MONDAY 17TH JUNE 2024

Tinubu, Buhari, Governors Observe Eid Prayers, Implore Nigerians to Show Charity to the Vulnerable

Ex-president raises the alarm over unchecked population growth Saraki,

Elumoye, Ndubuisi

n Gombe and Hammed Shittu

in Abuja, Segun Awofadeji

L-R: Founder/President of Dangote Group, Alhaji Aliko Dangote; Minister of state for Defence, Bello Matawalle; President Bola Ahmed Tinubu, and National Security Adviser (NSA), Mallam Nuhu Ribadu, during the Eid-el- Kabir Sallah homage to the president at his residence in Lagos ... yesterday

Minimum Wage: Consider Economic Realities, Tripartite Committee Tells Organised

TUC, NLC selfish in their negotiation, says PDP chieftain

Emmanuel Addeh, Chuks Okocha in Abuja and Sylvester Idowu in Warri

The Tripartite Committee on National Minimum Wage said at the weekend that organised labour should reconsider the amount it was demanding as national minimum wage, based on current realities.

Chairman of the committee, Goni Aji, told the News Agency of Nigeria (NAN) in Abuja that labour should exercise more flexibility in its negotiation, based on current economic considerations and non-monetary incentives, which the federal government had so far provided for workers.

However, a chieftain of Peoples Democratic Party (PDP), Chief Sunny Onuesoke, berated labour, claiming Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have been selfish in their negotiation for minimum wage for workers.

Onuesoke said at the weekend in Asaba that the labour unions had

Continued on page 5

COLOURFUL EID-EL-ADHA IN ILORIN...

L-R: Senator representing Kwara Central, Turaki Saliu Mustapha; Emir of Ilorin, Dr. Ibrahim Sulu-Gambari; Kwara State Governor/Chairman, Nigeria Governors' Forum, AbdulRahman AbdulRazaq; and Mutawali of Ilorin, Dr. Alimi AbdulRazaq when the governor led dignitaries to pay homage to the Emir after the Eid-el-Adha prayer in Ilorin, Kwara State… yesterday

On Father’s Day, Tinubu, Obaseki Hail

Fathers for Their Resilience, Sacrifice

Deji Elumoye in Abuja

President Bola Tinubu and Governor Godwin Obaseki of Edo State have congratulated fathers, including all paternal figures for their contributions in shaping Nigeria's destiny by their sacrifice, forbearance, provision, protection, presence, and guidance of the young ones to the noble and true path.

Tinubu, in a statement issued yesterday on the occasion of this year's Father’s Day by his Media Adviser, Ajuri Ngelale, stressed that Father's Day was significant for its purpose as a day set apart to honour all fathers - living, deceased, and paternal figures.

Tinubu traced the history of this special day to the Middle Ages, and official roots in West Virginia, the United States, where an event

was held in 1908 to celebrate 362 men who died in an explosion at a coal mining company.

He affirmed that society is in better stead with fathers who rise to the great demand of responsibility, guiding the children through the vagaries of existence and preparing them for the future, as well as bequeathing to them pristine values that money or material comfort cannot provide, but only by personal example of discipline, integrity, service, respect, love and allegiance to the nation.

The president saluted all fathers, the sung and the unsung, who brave the toil of the day and the soreness of the night to provide for their families.

Tinubu urged fathers to stay true to their commitment to positively shape the destinies of those to

TINUBU, BUHARI, GOVERNORS OBSERVE EID PRAYERS, IMPLORE NIGERIANS TO SHOW CHARITY TO THE VULNERABLE

considering the situation of the country.

The former president also warned that uncontrolled population growth in the country should be a matter of concern to all, as it portended danger to future generations.

State governors, including Gombe State Governor Muhammadu Yahaya; Edo State Governor, Mr. Godwin Obaseki; and Kwara State Governor, AbdulRahman AbdulRazaq, prayed for Nigeria’s unity.

Similarly, former Senate President, Dr. Bukola Saraki, observed Eid prayers in Ilorin, the Kwara State capital, where he preached care for one another.

Speaking with journalists yesterday in Lagos after observing the Eid-el-Kabir prayers, Tinubu said some level of sacrifice would be required to move the country forward.

According to him, "We have been told by the Chief Imam how we can follow the path of sacrifice. The sacrifice required of a good citizen. Citizenship comes with responsibilities. As citizens, what do we need to do to be committed members of our society? Yes, that is sacrifice, loving your country, loving your neighbours; sharing what you have with each other. And to always be thankful to Almighty God."

Earlier in his sermon, Chief Imam of Lagos State, Sheikh Suleiman Oluwatoyin Abou-Nolla, who led the prayers, reiterated the need for more love, sacrifice and, care for the poor and the vulnerable.

Abou-Nolla said, "Our leaders, like the late Sir Ahmadu Bello, Abubakar Tafawa Balewa, Dr. Nnamdi Azikiwe, Moshood Kashimawo Olawale Abiola, Funmilayo Ransome -Kuti, to mention a few, sacrificed their knowledge, wealth, sweat, and even life, to the growth and development of the country we call ours today. All their activities and actions were geared towards nation-building.

"We must, therefore, ensure that their sacrifices are not in vain. It is incumbent on us to follow their footsteps to ensure that this nation, Nigeria, continues to grow in leaps and bounds."

The chief imam also urged citizens to pray that God Almighty should grant the president the strength and wisdom to deliver on his vision for a better and prosperous nation.

In his Daura hometown in Katsina State, Buhari urged Nigerians to be their bothers’ keepers.

He told journalists shortly after joining the Emir of Daura, Dr Faruk Umar Faruk, to observe the Eid prayer at Daura Eid ground, “I use

whom the future belongs.

Meanwhile, Obaseki, has also commended fathers for their enormous responsibilities in holding the society and contributing to societal growth.

The governor, in a statement to commemorate Father’s Day, said: “I celebrate fathers for their immense contributions to societal development, holding the family unit together amid the hardship occasioned by the prevailing economic realities.”

Obaseki noted: “Despite the

economic difficulties, fathers have remained strong pillars of support in the family, toiling daily to make ends meet while juggling roles such as mentor, leader, protector, provider, and breadwinner. They deserve to be celebrated.

“On this auspicious day set aside to acknowledge their gallantry, sacrifice, love, and resilience, we celebrate our fathers and assure them of our continued support to deliver on their duties on the home front with dignity, including the State’s civil and service reforms

and increase in the minimum wage to N70, 000, the highest in the country."

“While we urge them, as the family’s reflective mirrors to imbue in their children the right values and character so as to ensure peace, stability, and harmony in our society, especially amid the electioneering campaigns, we will not relent at ongoing reforms to open up the economy so that our fathers would be actively engaged and are productive. Happy Fathers’ Day!" he added. Tinubu

MINIMUM WAGE: CONSIDER ECONOMIC REALITIES, TRIPARTITE COMMITTEE TELLS ORGANISED LABOUR

ignored the effect of their wage demand on private sector workers and people in the informal sector, who he said formed the largest workforce in the country.

Aji listed government’s recent incentives for workers to include N35,000 wage award for all treasury-paid federal workers, N100 billion for the procurement of gas-fuelled busses, and conversion to gas kits.

this occasion to make an appeal to all citizens to make Nigeria self-reliant. Let us grow our own food. We have shown that we can do it. This is not the time to relent when we see prices going up.

“Let us buy what is produced in the country.

The foundation of a prosperous and stable country has been laid by successive governments, and I encourage our youth, in particular, to continue to play an active role in various nation-building efforts.

“I urge the youth of the country to seek to know about the founding fathers of the nation, the important personalities of their regions, and derive inspiration from them."

The former president also expressed concern at unchecked population expansion, saying it will bring a lot of problems to future generations.

“There is a need for greater discussion and awareness about this problem, as well as a need to invest more in education and health," he said.

Buhari further said, "Considering the situation in the country, and in the spirit of the Sallah, let us help one another and be our bothers’ keepers.

“I wish everyone a happy Sallah. May this special festival bring joy, prosperity and wonderful health to everyone."

Speaking to members of the National Youth Service Corps (NYSC), who had maintained a tradition of paying homage to him every Sallah, Buhari said, “The scheme continues to be a strong fabric holding the country together and I will want successive administrations to continue to strengthen it.”

He described the NYSC as one of the greatest achievements of General Yakubu Gowon as Head of State.

As was his tradition annually, the former president gave a cow, 10 bags of rice, and some cash to the NYSC members to celebrate Sallah.

In Ilorin, Saraki urged everyone to remember the less-privileged and extend a helping hand to those in need by sharing blessings through charity or simple acts of kindness. He stated this yesterday shortly after observing the two rakats prayers at Ilorin central praying ground to mark the of Eid-El Kabir celebration.

He prayed to Allah to guide the country's leaders with wisdom and compassion to make decisions that will bring prosperity, peace, and development to the people.

AbdulRazaq also urged Nigerians to continue to pray for the unity, peace. and progress of the country. The governor spoke in Ilorin

He stated that the others were N125 billion conditional grant, financial inclusion to small and medium scale enterprises, and N25,000 each to be shared to 15 million households for three months.

According to him, the N185 billion palliative loans to states to cushion the effects of fuel subsidy removal and the N200 billion to support the cultivation of hectares of land to boost food production, should also be taken into consideration by organised labour.

The tripartite committee chairman said there was another N75 billion to strengthen the manufacturing sector and N1 trillion student loans for higher education. He also cited the release of 42,000 metric tonnes of grains from strategic reserves and the purchase and distribution of 60,000 metric tonnes of rice to the millers’ association.

Aji urged organised labour to consider the recent salary increase of 25 per cent and 35 per cent on all consolidated salary structures for federal workers and the 90 per cent

subsidy on health costs for federal civil servants registered on the health insurance programme and accept the N62,000 being offered by the federal government.

He maintained that the light rail commissioned in Abuja was to relieve transportation costs until the end of the year, stating that it is a landmark achievement that would cushion the effect of the removal of fuel subsidy.

Aji said in addition to “the freedom of civil servants to engage in agriculture, the federal government has approved the inclusion of ICT services for alternate sources of income”.

He said the committee agreed that where major and small businesses were closing down with the consequent loss of jobs, the outcome of a new minimum wage should be such that it would not trigger further massive job losses.

He further said linking the strike due to electricity hikes with the wage determination was not fair to the negotiating parties.

Organised labour had demanded N250,000 as minimum wage per month. However, the federal government and Organised Private Sector (OPS) offered N62,000 per month.

Labour also faulted a recent statement by President Bola Tinubu during a meeting with some governors and members of the National Assembly on the occasion of the country's 25th Democracy Day anniversary. Tinubu

had said the government would only be able to pay its workers what the country could afford.

The president said, “Senate President, Deputy Senate President, you will get a notice from me if I have changed my mind on minimum wage. We are going to do it — what Nigeria can afford, what you can afford, what I can afford. They ask you to cut your coat according to your size if you have size at all.”

Organised labour began the minimum wage negotiation with a demand for over N615,000, which it later slashed to N250,000. But the federal government initially said it could only pay N48,000, an amount that was increased to N62,000, and now awaiting presidential decision.

Onuesoke accused labour of selfishness in their negotiation for minimum wage for workers.

The former Delta State governorship aspirant told journalists that organised labour had engaged in reckless agitation by trying to force the federal government to succumb to their terms.

He alleged that organised labour acted like politicians, stressing that their obnoxious demand would hurt the common man, who does not earn a salary or wage, and those in the private sector, including traders, artisans, and those in the rural areas, which constitute the largest labour force in the country.

Onuesoke stated that labour should review their demand by considering the plight of the larger percentage of

Nigerians who were not on the payroll of government. He said this percentage constituted the largest population of the workforce in Nigeria compared to those working for the government, who were less than one per cent of the entire Nigerian population. The PDP chieftain stated that organised labour should have focused their agitation on how the federal government could reduce inflation and the prices of goods and services. Onuesoke stated, “TUC and NLC are selfish. They are the same thing with the political leadership. They are agitating for the increment of their wage. What happens to the private sector, the traders, artisans and even the unemployed Nigerians roaming our streets? Who is going to increase their wages? They forget that once there is wage increase there will be hyperinflation.

“Why are they agitating for themselves salary increment, like the way our lawmakers are agitating for their own salaries and allowances increase? How many salary increases did they agitate for traders, private sector, artisans and the unemployed among others?

“I expected them to agitate on how the federal government can reduce inflation or how the prices of goods and services should be reduced, instead of agitating for wage increment for themselves alone at the expense of the larger population of Nigerians.”

KPMG: NIGERIA MUST JOIN INTERNATIONAL MINING BODIES TO ATTRACT FDI TO ITS OVER 44 SOLID MINERALS

advisory firm, KPMG, has stated that to fully attract Foreign Direct Investment (FDI) into Nigeria’s over 44 solid minerals scattered in over 500 locations nationwide, the country, through its agencies, must sign up for relevant international mining organisations.

In its June report on the country’s solid minerals sector, KPMG stated that based on its mineral wealth, Nigeria should naturally be a preferred mining destination for many multinationals.

The firm listed Nigeria’s mineral deposits to include, but not limited to, gold, barite, bentonite, limestone, coal, bitumen, iron ore, tantalite/ columbite, lead/zinc, gemstones, granite, marble, gypsum, talc, iron ore, lead, lithium, nickel, and silver.

However, it noted that considering the myriads of challenges plaguing the sector, the country has not been very successful in attracting and retaining the much-needed foreign participation and/ or investments.

“Therefore, in addition to its continuing efforts to mitigate the identified domestic challenges and to improve the ease of doing business in Nigeria, the federal government (through the relevant ministries or key mining associations) should consider becoming a member of renowned international mining organisations.

“They include: The Committee for Mineral Reserves International Reporting Standards (CRIRSCO), the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), and the International Council of

Mining and Metals (ICMM) amongst others,” it stressed.

KPMG argued that membership and affiliations with such globally renowned mining organisations confer several benefits to Nigeria and mining stakeholders, and has the potential to put the country in a pole position to attract FDIs.

“Some of the other benefits include the following: Validating the veracity and existence of acclaimed mineral deposits, especially of critical metals, earning and maintaining global trust by promoting high standards of reporting of identified mineral estimates and strengthening the social and environmental performance of the mining sector, in view of the increasing ESG-investment considerations.

“(They also include): Building recognition of the mining sector contribution to local communities and society at large and strengthening laws and policies to achieve short and long-term sustainable development goals,” it added.

Given what it described as the recent strides and advancements recorded in the Nigerian mining sector, the country, it said can maximise its potential by sending positive signals of readiness for business to the global community.

Such signals, the firm said, are energised by certifications obtained from and/or membership of such organisations, which can strengthen investor confidence and make the country the preferred investment destination for mining majors.

As of May 2024, KPMG stated that a total of 7,182 companies and

individuals were licensed to operate in the upstream subsector, including exploration, mining lease, quarrying lease and small scale mining licence.

It listed some of the challenges in the sector to include the lack of critical infrastructure, particularly adequate electricity supply and access roads to sites of mineral deposits as well as limited geoscience data and information.

“A major issue facing the sector is the apparent lack of adequate, accessible and reliable geological data on available mineral resources and their locations which affects the sector's ability to attract investors.

“Every investor requires access to credible data to facilitate investment decision making. Most of the available geological/ geoscience data are dated. This raises questions about the credibility of the resource information and impacts the bankability of mining projects,” it stressed.

However, it said that the federal government in May 2024, through the office of the Nigerian Geological Survey Agency introduced the Nigerian Mineral Resources Decision Support System (NMRDSS), a web-based application that provides read-only access to geo-scientific and geo-economic data of Nigeria.

Another issue hobbling the growth of the sector, KPMG said, is insecurity, stressing that although a number of the mineral rich communities in the Northern region of Nigeria have now been liberated from the occupation of terrorist groups, communal and religious conflicts occur

intermittently in the middle belt region of Nigeria, which is known to be rich in minerals and metals. It said that the recent operations of the Mines Surveillance Task Team to tackle the challenges of illegal mining and the recent inauguration of the Transport and Mining Marshals were a right step in the right direction as it could help to foster a more secure climate for operators.

“Illegal mining activities in some of the regions pose attendant Health Safety & Environment (HSE) risks and community challenges. However, it is expected that with the strengthening of the nation's security apparatus, it will help to contain and curtail the nefarious activities of illegal miners,” the firm said. Another challenge, it said, was project funding wherein Nigeria has continued to struggle to attract the necessary investments into the sector due to a combination of factors, including but not limited to, insufficient bankable projects due to limited geoscience data about reserves, policy uncertainty, security concerns and global economic dynamics.

According to KPMG, the existing fiscal framework for investors in the mining sector is not attractive enough and does not consider the peculiar nature of the sector, particularly, its long gestation period.

“In addition, incentives for miners appear to be scattered in pieces of different and independent fiscal legislation, which urgently calls for harmonisation, to provide clarity to operators as to which should prevail,” it added.

TO THE

$4.3bn

NLNG Train-7 Project Reaches

Nigerians Employed

67% Completion, over 9,000

Company reaffirms commitment to deliver benefits to citizens

Peter Uzoho in Lagos and Sunday Aborisade in Abuja

The Nigeria Liquefied Natural Gas Limited (NLNG), yesterday, confirmed that its ongoing $4.3 billion Train-7 project had reached 67 per cent completion, and employed over 9,000 Nigerians.

NLNG stated that the plant expansion project, aimed at ramping up its production capacity to 30 million metric tons per annum (mtpa) from the current 22mtpa, had achieved a significant construction milestone of over 45 million man-hours without any Lost Time Injury (LTI).

In a statement signed by its General Manager, External Relations and Sustainable Development, Mr. Andy Odeh, the company reaffirmed its commitment to delivering

economic benefits to Nigerians through the project.

The multi-billion-dollar project at Bonny Island, the company's production location in Rivers State, was awarded to a consortium of three international Engineering, Procurement and Construction (EPC) firms, including Saipem, Chyodda and Daewoo, otherwise called the SCD consortium, led by Saipem.

NLNG said its officials, who spoke at a reconvened session of the Senate and House of Representatives Joint Committee on Gas, provided necessary information and clarifications to address issues raised by the committee.

According to the statement, "NLNG confirmed that the project, with a total contract sum of $4.3 billion, has reached an overall progress of 67 per

cent completion, achieving significant construction milestone of over 45 million man-hours without any Lost Time Injury (LTI).”

The statement said, “The project was already delivering on one of its benefits with over 9,000 Nigerians working in the project on Bonny Island, and numerous indirect jobs and businesses emerging and booming as a result of the construction."

NLNG equally emphasised that the Train-7 project was a strategic initiative that would support the diversification of the country’s revenue sources and revenue generation during the energy transition, and aid the country in achieving a net-zero future.

It stated that the project was crucial for monetising Nigeria’s vast gas resources,

estimated at over 200 Trillion Cubic Feet (tcf) of proven reserves, and it remained an inspiration to other gas development initiatives aimed at enhancing gas monetisation and utilisation in the country.

The company stressed the significance of the project to the federal government’s “Decade of Gas” initiative.

It emphasised that the project was aligned with Nigeria’s gas development aspirations, as the outlined initiative was both timely and essential to secure the country's future, particularly as the global movement towards a net-zero future accelerated.

The liquefaction firm further expressed its respect for the National Assembly and committed to collaborate with the legislature to transform

Port Harcourt Electricity Disco Vows to End Energy Theft

Rewards outstanding staff in Rivers

Port Harcourt Electricity Distribution Company (PHED) has vowed to end the incidence of energy theft within its area of coverage, namely, Akwa Ibom, Bayelsa, Cross River, and Rivers states.

In recent times, Port Harcourt Disco had faced the challenge of energy theft by electricity consumers through meter tampering, bypassing through diversion of load, and connecting directly to power lines without paying for such usage.

Speaking with THISDAY at the weekend, during a “Thank You Event”, organised by the company's management for Gamma 2 Region in Obio/ Akpor Local Government Area, Managing Director of PHED, Mrs Ochuko Amah, said a new strategy would be adopted to clampdown on electricity theft.

Amah, who stated the recent achievements recorded by the

Disco, said with continuous engagement with customers and other stakeholders, the menace will be tackled.

The chief executive officer also revealed that the company in tackling energy theft planned to deploy smart meters to various places, and relocate some of the meters to frustrate the gains of the perpetrators.

"My customers are my major stakeholders, and we will make sure that every customer feels excellent, ensure that at the end of the day we will be able to give 24/7 to all our customers.

"We are going to deploy smart meters to various places, relocate some of our meters and continue to engage our customers and campaign against energy theft, believing that in a short time there will be nothing like energy theft," she added.

Meanwhile, the PHED management has also recognised and awarded outstanding staff for their

efforts and diligence in ensuring a steady operation of the Disco in the four states

Speaking on the successes recorded by the staff of the company, Amah said: "Basically, we are trying to acknowledge and celebrate a region that is outstanding and let other regions know that it is not about work all the way, when you work hard and show to the company that you have integrity it will earn a special recognition.

"They have shown they can do beyond. They started with 57 per cent collection efficiency, but as at today, they are doing over 90 per cent. I think it is worth the while to recognise regions like this and to encourage other regions that when you work hard, the company will always recognise you".

Amah continued: "The target of the team, is to ensure that PHED becomes very profitable. We have been seen as a Disco in a

very difficult terrain, but we want to tell the world that no matter how difficult it is, once you have the right people in the right places, you will be able to make it.

"We are taking Port Harcourt Disco to below 25 per cent which is a benchmark in the industry, so my team and I, are moving strategically and in the next six months we should be able to hit 25 per cent Aggregate Technical Commercial and Collections Losses (ATC&C), which makes the company very profitable".

To the awardees, she said they had shown good faith, adding that beyond giving them presents and cash gifts, the company planned special gifts for them.

One of the awardees who was also given a cash gift of N100,000 as the most outstanding distribution transformer executive in the month of May, Emeh Prayer, thanked the PHED management team for the encouragement and pledged to work harder.

Nigeria's energy landscape. It called on all stakeholders, including the federal government and all wellmeaning Nigerians, to support the preservation of an enabling environment for successful

completion and attraction of more transformational projects to Nigeria.

The joint National Assembly panel had urged NLNG to ensure the completion of the project on schedule.

FCT Flags Off Initiative to Curb Infant Maternal Deaths

Onyebuchi Ezigbo in Abuja

The Federal Capital Territory (FCT) at the weekend commenced a medical outreach programme to promote maternal and infant health in Abuja.

As part of incentives to encourage pregnant women to patronise health centres, the Office of the FCTA Mandate Secretary distributed about 500 (5kg) gas cylinders to the women.

The initiative tagged: "Renewed Hope Free Medical Outreach" aims to restore faith in the healthcare system by providing comprehensive and free health services at the grassroots level as no fewer than 500 cooking gas cylinders was distributed to promote healthy cooking and clean air.

The initiative which was launched at the Primary Healthcare Centre in Kuje Area Council yesterday seeks to enrol pregnant and nursing mothers into the FCT free health insurance Scheme in order to tackle the alarming maternal and infant mortality.

The Minister of State for FCT, Dr. Mariya Mahmoud, who was represented by the Mandate Secretary for Health Services and Environment Secretariat, (HSHS), Dr. Adedolapo Fasawe, said the programme offers free healthcare services, including prenatal, and post-natal care.

She said: "The outreach provides free care for one year, covering surgeries and accidents, and is open to vulnerable groups, including pregnant women and children.

"The health insurance programme is also available for families at an affordable rate of N12,500 with the option to pay in instalments.

“Over 1,000 residents benefited from various free health services and the outreach services would extend beyond the event to all healthcare facilities in Abuja’s rural areas."

Speaking further Fasawe said: "Today, we have six different departments: antenatal care for pregnant women, general outpatients care, paediatrics, eye and dental care. We also have health insurance that will guarantee continued access to health services after today.

"The plan of this government is to renew hope. We have assured over 1,000 people here that our doctors and services are very fast. Nobody will leave here unattended.

“This government is leaving no one behind. We don’t care about your party affiliation, age, sex, or religion. It is renewed hope for all. The government of President Bola Tinubu is working to ensure that our health indices improve.

"It is unacceptable for a woman to die due to pregnancy or labour complications, or for a child to die needlessly. We have a food and nutrition section providing protein energy packs for children and adults, and we offer HIV/AIDS care with follow-up services.”

Permanent Secretary of the FCTA’s Health Services and Environment Secretariat, Babagana Adams assured residents of the sustainability of these quality healthcare services. He emphasised continued collaboration with relevant stakeholders to expand the outreach.

Also the Chairman of Kuje Area Council, Abdullahi Sabo, expressed gratitude for the developmental projects across the FCT and assured ongoing support for the renewed hope agenda.

TINUBU WELCOMES FBI DIRECTOR

VILLA... FBI Director, Christopher Wray and President Bola Tinubu at the State House Abuja last Friday when the FBI Director paid a courtesy visit

Blessing Ibunge in Port Harcourt

PARTNERSHIP SIGNING BETWEEN ACCESS BANK AND SCIDAR...

L–R: Technical Director/COO, Solina Centre for International Development and Research (SCIDaR), Babafemi Aina; Executive Director/CEO Solina Centre for International Development and Research (SCIDaR), Dr. Uchenna Igbokwe; Group Head, Financial Inclusion, Access Bank, Chizoba Iheme; and Area Sales Manager, Abuja and Kogi, Access Bank,

the partnership signing ceremony of Access Bank and SCIDaR to tackle financing challenges for health workers in Nigeria, held in Abuja...weekend

IEA: $240bn Required By 2030 to Fix Nigeria, Africa’s Electricity, Climate Issues

Says despite huge resources, continent gets only 3% of global energy funding

The International Energy Agency (IEA) has said that with over 600 million Africans lacking access to electricity and more than 1 billion persons cooking their meals in open fires, over $240 billion will be required by 2030 to fix the problem.

The IEA in its report at the weekend also threw its support behind the G7 initiative, which laid out key energy investments needed to achieve Africa’s energy and climate goals, and how to finance them.

Leaders of the G7, an informal association of seven of the world’s advanced economies and some of Nigeria’s biggest trading partners, had pledged a $420 million investment commitment to boost infrastructure on the continent.

The countries comprising G7 include: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union (EU).

According to the agency, meeting the growing energy demand in Africa requires a surge of spending on clean energy projects, with swift action to tackle financial barriers so investment can reach the levels that are needed.

The report: “Clean Energy

Investment for Development in Africa”, the IEA recalled, aimed to help foster a strong pipeline of bankable clean energy projects in Africa and to improve access to financing so the projects can come to fruition, with an emphasis on technical assistance and capacity building.

The IEA pledged to be the initiative’s key knowledge partner, working alongside the United Nations Development Programme (UNDP) which will focus on implementation.

Energy for Growth in Africa – which will complement existing initiatives among G7 members, including the Partnership for Global Infrastructure and Investment (PGII), Global Gateway, and Just Energy Transition Partnerships – will initially collaborate with the Republic of Congo, Côte d'Ivoire, Ethiopia, Kenya, Mozambique, Nigeria and South Africa, it said.

“Clean energy investment for development in Africa lays out the opportunities and challenges of accelerating the sustainable development of Africa’s energy infrastructure.

“Despite the continent’s immense energy resources, it currently attracts only around 3 per cent of global spending on energy. About 600 million Africans

Police to Sani: No EndSARS Protesters in Our Custody

The Nigerian Police Force (NPF), yesterday, said that the allegations credited to former Senator Shehu Sani that the police were still holding 2020 EndSARS protesters in its detention facilities across Nigeria was not only false but misleading.

A statement by Force Public Relations Officer, Olumuyiwa Adejobi, said that the police categorically denied the allegations made by Sani at the 2024 Democracy Day Dinner on June 12, 2024, at the Presidential Villa in Abuja.

It said that the former senator falsely claimed that some young people have been detained since the 2020 EndSARS protest.

"The Nigeria Police affirm that no individual is being unlawfully detained by the Nigeria Police Force or any other security agency in Nigeria due to the EndSARS protest.

“All arrested individuals have been processed according to the law, and none remain unlawfully detained. In Lagos, Governor Babajide Sanwo-Olu pardoned approximately 100 suspects arrested by the police during the protest.

"For emphasis, no one anywhere in Nigeria is under police detention or being wrongly persecuted for participating in the EndSARS protest. The issues surrounding the protest have been debated, researched, and documented, and lessons have been learnt. We have forgiven ourselves and moved on," the force spokesperson said. While urging the public to disregard this claim, Adejobi, assured citizens of police commitment to upholding justice, the rule of law, and human rights.

"We encourage verifying information before making public statements to avoid harm and incitement," Adejobi admonished influential citizens.

still lack access to electricity, and more than 1 billion cook their meals over open fires and traditional stoves using wood, charcoal, kerosene, coal or animal waste,” it added.

According to the report, meeting Africa’s rising energy needs, as well as the energy access, climate and development goals set by governments in the region, require annual energy investment to more than double to over $240 billion by 2030, with around three-quarters going to clean energy.

The report outlined key target areas for investment, including energy access, the power sector and emerging industries, such as critical minerals and the

manufacturing of clean energy technologies.

It also highlighted strategies to boost financing for energy investments in Africa, which remains difficult due to higher perceived risks and elevated borrowing costs compared with other parts of the world.

In emerging and developing economies, it maintained that the cost of capital can be two to three times higher than in advanced economies.

Besides, the report emphasised that concessional finance was therefore key, especially to unleash more funding from the private sector.

Africa’s energy systems require, on average, $30 billion

in concessional finance annually to 2030 to help realise the threefold increase in private sector investment needed over the same period, the IEA analysis pointed out.

“The lack of energy access in Africa is a great injustice, but increased spending on impactful projects could quickly turn the tide. Our new report outlines the immediate investment priorities and the financing mechanisms needed to rapidly make these projects a reality.

“We are pleased this issue is high on the G7 agenda and stand ready to work closely with our partners in Africa and beyond to turn promises into action, including through the G7’s Energy

for Growth in Africa initiative,” IEA’s Executive Director, Fatih Birol said. The IEA said it has been working on energy and climate issues in Africa for decades and now has five association countries in Africa – Egypt, Kenya, Morocco, Senegal and South Africa – and collaborates with many more on a wide range of energy issues. In May, the IEA said along with its partners, hosted the first ever high-level summit on clean cooking in Africa, mobilising $2.2 billion in financial pledges from governments and the private sector in an effort to make 2024 a turning point on clean cooking access.

FG Vows to Ensure Sustained Approach to Ogoni Clean-up

In a bid to revamp the Ogoni clean-up initiative, the federal government led by President Bola Tinubu has vowed to embark on more effective and sustainable approach to the environmental remediation and community empowerment in Ogoniland.

This is as the presidency has launched a new community engagement approach, titled "Na My Area, Na My Country" which aims to promote patriotism, community ownership, and active governance in host communities and oil spill sites.

The Senior Special Assistant to President Tinubu on Community Engagement, South-South, Gift Johnbull, said the aim of the engagement was to ensure that all stakeholders are carried along in the process of the clean-up exercise.

Speaking at a roundtable with stakeholders, held at Bori, Khana Local Government Area of Rivers State, Johnbull emphasised the need for collective effort and transparency in achieving environmental remediation and empowerment for the Ogoni people and the South-south region.

The meeting brought together stakeholders from government, oil companies, civil society organisations, community leaders, and other stakeholders to discuss and evaluate significant empowerment initiatives and environmental remediation efforts.

She said Tinubu's commitment to

community engagement and robust governance frameworks was expected to drive real change and unlock the potential of Ogoniland.

According to the presidency, the new approach priorities environmental sustainability, economic empowerment, and community wellbeing, marking a shift from superficial solutions to lasting impact.

Addressing the stakeholders, Johnbull said the president was determined to ensure that there is improved life and livelihoods in Ogoni while the clean-up is ongoing, stressing that the engagements will unravel loopholes that may need to be fixed for the success of the remediation project in the area.

"As directed by President Bola Tinubu, further consultations and engagements will be done to ensure all stakeholders are carried along in this prosperous journey of improving the life and livelihood of every Ogoni sons and daughters under the Renewed Hope Agenda.

"Our primary focus here today is on inclusion and collaboration as mandated by the President. We are here to discuss and evaluate significant empowerment initiative, such as environmental remediation and all forms of livelihood movements which will have a lasting impact on the lives of the Ogoni people," she said.

Noting that the Ogoni clean-up was launched in 2016, she stated that it marked the significant step towards

acknowledging and addressing ecological issue.

"As recommended by the president, it is crucial that we come together as diverse stakeholders, each bringing a unique perspective, expertise and resources to collaborate in ensuring that the purpose of the Ogoni clean-up is fully actualised," she noted.

Johnbull explained that "It is a platform for genuine dialogue and catalyst for change, we must look beyond mere promises, our focus must be on empowerment, environmental remediation and fostering the mindset of responsibility and ownership amongst all stakeholders.

"We will address the challenges and bottlenecks that may have hindered or slow down progress.

The President has established robust government frameworks and accountability mechanism to ensure transparency, effective report allocations and meaningful community involvement on the cleanup process".

She urged the stakeholders to collaborate to unlock the human and natural resources potential of Ogoniland while ensuring the environmental, economic security of the South-South communities and Nigeria

In his remarks, the Coordinator, Hydrocarbon Pollution Remediation Project (HYPREP), Prof Nenibarini Zabbey said since he assumed office in 2023 till date, the project had

been taken seriously, adding that it had accelerated the process of cleaning Ogoni.

Zabbey disclosed that based on the mandate, HYPREP had taken seriously the issue of remediation of portable water, livelihood, creating opportunities to the people, especially the youth and women of the Ogoni, adding that they are also strengthening health sector.

"For land remediation, at this stage we are dealing with the complex sites: those are sites that both land and ground waters are contaminated but they are far from the residential areas. There are 39 lots (contractors) handling those sites.

"HYPREP has remediated 50 lots of simple sites. In those sites, only soil are contaminated. NOSDRA has given us cleanup certification for 48 out of those 50 sites and the remaining two sites are re-categorise into middle deep sites.

"At the process we are cleaning 2000 hectares contaminated shoreline in Ogoniland and they are divided into 34 lots and they are all in Gokana.

"We have mangrove restoration sub unit. At the moment we are piloting mangrove restoration and the total are area is 560 hectares. They have been divided into nine lots and all the contractors are planting mangroves. As at today, they have planted 265,000 seedlings of mangroves," he stated.

Blessing Ibunge in Port Harcourt

Emmanuel Addeh in Abuja

Emise Nonso-Onwuanibe, at

Ikechukwu Aleke in Abuja

31ST AFREXIM BANK’S ANNUAL MEETING AT BAHA MAR CONVENTION...

Keyamo: Public, Private Partnership Key to Development of Airport Infrastructure

Secures commitment for refurbishment of old MMIA terminal

The Minister of Aviation and Aerospace Development, Festus Keyamo, has acknowledged that public, private partnerships are crucial in the sustainability and modernisation of airport infrastructure.

He disclosed that the federal government had secured commitment from several corporate bodies in the private sector that would soon embark on refurbishing the arrival and departure areas of Wing D at Murtala Mohammed International Airport (MMIA), Lagos State.

He also observed that currently there is no infrastructure ministry with the capacity to undertake large-scale projects such as maintaining airports to meet international standards; therefore, a public-private partnership is the most viable option.

“There is no ministry now that is an infrastructure ministry that has the capacity by the envelope system to develop those big projects. The envelope system means the budgeting process because we are always running a deficit budget.

“So if we’re running a deficit budget how are we going to ensure that we carry out those big projects? It’s not possible by the budgeting system. So those infrastructure ministries are FCT, Works, Housing, Blue Economy, Aviation, and maybe one or two others. Those are the infrastructure ministries.

“It is only by way of PPPs we can progress along that line, we can turn things around. So for those who complain that our infrastructure is decrepit, the airports are not as good as they should be, they don’t meet international standards, I’ve just

been eight months in office.

“There’s nobody who can build big infrastructure within even two years or three years; and that’s a fact. What you can do is to maintain what you have, make them a bit comfortable and serviceable and customer friendly while you work on the big issues,” he said.

He added: “We are looking at bringing in the private sector, which we have started doing already with the collaboration of the minister of interior, we both collaborated on that, we have changed the arrival wing, the D-wing of the International Airport.

“Shell came in and did a lot for us there, I’m sure you have seen it. That’s a beautiful entrance now into Nigeria. The wing E, that’s the arrival, we are concentrating on D and E and we are talking to one or two people now, corporate

bodies, they are just about to start their own but Shell has done their own for us.”

Keyamo stated that Wing D for both departure and arrival and the arrival of Wing-E were about starting because the departure of Wing-E had just been completed .

“So, those are the low-hanging fruits we are looking at just to turn things around. The bigger picture is that we need to turn these terminal buildings into proper hubs and that would mean a complete reconstruction of most of these international airports,” he said.

The Minister noted that for local airlines to remain commercially viable and sustainable, both the private and public sectors must collaborate to ensure that Nigerian travellers are not overly dependent on foreign airlines.

“It’s a multi-pronged approach we have on that issue (airlines)

Uzodimma Hands Over 11 Armoured Personnel Carriers, 32 Vehicles to Police

Lists gains of Muslim, Christian cohabitation

Governor Hope Uzodimma has boosted the operational readiness confidence of the police in Imo State, procuring additional 32 operations vehicles and refurbishing 11 Armoured Personnel Carriers (APCs) for the Command.

At a brief hand over of the vehicles to the police yesterday, Uzodimma said the essence was to enable the operatives "continue in their efforts towards the fight against crime and criminality and security of lives and property in the State."

A statement by the Chief Press Secretary to the governor, Oguwike Nwachuku, quoted him as saying that making security equipment and facilities functional was vital in the operations of the police.

He said government assembled all abandoned police vehicles in the command that were littered all over the state and got them refurbished for further use by the police.

The governor said he believed that the repaired APCs and other vehicles would be deployed to the field for operations as a way to support the

police in their efforts to reduce crime and criminality to the barest minimum in the society.

Receiving the APCs and other operational vehicles, the Commissioner of Police, Imo State Command, Alhaji Aboki Danjuma said that the vehicles were originally procured by the government and that the same government led by Uzodimma undertook to rehabilitate them after they got bad.

He acknowledged that they got dilapidated and damaged as a result of use over time and that a concerned Uzodimma undertook to repair them so that they can be deployed in all areas of the state for the purpose of protecting lives and property as well as fighting crime and criminality.

Danjuma affirmed that the vehicles will be deployed for the purposes they are meant for noting that "the Divisional Police Officers (DPOs) will monitor their management and use, as the vehicles will definitely be used to ensure reduction in crime rate and criminality in Imo State."

The Deputy Governor, Chinyere Ekomaru and her husband, Chukwuma, the member representing Okigwe zone in the National Assembly, Senator Patrick Ndubueze, the Chief of Staff Barr. Nnamdi Anyaehie and members of the state expanded executive council and members of the Imo State House of Assembly witnessed the handover ceremony.

Meanwhile, Uzodimma said that the benefits derivable from the cohabitation of Muslims and Christians in Imo State in particular and Nigeria in general cannot be quantified.

He spoke at the Banquet Hall of the Government House Owerri while feting Muslims in Imo State who were gladly joined by their Christian neighbours to celebrate this year's Eid- el- Kabir, otherwise called festival of sacrifice.

Also, the governor congratulated the fathers in Imo State on the occasion of this year's International Father's Day, saying their support to his government in building a virile society cannot be discountenanced.

Uzodimma said love, unity, peace, growth, development and more, will be guaranteed in the country if members of the Muslim and Christian community decide to cohabit, not just in Imo State but elsewhere in Nigeria.

He congratulated the Muslim faithful for successfully completing their fasting and for the privilege of being alive to witness the 2024 Festival of Sacrifice ( Eid- el-Kabir), urging them to wear tolerance like a cloth.

In calling for continuous unity among members of the Muslim community and by extension, their cohabitation with other religious faiths, Uzodimma reminded his audience that their faiths are simply means of getting to their destination, which is God.

"We cannot grow in an atmosphere of rancour, hatred, killing, blood-letting, armed robbery and other vices which both the Koran and the Bible condemn," the governor said adding that, "tolerance is the name of the business, and with it inclusive growth and development will be achieved”.

because it’s not just one approach that will solve that problem.

One, you want to make sure they survive, they are viable commercially and then, of course, you want to ensure that the flying public also has the best deal in terms of pricing of tickets.

“Now you just mentioned one of them, to support them, make sure they survive, support their bid to get to challenge other airlines on international routes so that we don’t leave our International routes at the mercy of foreign airlines who come here to exploit our people,” Keyamo said.

He stressed that to improve the efforts of the ministry, a re-

orientation of the workers was imperative.

“For the low-hanging fruits, how do we maintain what we have seen on the ground? First of all, we are trying to change the attitude of the civil servants who are supposed to run these airports, we’re trying to change their mentality.

“I’ve said in another programme that most of them are not primed by their training, by their bicycle-like attitude, even by the motivation they give to them, the kind of salaries they receive, they’re not primed to raise their game and make these airports as customer-friendly as they should be,” he added.

Reckitt's Agbara Factory Celebrates 44 Years of Transforming Lives in Nigeria

Mary Nnah

In a grand ceremony, Reckitt's Agbara Factory marked its 44th anniversary, welcoming the company's Global CEO, Kris Licht, to Nigeria.

The event, held recently in Agbara, was attended by dignitaries, including His Excellency, President Bola Ahmed Tinubu, the deputy governor of Ogun State, Engr. Noimot Salako-Oyedele, traditional leaders, and key stakeholders from the government, private sector, and local communities.

The deputy governor of Ogun State, Engr. Noimot Salako-Oyedele, lauded Reckitt's contributions to sustainable development, job creation, and innovation, stating, "Reckitt Nigeria has been a valued partner in our journey towards economic prosperity and sustainable development. Their presence in our state has created job opportunities, fostered innovation, and contributed to the overall well-being of our citizens."

Global CEO Kris Licht commended the Agbara team for their hard work and dedication, stressing Hygiene Reckitt's commitment to doing good in the community. He shared his experience visiting a public school

where Reckitt's hygiene Quest program is implemented, witnessing firsthand the positive impact of Dettol in teaching Nigerian children essential hygiene practices.

Established in 1980, the Agbara Factory has been a game-changer in public health, producing essential hygiene products like Dettol, Harpic, Jik, and Mortein.

The factory's significant milestone was commemorated with the commissioning of the new Jik Sachet line by the deputy governor of Ogun State, Eng. Noimot Salako-Oyedele, highlighting Reckitt's unwavering commitment to providing accessible hygiene solutions for Nigerian households.

The ceremony was a testament to Reckitt's dedication to innovation, hygiene, and community development. The company's mission to create a cleaner, healthier world resonated throughout the event, with speakers praising the factory's vital role in Reckitt's success and substantial impact on public health in Nigeria and West Africa.

The 44th-anniversary celebration was a resounding success, solidifying Reckitt's position as a health, hygiene, and nutrition leader in Nigeria and beyond.

L-R: Managing Director, Niger Delta Development Commission, Dr. Sam Ogbuku; Director, Export Development, AFREXIM Bank, Oluranti Doherty; Senator Asuquo Ekpenyong; Executive Vice President, Intra-African Trade, Mrs. Kanayo Awani; Managing Director, Arise IIP Limited, Mr. Gagan Gupta; Minister of Industry, Trade and Investment, Mrs. Doris Uzoka-Anite; President, AFREXIM Bank, Prof. Benedict Oramah, and Bayelsa State Governor, Senator Douye Diri, during the signing of a cotton production agreement between the Nigerian government and Arise IIP Ltd at the 31st AFREXIM Bank’s Annual Meeting at Baha Mar Convention Centre in Nassau, The Bahamas, at the weekend

Chinedu Eze

LAUNCH OF A CASE STUDY ON STANBIC IBTC HOLDINGS...

Edo 2024: Obi’s Support Group

Vows to Back PDP’s Ighodalo

The socio-political support group, Obidients for Asue Ighodalo, has assured support for the governorship candidate of the Peoples Democratic Party (PDP) in the September 21 Governorship election, Dr. Asue Ighodalo, assuring that they will mobilise over 150,000 votes to support his election.

The group declared their support at a symposium held along Airport Road, Benin City.

The group affirmed their full support for Ighodalo, on the basis of his capacity, competence, track record, integrity, intellect and commitment to good governance.

In his welcome address, the Co-convener of Obidients for AI,

Austin Isikhuemen, expressed appreciation to members of the group in attendance, describing them as lovers of good governance.

He said the Obidients are a group of individuals that grew from supporters of former Anambra State Governor, Peter Obi, in the last presidential election, adding that they support individuals with integrity, competence and reputable character into elective offices and not political parties, as Peter Obi has categorically stated that Obidients are not domiciled in any political party.

According to him: “It was on this premise that the group Obidients for Asue Ighodalo was formed as

Licenced Customs Agents

Urge Govt to Clampdown on Illegal Activities in Onne Port

Licenced Customs agents operating at the Onne Port in Rivers State, have called on the federal government to clampdown on ongoing illegal activities at the port.

This is as the agents have lamented they are losing their importers because of the business activities of the Eastern warehouse owners in the area.

They alleged that owners of the bonded warehouses operate in connivance with some officials of Nigeria Customs Service (NCS).

The agents also claimed that owners of the warehouses use second-hand spare parts to clear goods at the Onne Port, sabotaging federal government economy through under-payment of import duties.

According to them, the Eastern bonded warehouse owners use concealment in clearing goods at the port at lower rates, thereby undermining the business relationships they have with their clients.

One of the agents, Nelson Ejiofor, who spoke with journalists at the weekend, lamented that because of the way bonded warehouse owners operate, they are using goods concealment and delivery to push them out of business.

Ejiofor lamented: "The bonded

warehouse owners are not allowing us to do our normal business. They use "used spare parts" to subvert import duties.

"Some of us are losing our clients to owners of bonded warehouses because of these their activities. It is really affecting us badly and we cannot continue this way.”

Another licenced agent, Chukwudi Okereke, agreed with Nelson's allegation, adding that it is difficult to convince an importer whose goods were cleared at sea port with low amount to give business to someone with a high amount.

He said: "As I am talking to you, I know how many millions I am losing. After you have cleared the goods at the sea port and delivered them to your clients, when you present your bill, your clients would tell you that Mr. Nwachukwu spent lower amount to clear his containers. Why is your own different?

"And, when you investigate this claim, you find out that it is true, because they (bonded warehouse owners) are using all these used spare parts to do the job. The thing is really affecting us."

The agents, however, called on relevant government authorities to investigate this allegation and nip in the bud such criminal activities going on at the Onne Sea Port.

an independent advocacy group to ensure Edo State gets the very best that can actualise its aspiration and build on the work already done by incumbent Governor Godwin Obaseki, in order not to derail the thirty-year development plan of Edo state government.

“We thought it was time to get busy and check out which of the candidate has the Obidient criteria of competence, capacity, track record, empathy for the downtrodden, intellect, integrity, being cosmopolitan in outlook, youthfulness and interest in the things that concerns the youths, education, as well as concern for diversity.

“We said by this standard, Dr. Asue Ighodalo has surpassed

those criteria we have stated. We decided there and then that for good governance to be enshrined in Edo State and to prevent regrettable regret in Edo State because of the bad practices of the old, we needed to take action and bring like minds on board.

“We believe that the right way to get good governance that will make life more liveable for us and our children and restore Nigeria's lost dignity is to get the right calibre of people into leadership positions everywhere and every time, and Dr. Asue Ighodalo is the man.

“We want an Obi in our state, an Obi-like leader with the qualities of Peter Obi that attracted millions of Nigerians to him in the last general election. That is the tsunami we must

create in Edo State.”

In his response, the PDP governorship candidate, Ighodalo, thanked members of the group, noting: “I can’t really describe how I feel. I feel overwhelmed and I feel humbled. You people have started a change in Nigeria.

“ What many of us have been saying for a long time has started. This revolution will change Nigeria. That revolution is going to be difficult, there are going to be landmines on your way, people are going to hurt you, people are going to despise you but you must truly stand for what you believe in.

“Edo State is your second true test because the core of what you stand for has been tested.

The Obidients said we stand for

fairness, equity and justice. For the first time the garden of Eden in cross temptation is being put in your way. There is a difference between Obidients and Labour and that confusion is playing out already.”

In a keynote address, Professor of Political Science, Chris Nwaokobia Jnr., said: “I have no doubt whatsoever about the candidate we are here gathered to celebrate his campaign. He is someone you can believe in.”

Other guests at the symposium included: Edo State Deputy Governor, Godwins Omobayo; Edo State Commissioner for Art and Culture, Dr. Uyi Malaika, and the Director General of the Edo State PDP Governorship Campaign Council, Hon. Matthew Idueyekemwen.

Ex-Vice President Osinbajo Stresses Gospel Principles as Key to National Prosperity

Funmi Ogundare

Former Vice President, Prof. Yemi Osinbajo, weekend, stressed the need for Christians in government to give voice to the principles of the gospel that will make the country great.

Osinbajo made this call at the inaugural Daniel Taiwo Odukoya Lecture, in Lagos, titled, 'Strengthening the Christian Voice in Government and Public Office'.

He explained that the principles of the gospel such as hard work and diligence, integrity, trustworthiness, respect for credit, respect for obligation that have made other nations great as far as their destiny is concerned, depends on how the church behaves.

"The topic assumes that if we strengthened the Christian voice in government or public office in our country, it will result in a beneficial and transformative change in our nation," he stated.

Speaking virtually, he argued that the gospel of Jesus Christ was a crucial transformative force in the social and economic development of Europe and America, but expressed concern that despite the substantial number of Christians in higher offices in Nigeria; at the federal and state

levels of government, as well as the entire government's executive, judiciary and legislature, the country has not witnessed a transformational change.

According to him, "Today what we hear from many of our pulpits is a gospel that is told to our faces of the attainment of wealth or prosperity, or physical and material wellbeing here on earth. What we hear daily is that you can become healthy and wealthy.

"The purpose of our faith is not personal wealth or wellbeing. Christ came to save sinners and we are required according to scripture to seek His kingdom first and all other things are added. Secondly, the emphasis on giving to get, never seems to worry about the source of the money that is being given. Is it stolen money?

“Is it proceeds of bribes or corrupt activity? Many of those who give their lives to Christ today, do so because they heard a sermon that promises an escape from the physical misery and difficulties of our present condition.

"But in the context of building a nation or building a business, the emphasis on just miraculous wealth or miraculous success often conflicts

with the reality that it is hard work?

It is diligence. It is building businesses or professional excellence, day by day and building block by block. That is the way to success and prosperity."

Osinbajo regretted that miraculous wealth has become the norm in Nigeria and asked, "How often do we hear our pulpits condemning bribery and corruption, and stealing of public resources? How often do those who receive money from politicians and from other sources ask the source of the money?

“So, the question is not how many Christians are in government, business or in the professions. The question is, what are they equipped with? What are the relevant principles of the gospel that they know and apply in their daily and professional or public lives?

“What standards has the church set for them? Does the church embrace a man who before entering public office was a pauper? And a few years into entering public office is giving tithes and offerings that only the wealthiest business persons can give? Does the church embrace unexplained affluence?"

The Guest speaker, Pastor Ben Akabueze stressed the need for

Christians to continue the legacy of Jesus Christ by championing policies that protect and uplift the most vulnerable members of society.

"The bible frequently addresses issues of economic justice, urging fair treatment of workers, responsible use of resources, and equitable distribution of wealth.

“In modern governance, Christians can advocate for economic policies that promote fairness, reduce inequality and ensure that the benefits of economic growth are shared widely."

Christianity's commitment to social justice and equity, he said, is integral to Jesus Christ's teachings and mission, adding that the commitment is particularly relevant in the sphere of government and public office, where decisions and policies have profound impact on society.

"Throughout the Bible, there is a recurring theme of advocacy for the poor, the marginalised and oppressed. Jesus's ministry focused on reaching out to those on the fringes of society, challenging systemic injustice, and calling for a more equitable distribution of resources and opportunities in public office," he stated.

Blessing Ibunge in Port Harcourt

L-R; Senior Manager, Brand Strategy and Communications, Stanbic IBTC, Rita Akao; Chief Executive, Stanbic IBTC Holdings, Dr. Demola Sogunle; Dean, Lagos Business School (LBS), Prof. Chris Ogbechie; Hub Head, Lagos Business School (LBS) Management Hub, Segun Jones; and Chief Marketing Officer, Lagos Business School (LBS), Nsima Ogedi-Alakwe; at the recent launch of a case study on Stanbic IBTC Holdings titled ‘Beyond the Buzzwords: Concrete sustainability measures in corporate strategy' held in Lagos...recently

BABA ALADURA IN GOVERNMENT HOUSE...

June 12: Name Aso Rock After Abiola, CDHR Writes Tinubu

Adedayo Akinwale in Abuja Committee for the Defence of Human Rights (CDHR) has called on President Bola Tinubu to name Aso Rock Presidential Villa after the acclaimed winner of the June 12, 1993 presidential election, Chief MKO Abiola. CDHR added that it was still waiting for the proper recognition of Abiola as a former president.

The group said it believed that there was nothing too much to give a man who sacrificed his life for the enthronement of democracy in the country.

CDHR National President, Debo Adeniran, made the appeals in a letter dated June 14, 2024 and addressed to Tinubu, a copy of which was made available to THISDAY yesterday.

The group said it was disappointed that after the president's speech on June 12, Abiola was not recognised as a former president. It recalled that given the importance of June 12 in the history of Nigeria, former President Muhammadu Buhari, on June 6, 2018, set the day aside as Nigeria's Democracy Day. CDHR stated, "Democracy

Day carries huge significance for many Nigerians. It was on this date in 1993 that a general election was held for the first time since the 1983 military coup, which toppled the democraticallyelected government of the late former President Shehu Shagari. Many observers have described the event as the most significant in Nigeria’s post-independence political history.

"To this end, we at the Committee for the Defence of Human Rights (CDHR) were taken aback and our hopes were dashed during and after your

Democracy Day speech. This was because we expected you to declare MKO Abiola as former president of our great country.

"The immediate past president, Buhari, has surpassed you by recognising the day and making it Democracy Day to be celebrated by all and sundry in the country.

"We expected you to go a step further by recognising him as a former president and even naming June 12, M.K.O Abiola Day to be fashioned after the famous Martin Luther King Jr. Day, which is a federal holiday

Ladoja Faults Makinde over Statement on Health Status of Olubadan-Designate

Kemi Olaitan in Ibadan

Former Governor of Oyo State and the Otun Olubadan of Ibadanland, Senator Rasheed Ladoja, yesterday faulted Governor Seyi Makinde, over his comments on the health status of the Olubadan-designate, Oba Owolabi Olakulehin.

He said Makinde was wrong for saying that Olakulehin will

be enthroned when he is fit to be Olubadan, noting that it is only the people of Ibadanland that can enthrone the Olubadan not the governor. Makinde at the state burial ceremony for the late Olubadan of Ibadanland, Oba Lekan Balogun, penultimate Saturday, had said Olakulehin will be enthroned when he is fit for the throne.

But Ladoja while speaking with journalists at his Bodija, Ibadan residence, said Makinde can only present staff of office and instrument of office to the Olubadan-designate not enthroning him.

He maintained that the role of government is just to give staff of office and instrument of office to the Olubadan-designate.

According to him: "The

governor might have access to medical records of Olakulehin's health by sending his doctors to access his health or use artificial intelligence to do that.

"I don't have any problem if the governor refuses to give him staff of office or instrument of office, but he is not the one to enthrone him. Olakulehin is an aged man, we did not expect him to still be acting like a youth."

Otti Admonishes Parents Toying with Children's Security as Police Rescue 3 Abducted Abia Siblings

Emmanuel Ugwu-Nwogo in Umuahi

Governor Alex Otti of Abia State has urged parents to stop toying with the security of their children, saying that such lapses create opportunities for child traffickers and other criminal elements to abduct children.

He gave the charge, weekend, when he received the three Abia siblings rescued by police after they were abducted and trafficked to people in different towns in Anambra and Delta States.

The three children - Gideon, 8, Divine, 6, and Israel, 4 - from Amaoba-Ime Oboro in Ikwuano Local Government Area were abducted on May 10, 2024 by a commercial cyclist who was conveying them home from school.

Otti received the children, their

parents, Mr. and Mrs. Chijioke Osinachi, and community leaders that accompanied them to his Nvosi country home in Isiala Ngwa South LGA, expressing gratitude to God and all those who worked hard to rescue the children.

He noted that the abduction of the three siblings "was avoidable" given the circumstances, hence the need for parents to be alive to their parental obligations, adding, "you should not hand over your children to people you do not know, be they keke or okada riders."

The Abia governor stressed that parents should make proper care of their children a top priority irrespective of their busy schedules.

He said: "There is nothing you're doing that is more important than looking after your children. That is my word to parents, grandparents

and everybody who has something to do with one Abia child or another.

"It is very, very important that we take their security, comfort and safety very seriously. A lot of lessons have been learnt from this and I believe we shouldn't let this kind of thing repeat itself."

Otti said that security operatives that took part in the rescue operations should endeavour to follow it through and ensure that justice was served to everyone involved in the abduction and trafficking of the children.

He stated that the government would support the rescued children in the best way it deemed fit, adding that time has come for communities to go back to the positive culture of seeing all children as belonging to everybody.

Meanwhile, the Abia State Police Command has given details of how the abducted children were rescued from different towns in Anambra and Delta States where they were trafficked.

In a press release issued weekend in Umuahia, the police public relations officer (PPRO) of the Abia Command, ASP Maureen Chinaka, said that the investigations and rescue of all the children lasted 35 days from May 10 to June 13.

She recalled that the Osinachi siblings were abducted "by an unknown cyclist", who was hired by their grandmother to take them to their home after the children had visited her.

"We are happy to announce that all the three children have been rescued and reunited with their family," the PPRO said.

in the United States observed on the third Monday of January each year.”

CDHR added, “We believe there is nothing too much to give a man who sacrificed his life for the enthronement of democracy in the country, hence, it will be more gratifying if the Aso Rock President Villa is named after him.

"We have always known you to be part and parcel of the struggle for democracy in which MKO Abiola sacrificed his life, hence, we looked up to you to complete the process of honouring Abiola by declaring him the winner of the June 12 election. This would also go a long way in healing the wounds inflicted on the people by all that happened due to the annulment of that election and the subsequent demise of Abiola

and all other patriots who lost their lives during that time.

"Your Excellency, although today we are all basking in the euphoria of a peaceful transfer of power from successive democratically-elected governments, it is not yet Uhuru. Your administration and, indeed, all Nigerians must ensure that the failed promises of June 12, such as abrogation of poverty, equity, and justice, which the enemies of democracy who ganged up and criminally annulled the elections, did not allow to materialise, are actualised under your administration.

"Economic prosperity, security, goodwill and a sense of unity that are some of the hallmarks of the June 12 struggles should be seen as the building blocks of a true and enduring democracy, which you are spearheading."

TINUBU, BUHARI, GOVERNORS OBSERVE EID PRAYERS, IMPLORE NIGERIANS TO SHOW CHARITY TO THE VULNERABLE

yesterday after observing the two rakats prayers at the Ilorin central praying ground, along Irewolede area, to mark Eid-el-Adha.

He said, "Yesterday, the Amirul Hajj for Kwara, Senator Ibrahim Yahaya Oloriegbe, reached out to me from the holy land and asked for my prayer points. I said my prayer for Nigeria is unity, peace, and progress.

"Today, my message is same: unity, peace, and progress. For those of us who have seen today, we say Alhamdulillaah. For those who have departed, we say may Allaah grant them Al-jannah Firdaus."

Yahaya called on leaders at all levels to embrace the lessons of the Eid el-Kabir festival, which symbolised sacrifice, obedience and a profound test of faith for the benefit of the people.

The governor conveyed the message during a feast with heads of government agencies at his official residence, shortly after the Eid prayer in Gombe.

Acknowledging the global and national economic challenges, Yahaya expressed confidence that Nigeria could emerge stronger if both leaders and citizens drew lessons from the festival and embraced patriotism.

Obaseki also tasked Nigerians on

perseverance, good neighbourliness, and sacrifice in pursuit of a progressive society.

The governor, in a statement to mark the Eid-el-Kabir festivities, urged the Muslim faithful to espouse these virtues, which are the hallmark of the season.

Leader of the Senate, Senator Opeyemi Bamidele, yesterday, urged Nigerians to demonstrate more patriotism and keep hope alive amid diverse strategic measures the federal government had been taking to guarantee fiscal and monetary stability.

Bamidele also pleaded with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to accept whatever the federal government offered them above N60,000 as the new minimum wage. He made the call in an Eid-elKabir message released yesterday by his Directorate of Media and Public Affairs.

Managing Director/ Chief Executive Officer of the Nigerian Electricity Management Services Agency (NEMSA), Aliyu Tukur Tahir, also felicitated the Muslim community in Nigeria on the occasion of Eid-el-Adha and prayed to Allah to bless the ummah and keep them on the path of goodness.

Edo State Governor, Mr. Godwin Obaseki (left), with the Baba Aladura of the Eternal Sacred Order of the Cherubim and Seraphim Worldwide, Dr. David Bob-Manual, during a courtesy visit, in Government House, Benin City.

deji.elumoye@thisdaylive.com

El-Rufai in the Eye of The Storm

John Shiklam writes on the report of the ad-hoc committee set up by the Kaduna state House of Assembly to investigate loans, financial transactions and contractual liabilities during the eight year administration of ex-Governor Nasir El-Rufai.

All eyes are now on Kaduna state governor, Senator Uba Sani to implement the recommendations of the state House of Assembly arising from the report of its ad-hoc committee set up to investigate loans, financial transactions and contractual liabilities under the eight year administration of his mentor and predecessor, Nasir El-Rufai.

The report indicted the former governor, some officials who served in the last administration as well as some contractors, accusing them of stealing and mismanaging the resources of the state.

The House had on April 16, 2024, set up an an Ad-hoc committee to investigate the El-Rufai administration following complaints by Governor Sani at a Town Hall meeting that he inherited huge debts and contractual liabilities which are crippling his administration.

Addressing stakeholders at the Town Hall meeting which held on March 30, 2024 in Kaduna, the governor had said the preceeding administration left huge debt burden, comprising of $587m foreign debts, N85 billion local debts and N115 billion contractual liabilities.

He also lamented that he was finding it difficult to pay salaries as the debts were being deducted from the state’s share of federal allocation.

The report of the 13-member ad-hoc committee headed by Hon. Henry Zakariya, was presented at plenary on Wednesday, June 6, 2024 and adopted by the House.

The report made startling and damning revelations about the loans, financial and contractual dealings under the El-Rufai government between May 29, 2015 to May 29, 2023.

The report declared that between May 29, 2015 and May 29, 2023, a total of N423.1 billion was allegedly looted by government officials.

The 175-page report also disclosed that many of the loans taken by the former governor did not follow due process and were not used for the purposes for which they were collected.

According to the lawmakers, some of the projects executed between 2015 and 2023 were not completed while majority were abandoned.

“The process followed in awarding some of the contracts and the level of compliance with the contractual agreement are in violation of the Kaduna State Public Procurement Law, 2016 (KADPPA Law, 2016)”, the report said.

The lawmakers noted that the major reasons for sourcing of contractors is to get the best man for the job with regards to cognate experience of tenders in related assignment, capacity, knowledge of project size, ability to deliver quality work on time and many more forms of selection of contractors.

It regretted, however, that most of the contracts awarded from 2015-2023 were awarded through single source method, which, apart from contravening the provision of the law, led to inflated contractual sums, substandard work and in some cases non-performance after collecting huge sums of money in advance as part payments.

“The resultant effect is numerous abandoned projects, liabilities, and great losses to the state,” the report said.

The report stated further that the committee established that between 1965 and 31st December, 2014, the total foreign loans as contained in the handover notes of the state was $234m before the inception of El-Rufai’s administration on May 29, 2015.

“That on 29th May, 2015 when Mallam Nasir El-Rufa’i took over the governance of the state, all domestic loans had been paid by the previous administration and therefore no liability on domestic loan was handed over to him as shown in the signed handing over notes by both outgoing and incoming governors.

According to the lawmakers, “when Mallam Nasir El-Rufa’I took over governance of Kaduna state, the mopped up cash in the state paid into the TSA amounted to N34 billion only”.

It also revealed that the total Revenue (Loans, FAAC, IGR, Grants, Refunds and Intervention) received by the Kaduna state government from 29th May, 2015 to 29th May, 2023 amounted to N1.4 trillion and $758.1 million.

The report said “through the use of unauthorised Debit cards, the Ministry of Finance in collaboration with officers of Kaduna State Internal Revenue Service (KADIRS), withdrew through third parties, the sum of N721.6m from the internally generated revenue account of the state.

The report alleged that the Ministry of Finance, in collaboration with KADIRS, siphoned the sum of N30 billion from the internally generated revenue account of the state.

The lawmakers also said the total value of contracts awarded by the El-Rufai administration from 29th May, 2015 to 29th May, 2023 amounted to N510.4

billion, saying out of this alleged amount, only N198.9 billion was paid to contractors.

The report said the committee discovered that the total contractual liabilities as at 29th May, 2023, stand at N311.4 billion and $26.2 million, respectively.

Public liability (gratuity and pension) as at 29th May, 2023 stood at N23.9 billion, while the liability of the state government to the consultants engaged between 29th May 2015 and 29th May 2023, stood at N602.02 million.

The committee also observed that the total amount of money withdrawn by the Commissioner of Finance and the Accountant General stood at N4.9 billion and $1.4 million.

The report said available evidence showed several cases of corruption in the running of the affairs of the government, ministries, departments and agencies in Kaduna state from 29th May, 2015 to 29th May, 2023.

The lawmakers recommended that those accused of corrupt practices should be investigated further by relevant security agencies.

The House noted that at the twilight of the El-Rufai administration, a N20 billion loan was taken from Zenith bank without following due process like several other loans and the IGR account was presented as security for the loan.

The report recommended that the KADIRS should withdraw the IGR account domiciled at Zenith Bank forthwith and to request the bank to refund all monies deducted on account of the purported illegal guarantee together with the accrued interest thereof.

Other recommendations by the lawmakers are:

“That, all the commissioners of Finance of the State from 29th May, 2015 to 29th May, 2023 be referred to the appropriate Law Enforcement Agencies for thorough investigation.

“That, all the Accountant Generals of the State from 29th May, 2015 to 29th May, 2023 be referred to the appropriate law enforcement agencies for investigation.

“That, the Chairmen of Kaduna State Internal Revenue Service (KADIRS) from 2018 to 2023 be referred to the appropriate law enforcement agencies for thorough investigation.

“That, the current commissioner of Finance, Kaduna state do step aside to allow for proper investigation into the activities of the Ministry from 29th May, 2015 to 29th May, 2023.

“That, the current Chairman of the State Universal Basic Education Board (SUBEB) do step aside to allow for thorough and proper investigation into the activities of the Board from 29th May, 2015 to 29th May, 2023.

“That, the current Executive Secretary of the State Pension Bureau do step aside to allow for proper investigation into the activities of the Bureau from 29th May, 2015 to 29th May, 2023”

The lawmakers further recommended “That, all the

“Observers, however, wondered why the committee did not invite the former governor to defend himself of all the allegations or hear his side of the story. It was also gathered that some individuals and contractors who were accused of corruption and asked to refund some money were not invited to defend the allegations against them. Some supporters of the former governor also wondered why Governor Sani, who facilitated the $350 million World Bank loan, was not invited before the committee. The ad-hoc committee was also accused of conducting its affairs in secrecy as the media was not invited to monitor deliberations during its sittings. Supporters of El-Rufai also alleged that the whole thing is politically motivated as some powerful people see the former governor as a threat to their 2027 ambition.”

Managing Directors of the Kaduna Market Development and Management Company Ltd from 29th May, 2015 to 29th May, 2023 be referred to the relevant Law enforcement agencies for a thorough investigation into their handling of the affairs of the company.

“That, the coordinator of the Kaduna State Government’s Irrigation Programmes for the cultivation of Wheat at Ruwan Sanyi, Kubau Local Government Area in 2016 or thereabout, be referred to the appropriate Law Enforcement Agencies for a thorough investigation.

“That, Ms. Dolapo Popoola, the immediate past Managing Director of KAPSCO whose whereabout is not known, be referred to the appropriate law enforcement agencies for investigation into her handling of the affairs of the company and for the recovery of all government properties in her possession.

“That, Mr. Muyiwa Adekeye, the Special Adviser to the governor of Kaduna State on Media and Communication from 29th May, 2015 to 29th May, 2023 be referred to the appropriate law enforcement agencies for investigation on his involvement in the contracts in Kaduna State Media Corporation (KSMC).

“That, all the Managing Directors of Kaduna Roads Agency (KADRA) from 11th October, 2017 to November, 2021 with the exception of Engineer Amina Ja’afar Ladan, who only spent a month in office, be referred to the appropriate law enforcement agencies for in-depth investigation into their roles in the award and poor execution of contracts during their tenure, while the management and senior staff of the agency be redeployed to other relevant ministries and agencies.

“That the Kaduna State Government between 2015 and 2023 engaged consultants to ensure proper execution of the contracts awarded within the period under review and liability stand at ₦ 602, 062,388.55 and the governor is hereby called upon to look into the liability.

“That, all loans (domestic and foreign) obtained by the Kaduna State Government between 29th May, 2015 to 29th May, 2023 and found by the committee to have been obtained without due process are not binding on the state and the state government should henceforth stop honouring all obligations arising from them.”

The lawmakers also recommended that 15 contractors should refund the total sum of N36.3 billion being monies paid for work either not done, overpayment or diversion.

The report also recommended “That, the unjustified cash withdrawals to the tune of N4.9 billion between 2019 to 2022 by Hon. Commissioner of Finance and the Accountant General of the State be referred to the appropriate law enforcement agencies for in-depth investigation and necessary action…

“That, the sum of N632.4 million paid to Tulip Future Associates Ltd without official engagement as consultants be recovered by the state government.

“That, the sum of N80 million paid to Edi-Jen & Co. Ltd on the 3rd of March, 2023, as imprest while he is not a government employee be recovered by the Kaduna state government.

“That, the sum of N1.4 billion which the committee found was fraudulently paid into the account of MISHA Travels Agency by the Accountant General of the State be recovered and paid into the Kaduna State Consolidated Revenue Fund Account…”

Similarly, the report recommended “That, Mr. Jimmy Lawal, Senior Adviser-Counsellor to El-Rufai from May, 29th 2015 to May 29th, 2023 who was saddled with the coordination of the activities of government ministries and agencies albeit without any constitutional role, abused the trust bestowed on him and used the opportunity to introduce dubious companies to which he secured the award of several contracts at outrageous amount and which contracts were abandoned after payment of substantial contractual sums, diversion of funds meant for execution of projects thereby defrauding the Kaduna state government, be referred to the relevant law enforcement agencies for thorough investigation and necessary action.

The report noted that ex-governor El-Rufai who was the Chief Executive Officer of the state, breached his oath of office contained in the 7th Schedule to the 1999 Constitution of the Federal Republic of Nigeria (as amended) and failed to exercise due diligence in the administration of the state thereby “plunging the state into unwarranted, unjustified and fraudulent domestic and foreign debts over and above the total loans obtained by Kaduna state from 1965 to 1999, majority of which were obtained without due process”. The report alleged that the former governor “authorised the humongous withdrawals of cash both in naira and dollars with no records of utilization and denied the state of the needed resources for development”.

El-Rufai

EFCC’s Aggressive Raid on Public Spaces as Trigger for Public Outcry

The Economic and Financial Crimes Commission’s, EFCC, ongoing crackdown on public spaces across Nigeria has sparked widespread outrage and anger, with the latest raid on Signatures Elixir Club and Shaunz Royale Club in Ondo state being the proverbial straw that broke the camel’s back. As Nigerians condemn the agency’s aggressive tactics, Sunday Ehigiator writes on the growing backlash and calls on EFCC Chairman, Olanipekun Olukoyede, to take immediate action to address the situation and restore public trust and accountability

“At about 1:30 am on Saturday, June 8, 2024, the men of the Economic and Financial Crimes Commission (EFCC) came into our premises. There were about 40 of them and they came with about 10 unregistered Toyota buses.

“The only thing that could be used to identify them was their red jackets and the guns. The introduction they gave to the security men at our gate who couldn’t identify them immediately was beatings and some of them sustained injuries in the process.

“After gaining access into our premises they rounded everybody up and instructed them to lie down on the floor. They were using snooker sticks to beat people to comply. Both male and female customers were dealt with mercilessly.

“Other members of their team went into the club and rounded everyone up and released tear gas in the process. We were lucky to have adequate first aid materials on the premises that were used by our staff to rescue some of the customers who had various forms of medical emergencies.

“While they identified some of our staff and allowed them to go, others were still beaten after identification. The CCTV engine room was completely turned upside down and the CCTV engine was taken away.

“The Ondo State chairman of the medical association was on the premises and was maltreated even after identifying himself. An international footballer, known as Tiger, who played for Super Eagles identified himself with video evidence as a footballer.

“He was arrested and only took the serious intervention of men at the gate before he was released. Yet they took away his white colour G-wagon with the customized number plate ‘Tiger’ to Ibadan and told him to come and collect it in Ibadan.

“This vehicle is still with them as we speak. Lots of phones were confiscated from people and they asked the owners to come and collect them at Ibadan. Three Laptops belonging to our DJs were taken from the DJs even with the DJ stickers on the laptops.

“A lot of damages were done to our premises and a huge loss was recorded during the period of the raid.

“We wish to make very clear that no one reserved our premises for any kind of party as we are just a business entity carrying out the business we duly registered with the government of Nigeria to do. All over the world people set aside weekends to unwind and this is exactly what was happening in our business premises.

“Finally, we wish to apologize to all our customers who witnessed this unfortunate incident and promise to lawfully engage all relevant authorities to prevent such incidents from reoccurring. This incident will not deter us from serving you better. Thank you, Signed: Signatures Elixir Management”

VICTIMS ACCOUNT

One of the victims, who preferred to remain anonymous, shared her ordeal in a post on X. She wrote: “At the EFCC office, they asked if I was associated with Yemi Fash, and I confirmed. They then asked me to write a statement, and I showed them my injuries. I mentioned that I was with my cousin Niyi, Deji Olateru-Olagbegi, and our friend Seun Alabi.

“However, they refused to let me write my statement, instead providing a generic one. They also didn’t allow me to mention the physical harm I suffered, including a dislocated bone and muscle pull. I had a visa appointment scheduled for Monday, June 10, at 10 am, which I missed due to their actions.

“They went through my phone and asked if I sold clothes, and I explained that I’m a fashion designer specializing in Agbada, Sokoto, and Buba. They mocked me, calling me an ashewo (prostitute) because I often worked with men. I provided my home address in Lagos and explained that I was in Akure for business.

“They demanded that I write down my name, age, background, and family information. One of them sneered, ‘You’re a princess? Why didn’t you identify yourself?’ I replied that they hadn’t given me the chance to speak. They intimidated me, threatening to confiscate my phone if I didn’t write what they dictated.

“I eventually returned to Lagos by 11 pm, traumatised and unable to stay in a hotel in Ibadan. The experience was worse than an accident.”

Another victim wrote, “On June 8, 2024, I had a distressing experience at Signatures. I was there with friends, celebrating one of our birthdays when the EFCC operatives stormed in. Initially, we thought they weren’t targeting us, but our relief was short-lived.

“They began beating a woman, shattering our calm and sending us into a panic. We shouted in alarm as the situation escalated “They herded us into a single room, tear-gassed us, and people started suffocating.

“Some had an asthma attack, but they showed no concern for the welfare of those affected, instead continuing to beat and confiscate our phones.

“We were held in custody for four hours, sitting on the ground like criminals. Only after they left did people rush the injured to the hospital. Our ordeal didn’t end there; on our way back from Ibadan, we were involved in an accident while trying to retrieve our phones, and we didn’t get home until 11:23 pm. It was a harrowing experience.

“My visit to the Ibadan EFCC office was equally unpleasant. Due to traffic and bad roads, I arrived at 2:00 pm. After searching us, we were made to wait for an hour before writing a statement, and another hour before being attended to.

“They thoroughly searched our phones, invading my privacy, but I couldn’t protest as I was in their office. After waiting for three hours, my phone was returned, and we left around 5:20 pm.

“Unfortunately, our tyre burst on the way back to Akure, and we were caught in the rain, arriving very late. I’m still recovering from the cold and cough I developed that day.”

A brother of another victim wrote: “Good morning, bro. I want to commend you for your efforts, especially in Akure. My sister was at Signatures on Friday when the EFCC seized her iPhone 15. She went to Ibadan yesterday, but they couldn’t locate her phone.

“She’s returning to the UK tomorrow and is unsure if she’ll ever see her phone again. To be honest, that’s not even the main reason I’m so angry. I’m fuming because the EFCC released a false statement denying everything and, worse still, they’ve destroyed someone’s business without justification.”

EFCC REACTS

Following public outcry after EFCC had earlier tagged the 127 persons it admitted arresting as “Suspected Internet Fraudsters,” the commission in another statement signed by its Head of Media and Publicity, Dele Oyewale, said, “The Operatives executed a classical sting operation at two Clubs simultaneously in Akure based on credible intelligence, leading to the arrest of the suspected fraudsters.

“The operation, in line with the established ground norm for such engagement, was devoid of any incident as the Operatives conducted themselves professionally.

“It was therefore shocking to be confronted with narratives, particularly from the social media about brutalisation, including a trending video of two ladies showing bodies lacerated by whips.

“The Commission wants the public to discountenance this video as it may have been stage-managed to achieve unclear motives. The Commission will subject this video to forensic analysis to establish its falsehood and prepare a case against the purveyors of this distasteful stunt.

“The Commission wishes to state that no suspect was assaulted, brutalised or subjected to any dehumanising treatment during the Saturday operation. It is also false that tear gas was fired at the crime scene.

“Those familiar with the Commission’s operations know that EFCC personnel do not use tear gas during sting operations. The officers that carried out the arrests neither came to the scene of crime with canister or tear gas nor whips, to inflict bodily injuries on suspects.

“It is also important to state that no damage was done to the CCTV facility at the scene of the arrest.

The device was removed by a staff of the Club at the instance of operatives of the Commission to preserve the footage for further analysis of the role of each of the arrested suspects in the alleged crime.

“Specifically, one of the arrested suspects, the manager of the Club, who confessed to the crime and directed the removal of the CCTV device for further investigative works by the Commission, is in the custody of the EFCC with the CCTV. He is assisting in the investigation of the crime.

“It is needful to state, for the umpteenth time, that the Standard Operating Procedure of the EFCC forecloses the use of brute force or unprofessional conduct in the course of any operation. The EFCC is a civilized law enforcement agency with optimal respect for human dignity and the rule of law.

“Meanwhile, profiling of suspects arrested at the scene of the crime has been completed. They will be prosecuted accordingly.”

EFCC FLOUTS BAN ON NOCTURNAL OPERATIONS

But while the commission may have issued it’s defence, what they were however silent on was why they chose to disregard the EFCC Chairman, Ola Olukoyede, November 1, 2023 directive banning nighttime sting operations across all EFCC commands.

This decision came in response to the arrest of 69 suspected internet fraudsters in Ile-Ife, Osun State, by the Ibadan zonal command.

According to a statement released by EFCC spokesperson, Dele Oyewale, the chairman’s directive aims to ensure adherence to the rule of law in the commission’s operations.

“The chairman gave the directive in Abuja on Wednesday, November 1, 2023, in reaction to the arrest of 69 suspected internet fraudsters in Ile-Ife, Osun State, by operatives of the Ibadan zonal command of the commission.

“Already, many of the suspects duly profiled by the command have been released, while profiling of suspects yet unreleased will be completed, without further delay.

“The commission wishes to assure the public that it will not relent in its adherence to the rule of law, in the exercise of its mandate,” Oyewale said.

Despite the clear directive issued by the Economic and Financial Crimes Commission (EFCC) to cease nighttime sting operations, the agency has brazenly flouted its own rule, persisting in the practice of conducting raids on public spaces under the cover of darkness.

This blatant disregard for their protocol has raised eyebrows and sparked outrage, as the commission’s actions seemingly contradict their earlier declaration.

By continuing to carry out these nocturnal raids, the EFCC has effectively rendered its ban null and void, eroding trust and fueling criticism from those who question the agency’s commitment to upholding the rule of law and respecting the rights of citizens.

The commission’s defiance of its directive has not only undermined its credibility but also perpetuated a culture of impunity, suggesting that the EFCC operates above the law and is unaccountable to the very people it purports to serve and protect.

ALLEGED SELECTIVE RAIDS BY EFCC

In an X post titled ‘EFCC is a Criminal Organisation/ Anti-South’, @PIDOMNIGERIA accused the agency of only carrying out raids in the Southern part of

the country and never in the North.

The post read, “Show me just one hotel or relaxation spot in Kano, Kaduna, Katsina, Sokoto, Jigawa, Niger, Borno, Yobe or any of the core-northern Muslim states that EFCC @officialEFCC has raided before. But it’s a daily occurrence in the southern parts of Nigeria.

“They are intentionally killing the hospitality businesses over there, and yet our leaders cannot see the handwriting on the wall.

“EFCC @officialEFCC is a criminal organization, and that is the truth. It is only a criminal that will break into your house or business by the middle of the night without any notice, and cart away your properties.

“It is only a criminal that will invade your house by the middle of the night, and first destroy your CCTV cameras, so he or she is not identified, or actions recorded. It is only criminals that will invade your home by the middle of the night and whisk you away without telling you where they are taking you, or the reason.

“Even in the US, UK, Germany etc with advanced technologies and investigative prowess, you will never see them parade 15, 20, 35, 40, 67, 90, 110, or the so-called 127 Fraudsters in one day.

“Like how on earth is that possible? How can you arrest 127 fraudsters in one day? But it’s a daily occurrence in the south, and no one is saying anything. Even in Hushpuppi and Woodberry’s case, it took the FBI almost 4 years to investigate and track them, to get undeniable evidence against them.

“But EFCC on every eke market day will parade 20, 30, 40, 50, 60, 70, from lbadan zonal command, Port Harcourt zonal command, Lagos zonal command, Enugu zonal command, Anambra zonal command etc, as if fraudsters are now like sardines flooding the streets of southern Nigeria. How on earth can they claim to have arrested 127 fraudsters in one night, in one location?

“This goes to show that what EFCC has been doing is simply raiding selected locations and arresting random people, both the guilty and innocent and then tagging them as fraudsters; snapping them together in groups, and then circulating their photos on the internet for our lazy blogger’s journalists and media houses to share without confirmation or private investigation to confirm the truth behind the story.

“EFCC will beat, intimidate, torture and force innocent people to agree or confess to be fraudsters. In most cases, they will offer you a plea bargain deal, so they can confiscate your money, property or properties that they had seized. Because they know if they charge you to court, they can’t prove any case against you, because they have no case against you.

“But because of your money and properties, they will kill your spirit by traumatizing you. They will detain you for 3 weeks or a month without taking you to court, with a daily barrage of threats.

“They will now offer you a plea bargain deal if you accept to be a fraudster and put it down in your statement. They will then charge you before a special judge, who is in bed with them, and ask the judge to temper justice with mercy with a lighter sentence, as you are a first-time offender who is now remorseful.

“The judge will grant their plea, and sentence you to one-year imprisonment, with an option of 20k, 50k, or 100k naira fine without further conditions to the bail. You can now gain your much-awaited freedom, why does EFCC confiscate your money, cars, houses or houses, jewellery, phones and laptops, in the name of forfeiting it to the federal government, it’s a lie.

“They will not remit what you forfeited, or they will underreport the actual forfeitures from you. With that, they have succeeded in rendering you useless with the name tag, ex-convict, even if you didn’t serve prison time.

“The question is, where are all the properties and monies EFCC claimed to have recovered from fraudsters? Can they be seen and verified? Can they be audited to ascertain their true figures? How do they forfeit proceeds of fraud to FG? Who receives them on FG’s behalf? What happens next?”

In fact, the EFCC’s disobedience of their ban on night raids is reminiscent of the infamous End SARS era, where Nigerian authorities similarly disregarded citizens’ rights and ignored calls for reform.

Just as the EFCC’s nocturnal raids evoke fears and memories of the brutality and intimidation tactics employed by the now-disbanded SARS unit, the commission’s defiance of its directive echoes the government’s refusal to heed the demands of End SARS protesters, who sought to end police brutality and impunity.

The parallels between these two scenarios underscore the persistent struggles with accountability, transparency, and respect for human rights in Nigeria, highlighting the need for sustained advocacy and reform efforts to ensure justice and protection for all citizens.

Online protest banner against EFCC brutality

Yobe: An Open Sesame to Industrial Revolution

Yobe is an agrarian state that has been in search of industrialisation and massive production of agricultural products in order to make live easy for its teeming population. The governor of the state may have found this in Sesame seeds and in provision of facilities, Michael Olugbode writes

Sesame is a plant in the genus Sesamum, also called simsim, benne or gingelly. Numerous wild relatives occur in Africa and a smaller number in India. It is widely naturalised in tropical regions around the world and is cultivated for its edible seeds, which grow in pods.

Sesame seeds are known as Ridi in Hausa, Yamari or Eeku in Yoruba, Mkpuru sesame in Igbo, Ishwa in Tiv. and Doo in Jukun languages. They are a good source of healthy fats, protein, B vitamins, minerals, fiber, antioxidants, and other beneficial plant compounds.

Regularly eating substantial portions of these seeds has been identified to aid blood sugar control, combat arthritis pain, and lower cholesterol. Thus, it is of great commercial value and has great potential of even growing higher as it’s demand driven by increasing craving for healthy food options and awareness of the nutritional benefits it holds.

Presently, the global sesame seeds market size is estimated at USD 7.67 billion and is expected to reach USD 8.72 billion by 2029. The market is driven by consumer preference for functional and health-based naturally derived products.

It is a widely used food product in many European countries, and the demand for sesame has grown in recent years due to the increasing interest in healthy and vegan diets. The European sesame seed market is expected to continue growing, driven by an increasing number of conventional and organic sesame market actors. Greece and Germany are the largest markets for sesame, while many other countries are catching up.

The growing demand for sesame seeds as a functional ingredient in several foods, pharmaceuticals and cosmetic industries is growing by the day and Nigeria sesame seeds producers cannot be left out of the jamboree, and with Yobe state being among the top producing states, it is no wonder the state government under the leadership of Hon. Mai Mala Buni has taken to heart encouraging the farmers of sesame seeds in the state as one of the means to recover from over a decade long insurgency.

To achieve this, the government has invested N3.5 billion on sesame processing plants in three towns in the state.

Speaking on the investment, the Yobe State Commissioner of Commerce, Hon Kaigama Umar, while taking journalists round one of the sesame seed development centre, said: “The essence of the centre is to add value to the value chain of sesame seed production. Yobe is one of the leading states that produce sesame, but our farmers are not getting value for their money. This is why this centre was established. We have three others in other parts of the state, including Potiskum, Damaturu and Nguru.”

He said: “The government is committed to

creating business friendly environment, boosting commerce and driving industrialisation, so far the government has built three ultra-modern markets in Damaturu, Nguru and Gashua to drive commerce (we awarded contract for the construction of ultra-modern markets across the state, the market has 600 shops, administrative blocks, warehouses, mosque, conveniences.”

According to residents, the markets would conveniently enhance commercial activities all over the state. One of the traders said we have a place for our businesses now, the government has done commendably well for us.

It is believed that with Yobe being one of the largest sesame seeds producers in the country, the government with has building of the sesame seeds processing plants in Machina, Damaturu and Potiskum would create job opportunities and to boost economy of state.

Umar said: “We built these plants not to only process and package the seeds produced in Yobe but we are also inviting farmers of sesame seeds across the country to take advantage of the plants here.

Some of the farmers spoken to said, these machines would greatly improve their farming, adding that they were happy to have it as it would surely encourage farmers to put more efforts into cultivating sesame seeds.

“We use to take sesame seeds to Kano and Jigawa to process, but we do not need to do this any more, with these machines here, we can process it here and the cost of transportation would be out of the door. We are surely happy about it.”

To make seamless transportation of sesame seeds and other produce within the state and to outside destinations, the Buni-led administration has constructed major link roads all over the state.

In order to equally boost the industrialisation of the state, the Airport built at over N39 billion is scheduled to be inaugurated soon and opened for commercial operations.

Speaking to journalists at the airport in Damaturu, the Managing Director of the airport, Engr. Muhammad Surajo Wakil said all that is needed to commence commercial operations was almost ready. He noted that when fully operational, the airport

will create more job to the people especially the state indigenes and contribute to the state’s economy.

In his remarks, the Permanent Secretary, Ministry of Transport and Energy, Engr. Isyaka Lawan, revealed that N39 billion was spent to execute the project since 2007. He added that the airport’s runway is probably the longest and well-constructed in the country.

He revealed that: “Ninety five per cent of the project had been completed which include a terminal building, runway, control tower, fire station, powerhouse, administrative block, and maintenance office.

“It stretches 3.3 kilometres with 250-metre buffers on either end, bringing the total length to 4.1 kilometres.”.

The permanent secretary explained that the decision to construct the cargo airport stemmed from the absence of such facilities in the North-East region.

He said: “Being an agrarian state, Yobe is expected to benefit significantly from the airport’s ability to boost economic activities. There is an abundance of exportable crops like beans, groundnut, and sesame seeds in the state.”

He, however, noted that neighboring states could utilise the airport to transport goods to other parts of the country and the rest of the world.

Speaking on opportunities opened in commerce in the state, the governor at a press conference where he was represented by the secretary to the state government, Baba Malam Wali, said: “In our continuous efforts to boost commerce and promote industrialisation, we have reactivated the Sahel Aluminum Company, Yobe Flour and Feed Mills Company and Pre-stressed Concrete Pole Company.

“We have so far completed and commissioned the Ibrahim Geidam Ultra Modern Market, Damaturu; Senator Ahmed I. Lawan Modern Market, Gashua and the Sheikh Ngibirima Ultra Modern Market, Nguru while construction works are ongoing in Geidam and Potiskum Markets.

“Furthermore, construction of Potiskum Truck Transit Park and Mega Shopping Mall in Damaturu are ongoing also. Being the State with largest production of high quality Sesame seeds, we are making efforts to complete establishment of three Sesame Seeds processing factories in Damaturu, Nguru and Machina towns.

“To further boost commercial activities, we constituted the Ease of Doing Business Council under my chairmanship and investors can now get easy access to information on our current business enabling reforms and potentialities of the State through our website http://yapppip. com/resources/.”

Now that Yobe has opened itself, it is believed that investors would move in to take advantage of the opportunities waiting to be tapped into.”

One of the Sesame Seed Development Centre

Governor Buni

Zacch Adedeji, Chairman of FIRS, is the right man for the job, reckons ALIYU

GAYA

A DIFFERENT KIND OF TAX MAN

Over dinner at the restaurant of the latest fivestar hotel in upscale Lagos penultimate Saturday, there was a pervading sense of confidence in the tax ecosystem expressed among diners, a motley crop of corporate Nigeria captains. They had broken off from their meeting at a nearby highbrow club to serenade their mortal bodies with a sumptuous dinner. And my goodness, it was worth the time.

The talk centred on Zacch Adedeji, the barely nine-month on the job Chairman of the Federal Inland Revenue Service (FIRS). At 46, Adedeji, a First Class accounting graduate of the Obafemi Awolowo University and a PhD holder to crown his scholastic pursuit, is rated as one of the best appointees of President Bola Tinubu. While a lot was said about FIRS, past and present, the industry captains praised Tinubu for head-hunting a young man who is at home with the rudiments of revenue management in the 21st century economy. Adedeji was spotlighted for a couple of innovations that he brought to bear in revenue management at his new job. He was said to have kept the books open; defined, with clarity, the rules that govern revenue collection under his watch; given a human face to matters of taxes and tax collection and shown a high sense of integrity which also governs the manner FIRS personnel now relate with tax-payers. The undeniable undertone in their discussion was that in the past, the FIRS sees every business as an entity to be taxed, but now the same revenue service approaches every business with an attitude to help the business grow, make profit and in the long run pay more tax. This is the concept in modern revenue management. The tax man has ceased to be an unfeeling, stern-face collector. Not anymore! These days, the tax man (revenue man, as they should be addressed) helps to grow the business, sustain the business and collect more revenue from the same business that would have been forced out of existence with over-bearing tax attitude.

One of the complaints of business owners in Nigeria is the knotty issue of multiple taxation. Adedeji is helping to navigate businesses out of this ‘complicated nest’, as described by one of the CEOs.

I was in the company of one of the CEOs of a major construction company in Nigeria and a huge tax payer too. We had arrived in Lagos from Abuja that afternoon for the meeting and I could notice how he was nodding in affirmation, without uttering a word, to the adjectives and kind words used to describe Adedeji. All I could take away from the conversation was that a star will always shine even in the darkest of nights. I felt a sense of pride for the FIRS chief as men older and far more experienced than him, with scars to show for their decades of entrepreneurship and hard knocks in the competitive corporate space, spoke glowingly about his exploits on the job in so short a time. All under-50s in Nigeria should be proud that one of

their own is so well-spoken of by persons who, ordinarily, should be his most acerbic antagonists and critics. The tax-man is never loved by the taxpayer, they say. But here’s Adedeji being showered with encomium by the creme de la creme in the tax-paying community.

Adedeji is already a shining star and has entrenched himself as one of the veritable arrowheads that would help President Tinubu achieve his Renewed Hope mandate. A popular African proverb says that morning shows the day. While it may yet be morning in Adedeji’s fouryear journey (which is renewable), his bold and expressive imprints these past months can only help us make the conjecture that the right man for the job is here, primed and fully prepped.

Now it shows. In first quarter (Q1) of 2024, the Service collected the sum of N3.94 trillion in tax revenue, representing a 56.7 percent jump compared to the figure recorded in the corresponding period of 2023. This is a new lease and it speaks to the leadership style of the man many address by his first name, Zacch. He is said to have no airs, not popped up by vainglory. He is said to lead from the front, a leadership template that he has effectively emplaced in the service.

Adedeji is reputed to be an unobtrusive leader. Such leaders are not overbearing. They do not lord it over you and they are not the every-moment in your face leader. They give you enough leg-room to take your own initiative and navigate through the headwinds that assail you as you execute your daily brief. This is the type of leadership that births grand results. Adedeji has established this culture of leadership at FIRS and the impact is a workplace buzzing with innovation, devotion and fresh ideas; a rare meeting of commitment and capacity.

Already, he has set a lofty target for himself and his team; to achieve a revenue target of N19.4 trillion this year. For a service that grossed about N13 trillion last year, this new target appears unrealistic. But given the interplay of the fresh zeal and dynamics that now define FIRS operations, it’s safe to believe that they will crest the target.

Staffers of the Service believe that with what Adedeji has engineered out of the old order including migrating FIRS from the drudgery of annual filing of Transfer Pricing Returns, and Country-by-Country Reporting (CbCR) notifications from e-TPPlat to the TaxPro-Max Platform, using their regular login credentials, the cup is half full, not half empty.

One of the highlights of the dinner discussion was the window Adedeji gave existing and prospective taxpayers to fulfil all pending filing obligations. That period of grace will last till about two weeks, precisely June 30. This was considered another masterstroke to help businesses grow and not to kill them.

To make the business of tax collection more people and business-friendly, FIRS under Adedeji waived the administrative penalties as spelt out in the Income Tax (Transfer Pricing) Regulations 2018 and the Income Tax (Country-by-Country) Regulations 2018. This gave a human face to the process and duty of tax collection. With such gesture, more Nigerians are brought into the tax net. But more importantly, it demonstrates that paying tax is not punitive but a duty.

Adedeji believes there is a nexus between human capital development and effective tax collection. To connect the dots and achieve his set goal of improved tax collection, he has ensured the continuous upskilling of FIRS personnel and infusion of relevant digital tools into the management of the tax value chain.

Gaya, public finance expert, writes from Abuja

KINGSLEY NDUBUEZE AYOZIE

argues for the adoption of the expansionary monetary policy model

OVERCOMING A HIGH INTEREST RATE ECONOMY

Late last month the Nigerian populace greeted with missed feelings the apex bank's (ie Central Bank of Nigeria) announcement of an upward movement in the nation's monetary policy rate (MPR) from 24.75% to 26.25% during her 295th Monetary Policy Committee (MPC) meeting that took place 20- 21 May 2024.

This high interest rate if not urgently looked into by the apex bank once again may result to serious pressure on our local currency here in Nigeria (ie naira).This pressure may further jack up the prices of basic household items like foodstuffs (garri, rice, beans, yam, etc) which the masses can not do without.

It is regrettable that the food inflation rate have soared, making the prices of food items not to be within the reach of the common man. Who amongst us in our widest imagination even envisaged that a paint of garri will be dangling between N4,000 and N 4,500; a bag of rice moving as high as N80,000; while a bag of beans soaring high to N95,000 to N110,000. Ironically a sizeable tuber of yam that

cost about N2,000 before has risen to N6,000. The issue of tomato and vegetables is something else.

On the international level, this increment in MPR may further weaken the purchasing power of the Naira and this will lead to investors' loss of confidence in doing business with us here in the country.

The increment in MPR from 24.75% to 26.25% may further lead to high level scarcity of credit (loan) facility as the common man on the street who does his daily petty trading activity may not be able to access with ease credit (loan) facility from our various financial institutions in order to assist him to do his daily yam or tomato business on our various streets.

No doubt, if there is no further credit (loan) available for the common man on the street to do his regular business, invariably that may result to multiple job losses with a resultant rise in unemployment level, and increase in social vices like armed robbery, 419 and the likes.

In simple lay man terms, any nation whose interest rate is high may witness a dwindling Gross Domestic Product ( GDP) which may further result to a decline in the consumers' confidence level, thus leading to pauses or breakdowns in our economic activities with a corresponding rise in the unemployment level as those who are of age and willing to work or do something meaningful may not see work or have the financial capability to do so .

Where these challenges abound, obviously there will be need for such an economy to be revatised or brought back to life quickly in order to avert further crisis within the country that may smell doom in the long run.

Several measures have been suggested as possible options in overcoming such economic challenges and this will include but not limited to having a strong credit facility; cutting down on unnecessary spending by consumers', having an emergency funding portfolio put in place by the government and more importantly, loosing up on the monetary policy issue otherwise referred to as expansionary monetary policy (ie EMP model ) by the CBN.

Expansionary Monetary Policy is a policy designed by the nation's apex bank that seeks to expand the money ( Naira & Kobo ) supply in our country which in turn will boost economic activities, and in addition bring about a lower interest rate that will further support borrowing by the array of individuals (common man on the street desiring to do his petty trading activities, even companies and banks within the country.)

No doubt, the EMP model takes into consideration a downward movement or reduction in a country's interest rate (MPR ) with a view to support greatly investment opportunities which is pivotal in guaranteeing economic growth and at the same time support borrowings, provide jobs and reduce unemployment drastically. By lowering a nation's interest rate (MPR), this will guarantee the principle of value for money (Economy, Efficiency & Effectiveness) on the part of the consumers or families as the case maybe and which will further spur them to action to spend, thus leading to an increase in economic activities .

As stated under the Keynes's theory, increases in governmental spending, reduction in taxes , and above all-monetary expansion ( ie EMP model ) could be used to counteract an economy whose interest rate is perceived to be very high like ours.

A well implemented monetary policy expansion (EMP) model has its attendants benefits which may include but not limited to: facilitating economic growth on daily basis as the sellers will be available to sell while the buyers will be willing to buy too. In addition, it will provide easy access to funding that can be used for investment purposes and trading activities by our business men and women within the country thus leading to a gradual reduction in the unemployment level and facilitating business activities and growth in the Nigerian job market which at the end will lead to an increase in the consumption pattern of the average Nigerian man or woman on the street.

In addition, available money supply certainly will increase economic output; boost business investment opportunities; and in all promote economic growth once more as earlier stated. Principally, the EMP model seeks to reduce interest rate from its current position to a lower rate and also increase money supply within the economy that will stimulate economic growth. In conclusion, looking at the possible benefits accruable to the EMP principle; there is no gainsaying that it is one of the veritable and trusted measures to be adopted by any nation whose interest rates is perceived to be high like ours.

Ayozie, FCA, writes from Lagos

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

THE CASE FOR ROUTINE IMMUNISATION

The authorities must do more to ensure that children are immunised and protected

Arecent warning by the United States Centre for Disease Control (USCDC) that Nigeria risks an outbreak of vaccinepreventable diseases should be taken seriously. According to the centre which has advocated urgent action to close the wide immunisation gap, Nigeria accounts for the highest-burden of unsaturated children globally, with 2.3 million zero-dose children. These are children who are yet to receive the first dose of diphtheria, tetanus, and pertussis vaccine. The USCDC report corroborates ‘The State of the World's Children 2023,’ by the United Nations Children’s Funds (UNICEF) which revealed that 2.2 million children in Nigeria have never received a vaccination. Perhaps more disturbing is that on the number of children at the risk of death and vaccinepreventable diseases, Nigeria is second only to India.

Largely responsible for interrupted childhood vaccination across the world was the Covid-19 pandemic. According to UNICEF, the intense demands on health systems, the diversions of immunisation resources, health worker shortages and stay-at-home measures all contributed to missed vaccinations. These are in addition to conflicts, climate change and vaccine hesitancy. But the challenge was more because public perception of the importance of vaccines declined and further exacerbated the persistent weaknesses in health systems and primary healthcare. “We cannot allow confidence in routine immunisations to become another victim of the pandemic. Otherwise, the next wave of deaths could be of more children with measles, diphtheria, or other preventable diseases,” UNICEF Executive Director, Catherine Russell warned. No fewer than 34 of the 54 countries in Africa experienced disease outbreaks such as measles, cholera, and poliovirus last year, according to figures from UNICEF that has warned of a ‘child survival crisis.’ In Nigeria, even if statistics are not reliable, there have been a wave of measles, cholera, and other preventable diseases. Indeed, there is a current outbreak of cholera

which has claimed many lives, and still spreading across the states.

Health officials in all parts of Nigeria need to redouble their efforts to improve the coverage level of childhood immunisation and other child survival issues that plague the Nigerian child

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, 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

Before the COVID-19 pandemic’s disruption, Nigeria was making progress, albeit slowly in childhood immunisation. Data from the Nigerian Democratic and Health Survey (NDHS) revealed that the percentage of children that have received all basic vaccinations increased from 13 per cent in 2003 to 31 per cent in 2018. Even so, Nigeria still has a lot to do to meet the Sustainable Development Goals’ target of achieving more than 90 per cent coverage of all basic vaccinations among children aged 12-23 months. Besides, the country’s childhood vaccination coverage also falls short of Global Vaccine Action Plan (GVAP) targets, making many children vulnerable to death and vaccine-preventable diseases. We understand that because of the security challenge that plagues the nation, routine immunisation, and the inability to access certain areas remains a major problem. But we encourage all critical stakeholders to rise to the challenge so that we can quickly deal with this problem. Health officials in all parts of Nigeria need to redouble their efforts to improve the coverage level of childhood immunisation and other child survival issues that plague the Nigerian child. We should mobilise the civil society, religious and traditional leaders as well as our dedicated health workers at local levels to tackle the challenge. Immunisation as a measure used to track progress towards lowering child morbidity and mortality is one of the most cost-effective public health initiatives. It is thus essential that the health authorities in Nigeria must do more to ensure that all children are immunised and protected. Government at all levels as well as other critical stakeholders must act now to ‘catch up’ with those missed vaccinations to prevent more deadly disease outbreaks. More importantly, there is an urgent need to intensify education and awareness of the deadly consequences of avoiding childhood vaccinations. Prevention, which is the whole idea of vaccination, as the old saying goes, is better than cure.

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.

PRESIDENT TINUBU, CHALLENGES AND SOLUTIONS

Like any previous government in Nigeria, President Ahmed Tinubu's administration is facing economic and political challenges. However, Tinubu's situation is unique because these problems began on the day he took office and have since ballooned beyond pundits imagination. Many pundits had high expectations that a Tinubu-led government would implement exceptional programmes that would be feasible and serve as the silver bullet for Nigeria's socioeconomic sectors. Unfortunately, these expectations have been dashed due to slow results.

Furthermore, Tinubu came to power through many thorny paths, so all eyes are on him. For some, this attention is in hopes of his success, while others are eagerly waiting to see him fail.

The All Progressives Congress (APC), Tinubu’s platform, came to power in 2015 and 2023, riding on massive support from its strongholds in the Southwest and the entire North. However, the APC and the Tinubu presidency are now facing mass dissatisfaction from these strongholds.

Tinubu's first problem is political: he has yet to consolidate his strongholds, especially in the North. President Tinubu’s method of using proxies to engage with the North is not yielding the desired results. For instance, many people who voluntarily campaigned for Tinubu in 2023 are not actively defending or promoting his programmes and projects in the North. A typical example is some

young people and the Ulamas who campaigned for the Tinubu/ Shettima ticket. However, it is fair to say that these groups cannot advocate effectively when the cost of living has skyrocketed, and most people attribute this increase to the high pump price of petroleum products and the floating of the naira. And the representation of young people in the Tinubu government is below average.

Secondly, Tinubu’s public relations and communication team is addressing the northern masses in ‘languages’ they do not understand. Meanwhile, the Southwest appears to be silently discontented.

These dual problems—economic and political in the North, and economic in the South—surprisingly have one solution: ‘cheap rice and beans on the tables of the masses’. How can Tinubu achieve this? Tinubu can leverage this farming season in the North to address nearly 80% of these issues. Because 95% of the high cost of living is food inflation.

First, the Tinubu presidency must acknowledge that the Lagos model is not working as effectively on a national scale. Tinubu's success in Lagos was evident, but its application in Nigeria is not yielding the desired results. This was apparent when the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, recently gave an interview to Seun Okinbaloye of Channels TV. The minister provided just generic answers to questions about how to

improve the livelihoods of the masses. However, he did make a significant point by stating, “The decision to remove subsidies has made it possible for Nigeria to pay its debts both to the CBN and internationally and has kept the reputation of the country intact.” Additionally, the Tinubu government’s decision to continue the social investment programme of directly paying stipends to vulnerable Nigerians and initiating the student loan scheme is commendable. However, the truth is, the subsidy removal shouldn’t have been in a haste; it should have been gradual while the government was learning and unlearning in the process. For example, the Petroleum Equalisation Fund should have been remodelled to function in the new system. The best and quickest solution for Tinubu now is for the government to declare an emergency in the current farming season by providing massive direct support to farmers in the form of fertilisers, farm implements, pesticides, and herbicides. The cost of logistics should also be reduced through interventions in the price of diesel and a healthy discussion with farm produce marketers who have a large stock of food items in their warehouse. If these measures are implemented and these players in the good produce market are reached through less political and bureaucratic channels, the price of foodstuffs and livestock will drop.

Zayyad I. Muhammad, Abuja

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

BUSINESS WORLD

AS AT Jun E 14,2024

PFAs’ Investment in FGN Bonds Hit

Kayode Tokede Pension Fund Administration (PFAs) exposure in Federal Government securities soared high to N12.4 trillion in first four months of 2024 amid attractive interest rate.

FGN Securities comprises of FG Bonds, Nigerian Treasury Bills (NTBs), Agency Bonds (NMRC), Sukuk Bonds and Green Bonds.

Data released by the National Pension Commission (PenCom) revealed that PFAs exposure in FGN Bonds opened January 2024 at N12.14 trillion, a growth of N257.14 billion to close April 2024 at N12.4 trillion.

THISDAY investigations revealed that PFAs exposure in FGN Bonds contributed 62.65 per cent of the estimated N19.79 trillion pension

funds industry portfolio as of April 2024.

The Central Bank of Nigeria (CBN) has consistently hiked interest rate amid rising inflation rate and drive to raise funds to bridge budget deficit.

The likes of Nigerian Treasury Bills in 2024 has witnessed significant patronage by investors with yield over 20 per cent on one-year auction.

Amid high demand for government securities, PFAs and investors’ subscription to NTBs increased to N23.75 trillion in the first four months of 2024, 292 per cent Year-on-Year (YoY) growth from N6.06 trillion in the first four months of 2023.

The 2024 Budget of ‘Renewed Hope’ as proposed by President Bola Tinubu outlines a total expenditure

of N27.5 trillion, with a projected revenue of N18.32 trillion and a deficit of N9.18 trillion.

Local and foreign investors seem to respond positively to the double-digit interest rates on NTBs, as seen in the robust subscription rates, suggesting confidence in the CBN’s ability to manage the country’s monetary challenges amid scarcity of foreign exchange and double-dight inflation rate.

The stop rates on NTB have surged significantly from 2.44% on a 91-day tenor bill, 4.22% on a 182-day tenor bill, and 8.3995 on a 364-day tenor bill from the first auction in January 2024 to 16.24%, 17%, and 20.70% respectively from the last auction in April 2024.

The heightened interest in the

NTBs signifies a keen PFAs and investors’ appetite for higher interest rates, providing a solid anchor for the fiscal stability of Nigeria.

Notably, the stop rate for the 364-day bill hit a high of 20.70% on the same date, reflecting tightening monetary conditions.

Specifically, NTBs in first four months of 2024 has attracted a huge subscription of approximately N22.6 trillion, with the CBN capitalising on this demand to offer and total sales of a whopping N142.16 billion N6.18 trillion, respectively.

The CBN, under Yemi Cardoso, has increased the monetary policy rate (MPR) from 18.75per cent to 26.25per cent.

The rush for FGN securities has impacted on PFAs exposure in stock

market in the period under review, dropping to N1.82 trillion as of Apriil 2024 from N1.93 trillion January 2024.

The N1.82 trillion PFAs exposure in the stock market as of April 2024 is much higher than the N1.01 trillion exposure reported by PenCom April 2023.

Capital market analysts believe PFAs are benefiting from the undervalued stocks amid weakening Naira and renewed investors’ confidence in the stock market.

They expressed that the PFAs and domestic investors reacted sharply to naira depreciation in the foreign exchange market, double-digit inflation rate, coupled with the CBN’s hike in MPR currently at 26.25 per cent.

They expressed further that the

pension industry has been recording significant growth in recent years, following several regulatory reforms by PenCom, which has seen the number of PFAs in the industry reduce as a result of some mergers and acquisitions. The pension Industry operates under stringent regulations due to the nature of handling public funds, primarily the contributions of workers meant for their retirement. The PenCom enforces guidelines and limits to ensure the safety and security of contributors’ funds as restrictions are placed on PFAs regarding the allocation of contributors’ funds into volatile assets.

A recent report on Africa Domain Name Industry, commissioned by the Internet Corporation for Assigned Names and Numbers (ICANN) in collaboration with PowerSoft Africa, has ranked Nigeria second place after South Africa in the African Domain Name Industry.

Similarly, African country code Top-level Domains Report shows 4.33 million registrations as at November 2023 and additional 1.4 million generic top level domain registrations from African entities. Covering 54 countries in Africa, the ICANN Report released by the Coalition for Digital Africa at ICANN80 in Kigali, Rwanda, showed that high Internet access costs

continue to limit widespread usage, with the average African spending about four per cent of their monthly income on 1GB of data, which is twice the global affordability target.

Also, the projected average annual overall growth in the number of domain names across the continent is 12.4 per cent, suggesting significant opportunities for local providers in individual country.

On infrastructure, the report indicates that over 1.1 million kilometres of terrestrial and submarine fibre cables interconnect the continent, enhancing cross-border communications and internet access, and a significant concentration of web content and domain hosting remains within only a few countries, underscoring the need for more

localised internet service.

The report said: “As with South Africa and Kenya, Nigeria has multiple undersea cables. The ccTLD is well run as there are now six IXPs and multiple Data Centres.

“Nigeria’s biggest advantage is its huge population and large economy. Nigeria has the highest number of Internet users on the continent. Coming in just after Kenya on the number of ccTLD domains but ahead on gTLD domains, Nigeria also has a high score from its six IXPs.”

Speaking at the unveiling of the report, ICANN’s Interim President and CEO, Sally Costerton, said report had detailed information on the growth, challenges, and opportunities within the Domain Name System (DNS) across Africa.

“Building on the initial study conducted in 2016, the recent study provides critical insights into how the landscape has evolved and where it is headed. The study is an integral part of ICANN’s commitment to support the growth and development of the Internet’s infrastructure, namely the DNS infrastructure, in a highly dynamic region. It was also created in response to a request from the African community within the context of the implementation of the ICANN Africa Regional Plan for Fiscal Years 2021-2025,” Costerton said. She added that the recommendations focused on key areas such as infrastructure development, regulatory adjustments, and capacity building, which are crucial for harnessing the

full potential of the DNS industry in Africa.

According to recent NiRA report, the .ng domain name, Nigeria’s Internet country code top- level domain (ccTLD), has crossed 215,000 registrations.

Commenting on the report, Mr. Adesola Akinsanya, President of the Nigeria Internet Registration Association (NiRA), expressed delight on Nigeria’s domain name growth trajectory.

According to him, the report is a reflection of NiRA and other stakeholders’ efforts, particularly, the registrars, towards deepening the country’s DNS industry.

“The study that was done regarding the DNS industry in Africa and I am privy to the

first edition in which Nigeria was not even in the top three. Today, we are number two in Africa. It shows that the efforts of NiRA, both past and present EBoD and the secretariat staff, alongside the registrars, our efforts are making impacts. The study also shows the commitment of the registry in making sure that the best practices in the DNS industry are followed,” Akinsanya said.

CEO of Smartweb Nigeria Limited, one of the NiRA registrars, Murtala Abdullahi, said: “The report shows increased acceptability of the .NG brand. Nigeria is privileged to have huge population with a lot of individuals and businesses showing interest in the .NG domain name.”

Emma Okonji

Obasanjo, Oduntan Advocate Policy Coherence, Single-digit Interest Loans for Farmers

Raheem Akingbolu

Former President Olusegun Obasanjo has urged the federal government to prioritise food security by offering single-digit interest loans to farmers to further open up the Agric sector for more players.

The former President, who chaired the 2024 edition of Agriconnect in Lagos recently, argued that the Agric sector stands a good chance of lifting Nigeria’s economy, arguing that “any country that offers more than a single-digit loan to people in agribusiness is not helping farmers.”

The summit, themed, “Bridging the Divide: Fostering Collaboration and Innovation for a Sustainable Agricultural Future,” underscored the urgent need for concerted efforts to address the challenges facing the agricultural industry and

to unlock its full potential.

Also, former President of Poultry Association of Nigeria (PAN), Dr. Ayoola Oduntan, who was one of the major speakers at the summit emphasised the critical need for policy coherence to enhance market access and build resilient food systems in Nigeria.

Oduntan, who is also the Managing Director of Amo Farm Sieberer Hatchery Limited, spoke during a panel discussion titled, “From Farm to Table: Enhancing Market Access and Building Resilient Food Systems.”

Oduntan addressed the challenge of inconsistent government policies hindering the advancement of agribusiness in Nigeria.

He highlighted the perpetual cycle of new policies introduced by different ministers of agriculture without adequate consideration for

the continuity of previous initiatives.

“We have all the right ideas to take the agribusiness

Raheem Akingbolu

The Advertisers Association of Nigeria (ADVAN) has won the Presidential Award of the World Federation of Advertisers (WFA).

Excited about the win, the association also unveiled a 6-Point Roadmap of its newly elected executive plans to embark on for the next two years.

Speaking on the awards at a press briefing in Lagos, the President of ADVAN, Osamede Uwubanmwen said the award is evidence of the association’s contributions to the global advertising and marketing communications landscape through its advocacy, innovative programmes, and initiatives.

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Emma Okonji

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Senior Correspondent

Raheem Akingbolu (Advertising)

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He explained that ADVAN was given a special award for seeking to tackle one of the most persistent challenges facing marketing around the world, the poor briefing that leads directly to less effective creative output. He pointed out that agencies complain that poor briefs from brands impact the outcome of their creative and campaigns so they proffer solutions to the challenge.

He said, “Our entry that won is on our training on brief writing. The reason for this is that some of the things we get as a response in marketing are that agencies always complain that the kind of briefs that advertisers send to them are the reasons they didn’t get the required result. We see brief writing and training as something we needed to do, so we gathered young brand and marketing managers, we trained them and we also gave the outstanding ones award.”

to where it should be but a major challenge has been the implementation of policies. In my over

30 years of experience in the agricultural sector, I have witnessed numerous policy shifts with each new

Minister of Agriculture. This inconsistency hampers the progress of our agribusiness,” Oduntan remarked.

Oyetola Projects Blue Economy Ministry to Achieve Top 3 Ranking on PEBEC

The Minister of Marine and Blue Economy, Adegboyega Oyetola, over the weekend in Lagos, outlined ambitious plans to elevate Nigeria’s maritime sector to global standards.

Emphasizing the sector’s critical role in economic diversification and sustainable development, Oyetola highlighted initiatives aimed at propelling Nigeria into the top ranks of the Presidential Enabling Business Environment Council (PEBEC).

He stated this while delivering his address at the BusinessDay

Maritime Conference held in Lagos.

Under his leadership, he said the ministry has prioritised strategic reforms to enhance operational efficiency and attract investments.

He said, “This includes the implementation of the National Single Window initiative and a Port Community System to automate port processes. These measures are geared towards improving Nigeria’s ease of doing business ranking and fostering a conducive environment for trade

and investment.”

Speaking on the ministry’s achievements, Oyetola reported significant progress in revenue generation, driven by innovative strategies to block revenue leakages and explore new sources within the Marine and Blue Economy sector. He underscored ongoing efforts to upgrade infrastructure, including the development of inland dry ports and modernization projects at key ports across the country. Furthermore, the minister highlighted the importance of

public-private partnerships (PPPs) in advancing port modernization, dredging activities, and deploying cutting-edge maritime technologies. He also announced plans for the development of additional deep-sea ports on a PPP basis, aiming to further bolster Nigeria’s maritime capabilities. Acknowledging the significant contributions of participants in shaping the discourse on Nigeria’s marine and blue economy, Oyetola underscored the importance of collaborative efforts in achieving excellence within the sector.

Interswitch, ACI Worldwide Harp on Digital Payment Transformation

Emma Okonji

Interswitch, in partnership with ACI Worldwide, has stressed the importance of digital payment across Africa and the roles both parties are playing in enabling digital payment transformation through their strategic partnership and innovative technologies.

The companies gave the explanation recently, hosting a high-profile customer engagement session at the Eko Hotel and Suites in Lagos.

The event focused on boosting digital payments by exploring transformative strategies and leveraging innovative solutions to enhance business development and revolutionise the payment landscape.

Founder and Group Managing Director of Interswitch Group,

Mitchell Elegbe, emphasised the significant contributions of the collaboration between Interswitch and ACI to the digital payment ecosystem in Africa.

Ccording to him, “Interswitch’s long-standing partnership with ACI Worldwide has been instrumental in advancing Nigeria’s digital payment ecosystem. This collaboration has driven significant advancements in payment technology, streamlining processes, enhancing security, and fostering economic growth while promoting financial inclusion across the country.”

Elegbe also noted that by combining ACI’s global expertise with Interswitch’s deep understanding of the local market, the partnership has consistently delivered innovative solutions tailored to the specific needs of

Nigerian businesses and consumers, transforming the nation's financial landscape.

Vice President of MEASA at ACI Worldwide, Santhosh Rao, elaborated on ACI’s vision for the African financial services sector, emphasising the company’s commitment to continuous innovation and support for business growth.

“As a global leader in missioncritical, real-time payments software, ACI is dedicated to driving transformative change and sustainable growth within the African financial sector. Our vision is to empower institutions with innovative technologies that enhance operational efficiency, deepen financial inclusion, and elevate customer experiences. Through strategic partnerships and

DBN Plants Trees to Tackle Climate Change,

As part of activities to mark the 2024 World Environment Day, Nigeria’s wholesale financial institution, the Development Bank of Nigeria (DBN) Plc said it planted over 3, 000 trees in Lagos and Abuja respectively.

This year’s theme: ‘Land Restoration, Desertification, and Drought Resilience’, guided DBN’s comprehensive initiatives aimed at addressing critical environmental challenges.

The World Environment Day is a global platform established by the United Nations to raise awareness and promote actions for the protection of environment.

In a demonstration of

environmental stewardship and corporate social responsibility, DBN’s team engaged in a collaborative effort to plant trees in two strategic locations - the Lekki Conservation Centre in Lagos and Kpeygi Speaking during the planting ceremony, Managing Director/ CEO, Development Bank of Nigeria, Dr. Tony Okpanachi, emphasised the importance of reforestation in combating desertification and promoting biodiversity.

He said: “Land restoration is crucial for maintaining ecological balance and combating the adverse effects of desertification. By planting trees, we are not only restoring the land but also ensuring a sustainable environment for future generations.

“So we are thrilled to celebrate this World Environment Day by engaging in this meaningful tree planting initiative, because at DBN, we are driven by the believe that environmental sustainability is a shared responsibility, and through initiatives like this, we are consciously contributing to the mitigation of climate change, improving air quality, and enhancing biodiversity in our communities.”

According to him, the tree planting drive underscores the bank’s broader sustainability efforts, including the integration of environmental, social, and governance (ESG) principles into its business operations. By prioritizing sustainability,

cutting-edge solutions, ACI aims to catalyse digital transformation and advance the financial landscape across Africa,” said Rao.

Managing Director of Digital Infrastructure and Managed Services (Interswitch Systegra), Jonah Adams, stressed the importance of collaboration to unlock the pan-African payments ecosystem, boosting commerce and economic development.

“It is imperative for financial players to recognize the transformative potential of key partnerships and collaboration in boosting commerce and driving economic growth across Africa. Through co-creation and collaboration, businesses can unlock new opportunities and facilitate seamless transactions that transcend borders,” Adams said.

Deforestation

In his remarks, the DirectorGeneral, Nigerian Conservation Foundation (NCF), Dr. Joseph Onoja, represented by the organisation’s Director of Business Development and Communications, Uchenna Achunine, commended the management of DBN for launching such initiative aimed at promoting a greener and sustainable environment in Nigeria.

“We are happy that DBN understands the role and importance of fostering a culture of environmental responsibility within its organisation. The tree planting project is an act of sowing the seeds for a more resilient, green future that benefits both people and the planet,” Onoja said.

Emma Okonji

L-R: Odu’a Investment Company Secretary, Mrs. Abiola Ajayi; Director, Wemabod Limited, Patrick Ajigbolamu; Director, Kehinde Akinola; Chairman of the company, Mr. Ibukun Efuntayo; Managing Director, Mr. Oluyemi Ejidiran; Director, Odu’a Investment Company Limited, Dr. Tola Kasali; Director, Wemabod, Lasisi Oluboyo; Executive Director and incoming Managing Director, Wemabod, Mr. Bashir Oladunni; Executive Director, Odu’a Investment Company Limited, Mr. Yemi Ajao and Company Secretary, Wemabod Limited, Mrs Dolapo Alabi during Wemabod’s Annual General Meeting (AGM) held in Lagos… recently

Amiwero: New Port Bill Will Foster Duplications, Create Confusion

In this interview, the President of the National Council of Managing Director of Licensed Customs Agents, the umbrella body of customs agents in Nigeria, Mr. Lucky Amiwero said the Nigerian Shipping and Port Economic Regulatory Agency Bill 2023, which has passed second reading in the House of Representatives, will create chaos in the Nigerian maritime industry if appropriate steps are not taken to bridge identified gaps. He also sheds more light on the way forward. Excerpts

You have been in the industry for a long time and participated in a series of federal government committees to reform the port. So, what will be your assessment of service delivery and efficiency with regards to regulatory agencies at the ports presently?

Well, I have served in about 168 government committees. Most of the things you see in Nigerian ports are something we advise on. We don’t just serve in committees, we go to committees to serve and think about most of the things you see today. Service deliveries in our ports have some hiccups here and there. Due to one reason or another, laws are not made, and most of the laws are duplicated. Most of the laws override each other. Most of the laws are not implementable laws.

So, when you are talking about service delivery, it must be based on procedures, what procedures are in place. For instance, customs laws are conventions. They are conventions that we entered into with various countries. It is not a domestic law. Custom law is a convention; it’s a procedural law on trade, international trade. We actually have close to 90 to 100 different types of treaties, conventions, protocols, you know, an agreement. For instance, we have two agreements that are on the pipeline. We have the trade constitution agreement, which has been signed, which actually has been incorporated in most of our laws that is new. Then we have the African Continuity Free Trade Agreement, which is going to be operational very soon.

Those are two new agreements and they are procedures. They are procedures you have to follow to implement them. You know, when you are looking at service delivery, you’re talking about facilitating trade in the past. Today, our ports are not working in tandem with international best practice. And the new bills they brought in are to duplicate and create a lot of confusion because they are not experts. You know, the shipment council is not people who are in the ports. I lecture them. I lecture from level 8 to 17 and all of them. So 8 to 14 and from 13 to 14, train some of them few times.

So when you are talking about service delivery, we have to look at the laws. For instance, the government instituted port concession that is not in the law. It’s not in the Nigerian Ports Authority (NPA) law. Look at the bill they are trying to rush through the National Assembly, it is not in the NPA law. The concession is not in the NPA law. And this present Shippers Council management is trying to go into territory they don’t understand. When you look at the Port Act, the Port Act of 1998-99 has no concession characteristic and elements. There’s no concession there.

Even the Port Bill, they had a public hearing, which was being manipulated. Are they going to pass it before the Port Act? And the Port Act is the principal Act. So, those are the issues we are talking about.

But sir, don’t you Nigerian ports are over regulated?

The problem is not overregulation. The problem is that what they’re supposed to have done that weren’t done at the ports. The challenge with the Nigerian port is that laws are not there. For instance, who takes care of the terminals? Who takes care of shipping companies? You know, those are the laws. What you have in South Africa is one single law, and you have an independent regulator that actually concentrates on the ports. But what the Shipper’ Council is trying to do is to expand its territory to railway, to inland water, to every area, to even give issue license to do so many things, which they don’t have a authorisation.

When you are talking about licensing: Why you don’t have infrastructure, how do you issue license, NPA is the one that has the infrastructure. Custom is the one that has the infrastructure. What is Shipper’ Council? They are just to protect shippers’ interests. I was a member of the Trade Advisory Committee, so I go around to do a lot of things. I should have been the one who is in support of Shippers Council. But I am a man that believes in doing the right thing. That is why we come out to say this thing; it should not be done that way.

The industry is not overregulated. That’s the point; it’s not regulated at all. Now, when you talk about the economic interest, commercial interest in the port, you don’t start to create monopoly.

Just take a look at other port regulators in the world! But what this bill has done is to expand the scope and move it to even all agencies all over the country. So, those are the areas we feel that experts should be engaged, we have experts in the country.

I trained on port concession in 1999. I started training on port concession with NPA general managers and assistant general managers. At least in the country today, I’m one of the people who can talk about concessions.

The Shippers’ Council is not supposed to be in the port. It’s not there. Yes, because the law does not allow shippers’ council to be in the port. In the Port Act, 51 of 1999 it is only the agents that are supposed to be in the port, the Customs, Nigerian Police, Immigration and that is all.

But sir, don’t you think this bill will duplicate the functions of the other regulatory agencies, especially that of the Nigerian Maritime Administration and Safety Agency?

That is what we are saying. What they are doing is that they just repeat act. They don’t repeat sections; they don’t look at how other countries operate. You don’t have a section in customs, which you want to operate and you don’t rebuild that section you allow that section to exist. And you now bring another section that will duplicate that section. It’s going to create a lot of confusion. Our assembly members should be doing their job.

You don’t have to go in and do the same thing, you look at your area and limit yourself to your functions so that you don’t duplicate. It will bring a very bad influence. This is why I have to address this to the presidency and other areas.

Sir, the body to be established under the bill would oversee the operations of other agencies, a situation that would likely endanger agency efficiency. What’s your take on this?

You see, when you look at agencies, you don’t override other agencies. You cannot do the function of those agencies. For instance, people come to understand classification. They don’t understand interpretation. So, how do you override other issues against them? They don’t understand anything about Customs, for instance. They don’t know about the NAFDAC procedure. How do you override what I just said, you are not an expert in that field. With this bill, you don’t know what is the work of the Shippers Council for now. Do they understand what they call the procedure of trade? What they do is just to make sure that the trade complies with their own rules. We don’t override NAFDAC. I just look at what happened in other countries, other clans, you find out that is what is on. You don’t say the use of port regulations and specifically for concession, for concession of the ports.

The World Bank toolkit says you cannot start a concession without bringing a new law. But the law you are having now is a new act, which will clash with the 1999 act, which actually established the Port Authority Act. You don’t regulate a thing that you don’t know. You must regulate things you know. But the regulation is for

economic interest. When you look at the economic interest, how do you move this thing so that you don’t create problems, how do you do this not to go and start to see how you regulate other agencies in their regulatory functions. You don’t do that. It is not done anywhere in the world.

We have similar bills that have come and gone that none were passed into law. So what’s your suggestion on how to break the law, so to speak?

You see, when you see us stay in Abuja for nine months, eight months, and then ten months, fighting bills, they didn’t just stop the bills.

We must know that we make contributions to make those bills better. Even the new Custom Bill that is passed, it has passed a lot of irregularities, confusion and complex situations because we stopped it so many times.

So that bill must be adjusted, it must be amended because it cannot fly. If they want to, they will have conflict. There’s a lot of conflict there. It’s not a domestic trade. It’s an international trade deal that has to do with convention, treaty and agreements.

You go to Ghana, they have their own Act, they have the Custom Act, it’s not a service bill, a service bill is not supposed to be used as a name, it’s not supposed to be a Custom Act, what is custom act, Import and export, but when you say, custom and excise management, you say import excise, excise is manufacturing import and export, then manufacturing, that is excise, management, including the management of the service inside that space. That is what you have in SEMA.

But what you have now is that you have custom

service bill. Service bill is never done anywhere in the world. It’s not a special service. It’s a trade act. So all these things must be harmonised and reorganized. Otherwise, we’ll be having a very serious issue in our port system.

Let’s move away from that and go to the Lagos ports. The Lagos ports remain one of the most congested. What advice will you give on the development of the ports?

The Lagos ports are not congested. It is the handling of the ports. When this port was to be concessioned, I fought against it. I said the concession must not be done politically. The concession was done and they removed the element of concession. The concession element was not in the law.

There was no law passed for concessions. There was no law. You just give these things to terminal operators without a law. So, it’s a contract, not a law. So the concession law is missing in NPA Act. What you have in NPA Act is a lease agreement, and that lease agreement, that’s for five years. And you must understand, before that court was concession you were having holding bays, you’re having trailer pack. You have PTML. It’s supposed to be a terminal, but you call it a port. Then you have KLT, and then you have Apapa port. When you look at the Apapa port, if you put this port to deck, you can call Lagos state a city port. It just needs handling. It’s not congested. It’s just handling. What is the handling? You have tools, and then you have procedures.

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D4 Africa: A Platform to Sell Nigeria’s Digital Identity Management

The recent ID4 Africa Conference in South Africa served as a platform for Mrs. Abisoye Coker-Odusote, Director-General of the National Identity Management Commission, to display Nigeria’s progress in digital identification, reports Dike Onwuamaeze

For the Director-General of National Identity Management Commission (NIMC), Mrs. Abisoye CokerOdusote, the recently concluded ID4 Africa 2024 conference that was held in Cape Town, South Africa, from May 21 to 24, was a crucial platform to share Nigeria’s experience on how identity management could be improved through the application of digital technology and effective articulation and implementation of public-private participation.

The ID4Africa is the only Pan-African movement dedicated to helping African nations build their strategic capacity to develop robust and responsible identity ecosystems in the service of development and humanitarian action.

This is being accomplished through ongoing grassroots engagement with its 48 African member countries to understand and identify Africa’s identity priorities and convene the experiences and expertise of the global stakeholder community to generate trustworthy knowledge that addresses these priorities and responds to the unique contexts that shape them.

In this capacity, ID4Africa is considered a thought leader in the field of digital identity, playing a role in shaping the global discourse on this vital issue.

The ID4Africa conference was a pivotal moment for the continent’s digital identity landscape and carried enormous significance for Nigeria and the rest of African countries that are still battling to set up an effective and efficient identity system that would ease public sector governance, business and economy more.

Speaking as a panelist alongside key identity management officials from Ethiopia and Kenya, Odusote said that until her arrival at the NIMC, Nigeria’s identity management efforts had been fragmented, with different agencies and sectors operating in silos. This lack of coordination not only hampered efficiency but also left gaps that could be exploited by malicious actors.

But this is no more as the story has started changing for better. The good news is that her inspired leadership has evolved a more holistic and robust identity ecosystem that could be developed by bringing together public institutions, private companies, and local innovators.

She said: “What we have done is to ensure that we have one single unique identifier for Nigerians to use and to gain access to all services. So far, we have had positive feedback on that especially with collaborations with our ministries and agencies. We have over twenty working groups in ensuring that we are able to fulfill our mandate.

“We need to use the National Identification Number (NIN) for issues like the palliative program to know who these beneficiaries are. In the past in Nigeria a lot of time when it comes to government interventions cash was the order of the day. But the administration of President Bola Ahmed Tinubu is very keen in ensuring a low cash approach and we are able to use the NIN to track all the beneficiaries if they have received their payments in real time.”

One of the major drivers of the use of digitally enabled enrolment into the national identification system is the mandatory requirement that every Nigerian has NIN. The NIN is the unique number which identifies a citizen for life and is issued by the NIMC after enrolment.

She explained that for this reason, there is currently a rising demand for NIN. In addition, more integration with the Ministries, Departments and Agencies (MDAs) has driven up the request for NIN.

“We are also planning to go out to the schools to be able to register the children. There is so much that we are doing. I am just providing the summary,” Odusote said.

Odusote revealed that NIMC enrolled over 107 million citizens in Nigeria’s identity management database, which marked a historic milestone in the country’s digital transformation journey.

She emphasised that the enrolment milestone reflected the NIMC’s relentless efforts to ensure inclusivity, accessibility, and security in identity management.

Odusote also highlighted the commission’s efforts under her leadership to modernise Nigeria’s identity management infrastructure, streamline registration processes, and enhance data security measures.

Furthermore, she emphasised the importance of public-private partnerships in driving innovation and expanding the reach of identity services across Nigeria. She is noted for her fervent embrace of the PPP concept. This disposition has cemented her reputation as a trailblazer in collaborative governance and innovation.

Nevertheless, there are challenges militating against the quest for digital identity management in the country that is being addressed. She said during the panel discussion that there is need for physical national identification card because “technology wise, a lot of remote areas seldom have access to internet. Also, the cost of acquiring a telephone must be lowered to make it affordable and encourage access to mobile devices.”

“There is also a trust issue,” she stressed.

Across Africa, there has been a growing recognition of the importance of harnessing indigenous talent and expertise to drive technological innovation that include initiatives such as the African Union’s Agenda 2063 and the African Continental Free Trade Area (AfCFTA). These underscore the continent’s commitment to fostering home-grown solutions and leveraging technology for sustainable development.

One of the private sector’s voices that echoed at the ID4Africa belonged to IT expert and Chief Executive Officer of Banksforte Technologies Limited (BTL) Mr. Adedayo Bankole, who pointed out that the time had come for Africa to galvanise the continent’s wealth of talent and creativity in shaping the future of deployment of technology on the continent.

The BTL is a subsidiary of Banksforte Group, which offers services in IT solutions, project management, construction, and engineering.

As Bankole took the centre stage, his message resonated not only with the Nigerian delegation that was led by Odutose, but also with attendees from across Africa, as he offered a glimpse into the transformative potential of robust identity management systems for Nigeria.

He shed light on a promising path forward, which is leveraging local innovation and fostering collaboration between public and private entities to develop home-grown solutions tailored to the needs of African countries.

Bankole also highlighted the significance of multilateral collaboration and synergies between civil registration, identity, and health to drive digital identity. His emphasis on collaboration also aligned with Nigeria’s broader strategic objectives such as fostering partnerships with the private sector and international organisations to strengthen its identity ecosystem.

These initiatives, including the World Bank-supported Identification for Development (ID4D) programme and partnerships with technology companies, have strengthened Nigeria’s ability to provide inclusive and secure identity solutions.

He pointed out that the need for effective digital identity management systems was becoming increasingly crucial for access to services, participation in the economy, and ensuring security. This is vital for Nigeria, with its large and diverse populations that faces unique challenges in this regard that calls for urgent innovative solutions.

One of the propositions offered by Bankole that sparked a wave of enthusiasm among experts and industry players in Africa at the ID4Africa 2024 conference was the need to harness local innovators to provide home-grown IT solutions on the continent.

Bankole’s suggestion struck a chord with many for several reasons. One, it is the way to go as it signified a shift towards solutions that are tailored to the specific

needs of African countries. For too long, the continent has relied on imported technologies that may not fully address local challenges or harness the continent’s rich pool of talent and creativity.

To empower local innovators would aid Africa to unlock its full potential and address issues ranging from healthcare to education, infrastructure and beyond.

According to Bankole, when solutions are developed locally, they reflect the values, aspirations, and cultural nuances of the people they serve. This not only enhances adoption and usability but also empowers African nations to shape their own technological destinies. It is a powerful assertion of agency and selfdetermination in a world often dominated by external influences.

The prospect of home-grown IT solutions also holds immense promise for economic growth and job creation. African countries can stimulate entrepreneurship, attract investment, and create high-value jobs in the technology sector. This, in turn, could help in addressing youth unemployment and drive for sustainable economic development across the continent. Furthermore, leveraging local innovators can lead to more inclusive and equitable outcomes. African countries are characterised by vast disparities in access to technology that often leave rural and marginalised communities behind. But home-grown solutions have the potential to bridge this digital divide by offering affordable, scalable, and context-appropriate technologies that cater to the needs of all citizens, regardless of their socioeconomic status or geographic location.

Another key aspect of Bankole’s submission at the conference is the notion of collaboration. He stressed that public-private partnerships play a crucial role in leveraging the strengths of both sectors to create efficient and secure identity solutions.

Bankole’s submission focused on the potential benefits of such partnerships, including accelerated innovation, cost optimisation, and enhanced service delivery. He highlighted the importance of involving both the government and private sector organisations in the design, development, and implementation of identity management systems.

Coker-Odusote

Business Special

Preserving Central Bank of Nigeria’s Autonomy

James e mejo writes on the need to preserve the autonomy of the c entral Bank of Nigeria in the interest of the nation’s economy

The National Assembly recently passed a bill seeking to amend the CBN Act, 2007 (as amended) to reduce some of the powers of the apex bank to take far-reaching decisions on its core mandate without recourse to the fiscal authority or other external stakeholders.

The parliament had also scheduled a public hearing of the bill as required by law to satisfy all procedures before final amendments and possible transmission to President Bola TInubu for his assent.

However, the controversies and pushback that have greeted this development have forced the lawmakers to suspend further works on the proposed amendment to the CBN Act.

Only recently, Special Adviser to the Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Prof. Uche Uwaleke, in a statement said the National Assembly had put the entire amendment process of the CBN Act on hold to allow for more consultations amid reports that the legislature planned to transfer interest rate decisions from the CBN to a committee to be chaired by the Minister of Finance, a claim which he denied.

No doubt, recent events may have informed the decision to introduce several changes to the current CBN Act – including the bank’s alleged reckless exposure to the federal government and other advances deemed to have breached set thresholds as well as most recent attempts by top officials of the bank to venture into politics while still holding on to their positions in the bank, among other alleged infractions.

But analysts have argued that while certain aspects of the CBN Act may be tweaked to bring some level of sanity to the bank, especially the incursion of its officials into politics while they remain staff of the apex banking regulatory institution, it is still in the overall interest of the economy to preserve the autonomy of the central bank.

Several schools of thought have continued to defend the notion that the central bank’s independence remained sacrosanct and nonnegotiable for any reason.

The bill, sponsored by Senator Sunday Karimi, seeks to make the “Central Bank more transparent and accountable in its operations and to ensure enhancement of its functions and or connected matters herewith.”

The proposed legislation attempts to alter the current board composition of the apex bank by introducing diverse stakeholders from the economy including the fiscal side into the board.

Specifically, “The Board shall consist of a) A Governor who shall be the Chairman; (b) four Deputy Governors; (c) five Directors; (d) the Permanent Secretary Federal Ministry of Finance; (e) the Accountant General of the Federation; (f) the Auditor General of the Federation;’ (g) the Chairman, Federal Inland Revenue (FIRS); (h) the Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC); (i) the President, Chartered Institute of Bankers of Nigeria.”

Also, Section 9 of the Principal Act was amended by including a new subsection 2 and retaining the existing section as Sub-section 1.

The proposed amendment reads: “9(1) The Governor and Deputy Governors shall devote the whole of their time to the service of the bank and while holding office shall not engage in any full-time or part-time employment or vocation whether remunerated or not except such personal or charitable causes as may be determined by the board and which do not conflict with or detract from their full-time duties provided that the Governor or any of the deputy governors may, by his office, be appointed with the approval of the Board to- “(a) act as member of any Constitution established by the federal government to enquire into any matter affecting currency or Banking in Nigeria;

“(b) become Governor, Director or member of the Board or by whatever name called, of any international bank or International Monetary Institution to which the Federal Government shall have interest or give support or approval; “(c) become Director of any corporation in Nigeria under section 31 of this Act in which the Bank may participate.

“9(2) Notwithstanding the Provisions of this Act or any written law in existence, the Governor and the Deputy Governor of the Bank shall not participate directly or indirectly in partisan politics, nor contest any election, during their tenure in office.”

Other salient aspects of the bill included Section 14(6) of the Principal Act which reads: “14(6) the salaries, fees, wages or other remuneration payable to or in respect of employees of the Bank, other than the Governor or Deputy Governors, shall be as stipulated from time to time by the Board in consultation with the National Salaries, Income and Wages Commission”.

CBN’s positioN oN the Bill

The CBN in its submission to the committee noted that while some of the proposed amendments to the CBN Act are commendable as they are designed to entrench the culture of compliance, strengthen corporate governance, and reposition the bank for improved performance in attaining its mandate, having an independent central bank remained the accepted practice across all major world economies.

The apex bank argued that eroding the powers of the CBN will put the government (and legislature) in a bad light and not in tune with global economic trends.

The CBN stated that some of the major proposed amendments to the Act appear to erode the bank’s autonomy and weaken the independence of monetary policy, at variance with international best practices.

For instance, the CBN pointed out that the proposed Coordinating Committee for Monetary and Fiscal Policies concerning monetary policy will undermine the bank’s independence in achieving its price stability mandate.

Specifically, the apex bank contended that

the Fiscal and Monetary Policy Coordination in the CBN Act could undermine the CBN’s operational independence and weaken the bank’s flexibility in deploying appropriate policy frameworks in a dynamic economic environment to achieve its mandate.

The bank argued that the proposed amendment would promote undue political interference in purely economic matters, as the fiscal authority would dominate the proposed committee’s membership and chairmanship.

The CBN stressed that “Subjecting the CBN’s budget to National Assembly approval undermines its institutional autonomy and introduces the potential for political interference in monetary policy.

“This could lead to significant delays in monetary policy implementation and hinder swift monetary policy responses with potential negative implications for macroeconomic stability.

“Some of the proposed amendments threaten the independence and operational autonomy of the Bank as the country’s Monetary Authority.”

GloBal CoNseNsus for CeNtral BaNk’s autoNomy

Experts believe that central bank’s independence remains non-negotiable because it is crucial for maintaining economic stability and promoting sustainable growth. And there are several reasons why the bank’s independence is so crucial to the economy.

This is particularly so because central banks are staffed with experts in monetary policy who can make informed decisions to control inflation. Political leaders, on the other hand, may lack the necessary expertise.

Furthermore, independence enhances the credibility of a central bank’s commitment to maintaining low and stable inflation as this trust can lead to lower inflation expectations and, consequently, lower actual inflation.

Also, independent central banks can focus on long-term economic goals rather than shortterm political gains. This helps to prevent inflationary policies that might be popular in the short term but harmful in the long term.

In addition, investors and financial markets place higher confidence in monetary policy when it is free from political interference, leading to more stable financial markets and lower risk premiums.

Experts also believe that politicians may be tempted to manipulate monetary policy to create short-term economic booms to win elections, even if such actions are unsustainable and harmful in the long term.

It is also believed that when central banks are independent, they are less likely to finance government deficits through money creation, which can lead to hyperinflation. This enforces fiscal discipline on the government.

Independent central banks can implement countercyclical policies (e.g., raising interest rates during booms and lowering them during

busts) without political pressure, leading to more stable economic growth.

Moreover, independent central banks can help prevent economic bubbles and financial crises by focusing on maintaining price stability and monitoring financial systems.

Additionally, the CBN said the inclusion of the Coordinating Committee for Monetary and Fiscal Policies in determining the rates of interest on the bank’s temporary advances to the federal government will not only erode the bank’s operational autonomy but also breed conflict of interest since the committee is chaired by the minister and dominated by fiscal actors.”

aNalysts’ perspeCtives

However, analysts who spoke with THISDAY on the controversial CBN Act amendment, agreed on the need to safeguard the independence of the apex bank.

Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said: “All over the world, central banks are established to be autonomous and not to be trapped in the activities of the government. In Nigeria, the nature of oversight of CBN on all financial institutions, monetary policy decisions, and banker to the federal government are such that no arm of government should meddle with”.

Ekechukwu added: “CBN has Monetary Policy Committee (MPC) and board members are very qualified and committed persons enough to handle the oversight and corporate governance of the CBN.

“The CBN, therefore, should not be made to submit their budget or bi-annual report to the National Assembly. Such reports are not necessary as the MPC reels out the communique, which covers all monetary policy issues every quarter.

“Please, as a nation, we must avoid meddling with the activities of CBN, so we can hold them completely accountable and responsible for all decisions they take. Meddling with their autonomy will amount to corrupting our financial system stability.”

On his part, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, stressed that the core mandate of central banks across the world includes fixing interest rates for their economy which is sacrosanct.

He said: “However, the Ministry of Finance can align fiscal policies with the monetary policies driven by the CBN to strengthen the economy.

“The power to fix interest rates and drive monetary policies is the symbol of independence of the CBN and without which the relevance of the central bank will be completely eroded.

“I want to believe that the Senate or the National Assembly will not want to tamper with the independence of the CBN to carry out its core functions.”

Idakolo added: “Any attempt to tamper with the independence of the CBN will have serious consequences on the investment drive of the federal government and can cause investors both local and foreign to develop cold feet in investing in Nigeria.”

CBn Office, Abuja

Ecobank Reiterates Commitment to Make Adire Industry Leverage AfCFTA

Nume Ekeghe and Oluchi Chibuzor

Ecobank Nigeria has reiterated its commitment to ensure that Nigeria’s adire industry leverages the potential of the African Continental Free Trade Agreement (AfCFTA).

Speaking at the third edition of the annual Ecobank ‘Adire Lagos Experience’ in Lagos, the Executive Director, Commercial Banking, Ecobank Nigeria, Kola Adeleke, said they are committed to make merchants exhibiting at the fair leverage the Africa trade pact.

The event, which is expected to run from 14th to 17th of June, 2024 at the ultra-modern Ecobank Pan

African Centre (EPAC), would see 100 exhibitors showcase locally processed adire attires made by indigenous designers.

“Like after the program, these 100 merchants, we are going to work with them and partner with them. We are going to capacity build them with them. We are going to even see the opportunity for them to improve on the quality of whatever they are producing so that it makes it exportable. Because ultimately, our goal is to ensure that Adire becomes like an African brand.

“So, this for me is very unique for us as an organization. It’s very unique, it’s very important because it will help to grow this economy as

we see the export potential there. So, we are going to get all these merchants on the eco-bank single market trade hub and then expose them so that they will be able to export their products to other countries in Africa, “he said.

He said Ecobank Nigeria is driven by the ambition to support the creative sector of the economy.

Speaking, the Commissioner for Culture and Tourism, Ogun State, Dr. Fagbayi Oluwasesan, said there is a need to promote adire culture to help improve the sector.

“We must ensure that the indigenous adire producers get all the necessary support to improve production capabilities and sales.”

Ibukun: Wemabod Demonstrated Remarkable Resilience in 2023FY

The Chairman of Wemabod Limited, Efuntayo Ibukun has stated that amid harsh conditions, the company demonstrated remarkable resilience in its 2023 financial year and has continued its upward trajectory.

Speaking at the company’s 50th Annual General Meeting (AGM) in Lagos, he noted that the management is committed to excellence in real estate development and positioned to become a leader in the real estate industry.

“This resilience is a testament to the quality of leadership, our strategic planning, robust operational framework, and the unwavering dedication of our team,” he said.

He disclosed that Wemabod Limited achieved a profit before tax (PBT) of N1.3 billion in comparison to its 2023 budget of about N423 million.

The management proposed a dividend payment of N42.4 million to its shareholders, translating to N1.63k dividend per share.

He added, “we have taken proactive measures to adapt and thrive. Analysts project that the value of global investable real estate will grow by an average of 5.2per cent annually over the next 20 years. This long-term optimism reaffirms the attractiveness of real estate investments, despite current macroeconomic shocks and political uncertainties.”

On future outlook, the Chairman stated that, “Looking ahead, there are encouraging signs of optimism as the growth outlook has improved across all regions.

“Policymakers, businesses, and households continue to face challenges, including persistent inflationary pres-

sures and stricter financial conditions. However, with the recent election of President Bola Tinubu and his proactive measures, such as the removal of subsidies and the unification of forex, investor confidence is on the rise. We are optimistic that the real estate sector will thrive, and that the economy will achieve its projected growth rate of 5.2per cent in 2024.”

The outgoing MD/CEO Wemabod Limited, Mr. Yemi Ejidiran said the company delivered strong 2023 results, driven by key fundamentals of its accounts.

“Our financial performance reflects our unwavering focus on operational excellence, prudent financial management, and strategic investments that have yielded positive returns for our shareholders notwithstanding the inclement economic clime,” he said.

Access Bank, SCIDaR to Enhance Health SMEs Financing

Nume Ekeghe

Access Bank, has partnered with Solina Centre for International Development and Research (SCIDaR), a prominent non-profit organisation spearheading impactful health interventions across Africa to tackle financing challenges faced by over 200,000 health Small and Medium Enterprises (SMEs) in Nigeria.

In a statement, from the bank, SCIDaR’s Access to Finance Specialist, Mark Akpan noted that through this collaboration, SCIDaR will strengthen the capacity of health SMEs to be investment-ready through the

provision of technical support services including entrepreneurship and financial management training in addition to business development services for a sustained relationship between the health providers and Access bank.

At the MoU signing event at SCIDaR’s headquarters in Abuja, Chief Executive Officer of SCIDaR, said: Dr. Uchenna Igbokwe, “Funding is critical for Nigeria’s health system. Insufficient funding has strained our health infrastructure, resulting in subpar performance on health metrics. This partnership with Access Bank is timely as it

aligns with the government’s vision for the health sector and has the potential to strengthen health value chains and support our country’s GDP contribution.”

Deputy Managing Director, Access Bank, Chizoma Okoli, said “In 2022, we launched a project with the goal of enrolling one in every two Nigerians. It’s audacious and we have attained outstanding results so far. As part of our ongoing mandate, we are committed to providing access to finance for entrepreneurs in the transportation, agriculture, and health sectors this year.”

Sims Becomes Official Representative of TCL Electronics in Nigeria

Sims Nigeria Limited has announce its partnership with TCL Electronics, a renowned global leader in the consumer electronics industry.

In a statement, it was noted that Sims Nigeria Limited is a trusted name in the consumer electronics industry, known for its commitment to excellence and customer satisfaction.

The statement also noted that with a wide range of high-quality products and a dedication to innovation, Sims Nigeria Limited has established itself as a market leader in Nigeria. It was revealed that TCL

Electronics is a leading consumer electronics brand with a strong presence in the global television market and operates in more than 160 markets around the world.

Speaking on this new partnership, The Executive Director Corporate Services of Sims Nigeria Limited Mr. Fab Uzor, said: “We are thrilled to partner with TCL Electronics, a global leader in the consumer electronics industry. This collaboration reinforces our commitment to providing our customers with the best-in-class products and innovative solutions. Sims Nigeria

remains your one-stop-shop for top quality products from global brands.”

Also speaking the Country Manager for TCL in Nigeria, Mr. Alec Zhang, said: “As a brand at the forefront of cutting-edge technology in the consumer electronics industry, having a strategic partner like Sims that will accelerate the adoption of our products and drive the growth of TCL in the Nigerian market is a significant milestone for us, we look forward to delivering high quality products and after sales support service to consumers across Nigeria.”

The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00

(Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

L - R: Executive Director, Corporate Services, Sims Nigeria Limited, Mr. Fab Uzor; Country Manager Entertainment, TCL Electronics, Mr Alec Zhang; Chairman, Sims Nigeria Limited, Simeon Eyisi; Country Manager Home Appliances, TCL Electronics, Mr Sam Yuan and Executive Director Operations, Sims Nigeria Limited, Ik Eyisi at the TCL-SIMS partnership event in Lagos…recently

Minimum Capital Requirement: Wema Bank Raises N40bn via Rights Issue

Kayode Tokede

Wema Bank Plc has said that it successfully concluded the first tranche of its recapitalisation exercise having secured all relevant regulatory approvals for the allotment of its N40 billion Rights Issue, which was initiated in December 2023.

In view of macroeconomic conditions, the Central Bank of Nigeria (CBN) in March 2024, launched a recapitalisation programme requiring commercial

banks to raise fresh capital in alignment with the minimum requirement for their respective banking licenses, within a 24-month timeline spanning April 1, 2024, to March 31, 2026.

The goal of this recapitalisation programme is to simultaneously boost the Nigerian economy and strengthen the Nigerian financial services industry.

As a forward-thinking and pioneering bank, Wema Bank in December 2023 launched a N40billion Rights issue which has

now been approved by the CBN and the Securities and Exchange Commission (SEC).

With this remarkable development, Wema Bank has now successfully raised the 1st tranche of its plan in the minimum requirement laid down by the CBN.

In a statement made to the public, Wema Bank’s Managing Director and CEO, Mr. Moruf Oseni iterated the Bank’s resolve in retaining its Commercial Banking license with National

Authorisation, adding that the N40bn Rights Issue is a step in that direction.

“We are delighted to announce the conclusion of the 1st tranche of our Capital Raise Programme, after obtaining the relevant approvals of all regulatory authorities.

“Our move to commence our Capital Raise Programme very early demonstrates our push for excellence and with a strong emphasis on our digital play, we are set to amass more successes

in the coming months.”

“We were impressed by the vote of confidence given by our shareholders during the 1st Rights Issue exercise as our shares were fully subscribed. In addition, we obtained the approval of shareholders at our 2023 Annual General Meeting (AGM) to raise an additional N150billion to meet the capitalisation threshold set by the CBN.

“The process is expected to be completed within 12-18 months. We are committed to providing

optimum returns for every stakeholder and the successful conclusion of this N40bn Rights Issue is a bold step in the right direction.”

In addition to the upward trend in the Bank’s financial performance and the success recorded so far in its recapitalisation exercise, Wema Bank’s corporate rating was recently upgraded to BBB+ by Pan African credit rating agency, Agusto and Co, and retained at BBB by international rating agency, Fitch.

PRICES FOR SECURITIES TRADED ASOF j U n E 13/24

Photo

L-R: Olu of Iwara Land, Laba Kingdom, Oba Suleiman Owolabi; Chairman, Surulere Local Government Area, Hon. Suleiman Bamidele; Area Commander, Area C Command, Surulere, ACP Ayoola Oladunni; and Area Commander, Area B, Apapa Command, ACP Sunday Opebiyi, during a town hall meeting tagged: ‘The Prison Called Illicit Use of Drugs: The Way Out’, organised by the Nigeria Police Force, Area C Command, Surulere, Lagos… recently

PHOTO: ETOP UKUTT

L-R: Team Captain, Agege Radiators, Segun Soyomi; Team Captain, Kosofe Camshafts, Aliyu Ibrahim; Chief Executive, Hyde Energy, Dimeji Edwards; former Super Eagles striker, Victor Ikpeba; Team Captain, Ojota Injectors, Kelechi Onele; and Head of Nigerian Automobile Technicians Association (NATA), Lagos State, Moruf Egberongbe, during the award ceremony of theHydeCup#MechanicsChampionsLeague in Lagos… recently

L-R: Supply Chain Management Lead, West Africa, Standard Chartered Bank Nigeria(SCBN) Limited, Banke Oshinowo; HR Business Partner and Country Lead for Diversity and Inclusion Council, Standard Chartered Bank Nigeria Limited, Kotan Awokoya; Chief Executive Officer, Standard Chartered Bank Nigeria Limited, Dalu Ajene; Executive Director, Standard Chartered Bank Nigeria Limited; Head of Fate Foundation, Nike Adeyemi; and acting Head of Corporate Affairs, Brand and Marketing, SCBN, Joke Adu, at the pop up exhibition for entrepreneurs hosted by the bank in Lagos… recently

L-R: Corps Marshal, Federal Road Safety Commission (FRSC), Shehu Mohammed; Chief Justice of the Federation, Justice Olukayode Ariwoola; and President, Court of Appeal, Justice Monica Dongban-Mensen, during the decoration of the Chief Justice of the Federation as Honourary Special Marshal in Abuja… recently

Newly wedded couple, Mr. Kolawole Ayobami (left) and his heartthrob, Yetunde Ayobami (right), daughter of foremost Nigerian journalist, Mr. Tunde Mac-Alabi, during their wedding reception at Habour Point, Lagos… recently

Tackling Menace of Street Trading in Anambra with Solution Stalls

David-Chyddy Eleke reports that Anambra State governor, Prof Chukwuma Soludo is building open stalls within Awka city for various edibles to accommodate street traders who were previously put out by government’s ban and subsequent enforcement

Street traders in Anambra State are among the group of people that have suffered untold hardship under Soludo’s two years as governor. It started with the hunting and hounding of motorists, including tricyclists and bus operators, with a heavy tax regime, but considering the importance of their services, it took a few protest from the operators to the government house, and downing of tools for Soludo to rescind his decisions against them, and now introduce a friendly tax system.

But in the case of roadside traders, they have in all the two years of Soludo’s administration remained at the mercy of touts who hide under agencies of government to either confiscate their wares, or destroy and smear them on the floor in their presence.

Upon assuming office, Soludo had announced a ban on street trading, but because there were no provisions for street traders to display their wares, and because survival is a necessity, street traders who mostly deal in fruits, vegetables and other wares insisted on violating the order.

Using various government agencies such as OCHA Brigade, ANJET, Awka Capital Territory Development Authority, (ACTDA) and others, the Soludo government always confiscated and destroyed wares of such recalcitrant traders.

During one of such occasions in February, government agents headed by Managing Director of ACTDA, Mr Ossy Onuko, were captured on video, during a demolition exercise of stalls considered to be illegal structures, were seen beating up a woman who resisted the confiscation of her wares, but what was more heart-rending was how her wares were smeared on the ground, and promptly set ablaze, while the structure which served as her stall was demolished.

All these happened while her little baby cried profusely. The video which had gone viral, irked many. Reacting to it, the member representing Awka North and South federal constituency, Prof Lilian Orogbu in a video message came down hard on the Soludo-led government.

While agreeing that the state capital needs to wear a new look, Orogbu insisted that such enforcement must wear human face, considering the economic hardship in the country, and also taking into cognisance the fact that no new market has been built to relocate displaced traders.

But last week, what seemed like relief for street traders came, with the commissioning of Solution Arena, an open space with stalls and some lockup shops for sales of fruits, vegetables, grills and sundry items.

The arena, located at the Club Road junction, Awka is said to be one out of many that are springing up in major cities of the state, to permanently solve the problem of street trading.

The governor said all Anambra women who toil everyday, trying to make a living for themselves, in the neighborhood, can now trade their wares in a decent and befitting environment.

Governor Soludo who commissioned the arena stressed that the stalls are free of cost, adding that it is in line with the APGA motto of- Be Your Brother’s and Sister’s Keeper.

“Instead of blocking the traffic and keeping the environment untidy, the beneficiaries are now at liberty to use this environment and keep it clean.

“We commend the Managing Director of Awka Capital Territory Development Authority, ACTDA, Mr Ossy Onuko through whom the project was birthed.

As we speak, Odu Igbo market, Onitsha, among other are being built into a convenient shopping arena.”

Over 50 people who were displaced as a result

of the end to street trading in the state capital are expected to take up stalls in the arena, it was disclosed.

Meanwhile, Soludo seems to have won the heart of many with the inauguration of the arena. This is as traders in the area praised him for remembering to build the arena for street traders who were displaced months back.

A fruit trader, Miss Oluebube Orji said: “What we like most is the fact that we will not pay for the stalls. The governor announced today that the stalls are also toll free for traders who use them. With this, Soludo has shown that he is a leader who has the well-being of the downtrodden at heart, and we pray God to always bless him.”

Also, an appointee of the governor, Machi Pius Igwe said: “This commissioning of the Solution Arena in Anambra State Capital City, Awka is one of the most joyous events recently.

“Recall when street traders were displaced from around UNIZIK Tempsite, Regina Junction, and its environs, a transformative agenda met with severe criticism from the opposition. Many critics argued that a place should have been provided for them to conduct business due to economic challenges. It is noteworthy that some of the critics who made empty promises were merely seeking political mileage.

“Undeterred,Soludo took action instead of making empty promises. He ensured that no one was left behind, embodying the APGA party

people’s

“While there was a public outcry, Odenigbo focused on restoring the livelihoods of these traders. He not only provided them with smart stalls for their businesses but also instructed the exemption from taxation for traders with capital below a N100,000.

“Shame on those who sought to play politics with the emotions of our people! They are the enemies of progress. While Soludo believed in a smart and elevated Awka, they indirectly wanted Awka to remain a glorified village as a State Capital. Governor Soludo’s actions, with many more to come, demonstrate his commitment to improving the lives of our people, bringing development to rural areas, and transforming our major cities,” Igwe said.

Dr. Jean Kimemia Inspires Women to Break Barriers at SheCan Nigeria Conference

Mary Nnah

The SheCan Nigeria initiative recently concluded its fifth annual conference, themed “SheCan Do More 5.0,” featuring inspiring stories from influential women who have overcome humble beginnings to achieve greatness.

One of the speakers at the event was Dr. Jean Kimemia, CEO of Optiva Capital Partners, the lead sponsor of the conference.

In a stirring speech at the SheCan Nigeria initiative, Dr. Kimemia urged women to embrace self-worth, motivation, and service to achieve their full potential. Kimemia’s inspiring story, from humble beginnings to influential leadership, resonated with the packed audience.

Dr. Kimemia is a trailblazing Pan African businesswoman with a remarkable track record spanning over 27 years in the financial services sector. Prior to her role at Optiva Capital Partners, she served as Executive Director and Head of Wealth Management at Standard Chartered Bank.

Her contribution to the industry has been widely recognised through prestigious awards and accolades, including being named one of the 50 Most Inspiring Women in 2024 by BusinessDay Newspapers.

Kimemia who shared her journey, highlighting the challenges she faced and the lessons she learned along the way, emphasised the importance of selfworth, motivation, and service in achieving success.

“You must have self-worth and believe in yourselves. You must believe in your ability to excel and get to the destination that you have set for yourselves”, she stressed.

She also highlighted the critical role of education in empowering women and promoting gender equality.

“Education is the key to unlocking opportunities for women, creating a ripple effect that positively impacts families, communities, and society”, she said.

Dr. Kimemia’s passion for women empowerment and girl-child education was evident throughout her speech, inspiring the audience to take action.

As the lead sponsor, Optiva Capital Partners demonstrated its commitment to gender equality and women empowerment, aligning with the SheCan movement’s objective.

Dr. Kimemia expressed her company’s honour in supporting the initiative, stating, “Optiva Capital Partners is honoured to be the headline sponsor of an initiative that empowers women to reach their full potential, which aligns with our company’s values and commitment to gender equality.”

The conference featured other inspiring speakers, including Audrey Joe-Ezigbo, Deputy Managing Director of Falcon Corporation, Tara Fela Durotoye, one of Forbes’ Africa’s 50 most powerful women and founder of House of Tara International, Shaffy Bello, a Nigerian actor and Grace Ofure Ibhakhomu, Founder of Lifecard International Investment. They shared personal stories of perseverance and success, emphasising key principles such as prioritising personal truth, establishing a clear vision and mission, taking action, persistence, generosity and most importantly putting God first in all one does.

Ezinne Ezeani, founder of SheCan Nigeria, emphasised the importance of community and support.

“My call to everyone today is that you can be human in whatever capacity you find yourself in. It could be that you know how to coach, you know how to be a blessing. Whatever it is, we will be calling”, Ezeani noted.

The event celebrated women’s potential, encouraging them to believe in themselves and

their abilities.

Optiva Capital Partners’ support for the initiative and Dr. Kimemia’s inspiring speech on self-empowerment and determination left a lasting impact on the attendees, inspiring them to strive for more. As she concluded, “Believe in yourself, break the barriers, and excel. You got what it takes to be everything that you are meant to be.”

The SheCan Nigeria initiative aims to empower women through mentorship, career development, and support for widows and orphans. With the combined efforts of organisations like Optiva Capital Partners, the movement continues to inspire and uplift women, creating a ripple effect of positivity in the community.

The attendees left the conference with renewed energy and determination, ready to take on new challenges and break barriers. Dr. Kimemia’s message of self-empowerment and determination continued to resonate with them, inspiring them to reach new heights. The SheCan Nigeria initiative has once again demonstrated its commitment to empowering women and promoting gender equality, inspiring a new generation of women to take action and make a difference.

The conference has once again proven to be a powerful platform for empowering women and promoting gender equality.

Solution Arena for fruits and vegetables in Awka

Commissioning of Solution Arena, a block of stalls built to accommodate roadside fruits, vegetables and other edibles traders

slogan “ONYA AGHANA NWANNE YA,” putting smiles on

faces.

Dr. Jean Kimemia, second from left with other speakers at the event

INTER VIEW

Opeyemi Bamidele: 25 Years of Uninterrupted Democracy Worth Commemorating in Nigeria

Senator Michael Opeyemi Bamidele, a lawyer, human rights activist, and politician, is the Senate Majority Leader and a member of the ruling All Progressives Congress. He is an indigene of Iyin Ekiti, Ekiti State. He was a senior special assistant on political and intergovernmental Relations to the Lagos governor, commissioner of youth, sports and social development and commissioner for information and strategy. Bamidele, leader of the 10th Senate, speaks with a few journalists on national issues, including the nascency of Nigeria’s democracy in the successive 25 years, the global interplay of global political economy and national insecurity’s impact on Nigeria’s socio-economic and political stability. The longtime legislator also explains the intricacies of lawmaking and the parliament’s cordial relationship with the executive arm of government and highlights the burden of re-elections, constituents’ demands and their attendant consequences on high turnover in the National Assembly. The Senate majority leader also weighs in on the creation of state police, autonomy for local governments and ultimately, the single-term six-year rotational bill being considered in the House of Representatives. Sunday Aborisade presents the excerpts:

Nigeria marked its 25th anniversary of unbroken democracy. What is significant about this silver anniversary?

To the glory of God, it has been 25 years of uninterrupted democratic rule. Why is it significant for us to commemorate it? It is because of who we are and where we are coming from. For people to appreciate it, they will have to appreciate the historical context within which people embrace the commemoration of the 25-year unbroken democratic rule. We went through a situation where our democracy at independence went through some teething challenges like any other young democracies worldwide. Unfortunately, as it were then, our military took advantage of those teething challenges to terminate the entire democratic establishment. For three decades or thereabout, we were faced with a situation where one ‘corrective’ regime came to take over from another ‘corrective’ regime. As a federation, this led to a near-stagnation of our growth. Today, it has been 25 years of learning democratic practices. It has also been 25 years of nation-building.

It has been 25 years of nurturing nascent democracy. It has been 25 years of understudying the basic rudiments of democracy. It has been 25 years of learning to operate democracy based on the rule of law. It has been 25 years of learning to make the votes of the electorate count. It has been 25 years of learning to operate democracy in a way that we will not be left behind by the comity of civilised nations. We are all learning the fact that there is no alternative to democracy, especially in a multi-ethnic nation like Nigeria. So, for me, it is worth commemorating. It is not really a celebration. Rather, it is a commemoration. I believe we have come some way, and we still have some ways to go.

Within this timeframe, how will you assess the roles of the National Assembly?

In the last 25 years, the journey of the National Assembly cannot be dissociated from the journey of Nigeria as a whole. Like I said, it has been 25 years of trial and error in some areas. It has also been 25 years of learning to be democratic in other areas. For the nation, it has been 25 years of trying to enthrone and entrench parliamentary democracy. Different people, elected by Nigerians, have served in different capacities in the parliament both at the national and sub-national levels. At the national level, we have a bicameral legislature, which in design comprises the Senate and House of Representatives. At the sub-national level, we have the 36 state houses of assembly. In any case, our Constitution says the states shall be in charge of local government areas (LGAs) and make laws for local government administration.

Even at that level, the states have encouraged various LGAs to operate parliamentary arms for the purpose of making laws. The councillors, as the elected lawmakers at the local level, have been part of our history for the last 25 years. Within this timeframe, we have largely grown. We are also learning to allow a virile tradition of democracy to be built in a way that will produce ranking parliamentarians. But the turnover has been extremely high in the last 25 years. Again, it is because our democracy has remained nascent for a long time.

What are the factors that lead to the high turnover of parliamentarians?

First, people get elected and come to the seat of power in Abuja. Most times, they do not remember that they left people behind in their various constituencies. When it is time for another election, that’s when

they go back home. And their constituents will say to them: ‘We elected you for years, and you have not really been part of our lives. It will be difficult to give you another chance to represent us’. Second, it can be a question of misunderstanding on the part of the people. I am referring to the people who do not have a thorough understanding of the role of parliamentarians. Because we are in a nascent democracy, unfortunately, a lot of legislators are still distracted by the attempt to be part of the economic survival of the people. In another four years, legislators will not go back to their constituencies to give an account of how many bills they have initiated, how many oversight functions they have carried out or how many motions they sponsored. Contrarily, most people will ask them, ‘How many people did you empower in the last four years?’ Unfortunately,

legislators now find themselves in a situation where they have got involved in all manners of empowerment programmes. They buy generators, refrigerators, deep freezers, motorcycles, tricycles and all manner of things to share among their constituents in the name of empowerment. In a clime where there is an executive arm with the mandate to empower people and have the resources to do what they are supposed to do, it should not be the job of legislators. Today, however, it is part of what they are coping with.

But what are the key factors distracting legislators from their core constitutional obligations?

Legislators now want to carry out enough empowerment programmes in order to secure re-elections. It is part of the nascency of our

In another four years, legislators will not go back to their constituencies to give an account of how many bills they have initiated, how many oversight functions they have carried out or how many motions they sponsored. Contrarily, most people will ask them, ‘How many people did you empower in the last four years?’

democracy that we are talking about. In the last 25 years, we have seen a kind of metamorphosis. We have gone through different stages. But the good news is that things are getting better by the day. In every National Assembly, things are getting better than in previous years. Unlike before, the votes of Nigerians are beginning to really count with the introduction of technology into our electoral process. With the Bimodal Voter Accreditation System and the use of technology to report electoral results, the votes are beginning to really count. Everybody is becoming more conscious of the fact that you cannot do anything wrong and get away with it. What you do or do not will count in your favour or against you.

So, our democracy is maturing. The parliament is getting more mature. I emphasise parliament essentially because it is the bastion of democracy. In those days when we used to have military coups, the only arm of government that was terminated was the parliament. There will be an executive arm government, even when it was populated by soldiers or their cronies. The judiciary will always be there regardless of whether it is a military regime or a democracy. It is usually the parliament that first suffers when democracy is under attack. In the last 25 years, a lot has happened, and legislators have learnt so much. There have been attempts to also fit into the thorough understanding and practice of parliament procedures in a way that we can be seen to be complying with the global best parliamentary practices and procedures. This is what we call our gains or the gains of democracy

Nigeria’s Economic, Political Situation Could Have Been Worse without Tinubu’s Dexterity

in the last 25 years.

What are the key achievements of the 10th National Assembly?

The 10th National Assembly has done well in the last 12 months. However, it is something I like to handle in a very delicate manner. This is because I have to draw some delicate balance between sounding self-serving as an actor within the institution and also not too self-serving. This is crucial so that people will not think we are giving ourselves a pass mark unnecessarily. On this note, it is for the public to assess or score us. As it is said, it is for the people to assess or criticise their government and not for the government to assess the people or criticise itself. In every sense of modesty, however, the 10th National Assembly is living up to its obligations under the Constitution of the Federal Republic of Nigeria, 1999 (as amended). We are trying to be sensitive to the needs of the people across the federation.

The 10th National Assembly is running at a very critical period in our federation when our economy is almost on the floor. We have a new national government working to salvage our economy due to a number of reasons. First, part of it is crucial economic decisions or policies that we take in the country. Of course, each of these decisions has far-reaching implications that we deal with. Second, it is partly a result of the global economic recession. This is a global challenge and not a peculiarity of Nigeria. Third, this can be ascribed to the security situation, with which nearly all parts of the federation are grappling. This has made it impossible for the majority of our farmers to wake up and go to their farms. All these forces are meant to have serious implications for our economy. Part of it is responsible for the food crisis that we are facing in the country.

Beyond insecurity, we can also look at what is going on globally. The war situations between Russia and Ukraine, Israel and Gaza are having a grave impact on the global economy. We must understand this within the context of international political economy to be able to explain some of the things that are happening in our country today. It is not about the administration of President Bola Ahmed Tinubu, GCFR, not doing what it is supposed to do. If we had in place at this time an administration that does not have a scientific understanding of what is going on and what should be done, our situation would have been worse as a nation. We are in a dire situation, but there is a lot of hope based on the economic policies the government is putting in place and the courage to make some of the decisions that it is taking. Things will come together for Nigeria, and definitely, our situation will be better. Regardless of what we are going through, I have no doubt that our tomorrow will be better than our today.

The relationship between the executive and legislature is quite cordial. Can you explain the factors responsible for the cordiality?

Our Constitution provides for the separation of powers. To begin with, it (the cordiality) does not matter. If the president and commander-in-chief of the Armed Forces, as well as the president of the Senate and the chief justice of Nigeria, are siblings, our Constitution still says they must see themselves as the heads of thre different arms of government. So, that separation of power is there. Also, our Constitution provides checks and balances among the three arms of government. How does it happen? The legislature makes the laws. The executive must assent to the bills before they become laws. The judiciary is waiting to look at the sanctity of the laws which the legisature enacted and the executive assented to.

On the other hand, the appointment of the CJN and other principal functionaries of the Supreme Court, as well as the heads of courts, will have to be confirmed by the Senate. The president will have to swear in the CJN. So, checks and balances will always be there. No arm of government can do it alone. Our Constitution, quite interestingly, recognises the need for collaboration among the three arms of government. The truth about it is that we cannot but recognise when to apply each of these constitutional principles. People often misunderstand these principles. As a result, they label legislators the ‘rubber stamps’ of the executive. People who made

Some of our colleagues who feel strongly about it in the House of Representatives think there is a need to ensure that the politics of re-election does not distract from governance or take away the focus of somebody elected for a four-year term and interested in getting another four years. With this arrangement, they believe, the focus of the president or governors elected for four years will not be distracted from providing good governance. When you are elected president or governor, you will only govern for two and a half years. The last one and a half years will be devoted to the politics of re-election

this statement do not recognise the need for collaboration, which our Constitution emphasises. By the constitutional provisions, the truth about it is that when we are going through this kind of socio-economic and political situation, there cannot be a better time for the legislative arm to collaborate with the executive arm. We must continue to make laws for the good governance of this country. We must continue to amend the existing laws in a way that will suit our socio-economic and political realities. As much as possible, this is not the time for grandstanding. That is what I always want Nigerians to realise. It is no longer about any institution or any arm of government. It is about the people of the Federal Republic of Nigeria. Our people are facing stark economic situations. Our people want the best that life can offer them. In spite of our peculiar circumstances, our people need protection from the global economic meltdown. Our people want an end to insecurity irrespective of where they live in the country. Our people want an end to poverty. All these aspirations cannot happen unless there is synergy between the executive and the legislative. Like I said, it is not time for grandstanding.

There is a proposal before the House of Representatives to introduce rotational

no chamber of the National Assembly can, on its own and by itself, pass a bill into law and present it for the presidential assent. When the House of Representatives is done with the proposal, they will send it to the Senate for concurrence. At that point, senators will also need to sit down. This entails our own understanding of the kind of democracy we need to adopt, how to manage our democracy and what our constituents really want. Still, we will need to take a cursory look at the bill and take a position on whether we want to concur with what our colleagues in the House of Representatives have passed. I am aware of the move in the House of Representatives. Like the rest of Nigerians, we are also watching how the proposal will go. But the essence of having the parliament is to continue to make laws based on our realities or the need to broaden the horizon of our democratic practice. It is the right direction.

The review of the 1999 Constitution is ongoing. This has renewed the agitation for state police and autonomy for local government. What does the Senate think about these issues?

In summary, the issue of autonomy for our local government is an issue on which the National Assembly has already taken a position. We voted in support of local government autonomy in the previous attempt to amend our Constitution. It is an issue that Nigerians should take up with the state government rather than the National Assembly. The truth about it is that it is an issue that will require a constitutional amendment. No amendment to our Constitution can sail through without the support of two-thirds of the state houses of assembly. Our governors have a role to play in resolving this issue. Personally, I am for local government autonomy. I am also for the state police as well. I am convinced that it is the right thing to do. It is the way to go. It is also consistent with the global best practice. In order to protect our military, ensure they concentrate on their constitutional roles, and safeguard the territorial integrity and sovereignty of this country, there is a need to have a state police that will help strengthen our internal security so that our military forces can return to their traditional roles.

There are thousands of abandoned projects across the federation. Yet, the National Assembly annually makes provision for constituency projects. Why should the National Assembly prioritise constituency projects over abandoned projects?

presidency and single term of six years. What is your view about this proposal?

Every democracy evolves. Ours is an evolving democracy, too. But we have to take into consideration our peculiarities and the context within which it is being practised. Some of our colleagues who feel strongly about it in the House of Representatives think there is a need to ensure that the politics of re-election does not distract from governance or take away the focus of somebody elected for a four-year term and interested in getting another four years. With this arrangement, they believe, the focus of the president or governors elected for four years will not be distracted from providing good governance. When you are elected president or governor, you will only govern for two and a half years. The last one and a half years will be devoted to the politics of re-election. I am sure it is the politics of re-election that is driving the movers of that bill. Second, the need to rotate the presidency is a question that has been agitating a lot of Nigerians and friends of Nigeria for a long time. Those who are behind the bill have their reasons for promoting it. Let me make this observation.

We are a bicameral legislature. In other words,

We are concerned about the challenge of abandoned projects in the country. It goes beyond constituency projects. One of the motions the Senate is currently dealing with identifies 8,000 projects across the federation as projects that have been abandoned by different previous administrations. The projects cut across virtually all sectors of the economy. However, the incumbent administration is working hard to decisively address the challenge of abandoned projects. With respect to N100 billion set aside for constituency projects, this has been largely misunderstood, either by those who really want to mislead the public in this regard or by the lack of transparency that appears to have trailed the implementation of the projects in the past. If you divide N100 billion by 109 senatorial districts and 360 federal constituencies in this country, no senatorial district or federal constituency can boast of N1 billion constituency projects. What is the whole idea of constituency projects?

The constituency project is not money put in the pockets of senators or members of the House of Representatives. It is the fund set aside for the implementation of projects in all senatorial districts and federal constituencies.

The idea behind it is that when you ask the National Assembly to pass a budget, every senator and member of the House of Representatives wants to see something in his or her community. If you take N100 billion out of N28.5 trillion, what percentage will it give you? It is not even up to one per cent of the budget. That is the only fund allocated for the implementation of the project in every nook and cranny of Nigeria. At best, some legislators do not even get more than a few boreholes or solar streetlights in their constituencies. This is how it works. But people talk about constituency projects as if it were the money given to legislators to put in their pockets and spend. Not at all. In essence, it is all about projects sited in various constituencies and senatorial districts for the benefit of the people at the grassroots.

Radda

POLITY

Tinubu, EFCC and the Rising Sun on the Anti-Graft Field

By Dele Oyewale

In quantitative terms, it takes sunlight an average of eight minutes and twenty seconds to travel from the Sun to the Earth. This is what scientists call speed of light. This is also the corollary of happenings in the anti-corruption corridor since President Bola Ahmed Tinubu assumed office as President and Commander- in- Chief of the Federal Republic of Nigeria. With the score sheet of the Economic and Financial Crimes Commission, EFCC, even the harshest cynics in town would concede that there are unassailable facts on ground to establish the potency of the government’s anti- graft efforts.

It all started with the right foot Tinubu put forward by appointing Ola Olukoyede, a thorough- bred fraud- cracker as his pointsman in the anti- corruption space. Success is never happenstance. The latin adage “ ex nihil nihilo” ( nothing comes from nothing) bears tangential truth to the appropriateness of the choice of Olukoyede as the nation’s number one corruption fighter.

The avalanche of achievements of the EFCC in the last one year confirms this. For fraudsters, the last one year of Tinubu’s government has been one hell of a year. The EFCC alone secured 3412 convictions and made staggering monetary convictions ranging from N161, 642, 239, 207. 11( One Hundred and Sixty One Billion, Six Hundred and Forty Two Million, Two Hundred and Thirty Nine Thousand, Two Hundred and Seven Naira, Eleven Kobo) to $51, 793,374.71, £26, 465.00, €187447.10, ₹51,360.00, C$3,850.00, A$740.00, ¥74,754.00, R35,000.00, 42,390.00 UAE Dirhams, 247.00 Riyals and 21,580, 867631 Crypto Currency. This feat undoubtedly raises higher stakes for the nation’s anti- graft initiatives.

More poignant in the narrative is the evidently busy schedules of the EFCC in keeping faith with its mandate. Olukoyede came with clear- eyed commitment towards rejigging the Commission’s modus operandi. Today, the EFCC has become more urbane and humane in its arrest and bail procedures, without compromising its professionalism and credibility. Raids have become an old song. Marauder- like manner of invading crime scenes no longer hold water. Whimsical closure of business premises is gone for good. It is a new dawn of civilised engagement in breaking the fangs of criminality.

The trickle- down effects of the paradigm shifts in the operational dynamics of the EFCC are manifesting already. Foreign direct investments are coming up, local business community is sending signals of hope and the entire nation is applauding the fresh air coming from the Commission. It is no longer news that the EFCC is already building strength in deepining preventive frameworks in tackling the menace of economic and financial crimes and other acts of corruption. The logic of this modality is derived from the simple fact that it is cheaper and more functional to prevent corruption than to fight it when its cancer is already spreading. To give stronger teeth to this initiative, Olukoyede has established a full- fledged department called Fraud Risk Assessment and Control, FRAC.

The terms of reference of FRAC is to identify the vulnerability of Ministries, Agencies and Departments, MDAs to corruption and launch preventive rockets against it. The contract and procurement processes and procedures in MDAs have been fingered as breeding grounds of corruption. FRAC is working already to

sanitise these areas. The EFCC has called for anti- corruption blueprints of MDAs and other critical structures of government, including the Presidency, National Assembly and Judiciary to ensure that their contract and procurement processes and procedures are corruption- proof. Modalities for tracking contracts are in place. Investigative binoculars of the Commission are being put into good uses to ensure that abuses of anti- graft structures in public and private institutions are minimised. All these are practical preventive measures for tackling corrupt practices. With this kind of FRAC architecture in the EFCC, it is certain that the preventive agenda is in firm footing. Operationally, the EFCC has its hands full of works in last one year of Tinubu’s administration. To show its strong teeth against corrupt practices, the government suspended a serving Minister of Humanitarian Affairs and Disaster Management, Betta Edu alongside the Chief Executive Officer (CEO) of the National Social Investment Programme Agency (NSIPA), Halima Shehu over alleged corruption issues. Ex-Humanitarian Affairs Minister, Sadiya Umar Farouk is currently under investigation over alleged N37.1 billion fraud. In addition to this, alleged fraudulent dealings involving Covid-19 funds, World Bank loan and recovered Abacha loot, released to the Ministry of Humanitarian Affairs and Disaster Management are being investigated. Several other former ministers including Olu Agunloye, erstwhile minister of power and steel development, Hadi Sirika, defunct minister of aviation and aerospace development, former governors, Willy Obiano( Anambra), Abdulfatah Ahmed(

Kwara), Yahaya Bello( Kogi) and other former state and non- state actors are facing trial by the EFCC. All these are politically exposed persons.

The onslaught against internet fraudsters is all too known. The effectiveness of the works of the Commission in all other areas has made it difficult for its critics to prime their guns against it. There is no basis for anyone to accuse the EFCC of being selective in its activities any longer. Investigation and prosecution of internet fraudsters, politically exposed persons, captains of industries, heads of MDAs, private individuals and organisations have knocked the bottom against ardent critics of the Commission. The dynamics and fervour of operations in the last one year are simply breath-taking and this promises to continue with the obviously strong political will of the government to combat corrupt practices. Objective commentators and analysts are daily applauding the pace of the Commission in this respect.

Can we forget to mention the momentum of growth the local economy is gaining in recent times through the EFCC? The Special Task Force against Naira Abuse and Dollarisation of the Economy is busy on its assigned mandate. Till date, not less than 50 convictions have been secured by the EFCC against currency racketeers across the country. The convictions cut across different layers of the society and this is within the one year span of the present administration. The basis of crackdown on the Naira abusers is incontrovertible. The Naira is the symbol and identity of our local economy. It is Nigerian legal

tender. What the EFCC has been doing is to protect its sanctity and strength and so far, the gains are coming forth. The war against foreign exchange speculators and market disrupters is ongoing. Sanity is being restored in the foreign exchange market and we can only commend the genius of Olukoyede and his team in this regard. President Tinubu has also shown that he is not at home with corruption and he deserves a pat on the back. Are there challenges the EFCC has been facing in the last one year? Yes! It is public knowledge that corruption has been fighting back viciously. This is expected. In all honesty, the Commission cannot be adjudged to be focussed on its mandate without such resistance. Every opposition to anti- corruption work is affirmation of its potency and impact. More assuring, however, is the stronger and more engaging public support the Commission has been enjoying. As Olukoyede always say: “ “Nigerians are not fundamentally corrupt. It is the operating systems that are breeding corruption!”. This simply is the kernel of the whole matter. Broad- based support for the works of the EFCC confirms that Nigerians are intrinsically opposed to corruption and this alone is the pillar the Commission is resting upon. The trajectory of the moment is assuring. One year of anti- corruption works of the Tinubu’s government is engaging and fruitful. The EFCC is on course and prospects of corruption- free Nigeria are getting brighter.

•Dele Oyewale is Head, Media & Publicity of the EFCC.

Tinubu

FORGING BUSINESS RELATIONSHIP...

Pope Francis to G7 Leaders: Humans Must

Not Lose Control of Artificial Intelligence

Emmanuel Addeh in Abuja

Pope Francis became the first pontiff to address a Group of Seven summit at the weekend, warning world leaders that Artificial Intelligence must never be allowed to get the

upper hand over humanity. An array of global chiefs warmly embraced the 87-year-old pope as he made his way around their huge oval table, pushed in a wheelchair as age and infirmity limit his mobility, Reuters reported.

The pope said AI represented an "epochal transformation" for mankind, but stressed the need for close oversight of the everdeveloping technology to preserve human life and dignity. "No machine should ever choose

to take the life of a human being," he said, adding that people should not let superpowerful algorithms decide their destiny.

"We would condemn humanity to a future without hope if we took away people's ability to make

decisions about themselves and their lives, by dooming them to depend on the choices of machines," he warned.

nations or between dominant and oppressed social classes," he said.

"It is up to everyone to make good use of (AI) but the onus is on politics to create the conditions for such good use to be possible and fruitful," he added.

6,000 Personnel

Military Pledges to Restore Peace, Army Recruits

Troops kill four bandits in Kaduna, recover arms, ammunition

Ikechukwu Aleke in Abuja and John Shiklam in Kaduna

The military high command, yesterday reiterated its pledge to restore peace and security in all the troubled spots across the federation.

In his Eid-Kabir message to the Muslim faithful in Nigeria, the Chief of Defence Staff, CDS, General Christopher Gwabin Musa, said the AFN will continue to adopt both kinetic and non-kinetic approaches in their collective efforts to ensure the safety of every Nigerian.

Meanwhile, four terrorists have been killed by troops in Kajuru and Giwa Local Government Areas of Kaduna State. According to Samuel Aruwan, the Overseeing Commissioner, Ministry of Internal Security and Home Affairs, in a statement on Sunday, the troops were conducting clearance patrols.

CDS Musa also called on all Nigerians to embrace peace, unity and love for one another. He said: "It is my fervent believe that Nigerians, especially members of the Armed

Forces, will continue to abide by the invaluable lessons of sacrifice as exemplified by prophet Ibrahim.

“Let me cease this opportunity to assure everyone that the AFN remains strong and committed to ensuring the restoration of peace and security in Nigeria and its environ.

“The core mandate of the AFN as enshrined in the constitution is to protect the nation from external and internal aggressions. This we have been diligently committed to despite all odds.

"Let me use this opportunity to once again reiterate that the AFN will continue to adopt both kinetic and non-kinetic approaches in our collective efforts to ensure the safety of every Nigerian. l therefore wish to call on all Nigerians to embrace peace, unity and love for one another.

“The labours of our past and present heroes must indeed not be in vain. Let me also stress that the AFN belongs to all Nigerians and therefore important for everyone to continue to support their efforts

to guarantee the future of our dear country".

While rejoicing with Muslim faithful on the auspicious occasion of Eid-Kabir, General Musa expressed the belief that the sacrifice of prophet Ibrahim will serves as reference point for loyalty and dedication to Almighty Allah from generations.

He noted that members of the Armed Forces of Nigeria (AFN), remain committed to the democratic tenets and their loyalty to constituted authority remains constant.

He therefore, applauded President Bola Ahmed Tinubu for his unflinching support aimed at ensuring the Armed Forces of Nigeria remains the pride of the nation.

"May this auspicious occasion bring us joy, peace and blessings. Happy Eid-Kabir Celebration," he said.

Also, the hierarchy of the Nigerian Army (NA), has announced the recruitment of additional 6000 personnel into its fold to strengthen its capacity to continue to deny terrorists, bandits and other arm-

wielding non-state actors’ freedom of action.

The Chief of Army Staff (COAS) Lieutenant General Taoreed Lagbaja, said this while addressing young recruits after reviewing the Passing Out Parade of the 86th Regular Recruits Intake at the RSM HamaKim Parade Ground, Depot Nigerian Army, Kaduna.

Gen. Lagbaja, explained that the latest recruitment forms a crucial part of Nigerian Army’s solution to the security challenges confronting the nation.

The COAS, in a statement signed by Director Army Public Relations, Major General Onyema Nwachukwu, said the young recruits will form part of Nigerian Army's solution to the challenge of insurgency in the North East, banditry and cattle rustling in the North West, farmers-herders clashes in the North Central, secessionists agitations and cultism in the South East, militancy and vandalism of critical national assets and infrastructure in the South South and South West.

Nnamdi Kanu: Ohanaeze Alleges Plots by South-east Governors, Igbo Leaders to Prolong Detention till 2027

Benjamin Nworie in Abakaliki

The apex Igbo socio-cultural body, Ohanaeze Ndigbo, has alleged that the South-east governors, Igbo leaders, and members of the National Assembly were plotting to prolong the detention of the leader of Indigenous People of Biafra (IPOB), Nnamdi Kanu, till 2027.

In a statement issued by Secretary General of Ohanaeze Ndigbo,, Mazi Okechukwu Isiguzoro, the body blamed the South-east governors for the deteriorating security situation in the zone

Isiguzoro said, "Ohanaeze Ndigbo decries and brings to light the plots by South-east governors, Igbo elders, and National Assembly members to

prolong Nnamdi Kanu's detention until 2027.

“The failure of some South-east governors to utilise their political ties to advocate for Kanu's release is regrettable and underscores selfinterest over communal welfare."

The organisation stated that the South-east governors and certain Igbo leaders had not provided the essential assurances required to explore political resolutions for the release of Kanu.

According to Isiguzoro, "Ohanaeze Ndigbo underscores the crucial need for unity and cooperation among South-east governors and esteemed Igbo personalities, such as Chief Emeka Anyaoku, Pa Ebitu Ukiwe, Sen. Ike Nwachukwu, and others,

in providing the federal government with assurances regarding Nnamdi Kanu's future conduct post-release.

"Regrettably, it appears some South-east governors and Igbo elite have chosen to exploit Nnamdi Kanu's detention for personal gain, political bargaining, and the pursuit of political relevance."

The body noted that it was disheartening that certain South-east governors and Igbo leaders only visited Kanu at the DSS facility to take photographs rather than actively seeking political solutions for his release.

The statement said, "Ohanaeze Ndigbo expresses deep concern over the behaviour of South-east governors, senators, representatives,

religious leaders, traditional rulers, and other prominent Igbo figures who prioritise visits to Kanu in detention over seeking his release and addressing the pressing security challenges in our region.

"It is paramount for Ndigbo to hold South-east governors, Igbo elders, National Assembly members, and traditional rulers accountable for the extended detention of Nnamdi Kanu, and refrain from laying blame on the federal government or President Tinubu.

“The federal government awaits a united stance and commitments from the Igbo community to facilitate a potential release of Nnamdi Kanu."

The G7 draws together the leaders of the United States, Germany, Britain, France, Italy, Canada and Japan. In addition, Italian Prime Minister Giorgia Meloni, the summit host, invited 10 other nations to join the talks, including the prime minister of India and presidents of Turkey and Kenya.

On entering the conference room ahead of his speech, Francis was warmly enveloped by a fellow Argentine, President Javier Milei, received a hug from Jordan's King Abdullah, a kiss from Canadian Prime Minister Justin Trudeau and had a long, whispered conversation with US President, Joe Biden.

Pope Francis acknowledged the ambivalence surrounding AI, saying it could inspire excitement and broaden access to knowledge around the world.

"Yet at the same time, it could bring with it a greater injustice between advanced and developing

Earlier this year, Italy approved a bill aimed at laying ground rules for the use of AI, setting sanctions for AI-related crimes, and Meloni has repeatedly warned of the risks AI poses to the jobs market.

In a draft of their closing statement, the G7 said they would draw up a plan to anticipate future skills and education needs to take advantage of the pending AI revolution.

The pope highlighted AI's potential to take on labour-intensive tasks and engender an "exponential advancement of scientific research", but he said the machines could also be duped into relaying false information.

"It does not develop new analyses or concepts, but repeats those that it finds," he said, meaning it ran the risk of legitimising fake news and strengthening already dominant cultures.

Embrace Grassroots Approach to End Insecurity, Cleric Tells FG

Fidelis David in Akure

The leader of Moitaliatu Church of God, Apostle Gabriel Akinadewo, has called on the federal government to adopt a grassroots approach in handling insecurity across the country.

Akinadewo, the Chairman, Board of Trustees, (BOT) Moitaliatu Organisation Worldwide stated this on Sunday during the 60th anniversary of Moitaliatu Church of God, Ondo town, headquarters of Ondo West Local Government area of Ondo State.

The cleric who expressed worry over the way church leaders and prominent citizens of the country were kidnapped and killed despite payment of ransom faulted the All Progressives Congress (APC)-led federal government's approach towards security.

Specifically, the cleric advised the federal government to do the right thing to stem insecurity in the country.

Besides, Akinadewo advised the judges in law courts across the country to give special attention to cases that border on insecurity and willful destruction of another person's properties and punish the culprits to serve as deterrent to other suspects.

According to him, there are some cases in court especially the ones that relate to herdsmen destruction of farmers crops, banditry and terrorism and have lasted for over five years without any headway.

His words: "Some of the cases have been forgotten because of the duration. This is not right for the psyche of an average Nigerian. Once you arrest a terrorist or bandit, the trial should not be more than two-three months. That is what Nigerians want.

"A redeemed pastor was killed in Oyo State last week while going on a mission with some people. This man was kidnapped and after collecting ransom he was killed. This doesn't make sense in a country like Nigeria.

"A few days ago, we sent our soldiers to Sierra Leone to maintain peace. Why can't we do the same in Nigeria? In anything you want to do, intelligence gathering is the key. It is not about going about with riffles. Once we have effective intelligence gathering, other issues will be well tackled as far as security is concerned.

"I don't think these bandits are more than 20 or 30 thousand people. They are the ones terrorizing Nigerians. We have prayed and prayed but the government should do what is right. No group of people can overpower the government.

As long as you are within the 774 local government areas in Nigeria, as long as you are within the 36 states of the federation including FCT, the president of the country through security operatives can get you anywhere you are. Anywhere you are they will smoke you out when they are ready.

L-R: Company Secretary, Financial Institutions Training Centre (FITC), Alaba Ekundayo; Chief Financial Officer, FBN Quest Merchant Bank, Olamide Adeosun; Acting Managing Director, FBN Quest Merchant Bank, Afolabi Olorode, and Managing Director, FITC, Chizor Malize, during a business meeting with FBN Quest Merchant Bank management in Lagos... recently

AT THE 2024 AGRIC CONNECT SUMMIT...

Clark Seeks Reintegration of Igbos into Nigeria's Mainstream Politics

As PANDEF faults Arase's sack as PSC chairman

Sunday Aborisade in Abuja

Elder statesman and foremost Ijaw national leader, Chief Edwin Clark, has advocated reintegration of the Igbo into the mainstream politics in Nigeria and also reiterated his call for the unconditional release of the leader of the Indigenous People of Biafra, (IPOB), Nnamdi Kanu.

Clark stated this in an open letter to President Bola Tinubu, the second in one month, which was made available to journalists in Abuja on Sunday, saying that doing so would halt the insecurity and economic challenges currently facing the South East geopolitical zone.

In another development, the Pan Niger Delta Forum, (PANDEF), the apex socio-cultural body of the Niger Delta people, has raised concerns over the removal of Dr. Solomon Arase from his position as chairman of the Police Service Commission, (PSC)

The group in a statement by its

National Chairman, Senator Emmanuel Ibok Essien, on Sunday, described Arase's sacking as an act of injustice.

Clark said: "I have never supported the activities of IPOB under the leadership of Nnamdi Kanu, but today, Nigeria, a broken country where many groups and nativities have cried foul to the way Nigeria had been going since 1999 because of the military constitution imposed on Nigerians by the military.

"Today, our economy is failing, our democracy is failing, our education and health institutions are collapsing, the youths are jobless and some people are treated as second class citizens while a few enjoy the fruit of the so-called democracy we are passing through.

"If we allow the violence and insecurity in the South-East to continue, the consequences will be very unpleasant to all Nigerians.

"It was because of this, that I called on President Muhammadu Buhari to accept the Court of Appeal Judgement

on Nnamdi Kanu.

"Apart from demanding for the restructuring of Nigeria, the political freedom of Nnamdi Kanu will no doubt complete the reconciliation of Nigeria and bring an end to the needless Monday sit-at-home order, which has disturbed businesses and civil activities in the South-East.

"The short-changing of the Igbos of the South-East over the years is the reason why IPOB has fashioned a place for itself in the hearts and minds of the young people in the southeast with its demand for self-determination.

"I have physically seen these IPOB boys in action, at the Ekwueme Square in Awka, Anambra State, when I attended a meeting of the Southern and Middle Belt Leaders Forum there.

"It is indeed a movement of youths who are justifiably angry with the way and manner the affairs of the country are being conducted and particularly the marginalization of the Igbos but are misguided.

"None of these youths witnessed the civil war and are, definitely, not abreast with the history of the war and its full ramifications.

"I advise, therefore, that rather than the use of military force which has already proved counter-productive, they should be carefully treated with the “carrot and stick approach”, in the interest of the peace, stability and progress of Nigeria as a whole and the South East zone in particular."

On its part, the statement by PANDEF on ex-IGP Arase’s sack read: "We express profound disappointment, and denounce the unjust manner in which Dr. Solomon Arase, a former Inspector General of Police, was relieved of his duties as chairman of the Police Service Commission by President Bola Ahmed Tinubu on Monday, 10th June 2024.

"PANDEF views Arase's removal as unwarranted and an unnecessary provocation that reflects negatively on Tinubu’s administration, indicating a

N4.7b Cocaine, Meth Seized as NDLEA Busts Lagos Warehouse, Arrests Siblings in Aba

Michael Olugbode in Abuja

A cartel run by the Nwaobasi siblings have been smashed by the operatives of the National Drug Law Enforcement Agency (NDLEA).

The spokesman of the anti-narcotics agency, Femi Babafemi in a statement on Sunday said: “A cartel controlled by a drug baron, 49-year-old Kelechi Monday Nwaobasi and his 50-yearold elder sister, Ms. Chinwe Rose Nwaobasi, has been taken down by officers of the Special Operation Unit of the National Drug Law Enforcement Agency, NDLEA, following the arrest of the siblings and seizure of cocaine and methamphetamine consignments worth over N4.1billion in street value from their hideout in Aba, Abia State.” Babafemi disclosed that the special operation conducted last Thursday and Friday at 3B, Boundary Avenue, Aba, and a residence along Ohia Road, Ohia, Abia State, followed months of intelligence gathering, leading to the arrest of the ring leaders and the combined seizure of 20.76 kilogrammes of cocaine and methamphetamine from them.

He said in a related development, NDLEA operatives in Lagos State have uncovered an expansive warehouse stocked with a large consignment of codeine-based syrup, located

at Comfort Oboh area of Kirikiri, where four persons connected with the importation and distribution of the opioid were arrested during an intelligence-led raid on the facility.

He added that those arrested include: Kingsley Amanambu Obumneke, 38; Emeka Emmanuel, 48; Bornaventure Ugochukwu, 59; and Martin Dike, 56, while a total of 82,000 bottles of the opioid worth more than N600 million in street value, Toyota Tacuma truck and two buses used for distributing the substance were recovered from the premises last Monday when NDLEA officers conducted the operation.

He said two days after, last Wednesday, operatives intercepted another suspect, Ibrahim Abdulhamid with 29,100 pills of tramadol and other opioids as well as 3.9 litres of codeine syrup at Alaba Suru, Ojo Local Council Area of the state.

Babafemi also said a total of 230,600 pills of tramadol 225mg and 200mg were recovered from the duo of Yasir Rabi’u, 23, and Abubakar Ado, 30, who are major distributors of illicit drugs in Kano and Jigawa States, when they were arrested last on Monday at Gadar Tamburawa area of Kano.

In the same vein, another suspect, Hassan Abdullahi Ali, 25, was nabbed with 150 bottles of codeine syrup

at Kofar Nassarawa area of Kano last Tuesday.

In Ogun State, NDLEA operatives on Monday 10th June seized 390kg of cannabis and arrested the trio of Muhammad Sani, Nura Mohammad and Samaila Rabe during an early morning raid at Ibese area of the state, while officers last Wednesday busted a skuchies making factory at Sabo area of Shagamu town where seven suspects were arrested.

The suspects are: Kareem Jamiu; Oriyimi Ayo; Bamidele Wasiu; Rasheed Olarewanju; Ramota Lawal; Amudalat Olarewanju; and Adeniyi Omotosho.

Exhibits recovered from them are: 387 litres of skuchies; 70 litres of industrial codeine; 25kg cannabis and different quantities of tramadol, rophynol, diazepam, as well as various equipment used in the production of the new psychoactive substance.

Babafemi said not less than 10,534.78 kilogrammes of cannabis were destroyed on 4.213912 hectares of farmland last Wednesday when NDLEA officers raided Uhen Forest in Ovia North East Council Area of Edo State where four suspects: Frank Ishoku, 38; Clifford Ossai, 49; Vanger Timothy, 30; and John Oluwaseyi, 30, were nabbed and 16 kilogrammes of processed cannabis

was recovered for the purpose of prosecution.

In a similar development, 18,425 kilogrammes of the same psychoactive substance on 7.37 hectares of farmland were destroyed by NDLEA operatives supported by personnel of other security agencies in the thick forest of Ise Ekiti, Ekiti State, last Friday.

In Abuja, the Federal Capital Territory, two suspects: Muhammad Abba, 33, and Samson Ehizogie, 42, were arrested with 3,550 bottles of "Akuskura", a new mixture of psychotropic substances, by operatives during a raid last Friday at Garki Area 10 and Dutse Suokale, both within the FCT.

While Emmanuel Ogechi, 24, was nabbed with 11,200 pills of tramadol last Wednesday along Otukpo-Enugu road, by NDLEA operatives in Benue State, Anayo Onwe, 40, was arrested with 62.4 kilogrammes cannabis sativa at Nteje just as 1 kilogramme of methamphetamine belonging to a fleeing suspect, in Oraifite, both in Anambra State was seized.

In Kwara State, Muhammed Musa, 24, was arrested with 33 kilogrammes cannabis at Bode-Saadu, Jebba, while Shokuro Adeola, 59, was nabbed with 11.5 kilogrammes of same substance along Lagos-Ibadan expressway, Oyo State.

lack of regard for the nation's laws that Mr. President swore to uphold and protect.

"This singular act further portrays this administration as one that does not prioritize competence, integrity, and efficiency; sacrificing merit on the altar of favoritism.

"The question arises as to why any serious government would dismiss a personality like Solomon Arase, who had initiated positive reforms and improvements at the commission, and given his meritorious track record as a diligent police officer, who rose through the ranks to become the 18th Inspector General of Police of the Nigeria Police Force, and retired with dignity.

"Solomon Arase, a former Inspector General and a native of Edo State in the South-South region of Nigeria, was appointed as the Chairman of the Police Service Commission (PSC) in January 2023 by former President Muhammadu Buhari. Solomon Arase's tenure as Chairman of the Police Service Commission lasted only about

16 months of the four-year term."

PANDEF argued that Section 3, subsection (1)a of the Police Service Commission Act 2002, subject to the provisions of Section 4 of the Act, states that a member of the commission, other than ex-officio members, shall each hold office for a term of four years and no more. The group added that the Act also details the conditions for removal from office in Sections 4.

PANDEF said Arase could only be removed if he became bankrupt, suspends payment or compounds with his creditors or if he is convicted of a felony or any offence involving dishonesty of fraud.

It added that he can be sacked if he becomes of unsound mind, or is incapable of carrying out his duties or if he is guilty of serious misconduct in relation to his duties, among others.

"The pivotal question remains, what warranted Solomon Arase's removal from office by President Bola Ahmed Tinubu? " PANDEF queried.

Senator Joel-Onawakpo Appoints ex-Delta APC Chairman, 22 Others as Special Advisers

Sylvester Idowu in Warri

The senator representing Delta South Senatorial District, Joel-Onawakpo

Thomas has appointed a former Chairman of the All Progressives Congress (APC) in Delta State, Prophet Jones Ode Erue and 23 others as special advisers to oversee different portfolios in his constituency.

Thomas, in a statement issued weekend, also announced a retired military officer, Rear-Admiral John Onoriode Kpokpogri (rtd) as Senior Special Adviser on Defence while Erue Is Senior Special Adviser on Political Issues.

The senator said the appointments were part of the fulfilment of his electoral promises to accommodate the interests of diverse groups, that represents the people of Delta South effectively and to bring governance closer to the people.

He said the development was also in fulfillment of his campaign promises to carry his constituents along in taking decisions on how to bring the dividends of democracy to them.

Others appointed are Dr. Andrew Egunoma, Senior Special Adviser on Special Duties, Social Welfare & Poverty Alleviation; High Chief Augustine O. Seibi, Senior Special

Adviser on Conflicts Resolution; Hon. (Chief) Uyouyou Edhekpo, Senior Special Adviser on Sustainable Development Goals (SDGs); Chief Dillion Oyuwe, Senior Special Adviser on Niger Delta Development Commission (NDDC and Chief Miller Akpoili, Senior Special Adviser on HOSTCOM.

Also included are Mr. Paul Emumena Michael, Senior Special Adviser on Media and Publicity/ Information & National Orientation; Chief Gabriel Yabaka, Senior Special Adviser on Chieftaincy, Cultural and Traditional Affairs; Mr. Ogbegbe Misan, Special Adviser on Local Content; Chief (Mrs.) Rita Avberovba, Special Adviser on Women Mobilisation; Dr. Yabrade Moses, Special Adviser on Niger Delta Affairs & Presidential Amnesty Program (PAP); Mr. Ese Azakaza, Special Adviser on Gas.

Those who also made the list include Mr. Victor Omuno, Special Adviser on Science and Technology; Mr. Cheke Emiko, Special Adviser on Employment, Labour, and Productivity; Apostle Liberty Usiayo, Special Adviser on Religious Matters; Mr. Tonye Karowa, Special Adviser on Upstream Petroleum and Mr. Ofehe Goodie, Special Adviser on Police Affairs.

L-R: Head Agribusiness and Export, Union Bank of Nigeria, Eze Nwakanma; Minister of Communications, Innovative and Digital Economy, Dr. Bosun Tijani; former President Olusegun Obasanjo; and Executive Director, Obasanjo Farms, Oludayo Obasanjo, held in Lagos...last Thursday

BOOST FOR EVENT INDUSTRY...

L-R: Chief Executive Officer, Balmoral Group, Dr. Ezekiel Adamu; President, International Facility Management Association (IFMA) Nigeria Chapter, Mr. Olalekan Akinwumi; Director, Noise Control, Lagos State Environmental Protection Agency (LASEPA), Mrs. Abosede Natufe, and past President, IFMA, Nigeria Chapter, Mr. Segun Adebayo, during the media parley to announce the Strategic collaboration between Balmoral Group and IFMAN on event industry in Lagos… recently ETOP UKUTT

Terrorists Attack Sokoto Community, Kill Six , Abduct Others

Onuminya Innocent in Sokoto

Terrorists on Saturday night invaded Doki Community in Gwadabawa Local Government Area of Sokoto State killing six and abducted unspecified number of people.

According to a resident, Ibrahim Adamu Tudun Doki, the terrorists stormed the village at around 11:30 pm on Saturday.

“Yes, it is true. The bandits stormed the village at around

11.30 pm yesterday (Saturday). They killed five people.

“As at this time, we do not know the number of people they have abducted. This is because some people ran for safety.

“Until we see those who would return, I cannot tell you the number of people abducted,” Tudun Doki stated.

Also confirming the attack, the spokesperson of Sokoto State Police Command, Ahmad Rufai told journalists that six persons were

Abia Sends 300 Youths to Nasarawa for Training in Integrated Farming

Emmanuel Ugwu-Nwogo in Umuahia

No fewer than 300 youths from Abia State have arrived in Nasarawa State to commenve a two-week training in modern farming practices to empower them to make their living in agriculture.

The training which is fully funded by the Abia government, which announced at the weekend that the beneficiaries of the programme had arrived at the CSS Global Integrated Farms

in Nasarawa for the training.

Prior to their departure to Nasarawa, the youths were addressed by the Chief of Staff to the Governor(CoS), Pastor Caleb Ajagba, who charged them to take the programme serious as they were not sponsored to go on a jamboree or sight seeing.

“The Government has paid for each of the 300 beneficiaries going to CSS farms, and you would be exposed to all forms of mechanised farming and the entire value chain of agriculture,” he said.

LASBCA Officials Accused of Ignoring Court Order, Sanwo-Olu’s Directive

Wale Igbintade

Residents of Kenneth Odidika Close in Eti-Osa Local Government Area of Lagos State have accused the Lagos State Building Control Agency (LASBCA) of llegedly colluding with some individuals to forcefully take over plots of land in the area.

They also accused LASBCA of disregarding a court order to maintain status quo pending the determination of a suit filed against the agency, and also the directive of the state Governor, Babajide Sanwo-Olu, on the matter.

Speaking on behalf of the

aggrieved residents, a Lagosbased lawyer, Kenneth Odidika, appealed to Governor Sanwo-Olu to call officials of the Lagos State Building Control Agency (LASBCA) to order over alleged plot to dispossess them of their property.

The lawyer, who made the appeal while addressing journalists, stated that from the outset, LASBCA had been struggling to find reasons to dispossess him and his neighbours of their property and each time they countered their claims, LASBCA would look for another reason to harass them.

Moneymaster to Promote Mobile Wallet at Ojude Oba

Nigeria’s leading payment service bank, Moneymaster Payment Service Bank Limited (MMPSB), will be at this year’s Ojude Oba Festival to be held in Ijebu Ode, Ogun State.

The Ojude Oba festival is an annual event that typically holds on the third day of the Eid-al-Kabir whereby different cultural age groups put up a spectacular parade to pay homage to the Royal Majesty, the Awujale of Ijebualand.

As a precursor to the Ojude

Oba festival, Moneymaster, has embarked on a month-long market activation, engaging indigenes of Ijebuland to onboard them on to one of its digital banking platforms – mobile wallet. With the Moneymaster mobile wallet, customers can transfer, withdraw from an agent, buy airtime and pay utility bills. During this month-long activation, customers in Ijebuland who open an account stand a chance of winning free airtime amongst other gift items.

confirmed killed by the bandits.

“Six people have been confirmed dead. They were confirmed dead at the hospital. However, the number of the people kidnapped has not

been confirmed yet. I will update you with any further information,” he said.

Gwadabawa LGA is one of the eight local government areas in

Emphasise Professionalism, Discipline,

Gbenga Sodeinde in ado Ekiti

Ekiti State Governor, Biodun Oyebanji, has called on the leadership of the local governments in the state to place high premium on professionalism, discipline, integrity, compassion, and teamwork in order to drive substantial improvement in local government administration.

Sokoto Eastern zone that have suffered bandit attacks over the years.

Among communities in the area with incessant attacked

Integrity, Oyebanji Charges LG Leadership

Governor Oyebanji, who made the call while declaring open a three-day retreat for the heads of local government and local council development areas of the state at the NULGE secretariat, Ado- Ekiti, said maintaining high professional standard is crucial for effective service delivery for the development and progress of the grassroots.

Recognising the importance of strong leadership and ethical standards in public service, the governor said the only way for them to earn the trust of the people such that they will discharge their civic responsibility to government is by dealing with them with utmost sincerity integrity, efficiency and professionalism. He urged them to uphold the highest ethical standards of honesty and transparency in all their dealings, adding that public confidence in local governments hinges on the perceived honesty and reliability of its leaders.

Father’s Day Celebration: UN Accused of Systemic Gender Bias against Men

Sunday Ehigiator

The Men’s Mental Health Advocate, and Executive Director of Life After Abuse Foundation, Halima Layeni, has slammed the United Nations for its alleged gender bias against men, citing the

lack of recognition or celebration of men’s contributions to Father’s Day.

Despite the UN’s commitment to gender equality, Layeni, in a scathing letter, argued that the organisation has consistently ignored days dedicated to celebrate

men, perpetuating harmful gender stereotypes and discrimination.

The letter highlights the numerous days dedicated to women, including International Women’s Day and Women’s History Month, but notes that there are no UN-recognised days

Police Arrest Two Armed Robbery,

David-Chyddy Eleke in awka

Police in Anambra have arrested two suspects for armed robbery and rape offences respectively.

A press release by the state police command’s spokesperson, SP Tochukwu Ikenga said the arrests were made on Saturday.

He said: “In the early hours

of 15/6/2024 Police Operatives attached to Abagana division arrested two serial offenders wanted on a case of alleged rape and armed robbery.

“Operatives recovered two locally made double barrel guns, one locally made single barrel gun, six live cartridges, and one Q link motorcycle.”

dedicated to men or boys. Layeni demands accountability from the UN, calling for recognition of men’s contributions and the value of fathers, positive male role models, and the sacrifices men make for their families and communities.

Rape Suspects, Recover Guns

Ikenga gave the names of the suspects as Chukwuma Diji, a male who also goes by the name Sympathy or Chi-boy and aged 35 years, while another, Micheal Edochie a male aged 31years hails from Eziabunabu Umudun, Abagana.

The release stated that

“Sometime last year the suspects allegedly raped a married woman at Obinagu Abagana and fled the Community when Security Operatives attempted to arrest them.

“Also on 6/6/2024, the suspects broke into an apartment belonging to a young lady and raped her and her friend at gunpoint.

Osun SSG Urges Muslims to Spread Message of Unity, Compassion

Yinka Kolawole in osogbo

As Muslims around the world mark the auspicious occasion of Eid-el-Kabir, the Secretary to the Osun State Government, Hon. Teslim Igbalaye, has extended his heartfelt greetings to all Muslim brothers and sisters in Osun State

and beyond, admonishing them to preach the virtues of love, generosity and kindness.

Igbalaye noted that the significant event in the Islamic calendar commemorates the steadfast faith and obedience of Prophet Ibrahim (AS), illustrating the virtues of devotion, sacrifice, and submission to the Divine will.

According to him, “Eidel-Kabir, also known as the Feast of Sacrifice, prompts us to reflect on the timeless principles of love, generosity and kindness while it equally invites a renewal of spirituality. It serves as a reminder to express gratitude for blessings received and to show compassion towards those less fortunate.”

As families and friends come together to celebrate, it is crucial to uphold the universal values of generosity, empathy, and unity that define this sacred festival.

Emir Sanusi Tasks Wealthy Individuals to Assist Vulnerable Persons

Kano Gov flags off distribution of meat to 5,600 people

Ahmad SorondinkiinKano

The 16th Emir of Kano, Muhammadu Sanusi II, has urged wealthy individuals to assist the vulnerable members of the society especially, during Eid Adha celebrations.

Sanusi II made the call during his sermon after leading the two rakat prayers at Kofar Mata Eid prayers ground yesterday in Kano. Sanusi 11 also enjoined Muslims to intensify prayers for peaceful coexistence in Kano and the nation at large.

Meanwhile, Governor Abba Kabir Yusuf commenced the distribution of meat from 700 cows to 5,600 individuals across the state, courtesy of a charitable organization based in Germany, HASENE, collaborating with the BARIS Foundation as part of

their Edil-Kabir Kurban for the year 1445AH. Launching the symbolic distribution at Bayero University, the governor expressed profound joy at the benevolent act, foreseeing the upliftment of spirits among the countless individuals in need.

Tinubu Asked to Ignore Calls to Scrap Amnesty Programme

The Ijaw Youths Network (IYN) has urged President Bola Tinubu to ignore calls by some stakeholders to scrap the Presidential Amnesty Programme(PAP).

The IYN said that those calling for the scrapping of the

PAP are uncomfortable with the story of peace and stability in the region, and are clearly not motivated by patriotism and genuine concern for the Niger Delta and indeed Nigeria.

The IYN, in a statement signed by its President, Frank

Ebikabo, and the Secretary, Federal Ebiaridor, said that the call being championed by ethnic chauvinists was designed to distract the new leadership of the PAP and does not deserve attention from serious minds.

The IYN was responding to comments made by one Frank Tietie, who claimed there was corruption in the PAP and that the agency had not achieved anything in spite of the money spent on it by the federal government.

are Tudun Doki, Asara Kudu, Asara Arewa, Chimola Arewa, Chiomola Kudu, Gidan Kaya, Gigane, Salame, Mammande, Huchi, Gwadabawa and Atakwan.

SENSE AND NONSENSE OF NIGERIA'S ECONOMIC CRISIS

economic crisis matters. We often have the tendency to reduce complex issues to one or two narratives . This is what my Kellogg Professor, Loran Nordgren calls " narrow framing". Based on the robust content analysis we carried out, we identified the dominant frame of this economic crisis by the government is that 'it is inherited and requires tough actions that will cause some pain to the citizens in the short run, but the pain is necessary for achieving better economic prosperity in the medium to long term'. The danger of this framing is that it sounds more like an excuse than a creative strategy to upturn our economic woes. This frame lulls our leaders to the proverbial sleep of inertia – inaction when there is fire on the mountain.

How this economic crisis is communicated to the public and stakeholders influences their perceptions and reactions. Effective crisis leadership involves framing and communicating the situation in an understandable and actionable way for diverse audiences. Little wonder Nigerians are at a loss regarding our political class's perceived poor choices . The government needs to rethink its crisis communication strategy.

Since economic crises are by their very nature dynamic and unpredictable, leaders must update their understanding of the issues, modify their response strategy and adapt their strategies accordingly. Involving various stakeholders, including experts, community leaders, and affected populations, enriches the process, and ensures more comprehensive

insights. This comprehensive insight allows crisis leaders to make informed decisions that cater to the greater good. Things like government being more prudent, quitting luxury spending , reducing taxes to encourage savings and investment , fixing security to encourage inflow of investment and borrowing less from external sources are easily intelligible choices.

To illustrate the importance of deep insight in Nigerian leadership during the economic crisis, let us examine three recent crises. The first is the economic recession of 2016. The 2016 recession was triggered by a significant drop in oil prices and compounded by policy challenges and security issues. Our Leaders needed to interpret the interconnected causes, including global oil dynamics, domestic economic policies, and security concerns in the Niger Delta. The Economic Recovery and Growth Plan (ERGP) was developed as a response, focusing on diversification and stabilisation. While the ERGP provided a strategic framework, the process highlighted the need for consistent policy implementation and addressing underlying structural issues. This still needs to be done, and our leaders have yet to learn any lessons they could apply in subsequent crises.

The second is the current economic crisis that has been exacerbated due to the implementation of fuel subsidy removal. Every Nigerian knows the need to remove fuel subsidies, but it takes work. Periodic attempts to remove fuel subsidies faced public resistance due to their impact on living

costs and inflation. Our Leaders needed to balance fiscal sustainability with socio-economic impacts. Understanding public sentiment and economic realities was crucial in framing and communicating subsidy reforms. Subsidy removals were often met with protests, highlighting the need for transparent communication, phased implementation, and accompanying social protection measures.

However, the hurried end of the subsidy without mapping the multiple scenario implications and making adequate provisions to cushion the impact threw our economy into a whirlwind of desperation, and the repercussions have been devastating, as indicated in the above economic statistics. Developing multiple scenarios based on different interpretations of the crisis helps prepare for various potential outcomes. Effective sensemaking includes proactive risk management and contingency planning. Lack of effective policy management is creating more public angst than the actual policy itself.

The third is the unintended devastating impact of harmonisation of the exchange rate during a period of dollar crunch and scarcity without remedial provisions for the inflationary implications of a devalued Naira in an import-dependent economy.

The Naira has collapsed by over 200% in the past year, forcing the prices of all imported goods to follow suit. The combo of exchange rate-induced inflation and subsidy removal inflation has resulted in the worst inflationary rate in a generation in Nigeria. Crisis leaders are problem solvers. They can adjust

plans, policies, and responses as new information is gathered or situations change. This means listening to stakeholders, voices of reason, and experts. The reoccurring question throughout this economic crisis is: Where are our crisis leaders? Political leaders are poor crisis leaders because they fail to recognise the warning indications of impending challenges and rarely put the lessons they have learnt from past crises into practice.

Decision-making in a position of leadership is challenging. It is more significant when a decision impacts the lives of numerous individuals. Our leaders at various strata have yet to appreciate this. Decisions are often made without the rigour of clear thinking or fall back to the narrow framing of A or B. Lack of strategic foresight and thinking abilities manifest in most of our decisions.

Therefore, Nigerian leaders must deeply analyse the crisis's economic, social, political, and cultural dimensions. This involves understanding both macroeconomic trends and grassroots realities. They should engage with various stakeholders to enrich the sensemaking process. Collaboration with experts, community leaders, and international partners provides diverse insights and fosters collective action. Sensemaking is not a one-time activity but a continuous process. Leaders must remain open to new information, willing to reassess situations, and ready to adapt strategies as the crisis evolves. Transparent and consistent communication will help them in managing public perceptions and reactions.

OPPORTUNITIES AND CHALLENGES IN THE ELECTRIC POWER SECTOR

electricity development.

All LGs and state governments in Nigeria plus the Federal Government collectively have a 40% in each of the distribution companies (DisCOs) privatized in 2013. They have not earned dividends from the investments since the privatization. They should divest completely from them. As has been stated many times, electricity is a value chain business. A chain is as strong as the weakest link. Contrary to perceived wisdom, the electricity value chain does not start from power generation but what is called fuel to power, that is, the sources of power like natural gas, hydro, coal, the solar, wind, nuclear, hydrogen, etc. The source must be treated with the seriousness it deserves.

I recently called for a state of emergency in the gas sector. I hereby reiterate the call for the emergency. All thermal power plants in the country which account for almost 80% of the country’s electricity are going through a very difficult period because of inadequate gas supply. This is a supreme irony. Nigeria has proven gas reserves of 206.53 trillion cubic feet of gas, with estimated recoverable gas put at 139.4TCF. This makes Nigeria a rich gas province with sprinkles of crude oil since the crude available is only 37.1 billion barrels. If the acute gas shortages are not addressed soon with the required sincerity of purpose by stakeholders, the country will face more severe power shortages.The Public Good, Not Private Agendas

One thing that has bedeviled the electric power sector is the lack of policy consistency. This lack has awful consequences. President Obasanjo established the NIPP to fast-track electricity development and devoted a fortune to it. However, on coming to power in 2007, President Umaru Yar’Adua suspended it. By the time President Goodluck Jonathan assumed office in 2010 and brought it back to life subsequently, a lot of things had gone wrong. For instance, work was suspended for years on numerous generation, transmission, and distribution projects. The clearing of electricity goods at the seaports had been abandoned. The payment of contractors had been suspended. The demurrage incurred at the ports was not payable, so I had to work with President Jonathan, the Minister of Finance, and the Customs leadership to find a way out of the conundrum.

Here is another instance of policy inconsistency, or what Nigerians famously call policy somersault. Immediately I resigned as the Minister of Power on 28 August 2012, rumours began to fly around that I owned Manitoba Hydro Company of Canada. The government consequently announced the cancellation of Manitoba’s contract with the Transmission Company of Nigeria (TCN), though it later reversed itself. A team was nevertheless dispatched to Canada to bring evidence that I owned the firm, only to discover that Manitoba Hydro is a state-owned enterprise that belongs to the government of Manitoba State, known as the Province of Manitoba in Canada. The

company was set up in 1961 when I was only five years old!

Yet another example of policy summersault is the key nancing instrument which Dr. Okonjo Iweala and I developed to support power development in Nigeria without cos"ng the Government a fortune. The development of the electric power sector has been stalled for years because of the suspension of Partial Risk Guarantee (PRG) to support power purchase agreements (PPAs). It was this instrument that enabled the emergence of the 461MW Azura-Edo Power Plant in Edo State. With the partial risk guarantee (PRG), a private firm can have the comfort of building a power plant knowing that an institution like the World Bank is providing such instrument to shore-up the payment of the distribution companies. I understand the financial implications to the country if it fails to meet its obligations to the GenCo, however these concerns should be addressed in the terms and conditions of the legal contract/Agreement, rather than halt the progress of the electricity generation sector totally. As things are now, no private sector investor will be attracted to invest in the electricity sector in Nigeria despite the enormous potential the market has if there is no bankable guarantee instrument. The key driver to unlock the power sector for investors is availability of credible and creditworthy off takers. We need innovative solutions that would provide the requisite comfort for potential investors and financiers in Nigeria’s power sector.

A fourth example of policy inconsistency is that I was able to secure the approval of the

Federal Executive Council to build a 765KV national Supergrid. It was meant to radically improve power transmission in the country. But the moment l left, the project was abandoned, as though it were my personal enterprise. The nation thus lost a golden opportunity to address its perennial transmission problem significantly.

I am glad that the current Minister of Power, Chief Adebayo Adelabu, is reviving the Supergrid project.

Now, the last example of policy somersault. The Presidential Task Force on Power (PTFP) was set up under my chairmanship by President Jonathan who also appointed me his Special Adviser on Power. Made up of a fine team of accomplished and dedicated Nigerians from both the private and public sectors, it operated in an agile manner, free of the bureaucracy and hierarchy of the civil service. It was an immense source of ideas and human resources when I became the Minister of Power in July 2011. The members share the credit of our achievements. Yet, it was scrapped after I left office for reasons I have yet to understand.

The cause of all this inconsistency was the absence of commitment to the public good. Personal agendas overrode public interest. Phenomena like this come with costs. Organizations that displayed a keen interest in the power reform sector, particularly the privatization of Power Holding Company of Nigeria (PHCN) assets developed cold feet. Jeff Immelt, thenglobal chairman of General Electric, the most capitalised company in the world then and

the world’s biggest electricity manufacturing firm, flew directly from the United States to the Ministry of Power, his first visit to Nigeria, to see how GE could work with Nigeria to develop the power sector. Key government and corporate organizations in the United States, Germany and Brazil signed MoUs with Nigeria to develop the power sector. There were always teams of international media like The New York Times, Financial Times of London, The Economist, etc, in the Ministry of Power. But with the inconsistencies they saw in public policy, they failed to participate in the privatization of the power sector in 2013. All Nigerians are today the casualties.Conclusion We have a chance to transform Nigeria for good. Our people do not ask for handouts. They like to work for their keep. But they can only work within the confines of the environment they live. These confines are defined by the infrastructure we provide to them. Can you imagine what our ingenious people will do if they suddenly have good roads, healthcare with a good drug industry, a good communication system, reliable, quality electricity, and reliable finance sources? Then the making of the African Tiger can commence. It is in the best interest of each of us to see that we play our role in providing this empowering environment.

Let us enable our very bright people to unleash their creative instincts so that tomorrow will be magnificent; so that we can join the small train of mighty emerging nations of the world; so that Africa can heroically have something to show for itself as the cradle of civilization. But more importantly, so that we live a higher quality life in our own society with our cultural values intact. So that generations unborn will look at our effort and be proud to have been our descendants: the descendants of visionary people who laid the foundation for leap-frogging our people into productive modernity.

Before I round up, a word of advice for the graduating students of this great Federal University. One of the key success enablers for a university graduate is your disposition for getting rewarded for your education and experience You should understand that the reason why Obama became the President of America is because he sacrificed. After Harvard Law School where he was the first Black person to be editor of the famous Harvard Law Review, he had over 600 highly lucrative job offers. He turned them all down. Instead, he went to Chicago to work as a community organizer, earning perhaps 10 times less than what he would have earned from those jobs. But then, he became the President of America and none of his classmates stood a chance of comparing to him on the world stage. When he was done serving the public, he could have surpassed his classmates in income, if he so chose.

NOTE:

Minister of Power, Adebayo Adelabu

Enugu Rangers are Nigerian Champions

Femi Solaja

Enugu Rangers re-enacted their glorious old days and are now the new Nigerian champions after defeating Bendel Insurance 2-0 and Remo Stars losing 2-1 to Sunshine Stars.

The trio of Remo Stars, Shooting Stars and Enyimba who were on the heels of Enugu Rangers all lost their away games with 2-1 scorelines.

With the result, Enugu Rangers attained an unassailable lead with just one match day to end the Nigerian league season. Despite their pedigree in Nigerian football,

this is just their second title since the Nigerian top league changed status to professionalism in 1990. Rangers, the only Nigerian club never to be relegated since the Nigerian national league began in 1972 won their only professional league title in 2016. In the pre-professional football era, they were Nigerian champions in 1974, 1975, 1977, 1981 and 1982. This time, Remo Stars who had delayed Enugu Rangers’ coronation lost in a western derby but retained their second position when Shooting Stars conceded late goals to Bayelsa United and lost 2-1 after leading 1-0

…Gov Mbah Congratulates Flying Antelopes

Governor of Enugu State, Dr. Peter Mbah has congratulated the Rangers International Football Club of Enugu on their winning of the 2023/24 Nigeria Premier Football League (NPFL) title with a game to spare following their 2-0 victory over Bendel Insurance Football Club at the Nnamdi Azikiwe Stadium, Enugu yesterday.

A 33rd-minute goal by Kenechukwu Agu and 65th-minute by Chidiebere Nwobodo handed the Fidelis Ilechukwu-tutored lads their eighth league title and their second since 2016, as their closest rivals, Remo Stars and Enyimba Football Club lost their matchday 37 fixtures 2-1 each against Sunshine Stars and Sporting Lagos, accordingly. This left the Flying Antelopes with an insurmountable 67-point lead with a game to go.

Reacting to the development, Governor Mbah said Rangers' title

win and the display on the pitch was a clear exciting reenactment of the greatness Enugu State was known for, also restating his government’s plans to commit more resources towards sports development in the state.

“I can tell you that we are very excited. The Government and the people of Enugu State are very excited. What we have witnessed here this evening is the reenactment of the greatness that Enugu is known for. So, we have again witnessed that greatness here today.

“Part of what I said to the players before the match started was that they weighted history on their shoulders because they were walking the path where legends had walked and that it was incumbent on them to deliver, and I’m so excited again that this has happened.

Ajibade’s Goal Helps Atletico Seals UCL Spot

Super Falcon’s captain, Rasheedat Ajibade, scored a crucial goal to help Atletico Madrid earn a 1-0 victory over Villarreal in their final match of the 2023/2024 Spanish women’s top-flight season, clinching a place in next season’s UEFA Women’s Champions League (UWCL) on Saturday.

for the greater part of the match. They dropped to the fourth position giving Enyimba a respite.

Shooting Stars who got rejuvenated midway through the season can still hold on to their continental ambition when they host relegation-escapee, Sporting Lagos on the last match day.

Rangers have a dead rubber away duel with Gombe United whose visa to the lower NNL has been issued. They possibly hold the record for the worst goal difference in the Nigerian league as they have

a deficit of 56 goals.

Meanwhile, Enugu Rangers head coach Fidelis Ilechukwu has shut down an attempt to compare him with the ‘Special One’ moments after picking up the first league title of his career.

Ilechukwu, who is in his first season with Rangers, engineered the latest league triumph after guiding the six-time FA Cup winners to 20 wins and seven draws in 37 games.

The 45-year-old manager’s remarkable feat has made some call him the ‘Special One’ in comparison

with Jose Mourinho’s unforgettable moniker after guiding FC Porto to Champions League glory and Chelsea to end a 50-year wait for the Premier League title.

However, Ilechukwu has waved away those comparisons, insisting he would rather be referred to as the ‘Working One’.

Ilechukwu wrote on X formerly Twitter: “I’m not the special one. They call me the ‘Working One.”

The former MFM and Plateau United coach added: “From the beginning, our focus as a team was

Bellingham’s Header, Gives England Lone Goal Win over Serbia

England took to the pitch in Gelsenkirchen to kick off their Euro 2024 campaign and assert dominance over Serbia.

This victory ensured Atletico finished ahead of Levante UD, who also won their match against Madrid CFF. Atletico Madrid will join champions FC Barcelona and second-placed Real Madrid in representing Spain in the UWCL next season.

Atletico Madrid, who managed to hold on for the win, secured their qualification for the 2024/2025 UEFA Women’s Champions League.

Denmark's Eriksen Glad for 'Different' Euros Experience

Christian Eriksen said he had nothing other than football on his mind after scoring in Denmark's 1-1 draw with Slovenia at Euro 2024 almost three years to the day since he suffered a cardiac arrest.

Eriksen put Denmark ahead in the first half of their Group C opener in Stuttgart on Sunday as the Manchester United midfielder scored his first European Championship goal at his third tournament.

He featured at Euro 2012 and again at the Covid-delayed 2020 edition, where he collapsed during Denmark's opening 1-0 loss to Finland and was resuscitated on the pitch with the aid of a defibrillator.

Eriksen, now 32, has said that a fateful day in Copenhagen is one on which he no longer dwells too much.

"I do think this time my story at the Euros is very different from the last one," he said.

"Luckily it's been a lot of games since the last time and since it happened. I felt confident in playing again, so in that sense I was just happy to be back playing."

Eriksen, who made his international debut as a teenager just ahead of featuring at the 2010 World Cup, is playing at his sixth major tournament overall.

"I did have it in mind I hadn't scored at the Euros, but nothing else than football was on my mind. In the end it would've been a different story if we'd got the three points, we'd have been much happier." Denmark next face England, the team who knocked them out in the semifinals at Wembley after extra time at the last Euros following Eriksen's collapse.

It was a confident start from the Three Lions, who looked to play with fluidity and style to make their mark on the international stage. Just a single goal separated the sides, but it was enough to see England take the victory in their opening group game.

Serbia fought back hard in the second half but were unable to hurt England's defence.

England looked coordinated and confident from the offset, dominating possession and swiftly moving into useful positions to shut down Serbia's early hopes.

20-year-old Jude Bellingham opened the scoring in the 13th minute, perfectly meeting a cross from Bukayo Saka to head the ball in from six yards out. The Real Madrid star became the first England player to score in the tournament, further building his case in his race for the Ballon D'or.

Serbia were quick to react and

came close to bringing the game level as Trent Alexander-Arnold loss possession of the ball, leaving it to fall to Aleksandar Mitrovic - who attempted a shot past Jordan Pickford. The ball flew just wide, calming England's nerves momentarily.

Gareth Southgate's side continued to lead the game, dancing around the pitch looking confidence in both defence and attack. Their threat in defence highlighted problems in Serbia's attack, as Dragan Stojkovic's team were forced to move side to side to advance past England's solid backline.

Serbia marched onto the pitch in the final 45 minutes of the game with much more confidence and ambition, looking to win the ball and shatter

England's lead. Southgate's suddenly side looked nervy as their opponent grew into the game, bringing pressure as the clock ticked on.

Despite the uncomfortable nature of the second half, England managed to cling on and ultimately defended well enough with the finish line in sight. A late chance came for Serbia's Dusan Vlahovic, but Pickford's strong hand kept it away from the back of the net.

Moments earlier, an otherwise quiet

Harry Kane had seen a powerful header spectacularly turned onto the bar by Predrag Rajkovic.

In the hours before kick-off, a man was shot by police close to where fans had been gathering in the city, but the game went ahead and delivered an entertaining encounter. Poland was without their all-time top scorer Robert Lewandowski, out with a thigh injury, but put that blow behind them to stun the Dutch early on when Adam Buksa headed home.

The Netherlands had been the dominant side but missed several chances before Liverpool forward Cody Gakpo equalised when his deflected shot flew past Wojciech Szczesny.

Earlier in the day, Substitute Wout Weghorst swept in a late winner two minutes after coming on as former champions the Netherlands began their campaign with victory against Poland at Hamburg’s Volksparkstadion.

Enugu State Governor, Dr Peter Ndubiisi Mbah (right), presenting the Man-of-the-match award to Chidiebere Nwobodo after the match... yesterday

Goal scorer, Jude Bellingham, celebrating with other England players after the goal last night

Oshiomhole to PDP, Others

“Ifitrequiresme(Oshiomhole)totaketheroleofasweeper,Iamreadytosweep SenatorMondayOkpebholointoofficeasGovernor.Therewillbeachangeatthe OsadebeAvenue;APCwilltakeoverEdodemocratically,comeSeptember21election" -FormerAPCChairmanandex-GovernorofEdoState,SenatorAdamsOshiomhole, promisestoensurevictoryofthepartyintheupcominggubernatorial election.

DAKUKU PETERSIDE

BENEATH THE SURFACE

Sense and Nonsense of Nigeria's Economic Crisis

Nigeria is probably in the worst economic crisis of a generation, screamed The New York Times on June 11th, 2024. Two other influential global publications, Foreign Affairs and The Economist, had earlier said the same thing under different headlines. Although Nigeria's economy is not yet in a recession, all other economic indicators have gone south, and the curve is not bending in the short run. Statistics on inflation (above 33%), youth unemployment (above 50%), poverty levels (over 133 million multidimensionally poor), the value of the Naira (over 200% decline against dollar in the past year), education (18.3 million out of school children), healthcare (inadequate health facilities and professionals), insecurity (144th position in the 2023 safest countries in the world ranking), and homelessness (24.4 million people without a home) are frightening. More than ever, Nigeria needs crisis leaders to turn things around.

Great leaders have always come up to guide their countries out of the worst crises throughout history .The American people looked up to Barack Obama in 2008 to lead the nation through its worst economic crisis since the Great Depression. He conducted many consultations and made critical but well-considered decisions to lay a new economic foundation . We are in an "economic war' and

GUEST COLUMNIST

cannot use the tools applicable in normal times. Leadership during normal times is different from leading in the storm which is the subject of my forthcoming book. The expertise and skill set

required for both cases are different. The dynamism and multiplicity of socio-economic and political factors converging to create the Nigerian volatile ecosystem are such that effective crisis leadership is needed at all governance strata. Although required in normal times, these crisis leadership competencies are most relevant during a crisis. They include sensemaking, effective decision-making, team coordination, facilitating learning, emotional intelligence, and effective communication. It is the masterful use of these competencies that makes great crisis leaders.

The commentariat have attributed our present economic crisis to a cycle of thoughtless policies,squandering as governance ,negative or low investment in innovation, uncoordinated economic thinking and placing of politics above commonsense economic frugality. It is also true that our poor understanding of the interplay of global events and its impact on local economic factors also contributed . The consequence is the country’s inability to respond to vulnerabilities, shocks and opportunities.

Nigerian leaders need to make sense of these complex circumstances. The situation requires a more focused perspective on historical and immediate causes and possible solutions to the current crisis.

especially in complex and diverse environments like Nigeria. Sensemaking involves gathering information and putting it in context, exploring different perspectives to develop a coherent narrative, and interpreting and understanding complex, ambiguous, and rapidly changing situations to guide decision-making and action. During this economic crisis, sensemaking allows leaders to comprehend its scope, identify its root causes, anticipate its impacts, and develop appropriate responses. This piece will focus on and explore sensemaking as the first step in crisis leadership. Our leaders must develop a contextual understanding and historical context of our economic crisis. Nigeria is characterised by significant cultural, ethnic, and economic diversity. Effective crisis leadership requires leaders to understand these complexities, how they influence the crisis, and the potential responses. Economic crises in Nigeria often have roots in historical issues such as colonial legacies, policy missteps, structural inequalities and global turbulence . Leaders must consider these historical contexts to grasp the crisis's nuances fully. They must identify and interpret economic, social, and political signals.

Furthermore, the way our leaders frame this

Sensemaking is critical to effective crisis leadership, Continued on page 38

Opportunities and Challenges in the Electric Power Sector BART NNAJI

Nigeria currently generates less than 5,00MW for a nation of over 200 million, according to the National Bureau of Statistics. Even so, the transmission network often cannot transport the paltry amount of energy generated due to its fragility.The distribution network is also in a poor state.

In contrast, Egypt produces over 59,500 MW, and the level of power keeps on rising. South Africa’s 56,000 MW for its almost 60m people, less than a third of Nigeria’s, has long proved grossly inadequate; it has been experiencing load shedding. For Nigeria to become a middle-income economy, it has to generate and effectively transmit and distribute at least 100,000MW within the foreseeable future. This will mean tremendous employment and business opportunities for millions of people.

The Aba Integrated Power Project (Aba IPP) is made up of two NERC licensed companies: Geometric Power Aba Limited (GPAL) which has the 188MW power plant with a 27 kilometer 12inch gage gas pipeline and APLE Electric Limited (popularly known as Aba Power) which is the distribution part of

the project. Following the commissioning of the Aba IPP at its headquarters at the Osisioma Industrial Layout in Aba on Monday, 26 February, 2024, by Vice President Kashim Shettima, GCON, on behalf of President Bola Tinubu, GCFR, interest in how the private sector can drive power development in Nigeria has grown appreciably. Nigerians now feel that constant, reliable, quality, and affordable electricity throughout Nigeria is doable, as in Mauritius, Egypt, Botswana, Algeria, and Morocco.

I would like to use this opportunity to publicly thank the government and people of this great nation for their solidarity with Geometric Power Limited, the owner of the Aba Integrated Power Project. Very few things in our recent national history have united our people as their support for the Aba Independent Power Project in the days leading to the commissioning and after the event. We truly appreciate the confidence in us and in the Nigerian possibility. The support is comparable to the nationalism and patriotism we see anytime any of the Nigerian national football teams play

a foreign team. There is still hope for our dear nation, although the Aba Power Project, originally scheduled for completion within three years, was commissioned a whole 20 years later. There are greater opportunities in the power sector than ever. The 2005 Electric Power Sector Reform (EPSRA) ended the Federal Government monopoly in the sector.

The 2023 Electric Power Amendment Act, which amends the 2005 EPSR Act, enables states to create their own electricity regulatory commissions. Some states have already set up their own commissions. However, here is a word of caution: the electricity business is very expensive and also highly technical. It costs between $1.3m and $1.5m to produce a megawatt from a gas-powered plant, which is the cheapest. This doesn’t include the cost of installing evacuation and distribution infrastructure for the generated power or the cost of O&M and staffing to operate the thermal plant 24 hours a day. The Geometric Power Group spent almost $800m to build the Aba IPP including new substations and powerlines to distribute power to nine of the 17 local government areas (LGAs) in Abia

State which we serve, as well as the 27-kilometre natural gas pipeline from Owaza in Ukwa West LGA of Abia State to the Osisioma Industrial Layout. This is the largest single investment in the Southeast.10. How much power does a state need? Some can make do with 100MW or less, but some require anywhere from 150 MW to 1000MW. How many states can afford the huge amount required? If the source of electricity is solar, coal, hydro, or wind, it will be far more expensive. How will the states source the funds? Who are likely to be the off-takers or end-users? Can they pay the commercial rates? Akwa Ibom and Rivers states have built their own power plants, but what is their experience? Obviously, not so flattering. Must state governments that build power plants manage them and the distribution network? Since the Nigerian government has not been effective and efficient in managing businesses in the last few decades, it should concentrate on providing an enabling environment, including making the necessary laws, rules, and regulations as well as policies guiding

Tinubu