ames Emejo in Abuja The Chairman, FBN Holdings, Mr.
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raheem Akingbolu in Lagos, Ahmad sorondinki in Kano, Arinze Gedeon in Enugu, John shiklam in Kaduna, Gbenga sodeinde in Ado Ekiti and Blessing ibunge in Port Harcourt Ahead
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The proposed countrywide demonstrations to protest against alleged bad governance by the President Bola Tinubu administration, starting today, appears to have divided the nation along the north and Niger Delta divides.
While some prominent northern leaders have declared support for the idea, because it seemed to reflect the reality and mood of the nation, the Niger Delta people have questioned the motive of the planned protests.
This, notwithstanding, some state governments, including the Federal Capital Territory (FCT), while pre-empting the worst case scenario, had obtained court orders restricting movements of protesters and within a specified time frame.
Conversely, indications of limited turn out from state to state as the protests commence today, have begun to manifest nationwide.
Some Northern Nigeria elders and stakeholders had yesterday announced their full support for the planned nationwide hunger protest tagged #EndBadGovernanceInNigeria.
In a statement by Professor Usman Yusuf, the elders and the stakeholders
We want prosperity democratised, support govt on levy, says Elumelu
Balogun: we're confident of government's support for economic growth
Deji Elumoye in Abuja
Nigeria's banking sector representatives yesterday, met formally with President Bola Tinubu at the State House, Abuja, to seek clarifications on the recently imposed windfall levy.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, as well as the team, including the Chairman of the United Bank for Africa (UBA), Tony Elumelu, and the Group Chief Executive Officer (GCEO) of the First City Monument Bank (FCMB), Ladi Balogun, we're at the meeting with the President.
Addressing newsmen after the meeting, Edun, disclosed that the bankers’ representatives requested for details of the tax regime, particularly the windfall levy, passed by the National Assembly.
According to him, Chairman of Federal Inland Revenue Service (FIRS), Zacch Adedeji, explained the government's intention to simplify the tax regime, focus on taxing profits and leave companies' capital alone to grow.
Edun described the meeting with Tinubu as amicable, knowledge-based, and data-driven,. He stated that the bankers were expected to share their perspective on the outcome, which included assurance on all sides and support for the President's macroeconomic reforms.
His words: "Two top bankers, Mr.
Tony Elumelu of UBA and Mr. Ladi Balogun of FCMB wanted to have an audience with Mr. President in company of, amongst others, the chairman FIRS, and special advisor to Mr. President on revenue, Mr. Zacch Adedeji.
“We sat and we talked about the importance of the banking system and the importance of the financial system as a whole at this critical time for encouraging investments, portfolio investments, into the stock market and government securities, as well as foreign direct investment.
"Of course, we know at this time that the banking system is raising money. They're selling shares, they're giving people opportunity to participate in their wealth, and that includes foreign investors. So it's against that background that Mr. Elumelu and Mr. Balogun wanted some clarifications, particularly on the windfall levy that has just been passed by the National Assembly.
"Chairman of FIRS gave some insight, particularly into the fact that under President Bola Ahmed Tinubu, the idea is to simplify the tax regime, as much as possible, make it more efficient and less costly for people to even file their taxes and critically to focus on the wealth that's created, not to focus on the companies that maybe are not doing so well, or to focus on their capital, to leave their capital alone, to grow and make sure that the emphasis
is on taxing and levying only the returns, only the profits.
"In this particular case, as we know, the banking system has enjoyed some, what we'll call windfall or on hand profits and in the interest of distributing wealth across the Nigerian society, the government has stepped in to take some of that wealth on behalf of Nigerians.
"So that was what the discussion was all about. It was very amicable and it was very knowledge-based and data-driven discussion, which Mr. President as a financial man, as an accountant, easily understood, followed, and appreciated.
"I think the bankers themselves
will give what they see as the outcome because it wasn't just one item, it was assurance on all sides. They explained the extent to which Mr. President's macroeconomic reforms are being supported and are being accepted by, not just Nigerian investors, but the international community. So on that note, over to the bankers".
On his part, Elumelu expressed the need to democratise prosperity for Nigerians, ensuring access to a good life for all, expressing support for the government's windfall levy, which he said was aimed at alleviating poverty.
The UBA Chairman stressed the
importance of mutual prosperity, where businesses thrive, jobs are created, and investors - both foreign and local - benefit, ultimately leading to a happier society.
Elumelu believes the meeting achieved its objective of creating a prosperous perspective for all Nigerians, and he looked forward to a better future.
According to him: "We believe in prosperity. We believe in creating jobs and employment for our people. We believe in making sure that we democratise prosperity and that Nigerians have access to good life. So today we spoke about the Windfall Tax. We support the government.
"We believe that where extraordinary income has made a part of, it should go towards helping to alleviate poverty in the country, which is what the government intends to do.
"We support that and we just believe that we should make sure that no one segment suffers and that the government is able to continue to create jobs and that businesses are also able to do well because we need mutual prosperity.
"Prosperity of the business owners, prosperity of the ordinary, Nigerians perspective of the investors - foreign and local, so that everyone is happy. So I'm happy that the meeting has gone very well.
FBN Holdings Plc yesterday announced N411.99 billion profit before tax (PBT) in its unaudited half year (H1) accounts for the period ended June 30, 2024, which was about 101 per cent increase from the N205.05 billion declared in corresponding half year ended June 30, 2023.
One of the oldest financial
that we consume here.
institutions on the Nigerian Exchange Limited (NGX) in its H1 2024 announced N365.3 billion profit after tax, which was about 95 per cent growth from the N187.18 billion reported in H1 2023.
The increase in profitability was driven by the management’s growth in top-line and effective management of cost.
On the backdrop of the hike in Monetary Policy Rate (MPR),
the financial institution declared N947.69 billion interest income in H1 2024, a growth of 155 per cent from N371.08 billion in H1 2023, while interest expenses closed H1 2024 at N432.76 billion, representing 218.96 per cent increase from N135.58 billion reported in H1 2023.
Following a double-digit inflation rate, total operating expenses moved from N445.69 billion in H1 2024, from N228.54 billion reported in
about 17per cent increase from N16.94 trillion in 2022.
The Group Managing Director, FBN Holdings, Nnamdi Okonkwo in a statement stated, “FBN Holdings has again delivered a strong set of financial results despite the complex macroeconomic and operating environment.
The federal government yesterday signed a $118 million deal with Elsewedy and Power China to construct and rehabilitate over 2,670 kilometres of electricity distribution lines across the country under the Presidential Power Initiative (PPI).
In his remarks at the event, the Minister of Power, Adebayo Adelabu, said that the project will complement ongoing midstream transmission projects to secure power delivery to residential, commercial, and industrial clusters across Nigeria.
“The ceremony is quite significant as it is a testament to the readiness of the federal government to quickly accelerate the upgrade of transmission infrastructure in the Nigerian power sector, which will ultimately achieve the stability that we have all been craving for in electricity supply.
“This will enhance power to our households, to our businesses, to our industries, to create jobs for youths and to also ensure that we produce what we consume here.
“It will also enable us to achieve export processing and promote export for increased earnings for foreign exchange and also reduce pressure on foreign exchange that we require for importation of goods and services
Adelabu said the signing ceremony was for one of the lots under the PPI transmission infrastructure enhancement projects, also known as the Siemens Project, covering Enugu and Benin axis of the transmission network.
“We believe that with a very strong and resilient power sector, the industries will be energised and we have more of our people being engaged in productive activities. We'll be able to also energise our health and educational institutions to run properly and also boost the fortunes of our small and medium scale enterprises, with agri-processing to achieve food security.
“Rural dwellers will engaged in productive activities and also achieve the targeted energy access expansion for our people from the current penetration of less than 52 per cent to as high as 80 to 90 per cent in the years to come,” Adelabu said.
Also speaking, the Managing Director of FGN Power, a Special
Purpose Vehicle (SPV) mandated to implement the PPI, Mr. Kenny Anuwe, said the proven expertise and commitment to excellence of the partners make them ideal parties for delivering on the critical infrastructure.
“Siemens, known for its strengths in advanced technology and innovation, does not specialise in distribution lines. Therefore, it was a strategic decision to collaborate with Elsewedy, bearing in mind the successful partnership between both companies in Egypt.
“This partnership with Elsewedy Electric will ensure the highest quality and efficiency in delivering the necessary infrastructure. Together, we will combine our strengths and deliver comprehensive solutions to
meet Nigeria’s growing energy and infrastructure needs,” he said.
The project is expected to deliver the construction of 687 kilometres of new distribution lines (greenfield) and the rehabilitation of 1,983 kilometres of existing lines (brownfield).
Disclosing that the project would cost about $118 million, Anuwe added that President Bola Tinubu was of the view that with reliable power supply, many defunct firms will be revived.
“Mr. President also has a very soft spot for the eastern part of Nigeria and he believes that the industries there must be revived.
As the Honourable Minister said, these are important projects to the administration and the importance of this cannot be over-emphasised.
“Our Group’s strong performance over the period is underpinned by our robust institutional capabilities, effective risk management practices and solid business momentum, and it is testament to the resilience of our institution.
“Notably, gross earnings and profit before tax grew 118.8per cent year-on-year and 100.9 per cent year-on-year to N1,402.5 billion and N412 billion respectively for the first half of the financial year, showing a continuous growth trajectory.
“These results reflect our ongoing commitment towards further improving profitability, enhancing performance and delivering sustainable value to our stakeholders.
“Despite the macro-economic headwinds, we remain resolute and confident of successfully navigating the terrain towards surpassing stakeholders’ expectations.”
Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu, has said the Micro Enterprise Support Initiative of his administration was designed to uplift
vulnerable businesses, women and indigent youths by providing them with the tools and support to start and grow their own businesses Sanwo-Olu, who stated this during the 2024 edition of the
Micro-Enterprise Support Initiative (MESI) at Ikeja, where fresh set of beneficiaries numbering over 1,500 were empowered through the Ministry of Women Affairs and Poverty Alleviation (WAPA),
disclosed that over 5,000 persons have benefited in the last five years.
The programme was aimed at reaching out to the socio-economically disadvantaged women and indigent youths and old students of skills
Alex Enumah in Abuja
Hearing in a suit by the Asset Management Corporation of Nigeria (AMCON) against the order for seizure of Arik Air properties, was yesterday, stalled before a High Court of the Federal Capital Territory (FCT), Abuja.
The hearing could not go on as scheduled owing to the absence of the Deputy Sheriff. AMCON in the suit marked: CV/3325/2024, is praying the court to set aside the order of another High Court of the FCT which ordered the Atlas Petroleum International Ltd to seize and dispose four aircrafts
The House of Representatives has called on the federal government to prioritise and provide funding for the procurement of additional air ambulances and helicopters equipped with advanced medical facilities for the National Emergency Management Agency (NEMA). It also called for a review and an increase in the budgetary provision of NEMA to enable the agency invest in the training of its personnel to operate and maintain the equipment, and ensure that that emergency responders are well-prepared to utilise these resources effectively.
The resolution of the House followed the adoption of a motion moved at the emergency plenary yesterday, by Hon. Idris Wase.
Moving the motion, the lawmaker acknowledged the critical role of NEMA in responding to emergencies and disasters across the nation, and the need to enhance NEMA’s capacity to effectively respond to these increasing challenges.
Wase, explained that the agency was saddled with the responsibility of coordinating and implementing efficient disaster response and relief measures, ensuring the safety and well-being of the citizens during crisis.
The lawmaker, however, noted that recent incidents highlighted a significant gap in the country's
emergency response capabilities, particularly in search and rescue and medical evacuation.
The former Deputy Speaker pointed out that the current fleet of air ambulances and helicopters were inadequate to cover the country's vast and diverse terrain. He said this limitation hampers the agency's ability to respond swiftly and effectively to emergencies, particularly in remote and inaccessible areas.
Wase, expressed worry about the rise in natural and man-made disasters, including floods, earthquakes and industrial accidents, saying the demand for rapid response and medical evacuation has surged.
He added that the country's current capabilities are stretched thin, leaving many vulnerable citizens without timely assistance.
The lawmaker said in emergencies, time was of the essence, adding that delays in search and rescue operations or medical evacuations could result in increased fatalities and injuries.
Wase was of the opinion that enhancing NEMA's air capabilities would significantly reduce response times, thereby saving lives and mitigating the impact of disasters. He further stressed the need for NEMA to acquire additional air ambulances and helicopters to enhance its capacity for search and rescue operations, as well as medical evacuations.
and properties linked to Arik Air
over $2.5 million judgement debt.
The plaintiff in the suit filed on July 27, was claiming that it was the only body in the country saddled with the responsibility of taking over the management and subsequent disposal of any assets standing to the credit of any party in a dispute.
Besides, the corporation submitted that the airline was already under another receivership following its indebtedness to Zenith Bank Plc to the tune of N37 billion.
Few days ago, the federal government had grounded two aircraft belonging to Arik Air following the order of court.
However, hearing in the suit could not go on due to the non-service of the court documents on the Deputy Sheriff as required by law.
Deputy Sheriffs are officials of high courts who enforce and execute judgements of courts.
Trial judge, Justice Iheme Nwosu subsequently fixed August 5th and 12th for hearing of the suit.
Speaking with journalists shortly
after the proceedings, Counsel to Atlas Petroleum Limited, Sebastine Hon, observed that while his clients were in the process of enforcement, "AMCON surprisingly, I will say, came to intervene that Arik Air is under receivership when they were aware of the matter right from the Lagos High Court to the Supreme Court and the judgments were given against Arik."
The senior lawyer stated that his client would go ahead with the enforcement as permitted by the law, adding that, "we will not flout the law or any order of court but as it is, the Minister of Aviation who was served with the enforcement orders has succeeded in grounding two aircrafts which are not related to the application AMCON brought to court to stop the enforcement.”
A former judge of the FCT High Court now in Court of Appeal, Justice Olukayode Adeniyi had on June 26, 2024, issued an order directing the attachment and sale of all movable properties of the Arik Air Limited found within the jurisdiction of the court.
The federal government yesterday, launched what it described as strategic health research development aimed at achieving optimal health outcomes for all its citizens.
Speaking at the National Strategic meeting on Health Research Development and Innovation held at the Transcorp Hilton Hotel in Abuja, the Minister State for Health and Social Welfare Dr. Tunji Alausa, said the federal government was working towards achieving optimal health outcomes for all the citizens.
He said that the event provided an opportunity for Nigeria, "to reflect on progress, identify gaps, and chart a strategic path forward that leverages
acquisition centres
Empowerment tools/equipment like tiling machine, shawarma grillers and toasters, fabricating machines sewing, machine, basic barbing kit with sterilising kit and generators, hair dressing equipment, among others, were donated to the beneficiaries.
Sanwo-Olu said, "I am happy to join you today at this Y2024 MESI, implemented through the Lagos State Ministry of Women Affairs and Poverty Alleviation (WAPA).
"Programs such as this shows our administration’s commitment to consistently empower residents of the State, in order to create an inclusive and prosperous society.
“Initiatives like MESI and our Skills Acquisition Centers, are working diligently to provide the necessary support for our citizens to thrive.
"This Micro Enterprise Support Initiative is designed to uplift vulnerable women and indigent youths by providing them with the tools and support they need to start and grow their own businesses. By empowering this segment of our population, we aim to continue to stimulate economic growth, reduce poverty, and create a more inclusive Lagos.
"This Y2024 MESI Program is a natural progression of these combined efforts. It seeks to build upon the successes of our past initiatives by providing even more targeted support to micro-enterprises. By empowering our citizens to become entrepreneurs, we are creating jobs and also fostering a vibrant and resilient economy."
Sanwo-Olu told the beneficiaries to make judicious use of the opportunity and resources, saying the equipment
was not given as gifts to be kept away, but they are tools to make them economically and financially independent and become worthy ambassadors of the State In her welcome address, the Commissioner for Women Affairs and Poverty Alleviation, Hon. Bolaji Cecilia Dada, stressed the importance of humanitarian/ social protection interventions for the teeming populace especially the Vulnerable Women and Indigent Youths across all the LGA’s and LCDA’s in the rural and sub-urban areas of Lagos State. The Commissioner added, "In addition to the above mentioned expanded product line, the Ministry is also going to give out over 200 point of sale (PoS) machines to some of the beneficiaries with start-up funds and free registration with the Cooperate Affairs Commission (CAC).
"Again, the Ministry recently through its department of Poverty Alleviation trained 300 women on Catfish business, out of which an outstanding number of 100 benefi- ciaries will receive free Catfish feeds to enhance their business growth.
“We covered over six communities namely Ikorodu, Agege, Mushin, Lagos Island, Badagry and Epe. I am also pleased to inform that N50,000 cash grants will be given to 50 Makoko Fish Sellers today to support their businesses.
“In more specific terms, this administration has succeeded in empowering over 10,000 beneficiaries in the last five years as a people oriented government covering different economic empowerment equipment/ gadgets through this programme."
our strengths and resources.
"I am very proud to witness the gathering of such a distinguished assembly of experts, policymakers, researchers, and stakeholders, all united by a common purpose: to advance the health and well-being of our nation through the power of research and innovation.
"Nigeria, with its diverse population and unique health challenges, stands at a critical juncture in its journey towards achieving optimal health outcomes for all its citizens. In this quest, the role of health research and innovation cannot be overstated.
"It is through rigorous research that we gain the insights necessary to develop effective interventions, and through innovation, we transform
these insights into tangible solutions that improve the lives of our people.
"Today’s meeting is a testament to our collective commitment to fostering a robust health research ecosystem that not only addresses our current health challenges but also anticipates and prepares for future ones."
The Permanent Secretary of the Ministry of Health and Social Welfare, Mrs. Daju Kachallom, said Strategic Health Research Development and Innovation was aimed at aligning health research with national priorities and foster collaboration along with researchers and policy makers as well as identify innovative solutions to our healthcare challenges.
She said Nigeria currently faces numerous health challenges ranging
from communicable and non- communicable diseases that needed urgent and sustainable interventions.
Kachallom, lamented that the country does not possess the required financial resources to address the health challenge.
She however said by harnessing the nation's abundant human resources through research and innovative solutions, the country can greatly overcome the problem in the health sector.
World Health Organisation (WHO) Country Director, who was represented by Marybrent Wood, assured that the organisation was prepared to assist the country the health research drive so as to help improve healthcare delivery.
The banking industry in Nigeria would need N4.1 trillion (about $3 billion) to meet the new minimum capital requirements, a report by Afrinvest said yesterday.
The report also revealed that at the conclusion of the current banking consolidation, about $4.5 billion capital will be realised at current exchange rate, compared to the 2005 consolidation, when the banking industry capitalisation stood at over $7 billion. It emphasised the anaemic growth witnessed in the past years.
The report further stated that total capital realisable from the exercise was still far from what it would take to realise the desired $1 trillion economy, implying that banks alone cannot make it happen.
The revelations came as Governor of the Central bank of Nigeria (CBN), Mr. Olayemi Cardoso, clarified that the bank’s directive on review of minimum capital was not an ambush on the industry.
Cardoso spoke in Abuja at the launch of the 2024 Afrinvest Banking Sector Report, titled, “Bank Recapitalisation: Catalyst for $1 trillion Economy?”
The CBN governor’s clarification followed an insinuation by a panellist during the launch of the report.
Cardoso added that the entire country was carried along in making the pronouncement.
Chief Executive, Afrinvest Group, Dr. Ike Chioke, said at the event that the new capital raise posed new challenges for the industry in terms of achieving the $1 trillion economy.
Chioke said, “It's not just the banks
that will need to grow. Every other aspect of the economy needs to grow alongside it.”
He further estimated that the total gap for capital requirements by the seven international banks was about N1.3 trillion currently. They said they would need to raise an additional N2.2 trillion to reach N3.5 trillion ($1.6 billion at the current exchange rate).
Chioke also said, “If you look at the national banks, their gap is N1.6 trillion in additional capital to get them to N2.2 trillion. The regional banks, as a group, have a gap of N500 billion. The merchant banks have a much lower gap of just over N200 billion.
“Whereas the non-interest banks today are reasonably well capitalised, their gap is only N14 billion. Most of the non-interest banks, indeed, by the end of this year, their audited accounts will show they've met their capitalisation. So, there's nothing to worry there.
“But if you put the whole industry together, you'll see that you're looking at something like a N4.1 trillion funding gap for the entire industry. And that's a huge task for today's money. And that's an additional $3 billion that the entire industry is looking for.”
He said at current levels of recapitalisation, “We're still very far away from where we want to be. And that just underscores the challenge of the sort of anaemic growth that the economy of Nigeria has suffered over the last two decades, from 2004 to where we are now in 2024.”
The report further stated that mergers and acquisitions were
likely to happen, though none had occurred yet.
Chioke said, “We have not seen anybody trying to do any mergers and acquisitions. But the evidence of the M&A that was done in the past doesn't paint a very rosy picture for some of those M&A transactions.
“And the last but not the least, the license downgrade or upgrade. Well, that's a very challenging one. But today we have quite a number of offers in the market.”
However, Cardoso clarified that the
bank’s directive on minimum capital was not an ambush, as insinuated by a panellist at the launch.
Represented by CBN acting Director, Financial Policy and Regulations Department, Mr. Simon Onoja, the CBN governor said, “We don't just come and announce a policy, we give notice. And then I think the banking sector is also aware that this was announced much earlier.
“And so, when we came out in March this year to actually bring out the guidelines, it was not a surprise
at all to the banking industry. And that is why a lot of them have coped with the plans, even before the announcement was made, and, finally, before the guidelines were released.
“Many of them have already organised themselves to plan on how to raise their capital. But again, the current team of CBN came with very clear objectives and priorities.
It is to achieve monetary and price stability, to achieve a stable exchange rate, to control inflation, create an enabling environment for businesses
and individuals, adopt measures to tackle institutional deficiencies, restore corporate governance, strengthen regulations, and implement prudential guidelines and policies. It is also to promote sustainable and inclusive economic growth.”
Cardoso said, “After taking stock of the different activities and initiatives in the CBN, the current team introduced various policy initiatives to strengthen the banking system and enhance its capacity to serve the region's larger economy.
African Central Bank Governors are set to gather in Abuja from today with the push for deeper intra-African trade and change in the global financial architecture, which is presently skewed against the continent, topping the agenda.
The African Caucus, whose primary goal is to address intraAfrican trade as a crucial catalyst for sustainable economic growth and to prepare input for the International Monetary Fund (IMF) and World Bank's annual meetings to be held in Washington DC in October this year.The African Caucus would be held in Abuja between August 1-3 at the Transcorp Hilton Hotel.
According to a statement, this year's meeting comes against the backdrop of a sustained campaign
for a relook at the global financial system, which African economic leaders agree favours developed economies to the detriment of developing countries, many of which are grappling with debt crises.
The 2024 African Caucus Meeting is hosted by the Nigerian Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who is also the Governor of the International Monetary Fund (IMF) and the World Bank Group (WBG) for the Federal Republic of Nigeria and Chair of the 2024 African Caucus.
“The primary goal of the meeting is to address intra-African trade as a crucial catalyst for sustainable economic growth and to prepare input for the IMF and
The Council for the Regulation of Engineering in Nigeria (COREN) yesterday announced that it was planning a one-year residency programme for graduates of Nigeria’s universities and polytechnics.
In a briefing in Abuja during which the council said it had scheduled its annual Engineering Assembly for August 5, President of COREN, Prof Sadiq Abubakar, stressed that the move was to ensure practical experience for Nigerian engineers. Abubakar stated that the regulatory body was liaising with the National Assembly to ensure funding from the relevant government organisation.
“In response to the goals of the
current administration, the council approved the resuscitation of Supervised Industrial Training Scheme in Engineering (SITSIE) under a new name of Engineering Residency Programme (EREP) and planned to engage the National Assembly to seek legislative backing for its funding by the Industrial Training Fund (ITF) in line with the existing law.
“This is a one-year post-graduation training programme for all engineering graduates of an accredited university or polytechnic, designed to meet practical experience requirements for the purpose of registration with COREN as a professional engineer or an engineering technologist similar to the practices of medical, pharmaceutical and other professions,” Abubakar added.
He stated that all relevant partners had been contacted and they all expressed their readiness to participate and support the initiative.
COREN as a statutory body has the mandate to regulate and control engineering education, training and the practice of engineering in all its aspects and ramifications in Nigeria.
Having become the 2nd African Country after South Africa to join the Washington Accord (WA), to consolidate the achievement, Abubakar stated that the National Universities Commission (NUC) and COREN had agreed to commence joint accreditation of engineering programmes in universities similar to the existing practice between the one for polytechnics and mono-technics
The council, he said, has approved the creation of a new register for the cadre of engineering artisans in line with its mandate.
“In the same vein, COREN being a member of National Skill Council (NSC), was charged to drive the Sector Skill Council for Engineering (SSC4E).
Arrangement had reached advanced stage with NBTE and other relevant organisations for the inauguration of the SSC4E,” the COREN president said.
As part of efforts to decentralise the operations of COREN and ensure effective engagement at the grassroots and promote sanity in the practice of engineering for a more positive impacts in Nigeria, the council, he stressed, has created new departments and units at its headquarters.
World Bank’s annual meetings,” said the organisers ahead of the conference in a brief.
Among the notable keynote speakers at the Abuja meeting is Bank of South Sudan (Boss)
Governor Dr. James Alic Garang, who is credited with presiding over major reforms to integrate the world's youngest country's financial system.
Alic, who is the current chairman of the East African Community
Monetary Affairs Committee (EAC) is set to speak on his experiences with the complex global set up as he navigates the task of integrating the country's financial system to the complex global order.
“Undoubtedly, several issues top our regional and global agenda today, including the realization that our planet faces unprecedented existential threats; that poverty is on the rise; and that geo-economic fragmentation is on the upswing.
The ‘Decade of Gas’ working group yesterday said it had identified 20 priority gas projects, with potential to supply 4.6 BCFD by 2030, as Nigeria continues to ramp up its efforts towards cheaper and cleaner fuels.
In an online interactive session with journalists, anchored by the Lead Economic Principle Workstream of the office, Ramatu Abdullahi and Lead Infrastructure Workstream, Taofeek Balogun, the office stated that there were clear directives from President Bola Tinubu to ensure that the aim of the programme is realised.
Essentially, Nigeria's 'Decade of Gas' is a government-led initiative aimed at harnessing the country's vast gas reserves to drive economic growth and development. Abdullahi told journalists that some of the projects that will lead to the realisation of the Decade of Gas by 2030 were being handled by the Nigerian National Petroleum
Company Limited (NNPC), SPDC, Seplat, Total Energies, Chevron, Sunlink, Amni and ExxonMobil.
“We have approvals from the president for some directives. We will be looking to implement those directives. We've started with a focus on supply because of the nature of the gas industry.
“If we want to get there within the decade, we have to be very proactive to make sure the projects come on line quickly because some of these projects in the oil and gas industry take can take up to one year or two years. So we've started with supply.
“We're going to give that sort of focus also to the other side of the equation and start looking at the demand sides,” she stated.
To push towards the 2030 goal, she stated that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had recently announced successful bidders for the Nigerian Gas Flare Commercialisation Programme (NGFCP) to process flare gas for domestic utilisation.
Sunday Aborisade and Adedayo Akinwale in Abuja
The National Assembly, yesterday, passed an amendment to the Central Bank of Nigeria (CBN) Act, which increased the apex bank’s threshold of Ways and Means Advances to the federal government from five per cent to a maximum of 10 per cent.
However, in the House of Representatives, opposition lawmakers, yesterday, staged a walkout following the decision of the House to approve the amendment to the CBN Act to increase the Ways and Means advances.
Similarly, yesterday, the senate rescinded its decision on the amendments it made to the 2024 Appropriation Act by repealing and re-enacting the law.
Senate Leader, Opeyemi Bamidele, led the debate on the amendment
to the CBN Act in the red chamber.
CBN governor, Olayemi Cardoso, had said the apex bank would no longer give Ways and Means to the president until the previous loans were repaid.
But speaking on the bill, Bamidele said, “Permit me to lead the debate on this bill, which seeks to amend the CBN Act to increase the total CBN advances to federal government.
“The bill was read for the first time in this chamber on Wednesday, 31st July, 2024.
“The very essence of this bill is to enable the federal government meet its immediate and future obligation due to the government increasing needs for funds to finance the budget deficits and other expenses.
"The Central Bank of Nigeria's advances to the federal government are essentially loans that the Central Bank of Nigeria provides to
the government to help it meet its financial obligations.
“These advances are typically shortterm and are expected to be repaid by the government. The passage and enactment of this amendment into law will provide immediate funds to address budget shortfalls and finance essential government expenditure.
"It will also help to maintain financial market stability by preventing government default on its obligation.
“Government would be able to inject money into the economy, stimulating economic activity and potentially creating jobs.”
The senator added, “It will enable the government to support critical sectors like agriculture, health care and infrastructural development
"It will lower the government borrowing cost by providing cheaper funds than the traditional borrowing method.
“This amendment is very consequential and it needs the support of us all. This is to enable the federal government to embark on very important projects that will inflate and rejig the economy, especially the Renewed Hope Infrastructural Development across the country.”
Senators Adetokunbo Abiru, Babangida Hussaini, Aliyu Wadada, Adams Oshiomhole, Ibrahim Dankwambo, and Solomon Adeola supported the proposed legislation.
After the debate, the senate approved that the bill be read for the third time and passed when its clauses were put to voice vote by Senate President Godswill Akpabio.
The House of Representatives also followed a similar process and passed it for first, second and third reading during the emergency plenary.
The House increased the limit to 10 per cent at an emergency plenary
presided by the Speaker, Abbas Tajudeen, during the consideration of a bill titled, “A Bill for an Act to Amend the Central Bank of Nigeria Act, to increase the Central Bank of Nigeria’s total advances to the federal government from five per cent to a maximum of 15 per cent and far related matters."
As is the tradition, the House had dissolved into Committee of the Whole to consider the report on the bill, with Deputy Speaker, Benjamin Kalu, as the chairman.
During the debate, Minority Leader of the House, Kingsley Chinda, was of the opinion that the loan limit be reduced to two per cent to ensure accountability and transparency.
However, Chairman of the House Committee on Finance, James Faleke, quickly interjected, insisting that the present five per cent was not enough for the government to rely on.
According to Faleke, “What we are doing is for the survival of the economy. We need to move away from what we are now to 15 per cent. Bringing down the rate to two per cent isn’t what will bring transparency.” In his submission, Hon. Isiaka Ayokunle said the limit should be increased to 10 per cent, saying it would ensure the managers of the economy serve with caution.
Chiemelie Ezeobi and Sunday Ehigiator
In what could be termed a botched armed robbery operation turned homicide, Dr. Aribemchukwu Ajumogobia, the only daughter of Sonoma and Justice Rita OfiliAjumogobia, has been murdered in
Various reports showed that lingering petrol scarcity in the country compounded the problem, with many Nigerians resorting to black market to get petrol.
Ms. Funmilayo Ogbe, an administrative staff at the Lagos State University Teaching Hospital, who spoke to THISDAY at the Abibat Mogaji Retail Market, Ogba, Lagos, complained about the price increase and urged market men and women not to take advantage of the current situation to rip-off consumers.
She said, "Before now, we were all aware that prices of food items had gone up, unexpectedly, after subsidy removal. But in the last 24 hours, the situation has taken a new twist because of the massive demand in the market.
“I came in today and discovered that the prices of what I bought a few days ago have gone up by at least between five and 10 per cent. To me, this is not driven by any government policy but by market men and women who see the current influx of consumers in the market as an opportunity to make extra money.
“While I'm appealing to government to find lasting solution to the current situation, I want to also appeal to our market men and women to be considerate and consider the challenges facing consumers,"
The petrol shortage forced many Nigerians to resort to panic buying, leading to long queues in many parts of Lagos, Enugu, Kano, and Kaduna states, as well as Abuja. Touts made brisk business from selling petrol in kegs above the official prices to desperate buyers.
The scarcity, which worsened in the last five days, saw petrol prices skyrocket, with harder pressure on finances and consumption.
Many vehicles spent hours in fuel queues, while public transportation services became increasingly unreliable due to fuel shortage.
In Kano, barely 24 hours ahead of the hunger protest, residents
cold blood in her Parkview, Ikoyi residence.
The deceased, an employee of the Nigerian Maritime Administration and Safety Agency (NIMASA), was stabbed to death and her body found outside her residence yesterday morning.
The suspects who have since been
trooped to commodity markets to stock up food items, following the resolution by the market leaders to lock their shops on August 1. The resolution prompted the rush to stock up on essential items, despite financial challenges.
There were mixed reactions among residents of Enugu State, as prices of staple food items continued to increase in the state. A paint bucket of rice sold for between N7,000 and N7,500, while garri sold for between N3,200 and N3,500.
A sizable tuber of yam went for as much as N4,500. As of today, the price of a litre of fuel stood at N850 while that of cooking gas was N1,250 per kilogramme.
Some residents who spoke to THISDAY said the planned protest remained the best way to express disaffection and press home the demands for improved standard of living. Others believed that while protest was within the rights of the citizens, it might snowball into violence that could claim lives and lead to the destruction of public and private property.
Those interviewed agreed that the government must urgently look into the reasons the protest was planned, including high cost of living, widespread unemployment and worsening insecurity.
Groups, like the Enugu State Chapter of the National Association of Nigerian Students (NANS), National Youth Council of Nigeria (NYCN), and Youth Wing of Ohanaeze Ndigbo, the apex Igbo socio-cultural organisation, had cautioned residents in Enugu and the South-east against taking part in the protest. Meanwhile, there was a heavy presence of Nigerian Army soldiers across the Enugu metropolis yesterday.
Public affairs analyst, Ambrose Igboke, said that it was wrong to use the military for civilian engagement, adding that the role of handling protests is that of the Nigeria Police.
transferred to the State Criminal Investigation and Intelligence Department (SCIID), Panti, Yaba, were said to have planned to rob the residence right after they were employed.
The trio, who are already singing like canaries during interrogation, were said to have been walked in
In Kaduna, there was also mixed feelings because while many residents described the impending protest as a welcome development, some expressed fear that some criminal elements might hijack it and loot shops.
Proponents of the protest said it was long overdue considering the harsh economic situation and insecurity occasioned by killings, kidnappings and the inability of the government to tackle the problems.
However, those opposed to the protest maintained that it might plunge the state into crisis and further worsen the situation.
They expressed concern that
He particularly accused four banks for spending over $500 million on the purchase of private jets, warning that their extravagant lifestyle could erode public confidence in the industry among other far-reaching implications.
Otedola, also hailed the ongoing banking industry consolidation, adding that it would further strengthen the industry.
He, however, explained that windfall taxes are often levies on companies or individuals who receive substantial, unexpected profits due to circumstances beyond their usual control or investment.
Otedola maintained that taxing such extraordinary gains ensures a fairer distribution of wealth, allowing those who benefit disproportionately to contribute more significantly to the broader societal good.
He said his endorsement of the initiative was in line with ongoing efforts to reform the Nigerian banking sector to enhance economic stability and integrity within the nation's financial institutions.
According to the billionaire businessman, the revenues generated from windfall taxes could be channeled into essential public services such as healthcare, education, and infrastructure, benefiting all citizens and helping to reduce social inequalities.
on by the deceased as they were robbing the house and they killed her.
THISDAY gathered that right after the act, they proceeded to take her outside the house and dropped her to cover their tracks.
Immediately they were done cleaning up the scene of the incident and wiping off the blood tracks, they
some criminal elements might hide under the protest to break in and loot shops.
Some traders at the Railway Station Market, Kaduna, said they might have no option than to take their goods home for fear of miscreants.
At a town hall meeting on Monday, the Kaduna State governor, Senator Uba Sani, appealed to residents to shun the protest.
However, organisers of the protest have yet to give any information about where and when the protest would commence.
Continues online
He said, "The recent announcement of a windfall tax on the extraordinary profits earned by Nigerian banks is a significant first step towards achieving these goals.
"The consolidation of various foreign exchange rate systems into a single investors and exporters (I&E) window led to the depreciation of the Naira and substantial increases in the value of bank assets denominated in United States Dollars.
"This extraordinary gain should be redistributed to fund critical infrastructure development, education, healthcare access, and public welfare initiatives, addressing the intense pressure on public finances and alleviating the cost-of-living crisis many Nigerians face."
Otedola, further pointed out that the financial statements of manufacturing, telecoms, and SMEs indicate that many of these companies may not be able to pay corporate tax for the next two years, as they are currently showing negative equity.
He said, "It is essential for the government to step in and provide support to bridge these gaps, ensuring revenue generation and fostering economic development.
"The importance of aligning financial priorities with Nigeria's broader economic development goals cannot be overstated.
carried the loot from the house to their already mapped out hideout.
When the body was discovered in the morning, the estate security guard involved the Ikoyi Police Division before the case was taken over by the SCIID, Panti.
It was also gathered that as of press time, the trio had taken the investigators from Panti to the hideout and all the stolen items recovered.
When contacted, the Lagos State Police Spokesperson, Benjamin Hundeyin , he told THISDAY that they were optimistic about the intelligence they got from the suspects.
He said: “When our men were alerted, they went to the scene. At the moment, we have rounded off all three suspects and they provided credible intelligence that has paid off.
“They admitted to killing their boss and also took our detectives to the hideout where they had stashed the goods they stole from the residence of the deceased.”
THISDAY however gathered that the police are not ruling out outside
"The federal government's reforms are both timely and essential for the sustainable growth of our economy.
"By taking decisive action to implement these changes, the federal government is demonstrating a commitment to ethical leadership and accountability."
He added, "These reforms will empower our banking sector to play a pivotal role in driving Nigeria's economic development, ultimately securing a prosperous future for all Nigerians."
The FBN Holdings chairman, who spoke on recent developments in the banking industry, further hailed the recapitalisation initiative by the Central Bank of Nigeria (CBN) which sets new minimum capital thresholds of N500 billion for international banks and N200 billion for national banks as well as N50 billion and N20 for regional and non- interest banks, respectively.
He said the move was aimed at strengthening banks' capacity to support the country's broader economic development goals.
He insisted that it was crucial for banks to focus on "operational efficiency, technological innovation, and customer service, rather than executive extravagance."
Notwithstanding the progress so far achieved with the banking
collaboration.
Meanwhile, the Parkview Residents Association (PVRA) has urged residents to exercise caution and conduct thorough background checks on domestic staff before employing them.
A resident, who spoke to THISDAY under anonymity, said the call to exercise caution was not misplaced given that Parkview Estate has recorded three deaths orchestrated by domestic staff in recent time. In a message to residents, the PVRA management said: “Dear Residents, We regret to inform you of a distressing incident that occurred early this morning at Layi Ajayi Bembe. “A dead body was discovered, and it is suspected that the domestic staff may be involved in the matter.
“The police are currently investigating the case. We urge all residents to exercise caution and conduct thorough background checks on any domestic staff before employing them. We will provide further updates as soon as more by information becomes available. “
sector reforms, Otedola said there was urgent need to address entrenched issues within the banking sector.
He explained, "A concerning trend has emerged where some bank chief executives prioritise personal gain over their duty to shareholders and customers.
"The core values of banking—trust, integrity, and service—must be upheld. I am particularly critical of the culture of flamboyance, especially the ownership and operation of private jets."
Specifically, he said Nigerian banks are spending about $50 million annually, "just on maintaining private jets," adding that over $500 million went into purchase of nine private jets by four banks. According to Otedola, "This level of extravagance significantly erodes public trust in our financial institutions and diverts crucial resources away from vital areas such as operational efficiency, technological innovation, and customer service.
"To regain the trust of the Nigerian public and fulfill its pivotal role in the nation's economic development, the banking sector must realign its financial priorities. "Investments should be channeled into areas that directly improve customer services and enhance technological infrastructure."
chiemelie ezeobi
ARM Pension Managers yesterday said it has placed its Executive Director, Technical, Abisola Onigbogi, on administrative leave following the allegations of rape made by another employee of the firm, Ogochukwu Odogwu, a Human
Resource business partner.
Odogwu had accused Onigbogi of allegedly abducting her, driving her to a hotel and sexually assaulting her after an office party on July 18, 2024.
In a statement made available to THISDAY, the firm said they had initiated a thorough and independent
investigation into the allegation and are also fully cooperating with law enforcement agencies.
The statement read in part: “ARM Pension Managers (PFA) Ltd is aware of a serious allegation of assault involving our employees. We are deeply disturbed by this and are committed to addressing the situation
with the utmost seriousness and sensitivity.
“First and foremost, our thoughts are with our colleague who has come forward. We want to express our deepest concern and support for her during this tough time.
“Sexual assault is a grave matter that has no place in our organisa-
tion and society at large, and we stand firmly against all forms of harassment or violence. This incident reportedly took place outside the office premises on the night of July 18, 2024, after an office team bonding event and involved two of our colleagues.
“We have initiated a thorough
three months.
and independent investigation into the allegation, and we are fully cooperating with the law enforcement authorities to ensure that the investigation is comprehensive and impartial.
“The accused employee, an executive in the company, has been placed on administrative leave pending the investigation's outcome.”
Additionally, the company said it was offering support services to the complainant who had come forward, including counselling and any other resources she may need now.
The Chief of Air Staff (CAS), Air Marshal Hasan Abubakar, yesterday said the air component of Operation Delta Safe, discovered and dismantled no fewer than 150 illegal refining sites, and overhead tanks, as part of the contribution of the armed forces of Nigeria to the coordinated fight against oil theft, pipeline vandalism and economic sabotage.
A statement by NAF Spokesperson, AVM Edward Gabkwet, said over 70 illegal refining sites and about 80 overhead tanks have been destroyed by air strikes undertaken by Nigerian Air Force aircraft under Operation Delta Safe in the past
Rivers Communities Rejoice with NDDC over Impactful Projects, Declare Support for Tinubu
Blessing
Communities in Rivers State have appreciated the leadership of the Niger Delta Development Commission (NDDC) for the developmental projects ongoing in their areas carried out by the agency.
The people of the Rivers communities made the commendations when the state representative in the governing board of the NDDC, Tony Okocha, inspected ongoing projects of the commission in communities across five local government areas in the state, including Etche, Akuku-Toru, Emohua, Degema and Obio/Akpor.
At Etche, Okocha alongside his team inspected the construction of 2 numbers of two-bedroom semidetached principal and teachers’ quarters at Community Secondary School, Umuechem.
Umuechem Community, a host of 53 Oil Wells, which is contributing to the economy of the nation, had severally lamented exclusion from the benefit from the proceeds of the natural resources from it are. They claimed to have also built the secondary school in the area without government support, until NDDC
decided to upgrade the status of the school.
The agency also inspected an ongoing 10-bedroom Corpers' Lodge Project (all ensuite), sited at the Ignatius Ajuru University Campus in Ndele, in Emohua LGA of the State.
Okocha visited Soku Community in Akuku-Toru LGA, an island in the state, where he inspected the ongoing Emergency Construction of 10,000 Gallons Capacity Solar-Powered Water Project in the community.
The inspection continued at Degema LGA, where NDDC is undergoing construction of 1,300-Seater pavilion, sited at the premises of the Degema LGA Secretariat.
Also inspected yesterday was the Nkpolu Community Town Hall project, and the reconstruction of the NTA/Apara Link Road/Drainage Project, in Obio/Akpor LGA.
A stakeholder in Soku Community, Dr. Otiasah Christian, while emphasising the importance of the water project, said there have been several cases of cholera outbreak in the community that led to loss of lives as a result of lack of potable water.
Abubakar unveiled this quarterly achievement, while hosting the National Coordinator of Messrs New Guard Security and Consulting Limited, Maj. Gen. Jamil Sarham (rtd.) and his entourage at NAF Headquarters.
Speaking on the current state of oil production in Nigeria, Abubakar expressed discontent over the severe negative impact of oil theft and pipeline vandalism on Nigeria’s oil output, which have led to a significant decline in crude oil production and substantial revenue losses to the nation.
He also noted the environmental consequences of these illegal activities, which have led to air pollution and waterway contamination with attendant effect on aquatic life and agriculture.
According to him, it was in
response to these challenges, that the Armed Forces were mandated to eradicate the scourge of oil theft and pipeline vandalization in the Niger Delta Region, with the aim of boosting oil production output.
Abubakar also gave a summary of NAF’s robust involvement in combating illegal oil theft through Operation Delta Safe, particularly in the last 12 months.
He said: “Over the past year, the NAF has conducted 463 sorties in 560 flight hours and expended 175,000 litres of Jet A-1 fuel in air operations over the Niger Delta region.”
He also added that in bolstering these efforts, some newly inducted platforms have recently been deployed to the region and beyond so as to enable the NAF to cover more grounds as it liaises with other security agencies in degrading the activities of these criminals in the
region.
While congratulating retired Gen. Sarham and his team, on their appointment as the new Project Management Office Contractor, the CAS lauded the team's exceptional military background, expressing optimism that their collaboration with security agencies in addressing the challenges of crude oil theft would add bite to the ongoing efforts.
He noted that the visit lays a solid foundation for greater cooperation and synergy between the NAF and New Guard Security with potential positive impacts on Nigeria’s national defense and security.
"In all, the visit marked a pivotal step towards enhancing the security of Nigeria’s oil infrastructure and addressing the economic and environmental challenges posed by oil theft," he concluded.
“We are committed to fostering a safe and respectful workplace for all employees with zero tolerance for sexual harassment or assault and will continuously strive to maintain a culture of integrity and respect.
“We understand the gravity of this situation and the impact it has on all involved. Hence, we will handle this situation with the highest level of integrity and transparency,” the firm said.
Meanwhile, the Lagos State Police Command has said it would have to investigate the role the Limeridge Hotel played in the saga in a bid to fully unravel all the intricacies of the case.
Although no other arrest had been made, the command said the Gender Unit has prioritised the case and would investigate all angles, including why the said hotel allowed the suspect to lodge with a seemingly inebriated woman and was allowed to leave without questioning.
The Ogun State Government yesterday, launched its e-bikes and tricycles under the Ogun State E-Mobility Programme.
The programme which aims to reduce the cost of transportation in the state would also ensure a cleaner environment by reducing carbon emissions.
Speaking at the launch of the first phase of 2,000 electric motorcycles held at the Arcade Ground, Governor's Office, Oke-Mosan, Abeokuta, the state governor, Prince Dapo Abiodun, said the E-Mobility initiative marks another milestone toward a sustainable and green future for the state.
He stated: "Our administration is committed to mitigating the impact of the subsidy removal and the high cost of diesel fuel while reducing transportation costs for our citizens.
"We will be realising about 2,000 e-bikes in the first phase. These commercial motorbikes can ride up to 75-80 kilometres on a full charge, and the vehicles can travel up to 200 kilometres, thus reducing transportation costs by 40 per cent.
"We aim to reduce our carbon footprint and bring about a significant change in how we think about transportation in our daily lives. This aligns with our energy transformation program for a cleaner and healthier environment for future generations."
The Ogun State Government, the governor noted, has led the country in energy transition, being the first state to launch and deploy Condensed Natural Gas (CNG) buses about a year ago.
Abiodun stated that the buses are currently deployed on the ItaOshin-Adatan route in Abeokuta, as well as the Mowe-Ibafo to Lagos routes, serving residents in that corridor and drastically reducing transportation fares.
"Through the launching of electric bikes, tricycles, vehicles, and battery swap stations at specific points, we are not just introducing a new mode of transportation; we are pioneering a movement towards a cleaner, more efficient, and technologically
advanced way of life," he added.
The governor also announced the groundbreaking of a new facility, named Giga Facility, at the Special Agro Processing Zone located in Iperu-Remo, noting that the facility, with a total investment of $40 million, would serve as an assembly plant for electric bikes, two-wheelers, tricycles, commercial buses, electric cars, and swap stations.
"This investment will be implemented in three phases, beginning with phase one, focusing on our e-Okada bike assembly, and of course, phase two with our tricycles, and phase three with our e-vehicles. It will create over 10,000 direct jobs and 50,000 indirect jobs for assembly line operators," he said.
President Bola Ahmed Tinubu, Governor Hope Uzodimma of Imo State and Governor Dapo Abiodun of Ogun State have called on the traditional rulers from the Southern part of Nigeria to unite in the interest of their area in particular and the country in general.
The trio spoke, Tuesday, at the Rockview Hotel in Owerri during the formal inauguration of the Southern Nigeria Traditional Rulers Council where President Tinubu was the Special Guest of Honour. Represented by the Secretary to the Government of the Federation, Sen. George Akume, President Tinubu noted that," Nigeria will never go down with the support of traditional rulers."
President Tinubu asserted: "With the collective support of Southern and Northern traditional rulers, Nigeria will never go down because Nigeria is a great Nation, a rich country that is naturally gifted and endowed."
The president who sent his best wishes to the leadership and members of the Southern Nigeria Traditional Rulers Council expressed government's willingness to support the inauguration and its expected gains.
He expressed profound respect for the monarchs as custodians of culture and tradition in the country and an unavoidable force that can be relied upon for the pursuit of peace and unity of the Nation, noting that "no Nation can do without your advice and guidance."
President Tinubu commended the efforts of Governor Uzodimma in coordinating the traditional rulers and said, “with unity there is nothing
Nigeria cannot achieve because Nigeria is a rich country."
While pledging the support of government to the council, the president informed the monarchs that government will not succumb to blackmail and urged them to appeal to the parents in their domain to restrain their children from the planned nationwide protest which he described as "senseless."
In his remarks, Governor Uzodimma as the host, said that the constitution of the council is a journey that started in 2013 aimed at forming synergy that will foster common ideas like their counterparts from the North.
He said the synergy was most needed now that the country is in search of peace, unity and inclusiveness.
Explaining that Southern Nigeria Traditional Rulers Council will be used to "rally support and promote our culture and traditional heritage," Governor Uzodimma expressed a sense of fulfillment that the inauguration will close the deep difference in the Niger or better still, help in the much talked about exchange of hands across the Niger.
While congratulating all those who were involved in the initiative, the governor emphasised that it will be for the peace of the country. "It will enhance the unity of the Southern and Northern traditional rulers, to speak with one voice and close the gap always noticed in culture, tradition and ethnic suspicion."
Governor Uzodimma reminded the monarchs that as the fathers of the nation they must “preach peace, work peace and practice peace’’ in their areas as well as "maintain
harmonious relationship between the South and the North."
He reminded them that they already have a constitutional role assigned to them by God to play in Nigeria, and that as the first point of call in the adjudication of matters in their domain, it makes them powerful, hence they should also play their role with the fear of God.
Governor Uzodimma urged them to speak with one voice on issues of nation building, shun partisan politics as doing so will erode their credibility.
He regretted that the involvement of traditional rulers in partisan politics often leads to government taking drastic measures against the traditional institutions.
Continuing, he enjoined them to team up with the Government of the day to bring peace, unity, growth and development to their
communities, states and nation at large.
Governor Uzodimma went further to advice the traditional rulers to take their succession plan seriously as doing so will make succession in their community crisis free.
Also, he advised those of them who have refused to leave in their domain to have a change of heart as their actions and inactions are capable of exacerbating crime and criminality in the communities.
He said: "When you live in your community your presence will stem off banditry, kidnapping, and other vices."
On the efforts by the President to cushion the effects of hardship through the return of financial autonomy in the local government areas, the governor said the effort will bring governance to the grassroot and insisted that "the reforms by Mr.
President are for economic recovery."
He pleaded with the monarchs and their subjects to be a little more patient as the pains they are going through would be overcome. “Tinubu will take us to the destination.”
In his address, the Chairman, Southern Governors' Forum and Governor of Ogun State, Prince Dapo Abiodun, appreciated the Governor of Imo State for successfully coordinating and hosting the event aimed at the unification of the Southern traditional rulers as well as the unification of the culture and traditional heritage of the South.
"It is going to strengthen the bond between traditional rulers and the government," Abiodun said and commended the initiative and its thoughtfulness.
He described it is a viable platform through which the traditional rulers can perform their advisory role
to government, enhance Community engagement and pave the way for a peaceful Nigeria.
His words: "They can help prevent commotion by enhancing harmony as they will close the gap between the governments and governed."
He promised, on behalf of the Southern governors, to support the traditional rulers to mobilise their community towards growth and development and reminded them to stay away from politics.
On the planned protest, Governor Abiodun said: “Protest is right but dialogue is better.”
He advised every citizen to avoid violence because of its negative consequence, reiterating that "Tinubu has remained committed to the welfare and betterment of Nigerians and requires only the support of Nigerians to achieve his planned goals."
The South East Governors' Forum has expressed deep pain over the unfortunate demise, Thursday, July 25, 2024, of their illustrious son, father, and President General of Ohanaeze Ndigbo Worldwide, Chief Engr. Dr. Emmanuel Chukwuemeka Iwuanyanwu, Ahaejiagamba Ndigbo.
A statement signed by the governor of Imo State who is the Chairman, South East Governors' Forum, Sen. Hope Uzodimma, CON, said the entire region had been thrown into deep mourning by the sudden passing of Chief Iwuanyanwu.
Governor Uzodimma's statement read in full: "Chief Iwuanyanwu was an outstanding national leader who served Nigeria meritoriously in various capabilities over the years.
"He was a bold, fearless and courageous defender of the truth; an unapologetic protector of the unity,
peace and indivisibility of Nigeria.
"The South East, Ndigbo, and indeed Nigeria at large, have lost a rare statesman, a dependable patriot, a philanthropist, an astute manager of human and material resources, a champion of justice, equity, fairness and inclusiveness, a resourceful
business leader and entrepreneur who created jobs and employment for thousands of Nigerians.
"We commiserate with the family of the deceased on this monumental loss, and pray God Almighty to grant Chief Iwuanyanwu's gentle soul a peaceful repose."
Onyebuchi Ezigbo in Abuja
rians are currently going through.
Michael Olugbode in
The United Kingdom Government, through its Home Office International Operations (HOIO), has donated information technology (IT) equipment to enable the National Population Commission (NPC) digitise its birth registry and move its existing analogue records estimated at 40 million certificates onto the commission’s digital platform. According to a statement, Wednesday, from the British High Commission in Nigeria, the UK support will also enable NPC to conduct a higher number of
verification checks for UK Visas and Immigration which will assist in combatting the trafficking of children and visa abuse.
The donation which includes high-quality laptops, scanners, and internet connectivity devices, is to be distributed across 17 NPC state offices that conduct the highest number of checks for the British High Commission and is part of a broader commitment by the UK Government to support Nigeria's efforts in improving civil registration and vital statistics systems, the statement read.
Speaking at the handover ceremony in Abuja, the Acting
British High Commissioner, Mrs. Gill Lever, said: “This is the second donation of equipment, and we are grateful for the successful trial period where since October 2023, NPC has conducted over 130 verification checks of birth and death certificate checks in collaboration with the UK Visas and Immigration Verification officers based here at the British High Commission, Abuja.
“Of these checks, one in three cases were identified as counterfeit which helped support UK Visa decision making and allowed the remaining genuine cases to be processed in a timely manner for the Nigerian visa applicants.”
The Federal Capital Territory Administration (FCTA) has commenced implementation of an initiative aimed at lifting the financial burden borne by patients receiving treatment at hospitals in the nation's capital, Abuja.
The initiative known as Medical Palliatives to Hospitals, ensures that patients receive medical treatment and medicines free in any of the General Hospitals visited by the FCTA Health team.
Speaking during commencement of the exercise at the Gwarinpa General Hospital in Abuja, Wednesday, the Mandate Secretary for Health Services, Dr. Adedolapo Fasawe, who represented the Minister of the FCT, Nyesom Wike, said the initiative was being rolled out to further reduce the economic burden on the residents.
Fasawe said that government is not ignorant of the challenges Nige-
Her words: "We have provided food palliative meant to reduce the burden and serve as a quick solution while the problem is finally addressed. The reason behind medical palliative is very simple.
"We are beginning to realize that a lot of our patients are coming in sick because the money they will use buy their medicine, they are using to buy food. There are limited resources to take care of competing demands.
"So, we wrote a memorandum to the Minister of FCT to approve the concept of provision of medical palliative which he graciously approved after being assured of a sustainability plan."
The mandate secretary said that part of the plan is to deploy the health insurance scheme for the vulnerable which is funded with a percent of the country's national budget to support the provision of
the medical palliative. "What we have done here today is a proof that this can work. It is sustainable and it is something that have come to stay.
The mandate secretary said that the medical palliative package included free medical treatment for patients who came to the Gwarinpa General Hospital in Abuja yesterday. She also said that all the aspects of medical treatment including tests, prescribed medicines and even patients requiring surgery were to be paid for by the FCT administration.
Speaking shortly after a brief tour of various sections of the hospital where patients were receiving treatment, the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, said that as part of efforts to reinvigorate the health sector, the federal government has trained over 10,000 health workers across the states.
UZOR MAXIM UZOATU pays tribute to the songstress, actress and activist, Onyeka Onwenu
The sonorous songstress Onyeka Onwenu has just pased, but my duty here is to add the human angle to the legend of the goddess.
Onyeka Onwenu, inimitable singer, ace broadcaster and classy actress took no prisoners in all her undertakings.
Back in 1986, in the early days of the defunct THISWEEK magazine, Onyeka was billed to feature in the colourful “People” page of the trailblazing weekly that was then printed in London on Sunday and sold on the Lagos newsstands every Monday.
The young lady journalist chosen to interview Onyeka was educated in the United States just like the celebrated musician. It was a case of things flowing smoothly in all dimensions as the camera-ready magazine was sent to London and landed in Lagos in arresting resplendence.
Onyeka was indeed a beauty to behold once the magazine hit the newsstands because her bold smile was like a charge of electricity on the page.
Now this: Onyeka Onwenu stormed the 113 Ogunlana Drive, Surulere office of the magazine in shorts, and the anger on her face could have been visible to even Stevie Wonder!
The question that shot out of Onyeka’s mouth was straight to the point: “Where is that young lady who interviewed me?”
As the street homeys would say: “Alarm don blow!” There was panic in the air, and there was no escaping the clear and present need to put the young interviewer out of harm’s way before undertaking the task of pacifying Onyeka.
What could have gotten Onyeka so angry?
Let’s get to grips with the background of the matter so that there would be “one love” at the end of the story.
The lady who interviewed Onyeka was a class act, and not your run-of-the-mill junk journalist. She was the well-schooled daughter of the best friend and classmate of Chinua Achebe in Government College, Umuahia, and University College, Ibadan.
To give the journalist her due, she faithfully reported all that Onyeka had told her without adding any ingredients whatsoever.
I need to report here that there were too many “mad” characters in the THISWEEK newsroom who refused to be gentlemanly like me.
One of these characters of the newsroom was a guy who attended the elitist Kings College, Lagos only to end up living with Fela Anikulapo-Kuti in Kalakuta Republic!
This Kings College alumnus who doubled as Fela’s buddy knew everything in Lagos because he was like James Hadley Chase’s Al Barney who had “An Ear to the Ground”.
It was the guy who revealed to us that Onyeka Onwenu was married and had a husband whom she did not want to reveal to the public.
The story got even sweeter with the information that the sweet Igbo Christian lady Onyeka Onwenu was married to a
Yoruba man and a Muslim to boot!
Call it the mother of all scoops, there was a compelling urge to add the hidden Onyeka husband matter to the story.
It had to be eventually decided to put in just the name of Onyeka Onwenu’s husband without adding the ethnic politics in Nigeria issue since we were not Professor Okwudiba Nnoli.
Onyeka Onwenu ranked quite high as a leading liberated Nigerian woman who would not be bordered with parading as a Mrs. Somebody.
In the manner of committed feminists she dared to carry on and win laurels based on her capabilities without advertising the appendage of a man.
The fact that THISWEEK magazine ventured into terrains where angels feared to tread by revealing not just Onyeka’s status but the name of her husband was akin to touching the tiger by the tail.
The songstress who another reporter in the magazine had nicknamed “The Elegant Stallion” was geared up for an epic battle.
The arrival of Onyeka Onwenu in he magazine premises had to be tackled with immediate strategic actions such as hiding the supposedly offending young journalist and getting the singer to cool her temper somewhat.
The best plan of action that manifested was to lead Onyeka Onwenu into the office of the editor of the magazine, the ever charismatic Sonala Olumhense.
Trust Sonala to work magic in short seconds because when one re-entered the editor’s office after a while it was a smiling Onyeka Onwenu that was on parade.
The photo-journalists had to be summoned to take promotional pictures of Onyeka Onwenu posing with copies of the magazine, stickers and sundry mementoes.
She sashayed as only she could and the entire staff of the magazine got carried away with the sensational ways of the personable superstar.
No mention was ever made again of the hurt that was inflicted on her through the reportage of the magazine.
This recall here is my little way of celebrating my big sister Onyeka Onwenu, the lionized daughter of “Ochie Dike Nnem” who has just crossed over, singing into the night.
Uzoatu is a Journalist and Poet
Drones and AI machines should be deployed to curb oil theft, argues JOHN AONDOASEER JIA
Oil theft has continued unabated in the Niger Delta over the years. Records abound in research publications and in diverse local and international media. The impacts are huge - from economic losses to environmental and physical harm due to insecurity. In the area of security, oil theft operations can involve armed criminals. Reports are in the public domain to show armed confrontation with government security agencies. Every oil theft location or illegal refining location has potential to becoming volatile and dangerous at any moment and should therefore, be considered a hostile environment security wise. Also oil theft locations or artisanal refining locations are usually riddled with health, safety and environment risks which include exposure to toxic substances like gases, active hydrocarbon spills, charged atmospheres, crude oil, chemicals. Others may be physical hazards like sharp objects, slippery surfaces, and unstable structures. Dangerous environmental hazards like hazardous materials, contaminated water sources and unstable ground conditions make access difficult.
The current practice where companies and government put people in harm’s way as responders once reports are made has been shown to be taking a toll on responders psychologically and otherwise. So, how can the integration of drones and AI achieve tremendous benefits in ways that achieve better results than current response methods of putting people first as responders – civilian or military?
Surveillance, monitoring and rapid response. The deployment can help to achieve real-time aerial surveillance. Drones equipped with high-resolution cameras and sensors can provide continuous aerial surveillance of pipelines, oil facilities, and surrounding areas, capturing real-time data and visual feeds. Drones can capture detailed images and videos, allowing for the identification of unauthorized activities, potential threats, and illegal taps on pipelines. In addition to this, a rapid response can be achieved. Drones can be swiftly deployed to areas of interest, significantly reducing response times and allowing for immediate assessment of potential theft activities. In remote areas in particular, drones can access hard-to-reach or dangerous areas, providing critical information without exposing responders to potential risks.
Detection, prevention and deterrence: Detection and prevention are the key reasons for the deployment of the technology which can achieve early detection and deterrence. In the area of early detection, advanced sensors and AI algorithms can be used to detect anomalies such as leaks, illegal taps, and unauthorized movements along pipelines. Thermal imaging by drones equipped with thermal cameras can identify heat signatures from illegal activities or equipment tampering, even in low visibility conditions such as nighttime or dense vegetation. It is a potent tool for deterrence. The visible presence of drones can act as a deterrent to potential thieves, reducing the likelihood of thefts. While in flight, drones programmed to send automated alerts can automatically alert security personnel and local authorities upon detecting suspicious activities, enabling rapid intervention.
Data Collection and Analysis. Drones can be used for comprehensive data gathering exercise. Considering data collection, drones can collect a wide range of data, including visual, thermal, and environmental information, which can be analyzed to identify patterns and trends in oil theft. Not only will it provide high quality data, it can be used for geospatial mapping. This means that drones can create detailed geospatial maps of pipeline networks, Wellheads, manifolds and surrounding areas, assisting in planning, risk assessment, and targeted monitoring.
AI Integration. So why is AI integration important in this? By integrating AI and machine learning, drones can analyze historical data and current
surveillance feeds to predict potential theft hotspots and optimize patrol routes. Predictive analytics can also provide real-time data thus enhancing decision-making processes, enabling more effective allocation of resources and targeted interventions. Drones will help to enhanced decision-making.
Safety and Cost Efficiency - There is no gainsaying that a mandatory deployment of the technology under discussion can help to achieve a high level of safety for all. A mandatory utilization of drones will ensure personnel safety. High on this is reduced risk. Using drones minimizes the need for personnel to enter hazardous areas, significantly reducing the risk of injury or exposure to toxic substances and dangerous situations including armed attacks by oil thieves. In addition, there is opportunity for remote monitoring where security teams can monitor and respond to incidents from a safe distance, enhancing overall safety and minimizing direct human involvement. Experience has shown that where ever oil and gas facilities are tampered with leading to damage,
there must be a physical response to stop the oil or gas leaks and carry out repairs to restore production as soon as possible. Therefore, Data collected using drones can provide valuable information for risk management planning, nature of repair and preparation on all the resources that are required for repair including vehicles, vacuum trucks, among others. Research has shown that responders are increasingly going through stress, not knowing what to meet at an illegal bunkering site.
On cost efficiency, it is correct to assume that operators may not support a mandatory use of drones as a first response to oil theft activities. One of the reasons may be cost implications. A critical analysis will show an actual lower operational costs. Drones are relatively inexpensive to operate compared to traditional patrol methods thus reducing overall security costs. Companies are aware of how much is spent in deploying security, operational support that sometimes is not fit for purpose leading to making additional deployments in the case of repairs and evacuation of either spilled inventories or those in tanks. Also, there is no cost compared to preventing fatalities and injuries for responders. In addition, early detection and rapid response as the case may be due to deployment of drones can prevent extensive damage to infrastructure, reducing repair and maintenance costs.
Implementation Strategy and Training. In order to implement the proposed mandatory drones utilization strategy for preventing, detection and providing data required for response, organizations need to build and deploy drone Infrastructure.
Jia, PhD, is a Health, Safety and Environment, Risk Management expert with wealth of experience in the oil and gas industry
Editor, Editorial Page PETER
ISHAKA
Email peter.ishaka@thisdaylive.com
Deaths from generator fumes should be checked
The recent death of seven undergraduates of Niger Delta University (NDU), Amassoma, Bayelsa State, after apparently inhaling fumes from a generator in a music studio has once again brought to fore this tragic recurrence. The young men reportedly worked late into the night before falling asleep in the locked studio with the generator still running. “Investigations are being carried out but based on what we have seen, carbon monoxide poisoning due to generator fumes is a possible cause,” police spokesperson Musa Mohammed told the media. These deceased young men have joined the long list of hundreds of Nigerians who have in recent years lost their lives to fumes from generator. In some instances, entire families have been wiped out by these silent killer in several homes, largely due to the mismanagement of the power sector.
Awareness must be created that it is always safer to put the generator outside, and away from a window, and never in an enclosed situation
Due to the poor electricity supply in Nigeria, most offices, shops and homes are powered by generators. There is hardly any family, particularly in the urban areas, who does not depend on power generators. So bad is the situation that in some areas as many as 10 generating sets could be found within a radius of five metres. As we have highlighted on this page on several occasions in the past, the fumes emitted by generators are fatal, often without the victims, who are mostly asleep, knowing or realising the danger. They also have long-term hazards as a possible cause of lung cancer. Experts therefore advise people using the device to never run a generator indoors or in any area where ventilation is limited and people or animals are present.
To be sure, generators provide power for light, fans, fridges, television to video games and such like. But aside from the noise and pollution they emit, there are also health costs. As most health
T H I S D AY
EDITOR SHAKA MOMODU
DEPUTY EDITOR WALE OLALEYE
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GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI
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experts have warned, fumes from these generators could be deadly. The fumes contain carbon monoxide, a dangerous invisible and colourless gas. When inhaled, carbon monoxide replaces oxygen in the tissues and can easily lead to death. The signs on the victims are dizziness, nausea, headache, even confusion, symptoms mistakenly attributed to too much alcohol or sun; or something else. That explains why the story of people who sleep at night with their generators on without waking up the next morning has now become rampant. Besides, exposure to moderate and high levels of carbon monoxide over a long period of time has been linked to an increased risk of heart disease. This could lead to a shorter life span. What is particularly worrisome about this development is that as pervasive as it is, there is still no public awareness campaign by the relevant authorities on the dangers posed by generators. Therefore, against the background that hardly a week passes without reports of fatalities resulting from generator fumes, users must be made aware of the necessary precautions to take. The National Orientation Agency (NOA) that is becoming increasingly vibrant under the leadership of Lanre Issa-Onilu should take it as part of its agenda. Awareness must be created that it is always safer to put the generator outside, and away from a window, and never in an enclosed situation. Indeed, most of the deaths recorded were as a result of unsafe generator use in badly ventilated environment. We feel the general public should be adequately enlightened on the danger posed by generators, and how they can be safely used, mostly at homes. This should be the responsibility of the health and environment authorities at both the federal and state levels. By so doing, we will be able to save our people from painful but cheap deaths.
They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.
Rather than doing all it can to protect children, Nigeria remains content to line up excuses while children remain inexcusably vulnerable and child protection virtually non-existent.
A society where children are prone to abuse would always condone excuses for exposing children to horrific abuse. Such a society often shields the worst offenders or punishes them minimally before cutting them loose to continue their sadistic abuse of children. The case of 13-year-old Bridget Samuel in Taraba State is particularly pathetic.
Falsely accused of stealing N5000, her hands were tied by two of her uncles and dipped in hot water mixed with pepper and sand. The horrific cruelty coupled with the fact that she was not immediately given medical attention may end up causing the permanent loss of her hands.
The punishment meted out to Bridget which was for an unconfirmed act of theft highlights the dangers children face at the hands of adults who are supposed to protect them. No matter the crime the child committed there could have been no justification for the cruelty.
Children remain tragically exposed to abuse in Nigeria where constant referrals as leaders of tomorrow is fast receding behind a cloud of complacency. It has been more than two decades since
Nigeria passed the Child Rights Act, yet, safety has only marginally improved for Nigerian children. As with the myriad of laws passed in Nigeria, the law has been bogged down by the bogeyman of implementation.
Grinding poverty still forces families to send their children to live with psychopaths and pedophiles masquerading as relatives, who end up ruining their young lives. Most times, when these unspeakable abuses come to the fore, the authorities are usually too weak to act. The way insecurity has disrupted the lives of children in Nigeria is well documented. Children have suffered incalculably as terrorism has convulsed many parts of the country. Bandits attack schools at will, abduct as many children as they wish and keep them for as long as they want. The recurrence of this crime despite its severity is a sign that the government is out of its depth in how to tackle it.
Many children suffer in silence at the hands of those entrusted with their care. Their stories remain buried, their scars hidden, their sadistic abusers shadowy. The law which should have a heightened sense of responsibility towards this particularly vulnerable group is failing to uncover their stories, bring them justice or punish their abusers. Nigeria will continue to have children who are destroyed before they are formed unless the law can live
up to the expectations of children.
Nigeria’s descent into lawlessness leaves the country exposed on many flanks. Vicious vulnerability has only increased for endangered groups like women and children who are increasingly imperiled their unraveling circumstances. In failing to adequately protect them, the law and those who enforce it are confirming suspicion that they are all bark and no bite.
Nigeria owes every Nigerian child a debt that can only be repaid by lifelong security, quality education, healthcare, social security and other variables that firm up a quality life. Generations have gone with this debt remaining unpaid. This sequence must be snapped if the country’s future is to beat its past.
Nigeria will remain without justice until every child that has suffered any form of abuse get justice. There should be no hiding place anywhere for those who abuse children.
Time has also run out for religious and traditional practices which steal the childhood of many children through child marriage, female genital mutilation and child labour. These practices must now be consigned to the past if children are to lead easier and happier lives.
Ike Willie-Nwobu, Ikewilly9@gmail.com
Email: deji.elumoye@thisdaylive.com
Mon-Charles Egbo in this piece examines how the Red Chamber fared during the Fourth
10th National a ssembly chaired by s enator Godswill a kpabio.
Nigeria’s challenges are enormous and grow by the day in the same manner that the vulnerable are alarmingly impoverished.
Also, the 10th Senate has its shortcomings yet unwavering in its resolve to remain people-oriented.
But as has been the case, the overall impacts depend on what the executive branch does with the legislative outputs.
For example, insecurity is one of the perennial threats that diminish all efforts at restoring public confidence in governance. But despite its growing complexities, the Senate is not relenting. Added to a series of interventions since inception, it recently presented the presidency with an advisory for a comprehensive approach
to addressing this scourge.
In this quarter, it deepened those efforts with a special panel for “a holistic solution to the problem of farmers and herders clashes and killings all over the country including convening a national summit involving academic, research institutions and all stakeholders, farmers, herders, community leaders, traditional rulers”.
Also the Senate reviewed the persistent “banditry attacks in Katsina, Sokoto, Zamfara, Kaduna and Kebbi states”, the gruesome murder of “innocent indigenes of Nimbo, Adani and other communities in Uzo-Uwani LGA, Enugu State” as well as the incessant killings and
destruction of properties sequel to boundary disputes among the states. It thus recommended “a thorough review and evaluation of the strategies employed by security agencies” particularly in the area of intelligence gathering towards making the farmlands safe and secure for “increased food production and food security” and also “police and military presence in Uzo-Uwani LGA”. Others were urgent intervention on the “Agojegu Odo, Ajokpachi Odo, Bagaji, and Bagana Communities in Omala Local Government Area of Kogi State, affected by gunmen attacks and killings” and then, “a six-month time frame within which all boundary disputes relating to Odukpani LGA of Cross River State and Ukwa Community of Abia State should
be addressed through proper and sustainable demarcation of all areas under dispute” in addition to establishment of “mobile police barracks/station within the area for easy deployment to troubled spots”.
Again, the Senate called for the immediate conversion of “the deserted and uncultivable waste land of the abandoned Shell Airstrip at Oloibiri Oil Well, Otuogidi in Ogbia LGA of Bayelsa State” into an air force base.
-Egbo, a parliamentary affairs analyst, writes from Abuja.
Musa Ilallah writes on the expected gains of the amendment to the 2023 Finance act Bill recently passed by the National assembly.
Nigeria is set to implement something unprecedented: a 70 percent Tax or Levy on a ‘windfall’ profit that accrued to commercial banks following last year’s significant devaluation of the Naira—a devaluation arising from a series of significant economic reform initiatives by President Bola Tinubu’s administration.
The banks had been holding substantial foreign currency assets, which multiplied instantly in local-currency value following the devaluation. A Nigerian newspaper carried out an analysis of Nigeria’s five biggest banks (the famed F-U-G-A-Z) and found that the foreign exchange revaluation gains they declared in H1 2023 – amounting to a combined 1.3 Trillion Naira – were 17 times more than what they declared in the same category the previous year, H1 2022.
The Federal Government has now decided that it will, in the spirit of fairness and redistribution, impose a Levy on the portion of this Windfall profit that has arisen specifically from those FX gains.
The government wants to ensure that the benefit spreads to as many Nigerians as possible, through public spending: the Levy will be spent on infrastructure, education, healthcare and public welfare initiatives.
The Bill sent to the National Assembly to give legal backing to this move, by amending the 2023 Finance Act, has been passed by both chambers.
Opinions have been mixed, expectedly. The argument against it is the one against taxation generally—all things considered, nobody likes taxes or levies—and also the idea that government might be trying to reap where it hasn’t sown. Which of course does not make any sense, considering that it’s the government, through its policy-making, that made the windfall possible in the first place.
There’s also the claim that this move will alarm investors—that it’s some kind of antibusiness move, especially at this time that
the banks are in capital-raising season. But that is a claim that can be dismantled easily. This is a one-off redistributive Levy being imposed on a benefit that will not be replicated in the bank’s books anytime soon. It’s a Levy that fully recognizes the exceptional nature of what is being taxed.
As to the arguments for the Windfall Levy, there are a handful of compelling ones. First is the moral imperative for this benefit to go round to as many beneficiaries as possible. Not necessarily as direct cash handouts, but better still through investment in critical interventions and services—infrastructure, education, health, social welfare and so on. Also, the planned Levy is not seeking to appropriate all of the available windfall.
It is a one-off 70 percent Levy, of a
substantial sum of money, which leaves the balance of 30 percent available for the banks to still benefit from and put to use, in the form of dividends, or whatever else they choose to do with it.
Meanwhile, the Tinubu Administration’s reforms in the last one year have helped restore a level of macroeconomic stability and predictability that’s not been seen in a while. The new banking environment, with its return to orthodox principles, is a big plus for the commercial banks, especially those who are interested in doing banking the right way.
The foreign exchange reforms have clearly been—and will continue to be – very favorable to the banking sector in Nigeria—this massive FX windfall that will now be taxed and invested into critical government spending being just one example of the upsides.
It should also be pointed out that Windfall Taxes/Levies are not uncommon at all, around the world. Since 2022 the UK government has
imposed an annual Windfall Tax on oil and gas companies in the country—which have been enjoying record profits on account of the hike in energy prices caused by the Russian invasion of Ukraine. The UK government has said that the taxes will stop as soon as oil and gas prices drop below a certain threshold. Going forward, in my view, public focus should ideally be on ensuring that the proceeds of the Windfall Levy are spent judiciously and transparently. Nigeria has many things that these funds could be applied to, and it’s important that there are conversations about this.
We have the Renewed Hope Infrastructure Development Fund (RHIDF), the new Students Loan Fund, the Consumer Credit Initiative, the Basic Healthcare Provision Fund. Some of the money could also go into subsidizing CNG vehicle-conversions for citizens, setting them up for lower transport and commuting costs in the long-term.
The key is for the Federal Government to focus on interventions that can be readily felt by as many people as possible. And of course, it makes all the moral and logical sense in the world for Nigerians to directly benefit from monies arising from the effect of foreign exchange reforms that, whilst necessary, have caused quite a bit of pain in the populace. As for the banks, they are in fact also going to benefit from this Levy The economic boost that the application of the Windfall Levy should generate in the wider economy will be felt even by the banks themselves.
I hope that in the public conversation going forward, this Levy on banks’ FX gains is not wrongly framed in ‘government versus private sector’ terms. Instead, it is ‘government, private sector and the people’ versus the many challenges that the funding will address, for the benefit of Nigerian households and businesses. This is definitely one Tax/Levy that all Nigerians should welcome.
-Ilallahcan writes from Lagos
Oluwasegun Ogundairo explores Whisky's emergence from the realm of mere indulgence to an alternative investment avenue, which is captivating the attention of collectors and financial experts alike
Nigeria, which boasts one of the largest economies in Africa, enjoyed a period of robust economic expansion between 2000 and 2014, with an average annual growth rate exceeding 7%. This surge in economic growth was underpinned by a conducive economic environment and the implementation of initial structural reforms to bolster macroeconomic stability.However, a marked downturn began in 2015, characterised by decelerating growth rates and stagnant per capita income. Over the years, other factors have contributed to this economic decline including missteps in monetary and exchange rate policies, widening fiscal deficits exacerbated by declining oil revenues and the costly fuel subsidy, heightened trade restrictions, and the disruptive impact of the COVID-19 pandemic.
The cumulative effect of these challenges has been severe. Nigeria's inflation rate soared to a nearly 30-year peak of 34.19.% in June 2024, underscoring the economy's fragility. This inflationary pressure, coupled with sluggish growth, has plunged millions of Nigerians into poverty, accentuating the country's socioeconomic vulnerabilities.
The need for alternative investment ensued and businessmen, companies, individuals and groups including the government, have simultaneously tried to diversify the economy. Diversifying the economy has been one of the major tasks that most administrations that have come into power since 2015 have tried to do. This however has not been an easy feat as the country relies heavily on oil production, exportation and importation being the second largest oil and gas producer in Africa.
One such alternative investment is Alcohol. In Africa, alcoholic beverages such as palm wine, burukutu, etc. are widely consumed by the indigenous people after being tapped and brewed. They are consumed for recreational purposes and have also played their part as a commercially successful business in the continent.
The consumption of alcoholic beverages is a practice deeply ingrained in human history, spanning centuries across diverse cultures. However, the patterns and purposes of alcohol consumption vary significantly between and within societies.
Alcohol has often served as a cultural touchstone, reflecting societal values, norms, and rituals. In Nigeria, for instance, alcoholic beverages hold a prominent place in various cultural practices, including traditional ceremonies, marriages, chieftaincy installations, and spiritual rites. These occasions underscore the integral role of alcohol in forging social bonds and maintaining cultural heritage.
An African adage aptly captures the significance of alcohol in social contexts: "A man who cries over a woman doesn't know where alcohol is sold." This proverb highlights alcohol's role as a social lubricant and a means of coping with life's challenges.
A report by Premium Times, dividing the
rural-urban divide, quoted that “federal statisticians say there are way more drinkers in Nigeria’s rural communities than in the urban areas. Rural communities spent N125 billion on alcohol consumption, whilst the urban spent N82.5 billion.”
Historically, alcohol consumption in Nigeria has been prevalent, yet excessive drinking was generally frowned upon and often met with social and sometimes legal repercussions. On February5, 2024, Nigeria's National Agency for Food and Drug Administration and Control (NAFDAC) implemented a ban, prohibiting the sale of alcoholic beverages in sachets or containers smaller than 200 millilitres to curb underage drinking and alcohol abuse. It is widely believed that this measure will significantly reduce accessibility to alcohol among children and safeguard the health of Nigerians.
Now, with the nation's evolving sociopolitical and economic climate, drinking patterns are significantly changing with many Nigerians embracing the consumption of premium spirits in a more regulated sector. These emerging trends in alcohol consumption are evident, reflecting a dynamic shift in societal norms. Nigeria’s rising middle class and emerging young consumers are adopting consumption patterns similar to Western countries and are increasingly developing preferences for premium imported brands.
Traditionally, art, wine, and real estate have dominated the alternative investment space.
Yet, the allure of whisky is undeniable. With its limited production, ageing process, and increasing global demand, certain whiskies have become highly sought-after collectables. As supply dwindles and the prestige of specific brands grows, the value of rare bottles has soared, creating a lucrative opportunity for investors.
For instance, The Macallan Valerio Adami 60-Year-Old 1926 is the most sought-after Scotch whisky and the most expensive in the world. When it was sold for a whooping £2,187,500 (over 4 billion naira) in November of 2023 to an anonymous bidder at the Sotheby’s auction in London, The Macallan 1926 earned its place in the Guinness world record as the most expensive whisky sold
at an auction.
Known for its exceptional single malt whiskies, matured in meticulously selected oak casks, The Macallan, a name synonymous with luxury and craftsmanship has cultivated a reputation for producing some of the world's finest spirits. This unwavering commitment to quality has driven an insatiable demand for its limited releases, making them highly sought after by collectors and investors alike.
The Macallan's journey from a beloved whisky to a prised investment asset shows beyond doubt, that its enduring appeal and its ability to consistently deliver exceptional whiskies, coupled with strategic releases and limited production, has created a perfect storm for value appreciation. As a result, rare bottles of The Macallan have achieved astronomical prices at auctions, solidifying its position as a blue-chip investment in the whisky world.
In the heart of Nigeria's bustling cities, a new wave of excitement is bubbling up, thanks to The Macallan. This whisky brand is not just pouring into glasses; it is also pouring into the creative economy, making a splash in Nigeria's whisky market and simultaneously boosting the nation's vibrant creative industry.
The whisky market in Nigeria is experiencing a robust growth rate, projected to reach a value of $251 million by 2027. Thus, The Macallan, with its rich heritage and commitment to excellence, has recognised this potential and is making strategic moves to become a key player in this spirited expansion.
The Macallan's entry into the Nigerian market which is experiencing a robust growth rate, projected to reach a value of $251 million by 2027 signifies a strategic move to tap into the burgeoning luxury consumer base. The Macallan, with its rich heritage and commitment to excellence, has recognised this potential and is making strategic moves to become a key player in this spirited expansion.
Recently this year, the world-renowned Scottish whisky brand unveiled its
For decades, whisky has been revered by consumers as a complex and nuanced spirit, savoured for its taste and aroma. However, in recent years, a remarkable transformation has occurred. Whisky has emerged from the realm of mere indulgence to become a compelling investment avenue, captivating the attention of collectors and financial experts alike
oldest whisky expression in Nigeria ‘The Reach’. The unveiling of 'The Reach', was a bold move in Africa particularly, in the Nigeria market, positioning The Macallan as a premium and aspirational choice for Nigeria's elite.
This launch which made the news when introduced represents more than just a product unveiling; Forbes Africa recognised it as a cultural touchpoint. The 81-year-old whisky has a resounding history, it is a masterpiece that transcends time and embodies the very essence of its 200-year legacy.
When describing the Reach, Kirsteen Campbell, Master Whisky Maker, The Macallan, said, “It is an honour to introduce The Reach, Created during a turbulent time in the world, this extraordinary expression showcases The Macallan’s history, ingenuity and unmistakable strength of character. It’s also a tribute to the people who made this precious whisky, and their enduring spirit which never wavered.”
The event surrounding 'The Reach' in Nigeria showcased the brand's commitment to delivering exceptional experiences and catering to the discerning tastes of Nigerian consumers. The event was attended by over 200 whisky connoisseurs in Nigeria, capturing headlines and making waves across the country. By associating itself with luxury and exclusivity, The Macallan has successfully carved a niche in the hearts and minds of the Nigerian upper echelon.
Assessing The Macallan in Nigeria’s whisky market from its toast to creativity, its influence extends beyond the clink of glasses. The brand has a history of actively supporting the Nigerian creative industry, fostering partnerships that drive the fashion industry towards a projected valuation of $1.92 billion by 2027. From art fairs like Art X Lagos to collaborations with fashion icons like Mai Atafo, The Macallan is no doubt blending the art of whisky with the art of creativity.
For decades, whisky has been revered by consumers as a complex and nuanced spirit, savoured for its taste and aroma. However, in recent years, a remarkable transformation has occurred. Whisky has emerged from the realm of mere indulgence to become a compelling investment avenue, captivating the attention of collectors and financial experts alike. This whisky renaissance is reshaping the landscape of alternative investments, offering a unique blend of passion and profit.
The whisky renaissance has seen a meteoric rise in the value of rare and aged spirits. At the forefront of this trend stands The Macallan, a name synonymous with luxury and exclusivity. This Scottish distillery has captured the hearts and wallets of collectors worldwide, transforming it into a coveted asset in the alternative investment
•Oluwasegun Ogundairo is a PR and communications Adviser in Nigeria
Ifeyinwa uwefoh
Unforeseen government policy shifts can disrupt even the most meticulously crafted investment strategies. This is a major concern for affluent investors, as these policies, while intended to promote a stable financial environment, can have a complex impact on individual investment plans.
Further complicating matters, the financial environment in Nigeria is constantly changing due to shifting economic and regulatory conditions that influence financial activities. These include ever-changing foreign exchange policies and evolving Know-Your-Customer (KYC) legislation, adding layers of complexity or confusion. For High-Net-Worth Individuals (HNWIs) and Politically Exposed Persons (PEPs), navigating the intricacies of wealth management regulations can be particularly challenging. Given the complexity of the regulatory landscape, would a competent wealth manager be valuable in helping you achieve your financial goals?
1. Do not get lost in the Regulatory Maze
Wealth managers possess the expertise to understand and comply with government policies concerning wealth creation, taxation, and succession planning. They can help you navigate regulatory hurdles and even turn policies into opportunities. For example, special tax breaks and exemptions exist for certain sectors and investments.
As a case study, Nigeria offers tax benefits for export-oriented businesses through Export Processing Zones (EPZs) and Free Trade Zones (FTZs) with tax exemptions and relaxed foreign exchange controls. Additionally, companies outside these zones can enjoy a three-year tax holiday if fully export-oriented.
HNWIs often have portfolios spanning across borders, requiring adaptive strategies that align with diverse regulatory frameworks. Accredited wealth managers can ensure adherence to these diverse
regulatory frameworks across territories. Just as the Securities and Exchange Commission (SEC) regulates the Nigerian capital market, so do other countries have their own regulatory bodies with unique structures and consequences for non-compliance.
To ensure seamless compliance across borders, these advisors leverage their extensive network
to collaborate with tax consultants, risk mitigation experts, and other specialists. This comprehensive approach optimizes your wealth management practices. In practice, an advisor could bridge the gap and provide the investment guidance you need in any country of your choice.
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•Ifeyinwa Uwefoh is Group Head, Private Banking
Iran vows to avenge killing, blames Israel for strike Netanyahu says Israel prepared for any scenario
Emmanuel
Hamas’ top political leader, Ismail Haniyeh, was killed yesterday by a predawn airstrike in the Iranian capital, Iran and the militant group said, blaming Israel for a shock assassination that risked escalating into an all-out regional war. Iran’s supreme leader vowed revenge against Israel.
Israeli Prime Minister Benjamin Netanyahu said Israel “will exact a very heavy price from any aggression against us on any front” but did not mention the killing. “There are challenging days ahead,” he added.
Israel had pledged to kill Ismail Haniyeh and other Hamas leaders over the group’s October 7 attack on southern Israel that sparked the war in Gaza. The strike came just after Haniyeh had attended the inauguration of Iran’s new president in Tehran — and hours after Israel targeted a top commander in Iran’s ally Hezbollah in the Lebanese capital, Beirut.
The assassination was potentially explosive amid the region’s volatile, intertwined conflicts because of its target, its timing and the decision
to carry it out in Tehran.
Most dangerous was the potential to push Iran and Israel into direct confrontation if Iran retaliates. The US and other nations scrambled to prevent a wider, deadlier conflict, AP reported.
In a statement on his official website, Iranian supreme leader Ayatollah Ali Khamenei said revenge was “our duty” and that Israel had “prepared a harsh punishment for itself” by killing “a dear guest in our home.”
Bitter regional rivals, Israel and Iran risked plunging into war earlier this year when Israel hit Iran’s embassy in Damascus in April. Iran retaliated, and Israel countered in an unprecedented exchange of strikes on each other’s soil, but international efforts succeeded in containing that cycle before it spun out of control.
Haniyeh’s killing also could prompt Hamas to pull out of negotiations for a cease-fire and hostage release deal in the 10-month-old war in Gaza, which US mediators had said were making progress. And it could inflame already rising tensions between Israel and Hezbollah, which international
diplomats were trying to contain after a weekend rocket attack that killed 12 young people in the Israelicontrolled Golan Heights.
Israel carried out a rare strike Tuesday evening in the Lebanese capital that it said killed a top Hezbollah commander allegedly behind the rocket strike. Hezbollah, which denied any role in the Golan strike, confirmed the death of Fouad Shukur on Wednesday, saying he was in the building that was hit. The strike also killed three women and two children, according to the Lebanese Health Ministry.
White House national security spokesman John Kirby said there was “no sign that an escalation is imminent” in the Middle East and that a cease-fire agreement for Gaza was still possible. He also said the US could not independently confirm reports of what occurred in Tehran.
Asked about Haniyeh’s killing, US Secretary of State, Antony Blinken said: “This is something we were not aware of or involved in.” Speaking to Channel News Asia, Blinken said he would not speculate about the impact on cease-fire efforts.
Khalil al-Hayya, a powerful figure within Hamas who was close to Haniyeh, told journalists in Iran that whoever replaces Haniyeh will “follow the same vision” regarding negotiations to end the war — and continue in the same policy of resistance against Israel. Hamas’ main consultative body was expected to meet soon, likely after Haniyeh’s funeral Friday in Qatar, to name a successor.
Israel often refrains from commenting on assassinations carried out by its Mossad intelligence agency or strikes on other countries.
But in a statement by his office, Israeli Defence Minister Yoav Gallant said Israel doesn’t want war after its strike on the Hezbollah commander in Beirut, “but we are preparing for all possibilities.” He did not mention the Haniyeh killing.
The killing of Haniyeh abroad comes as Israel has not had a clear success in killing Hamas’ top leadership in Gaza, who are believed to be primarily responsible for planning the October 7 attack.
Haniyeh left the Gaza Strip in 2019 and had lived in exile in Qatar. Israel has targeted Hamas figures
in Lebanon and Syria during the war, but going after Haniyeh in Iran was vastly more sensitive.
Iran’s powerful Revolutionary Guard warned Israel will face a “harsh and painful response” from Iran and its allies around the region. An influential Iranian parliamentary committee on national security and foreign policy was to hold an emergency meeting on the strike later yesterday.
Hamas’ military wing said in a statement that Haniyeh’s assassination “takes the battle to new dimensions and will have major repercussions on the entire region.”
But Netanyahu has said Israel will continue its devastating campaign in Gaza until Hamas is eliminated.
On Wednesday, he asserted that “everything” Israel has achieved in recent months was because it resisted pressure at home and abroad to end the war.
Israel’s bombardment and offensives in Gaza have killed more than 39,300 Palestinians and wounded more than 90,900, according to the Gaza Health Ministry, whose count does not differentiate between civilians and combatants.
China has said it is deeply concerned about the exacerbation of upheaval in the region and what it may trigger. The representative said military means offer “no solutions” and “will only lead to a bigger crisis”.
An emergency United National Security Council meeting had also started last night, with representatives set to discuss the killing of Haniyeh. The ongoing conflict in the Middle East also left the region with a growing list of cancelled flights. United, Delta and British Airways were expected to suspend flights to Tel Aviv beginning Wednesday evening, BBC said. Greece’s Aegean Airlines and Germany’s Condor also cancelled flights to Beirut on Tuesday. And Air France and Lufthansa announced flight cancellations to Beirut on Monday. Because of recent escalations in the region, the US has issued a new advisory, external to its citizens, urging them to avoid travelling to Lebanon.
“Do not travel to Lebanon due to rising tensions between Hezbollah and Israel,” the travel advisory said.
Following the launch of Nigeria’s first multilingual large language model (LLM) initiative by the federal government in April this year, Awarri, the Nigerian startup selected to build the country’s first Artificial Intelligence (AI), has engaged over 500 fellows of the federal government’s ‘3 Million Technical Talent’ (3MTT) programme.
The aim is to use the cohort as data collectors in building the multilingual large language model that will enhance research and development in AI.
The Minister of Communications, Innovation, and Digital Economy,
Emma Okonji
Leading healthtech consulting firm, Salient Advisory, has released its latest market intelligence report, focusing on 24 leading Africafocused supply chain innovators, which appear to be on the cusp of more substantive impact.
The report titled: ‘Leading Innovations Enabling Health Product Access in Africa’, ranked Nigeria as a leader in fostering healthtech innovation and integration in Africa.
Dr. Bosun Tijani, who disclosed this in a recent post on his verified X handle, reiterated the government’s commitment to creating more jobs for Nigerians in the tech space, insisting that the initiative will enhance the creation of digital jobs for Nigeria, in today’s era of Artificial Intelligence.
“This is a landmark initiative that will cement Nigeria’s position as an emerging leader in African AI research and development,
“I’m glad to see the growth of the Awarri team since its launch in November 2023 to 120 staff, with an additional engagement of over 500 fellows from our 3MTTNigeria programme as data collectors, as they build Nigeria’s
first multilingual large language model,” Tijani said.
According to the minister, Awarri kicked off operations with 100 AI jobs in Ikorodu in November last year. He described the startup as a ‘full-stack offering that ranges from data gathering to model creation and AI application development’.
“Looking forward to seeing more companies in the space as we slowly but surely build a technology workforce that will contribute to global AI development,” Tijani stated in a post on his verified X handle.
The federal government had in April this year, launched the country’s first multilingual large language model (LLM) through the country’s Ministry of
Communication, Innovation and Digital Economy.
Tijani had announced that the launch of the AI solution came from a four-day AI workshop held in Abuja.
Tijani further said the launch of the AI tool was facilitated by a collaboration involving Nigerian AI company, Awarritech; global technology company DataDotOrg; the National Information Technology Development Agency (NITDA); and the National Centre for AI and Robotics (NCAIR).
“The LLM will be trained in five low-source languages and high-end English to ensure a stronger language representation in existing datasets for the development of artificial
intelligence solutions,” Tijani said.
The minister added that Nigeria developed an initial draft of its National AI Strategy, which showed notable progress and collaboration aimed at promoting the growth of the nation’s AI following the four days of cooperative effort involving over 120 AI professionals.
During the workshop, Tijani reannounced the launch of the NCAIR, an entity dedicated to promoting research and development in AI, robotics, unmanned aerial vehicles, and the internet of things, as well as their practical applications in Nigeria’s key sectors.
He stated that the capacity increased at NCAIR would allow it to be more effective in carrying
out its role as a centre for digital innovation and research.
Tijani revealed that the National AI Strategy has received initial funding of $3.5 million from interested partners under the Federal Ministry of Communication, Innovation, and Digital Economy.
He noted that foreign and local partners also supported the funding, including UNDP, UNESCO, Meta, Google, Microsoft, Lumite, Lagos Business School, Nigerian Science Data, NITDA, among other institutions.
This includes $1.5 million of direct funding and an additional $2 million invested by 21st Century Technologies into the trial programme.
The report highlights that 29 per cent of the top healthtech innovators in Africa are based in Nigeria, with governments in the country paving the way for healthtech collaboration to optimise supply chains.
According to the report, 24 leading innovators are identified in advancing African healthcare despite facing significant economic challenges. The innovators have established extensive partnerships with over 100 manufacturers, 75 public health institutions, and
Funded by the Bill and Melinda Gates Foundation, the report addresses how healthtech supply chain innovators are emerging as leaders in the face of difficult macro-economic realities and a declining investment in African healthtech.
nearly 50,000 providers across 33 countries.
Kasha made news capturing Series B investment last year, and has since gone on to build its health technology access platform and report annual revenues of more than $50 million in 2023 – the highest ever recorded by Salient’s research to date.
Like Kasha, innovators that offer digitally-enabled Order and Inventory Management services to hospitals, clinics, pharmacies and drug shops appear dominant amongst the leading companies, making up 13 of the 24 featured innovations, with operations in 30 countries. Four leading online
pharmacies are reaching nearly 10 million customers and generating median annual revenues of nearly $9 million. The other categories featured in the report are innovations in product protection and visibility, medical drone delivery and data analytics.
“While leading innovators now appear positioned to deliver more substantive impact, they require targeted engagement from governments, donors, industry and global health institutions to transform access for unserved populations and improve the cost-effectiveness of care. To leverage leading innovators’ models in driving increases in access, governments,
industry, donors and global health agencies should simplify regulatory pathways; explore innovators’ ability to generate cost- savings for health systems, pursuing partnerships when the evidence is strong; and evolve contracting and payment systems to enable innovators to partner in healthcare delivery systems at larger scale,” the report said.
The 24 leading innovators featured, include: Chefaa, DrugStoc, Field Inc, Figorr, Grinta, HealthPlus, Kasha, LifeBank, Maisha Meds, Meditect, mPedigree, MYDAWA, Pendulum, PharmaSecure, Remedial Health, RxAll, Sobrus, Sproxil, Talamus Health, VIA Global Health, Viebeg, Wingcopter, Yodawy and Zipline.
Speaking on the launch of the report, Engagement Manager at Salient Advisory, Yomi Kazeem, said: “The findings underscore the remarkable resilience and growing impact of African supply chain innovators. Having tracked healthtech startups for many years, the emergence of a group of leading innovators is exciting to report. Local and global public health communities must increasingly recognise and leverage the innovators in developing reliable and resilient health supply chains.”
L-R; CEO, Sterling One Foundation, Olapeju Ibekwe; Special adviser to the President of Nigeria on Presidential Enabling Business Environment Council (PEBEC), and Investment,Dr. Jumoke Oduwole; Deputy Governor, Lagos State, Obafemi Hamzat and MD/CEO, Sterling Bank and member of the Board of Trustees, Sterling One Foundation,Abubakar Suleiman at Day 1 of the Africa Social Impact Summit in Lagos… recently
Stories by Ebere Nwoji
The Commissioner for Insurance, Mr Olusegun Ayo Omosehin, has urged insurance professionals to be committed to promoting a robust, resilient, strong and stable insurance industry that contributes to the economic stability and growth.
Omosehin, who made this call at the investiture ceremony of the 52nd President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs Yetunde Ilori, said this has become necessary given the fact that emerging realities and developments at the global and national levels today obviously call for a collaborative effort among insurers to reposition the insurance profession and rebrand the industry such that the narratives could be better understood by all.
He said insurers should be mindful of the perception of the insurance profession by the public and be deliberate in putting their narratives across, adding that NAICOM on its own would not be left out of the needed efforts.
According to him, “On our part, the National Insurance Commission (NAICOM) is committed to aligning the insurance sector with the renewed hope agenda of President Bola Ahmed Tinubu, and his ambitious goal of growing the Nigerian economy to $1 trillion by 2030.
“At NAICOM we view the institute as one of our veritable partners in the development of the much needed skilled-professionals
Group Business Editor
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Deputy Business Editor
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Comms/e-Business Editor
Emma Okonji
Asst. Editor, Energy
Emmanuel addeh
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in the course of achieving this goal. It is therefore imperative to reiterate our continuous support to the institute in the discharge of its responsibilities and look forward to exploring additional mechanisms of enhancing the existing relationship with the Institute and in facilitating improved perception, transparency and public confidence in the insurance industry.”
He commended the efforts of
Sanlam and Allianz have announced the launch of their joint venture brand, SanlamAllianz, in Ghana. This follows the regulatory approvals of the Sanlam and Allianz businesses in Ghana obtained recently to merge and rebrand to SanlamAllianz.
A statement by the two firms said the SanlamAllianz joint venture, which was launched in September 2023, is the leading pan-African nonbanking financial services company, which operates in 27 countries across the continent.
AIICO Insurance Plc, said it has continued its strong growth trajectory having declared a profit after tax of N12 billion for the financial year ended December 31, 2023, up from the N5.2 billion it posted during the corresponding period in 2022.
Disclosing this to shareholders at the 54th annual general meeting (AGM) of the company in Lagos, AIICO’s Chairman, Mr. Kundan Sainani, noted that the profit after tax increased by 132.6 percent.
the institute’s outgoing President & Chairman of Council, Mr Edwin Igbiti and members of the Governing Council of the CIIN for their steadfast commitment towards the promotion of Insurance education and professionalism among members. He affirmed that the new CIIN President, Ilori’s journey to the prestigious position was a testament to her unwavering dedication, exceptional leadership, and profound
The statement said the CEOs of the two businesses were Tawiah Ben-Ahmed, Chief Executive Officer/ MD of SanlamAllianz Life Insurance Ghana, and Mabel Nana Nyarkoa Porbley, Chief Executive Officer/ MD of SanlamAllianz General Insurance Ghana.
According to the statement, SanlamAllianz’s ambition is to leverage its global and pan-African expertise, and unlock growth in Africa’s high-potential economies, in line with its purpose to empower
Sainani further disclosed that year 2023 produced other significant gains for the company as a consequence of the meticulous execution of its business strategy, resulting in a gross written premium of N110.1 billion during the review year as against N88.3 billion in 2022.
The result, according to him, was achieved as the company transitioned from using IFRS 4 to IFRS 17 standard, which resulted in the recognition of insurance revenue
Issues bothering on roles of insurance and pension sectors in achieving Federal Government’s projected $1 trillion economy will form the thrust of this year’s edition of Annual Conference of the Nigerian Association of Insurance And Pension Editors (NAIPE) scheduled for October 8, 2024. This year’s edition, which is 9th in series, has the theme: “Towards a $1 Trillion Economy: Roles of Insurance and Pension Sectors.”
NAIPE Chairperson Nkechi
Naeche - Esezebor speaking on the conference said the conference chairman would be the former Commissioner for Insurance, National Insurance Commission and currently the Managing Director/CEO, FBS Reinsurance Limited, Mr. Fola Daniel. She also said the Keynote Speaker is the Managing Director/Chief
Leadway Assurance Company Limited said it paid a total of N67.1bn in claims as at December 31, 2023 . With this, the company said it has proudly maintained its position
as the industry leader in claims payments for the eighth consecutive year, adding that the claims payment this year was a significant increase from the N57.5bn paid in 2022.
Leadway Chairman General
commitment to the insurance sector.
He said, “As the immediate past Director General of the Nigerian Insurers Association (NIA), she demonstrated remarkable expertise and visionary leadership that greatly contributed to the advancement of that association and by extension our industry. Today, it’s on record that during her tenure as the DG of the NIA and with the support of the governing council, the NIA
generations to be financially confident, secure and prosperous.
“This will be achieved through supporting financial inclusion through innovative, cutting-edge technology and diverse financial services that create shared value for all stakeholders”; the statement said.
Commenting on the deal, SanlamAllianz CEO, Mr Heinie Werth, said: “Launching the SanlamAllianz brand in Ghana marks a new milestone for us and the broader financial services
of about N72.6 billion from N54.8 billion in 2022, demonstrating the company’s commitment to transparency and robust financial practices.
He said these results were achieved in the midst of serious socio-economic challenges typified by increases in monetary policy rate, inflation, removal of fuel subsidy, forex scarcity, and the 2023 fiscal bill, all of which contributed to the rise of domestic prices.
“Despite this unsettling
Economist of the Analysts Data Services and Resources, Dr. Afolabi Olowookere.
According to her, the event is set to bring together stakeholders in the insurance and pension sectors to discuss the importance of their contribution to the $1 Trillion Economy benchmarked by the present administration for achievement before 2026.
Martin Luther Agwai (rtd), addressing Shairholders at the 52nd annual general meeting of the company in Lagos said the remarkable journey began in 2016 with N23 bn in claims payments, the
delivered a befitting head office. The 7-storey building with a mezzanine floor has become the pride of the entire insurance industry.”
Omosehin, said the new CIIN President’s achievements and wealth of experience, coupled with her relentless pursuit of excellence, made her the perfect choice at this critical time to lead the institute to new heights, fostering a culture of continuous improvement, growth
market and our commitment to doing business in Ghana. It demonstrates our strategy to leverage our expertise to create leading businesses in the economies where we choose to operate and supports our intention to enable access to financial services.”
According to him, the joint venture will also leverage the combined economies of scale of the shareholders of Sanlam and Allianz, as well as greater distribution opportunities,
landscape, 2023 was another strong year for AIICO, with the firm generating impressive record revenue and substantial growth.
Our profits for the period increased by 132.6 percent to N12 billion from N5.2 billion in 2022, reflecting strong underlying performance across our businesses,” he said.
Referencing the dynamics in the economy and projecting into the future, Sainani said AIICO remains resilient and adaptable, ready to provide more
Nigerian President, Bola Ahmed Tinubu, while attending the 29th Session of the Nigerian Economic Summit Group (NESG) from October 23 - 24, 2023, promised to grow the nation’s Gross Domestic Product (GDP) to $1 trillion by 2026.
Presently the main drivers of the economy are crude oil, agriculture, services and manufacturing. As the country diversifies to meet the set
and innovation. Speeking, Ilori said, “Today, as I willingly, without coercion accept to be the 52nd President of the Chartered Insurance Institute of Nigeria, the 8th woman to take on the role, I know expectations are high. I am going to have to compete with myself to surpass my achievements in my previous roles especially as the Director General of NIA,” she said.
shared knowledge, and existing partnerships in telecommunications and bancassurance to benefit customers.
In September 2023, Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with more than a century of history in Africa, joined forces to create the largest pan-African non-banking financial services entity on the continent, as SanlamAllianz.
favourable terms to its valued customers and strategically invest in opportunities that yield advantageous returns.
On his part, AIICO’s Managing Director/Chief Executive Officer, Mr. Babatunde Fajemirokun, assured the shareholders of high value and better returns on investment in the years ahead. Fajemirokun said both the board and management were considering devoting a bigger chunk of future profits to dividend payments.
target, there will be opportunities thrown up, therefore the insurance and pension sectors must be ready to take advantage of those opportunities. Esezobor, said the theme of the conference was carefully chosen to draw the attention of the operators of two sectors to the realities on the ground and the need for them to make a difference and remain relevance in the scheme of things.
highest by any individual insurer that year. According to him, each subsequent year has seen substantial growth, from N27.40 bn in 2017 to N33.80 bn in 2018, reflecting Leadway’s
unwavering commitment to its policyholders. In 2019, he said claims payments rose to N38.40 bn, showcasing Leadway’s ongoing dedication to excellence.
B2C Business Director at Canon Central and North Africa, Mr. Rashad Ghani, spoke with Emma Okonji about the growth of Canon business in Nigeria and the initiative to collaborate with partners to empower Nigerian women with technology skills. Excerpts:
Tell us more about your visit to Nigeria, and how will you describe the impact of your visit to the Canon business in Nigeria?
Nigeria is a big market for the Canon imaging and printing business and Nollywood in Nigeria is a fast growing industry that has embraced the Canon imaging and printing brand. So we at Canon are interested in further growing the Nigerian Nollywood industry and all Nigerian businesses that have chosen the Canon imaging and printing brand. I visited Nigeria to celebrate the successful conclusion of ‘Women Who Empower’ programme, initiated by Canon in partnership with Women in Successful Careers (WISCAR), which seeks to train women in digital skills. The woman empowerment programme is dedicated to train Nigerian women in printing, photography and content creation, designed to equip women with valuable skills and knowledge. My visit was significant because it gave me opportunity to meet with our partners and to give them the needed support and encouragement to grow the Canon business in Nigeria.
How is the Canon business structured in Nigeria and Africa?
Canon operates regional offices in Africa. Six regional offices are based in Nigeria, Kenya, Egypt, Cote d Ivoire, Morocco and Algeria and we manage the entire Central, East, North and West Africa from Dubai. The Nigerian team manages the Canon business in Nigeria and Ghana, the Cote d Ivoire team manages the West and Central African countries, the team in Morocco manages Canon business in Morocco, the Egyptian team manages the Canon business in Egypt, Lybia and Sudan, the Kenyan team manages Canon business in Kenya, while the Algerian team manages Canon business in Algeria and Tunisia.
How will you describe Nigeria’s market potential and Conon’s commitment to the growth of Nigerian market?
The Nigerian market for printing and imaging
brand is immense with great potential. Nigeria has the highest population in Africa with vibrant youths that are technology inclined, and this is attracting a lot of businesses to Nigeria. Canon, which is a global printing and imaging brand, believes strongly in developing talents with technology skills in the areas of printing and imaging.
Tell us more about the Canon B2C business that you oversee in Central and North Africa?
The Canon B2C is about business to consumer that allows customers have access to Canon products like cameras, printers, lenses among others that will enhance their business as customers. All our products are in high demand in Nigeria and the sales
of the products are industry specific. In Computer Village in Lagos, for instance, a lot of printers are sold there on a daily basis, and if you go to other markets and malls in Nigeria, the sales of cameras and lenses are high. So all our printing and imaging products are in high demand in Nigeria and volume of sales differ across all the markets where our printing and imaging products are sold in Nigeria, based on industry specifics. So it will be difficult to know which product sells highest in Nigeria, but all our products are doing well in the market.
How is counterfeiting affecting the Canon product sales in Nigeria, and what are the measures put in place to address counterfeit products in the markets where Cano operates?
Counterfeiting is not peculiar to the Nigerian market. It is a global issue that is affecting businesses globally and it could be addressed through education and communication. Many customers are ignorant of counterfeit products and they actually want the original products but most times they end up buying the counterfeit products because of ignorance, and more so because the counterfeit products, in most cases, look like the original products. So a lot of communication and education are needed to create awareness for the consumer to be able to differentiate between counterfeit products and original products. Canon, for instance, does a lot of training programmes to educate customers on the dangers of counterfeit products and how to identify original Canon products. Most printers in the markets are refurbished printers and customers buy them out of ignorance, thinking they are original printers from the Original Equipment Manufacturers (OEMs). So there are various methods to identify original Canon printing and imaging products and we have trained several customers, including partners on
how to identify original Canon products.
What is Canon’s position in the global printing and imaging market and how is this affecting or enhancing sales?
In the global market, the Canon printing and imaging brand is a strong brand and it is rated high in research and development. Canon products are rated very high in the US market. In imaging, Canon is rated number one globally. In Printing, Canon is rated number two globally, but in specific markets like the Nigerian market, Canon is number one in printing products, and we are rated high in different categories of products.
How will you describe the market penetration of Canon products and the growth of B2C business in Nigeria and other African countries?
Our market penetration in Nigeria and in other African countries is phenomenal, as the demand for Canon printing and imaging products in Nigeria and Africa is on the high side. We value the Nigerian and African markets so much and that is why we have our local team in Nigeria and in some African countries. Many brands in the printing and imaging market do not have their local team on ground and because we do have our local team on ground, we are closer to the people and we are meeting the demands of the people. So we have the local touch points and we have built local relationships over time.
For the Business to Consumer (B2C) growth, I will say the growth potential is on the rise and we are doing well as a business. Today the Canon business has grown four folds in Nigeria, considering the volume of sales when we started the business in Nigeria several years ago. We have good business relationship with our partners and they are instrumental to the rapid growth of the Canon B2C business in Nigeria and in other African countries.
The story continues online on www.thisdaylive.com
Raheem Akingbolu writes on the challenges before the Heads of Advertising Sectoral Group, urging the new chairman of the group, Mr. Lanre Adisa to brace up to face the task.
The Heads of Advertising Sectoral Group (HASG) is the apex body overseeing the advertising ecosystem in Nigeria. It comprises various sectoral groups, including the Association of Advertising Agencies of Nigeria (AAAN), Advertisers Association of Nigeria (ADVAN), Media Independent Practitioners of Nigeria (MIPAN), Outdoor Advertising Association of Nigeria (OAAN), and Experiential Marketers Association of Nigeria (EXMAN).
The chairmanship of HASG rotates among these associations. Recently, the President of MIPAN, Mr. Femi Adelusi, handed over the chairmanship to the new President of AAAN, Mr. Lanre Adisa, who now assumes the role of HASG Chairman.
In recent years, HASG has faced significant challenges. Apart from a joint press conference held in solidarity with OAAN when outdoor advertising sites were indiscriminately demolished by the Nasir El-Rufai government in Kaduna State, in 2022, the organisation has been largely inactive. The crisis within HASG deepened with ADVAN’s recent withdrawal from the umbrella body.
According to a letter signed by the Chief Executive Officer of ADVAN, Mrs. Ediri Ose-Ediale, the decision for the withdrawal followed an extensive deliberation and careful consideration by the ADVAN Executive Council and association members.
In the letter, which was addressed to the HASG chairman, Dr. Olufemi Adelusi, ADVAN, who stated that while their participation in HASG has provided valuable opportunities for collaboration with industry professionals, it was further stated that recent activities of HASG have deviated from its stated objectives.
Among other objectives, the association listed; promoting investment in advertising services, fostering trust in the advertising sector, nurturing closer relationships among advertising sectoral associations, and engaging in discussions on regulations affecting advertising practices in Nigeria.
ADVAN highlighted that, despite repeated engagement, their contributions and submissions have not been adequately acknowledged or acted
upon by HASG. The association emphasised the need for transparency, accountability, and inclusion in successful joint committees, which they found lacking in recent HASG activities.
“Regrettably, we have experienced a departure from these objectives in the recent activities of HASG,” the letter stated.
“In light of the apparent selective inclusion and predetermined outcomes, we find it necessary not only to withdraw from HASG but also from other ad-hoc industry committees where similar biases exist until such a time we are convinced that these biases have been fully and transparently resolved,” the statement added.
Providing further reasons for its decision, it pointed out that, “A case in point is the recent launch of the Audience Measurement system by ARCON and the Ministry of Information. Honestly, we have no clue on any of the modalities of the system.
However, ADVAN reaffirmed its unwavering commitment to fulfilling its obligations to participate in all statutory committees and its dedication to fostering a thriving marketing industry. The association said it remains open to transparent conversations and programs aligned with these objectives, adding that, “We will reconsider our decision once we are certain that principles of accountability, trust and transparency in all dealings will be upheld.”
With a new chairman, it is expected that HASG would review the entire scenario and find a way of calming the nerves to bring about a peaceful resolution that would reabsorbed ADVAN into the fold.
Besides, the new Chairman faces a daunting task in restoring stability and vibrancy to HASG in addressing the task ahead.
REBuIldING
The introduction of the Advertising Industry Standard of Practice (AISOP) has created a significant rift within HASG, with ADVAN opposing the new regulation by the Advertising
Regulatory Council of Nigeria (ARCON). The Advertisers had rejected the implementation of the AISOP on the basis that it makes an unconstitutional attempt to infringe on the rights of private entities to determine their contractual terms.
Though, the association expressed its support of the plan to create a Standard of Practice for the advertising industry, pointing out that a key objective of ADVAN is to facilitate and support progress in the advertising and marketing communications industry but it faults some areas in the new order.
The issue reached the peak last year when ADVAN filed a lawsuit to challenge the constitutionality of the amended Advertising Regulatory Council of Nigeria Law.
According to a statement issued by ADVAN President, Osamede Uwubanmwen, the move to challenge the new advertising law came after a thorough and deliberate consideration of the law’s implications for the advertising industry and its members.
He added that ADVAN views the legal action as an essential response to safeguard the interests of its members and the integrity of the marketing profession in Nigeria. With this development, it is obvious that the new Chairman must work diligently to rebuild trust and cohesion among the members to ensure the association can move forward effectively.
As a crucial stakeholder within HASG, the exit of the advertisers from the fold may pose a threat to the body’s influence and unity. The new Chairman must prioritize fostering peace and negotiating ADVAN’s return to the fold, as their involvement is vital for HASG’s overall health and efficacy. All over the world, advertisers are the mainstay of the advertising business because the advertising
spending resides with them. They play a vital role in the e-commerce ecosystem and boost overall business growth.
Over the years, outdoor advertisers have been regarded as the endangered species in the industry because of incessant class between them and the regulators, which often arise as a result of multiple taxation and duplication of regulators. The problem got compounded at the twilight of the current Nigeria President, Bola Tinubu, as the governor of Lagos State when he established the Lagos State Signage & Advertisement Agency (LASAA). Rivalry sparked between the new body and OAAN over unfriendly rates and highhandedness. Other states, like Kwara, Cross Rivers, Ondo, Oyo, Kaduna and Ekiti have since established similar agencies. Though OAAN and the state bodies are expected to be partners in progress, the situation on ground is still far from this, despite various moves made by successive administrations to broker peace, especially in Lagos, which happen to be the hub of outdoor business.
Currently, at the national level, a new bill, the Chartered Institute of Out-of-Home Media Practitioners of Nigeria (Establishment) Bill, 2024, sponsored by Senator Enyinnaya Abaribe, poses another significant challenge. If passed, this bill could undermine HASG’s remaining influence, as it is seen by many experts as an unnecessary duplication of ARCON’s functions, with many articles mirroring existing ARCON laws. The new Chairman must actively engage with stakeholders and legislators to address the potential impact of this bill and advocate for the interests of HASG and its members.
The new HASG Chairman has a formidable task ahead, needing to address internal divisions, restore unity, and navigate legislative challenges to reinvigorate the organization and restore its standing in Nigeria’s advertising industry. Most importantly, HASG needs to galvanize all sectoral bodies to be committed to various activities of ARCON to arrive at a common ground.
Stories by Emma Okonji
SeerBit, a financial payment solution company has stressed the need for unified payment system across African countries, in order to ease trade and financial transactions.
CEO of SeerBit, Mr. Omoniyi Kolade, who said this at a media interactive session organised recently by SeerBit in Lagos, decried the multiple payment systems across African countries, which according to him, inhibit free trade and financial transactions within African countries.
Recognising the challenges associated with multiple payment systems, Kolade said a unified
payment system across African countries, would address such challenges.
In her presentation, Product Marketing Manager at SeerBit, Uju Akinlolu, said the company would continue to enable businesses to grow by enabling payments across value chains.
“We provide support to the payment ecosystem to ensure that businesses scale.
Payment is the lifeblood of commerce and our vision is to scale businesses at the speed of commerce and technology.
We power payment in three folds: Payment connections, Payment
disbursement (Flow Management), and Solutions that enable businesses to leverage on our expertise to be able to develop products and take them to the market faster.
“We build a module of payment solutions that we can customise for them that will help them go to market much faster. We work with organisations from the place of understanding what their ecosystem is and what it will take for them to scale and we empower payment across the value chains. We also work with global businesses that want to penetrate and scale into African countries,” Akinlolu said.
In a significant move to deepen its advocacy objectives and enhance collaboration between regulators and Fintechs in Nigeria, FintechNGR, led by its president, Ade Bajomo, engaged with the Securities and Exchange Commission (SEC) in Abuja recently.
During the meeting with the SEC Director General, Dr. Emomotimi Agama, and the SEC management team, the pivotal role of FintechNGR as a leading Fintech association and enabler was highlighted. The discussions focused on recent developments in the Fintech sector, virtual assets, and fostering richer engagements between regulators and Fintechs.
Bajomo commended the President of Nigeria, Bola Ahmed Tinubu, for appointing highly qualified and distinguished individuals to the SEC’s current management team. He emphasised their crucial role
in shaping \fintech regulation in Nigeria. Agama on his part, briefed the FintechNGR team on the new energy and direction of the SEC, aiming to further harness the benefits of Fintechs for the overall economy. He stated: “SEC’s
participation has been central to the evolution of the fintech ecosystem in Nigeria. We believe that proper regulation of Fintechs and their affiliates can significantly enhance the market and deepen the investment landscape.”
Google has announced the 8th cohort of its Google for Startups Accelerator Africa programme.
This year’s cohort features ten innovative startups from Nigeria, Kenya, Rwanda, and South Africa, selected from nearly 1,000 applications, highlighting the remarkable talent and creativity in the African tech ecosystem.
Startups play a pivotal role in driving economic development
and technological innovation in Africa. By addressing local challenges with tailored solutions, the selected startups are not only creating jobs but also enhancing the quality of life across the continent. Despite the current ‘funding winter; in sub-Saharan Africa, where investment flows have slowed, the resilience and ingenuity of African entrepreneurs continue to shine.
With 3,623 suspected Cholera cases and 103 deaths recorded across 34 states and the Federal Capital Territory as of July 15, 2024, thisoutbreak has put significant strain on Nigeria’s healthcare system, highlighting the urgent need for long-term measures to improve water and sanitation infrastructure and educate the populace about hygiene practices. Chiemelie Ezeobi writes that this has also made the ongoing efforts by the Private Sector Health Alliance of Nigeria (PSHAN) to revitalise primary healthcare centres across Nigeria’s 774 Local Government Areas, increasingly crucial
Nigeria is currently in the grip of a severe cholera outbreak, a crisis that has already claimed 40 lives and is spreading rapidly across multiple states. A highly infectious disease, cholera poses a grave threat to public health, particularly in areas with poor sanitation and limited access to clean water.
This acute diarrheal illness is characterised by the sudden onset of profuse watery diarrhoea, which can lead to severe dehydration and, if untreated, death.
The causative agent, a bacterium called Vibrio cholerae, is typically found in areas with poor sanitation, making cholera outbreaks common in areas with inadequate sewage treatment and unclean drinking water. Most individuals get infected when they take water or other food substances contaminated with faeces from an infected person. The World Health Organization (WHO) estimates that cholera affects 1.3 to 4 million people worldwide annually, resulting in up to 143,000 deaths.
Cholera manifests very rapidly, with symptoms appearing between 12 hours and five days after ingestion of the contaminated substance. Without prompt and adequate treatment, the illness can lead to shock and death within hours. However, proper rehydration can reduce the mortality rate to less than 1%, offering hope in the face of this deadly disease.
Primary Symptoms
Primary symptoms to watch out for include Severe watery diarrhoea: Often described as “ricewater stools” due to its appearance; Vomiting: This leads to further loss of fluids and electrolytes; Leg cramps: Due to severe dehydration and electrolyte imbalances; and Rapid heart rate: A sign of severe dehydration.
Cornerstone of Treatment
The cornerstone of cholera treatment is rapid rehydration. Oral Rehydration Salts (ORS) are highly effective in replacing lost fluids and electrolytes. In severe cases, intravenous fluids may be necessary. Antibiotics can shorten the duration of diarrhoea and reduce the volume of rehydration fluids needed.
Zinc supplementation is also beneficial, particularly for children, as it helps reduce the duration and severity of diarrhoea. For treatment to be effective, it must be administered promptly. Community health workers and volunteers are crucial in
identifying early cases and ensuring patients receive the necessary care.
Current Situation in Nigeria
As of Thursday, June 27, 2024, the Nigeria Centre for Disease Control and Prevention has reported 1,141 suspected cholera cases across 30 states. Among these, 65 cases were confirmed, resulting in 30 deaths across 96 local government areas within these states.
Lagos, Nigeria’s most populous city, has been hit the hardest, with 79 suspected cases, 43 laboratoryconfirmed cases, and 29 cholera-related deaths, according to the state Commissioner for Health, Prof Akin Abayomi.
As at July 15, 2024, the Nigeria Centre for Disease Control and Prevention, said it has recorded 3,623 suspected Cholera cases and 103 deaths across 34 states and the Federal Capital Territory.
Even though there has been a 5.6 per cent decline in the number of cases between July 8 to 14, 2024, (8th -14th July) as compared to the preceding week, the Director General of the NCDC, Dr. Jide Idris, said the current outbreak had spread to 187 local government areas, with a cumulative case fatality rate of 2.8 per cent since the beginning of the
year with the predominant age affected being five years old, while males account for 52 per cent of cases and females account for the rest.
Efforts by PSHAN to Revitalise PHCs
This outbreak has put a significant strain on Nigeria’s healthcare system, highlighting the urgent need for longterm measures to improve water and sanitation infrastructure and educate the populace about hygiene practices.
In light of this, the ongoing efforts by the Private Sector Health Alliance of Nigeria (PSHAN) to revitalise primary healthcare centres across Nigeria’s 774 Local Government Areas (LGAs) have become increasingly crucial.
PSHAN, a leading private sector platform for health in Nigeria, is playing a significant role in strengthening primary healthcare infrastructure, which lays the groundwork for better disease prevention, early detection, and effective response to outbreaks.
With robust primary healthcare systems
in place, communities are better equipped to handle outbreaks through Early Detection and Treatment: Effective primary healthcare allows for the swift identification of cholera cases, enabling prompt treatment and reducing the risk of severe dehydration and death; Community Education and Engagement: Primary healthcare centres can serve as hubs for disseminating vital information on hygiene practices, safe water use, the importance of seeking medical care early, etc., to locals, which can significantly reduce the spread of cholera; and Preventive Measures: Strong primary healthcare systems support vaccination campaigns and other preventive measures, such as distributing water purification tablets and promoting good sanitation practices. General preventive measures include access to clean water, proper sanitation facilities, handwashing with soap, safe food preparation, proper waste disposal, and vaccination.
As the country battles the current cholera outbreak, the importance of organisations like the Private Sector Health Alliance of Nigeria (PSHAN) in strengthening primary healthcare cannot be overstated.
Through the Adopt-a-Healthcare Facility Programme (ADHFP), PSHAN is committed to pooling private sector expertise, resources and funds revitalise and expand Primary Healthcare Centres (PHCs) throughout Nigeria, making world-class healthcare accessible to every Nigerian.
ADHFP aims to establish PHCs across Nigeria’s 774 Local Government Areas, implementing market-based reforms to provide affordable, quality healthcare to the poor and vulnerable. This initiative will ensure better health outcomes for all Nigerians.
Driven by the conviction that Africa will continue to bear the burden of high disease mortality unless we address the poor state of primary healthcare centres, ADHFP is a crucial step towards improving foundational health services.
PSHAN believes that the future of Nigeria’s health depends on our collective commitment to enhancing these services, noting that “Together, we can significantly impact the fight against cholera and strengthen primary healthcare in Nigeria”.
First City Monument Bank (FCMB) and its implementation partner, the Tulsi Chanrai Foundation (TCF), are marking a significant milestone: 15 years of the Priceless Gift of Sight programme, which has provided free eye care to over 400,000 Nigerians.
“The intervention by First City Monument Bank and the Tulsi Chanrai Foundation is laudable,” said Reverend (Mrs.) Eyoanwan Bassey Otu, wife of the Cross River State Governor.
“Both organizations have demonstrated a genuine concern
The programme, highlighted by a recent outreach event in Calabar, Cross River State, provides testing, optical services, surgeries, and disease management to combat preventable blindness.
for humanity. We are pleased that thousands of people across Nigeria, including many from Cross River and the neighboring States, suffering from one form of eye defect or another, can now go back to their normal lives and pursue their aspirations.”
“Our collaboration with the Tulsi Chanrai Foundation has been instrumental in delivering critical eye
care services,” said Mr Diran Olojo, FCMB’s Group Head of Corporate Affairs. He emphasized the initiative’s alignment with FCMB’s broader commitment to social sustainability and equal opportunity for all.
Beneficiaries have also expressed their gratitude.
“I haven’t seen properly in six years,” said Thomas Olekama, who travelled from Lagos for the free surgery. “I thank God, FCMB, and the
The Priceless Gift of Sight addresses a critical need, as 90% of blind people globally live in poverty-stricken areas. “Blindness often leads to loss of income, social isolation, and limited access to information,” Olojo stated. “This initiative is crucial in breaking the cycle of poverty and blindness.”
Foundation for allowing me to see again.”
First City Monument Bank, a part of the FCMB Group, is committed to making life better and empowering communities where it operates. The Priceless Gift of Sight programme shows how serious the Bank is about helping people and positively impacting the lives of Nigerians.
In a commendable effort to promote family planning and emphasize the benefits of contraceptive methods and reproductive health services for the community, a two-day family planning outreach event was successfully organized by DKT Nigeria in collaboration with the Sokoto State Ministry of Health. These events which were held to honour the legacy of DKT International Founder, Phil Harvey, took place at Maryam Abacha Hospital and Offa Road
respectively, drawing significant participation and support from the community and dignitaries within the state recently.
The outreach program, which aimed at improving the well-being of women and their families, offered a range of contraceptive methods at no cost.
During the two days of the outreach, over 700 men and women had access to family planning products such as IUDs, Implants and condoms as well as comprehensive health talks
and vital checks conducted by experienced nurses.
These sessions provided essential information on various contraceptive methods; the importance of family planning; child spacing and the positive impact these practices have on maternal health and overall family welfare and prosperity.
The event was marked by the presence of notable dignitaries from within Sokoto State such as the Sarkin Yaki Gagi (Malami Marafa), who gave a charge to the
women present about the benefits of embracing family planning.
Other dignitaries from the Sokoto Ministry of Health such as the Director Primary Healthcare Board (Dr Tukur Garba), Reproductive Health Coordinator, Family Planning Coordinator (Shafaatu Bello), State Team Lead Monitoring & Evaluation (Salamatu Muhammed) to mention a few, were in attendance and gave talks underscoring the importance and impact of family planning in the region.
The participation of local leaders and healthcare professionals highlighted the collaborative efforts in play within the state and is an indicator that the people in the state are willing to embrace family planning and improve contraceptive health.
This initiative reflects the enduring vision and mission of Phil Harvey, whose dedication to reproductive health and family planning has left an indelible mark globally. DKT Nigeria will continue to work with state
governments and their health ministries to provide family planning and contraceptives available and accessible to women in Nigeria.
DKT Nigeria is a leading provider of family planning services and products in Nigeria.
DKT Nigeria provides couples with effective, safe, affordable, and quality family planning options through innovative campaigns, outreaches, and collaborations with both governmental and non-governmental organizations.
Kayode Tokede
The Minister of Power, Mr. Adebayo Adelabu has hinted of the federal government readiness under to support CWG Plc and other local companies to bridge smart metering gap in the country.
Adelabu who stated this when he visited CWG in Lagos, said his visit was evidence that the federal government is ready to support CWG and other local industries.
He said, “We all know that we have a huge metering gap, and the government is determined to reduce this over time. I mentioned a couple of metering initiatives that we have all witnessed – the Meter Acquisition Fund, the Meter Acquisition Programme, the Mass Acquisition Programme, and lately, the Presidential Metering Initiative.
“So, we have a huge metering gap to fill. And the mandate of the PMI is to ensure that in the next five years, an annual acquisition of 2 million meters minimum must be carried out.”
He challenged local meter manufacturing companies to play a major role in reducing the importation of everything needed to close the metering gap.
He expressed that local industries are germane to the sustainability of the industry.
He added, “And beyond this, for the sustainability of the industry, provision of meters for future use and maintenance of already installed meters, we need the local industry. The government has vowed to support the industry for several reasons.
“The number one reason is to reduce the pressure on the foreign exchange requirements for importation. The second is for job creation. When you
add value here locally, you will employ our people and a lot of households will be provided for. For reasons of technology transfer, our people must be trained to be able to support the local industry. And lastly, the reason of human capacity development.”
Earlier, the Chief Operating Officer of CWG, Mr. Afolabi Sobande, appreciated the Minister for taking time to visit the company, expressing its readiness to partner with the government in tackling challenges in the power sector.
He said “CWG has established itself as a trailblazer in the smart metering industry, dedicated to addressing the substantial metering gap in Nigeria. The company’s cutting-edge technology not only enhances the accuracy of electricity billing but also promotes efficient energy consumption among consumers.”
Mills of Nigeria Plc (FMN), has announced a revenue of N763.2 billion for the first quarter ended June 30, 2024, a 67 per cent increase over N456.4 billion it achieved in the same period of last year.
The Group’s Gross Profit saw a 73 per cent increase to N86.9 billion and a 68 per cent growth in Operating Profit.
The profit for first quarter 2024/2025 stood at N7.4 billion, reversing the first quarter loss in last year and returning to the first quarter profit levels of two and three years ago.
Operating profit rose by 68 per cent to N49.9 bil-
lion, supported by revenue growth and continuous cost optimisation.
Commenting on the first quarter 2024/2025 results, Group Managing Director/ Chief Executive Officer of FMN, said, Boye Olusanya, “Our Q1’24/25 results demonstrate FMN’s ability to deliver solid performance despite significant headwinds. We’ve shown remarkable agility in navigating the challenging macroeconomic environment, including persistent inflation and exchange rate volatilities. Our focus on cost optimization, strategic pricing, and operational efficiencies has enabled us to maintain our
market leadership in the Food and Agro-Allied sector.”
Speaking on the Group’s financial position, Group Chief Finance Officer, Anders Kristiansson, said: “Our Q1’24/25 results reflect our commitment to creating value for our shareholders. The significant strengthening of our profitability, coupled with our strong cash position, provides us with the flexibility to invest in growth opportunities and navigate economic uncertainties. We remain focused on optimizing our capital structure and reducing funding costs to improve profitability and deliver long-term value.”
Pinnacle Awards for Finance, ICT and Real Estate (PAFIR), has announced the commencement of shortlisting of its winners of 2024 Awards for excellence, innovation and exemplary leadership in the Nigerian Finance, Information and Communication Technology (ICT) and Real Estate Sectors, in a strategic move to identify the leaders amongst equals.
PAFIR, in a statement on its website, has invited nominations, which entails the provision of comprehensive details and contributions of companies and individuals that have demonstrated exceptional
performance and innovation in the three sectors.
The statement assures the public that the entire process shall be transparent and fair to all entrants. “Our panel of industry experts and judges will meticulously review all submissions, based on predefined criteria such as innovation, impact, and leadership.
In the ICT Sector, winners shall emerge for ICT Innovator of the Year, Best ICT Infrastructure Provider, Outstanding Cybersecurity Solution, Top ICT Service Provider and Rising Star in ICT. There shall also be awards for Innovative Real
Estate Project of the Year, Real Estate Developer of the Year, Sustainable Real Estate Initiative, Best Commercial Real Estate Firm and the Rising Star in Real Estate.
“PAFIR Awards is an annual event, where we celebrate outstanding achievements and contributions in the finance, ICT and Real Estate Sectors. The Ceremony Is a testament to the excellence and innovation that drive the sectors forward.” said Roni Akins, Chief Executive Officer of RAEMCOD Global Group Limited and organiser of PAFIR Awards.
Michael Olugbode in Abuja
The hope of increased yield, proper food production coordination, and sharing of experience among regional actors in the field of Agriculture brightens as the AGRHYMET Regional Centre in collaboration with Partners and the Federal Ministry of Agriculture and Food Security, has organized a 5- day workshop for experts from English-Speaking Countries on the SARRA-H&O Model, in Abuja, Nigeria Capital.
Speaking at the workshop’s opening, the representative of AGRHYMET, Marshall Trawere, said the training was the fourth annual capacity-building programme strategically organized
to improve Countries’ monitoring of the Agricultural campaign. He said: “This workshop brings together 5 countries including Gambia, Liberia, Nigeria, and Sierra Leone which are English–speaking countries. As you know, Sahelian Countries have been facing since 1973, an accelerated degradation of the environment and natural resources under the cumulative effects of recurrent drought desertification and human activities. This situation has led to a considerable reduction in productive potential, thus exposing the population to a precarious food situation.”
Speaking, Mr. Amu Anthony from the Department of National
Programme on Food Security highlighted various efforts and strategic initiatives of the present administration in Nigeria aimed at ensuring national food security and called for concerted efforts in the use of modern tools and synergy among stakeholders.
In the same vein, the Director General and Chief Executive Officer of the Nigerian Meteorological Agency (NIMET), Prof. Charles Anosike who was represented by Dr. James Adamu, emphasized the importance of the workshop and urged participants to take advantage of the skill that will be provided at the training to improve food security in their various Countries and Agencies.
The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference Basket of
Kayode Tokede
The earnings of Ecobank Transnational Incorporated (ETI), a pan-African banking group, rose to the highest in at least nine years of N311 billion in the first half of 2024, about 196 per cent growth from N105billion reported in the same period of 2023.
According to the company’s latest financial statement released on Nigerian Exchange Limited
(NGX)., the group’s gross earnings stood at N1.78 trillion in H1 2024, a growth of 179 per cent.
CEO of Ecobank Group, Jeremy Awori in a statement said: “Our half-year results demonstrate the strength of our diversified business model. Despite facing macroeconomic challenges in some of our operating markets, the company increased its net revenues to $994 million and its profit before tax by five per cent
to $324 million.
“Excluding the impact of foreign currency translation due to US dollar strength, the profit before tax increased by 23per cent. The return on tangible shareholder’s equity (ROTE) was 34.7per cent, compared to 27per cent in the previous year.”
“Our results also highlighted the significant progress made in our GTR strategy, with double-digit revenue growth
in constant currency across all our businesses – 14per cent, 23per cent, and 25 per cent in Corporate and Investment Banking, Commercial Banking and Consumer Banking, respectively. We gained share in trade services and observed increased client activity in wholesale payments and cards,” Awori continued.
“Our transformation agenda remains our top priority, with a focus on improving customer experience and driving ef-
ficiency and productivity. Despite persistent inflation, we achieved an efficiency ratio of 53.6per cent. We continue to right-size our risk-weighted assets, and our deposits franchise remains strong. Customer deposits rose 13per cent in constant currency to $19 billion, with current and savings accounts (CASA) comprising 81per cent of total deposits. With a loans-to-deposit ratio of 54per cent, we have room to take advantage of credit opportuni-
ties that meet our risk appetite if required,” Awori continued. “In conclusion, we have confidence in the company’s long-term prospects. While near-term monetary and fiscal challenges persist, our sole focus remains enhancing the customer experience and meeting their financial needs. I extend my heartfelt thanks to our fellow Ecobankers for their hard work and dedication in delivering these results,” Awori added.
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange.
A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 30July-2024, unless otherwise stated.
Governor of Lagos State, Mr. Babajide Sanwo-Olu addressing Lagosians on the planned nationwide protest, with him from left, his Special Advisers, Mr. Gboyega Akosile (Media and Publicity);
Babatunde (E-GIS & urban Development); Prof. Akin Abayomi (Commissioner for Health); Deputy Governor, Dr. Obafemi Hamzat; Barr. Abimbola Sali-Hundeyin (SSG); Mr. Tayo Ayinde (Chief of
and Mr. Gbenga Omotoso (Commissioner for Information and Strategy) during a media briefing at Lagos House, Ikeja ... yesterday
NorTH er N e l D er S B Ack ProT e STS , N’DelTA oPTS o u T, c ourTS r e ST r I cT ProT e ST er S IN F cT, lAgo S , o gu N
including Hajia Najatu Muhammad, Mallam Salihu Lukman and Dr. Umar Ardo, also tabled seven demands to the government of President Tinubu.
They stated that Nigeria had long been facing unprecedented challenges of insecurity, excruciating poverty, illiteracy, unemployment, diseases, high cost of living, all on account of bad governance and corruption in public offices.
“We acknowledge that the primary purpose of any government is to secure life and property, and enhance the welfare of its citizens. Any regime that cannot guarantee these basic rights loses all legal and moral authority of being in power, and would naturally incur the wrath of citizens. It can therefore only remain in office more by default than by public consent.
“This seems to be the state our dear country, Nigeria, is drifting towards. Over the years, successive governments at all levels, including the incumbent ones, fell short of delivering the requisite leadership.
“Consequently, Nigerians have been thrown into a state of social dislocation that has plunged citizens, especially the youths, into disillusionment, disappointment, frustration and hopelessness.
“To press home their legitimate demands concerning the cost of living crisis, insecurity and the worrisome drift in the ship of state, Nigerian youths have resolved to go on a 10 day nationwide protest from the 1st to 10th August, 2024. We therefore wrote this special text to state our position concerning this resolve to protest and the attitude of the government to it.
“First, we want to affirm the constitutionally protected right of all citizens to assemble and to protest. We also acknowledge that the cause for protest against the system is valid and justifiable. We wish to state clearly that we firmly stand by our youths in their resolve to exercise their right to protest.
“Second, we call on the federal government to be pragmatic in its approach to the resolution of the crisis if it hopes to amicably resolve and mitigate the risks associated with mass“Toprotests.” this end we recommend that the government immediately takes the following steps: Engage in dialogue: Identify and directly engage with the youth leaders and protesters to understand and address their grievances.
“Outsourcing this responsibility to others, such as traditional, religious, labour, civil society leaders is not going to work. The use of state forces to intimidate, cajole and harass protesters can only further escalate an already volatile situation.
“We have recently seen that in the EndSARS protests. Engagement remains the best and most effective solution. Implement reforms: Sincerely address the demands of the protesters by implementing meaningful reforms, demonstrating goodwill and a commitment to change;
“Support youth empowerment: Invest in youth development programs, education, innovation, entrepreneurship initiatives. Enhance economic development: Implement policies that would enhance general economic development of the country;
“Improve governance: Enhance transparency, accountability, and inclusivity in governance against personalised leadership, tackling corruption and ensuring equal opportunities for all citizens.
“Ensure security: Ensure that the state security forces respect the rights of protesters by allowing them access for peaceful assembly without interference, intimidation or harassment and protect them against any harm;
“Lead by example: The government and its leadership should lead by example, demonstrating sacrifice, integrity, accountability and transparency so as to inspire trust and confidence.
“Having been in the trenches himself leading several protests, from the NADECO days to 2014, President Tinubu knows more than others the value of protest.
“To the protesting youths, we want to assure you that we understand and support your decision to exercise your constitutional right to peaceful protests in demanding good governance and accountability from your leaders.
“We believe that this is a legitimate and necessary step towards reclaiming your future and ensuring a better Nigeria for us all.
“As elders, while we stand shoulder to shoulder with you on this, we urge you to remain peaceful and law-abiding during these protests, avoiding any actions that may be misconstrued as violent, harmful, destructive, offensive or threatening to public peace.
“We also call on you to engage in dialogue if the government extends a hand of fellowship to you in addressing the root causes of your discontent and grievances.”
They stressed that by taking these measures, the government can address the underlying issues driving the protests, reduce tensions, create a more stable and prosperous future and avoid disruption and chaos.
Curiously, some five socio-political groups in the 19 Northern states, have accepted the federal government's offer of dialogue as a way to find solution to the nations problems.
The groups, therefore, forwarded a letter in this regard to Tinubu through the Minister of Information Alhaji Mohammed Idris Malagi.
Spokesman of the groups and former Niger State Public Relations Officer of the People's Democratic Party PDP, Alhaji Mohammed Yahaya disclosed this at a press conference jointly addressed by the leadership of the groups in Minna.
"In view of the above and repeated Government calls for dialogue especially through traditional Rulers and through the Honorable Minister of Information and National Orientation, Alhaji Mohammed Idris, who has shown maturity and mutual respect to all sides: FGN and the Public.
“We in the above named groups do accept the Government’s offer of dialogue. We, therefore, call all our members in the 19 Northern states of Nigeria and across the Nation to stand down our intended participation in the Protest."
But on their part, the Niger Delta stated that, “We of Niger Delta are bracing up for the impending nationwide protest but in opposition to it. Why? First, none of the 10 demands put forward by the protesters covers substantial interests of the Niger Delta region. Not even the matter of the East-West Highway uncompleted in 18 years.
“Secondly, all the self-determination struggles that the Niger Delta has waged in 20 years did not receive support from other regions - namely, (1) Ogoni ethnic cleansing (1994-1995), (2) Kaiama
Resource Control Declaration of 1998 (3) the fight for the setting up of the NDDC (2000) (4) Odi massacre and demolition (1999)(5) the 1998 Jesse (Sapele) burst oil pipeline fire that killed over 1000 persons (6) Niger Delta demand for minimum of 25% derivation clause at the 2005 National Reforms Confab(7) military invasion and bombardment of Gbaramatu Ijaw Kingdom (2009),(8) Military suppression of Movement for the Emancipation of the Niger Delta (MEND) 2004-2009, (9) recent military attack, killings and demolition of the Urhobo Community of Okuama (2024).
“In all these cases, the Southwest and North never supported the Niger Delta. It is also reasoned by the Niger Delta that, the Tinubu government, regardless of its wrong-headed and poverty-inducing policies, is likely to favour Niger Delta more than those of previous administrations. Therefore, we of the Niger Delta are to ‘sit down look’ this time around.
These were the resolutions made at a stakeholders' meeting of representatives of Niger Delta Ethnic Groups, Women and Youth organised by the NDDC in Port Harcourt on Tuesday, July 30, 2024.
Speaking on behalf of the stakeholders at the meeting, the National Secretary of First Phase Ex-agitators, Mr Nature Kieghe, said though protest was the right of the people, any of such event with the motive of destabilising the country to bring about anarchy should be resisted by the citizens.
In another breath, Delta Youths under the Augie's of Delta Concerned Youth's have announced their withdrawal from today's planned protest against bad governance and hunger ravaging the country.
Addressing journalists in Warri, the group’s Director General, Kelvin Ejimudo, who was accompanied by other members, said the protest could not solve the problems confronting the country.
Although he admitted that times are hard in the country, Ejimudo urged all Nigerians to support the government to succeed.
Similarly, some Yoruba leaders have continued to declared total opposition to the protest, begging the youths to avoid the repeat of the attendant effect of the ENDSARs protest in the country.
Leaders of the group under the aegis of Yoruba Leaders of Thought, said though Nigerians have inalienable constitutional rights to demonstrate, embarking on protest would not solve the hungers in the country.
Addressing journalist in Ado-Ekiti, the National Leader, Elder Tajudeen Olusi, said Tinubu and the state governors were aware of the economic hardship and bold steps were being taken to salvage the situation.
The elder statesman represented by the National Secretary, Bayo Aina, appealed to Nigerians, most especially the people of the Southwest to shun the protest as it was a ploy by disgruntled elements to destabilise Bola Tinubu's administration for personal gains.
But the Corporate Accountability and Public Participation Africa (CAPPA), has appealed to Tinubu to address citizens in a broadcast and engage their legitimate grievances, calm frayed nerves, and break the icy tension that has formed across parts of the country.
The organisation also urged the President to affirm his administration’s commitment to protecting the rights of citizens by compelling all government
machinery and authorities to safeguard the lives and well-being of every citizen under their watch.
Robert Egbe, Media and Communication Officer, Corporate Accountability and Public Participation Africa (CAPPA), in a statement, urged the police and security agencies to fulfil their obligations as enshrined in the 1999 Constitution of the Federal Republic of Nigeria (As Amended) by ensuring that the right of citizens to peacefully assemble is upheld without interference.
However, one of the groups behind the protests, known as Enough Is Enough (EIE), said the protest would begin today nationwide.
Executive Director of EIE, Yemi Adamolekun, who spoke yesterday on ARISE NEWS Channel, noted that the demands were crafted based on public opinion polls conducted on social media.
She said Nigerians have dismissed the proposal put forth by Inspector General of Police (IG) Kayode Egbetokun, sparking significant discourse among Nigerian citizens and legal experts.
A legal practitioner, Ewa Okpo, who also spoke on ARISE NEWS yesterday, and pointed out that, under Section 83 of the Police Act 2022, the police were mandated to protect the rights of citizens to protest. Okpo emphasised that the law did not require protesters to inform the police of their plans but mandated the police to provide security when informed.
But a lawyer and APC chieftain, Jesutega Onokpasa,acknowledged the legitimacy of the protests but expressed concern over potential hijacking by hoodlums and political opportunists.
In the same stroke, the Womanifesto, a body of over 300 women rights activists, advocates and organisations, has enlisted for the protest.
A statement by Womanifesto's Convener, Dr Abiola Akiyode-Afolabi, stated that the group "declares that it will join the #ENDBADGOVERNANCE protest in Nigeria to demand for accountability and good governance devoid of harassment and intimidation."
Akiyode-Afolabi said as working professionals, thought leaders, human rights advocates and mothers, they identifiedwith the suffering of Nigerians fueled by high inflation, low purchasing power, high cost of electricity and fuel as well as wasteful spending by governments at federal, state and local government levels.
The group noted that attempts to minimise the pains of Nigerians and their desire and right to display grievances through protests would be resisted by Womanifesto.
Although it is not yet determined if the protests would go on for the proposed 10 days, indications of what is likely to be are beginning to manifest from state to state.
Below are the happenings in some of the states and the federal capital, preparatory to the protests, indicating what to expect.
In Abuja, the Federal Capital Territory, Justice Sylvanus Oriji of a High Court, has ordered the #Endbadgovernance and hunger protesters to restrict their planned protest to the Moshood Abiola Stadium, Abuja.
Oriji issued the order while delivering ruling in an ex-parte application brought before him by the Minister of the FCT,
Mr Nyesom Wike.
The judge predicated his decision on the need to protect other citizens in the nation's capital as well as prevent the breakdown of law and order.
In the exparte application argued by Chief Ogwu James Onoja (SAN) the FCT minister applied for an order of interim injunction restraining the five leaders of the protesting groups from gathering or parading themselves along any roadway, street, offices and public premises within the FCT between August 1 and August 10, or any other day thereafter, pending the hearing and determination of the motion on notice.
In his ruling, Oriji, who recognised the rights of the protesters to embark on the exercise, however restricted them to the stadium in view of the fears expressed by the minister.
But the wife of the President, Senator Oluremi Tinubu, appealed to Nigerians to shelve the planned protests, with an assurance that the present government has been working day and night to get the country back on its feet.
She made the plea when she met with governors' wives in the State House, Abuja to outline Renewed Hope Initiative's upcoming activities and collaborations with relevant Ministries, Departments and Agencies (MDAs).
“I will appeal to them to be patient. We didn't come here playing. We came here to work because for one, I know we will leave this place one day and I want to go into a Nigeria that will not be a burden to me.
“I'll be much older and I want to make sure that I take my rest in a very conducive and nice atmosphere. And that's what we're doing. If they're trying to be disruptive, then it’s left between them and the law,” she said.
Secretary to the Government of the Federation (SGF), George Akume, has also pleaded with Nigerians of whatever persuasion, belief, demography, gender and status to prioritise peace and progress and shun calls for protest against hunger and not to destroy the country because of any faceless group.
He made the appeal yesterday at a conference called by the federal government, urging the protagonists of the nationwide protest against hardship to call off the protest.
In his remarks, titled: "Peace and Stability: the bedrock of our economic recovery and driver for good governance", he expressed government’s concern about the dangers associated with protests that were vulnerable to being hijacked by bandits, insurgents and other criminals.
"Our appeal is that Nigerians should please pursue the path of peace, dialogue and collaboration in addressing the challenges that collectively confront us. Please go about your legitimate businesses and avoid actions and/or association that are capable of disturbing the peace of the country. Remain vigilant as well," Akume said.
At the same time, the Senate at an emergency plenary, and after about two hours of closed door session, passed a resolution urging planners of the protest to jettison the idea.
The Red Chamber maintained that one year was too short a time to assess the performance of President Bola Tinubu's government . President of the Senate, Godswill Akpabio, after the adoption of the resolution, said, "On the protest slated for tomorrow (today), August 1, 2024, the Senate kindly urge the planners to
shelve their plans because one year is not long enough for the policies being implemented by the current administration of President Bola Tinubu to yield the desired results.
"The Senate urges the protesters to give the government more time to address their demands, considering the measures being put in place to ameliorate the situation in the country.”
Speaker of the House of Representatives, Hon. Tajudeen Abbas, assured the youths, especially the organisers of the that the government would not intimidate, entice, buy off, or stifle their constitutionally enshrined powers of free expression.
He said, rather, they would create a formal avenue of regular engagement, ensuring that their voices are heard at the highest levels of government. Abbas, who disclosed this yesterday in Abuja at a townhall meeting with carefully selected youth groups and organisations, told the youths that expressing grievances or calling for protest was only the first step in the dialogue chain.
This, nonetheless, the Minister of the FCT, Nyesom Wike, has stated that approval had not been given for the use the Eagle Square to organisers of the nationwide protests against hardships.
His clarification while fielding questions from reporters during an inspection of a road connecting two communities in Abaji Area Council, prompted heightened security at the facility.
"I never approved the use of Eagle Square for anybody, which likely informed the security measures to ensure all public areas are well-protected. We will not allow hoodlums to take advantage and begin to vandalise our infrastructure.
"We don't want to take anything for granted; we want to make sure that security is tight and intact," Wike said. But in anticipation of the commencement of the protests, the Nigeria Army, Navy, Nigeria Civil Defence Corp and the Mobile Police Officers, yesterday, took to the streets of Abuja. The patrol was generally seen as show of strength to intimidate the organisers of the national protests.
Aside from securing a court order restricting movements in Lagos, Governor Babajide Sanwo-Olu yesterday called on those planning protest in the state to shelve their plans and embrace dialogue. In a 20-minute address at the Governor's Office in Alausa, Sanwo-Olu said there was no need for the protest, stressing that so much was being done by the government across sectors to alleviate the pains of the citizens and set the country on the path of sustainable prosperity.
The governor said although peaceful protests remained fundamental rights protected by the constitution to air their grievances, he, however, sent a strong warning to elements with sinister tendencies who might want to exploit the demonstration to execute their own plans.
Sanwo-Olu queried the need for anyone to protest and the outcome to come from shutting down the economy against the backdrop of various efforts and interventions the Government had made.
Dr Alim Abubakre, Founder, TEXEM, UK and Mrs Yetunde Ilori, President of CIIN, during her investiture ceremony as President of CIIN in Lagos...recently NorTH er N e l
“It is pertinent to ask if the protest is a catalyst for progress the nation requires at this time? Will such a protest suddenly ensure that all of our challenges disappear in 10 days? Will the protest suddenly ensure the prices of food stuff drop by the 11th day?
“Will shutting down the economy for 10 days inspire economic growth we earnestly desire? I hold the strong view that a protest at this time will do none of these things for us as a nation. Rather, it would roll back the modest gains that we have made in various facets of our socio-economic life as a people.”
Also, in Lagos, the Archbishop of Lagos Diocese, His Grace, Alfred Adewale Martins, has cautioned protesters to ensure that the nationwide protests were not hijacked by impostors and infiltrators that might have ulterior motives.
The Archbishop, however, called on the federal government to allow the protesters to exercise their fundamental human rights and to take the protests as feedbacks from the citizens they govern.
At the same time, the Arewa Community and Traders in Lagos State, have dissociated their people from the planned hunger protest, alleging that fifth columnists, politicians and those who wanted to set Nigeria, especially Lagos on fire, were behind the protests for selfish interests.
Speaking at a press conference at Airport Hotel, Lagos, the leader of the community, Alhaji Shehu Usman, argued that Lagos State, was the target of the planned protest and his people would not allow the home state of Tinubu be set ablaze.
Nevertheless, security operatives have mobilised heavily to Lagos in readiness for the protests, even as there was reported bomb discovery in Ikeja, yesterday.
Edo
In Edo State, Governor Godwin Obaseki, who empathised with Nigerians over the current hardship and difficulties that they have had to endure, urged the organisers of the protest to consider adopting other forms of protests outside marching and processions on the streets.
The governor, who reassured the people that the state government had mobilised security agencies to be on high alert and ensure that law and order was maintained and provided, disclosed that some people within the political space were plotting to use the excuse of the protest to cause disruptions and also destroy public infrastructure.
“Our intelligence reveals that plans have been perfected to infiltrate the planned protest matches to cause wanton destruction of lives and property. Armed thugs and some cult groups have been procured and mobilised to attack and burn public buildings and offices, including the Secretariat Complex in Benin City and several newly renovated schools and healthcare centres in several parts of the state.
“Their motive is to settle political scores ahead of the September 2024 gubernatorial elections. We have taken this intelligence very seriously in the light of the massive mobilisation of thugs
on the July 18, 2024 in Benin airport and the rampant shooting which led to the death of a police officer.
“This protest is obviously the result of the difficult living conditions which Nigerians have had to endure particularly over the last one year, arising from various policies that have been implemented by the federal government,” he said.
The Minister of Niger Delta Development, Abubakar Momoh, on his part, declared that Tinubu's footprint in the Niger Delta region would discourage the youths from the area from joining any national protest.
He also submitted that nobody including the president would say protest was a sin, but the consequences of the action might not be good for economic development.
Speaking to newsmen on the protest, Momoh stressed that the intervention of President Tinubu in the provision of infrastructure across the nation and especially in Niger Delta region has been unprecedented.
Enugu
There has been lingering perception in Enugu State over the ulterior motive of the sponsors of the protest in the state. The latest, however, coming from the state chapter of the Peoples Democratic Party (PDP), claimed it had uncovered sinister plots by the leadership of the APC in the state and the Labour Party (LP), to hide under the cover of the protest to sponsor instability in the state.
In a statement by the state chairman of the PDP, Hon. Augustine Nnamani, he said the federal government and security agencies should hold the leaderships of the two parties in the state responsible for any breach of peace “in the name of protest” in the state.
The statement stated: “The PDP is in possession of an impeccable intelligence revealing a sinister plot by the leaderships of the LP in Enugu State, and their newfound allies in the Enugu LP to cause instability in the state under the cover of the nationwide protests.
“The intelligence shows that these opposition leaders have been seriously worried about the soaring popularity of the Governor Peter Mbah Administration occasioned by his evident development and infrastructural strides in the last 14 months. They see the nationwide protest as an opportunity to set the state back and get back at the governor for the 2023 losses.
Bayelsa
Perhaps, ready for the worst, the Bayelsa State Governor, Senator Douye Diri, has directed that there would be no public holiday in the state as all government offices, markets and businesses would open for normal daily activities.
The governor, who spoke when the Minister of State for Petroleum, Heineken Lokpobiri led a delegation on a courtesy visit to the Government House, Yenagoa, advised the people not to join the protest, given that it was being orchestrated by failed politicians in the state.
He acknowledged the rights of the people to protest in a democracy, but
however stressed that there must be a good reason, which he argued could be resolved through dialogue.
He said his administration deployed dialogue from the beginning and because of his performance, the people re-elected for another term. He, therefore, called on Bayelsans to come to the roundtable to resolve any grievance against government’s policies.
The minister, in his remarks, commended Diri, for his leadership qualities and good working relationship with the government at the centre despite being in opposition.
Lokpobiri said he was in the state on the directive of Tinubu for his appointees to join forces with governors to ensure the protest did not get violent.
Also, the Niger Delta ethnic nationalities, including the Ijaws Youths Congress (IYC), the Ijaw National Congress (INC) and their counterparts from the Itsekiri nation and other ethnic groups, declared no protest in the core-states of the Niger Delta.
At an enlarged meeting presided over by Lokpobiri and the INC President, Prof. Benjamin Okaba, they all unanimously agreed that the protest was in their best interest as they were carried along in the planning.
At the same time, the Niger Delta youths under the auspices of Revamp Niger Delta Now Movement (RNDNM) have withdrawn from the planned hardship protest scheduled for tomorrow
Similarly, Bayelsa State APC Chairman, Dennis Otiotio, has called on members and the Bayelsa people, to shun the protest and warned that any of its members found protesting will be sanctioned by the party.
In the same vein, students bodies in Bayelsa State all have withdrawn from the nationwide protest against hardship and hunger in the country, citing the plans by unpatriotic individuals to hijack the protest.
The Ebonyi State Governor, Francis Nwifuru, urged residents of the state to boycott the protest. Speaking at an interactive session at the Christian Ecumenical Centre, Abakaliki, Nwifuru noted that he was aware of the hunger and bad governance but urged Nigerians to be patient with Tinubu.
The governor warned the people against protests as it often led to unintended consequences, including violence, destruction of property, and disruption of essential services.
"I am aware of the planned protest against hunger and bad governance scheduled to take place across the country including Ebonyi State. While I understand the reasons and concerns that have led to this call to action, I strongly urge you all to refrain from participating in this protest,” he said.
Rivers
Rivers has consistently maintained its opposition to the protest and this position the governor, Sim Fubara, has advanced several times.
It was no wonder again yesterday that a former federal lawmaker, Senator Magnus Abe, said it would be most
unfair to blame the nation's collective woes on the actions of one government that was barely two years in office.
Abe, in a statement, expressed doubts that the protest would be peaceful, and added that it would disrupt economic activities and make a difficult situation, even for hard working Nigerians who are already suffering so much.
He said the proposed protest was totally unacceptable and unhelpful, stating that he had seen a lot of hate speech against the Tinubu government circulating online to justify the planned protest.
In Gombe, many groups and individuals were strongly against the protest, warning it could be disruptive and turn violent. But the Association of Non-Governmental Organizations (ANGO), in the state yesterday, called for social justice and civic responsibility in the face of protests against bad governance.
ANGO Secretary, Bachama Yusuf, flanked by Chairman Idris Maigari Lawanti and Deputy Chairman Gloria Usman, emphasised the need for robust dialogue between the government and citizens to address widespread hunger, hardship, and insecurity.
While acknowledging steps taken by the federal government, ANGO stressed that Nigerians were still waiting for tangible actions to alleviate their suffering.
Kaduna
In Kaduna , the police command deployed over 25,000 security personnel to strategic flashpoints in the state to ensure law and order during the protest.
Spokesperson of the command, Mansir Hassan, who disclosed this in a statement, said the security personnel included the police, the armed forces and personnel of other security agencies. According to him, the massive security deployment to flashpoints, “is to ensure strict compliance to public order.”
Just like in Lagos, the Ogun state government was also able to secure a High Court order instructing sponsors of the protests to limit their activities to four locations in the state. The court also restricted the time frame of the protests to between 8 am and 5 pm.
Granting an application moved by the State's Attorney-General and Commissioner for Justice, Oluwasina Ogungbade (SAN), Justice O. Ogunfowora, directed that all protests under the #EndBadGovernanceInNigeria slogan or any other slogan from August 1 2024 to 10 August 2024 must be limited in place and time.
The judge prohibited the protesters from protesting anywhere in the state except at the MKO Stadium, Abeokuta; Ansar-ud-Deen Comprehensive High School, Ota; Remo Divisional High School, Sagamu; and Dipo Dina Stadium, Ijebu-Ode.
Kano
In Kano, residents continued to troop to commodity markets to stock up food
items, in readiness for the protest. The resolution by the market leaders to close shops prompted the rush to stock up on essential items, despite financial challenges, ranging from the exorbitant prices and scarcity of foods in the state.
But Governor Abba Yusuf acknowledged the constitutional right of Nigerians to conduct peaceful protests in the state. The governor appealed to the organisers and participants to ensure that the protest remains peaceful and devoid of all forms violence or destruction of property.
Yusuf, who spoke at a stakeholders’ meeting at Government House lamented the hardship being experienced by Nigerians. He said Nigerians have constitutional right to conduct peaceful protest but, appealed to the organisers to shun all forms of provocation during the protest.
"By doing so, we can guarantee a safe and successful protest that conveys the message without causing harm to anyone or anything. Let's work together to exercise our rights responsibly," he said.
Ondo
All appears set for the protest to commence in Ondo. Already, security agencies in the state have assured that they've heightened security presence at flashpoints across the state to tackle any potential security threats from the planned nationwide hardship protest.
Personnel of the agencies comprising the Nigeria Police Force, Nigeria Security and Civil Defence Corps (NSCDC), the Nigerian Army, the National Drug Law Enforcement Agency (NDLEA), Department of State Services (DSS), Nigerian Correctional Service (NCos), Federal Road Safety Corps (FRSC), Nigeria Immigration Service (NIS) and the South West Security Network codename Amotekun were armed to the teeth.
The exercise, which began from the Police Command headquarters, Igbatoro road, Akure took the security personnel to through Oba-Adesida, Oyemekun, Arakale and other routes.
Speaking with journalists after the exercise, the Commissioner of Police, Abayomi Oladipo, said well-equipped and armed personnel from all security agencies had been deployed to handle any unforeseen circumstances around the identified flashpoints.
"We are on the frontline and I want to let you know that protest is a fundamental human right in any democracy and no responsible government would want to take away such right as guaranteed in section 40 of 1999 constitution as amended.
"However, other Nigerians that are not interested in being part of the protest have their rights as well to freedom of movement. So, the two rights must be respected,” he said.
In Cross River State, the feelers were that the protest will hold although those against the protest, such as the All Progressives Congress (APC) had stated that they obtained clearance to hold peaceful processions to show their solidarity with the government.
Taraba
In Taraba State, the Governor, Kefas Agbu, and other stakeholders held several meetings with youths and women against the planned nationwide protest. The governor pleaded with all the youths not to protest tomorrow (today) with promises of engaging the youth in his administration.
He stressed that protests will slow down the development of the state.
The Police also advised that any youth that has any plans to protest should send a message to enable the security agencies plan well for any unforeseen circumstances.
As for the situation report in Benue, it was still that of uncertainty at the time of going to press. Several notable youth groups in the state held press conferences distancing themselves from the planned August 1 protest. Security agencies in the state conducted a joint show of force, with armed personnel patrolling major streets in Makurdi, the state capital. The Director General of the Bureau for Homeland Security also addressed the press, warning citizens not to participate, as the state security council has credible information that the protest could be hijacked. Given these developments, it was unclear whether the protest will take place in the state.
In Katsina State, it was a mixed reaction as within the civil society organisations, there are those who are for or against the protest.
The Coalition of Northern Groups has drafted a three day event for the protest, while the Coalition of Civil Society Organisations in Katsina State is expected to have a Dialogue with the the Acting Governor Faruk Jobe.
Imo
In Imo State, some people have lost their lives and others injured as gunmen took over the streets of the capital. There was panic in Owerri following the sporadic shooting. The streets of Owerri were empty with no vehicular movement as residents resorted to shelter in their homes.
However the Imo State Government enjoined the people not to join the protest.
As of yesterday, the atmosphere in Maiduguri, the capital of Borno State, remained calm, as there were no groups or organisations actively promoting or advocating for protests.
The state government and security agencies had been dissuading protests, citing concerns that Borno State was still recovering from a decade-long insurgency and that any large-scale demonstrations could potentially disrupt the fragile peace currently being enjoyed in the state.
Plateau
The mood in plateau was that of
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Anigwe, at the National Corporate Governance Summit in Lagos ... recently
Public Relations and
First lady says she left indelible mark in music Jonathan, Sanwo-Olu, Obi, Obaseki, Musawa mourn I watched as doctors battled to save her life, ex-Anambra governor recalls Onwenu’s last moments
Deji elumoye, Chuks okocha in Abuja and Agnes ekebuike in Lagos
President Bola Tinubu yesterday mourned the passing of the elegant stallion, Ms. Onyeka Onwenu, who died on Tuesday. Tinubu prayed that her music would never fade, while hoping she would find a place where there would be dancing in the sun, borrowing from one of her all-time songs.
First Lady, Mrs. Oluremi Tinubu, described Onwenu as a talented musician, saying the deceased left an indelible mark in the world of music.
Former President Goodluck Jonathan; Lagos State Governor Babajide SanwoOlu; presidential candidate of Labour Party (LP) in 2023, Mr. Peter Obi; Edo State Governor Godwin Obaseki; and Minister of of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, also mourned the demise of the music legend.
Extending his condolences to the family of Onwenu, Tinubu, according to a release by his media adviser, Ajuri Ngelale, said Onwenu’s edifying and mellifluous rendition, “One Love”, in the 1990s evoked a fervour of fellowship and harmony.
Tinubu recalled the many artistic interventions of the late musical icon in promoting public good, noting her classic collaboration with King Sunny Ade on “Wait for Me”, a melodic campaign on
family planning in the 1980s.
The president celebrated the life of the versatile and gifted artiste, who applied herself to the whole gamut of artistic enterprise and expression, bringing joy and laughter to many.
He further condoled with the entertainment industry, the Imo State government, and the numerous fans of the departed star over the loss.
The president, while praying for the repose of the soul of the deceased, prayed “that she finds a place yonder where the music never fades and where there is 'Dancing in the Sun'”. he added, “Ms. Onwenu lives on in her immortal masterpieces.”
The first lady’s condolence message read, "I was deeply saddened to hear of the passing of ‘The Elegant Stallion’, Onyeka Onwenu, especially as I still interacted with her not too long ago during the event to celebrate Mothers of our Nation, on the 25th of May, 2024.
"Her extraordinary talent, creativity and contributions to unity and African values exemplified in her iconic song, ‘One Love Keep Us Together,’ have left an indelible mark on the world of music, not only in Nigeria but across the world.
"My thoughts and prayers are with her family, associates, and friends during this period of grief. May the Lord God grant them the strength to bear this painful and irreplaceable loss. She left us doing what she loved. May her gentle
Kuni tyessi in Abuja
The Nigerian Education Loan Fund (NELFUND) yesterday, disclosed that it has disbursed a total of N1.17 billion to 20,000 students in five of the nation's public tertiary institutions.
Managing Director of NELFUND, Akintunde Sawyerr, who disclosed this at a news conference in Abuja, said one more institution would be added before the end of the day, noting that NELFUND would keep increasing the number based on applications.
According to him, the fund was working on reviewing another 100 institutions whose application had been received
“I am delighted to share that, following President Bola Tinubu’s directive, NELFUND has been able to disburse students’ institutional fees amounting to N1,172,388,340.00 for
20,000 students (100 per cent paid) in the institutions across the country.
“These institutions were carefully selected based on their academic calendar.
“Disbursement to other institutions will be made at the beginning of their sessions, to ensure a transparent and equitable distribution of resources,’’ he said.
Sawyerr, said an additional disbursement of N850 million would leave NELFUND to various institutions due to receive the loans.
He also disclosed that a total of 260,000 students had been approved for payment of upkeep loans and their institutions’ charges
He said the upkeep loan and institution charges for each student is N250,000 per annum. However, a student could apply less than the approved amount.
soul rest in perfect peace."
Jonathan, while expressing his condolences, described Onwenu as a true Nigerian icon, who promoted good values.
Jonathan, in a condolence message to the family of the late songster, stated that the country had lost a shining star whose achievements inspired many Nigerians.
In the statement by Ikechukwu Eze, his media adviser, Jonathan said, “I am deeply saddened by the passing of the famous journalist and songster, Onyeka Onwenu.
“As a nation, we have lost a shining star and a true Nigerian idol, whose music, artistry, activism and humanitarian work inspired many across the country.
"She will be fondly remembered for her remarkable contributions to our country's entertainment industry and her tireless efforts to promote good values.
“As a broadcaster, singer and actor, she did so much to promote the arts and Nigeria’s cultural heritage. She also made her mark in public service and strove to improve the lot of women, especially while serving as the Director General of the National Centre for Women Development.”
confusion as residents remained in the dark over the planned protest with the state government calling on residents to shun the protest.
Although, some youth groups, including stakeholders, religious and community leaders, had earlier been sensitised by the state government through the secretary to the state government, samuel jatau and the Chief of Staff to the governor Jeremiah Satmak to back out of the protest.
In Sokoto, there were indications that the protest will not hold as leading youth activists that were mobilising residents to participate in the protest in the state had announced their withdrawal from the exercise.
There were indications that though there will be protests in Adamawa state, but it will not be serious. Earlier yesterday, Adamawa Likeminds had a press conference saying: “ No Going Back, We Must Protest”.
Anambra
The mood in Anambra was a mix of uncertainty, fear and nonchalance. Although, some youth groups, including students, religious and community lead-
The former president declared, “Onwenu's legacy will continue to inspire future generations, and her memory will continue to be cherished.”
Sanwo-Olu, who described Onwenu’s death as a great loss to Nigeria, particularly the creative industry, extended his condolences to her family and the Nigerian entertainment industry.
Sanwo-Olu urged the deceased family, friends, associates, fans, and entertainment practitioners to take the death of Onwenu as an act of God.
He said Onwenu would be sorely missed by family, friends, fans and political associates.
The presidential candidate of LP in the 2023 general election, who saw Onwenu in her last moments, said he was devastated by her death.
Obi stated, "I watched as doctors battled to save her life in vain yesterday after her elegant performance on stage.
"She left us with a striking song in her last performance on earth "One Love Keep Us Together."
Writing on his X handle, Obi explained, "Yesterday provided a totally devastating moment for me as I witnessed a tragic event that will forever be etched in my memory.
"I was present at the event where
ers, earlier yesterday while in a solidarity to the state governor, Chukwuma Soludo, had backed out.
In Delta State, Governor, Sheriff Oborevwori, had earlier appealed to Nigerians, particularly those behind the planned protest, to shelve the idea, saying such protests would rather aggravate the nation’s challenges.
Oborevwori who said government was addressing issues raised, maintained that such protests would not solve the nation’s challenges considering the outcome of previous protests that were hijacked by hoodlums.
The governor made the appeal while playing host to National President of the Christian Association of Nigeria, CAN, Archbishop Daniel Okoh and his delegation at Government House, Asaba.
Also, the Delta State Council of Traditional Rulers has called on the organisers of the planned hunger protest to shelve their plan and “endeavour to interface with the leadership of the country for the overall good of the nation.”
The monarchs appealed for calm “to allow Tinubu and the various state governors to fix Nigeria and guarantee sustainable economic growth.”
These were contained in a statement titled ‘’Re: Protest Against Bad Governance from 1st to 10th August
the iconic song star, Onyeka Onwenu, performed a couple of her songs, ending up with her famous song, 'One Love Keep Us Together'. "It was a beautiful performance, but little did we know it would be her final bow. Just about a few minutes after her performance, she sat down and drank some water and immediately collapsed, and was rushed to the hospital.
“I followed her to the hospital. I watched in pain as the doctors and medical staff fought tirelessly and battled to save her life, doing everything possible to bring her back to life, but eventually came out with the sad news that she was gone. Despite their valiant efforts, she sadly passed away after over two hours of intense struggle.”
Edo State Governor, Mr. Godwin Obaseki, in a statement, described Onwenu as a gift to her generation.
Obaseki stated, “I am deeply saddened by the news of the passing of one of Nigeria's most versatile music exports, Dr. Onyeka Onwenu.
“Onwenu was a gift to her generation. Sonorous, enigmatic, and enchanting. Hers was a gift well deserving as she serenaded all with a rare facility with her voice, soothing the old and the young with melodious,
2024: Delta Monarchs Sue for Peace and Patience,’’ issued by the Delta State Council of Traditional Rulers, copies of which were made available to journalists in Warri.
Akwa Ibom
The Akwa Ibom State Governor, Umo Eno, was earlier presented a bouquet of commendations and assurances that peace will reign in the State during the August 1 planned nationwide protest against hardship in Nigeria. This took place at a Town Hall meeting with a cross-section of Akwa Ibom people, which included youth organisations, Civil Society Organisations, the Nigerian Labour Congress (NLC), Trade Union Congress (TUC) Students Associations and the Traditional Rulers Council of the State.
Also, barely 24 hours after they were addressed by Eno, critical stakeholders comprising youth groups, students and market associations backed out of the planned nationwide hardship protest scheduled to commence today.
Among other stakeholders that withdrew from the proposed protests against the economic situation in the country include the state chapters of the NLC, the TUC, CSOs and other interest groups.
Nasarawa
The Nasarawa state chapter of the
evergreen tunes.
“Onwenu performed excellently as a conscious musician, as she laced her music with nuggets for social revival. She wore many caps elegantly as a soulful singer, fierce journalist, and conscientious social crusader.
“Her desire for a better Nigeria was evident in the passion she infused in the many avenues she used in agitating for a more prosperous nation.
“It is sad that we lost her at a time when we needed role models like her to inspire Nigerian youths, who would have benefited from her experience and insight garnered as an active character in different hues of the Nigerian experience. We will miss her elegance, candour, and infectious charm.”
Musawa expressed shock and sadness over the passing of Onwenu.
In a statement, the minister said, "The music world has lost a shining star, a true legend, and a shaper of our cultural identity. Onyeka Onwenu's passing leaves a void that can never be filled. Her music was a testament to her innovative spirit, and her ability to bring people together through her art."
According to her, Onwenu's death would have a significant impact on the music industry.
APC said it was not in support of the planned nationwide protest. State chairman of the party, Aliyu Bello, stated this at a press briefing in in Lafia. He acknowledged the current economic challenges facing the nation, but pointed out that the planned nationwide protest was politically motivated in order to cause disaffection among the people. He therefore, urged people of Nasarawa state to remain cautious and to avoid taking part in the protest which may lead to the breach of peace in the state and the country at large.
Also, Mr. Danladi Jatau, Speaker of the Nasarawa State House of Assembly (NSHA), advocated the need for dialogue and patience to achieve amicable resolu- tions and workable solutions.
On its part, in a statement, the Kogi state government said it was not in support of any planned nationwide protest over the current economic hardship in Nigeria. In a statement on Sunday, Kogi commissioner for Information and Communication, Kingsley Fanwo, said the state government was in solidarity with the efforts of the Tinubu-led administration to fix the economy.
Edited by nseobonG okon-ekonG | gamingweek1117@gmail.com
The concept of refunding a portion of the stake to bettors when they lose could address the inherent imbalance in the betting industry. By offering a 30 to 50% refund on losing bets, we can create a more equitable system that reduces the financial risk for bettors and encourages more participation, writes davidson abraham
Sports betting has become a global phenomenon, with millions of enthusiasts placing wagers on their favourite teams and events.
However, one major drawback of traditional betting systems is the “all-or-nothing” nature of wagers: when you lose, you lose everything. This can be discouraging and financially draining for many bettors. But what if there was a way to mitigate these losses and create a fairer system? Imagine a model where bettors can get back 30 per cent to 50 per cent of their stake if they lose. This innovative approach could revolutionise the betting industry, making it more attractive and less risky for participants.
tradItIonal BettIng model and Its flaws
In the current betting landscape, when a bettor places a wager, they risk losing the entire stake if their prediction is incorrect. This model heavily favours betting companies, which generate substantial profits from the losses of their customers. The inherent risk of losing all the money deters many potential
bettors from participating, often leading to financial strain for those who do.
how BettIng fInances work
Odds and Payouts: Betting odds are set by the bookmakers,
reflecting the probability of an event’s outcome. They ensure the bookmaker has a built-in advantage, commonly called the house edge or vig. For example, if the true probability of a team winning is 50 per cent, the odds offered might imply a
probability of 48 per cent, with the remaining two per cent being the bookmaker’s margin.
event’s result. When bettors lose, the entire stake goes to the bookmaker, contributing significantly to their revenue.
Bookmaker profits: Bookmakers balance their books by setting odds to attract bets on all possible outcomes. This allows them to earn a profit regardless of the who were previously deterred by the high risk might be more inclined to participate.
High-risk environment: Bettors are exposed to high risk, as the loss of an entire stake can quickly accumulate, leading to significant financial losses over time. This high-risk environment benefits betting companies but places bettors at a substantial disadvantage.
IntroducIng
stake refunds:
BrIdgIng the gap
The concept of refunding a portion of the stake to bettors when they lose could address the inherent imbalance in the betting industry. By offering a 30 to 50% refund on losing bets, we can create a more equitable system that reduces the financial risk for bettors and encourages more participation.
how It works
Stake Refund Mechanism:
When a bettor places a wager, they are guaranteed a partial refund of their stake if they lose.
For instance, if they bet $100 and lose, they might receive $30 to $50 back. This reduces the total loss and provides a safety net, making betting a less daunting prospect.
Balancing profits: Betting companies can still maintain profitability by adjusting odds or implementing a small fee for the stake refund feature. The increased volume of bets from more willing participants could offset the cost of providing refunds, leading to a sustainable business model.
advantages for
Bettors:
Reduced financial risk: Bettors are less likely to experience significant financial losses, making betting a more attractive and less stressful activity. This can lead to more responsible gambling behaviour, as the fear of losing everything is mitigated.
Increased engagement: The promise of a partial refund can encourage more people to place bets, boosting overall engagement in sports betting. Casual bettors
advantages for BettIng companIes
Attracting a broader audience: A more balanced betting model can attract a wider audience, including those who were previously hesitant to bet due to the high risk of total loss. This can lead to a larger customer base and increased market share. Sustainable profitability: While refunds reduce immediate profits per bet, the increased volume of bets can lead to sustainable long-term profitability. Betting companies can differentiate themselves from competitors by offering a more customerfriendly approach, enhancing their reputation and customer loyalty.
If, for instance, a Betting Platform X introduces a 40% stake refund policy for losing bets. Within six months, they will see a 25 per cent increase in active users and a 30 per cent rise in total bets placed. While the average profit per bet reduces slightly, the overall profit will increase due to the higher volume of bets. Customer feedback will indicate higher satisfaction and a greater willingness to recommend the platform to others.
conclusIon
Introducing a model where bettors receive 30 per cent to 50 per cent of their stake back when they lose could revolutionize the sports betting industry. This approach addresses the inherent imbalance between betting companies and their customers, creating a fairer and more attractive betting environment. By reducing financial risk and encouraging more responsible gambling, this innovative model has the potential to transform the industry, benefiting both bettors and betting companies. As the betting landscape evolves, embracing such customer-centric innovations will be key to sustainable growth and success.
Iyke Bede reports on the introduction of Foniso, a new sports entertainment and networking app that seeks to galvanise various facets of the sports ecosystem
With an astonishing figure of 6.85 billion, representing the combined number of users across the top five most popular social media platforms globally, social media platforms generally attract a broad and diverse audience, creating a melting pot of varied views. While this diversity presents opportunities for exploration and learning, it can also be limiting for those seeking to leverage these platforms effectively.
For instance, the global sports market, projected to hit $680 billion by 2028, with a cumulative annual growth rate of 9.13 per cent between 2022 and 2028, is reported to have low visibility on social media platforms. This also applies to adjacent industries like sports betting, projected to rake in a revenue of $45.43 billion this year.
Further reports reveal that the gap between athletes and their fan base constantly widens, with 78 per cent of athletes desiring more direct and meaningful interaction with their fans.
To bridge this gap, Nigerian serial entrepreneur and CEO of Foniso, Dominic Essien, is championing a cause in the sporting world by galvanising various facets of the ecosystem— including athletes, fans, journalists, and sports legends—through his sports entertainment and networking app, Foniso.
His goal is to provide fans with an all-round experience while enabling athletes to speak directly to their audience.
Foniso covers all types of popular sports content and news. One of its unique features, which punters will find invaluable, is the live score functionality built into the app. This addresses the problem of leaving the app environment to seek data, potentially serving over 2.8 billion sports enthusiasts.
“Foniso is very special and very dear to us because we’ve realised, for instance, that the sporting world is really a huge industry. Over the years, what you tend to see are sports enthusiasts, fans, and players scrambling for space somewhere on
social media,” said Essien. “They are just juggling every part of the social media space in order to get visibility, to read content, and to project whatever information they have. So we decided that for such an important industry, we needed to create a space uniquely for them.”
With over 60 per cent of athletes believing that digital platforms play a major role in attracting scouts and securing sponsorship, particularly in the Global South, Essien has begun the groundwork to enhance the app’s visibility, especially in European countries, as the Premier League is set to kick off later this month. Locally, he proposes that the unique connectivity offered by the app will help showcase talents on a global scale.
Essien added, “Very few of the sports legends we have today are very comfortable, and that’s not because they didn’t plan for a time like this. What we are trying to do here is to have them share stories and content about their playing days, post about their past, offer advice for young people
and upcoming stars, and then we’ll amplify that and pay them for their consistent content.”
Foniso wants to support sponsoring some local games for local talent development, but “we need to, first of all, get to the market and understand where these talents are,” Essien stated.
Foniso is designed to leverage the community’s functionality, enabling users to build a following and potentially earn on the platform, particularly benefiting journalists in the field.
“An Italian journalist, Fabrizio Romano, was once just a regular journalist until he gained access to the sports community and specific clubs and began to obtain vital information. Today, he is a reference point. We can create our own African, Nigerian journalist for the world. And that’s what I want to do—showcase our own talent, find talents all over Nigeria, and present them,” Essien said.
While still in its nascent stages with a positive outlook, Essien revealed that future updates will include live streaming, live video games, and live messaging features integrated into the app.
With the recent appointment of Tosin Adeyanju as the new Executive Secretary/Chief Executive Officer of the National Lottery Trust Fund, Arowolo Solomon posits that it’s a new dawn that promises great things in the days ahead
Tosin Adeyanju’s appointment as executive secretary of the National Lottery Trust Fund (NLTF) marks a new chapter in the organisation’s journey. With his thoughtful approach and commitment to progress, he is poised to build on existing strengths and introduce positive changes that will benefit all stakeholders.
With his wealth of experience and passion for progress, Adeyanju is the perfect man for the job. He has a proven track record of success and a deep understanding of the challenges facing the NLTF.
Adeyanju’s appointment has been met with widespread approval, with many hailing him as the right man to steer the organization towards greatness. His leadership style, which emphasizes collaboration and inclusivity, has already begun to yield positive results.
One of Adeyanju’s most significant strengths is his ability to connect with people from all walks of life. He is a natural communicator with a unique talent for building bridges and fostering partnerships.
As the new sheriff in town, Adeyanju has vowed to tackle the tough challenges facing the NLTF head-on. He has promised to root out corruption, increase transparency, and ensure that the organization is working in the best interests of the Nigerian people.
Adeyanju’s commitment to excellence is inspiring, and his passion for his work is contagious. He is a true leader and a role model for others to follow.
Under Adeyanju’s leadership, the NLTF is poised for greatness. He has a clear vision for the organization’s future and the skills and expertise to make it a reality.
Adeyanju’s appointment is a testament to the government’s commitment to reform and progress.
new sheriff in town, Adeyanju faces many challenges but is undaunted. He is a man
of courage and conviction and will stop at nothing to achieve his goals.
Adeyanju’s leadership style is a breath of fresh air. He is open, transparent, and accountable and
In a bid to alleviate the suffering of the most vulnerable Nigerians amidst the current economic hardship, Tosin Adeyanju, Executive Secretary of the National Lottery Trust Fund (NLTF), has conducted a comprehensive inspection of the Fund’s offices and warehouse.
During the inspection, Adeyanju assessed the offices’ operational efficiency and the warehouse’s storage conditions, where he saw medical and sports materials worth millions of naira.
Moved by the sight of the stored materials, Adeyanju gave directives for their immediate
distribution to those in need.
He emphasised that the directive is in line with the Renewed Hope government’s commitment to reaching out to Nigerians in need.
“We cannot afford to sit back and watch our people suffer,” Adeyanju said. “The National Lottery Trust Fund is committed to making a positive impact in the lives of Nigerians, and this distribution is just the beginning.”
The materials, including medical equipment, pharmaceuticals, and sports facilities, are expected to benefit thousands of Nigerians nationwide.
Adeyanju also announced plans to expand the Fund’s intervention programmes to reach more Nigerians, particularly in education, healthcare and economic empowerment.
“The ‘Renewed Hope’ government is dedicated to bringing hope and relief to Nigerians, and we at the National Lottery Trust Fund are proud to be part of this effort,” he said.
The distribution exercise is expected to commence immediately, with teams from the NLTF already deployed to various parts of the country to identify beneficiaries and facilitate the delivery of the materials.
time to implement its policies, emphasising that the president means well for Nigeria.
“I have been at the barricade before, and I understand the plight of the youths,” Adeyanju said. “But I urge you to give President Bola Tinubu time. He means well for Nigeria, and his policies will soon yield positive results.”
Tinubu for appointing more youths than any previous administration since 1999, demonstrating his commitment to youth empowerment.
Adeyanju’s appeal comes as various groups plan nationwide protests to express their grievances. However, he believes engaging with the administration will yield better results than taking to the streets.
expects the same from those around him. The NLTF is lucky to have Adeyanju at the helm. He is a true asset to the organization and a valuable resource for the country.
Adeyanju’s impact will be felt far beyond the NLTF. He is a leader who will inspire others to follow in his footsteps and strive for excellence. As the new sheriff in town, Adeyanju has a lot of work to do, but he is up to the task. He is a man of action and will not rest until he has achieved his goals. In conclusion, Adeyanju is the right man for the job. He has the skills, expertise, and passion to lead the NLTF to greatness. As the new sheriff in town, he will bring about much-needed change and ensure that the organization is working in the best interests of the Nigerian people.
Adeyanju’s appointment is a new dawn for the NLTF, and we can expect great things from him in the days ahead. He is a true leader and a shining example of what it means to serve with integrity and passion.
Gov. Usman Ododo Visits NLTF
The Executive Secretary of the National Lottery Trust Fund, Comrade Tosin Adeyanju, received Governor Usman Ododo on a courtesy visit to congratulate him on his recent appointment. During the visit, Ododo expressed his gratitude to President Bola Tinubu for appointing Adeyanju, describing it as a well-deserved recognition of his dedication and hard work.
He emphasised the need for a collective effort to drive development in the state and country. He said, “We must work together as a team to take advantage of the good deeds of President Tinubu and spread development across our nation.” Adeyanju, in response, thanked Ododo for his visit and promised to make Kogi and the nation proud in his new role.
He described the governor as humble and committed to the welfare of the people of Kogi.
“I am happy to meet you today, Tosin,” Ododo said. “Your appointment is a testament to your dedication and hard work. I have no doubt that you will excel in your new role and make Kogi state proud.”
L-R: Managing Partner at GLG Communications and Creator of PR Power List, Omawumi Ogbe; Founder/Chief Executive Officer of Nairametrics, Ugodre Obi-Chukwu; Actor, Winihin Jemide; Founder of The Peak Performer Africa, Dr Abiola Salami; Lead Partner at Detail Commercial Solicitors, Ayuli Jemide, and Group Managing Director, CMC Connect, Yomi BadejoOkusanya, at the unveiling of the Glazia Magazine Special PR Power List Issue in Lagos…recently
Chiemelie Ezeobi
The Explosive Ordnance Disposal (EOD) and Chemical, Biological, Radiological, and Nuclear (CBRN) Unit of the Nigeria Police Force, yesterday deactivated an Improvised Explosive Device (IED) in Lagos.
Although the police did not state how the IED was discovered, it was said to have been deactivated along Mobolaji Bank Anthony Way, Ikeja.
Confirming the incident, the Force Public Relations Officer, ACP Olumuyiwa Adejobi, urged citizens to remain vigilant and alert.
He said: “Following a recent incident involving the discovery and successful detonation of an IED on 31st July, 2024, by the Nigeria Police Force wishes to alert all citizens to remain vigilant and
ayodeji ake
A Nigerian pharmaceutical company, Drugfield of Drugfield Pharmaceutical Company Limited, has again been dragged over poor health insurance for workers, salary and pension remittance.
This is coming 24 months after THISDAY reported an outbreak of protest in the company that resulted in the dismissal of 19 workers.
One of the labour members of the company who pleaded anonymity revealed to THISDAY how two of the workers allegedly died due to negligence on the part
of the organisation, poor salary and absence of health insurance for workers.
He said: “It is a shame that a company as big as Drugfield does not have health insurance package for it workers. Not even in incentives to encourage us. Our salary is nothing and I can tell you that pensions are close to nothing and are not even remitted.
“Two our workers died. I’m sure if they have health insurance package and are paid well, they would have survived it. We understand the economy is hard but we are not demanding for much.”
Governor AbdulRahman AbdulRazaq of Kwara State has presented a new fire truck to operatives of the state fire service as part of the measures to reduce reported cases of fire outbreak in the state.
The presentation of the fire truck, according to the governor, is meant to strengthen their operations and public safety in the state.
report any suspicious activities or objects to the nearest police station.
“All members of the public are urged to stay alert and be aware of their surroundings, reporting any
unusual or suspicious behaviour.
“Where one encounters an unfamiliar or suspicious object, please do not touch or move it. Rather, keep a safe distance and
immediately inform the Police.
“The Nigeria Police reiterates that its foremost responsibility is to protect the lives and property of our citizens.
Blessing ibunge in Port harcourt
A Federal High Court in Port Harcourt, Rivers State, has ruled in favour of the state Legal Adviser of the Peoples Democratic Party (PDP) in a matter to determine who represents the party between the national and state legal secretariats.
The court affirmed that the state legal adviser of the party has the right to appoint legal representation for matters concerning the party’s interests in Rivers State.
The court’s decision comes after National Legal Adviser, Kamaldeen Ajibade, challenged the state Legal Adviser’s
authority to appoint Joshua Musa as legal representation in a suit marked FHC/PH/ CS/90/2024 filed by the Victor Oko-Jumbo and two others against Martin Amaewhule and 25 others.
The court’s decision follows a previous ruling by the Federal High Court in Abuja, in the case of Ambassador Desmond Akawo v. Peoples Democratic Party and 2 Orders in Suit No PHC/ABJ/CS/112/2023, delivered on September 20, 2023. The Abuja court had interpreted Article 46(1) of the PDP’s Constitution, affirming that the state Legal Adviser has the authority to appoint legal representation for the party at the state level.
Waleigbintade
A Federal High Court in Lagos has ordered the immediate freezing of all Bastanchury Power Solutions accounts in all commercial banks in Nigeria.
The court also ordered compulsory Annual General Meeting (AGM) of Bastanchury Power Solutions Nigeria
Limited in compliance with the Provisions of the Company andAllied Matters Act, 2020 (As Amended) within days of the judgement.
The court presided over by Justice Kehinde Ogundare ordered that the AGM must be held within 14 days from the date the order of court is made.
Justice Ogundare also made
an order compelling the Deputy Chief Registrar (DCR) of the court to appoint an external and independent auditor to audit the company’s accounting books and the operations of its funds manager, African Plus Partners Nigeria Limited.
The Judge further made an order of injunction restraining the defendants, their agents, privies, representatives or the like from unilaterally dealing with the assets, shares, funds or any of the first defendant’s assets, shares, funds or chose in action; in any manner whatsoever with all commercial banks until the final audit report on the accounting books and operations of the company is presented to the Deputy Chief Registrar of this court.
Wale igbintade
According to him, “they (fire officers) have been doing a yeoman’s job protecting lives and properties.
“With rapid interventions over the years, we have seen that a lot of lives have been saved and properties that could have been consumed by fire were saved.
“We will continue to deepen our efforts in making sure that the fire service is well equipped and properly trained as well.”
AbdulRazaq said that his administration has also secured three fire trucks through the federal government.
The governor commended operatives of the fire service for their commitment and quick response to emergencies that could have caused loss of lives and properties in his speech during the presentation of the key of the fire truck to the Director of the Fire Service, Mr. Falade John Muyiwa, in Ilorin.
ahmad sorondinkiinKano
The Kano State Independent Electoral Commission (KANSAIC) has concluded plans to conduct elections for all the 44 local government areas in the state on November 30, 2024.
The KANSAIC disclosed this yesterday during a press conference in Kano.
It said that the release of guidelines and notification of polls would start from Thursday, August 15 and run till Saturday, August 31, 2024 while campaigns by political parties would commence from Friday, September
6 until the midnight of midnight of November 29, 2024. It said: “Parties primaries and submission of names of candidates to the commission from Thursday, September 19, 2024 to Monday, September 30, 2024; sale of forms start from Tuesday, October 1 to Wednesday, October 16, 2024.
“Submission of all completed forms must be on or before Friday October 18, 2024; verification of candidates by the commission and submission of names of party agents by political parties will take effect from Friday, October 18 till Friday, October 25, 2024.
Former Chairman & CEO of Nigerian Electricity Regulatory Commission, Dr. Sam Amadi has given the Inspector General (IG) of Police 14 days to unmask, the owner of X (formerly ‘Twitter’)
adibe Emenyonu in Benin-city
Some officers of the Nigerian Immigration Service (NIS) yesterday assaulted a lady journalist, Joy Odigie, who reports for the News Agency of Nigeria
handle @Lagospedia who, he claimed had been spreading hate speech and violated the Cybercrimes Act 2024 with a view to prosecuting the person under the law.
The renowned scholar in a petition dated July 31 2024 written to the IG sought the
intervention of the Nigerian Police Force through its anticyber crime unit to investigate, arrest and prosecute the offender.
According to Amadi on July 29, 2024, the same person posted on the same X handle (Lagospedia) “This is another warning to Ibos that Yoruba won’t condone their shenanigans anymore in Yorubaland. I still stand by my conviction, any mistake from them will spell their doom. We’ve had enough and we want them gone. #igbosmustgo #igbosmustgo”
(NAN), in Benin-City, Edo State capital.
Odigie visited the command to interview its Public Relations Officer, Ake Kenneth on the reported burglary in three units of the command.
A source told that the offices burgled on Monday included border, technical and the National Identification Number (NIN) units. Some hoodlums, it was learnt, vandalised some electrical cable and equipment in the offices at the weekend and carted away some items, including money kept in a safe. The source said one of the perpetrators was apprehended by some officers on duty last Monday.
yinka Kolawole in Osogbo
No fewer than 100,000 local and international tourists are expected to grace this year’s Osun Osogbo Festival.
The over 600-year-old
international heritage cultural tourism event is celebrated annually as a sacrifice to the Osun River’s goddess of fertility.
Speaking at a press conference to herald the festival, the Governor of Osun State, Senator Ademola
Adeleke, urged Nigerians to tap into culture and tourism in an efforts to grease the wheel of our economic well-being.
Adeleke, who was represented by the Commissioner for Culture and Tourism, Mr. Abiodun Ojo,
noted that culture and tourism would promote trade and investment if properly harnessed. He added that from time immemorial the Osun festival has provided medical, health and economic values for the people.
sunday Okobi
PEFTI has been crowned the ‘Best Innovation Enterprise Institution’ in Nigeria by Joint Admissions Matriculation Board (JAMB) at the National Tertiary Admissions Performance Merit (NATAP-M) Awards, which took
place recently Abuja. The award, which was presented by the Minister of State for Education, Dr. Yusuf Tanko Sununu, is based on PEFTI leading the Innovation Enterprise Institution sector in the cumulative of 2021/2022, 2022/2023 and 2023/2024 academic sessions.
According to PEFTI Managing Director, Abiola Adenuga, “We appreciate the Ministry of Education through JAMB, for recognizing PEFTI’s achievements. We remain committed to providing Professional Practical Education, Productions, and partnering our students to
make their dreams come true. We equally appreciate JAMB’s commitment to sponsor a project at PEFTI.” Established in 2004, PEFTI is accredited by the Ministry of Education through NBTE Nigeria, and by NCC Education United Kingdom.
Femi Solaja
Following the distress messages posted on the x-platform (formerly Twitter) by aspiring Nigerian Olympic medallist, Favour Ofili, over her exclusion from the 100m women’s race at the Paris 2024 Olympics, a lot of stakeholders are calling for severe punishment against the official(s) found guilty of the admirative blunder.
The Sports Minister, John Enoh had yesterday reacted via his verified X account where he absolved his ministry of complicity but maintained that the culprit must be brought to book.
The tweet under two hours had 386k views, 1,375 reposts, 2,885 likes and 750 comments and the high point of many Nigerians that reacted was that the matter should not be swept under the carpet just like it happened at the last Olympic Games in Tokyo when the same Ofili and nine others were declared ineligible for the Olympics by the Athletics Integrity Unit because they were not tested rigorously enough in the run-up to Tokyo 2020.
According to the Minister yesterday, “On July 28, 2024, as Minister of Sports Development, I visited and addressed Team Nigeria athletes at
the Games Village in Paris. It was a no-holds-barred session. Thereafter, I had my usual personal interaction with the athletes to allow them to express their concerns directly to me, which has been my tradition as Minister of Sports. In addition, I have continued to encourage athletes
to reach me directly on any concerns.
“In hindsight, when Ofili had issues at the African Championships in Douala, I reached out to get her side of the story, and this time, it hasn’t been different. Favour Ofili reached me directly, expressing her concern for her race. Immediately
I called Professor Ken Anugweje, the lead of the Ministerial Podium Performance Committee, to ensure that Ofili’s issues were thoroughly addressed.
“He got back to me shortly after to say he was in touch with the 1st Vice President of NOC, Chief Solomon Ogba, and that the matter was being handled.
“Upon hearing Ofili’s distress this morning, I reached out to the Athletic Federation of Nigeria (AFN). The Technical Director, Samuel Onikeku, stated categorically that Favour Ofili was registered for the 100m, 200m, and the 4x100m relay.
“The Secretary General of AFN has also insisted that the final list forwarded by her to NOC (the only body the International Olympic Committee receives the final list of athletes from), had Ofili listed for the 100m as well. I am in touch with the President of the NOC on this and await his explanation.
“Ofili has been in the top eight at the World Championships. She is a Commonwealth Games silver medallist, an African Games champion, a former World U20 champion, and an African Senior Athletics Championships champion in the 200m.
“As Minister of Sports, I will not tolerate this utter recklessness. It is highly inexcusable, and there will be thorough sanctions after investigations into where and from whom this gross negligence originated.
“All parties must take their duties very seriously. The current way of operating the Federal Ministry of Sports Development does not allow for incompetence at any level.
“As an immediate measure, the Athletic Federation of Nigeria and the Nigeria Olympic Committee must ensure that Favour Ofili is not deprived of the opportunity to compete in the races for which she is qualified and registered to represent the country at the Paris Olympics. She is committed to proving her mettle,” the minister stated in his tweet.
In its reaction, the Athletics Federation of Nigeria (AFN) said that it registered Ofili for 100m, 200m and 4x100m relay. The federation noted that it was shocking that the athlete’s name went missing from the 100m event of the Paris 2024 Olympics.
"We registered Ofili for the 100m, 200m and the 4x100m relay. We don't know how her name got missing in the 100m. This is our stand as a federation," AFN Technical Director, Samuel Onikeku, said in a message to AFN Media. It was gathered that the AFN submitted Ofili's name for the three events on the final list it sent to the Nigeria Olympics Committee (NOC) for the Paris Olympics. It was not clear how her name was eventually left out in the 100m event.
Ofili ran 11.06 at the Nigerian Olympics Trials in Benin City to secure her place among the 56 athletes that will compete at the Paris Olympics. She has competed in more 100m races this season than the 200m and ran two wind-aided times of 10.85sec and 10.78secs.
Ofili had taken to her social media page to express her anger and disgust.
"It is with great regret that I have just been told I will not be competing in the 100 meters at this Olympic Games. I qualified, but those with the AFN and NOC failed to enter me. I have worked for 4 years to earn this opportunity,” she noted. So far, there has not been any official reaction from NOC on the matter.
Nigeria’s D’Tigress will today take on hosts France in their second Group B game play of the women’s basketball event of the ongoing Paris 2024 Olympic Games. This game will likely decide who will finish top of Group B. Both teams snatched dramatic victories in their opening 2024 Paris Olympics games, but it’s the hosts that currently occupy the top spot with a better point difference, setting this matchup as a crucial one.
These two have faced each other three times; with France winning two and Nigeria one.
However, the African champions came out winners the last time the two sides met in 2022, securing a shock 67-65 win in 2022 FIBA Basketball World Cup clash. Victoria Macaulay led the scoring with 18 points, while Oderah Chidom dominated in rebounds and assists. And after what the D’Tigress
did to world number three team Australia in their game, nobody will dare take Nigeria for granted.
Expectedly, the Les Bleues who have become somewhat of a regular podium finisher in recent years will have their fans to back them up as they battle Nigeria. In the words of Ezinne Kalu shortly after Nigeria defeated Australia’s Opal, “When we are on the court, we smell blood. Nobody defends quite like us and that is what keeps us going. "Australia came out in the second half with their veterans and an amazing coach who knows what she's doing, but we kept our foot on the gas and kept on going,” observed Ezinne who made a special return to the national team after a three-year gap to claim 19 points, 5 rebounds, 5 assists and
3
Another win today against France that won bronze at the last Games in Tokyo will see the DT’gress move onto four points from two games with qualification confirmed regardless of the result between Canada and Australia. France put on a quality showing in their opening game against
Canada, with Marieme Badiane scoring 13 points and leading the rebounding with 6. Gabby Williams contributed 12 points and led the team in assists with 8. If the Nigerians give the duo the slightest of chances near the basket, expect them to make the most of those opportunities and punish them.
Multiple award-winning Technical Adviser of the reigning NPFL champions, Enugu Rangers Fidelis Ilechukwu, has sounded it loud to the club’s teeming supporters that he and his lieutenants would be using the multi-million naira, 042 Coal City Int’L Cup, to kick start his re-building process in the team.
The pre-season tournament would have teams from Sierra Leone,
Cameroon, Benin Republic, Brazil and top teams from the NPFL, do a soccer battle for the ultimate prize of N50 million with each participant earning an appearance fee of N5 million in every match played.
The grand opening ceremony took place yesterday at Villa Toscana Hotel, Enugu while the opening game will come up today at the main bowl of Nnamdi Azikiwe
Against much expectation, the Super Falcons failed to fly in their final match of Group C of the Paris 2024 Women’s Olympic Football Tournament.
Their 1-3 loss to the Asians turned out to be their biggest loss of the tournament and they return home without a point from their first outing at the Olympics in 16 years.
After 0-1 defeats by Brazil and Spain in their two earlier matches, the Falcons were expected to throw the kitchen sink at the Asian champions. Instead, the Nadeshiko were two goals up just a little after the half-hour mark, both scored within 10 minutes of each other.
Mika Hamano fired past goalkeeper Chiamaka Nnadozie to give the Asian champions the
lead after 22 minutes, and in the 32nd, Mina Tanaka doubled the lead, leaving the nine-time African champions with a heavy burden to lift to stand a chance of victory. Jennifer Echegini briefly gave hope of that possibility, with a brilliant strike with three minutes to go into recess, but the Japanese restored their two-goal advantage in added time of first half when Hamano got her second with a superb free-kick. The much-expected revamp in the second half failed to materialize, and the Super Falcons have departed the Women’s Olympic Football Tournament in France without making a single point and scoring only one goal in their three matches.
Stadium, Enugu, with Shooting Stars Sports Club (3SC) of Ibadan trading tackles with Sierra Leone’ F.C Kallon at 4 pm while Rangers takes on Enyimba in an Oriental Derby in the second match of the day. Coach Ilechukwu said ahead of the pre-season tourney, “It is a good thing to have such quality teams in a preseason tournament and it will to a very large extent, help us monitor the players that we have registered for both the continent and domestic challenges.
“As I have been saying, we are re-building as the structure we had earlier set up has been shaken a bit and we have some new talents that need to be blooded into our playing philosophy. I believe that we shall get good results from the preseason games,” he remarked.
“I am enjoining you today to please be on the watch out in all your campuses. All our TETFund assets, all the buildings that taxpayers’ money has been used to provide; not only should you ensure that you protect them, please nobody should go and destroy them. Let us not give chances to those hoodlums who will take advantage of your legitimate demands to cause havoc”
—ExecutiveSecretaryofTETFund,atameetingwithNANSleadershipinAbuja
In October 2019, I was in Prague, Czech Republic, at the invitation of ‘Forum 2000’ to mark the 30th anniversary of the 1989 ‘Velvet Revolution’ which brought to power then Czechoslovakia’s famous playwright and political dissident, the late Vaclav Havel. ‘Forum 2000’ was founded in 1996 by Havel (who died in December 2011), in collaboration with Japanese philanthropist, Yohei Sasakawa, and the late Nobel Peace Prize Laureate and Holocaust survivor, Professor Elie Wiesel. So as scholars reflect on the 1989 ‘Autumn of Nations’—mass protests in several Eastern European, Asian and Latin American countries—an enduring lesson should be that there are no predictable outcomes to fires that start from the streets. I will come back to that shortly.
We wake up in Nigeria today to the fear of a planned 10-day protest. With #EndBadGovernance in Nigeria as hashtag, and driven mostly by people on social media, the aim of the protests, according to the organisers, is to draw attention to the hunger and general economic hardship that most Nigerians now grapple with. As of June, according to the National Bureau of Statistics (NBS), food inflation had hit at an all-time high of 40.87 percent while prices of necessities are now beyond the reach of the average Nigerian. Anger on the streets is therefore understandable. But the fear that protests could be infiltrated or hijacked by hoodlums to loot and cause mayhem is also real.
I attended a Christian programme last week where the presiding cleric asked us to pray for Nigeria - routine in many religious gatherings these days. The pastor prefaced his call with a litany of the skyrocketing prices of essential commodities and the hardship being faced by the majority of Nigerians. Despite all these, he added, “I do not believe that street protest offers any practical solution to our problems,” as he led us to pray for God to avert the protests. But with his prayer session over, one young man in the row behind me muttered, “The prayer is too late. Nothing can stop the protests.” He was audible enough for many of us to turn in his direction. “So, if you don’t believe God can change the situation, why were you praying so fervently?”, the lady beside him asked.
Apparently sensing that he could put himself in trouble, the guy left before the programme ended. Beyond exposing the faithlessness of many of the people who profess religion in Nigeria, his comment also helped me understand why there is so much agitation in Abuja. Perhaps there is more to the protests than some of us can see. So, while we await what happens today and, in the days ahead, let me also admit that nobody is neutral on this issue. There are six categories to which Nigerians now belong regarding the protest. In the first are those who want to send a strong message to the leadership akin to what is happening in Kenya from where they apparently draw inspiration. It doesn’t matter how many or few they are, members of this group will protest not minding the risks to their lives. The second category comprises opportunistic politicians who seek to profit from anything that will upend the current political arrangement in Abuja. This group may support with resources, but they will not venture out of their houses. Nor will any member of their families. In the third category are moderates who are simply disenchanted with the situation in the country and believe the system requires some form of shock therapy to necessitate a change of direction. The only thing the protesters will get from this group is ‘moral support’ which counts for nothing. They will not be on the streets. The fourth category comprises Nigerians who just want to get on
with their lives despite the hardship, having resigned themselves to the fact that protests can only add to their woes and will change nothing. In the fifth category are the street urchins, the opportunistic criminals who wait in the hope of a confusion that would allow them to loot, maim and even rape. For each of these groups, there is a counterforce, the sixth category consisting mainly of those currently in power, especially in Abuja (and beneficiaries). To this group, the idea of a protest of any kind is ‘treasonable’. The problem with members of this group is that opportunism rather than principle drives their position which changes the moment they
Come Saturday 17 August, Demilade Adepegba, 15, fondly called The BOLD One, will be showcasing his dexterity with the saxophone at the Annual Teens Career Conference of The Everlasting Arms Parish (TEAP) of the Redeemed Christian Church of God (RCCG) Abuja. With the special guest, former Cross River State Governor, Mr Donald Duke, also a saxophonist, it will be a combination of the young and the old. But that’s not the real story. Demilade’s parents discovered his love for music very early and on his 6th birthday, they presented him a saxophone. Meanwhile, the story of Duke, 64, who sees music as a life-long passion, is similar. “I started playing music at the age of three. My parents got me a piano and sat me down, then I had a music teacher. But after the piano, the first instrument I played was the flute. From the flute to the guitar, from the guitar I did a lot of vocals. Then I tried the saxophone,” Duke explained in an interview with Daily Trust on how he fell in love with the saxophone and his passion for music. “You see, when you play these instruments it’s your fingers that find the notes. But it transports you. Every other period, I’m guarded. But when I’m playing music, I’m just myself. I can play from now till the wee hours of the morning and I’m not tired because I enjoy doing it. And it’s only when you enjoy what you are doing that your passion comes out.”
Themed ‘The Power of Music’, I find the interconnectedness of the stories of our speakers this year interesting because the parental influence that fired the imaginations of both Duke and Damilade also nudged Darey Art Alade, 42 and Mrs Bukola
move from government to the opposition or vice versa.
We live in a country where people forget things easily so let me speak briefly on the last category. On 20 June 2003 (21 years ago), the federal government under then President Olusegun Obasanjo jacked up the fuel price from N26 to N40 per litre. Five days later, on 25 June, then Nigerian Labour Congress (NLC) President (now Senator) Adams Oshiomhole, threatened a nationwide strike action if Obasanjo did not reverse the policy by the midnight of 29 June. When by 30 June the pump price had not been reversed, Oshiomhole declared a “total and indefinite” general strike. As Governor of Lagos State at the time, Tinubu received the protesters at Alausa and asked Obasanjo to accede to their request. And for more than a week, the NLC and Trade Union Congress (TUC) succeeded in shutting down the country (banks, oil industry, power sector, air travels etc. were all grounded) until 8 July when, following a series of negotiations, Oshiomhole announced that Labour would accept a fresh proposal by the federal government which reduced the pump price to N34 per litre. And in January 2012 when protesters took to the streets of Lagos for several days against President Goodluck Jonathan on this same issue of fuel subsidy, Tinubu not only supported their stance but also issued a strong statement to justify it. Today, this same man is pleading for ‘patience’ after taking the same decision on which he helped to upend his predecessors! And in a most provocative statement, the Senate President, Godswill Akpabio, yesterday mocked organisers of the protest. “All of us feel the impact of what is happening now. But we are aware it will be for a short while. MD, I want to thank you for what you said,” Akpabio stated while addressing the Niger Delta Development
Bekes, 43, in the same direction. As son of the late Modupe Afolabi Jemi-Alade popularly known as Art Alade, a famous Nigerian television personality in the 70s, Darey learnt the craft from his father. As for Bukola Bekes, she was encouraged by her parents to join the church choir right from childhood and today, she is the Music Director at the RCCG, City of David, Lagos. These eminent personalities will be joined
Commission (NDDC) delegates from Rivers State led by the commission’s Managing Director. “You said we are not interested in regime change; let us own this government. Those who want to protest can protest but let us be there eating.” Apparently so that the Akpabios of this world would have enough to ‘eat’ at public expense, some agencies of government are reeling out policies that only aggravate the sufferings of the people. Despite complaints by the Airline Operators of Nigeria over multiple charges that hamper their operations, the Nigerian Airspace Management Agency (NAMA) last Friday announced that it would increase some charges to airlines by 800 percent—from N50,000 to N450,000. At a time like this! Although the federal government has since intervened to halt the policy, you wonder why those in positions of power in Nigeria today seem impervious to the public mood. To compound our woes, even though the pump price of PMS has more than quadrupled in the past one year, the commodity is still not readily available. Unfortunately, the reality of Nigeria is that we don’t even know when this rain started to beat us. I am sure many readers have come across the trending letter of one of the foremost educationists in our country and founder of Mayflower Secondary School, Ikenne, Ogun State, the late Dr Tai Solarin. Written on 30th November 1983 to parents and titled ‘Feeding our 2,300 children’, Solarin lamented the skyrocketing prices of foodstuffs in the country. And that was 41 years ago. “We are frightened by the rate foodstuffs are rising madly in prices. There was an evening when we had no palm oil at all to prepare supper and a man in Sagamu offered us a drum for N700.00. Of course we did not buy it. At the same time, we have bought other items of food for about twice what we paid for them three months ago... NOTE: Concluded online
by the chief host, Pastor Evaristus Azodoh who will conclude the conference with the Father’s Blessings. Eligible participants should visit rccgteapteens.ng for online registration. And since we are talking about music, I felt sad yesterday to learn about the death of the much-adored Onyeka Onwenu, the ‘elegant stallion’. May God comfort her family.