many people across the globe, especially those in the athletics family get to watch the race live because

it has become a global event. ''SuperSport has started running the promo on Supersport Blitz as one of its exciting packages sports lovers and non-sports lovers can look forward to in the month of May. “There will also be a live streaming of the race on our Facebook page. This will give many people who may not readily have access to television wherever they are all over the world the opportunity to see what is happening on the day as the race is the only one scheduled for this Saturday in the calendar of World Athletics,” added Amodu. The race director stress the focus of the entire world, especially lovers of road races will be on Okpekpe, a town in Etsako East Local Government Area of Edo State in South South

FCT, Benue Emerge Champions of 22nd Milo Basketball Conference HammedShittu inIlorin

do something to stop Nigeria and Feyenoord forward, Cyriel Dessers. The Super Eagles forward is the leading marksman on 10 goals and is hotly chased by Roma’s Tammy Abraham just one goal less. Dessers who is on loan at the Dutch club from Genk of Belgium, literarily powered Feyenoord to the final and remains very dangerous to Mourinho’s dream. Though Tammy was capped by England’s Three Lions, he has same Nigerian ancestry as Dessers. Nigerian blood runs in the veins of the top two marksmen that may decide where the pendulum

to the Milo secondary schools basketball championship in Nigeria. "We are also delighted that we are able to return the championshiop after a break caused by the COVID-19 pandemic”. While restating the commitment of Nestle to sports development, Olatunji said: “Let me use this opportunity to reiterate our commitment to developing talents, enforcing healthier lifetyle, and instilling values and lessons for success in life through this championship. "The Milo secondary schools basketball championship will continue to provide the opportunities for developing qualities including

leadership skills, ability to work in a team, perseverance, courage, self-belief, and respect in these young ones who participate. '"We are grateful to our partners– the Nigeria Schools Sports Federation (NSSF) and the National Collegiate Sports Foundation (NCSF) for their support over the last 22 editions”. Also speaking, the Chairman of the Kwara State Sports Council, Bolakale Adisa Mogaji, who was special guest at the conference said, “I am a beneficiary of MIlo sports development in Nigeria and commended Nestle for the continued sponsorship of the competition.”

Nigeria, located about 25km North East of Auchi. ''With giant telecommunications network, MTN's support for the race by, among other things optimising their network in and around Okpekpe town,

this will enable Supersport to deploy its artificial intelligence cameras to enhance the live broadcast of the event. It was one of the concerns raised and we are delighted with the coming on board of MTN,' said Amodu.

Heineken Relives UCL Glamour ahead of the Classic Final After months of exhilarating football action, global attention is now shifted towards the UEFA Champions League final between Liverpool and Real Madrid. With its ‘Cheers to all fans’ campaign, this season's Champions League more than ever has been an enjoyable one for most fans with the extra magic added by premium international beer Heineken. Through the rough roads leading to the Stade de France in Paris where Saturday's final will be taking place, many still have fond memories of the classic nights of football laced with plenty of entertainment and mouth-watering prizes all courtesy of Heineken. Aside from the unique match viewing experience enjoyed across major cities around the country, the Champions League trophy itself was brought down to Nigeria by Heineken for fans to enjoy a once in a life experience. The trophy was accompanied to Nigeria by football legend Clarence Seedorf who had a swell time with Nigerian legends Austin Jay Jay Okocha and Daniel Amokachi, the man credited with the first Champions League goal as we presently have it.

A befitting climax is understandably anticipated when the Heineken UEFA Champions League "Cheers to all fans" train will be making its final stop this Saturday during the final clash between Liverpool and Real Madrid. Senior Brand Manager, Heineken, Chinwe Greg-Egu, assured the fans and loyal consumers of another fulfilled experience as the world eagerly waits to see whether it is Liverpool or Madrid that would carry the day. “Yes, we are eagerly counting down to Saturday’s final and a lot has been put in place to make sure our loyal consumers (the ultimate champions) have another unforgettable experience with Heineken.” The magical Heineken Champions League train had visited a couple of cities; including, Enugu, Port Harcourt and Lagos in course of the season. Heineken has been a sponsor for the UEFA Champions League for over 27 years and has continued to thrill and bring football-loving consumers of the product together to enjoy live telecasts of UEFA Champions League games every season.

Wednesday, May 25, 2022

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MISSILE

Soyinka to Maqari

“Maqari has implicitly directed his followers to take laws into their own hands in the name of religion... That is the message of a supposedly holy man to a nation embroiled in this madness of multiple incidences.” – Nobel, Laureate Professor Wole Soyinka, criticising the Imam of the National Mosque, Professor Ibrahim Maqari, for his comment on the murder of a Shehu Shagari College of Education student, Deborah Samuel Yakubu.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Power of Delegates I

t is obvious from the way the presidential aspirants of the two major political parties have crisis-crossed Nigeria in the last few weeks that the elected delegates to the conventions hold some powers. The aspirants have been “meeting” the elected party delegates who would elect the flagbearers of the respective parties. Already delegates are already deciding the fate of aspirants seeking their party tickets for the legislative elections in some parties. The inexplicable omission of the statutory delegates in the Electoral Act 2022 has even made the elected delegates more “powerful,” you may say. In the absence of the “super delegates,” the elected delegates from the various constituencies can now assume all the powers to make and unmake things at the convention. Indirectly, the decision of who would be the next president actually begins with what the delegates do with their votes in determining the candidates, in the first place. As a matter of fact, in a situation in which a party is highly favoured to win the real election by a combination of factors, it is the delegates that would initiate the process of victory for its candidate. This partly explains why there is the concentration of media coverage on the primary elections of the All Progressives Congress (APC) and the Peoples Democratic Party (PDP). Since pundits do not give much premium to the possibility of a third force springing a surprise in the political landscape, the projection is that the next president will be the candidate of APC or that of the PDP. This lucky candidate will emerge at the primary election of either of the two political parties scheduled to take place in the next few days. Well, who says the pundits cannot be wrong? That is why the process of choosing the delegates ought to be imbued with greater democratic substance than what has been the culture in this dispensation. For instance, it is far from being puritanical to insist that the culture of democracy would be enhanced if the emergence of these delegates themselves is subjected to the rigor of a more credible democratic process. Although primaries are intra-party affairs, the presidential aspirants of the APC and PDP have conducted their physical and digital campaigns as if the inter-party election fixed for February next year is already on the stage. The sizes of the billboards already erected by some aspirants are as big as what they would put up if they eventually become candidates. Even non-card carrying members of the political parties are deeply involved in the campaigns towards the the primaries. So, are the delegates fully conscious of their central responsibility to deepen the democratic process with their votes? Or are the delegates wielding their enormous powers without responsibility? The answers to these questions are worth pondering as part of the thoughts about the evolution of the primary elections of parties. Increasingly party primaries have become more complex over the years with all the hiccups and controversies that could sometimes be very bitter. When the experiment with the presidential system began in 1979, there were no elaborate primaries of the parties. This was partly explained by the fact that the 1979 presidential election took place in the course of a political transition in which a military regime superintended. Perhaps it was only in the National Party of Nigeria (NPN) that a number of northern presidential aspirants emerged based on a “zoning arrangement.” Alhaji Shehu Shagari, who emerged as the candidate, eventually won the election. Not much of primaries took place before the candidates of the other parties emerged

Adamu

Ayu

as follows: Chief Obafemi Awolowo, Unity Party of Nigeria (UPN); Dr. Nnamdi Azikiwe, Nigerian Peoples Party(NPP); Alhaji Waziri Ibrahim, Greater Nigerian Peoples Party (GNPP) and Mallam Aminu Kano, People’s Redemption Party (PRP). It was, of course, understandable that the presidential tickets of the parties would be automatically available to these respective political heavyweights. Besides, the history of the formation of the parties was such that rancorous primaries were simply inconceivable. The creative method of open ballot system code-named “Option A4” was designed by the National Electoral Commission (NEC) chaired by Professor Humphrey Nwosu in the stillborn Third Republic. The process climaxed with the big primaries of the National Republic Convention (NRC) and the Social Democratic Party (SDP) with the election of their respective candidates - Alhaji Bashir Tofa and Bashorun Moshood Abiola. They both derived their mandates from the grassroots through the delegates to the national conventions. There were stages of transparent elections leading to the emergence of the delegates. The primaries of the NRC and SDP were indeed momentous events. The tone of the real elections was more or less set by the dynamics of the primaries. At the beginning of this dispensation, the primaries of the Alliance for Democracy (AD) and the PDP were conducted in different modes. The primary election of AD that took place in De Rover Hotel in Ibadan was more of a conclave. Chief Olu Falae was “elected” as the candidate, “defeating” Chief Bola Ige. The bitter memory of the controversy that was generated by that unique exercise still lingers. Two presidential aspirants - General Olusegun Obasanjo and Dr. Alex Ekwueme- polarised the PDP in the keenly contested primary election. Obasanjo emerged as the candidate. In the last 23years, eventful primaries have come to define the major parties even as new ones come on stage while some others have changed forms and nomenclatures during alignments. It may not be an exaggeration to say that warts and all the political culture of party primaries are getting more sophisticated, election after election. However, the popular perception is that delegates

often return from party conventions richer. This is, of course, one of the reasons why it is said that the current politics is too expensive for those contesting elections. It is not an as issue for only the delegates and the aspirants. It is a symptom of the structural faults in the polity and the deficit in the democratic content of the process. A lot of money is believed to be spent by aspirants in mobilising the delegates for their votes. In a light-hearted mood, Governor Nasir el-Rufai remarked the other day that “some people say that delegates may not make heaven” given the manner in which they “endorse” every aspirant that “meets” them for support during the primary election. The governor spoke when an APC presidential aspirant, Rt. Hon. Rotimi Amaechi, was introduced to the Kaduna State delegates. Although El-Rufai quickly added that the “Kaduna state delegates would make heaven,” the point is not lost on observers. The Kaduna delegates had earlier endorsed another presidential aspirant, Asiwaju Bola Tinubu, before they subsequently embraced other aspirants who also visited the state to canvass for delegates’ votes. On another occasion, former governor of Jigawa State and a notable chieftain of the PDP, Alhaji Sule Lamido, once described primary elections of political parties as “human trade fairs,” what with the humiliating manner in which the delegates are sometimes treated by agents of aspirants who act as if they have procured the delegates’ votes as commodities. In the past, some delegates “mobilised” to support an aspirant were reportedly “camped” in venues in

The process of choosing the delegates ought to be imbued with greater democratic substance than what has been the culture in this dispensation

which rival aspirants would have no access to them before voting. In some cases the handsets of the aspirants were seized to avoid communication with opponents or actions that could lead to sabotage. There have reports of other crude “strategies” by some aspirants. Nonetheless, drawing from the American experience, there is a basis for enthusiasts of liberal democracy in Nigeria to be optimistic. With time the rough edges of the process would be smoothened just as the primaries in the American presidential system have evolved. There is certainly a need for the development of the process. It is indeed an evolutionary process in historical terms. When the “direct primary” system began in Wisconsin in the United States in 1903, the idea was primarily to deepen democracy by giving the people the power to choose candidates. It was a revolt of sorts against the party apparatchik, in favour of democratic participation. The progressive elements in American politics pushed the idea of primary election on a reformist note. Left to the party bureaucracy they would rather the candidate was chosen by the caucus. The preferred candidate by the party caucus in the process was similar to what in the politics of Nigeria today is called “consensus candidate.” In fact in the early days, even non-party members could vote in the election of party candidates in the United States. It was all taken in the spirit of widening the democratic space. In fact, American political parties had what was called “closed primary election” in which black people and other minorities were excluded. Some historians describe this exclusionary process a “white primary.” So liberal democracy has not developed without some dark spots in its history. Therefore, those who are distressed about take at the “delegates market” that is a feature of the primary election today should not write off the system. With legislative and other reforms the system could be improved. Perhaps, it safe to venture a prognosis that the culture of party primaries would evolve according to the peculiarities of Nigerian political history. The fanfare, wheeling dealing and geo-political calculus are features that could be refined. For instance, while vote buying during primary election should not be rationalised the fact remains that primaries are essentially costly affairs. The important thing is to know where to draw the line between legitimate expenses for logistical purposes and the corruption of the process which, in any case, is a crime. Besides, the manner in which a party handles its primary election has immense implications for the future of the party. The outcome of the primaries would either cement the organisational cohesion of the party or cause some fissures in its ranks. This thesis will be tested by the 2022 primaries of the political parties, whether major or minor. The obvious reason, of course, is that the parties are essentially special vehicles for any aspirant seeking a ride to power. Hence political parties hold conventions to conduct primary elections because the laws compel them too so. But parties hardly hold policy conferences because there is no ideological and political compulsion to articulate party visions and strategies of development. In sum, the power of the delegates to decide the candidate of their respective parties should be exercised with a deep sense of responsibility. By their actions in the coming days, the delegates should correct the negative perception that the process of choosing a party’s candidate is a transactional one. The delegates should be conscious of the fact that they have a huge role to play in deepening democracy with their precious votes.

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